(NewsNation) — Applications to Master’s of Business Administration programs at universities increased by 12% in 2024, the Graduate Management Admission Council said in a new report.
Columbia University’s Business School saw a 27% increase, Harvard received 21% more applications, the University of Chicago Booth School of Business’ applications increased by 22% and Northwestern’s Kellogg School of Management had a 23% uptick compared to a year ago. This follows two straight years of decreases, the Graduate Management Admission wrote.
“Across the industry, applications increased at record levels,” GMAC, which surveyed 1,090 programs at 297 schools at 40 countries, said.
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Data showed that applicants seemed to go for what GMAC characterized as “traditional” programs with longer legacies at business schools, including full-time MBAs, Master of Accounting and Master in Management degrees.
Many colleges saw application rates that outpaced the growth they saw during the pandemic when people went back to school due to COVID-related job losses. Full-time MBA programs reported more application growth than they had seen at any time in the last decade, GMAC said.
Most types of MBA programs reported higher levels of female applications, and women made up roughly half or more of applications to marketing, accounting, and management
master’s programs. Significant growth was seen in applications from first-generation students as well.
“With so much change happening in the business and societal landscape, due to artificial intelligence, a changing workforce, and challenges related to sustainability, business education is being recognized as more vital now than ever,” Greg Hanifee, associate dean of degree programs and operations at the Kellogg School of Management at Northwestern University, said in an interview with the Wall Street Journal.
