Forget The Rankings: New GMAC Survey Shows What Drives MBA Decisions Today

Forget prestige and rankings — today’s prospective MBA students are demanding something more tangible: value.

That’s the central message of the 2025 Graduate Management Admission Council Prospective Students Survey, which paints a portrait of a global applicant pool focused on return on investment, real-world skill development, and programs that offer practical applications of artificial intelligence and strategic thinking.

“Employers have consistently informed us that they value hallmark skills like strategic thinking and problem-solving,” says GMAC CEO Joy Jones. “Once again, we found that prospective students are on the same page with their future employers.”

STRATEGIC THINKING, POWERED BY AI

The report, based on responses from 4,912 candidates in 147 countries, reveals a generation of applicants who are ROI-focused, AI-curious, and increasingly interested in programs that can deliver measurable results in a rapidly changing job market.

One of the clearest signals: Today’s candidates aren’t just hoping to learn the basics of business. Nearly half of respondents said they want artificial intelligence embedded directly into the curriculum — not as a theoretical exercise, but as a tool to enhance real-world decision-making.

“Candidates are expecting hands-on experience utilizing AI for strategy and decision-making,” the report notes.

Business schools, in turn, have an opportunity to go beyond hard skills. “Employers have also identified socio-emotional skills as critical to becoming a business leader,” Jones adds. “This presents a great opportunity for business schools to encourage their current and future students to hone and highlight teamwork, adaptability, and emotional intelligence.”

ROI STILL REIGNS IN AN UNCERTAIN ECONOMY

While AI may be the hot topic, cost and ROI remain dealbreakers. In a turbulent global economy, candidates — regardless of region, gender, or career stage — are weighing the opportunity cost of leaving the workforce and demanding programs that deliver on their promise.

The survey found that nearly 70% of respondents identified financial concerns — including tuition, living expenses, and opportunity cost — as key obstacles. At the same time, 47% of prospective students ranked ROI among their top three decision-making factors, up from 42% the previous year.

“ROI remains prospective students’ most considered factor when researching graduate management education,” GMAC found. The number of candidates citing ROI as one of their most important decision-making criteria has increased noticeably since last year.

There’s also growing caution around certain sectors. While consulting and finance remain the most sought-after post-graduation paths, interest in tech has dipped — a likely response to widespread layoffs and slower hiring even in business-facing tech roles.

MBA LEADS — BUT SPECIALIZED DEGREES ARE CATCHING UP

Though the MBA is still the top choice globally, the gap is narrowing. This year’s report found a meaningful uptick in the number of candidates preferring specialized business master’s programs, especially among pre-experience candidates and older professionals seeking career pivots.

The survey found that 47% of global respondents cited the MBA as their preferred program type — still the leading choice, but down slightly from previous years. In contrast, interest in such business master’s degrees as the Master in Finance and Master in Management, rose significantly, especially among pre-experience candidates and those over age 30.

The data shows that nearly 1 in 3 candidates now prefer specialized master’s programs, reflecting a growing demand for shorter, targeted degrees that offer faster career transitions or focused skill development in specific fields.

“For the more seasoned professionals seeking to pivot their career or college students contemplating becoming an accountant or marketeer, a relatively shorter and specialized business program could be an ideal educational path,” says Martin Boehm, executive vice president and global dean at Hult International Business School and a GMAC board director.

IN-PERSON LEARNING MAKES A POST-PANDEMIC COMEBACK

After several years of growth in interest in hybrid and online programs, this year’s survey shows a rebound in demand for in-person instruction — both full-time and part-time. While flexibility remains essential, many students are signaling that face-to-face education still holds major value.

The U.S. and Western Europe remain top destinations for international candidates, but affordability and proximity are increasingly influencing decisions in emerging markets. Candidates from regions like Africa, the Middle East, and Asia are balancing financial realities with a desire for locally relevant education in fast-growing economies.

“As the global economy becomes increasingly uncertain, we’re seeing candidates from around the world seeking out the value for money, unique perspectives, and hands-on experience with complex problems they can gain by studying in regions with young populations and fast-growing, dynamic markets,” said Catherine Duggan, dean of the University of Cape Town Graduate School of Business and chair-elect of the GMAC Board.

See GMAC’s full 2025 Prospective Students Survey report here. 

AND READ P&Q’s REPORTS ON LAST YEAR’S GMAC PROSPECTIVE STUDENTS SURVEY HERE AND HERE