Students perceive Graduate Management Education as a true pathway to advance professionally even in a time where cost remains a primary concern. It was found in a GMAC survey, a global association of leading graduate business schools, that more candidates from traditionally mobile markets are opting to study and are widely accepting hybrid formats of education while belief in the value of fully online education remains low.
It was also found that candidates from India want to become CEO and prefer STEM-certified programs. According to the GMAC survey, it was found that a full-time MBA program continues to be the most popular program option.
While there has been an evolution in candidates’ preferred study destinations, delivery formats, perceptions of admissions testing policies and career paths, there is no diminishing in the perception of the students about the value of graduate management education.
Students currently prefer to study closer to home and it was found that the percentage of students who prefer international education has decreased in countries in Central and South Asia from 89% to 73%. It is also found that the preference for international education from students in East and South-East Asian countries has decreased from 92% to 87%.
The US is the most preferred destination for candidates who wish to pursue MBA internationally followed by Western Europe. However, Western Europe remains the most preferred destination of more than half of international business master’s candidates.
Candidates see higher value in in-person business school experience compared to online and disagree that online programs offer the same value as the on-campus program. Also, candidates disagree that the networking and career opportunities are equivalent.
However, candidates tend to prefer the hybrid model, especially among those who prefer executive, part-time and flexible MBA programs. There is also a growing interest in the technology industry, especially among non-business undergraduate majors and career-switchers and this interest has seen significant growth among women.
After the onset of the pandemic, many people have become open-minded and are inviting various career paths that could be pursued by them. Women are also pursuing business degrees as a way to build their careers in the fields of business and technology.