GMAC Annual Survey Finds Motivations for Advanced Business Education Are Evolving
RESTON, Va., March 26, 2024 (Globe Newswire) — As the world emerges from a tumultuous year that witnessed greater geopolitical conflict, economic uncertainty, a volatile job market, and disruptive technology. , individuals are beginning to look to graduate management education with new knowledge. I found my focus. Prospective business school students approach study, work, and life with purpose, according to an annual global survey of business school applicants released today by the Graduate Administrators Admissions Council (GMAC). However, he is aiming to improve his skills. The survey found that more than two-thirds of potential students agreed that equity, inclusion, and sustainability are important or very important to their academic experience. Additionally, three-quarters of candidates enter higher education with a view to well-being (as defined by the United Nations Sustainable Development Goals of zero poverty, zero hunger, clean water and sanitation, decent work and economic growth). ) is important. , many of them will exclude schools from consideration if these themes are not incorporated into the curriculum.
Also driving prospective students' interest in advanced business education is an innovative technology called generative artificial intelligence (AI). Demand for candidates has increased by 38% year-on-year, with two-fifths now saying it is essential to their curriculum. Interest was highest among people in the Middle East and Latin America, as well as millennials and men. Global interest in STEM certified business programs has also increased by 38% in his five years and has reached new heights in Asia, driven by demand in India and Greater China.
“The 2024 Prospective Survey reveals that candidates expect a graduate business education to help them increase their social impact as part of their professional and personal goals. They want to build evergreen skills such as leadership in an uncertain world, data-driven problem solving, and effective technology and human capital management, even as delivery formats and learning destination preferences change. Their aspirations remain strong,” said Joy Jones, CEO of the company. GMAC. “We are encouraged by how today's candidates are adapting and firmly establishing their career trajectories to meet new global challenges in an ever-evolving business environment. For business schools, the wide range of degree offerings and course flexibility creates significant opportunities to meet the ever-changing demands of candidates and industry.”
The demand for flexibility is reaching new heights.
Over the past five years, interest in hybrid learning at the expense of in-person learning has increased around the world. Most hybrid candidates want to spend at least half of their class time in-person and the remainder online. This growth is seen across the region except for Central and South Asia, with Africa and North America having the highest preferences for hybrid learning. Not surprisingly, this is consistent with previous year's findings, with women more likely than men to prefer hybrid programs, compared to 20 percent of female candidates with this preference. In contrast, for men, she is 15 percent.
“This year's prospective student survey provides further evidence of a growing desire for candidate flexibility,” said Andrew, Director of Research, Analytics and Communications at GMAC and author of the report.・Mr. Walker said. “Interest in hybrid learning is growing across regions and demographics as hybrid workplaces become increasingly available and expected of future employees. is the most preferred delivery format among test takers, but its dominance among test takers is waning.”
Affordability and growth of high-quality educational institutions in the region will reshape global student mobility.
While the United States remains the top destination for most business school applicants around the world, multi-year survey data shows that more applicants than ever are choosing to study abroad rather than abroad, especially in their countries of origin, particularly in Asia, Latin America, and other countries. America, Eastern Europe. For example, most Indian candidates are now planning to apply domestically, increasing from 41 percent in 2022 to 53 percent in 2023. Among them, most candidates cited affordability as the top reason, followed by the reputation of India's education system. At the same time, test takers from Greater China are less interested in studying in the United States, dropping 9 points from 2019 to the lowest level in five years. While Chinese candidates still associate the United States with its career readiness, reputable education system, and attractive location, interest in studying in Western Europe remains strong. , the majority are associated with programs in Western Europe, and these programs tend to be of short duration. Long lasting, affordable.
“With quality educational institutions and economic opportunities continuing to grow in Asia, it is no wonder that many candidates choose to stay close to home instead of traveling far away,” said Ventech China. said Curtis Alan Ferguson, Managing Partner and Director. GMAC's. “Having said that, graduate business programs in the United States and Western Europe still enjoy considerable advantages due to the well-established reputation of their educational systems and the thorough preparation of candidates for their careers. I am.”
About the questionnaire for prospective students
With over 15 years of survey responses representing all regions of the world, the GMAC Prospective Admissions Survey provides key insights into the decision-making processes of people currently considering applying to graduate management education programs worldwide. We have provided this information to several graduate school business schools. This year's overview report considers data collected in his 2023 calendar year from her 4,105 respondents in 132 countries around the world. Of these, 42 percent were women, 61 percent were Gen Z, and 29 percent of the U.S. sample was from underrepresented populations. The survey continues to examine trends in candidate pipelines, program preferences, and career goals, and this year's survey includes candidates' commitment to equity and inclusion, sustainability, and health and well-being in their academic experience. A new question about demand has been added. The report also considers the growing interest in AI. Evolving candidate expectations for flexibility. The motivation behind the liquidity of candidates from major markets. Certification and microcredentials trends. and continuing patterns in candidates' career preparation and upskilling.
About GMAC
The Grade Management Admission Council (GMAC) is a mission-driven association of leading business graduate schools around the world. GMAC provides world-class research, industry conferences, recruiting tools, and assessments for the graduate management education industry, as well as resources, events, and services to help candidates advance into higher education. Owned and administered by GMAC, the Graduate Management Admission Test™ (GMAT™) exam is the most widely used graduate business school assessment.
More than 12 million prospective students a year use mba.com, GMAC Tours to learn about MBA and business master's programs, connect with schools around the world, prepare and register for exams, and get advice on how to take the exam. I trust GMAC's platforms, including Business Because. To successfully achieve your business education and career goals. GMAC is a global organization with offices in China, India, the United Kingdom, and the United States.
To learn more about our work, please visit www.gmac.com.
Media contact:
Theresa Su
Senior Manager, Media Relations
Mobile phone: 202-390-4180
thsu@gmac.com
