In a recent survey conducted by the Graduate Management Admission Council (GMAC), an 8.1% increase in applications for graduate business programs in the United States was reported for the 2024-25 academic year compared to the prior year. The findings indicate strong growth in full-time, in-person MBA programs, with 72% of institutions offering two-year MBA degrees reporting an uptick in applications.
Rise in Applications Across Various Programs
The survey also highlighted that 64% of universities experienced a rise in applications for one-year full-time MBA and online MBA programs, while 59% noted an increase in part-time program applications. Interest in online options remains robust, suggesting a diverse demand for graduate management education across various formats. Notably, traditional programs, including master’s degrees in accounting, management, and business administration, continue to attract significant attention.
Full-Time MBA Applications Surge
Full-time MBA applications have reached levels not witnessed in a decade, surpassing increases attributed to the COVID-19 pandemic. This surge is partly attributed to heightened interest among women and first-generation applicants. Moreover, the survey observed a correlation between the rise in applications and an increase in financial aid, with many graduate business programs extending support to a greater number of students this academic year. Nearly half (47%) of business graduate students in the U.S. received merit-based scholarships or fellowships, up from 37% five years prior.
Optimistic Outlook for Business Schools
The report presents an optimistic outlook for business schools, suggesting that the current year’s increase in applications is indicative of a strong demand for graduate management education. The data was collected from nearly 300 business schools across 40 countries and encompassed over 1,000 different graduate-level business programs, including 490 MBA programs.
Integration of Artificial Intelligence in Curricula
Additionally, the survey revealed a growing interest among business schools in integrating artificial intelligence (AI) into their curricula. Approximately 44% of respondents indicated that their programs explore the ethical implications and societal roles of AI, while 43% are developing courses focused on the integration of AI into business decision-making. Conversely, only 22% of schools reported not utilizing AI in their curricula at all. However, the admissions process has not yet fully acknowledged this trend, with just 13% of institutions having implemented policies regarding AI use by prospective students.
The Evolving Educational Landscape
Overall, this increase in MBA applications reflects a substantial interest in graduate business education while recognizing the evolving educational landscape shaped by technological advancements.
Source: Higher Ed Dive