Over 73 per cent business school aspirants worldwide now prefer full-time and in-person programmes, reversing a multi-year decline pushed by the COVID-19 pandemic, according to the latest annual survey by the Graduate Management Admission Council ( GMAC). Compared to the previous year, there has been a significant jump in the share of candidates who prefer business master's degrees. Even though preference for Master of Business Administration (MBA) dipped slightly, roughly half of global business candidates still consider it their top choice, it noted.
The survey, which included 4,912 respondents from across 147 countries, found that cost remains a top barrier for candidates to get graduate business degrees no matter where they are located or how advanced they are in their careers.
"In addition to the preference shift for different types of degree programmes, this year's survey results also reveal a reversal of the growing popularity of hybrid and flexible learning. Compared to last year, preference for in-person, full-time and part-time learning increased as preference for hybrid and flexible learning dipped below pre-pandemic levels," the survey report said.
Nearly three-quarters of candidates (73 per cent) prefer full-time, in-person programmes, reversing a multi-year decline. The biggest shifts in preference towards full-time, in-person learning happened among 23 to 24 and 25 to 30-year-olds.
"Candidates in the 23 to 24 and 25 to 30 age groups showed the biggest year-to-year increases in the shares who want to study full-time, in person. Each age group demonstrated declines in preference for blended or hybrid learning, with the older candidates in the 31 to 39 and 40 and older age groups showing the biggest increases in preference for part-time, in-person learning," the survey noted.
The report flagged that degree preference may also influence a candidate's preferred programme modality.
"In particular, candidates who prefer business master's programmes range in their preferred programme modality. More than half or more of the candidates who prefer these degrees want to study full-time, in-person, with the Master of Finance and Master in Management candidates most interested in the modality and Master of Entrepreneurship and Master of Accounting candidates least interested.
"There were no statistically significant year-over-year increases in the share of candidates interested in these degrees who prefer to study full-time, in-person, indicating the overarching increase for this delivery method was likely driven among candidates interested in MBAs," it added.
A deeper dive into the shift revealed that pre-experience candidates as well as those aged 30 and over are more inclined to apply for business master's programmes than before.
"For the more seasoned professionals seeking to pivot their career or college students contemplating becoming an accountant or marketeer, a relatively shorter and specialised business programme could be an ideal educational path," said Martin Boehm, executive vice president and global dean of undergraduate programmes at Hult International Business School and a GMAC Board director.
Study destination preferences of global candidates have remained steady over the past five years, with the United States and western Europe continuing to occupy the top spots for students intending to study abroad. At the same time, affordability and being closer to home are deciding factors among candidates who want to study in regions like Asia, the Middle East and Africa where rising inflation and fluctuating currency exchange rates have dominated recent headlines.
"As the global economy becomes increasingly uncertain, we are seeing candidates from around the world seeking out the value for money, unique perspectives and hands-on experience with complex problems they can gain by studying in regions with young populations and fast-growing, dynamic markets," said Catherine Duggan, director (dean) of the University of Cape Town Graduate School of Business and chair-elect of the GMAC Board.
The survey, which included 4,912 respondents from across 147 countries, found that cost remains a top barrier for candidates to get graduate business degrees no matter where they are located or how advanced they are in their careers.
"In addition to the preference shift for different types of degree programmes, this year's survey results also reveal a reversal of the growing popularity of hybrid and flexible learning. Compared to last year, preference for in-person, full-time and part-time learning increased as preference for hybrid and flexible learning dipped below pre-pandemic levels," the survey report said.
Nearly three-quarters of candidates (73 per cent) prefer full-time, in-person programmes, reversing a multi-year decline. The biggest shifts in preference towards full-time, in-person learning happened among 23 to 24 and 25 to 30-year-olds.
"Candidates in the 23 to 24 and 25 to 30 age groups showed the biggest year-to-year increases in the shares who want to study full-time, in person. Each age group demonstrated declines in preference for blended or hybrid learning, with the older candidates in the 31 to 39 and 40 and older age groups showing the biggest increases in preference for part-time, in-person learning," the survey noted.
The report flagged that degree preference may also influence a candidate's preferred programme modality.
"In particular, candidates who prefer business master's programmes range in their preferred programme modality. More than half or more of the candidates who prefer these degrees want to study full-time, in-person, with the Master of Finance and Master in Management candidates most interested in the modality and Master of Entrepreneurship and Master of Accounting candidates least interested.
"There were no statistically significant year-over-year increases in the share of candidates interested in these degrees who prefer to study full-time, in-person, indicating the overarching increase for this delivery method was likely driven among candidates interested in MBAs," it added.
A deeper dive into the shift revealed that pre-experience candidates as well as those aged 30 and over are more inclined to apply for business master's programmes than before.
"For the more seasoned professionals seeking to pivot their career or college students contemplating becoming an accountant or marketeer, a relatively shorter and specialised business programme could be an ideal educational path," said Martin Boehm, executive vice president and global dean of undergraduate programmes at Hult International Business School and a GMAC Board director.
Study destination preferences of global candidates have remained steady over the past five years, with the United States and western Europe continuing to occupy the top spots for students intending to study abroad. At the same time, affordability and being closer to home are deciding factors among candidates who want to study in regions like Asia, the Middle East and Africa where rising inflation and fluctuating currency exchange rates have dominated recent headlines.
"As the global economy becomes increasingly uncertain, we are seeing candidates from around the world seeking out the value for money, unique perspectives and hands-on experience with complex problems they can gain by studying in regions with young populations and fast-growing, dynamic markets," said Catherine Duggan, director (dean) of the University of Cape Town Graduate School of Business and chair-elect of the GMAC Board.
You may also like
Celebrity Big Brother secret 'exposed' as Danny Beard rumbles Ella Rae Wise plot
Union Minister Sanjay Seth slams Jharkhand Minister Hafizul Hassan over 'Shariat first' remark, demands treason case
Marvel's Fantastic Four First Steps release date and cast details as trailer finally drops
Inside sickening crimes of 'Britain's most dangerous' inmate as he leaves 'glass cage'
Rio Ferdinand insists Arsenal star would have joined Man Utd 'for the same wages'
