Market Intelligence

Prospective
Students Survey
2024 Report
W ith venture capital flowing into environmental startups and the
transformative capabilities of generative AI reshaping what we can
accomplish in the workplace, GME candidates are preparing for careers that
involve leading organizations to equitable and sustainable futures. The GMACTM
Prospective Students Survey 2024 Report reveals candidates are evaluating how
graduate business school can help them advance social impact as an increasingly
important aspect of their professional and personal goals. As business schools add
new curricular innovations, candidates want to develop the skills that they have long
expected from business schools—problem-solving, strategy, and analytics—and have
experiences that allow them to apply these skills in high-impact areas. When core
business capabilities are paired with insights into new technologies and sustainable
growth, GME graduates will be equipped to address whatever new global challenges
or opportunities the future may hold.

Joy Jones
CEO, Graduate Management Admission Council

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 3

Table of contents
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Executive summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Key findings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
What’s new in 2024 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Business & STEM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Demand for flexibility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
Candidate mobility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38
Program preferences & alternatives . . . . . . . . . . . . . . . . . . . 50
Skills & careers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63
Methodology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64
Respondent profile . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65
Appendix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66
Contributors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 5

Introduction
For more than a decade, the GMACTM Prospective Students
Survey (PSS) has provided the world’s graduate business 2023 Survey sample stats
schools with critical insights into the decision-making

4,105
processes of people actively applying to, considering,
or researching graduate management education (GME)
programs. Its questions—covering a diverse range of Survey respondents
topics that impact prospective students’ application and
enrollment decisions—provide school professionals

132
with timely, relevant, and reliable market intelligence
to inform how they engage with candidates to build Countries of
their incoming classes. Respondents include candidates
citizenship represented
who visited GMAC’s web properties (i.e., mba.com,
businessbecause.com, callingalloptimists.com,

42%
gmac.com, gmat.com.cn, and social media accounts)
to learn about and prepare applications to GME
programs. Respondents may also be members of partner Female respondents
organizations (e.g., Forté Foundation, Beta Alpha Psi)
who are interested in GME.

61%
This year’s report, which considers data collected
throughout the 2023 calendar year, continues to Gen Z respondents
explore trends in the candidate pipeline, program
preferences, mobility considerations, and career goals.

29%
The first section builds on previous year’s results about
candidate interest in social impact, leveraging the U.N.
Underrepresented
Sustainable Development Goals as a framework. It
focuses on new questions added to this year’s survey
U.S. respondents
about candidate demand for equity and inclusion,
sustainability, and health and well-being in their
academic experiences. The report then considers
surging interest in artificial intelligence (AI); evolutions
in candidate expectations for flexibility; motivations
behind candidate mobility from key markets; trends
in certifications and micro-credentials; and the
ongoing patterns in candidate career preparation and
upskilling. Each section begins with actionable insights
for program and recruitment consideration, then
expands on some of the key points that emerged from
this year’s analysis.

6 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

Survey results are reported as percentages or population Interactive data report
parameters, also known as estimates. To assess the
magnitude of differences between groups or across School professionals with gmac.com accounts can access
survey years, 95 percent confidence intervals are used. an interactive data report that allows users to filter
When reporting group differences, this report largely and explore the survey data to answer their specific
discusses and visualizes statistically significant group questions about global GME candidates. For instance,
differences in its analysis, though also comments they can group results by candidate characteristics such
on results that are not statistically significant but as gender, age, generation, region, undergraduate major,
signal interesting trends. Results are weighted with program type considered, intended study destination,
known population figures to make the findings more and post-GME career interest. They can also explore
generalizable to all those interested in pursuing graduate the funding intentions of prospective students as
management education worldwide. Region and country- well as the criteria that most influence their selection
level results are not weighted. decision. Graduate business school professionals can
use the survey results to better understand their
This analysis is intended to comment on trends and target audience, build messages and brands, allocate
patterns—not to imply that any one group is monolithic resources, and develop recruitment strategies for
in their preferences and behaviors. their institutions. School professionals can view the
accompanying tutorial video to learn how to make the
most of this tool. They can also schedule a call for a
Why these data are walkthrough demonstration with the GMAC research
team by emailing [email protected].
valuable and reliable
The path to pursuing GME is complex and requires School signup for
several decisions along the way. Understanding various
aspects of candidate decision-making and discerning future surveys
how these decisions evolve year-to-year can provide
business school professionals with insights into the Visit gmac.com/surveysignup today to include your
candidate mindset. Appreciation for the nuances and school in GMAC’s annual research studies of enrolled
commonalities of candidates’ journeys to GME can students, employers, and admissions professionals.
enhance business schools’ strategies to position the Sign-up for GMAC surveys continues year-round. Benefits
value of their programs and inform their recruitment, of participation include service to the industry, pre-
marketing, and admissions efforts. release benchmark reports, and access to interactive
online research tools.
With more than 15 years of survey responses
representing all world regions, this annual survey of
prospective graduate business school students is the go-to
resource of its kind available to the GME community.
No other data source currently available provides the
breadth and depth of sample and data to business
school professionals.

