According to
recent data from the Graduate Management Admission Council (GMAC), applications to all business masters programmes including MBAs rose by 12 percent in 2024 compared to 2023, marking a clear reversal from the post-pandemic decline.
This recovery is being driven by full-time MBA programmes typically offered at top US schools like Wharton, Harvard and Stanford, with 80 percent of two-year MBA programmes and 64 percent of one-year MBA courses reporting application growth.
The resurgence spans internationally, too, with institutions like Spain’s IESE Business School reaching record enrolment numbers this year.
One major factor fuelling this demand is the adaptability of business schools to meet the evolving needs of students and employers.
New technological tools, flexible formats and innovative delivery methods have made MBA programmes more accessible and, some say, relevant.
GMAC chief executive Joy Jones notes that schools’ “efforts to continue innovating with new technologies, new delivery tactics and new ways of operating… satisfy the latest interests and needs of students and their future employers”.
Increased flexibility and digital learning options are drawing more applicants, particularly for MBA programmes that balance in-person and online learning.
Some students prefer the in-person experience but appreciate the option to complete parts of the programme remotely or on flexible schedules. Others, often when balancing family or work commitments, find that hybrid and online formats provide the best of both worlds, allowing them to earn a degree without uprooting their lives.
This aligns with what Lindsay Loyd, Executive Director for MBA admissions at New York University’s Stern School of Business, has observed at her institution. “Applications for NYU Stern’s full-time MBA class of 2026 were up 48 percent, the highest in 15 years,” she explains.
Stern’s New York City location offers a “living laboratory” for students, with hands-on learning projects and access to industry leaders across sectors. Loyd also attributes Stern’s popularity to its tailored options, which allow students to choose pathways in areas like technology, entrepreneurship, luxury and retail.
While full-time MBAs are making a strong comeback, specialised masters programmes are also on the rise, now accounting for half of all enrolments, according to figures from the Association to Advance Collegiate Schools of Business (AACSB).
Specialised degrees in areas like accounting, finance and management have attracted students looking to hone specific skills, particularly as job markets grow more competitive.
According to the latest report from AACSB, overall applications to AACSB-accredited programmes grew nearly 13 percent over the past six years.
AACSB president Lily Bi says: “Enrolment in graduate business programmes has not been immune to the complex changes in market forces in recent years. While our latest report reveals some of those fluctuations, the overall picture of master’s programmes… is one of strength and adaptability.”
Demand for specialised programs continues to increase. And, by offering these alternatives, schools are attracting applicants who may not have considered a traditional MBA but see the value in focused business education.
Some students are looking for specialised programmes in fields like data science, artificial intelligence and digital transformation, which have become integral to modern business strategies.
These niche programmes are often designed in collaboration with industry leaders and tailored to the needs of high-growth sectors, making them attractive options for students who want to deepen their expertise without committing to a traditional MBA structure.
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QS Insights Magazine.
