A new study has revealed the declining appeal of studying internationally for an MBA, with less than one in five prospective students expressing a preference for studying overseas.
Survey responses from almost 2,000 prospective MBA students from 37 countries saw 19% express a preference for studying overseas, compared to 39% in the previous 2024 survey.
“Increasingly restrictive visa policies in several major MBA markets, geopolitical instability and the improving quality of domestic and online MBA programs” were cited as possible reasons for the decline by the study’s author and owner of CarringtonCrisp education insights provider, Andrew Crisp.
The inability to leave existing employment and the high cost of studying internationally were highlighted by students as the foremost barriers to pursuing an MBA overseas.
Conversely, nearly half of respondents (49%) said that studying internationally would give them the necessary experience to pursue an international career.
Nearly twice as many respondents expressed an interest in specialist MBAs rather than the traditional generalist MBA, driven by the growing importance of technology, data analytics and other industry-specific skills.
Unsurprisingly, AI (43%) was viewed as the most valued technology related specialism, followed by data analytics and decision making (33%) and technology management (31%).
The impact of AI on the MBA landscape goes far beyond learning about the topic, with students expecting to use AI tools to enhance learning experiences and receive personalised feedback and support, stated the report.
“Most importantly, the majority of respondents expected business schools to teach them how to use AI tools effectively in the workplace,” it said.
The primary motivation for wanting to study for an MBA was career outcomes, with one third of prospective students indicating that an MBA was “essential” to advancing their career.
The onus is on business schools to keep up with the pace of change
Andrew Crisp, CarringtonCrisp
What’s more, financial concerns dominated the list of barriers to pursuing an MBA, with 30% of prospective students reporting that fees were unaffordable and a similar proportion expressing doubts about whether the return on investment would justify the cost.
Cost-related obstacles have fuelled the rise of non-MBA pathways in recent years, perceived as offering value for money and greater flexibility.
One in five survey respondents indicated they were open to alternative options, with professional qualifications, specialised master’s degrees and certificates/ diplomas being the most popular.
Amid an “interesting and challenging time” for MBAs, Crisp advised business schools to “clearly articulate the distinct value proposition that an MBA offers”, adding that it remained a “flagship qualification”.
In stark contrast to 2024 when 66% of students favoured blended or hybrid study formats, this year’s survey revealed a shift back towards full-time, on campus programs, with a third of students expressing a preference for this type of learning.
“This shift may reflect a renew 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,” the report noted.