Look back, look forward, look at the MBA
07 February 2025
Ian Hawkings examines some of the latest trends in the MBA space.
The MBA is a resilient product. It has now existed for well over 100 years, and for much of that period it didn’t change very much. In fact, the biggest changes have probably happened in the period since CarringtonCrisp started studying the MBA market in 2009.
In a small twist of coincidence, the first MBA was taught in 1908, and that’s exactly the number of respondents we had to this year’s Tomorrow’s MBA survey. These hailed from 37 countries – which may or may not be the average number of specialist tracks now offered by business schools for what was once a generalist degree...more on that later.
In recent years we have seen the rise of new technologies, emergent remote learning models, and new competitors enter the marketplace. And these are amongst the themes that we return to in this year’s study.
An AI MBA?
It will come as no surprise that AI looms large in applicant’s minds. We are clearly still in a phase where potential students recognise how important AI will be in their future careers, but where a significant number are anxious about how best to employ its emergent abilities. How can it help me in my job? Will it make applying for an MBA easier? Can it personalise my learning journey?
More competition, more options
Technology and a wider acceptance of alternative learning models means that there is more competition for traditional business school MBAs than ever before. A desire for flexibility and cost-savings means a growing number of potential applicants would seriously consider alternative providers and non-degree options for their mid-career learning.
And demand for so-called ‘specialist’ MBAs, many with a technology angle, is rising with more students now favouring them over a generalist programme.
Return to the classroom
Despite this there are a couple of elements of this year’s report that hark back to that first MBA class at Harvard in 1908. One is that students are, for the first time in a couple of years, more inclined to opt for a physical, on-campus, classroom-based course – a third of total respondents stated that this was their preferred mode of study over more flexible remote options.
And the other is that interest in studying for an MBA away from home appears to be waning. Fewer than 1 in 5 respondents said that they wanted to study abroad. A combination of global political instability, more restrictive visa policies in certain key markets, and perhaps the emergence of high-quality remote options can reasonably be attributed to this. Cost is also a significant factor.
If you’d like to find out more about what prospective MBA students want from their degree, the full global report is available to buy here.