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MBA application trends from last season reveal that demand is up! The Graduate Management Admissions Council (GMAC) publishes MBA application trend reports each year. Its latest report shows record growth in MBA applications. This follows a decline in application volume the previous year.
In this article, we’ll discuss trends in admission. Specifically, we’ll look at MBA enrollment trends 2023 vs. MBA enrollment trends 2024. We’ll share the factors driving a rise in MBA applicants. We’ll also discuss what this means for an MBA in 2024.
Here are the topics we’ll cover:
- What Are the Factors Driving Growth in MBA Applications?
- How Have MBA Application Trends Changed in the Last 10 Years?
- Trends in MBA Programming in 2024
- Key Takeaways
- Frequently Asked Questions (FAQ)
- What’s Next?
First, let’s discuss the factors that are increasing demand for MBA degrees.
What Are the Factors Driving Growth in MBA Applications?
GMAC’s most recent Application Trends Survey shares MBA enrollment trends. Its recent report shows that total applications grew across most MBA programs. This is a reversal from last season, which saw a slight decrease in application volume:
According to GMAC, MBA application numbers increased in the following areas:
- Full-time, in-person programs: The largest share of the rise in applications was among full-time, in-person programs. This group comprises both two-year and one-year MBA programs. This cohort saw its greatest increase in applications in 10 years.
- Online and hybrid programs: Online and hybrid programs also saw an increase in applications last season. Applicants have a growing interest in pursuing at least part of the degree remotely.
- Women: According to GMAC, more than half of each MBA type reported growth in applications from women. For example, the number of women applying to two-year MBA programs grew by 69% from last year.
KEY FACT:
MBA applications overall increased significantly, driven by interest in full-time, online, hybrid programs, and more women applicants.
However, not all programs saw a rise in applications last year. Some programs reported decreases. Let’s take a closer look at which programs had decreases in application volume.
Which MBA Programs Received Fewer Applications?
While many MBA programs reported increases in applications, some cohorts reported an MBA application decline.
According to GMAC, two cohorts were most likely to report decreases in application volume. They were:
- Part-time, in-person MBA programs: Just 46% of part-time, in-person MBA programs reported growth in applications last season. A slightly larger portion (49%)reported a decline in applications last season.
- Executive MBA programs: Executive MBA trends have also changed. Just 43% of executive MBA programs reported an increase in applications last season. A slightly larger proportion(49%)reported a decline in applications last season.
This graph describes which of the MBA programs saw the most growth and most declines:
KEY FACT:
A greater portion of part-time MBA and executive MBA programs saw decreases in application volume.
Next, let’s dig into regional trends in MBA applications.
How Did MBA Applications Change Across Regions?
MBA application trends from the 2022–23 season saw declines in application volumes across many programs in Europe, Asia, and the Pacific Islands. However, many regions reported growth last year. GMAC noted the following trends:
- Domestic applicants:This pool of applicants drove growth in application volume in the U.S., Asia, and Europe (not including the U.K.)
- International applicants:India and China sent talent across many of the regions, whereas Nigeria was among the top sources of candidates to North American programs.
- Decreases in application volume: Regional decreases in application volume were reported in the U.K. across the board and in Canada (among total and international candidates).
This graph shows which regions saw growth and declines in application volumes:
KEY FACT:
Last year’s growth in application volume was driven by domestic candidates, but many regions reported growth in applications from international candidates, too.
So, how do these trends affect your chances for admission to top MBA programs? Let’s take a look.
How MBA Application Trends Affect Your Candidacy
With a growth in MBA applications, you may be wondering if MBA acceptance rates are decreasing. MBA admissions statistics vary. This also depends on your target institutions and when you apply.
If you’re applying for programs that have increased applications, you might conclude that MBA admissions requirements are more stringent. This is most likely true for top MBA programs. For example, HBS reported a 20.9% increase in applications last season. Therefore, it’s reasonable to conclude that the competition was more significant than it might have been in the prior season.
However, keep in mind that an increase last year doesn’t mean there will be an increase in applications this year. We won’t know how many applications were submitted in the 2024–25 season until it has concluded in the spring. Therefore, we won’t gain a full understanding of what that means for your applications this season until later on.
