By james art An increasing number of professionals are applying to business schools, The Wall Street Journal reports.
Applications for MBA programs increased by 12% in 2024, according to a global survey from the Graduate Management Admission Council. After two years of decline, applications for full-time in-person degrees rose 32%, the highest level in a decade. Applicants for the American programs were mostly American.
Potential factors driving renewed interest in pursuing an MBA include artificial intelligence eliminating certain jobs, a reduction in job hopping, and limited white-collar jobs for recent college graduates.
Accredited US business schools, including Stanford Graduate School of Business, Yale School of Management and the University of Pennsylvania’s Wharton School, saw double-digit increases in program applicants.
According to payroll provider ADP, hiring for positions that typically require a bachelor’s degree has declined in recent months, falling below 2019 levels. The decline has hit professionals in their early 20s particularly hard, as more experienced workers stay in their positions longer.
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