If you are interested in getting your MBA, there have been many changes to business schools and their programs in the past five years (i.e. online MBAs). It is beneficial to not only get as much information as you can on the programs that meet your criteria, but also on the business (and international business) landscape. Here are some business school trends you can expect for this year.
- Specialized MBAs — There will be new areas of specialization for MBAs, including entrepreneurship, luxury management and analytics. Also, since there are more startups popping up in Europe and Asia, there will be a focus on studying in these areas, particularly in India.
- Growth in Europe — Due to Brexit, there will be additional growth in Europe. Students with global interests should look into studying in the United Kingdom because Brexit will position this region to support new business opportunities (i.e. startups).
- A Decline in US Applications — There is a decreasing number of applications in the United States, especially international students, because of the ongoing immigration issue. Also, the United States economy is strong, which is keeping potential applicants at their jobs as well as providing opportunities at work. Lastly, the price of an MBA is off-putting to many, and financial aid is very low.
- An Increase in MBA Hires — Experts predict more corporate acquisitions and mergers due to current low corporate tax rates. This means corporations will have more money to reinvest, pay out bonuses, invest in other companies … etc. Thus, the market will be ripe for MBA graduates to meet the needs of banks and private equity firms.
- Educational Technology — There are online MBA programs, which deliver MBA courses and materials to meet students’ hectic schedules. But, there is new technology for the MBA classroom, specifically gamification. Gamification gives students a real-world perspective of owning a business via a business simulation. Students play roles in running a business, which increases learning and engagement.
- Amazon’s Hiring of MBAs — Amazon stock has dropped, which does not bode well for MBAs. The reason: Amazon is the single largest employer of MBAs according to Poets & Quants. The Trump Administration is pursuing antitrust charges against Amazon. This could be disruptive to Amazon’s hiring of MBAs, and can even affect employees at the e-commerce giant.
It is important to be aware of these trends, but they should not deter you from your MBA goal.