If you’re applying to a program that saw declines in applications last year —such as a part-time program or an executive MBA that was more likely to report a decline —you might infer that the admissions process will be less competitive this year. However, it’s too early to determine whether application volume will remain down in those segments for the current season.
KEY FACT:
An increase in applications for your target programs will likely mean the admissions process is more competitive, while a decline will likely mean that the process is less competitive.
Next, let’s look at the 10-year trend for MBA applications.
How Have MBA Application Trends Changed in the Last 10 Years?
Let’s take a look at application trends for two-year and one-year MBA programs across the last 10 years. GMAC reports that last year’s spike in MBA applications is the most significant growth in 10 years.
See how this breaks down across two-year and one-year MBA program applications:
As you can see, the majority of MBA programs reported declines in applications in 2022 and 2023. However, a significant majority of MBA programs (especially two-year programs) reported increases in application volume in 2024. This is the most significant growth in the last 10 years.
GMAC reports that last year’s spike in MBA applications is the most significant growth in 10 years.
Trends in MBA Programming in 2024
In addition to reporting on application volume, GMAC’s report also reports on MBA programming. The most significant programming topic from this year’s report concerns Artificial Intelligence (AI).
GMAC reports that the majority of business programs have integrated AI into their curricula. Trending MBA courses include business ethics, decision-making, practical applications, and strategy development.
However, the use of AI in the admissions process is less clear. GMAC reports that most programs do not have formal policies on the use of AI in the admissions process. Only some programs prohibit the use of AI in admissions.
GMAC concludes that AI is an area that is likely to evolve in future business curricula and in admissions.
KEY FACT:
Most business programs have integrated AI into their curricula.
Key Takeaways
This year’s application data reveals increasing interest in MBA programs. However, GMAC’s data focused on the 2023–24 application season. We do not yet know what this means for the 2024–25 application season.
These questions remain:
- Will we see continued interest in MBA programs this year?
- Will the admissions process be more competitive?
- Does it make sense to apply for an MBA?
We’ll keep tabs on MBA application trends and what they mean for you and your applications in the coming months.
Frequently Asked Questions (FAQ)
Will there be an increase in MBA applications in 2025?
Anecdotally, we can report that MBA application volume remains strong at the end of 2024. However, we don’t have all of the data for the 2024–25 application season just yet. We will check back with GMAC’s reporting to see how this year’s application volume compares to last year’s. Stay tuned for details in the coming months.
Which MBA is currently in demand?
According to GMAC, the strongest demand for MBA programs is across full-time, in-person programs (two-year and one-year MBAs). Additionally, online and hybrid MBA programs have reported increasing demand.
GMAC reported declining demand for part-time and executive MBA programs. However, some programs reported a rise in applications for these programs last season.
What is the most popular degree for an MBA?
The most popular degrees for an MBA last season were two-year, one-year, hybrid, and online MBA programs. Additionally, some part-time and executive programs reported increases in application volume, too.
Will it be easier to gain admission to a top MBA program in 2025?
The answer to this question depends on which programs you are applying to. Increases in applications tend to make the admissions process more competitive. For example, a 20.9% increase in applications at HBS signals a more competitive admissions process. Conversely, a decline in applications may mean the process is less competitive. We believe that an overall increase in MBA applications generally results in a more difficult admissions process.
What matters most in an MBA application?
MBA admissions committees evaluate applications holistically. In other words, they review each of your application components together. These components include your:
- MBA application essays
- resume
- interview
- transcripts
- test scores
and more.
No single component will make or break your application.
How should I time my MBA application?
We don’t believe in timing your application —it’s impossible to predict future trends. As this article explains, MBA application trends change each season.
Instead, you should apply for an MBA when it makes the most sense for you. Take stock of your career goals and choose a mix of safety, competitive, and reach programs.
What’s Next?
It’s important to stay on top of MBA application trends. Ultimately, you should apply when it’s best for you. We can help! To learn more about the MBA application process and discuss your goals, request a free consultation with one of our expert admissions consultants.
