Global MBA Trends: What to Expect in the Future of Business Education
The global demand for a Master of Business Administration (MBA) qualification has been rising for some time now due to the growing recognition of its value in enhancing managerial and leadership skills.
As more professionals buy into the proven model of success that the MBA is built upon, the number of MBA courses offered at business schools worldwide continues to increase. This is one of many global MBA trends that are shaping the future of business education.
Let’s explore some of the other main trends in business education that students looking to study an MBA degree should be aware of.
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What is an MBA?
A Master of Business Administration is a postgraduate qualification that teaches standard business practices, preparing students for senior management roles across various business functions. It is the most popular professional degree and the number one choice for postgraduate education among students worldwide.
Accredited MBA courses allow students to experience all areas of business from marketing to accounting and can be tailored to individual career goals through specialisations embedded into some MBA programmes.
An MBA can be delivered full-time, part-time, on-campus or virtually over 12-24 months and is also available as a double qualification. With higher earning potential, career development and the opportunity to grow your professional network, MBA programmes are in demand around the world and continue to be a gateway to successful careers in business.
Top 5 global MBA trends
Below are the top five global MBA trends that are influencing the future of business education in 2024.
- MBA programmes are becoming more technology-led
One of the best things about MBA degrees is the updated curriculum that continually evolves in line with the latest trends in business education. This allows students to gain in-demand skills and explore the latest trends affecting real-world businesses.
Today, MBA programmes are addressing the ever-evolving technological advancements to provide students with essential skills for the digital age. The increased demand for digital skills has led to more emphasis on the impact of technology on business in MBA programmes. - More women are pursuing MBA degrees
One of the global MBA trends that has been consistent over the past decade is the increasing number of women pursuing MBA degrees. As MBA programmes become more flexible, inclusive and supportive to working professionals, more women are viewing MBAs as a viable option to further their careers.
It is reported that despite progress in the number of women pursuing MBA degrees, women still only account for 40% of MBA students at leading business schools. - Demand for MBA education with an international focus
Globalisation and the importance of international exposure in business have fuelled the demand for MBA programmes to have an international focus. More and more partnerships between business schools are enabling international exchange programmes for MBA students aiming to pursue a global career, while diverse programme curricula and further opportunities to build a global network are offering students an international business outlook. - Increased popularity for finance specialisation
While looking at trends in business education, it is interesting to note the sectors that are favoured by MBA students. With many specialisations available for students to tailor their MBA degree, finance has seen a rise in popularity with a 26% increase from 2016 to 2022.
With top global recruiters in the finance industry including Goldman Sachs and Morgan Stanley looking to hire MBA graduates, more students are looking to gain in-demand skills with knowledge of the latest trends in finance.
As well as finance, other fast-growing MBA specialisations are data analytics, quantitative methods and strategic management. This helps paint the picture of the future of business education. - Rise in demand for online and part-time MBAs
Reflecting the direction of the workplace, which has seen a significant increase in hybrid and remote working models, the future of business education continues to head towards distance and online learning. One of the trends in business education has also seen an increase in the popularity of part-time MBA programmes.
According to the Graduate Management Admission Council’s 2020 Applicant Survey Report, part-time MBA programme applications increased by 53% between 2019 and 2020 while flexible MBAs grew by over 48% and online MBAs grew by over 43%.
As digital platforms continue to gain popularity, due to their accessibility and flexibility for students, business schools are increasing the number of MBA courses delivered online, with 80% of business schools already offering online degrees. The rise in demand for online and part-time MBAs is only going to see this number increase.
Other factors shaping the future of business education
As well as the global MBA trends mentioned above, several other factors are influencing the future of business education in 2024.
The ‘dropout phenomenon’ is often cited in entrepreneurial circles with high-profile names like Mark Zuckerberg, Steve Jobs, Bill Gates and Richard Branson all becoming billionaire entrepreneurs despite not completing an undergraduate degree. However, the growing interest in entrepreneurship and innovation is leading more entrepreneurs to study an MBA degree.
The MBA’s reputation for strengthening careers, increasing earning potential and developing in-demand skills is a pathway for entrepreneurs to learn about proven business practices and build a platform for a successful entrepreneurial career.
Another factor that is influencing the future of business education is the increased popularity of micro and mini-MBAs. Professionals are opting for alternative MBA qualifications, offering skills-based online courses which are shorter and cheaper than a traditional MBA. These MBA courses offer specialised skills tailored to your career and field.
As well as this, preparatory MBA courses have become popular among budding business professionals looking to sharpen skills and prepare for a successful career in business.
Study an MBA at BSBI today!
If you’re interested in pursuing an MBA programme to enhance your career prospects in the business field, discover the Berlin School of Business and Innovation (BSBI) today.
Offering a traditional MBA and two Global MBA programmes, BSBI gives students the opportunity to develop in-demand skills and knowledge to kickstart a successful international career in business.
Delivered with our academic partners, the University for the Creative Arts, Concordia University Chicago and UNINETTUNO, the three MBA programmes offer extensive curricula exploring the latest global business trends, experienced faculty and ample opportunity to grow your professional network.
Invest in yourself today by exploring our postgraduate programmes in the Faculty of Economics & Business Administration here.