Changing student demands, the impact of AI, increasing non-business school competitors and employers’ perceived value of the qualification all point to the MBA being at a critical tipping point, reveals the latest Tomorrow’s MBA study from CarringtonCrisp in association with EFMD
The research, conducted among 2,263 prospective students from 32 countries, found that a host of alternatives to the MBA are being considered, including professional qualifications (64 per cent), master’s degrees (61 per cent) and continuing professional development (57 per cent). Almost four in ten (39 per cent) are considering short non-degree courses without academic credit.
Eight ‘mini-MBAs’ were listed in the research, including from non-business schools and respondents asked whether they had heard of them and would consider applying. Over 70 per cent had heard of each of the courses, with the PWC mini-MBA being the most popular.
“The MBA remains a popular degree, but it’s not the same qualification as 20 years ago,” commented Andrew Crisp, the author of the study. “Several trends are converging which mean that many business schools will need to review their MBA offers to continue to attract strong cohorts.”
A key demand from students is the integration of technology topics into MBA curricula. Not surprisingly, AI (53 per cent) is the most in demand, retaining its number one position from last year’s report. After AI, technology management (48 per cent), data analytics & decision-making (46 per cent) and digital transformation (44 per cent) are the most valued topics.
The research points to students looking for different ways to study. While the majority (72 per cent) want to study full time, 42 per cent would like a mix of campus and online study. Nearly a quarter (24 per cent) are interested in hybrid study that allows you to switch between campus and online as you wish. Only 22 per cent want to study on campus completely. Some 39 per cent prefer to study outside their home country compared to 36 per cent in 2023. The main reason for international study is to help pursue an international career (86 per cent).
“We are in a buyer’s market in which students are spoilt for choice when it comes to developing professional skills”, noted Crisp. He concluded: “They want learning that can be tailored to their needs and can be studied the way they want. Technology is central to any learning. Those business schools that can provide MBA programmes that meet these needs will be successful; those that don’t adapt will find it hard going.”
