New study shows increased interest in specialist MBAs

The report clearly showed there is increased interest in specialist MBAs, driven by the importance of AI and related technologies. Nearly twice as many respondents (41 per cent) expressed a preference for specialist programmes over the traditional generalist MBA (23 per cent).

Not surprisingly, AI (43 per cent) is the most valued technology-related subject in an MBA, followed by Data Analytics and Decision Making (33 per cent), Technology Management (31 per cent), Digital Marketing (29 per cent) and Cybersecurity (27 per cent). 

The study, carried out in association with EFMD, canvassed the opinions of 1,908 prospective MBA students across 37 countries. It reflects a decline in interest in studying internationally, with fewer than one in five respondents (19 per cent) expressing a preference for studying overseas compared to 39 per cent in the previous edition of the report, which was published last year. 

Commenting on the findings, study author Andrew Crisp said: “Increasingly restrictive visa policies in several major MBA markets, geopolitical instability and the improving quality of domestic and online MBA programmes is combining to put some students off studying internationally.”

The primary motivation in wanting to study for an MBA is focused on career outcomes, with a third (33 per cent) of respondents indicating that an MBA/EMBA is “essential for me to advance my career as I desire”. Conversely, money is the main issue in not undertaking an MBA, with the top three reasons being “the fees are too high” (32 per cent), an MBA “not offering a good return on investment” (30 per cent) and “receiving too little or no financial aid/scholarships” (25 per cent).

One in five (20 per cent) respondents are open to alternatives to an MBA or EMBA, with a professional qualification (30 per cent), master’s (29 per cent), and certificate/diploma (21 per cent) being the most popular.

“Students are open to other forms of learning that they perceive as offering value for money and flexibility. Business schools need to clearly articulate the distinct value proposition that an MBA offers over alternatives”, noted Crisp.

The study also reveals a shift back towards traditional, full-time, on-campus MBA programmes, with a third (33 per cent) expressing a preference for this way of learning. In comparison, in the previous study, approximately two-thirds of respondents (66 per cent) favoured blended or hybrid study formats.

This shift may reflect a renewed desire for face-to-face interaction, immersive classroom experiences and enhanced networking opportunities – elements that are often more easily achieved in an on-campus setting. 

“It is an interesting and challenging time for MBA programmes. Geopolitical developments and other factors are affecting international MBA student movements, the pace of AI development is changing how and what is taught on MBAs and there is a growing array of MBA alternatives”, remarked Crisp.

He concluded: “Despite this, the MBA is still a flagship qualification; the onus is on business schools to keep up with the pace of change and deliver programmes that prospective students are looking for.”