Based on results from nearly 5,000 candidates from almost 150 countries, the latest GMAC Prospective Students Survey offers new insights into the mindset of graduate management education (GME) candidates.
For more than 15 years, the GMAC Prospective Students Survey has provided the world’s graduate business schools with critical insights into the decision-making processes of people actively applying to, considering, or researching GME programs.
The 2025 report offers new perspectives—also discussed at a recent webinar, What’s Shaping the Future of Graduate Business Education?—about artificial intelligence (AI), degree and delivery preferences, and what makes a GME degree worth it to prospective students.
This year, new survey questions allowed us to dig deeper into how candidates value the integration of artificial intelligence and sustainability into their academic experience.
In 2024, 46 percent of candidates reported wanting to learn about AI in business school—up from 40 percent in 2023 and 29 percent in 2023. But what exactly do they want to learn?
The findings reveal that prospective students most want hands-on practice with AI, with particular attention to how the tools can help them develop business strategies and make decisions.
With regard to sustainability, roughly two-thirds of candidates report wanting the topic to be incorporated into their academic experience. And when these sustainability-concerned candidates were asked if they would still consider applying to a school that does not prioritize the subject, about one-third of them said no.
When it comes to employment opportunities, the survey found that about two-thirds of candidates agree that a potential employer’s commitment to ethical and sustainable practices significantly influences their decision to accept a job offer—including 22 percent who strongly agree—further highlighting the role that sustainability plays in candidates’ educational and employment planning.
2. Preference for business master’s programs and in-person learning are on the rise.
In the past year, the MBA remained the most preferred degree among global candidates; however, there has been a noticeable increase in preference for business master’s programs, with 39 percent of global candidates expressing preference for these degrees—up from 31 percent in 2023, but the same as pre-pandemic levels.
The bigger swings toward business master’s preference happened among pre-experience candidates and prospective students who are older than 30. Importantly, this shift away from MBA programs toward business master’s degrees was not seen among 23-24 and 25–30-year-olds, who more align with the typical profile of an MBA program.
The survey results also revealed year-over-year changes in preferred program modality. Since the pandemic, there had been decreasing preference for full-time-in-person programs as hybrid and flexible programs became more popular. However, 2024 saw a reversal of this trend, with the most pronounced swing back toward preference for in-person learning among 23-30-year-olds.
It is possible that program modality preferences are tied to trends in the broader workplace. Hybrid and flexible work appeared to be the new normal in the aftermath of the COVID-19 pandemic, with preference for hybrid and flexible GME increasing, too. Now as “return to office” mandates become more common, perhaps we are seeing a similar student interest in “return to campus.”
3. Candidates are seeking information about ROI amid persistent cost concerns.
Cost remains a top barrier to GME for candidates regardless of their demographic traits or geographic location. When asked to select three barriers that impact their decision to pursue GME, nearly half (48 percent) of global candidates cited the impact of cost, with an additional quarter citing how a lack of financial aid would impede their application plans.
The return on investment (ROI) of GME opportunities— encompassing the skills students develop and their future opportunities—remains candidates’ most considered factor when they research GME, and there has been a statistically significant increase in how many prospective students say this is among their most important factors when considering business school.
This rising focus on ROI comes alongside a significant drop in the share of candidates who say program rankings are among their top three factors when researching programs—from 37 percent of global candidates in 2023 to 29 percent in 2024.
4. The global flow of talent has been largely stable in the years following the pandemic but may be disrupted by political and economic headwinds.
The United States and Western Europe remain top study destinations for global GME candidates. However, candidates in India and to lesser extent in Greater China are increasingly considering programs at home. More than half of candidates in India plan to at least apply to a domestic program in 2024 compared to 38 percent prior to the pandemic, reporting that domestic programs are more affordable, closer to home, and increasingly competitive against global brands.
Policies in top English-speaking study destinations may further deter candidates’ consideration of pursuing GME abroad. As explained in a recent blog, the latest Prospective Student Survey data indicate that more international GME candidates say the outcome of the U.S. presidential election will impact their decision to study in the United States now that the election has been decided, and President Donald J. Trump has taken office. This hesitation comes as Canada and Australia have sought to implement caps in international enrollment, and the United Kingdom restricted international students’ dependents from traveling with them to the country.
With impediments to geographic mobility on the horizon as candidates’ degree and curricular preferences evolve, this year’s GMAC Prospective Students Survey report offers business schools critical insights into how to communicate their value to today’s GME candidates.
To learn more, you can answer your own questions about things like candidates’ degree and modality preferences or paths and barriers to business school with our interactive data tool. You can also find detailed region-level and degree-based insights in our supplemental data reports.