Additional information on the survey methodology and

analytical procedures underpinning the survey and this
report can be found on 64.

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 7

8 Graduate Management Admission Council™ | Prospective Students Survey Report 2024
About GMAC
The GMAC Prospective Student Survey – 2024 Report is a product of the Graduate Management Admission
Council™ (GMAC), a mission-driven association of leading graduate business schools worldwide.

GMAC provides world-class research, industry conferences, recruiting tools, and assessments for the graduate
management education industry, as well as resources, events, and services that help guide candidates through
their higher education journey. Owned and administered by GMAC, the Graduate Management Admission Test™
(GMAT™) exam is the most widely used graduate business school assessment.

GMAC is dedicated to creating access to and disseminating information about GME. School and industry leaders
rely on the Council as the premier provider of reliable data about the graduate management education industry.

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 9

 Executive summary

Poised at the intersection of industry and academia, GME curricula. This expanding interest in AI is part of a
business schools are uniquely positioned to embrace growing preference for programs that offer coursework
new technologies and tackle intractable global problems. at the intersection of business and STEM. More than half
A surge in candidate interest in artificial intelligence of candidates from India and Greater China now prefer
and new demands for academic and operational action STEM-certified GME programs, especially those who may
around sustainable development means graduate business be looking to take advantage of more generous optional
schools must draw on their dual academic and professional training opportunities (OPT) for STEM students in the United
expertise to meet the demands of future students—and the States. However, business schools must watch for new
future workplace. gender gaps emerging in candidates’ AI and STEM interests,
especially as women are working against the social and
Last year, respondents indicated interest in sustainability economic systems that drive them into certain educational
and corporate social responsibility in the classroom. To paths and consequent career outcomes.
help graduate business schools parse through candidates’
expectations for social impact, this year’s GMAC Prospective Across the globe, candidates’ preference for hybrid
Students Survey asked new questions about equity and programs is growing as demand for in-person programs
inclusion, sustainability, and health and well-being, using contracts and interest in online programs remains stable.
the U.N. Sustainable Development Goals framework to However, preference for in-person learning still trumps
define each topic. The importance of these sustainable other delivery methods, and candidates interested in
development principles to candidates is striking—nearly hybrid models still value their time in the classroom. Most
three quarters of prospective students say each is hybrid candidates want to spend half or more of their class
important or very important to their academic experience. time in-person and the rest online.
Even more critical is the number of candidates who say
these topics are a dealbreaker in their evaluation of GME In addition to new insights about delivery format,
programs. Among these SDG-concerned candidates, more this report examines candidate mobility with a focus
than one-third say they would not consider applying to on trends in India, Greater China, and the African
a school that does not prioritize sustainability or health continent. Indian candidates are showing more interest
and well-being, and more than half would not consider a in studying closer to home, while affordability and safety
school that lacks equity and inclusion efforts. These results considerations are leading to declining interest among
indicate that these topics cannot be limited to classroom Chinese students to study in the United States. Key markets
discussions, but must also be integrated into the operations in Africa such as Nigeria and Ghana are home to large
of the school itself to satisfy candidate expectations. and growing populations of young adults—GME prospects
who are especially interested in entrepreneurship and
Candidate interest in artificial intelligence has also international opportunities but have comparatively higher
exploded in just the last year, with double-digit, cost concerns and financial aid expectations.1
statistically significant growth in the share of candidates
from East and Southeast Asia, Latin America, the Middle
East, and the United States who say AI is essential to their

1 El Habti, Hicham. “Why Africa's Youth Hold the Key to Its Development Potential.” World Economic Forum, September 19, 2022. https://www.weforum.org/agenda/2022/09/why-
africa-youth-key-development-potential/.

10 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

The two-year full-time MBA returned to the top spot as
prospective students’ most preferred degree type, and the
MBA of any duration has maintained stable interest from
candidates over the past five years. Meanwhile, candidate
interest in professional certifications as alternatives to
GME degrees has increased somewhat over the past five
years, especially among candidates interested in more
flexible programs. In the classroom, prospective students
still look to sharpen their problem-solving and data
analysis skills. In the workplace, most candidates still
hope for careers in consulting, with technology being
the second-most popular industry among millennials
and finance careers being second-most popular among
Gen Z prospects.

Last year’s Prospective Students Survey report revealed

the multidimensional considerations that candidates
factor into their GME decision-making. Across geographies
and demographic types, prospective students reported
wanting traditional outcomes like increased income and
enhanced networks alongside personal development
and societal impact. If last year’s report examined
why candidates want to pursue GME, this 2024 report
focuses on how candidates want to pursue GME. The
report digs deeper into how candidates weigh different
dimensions of sustainable development, what they want
flexibility to look like, where they want to study—and
how business schools can understand these decisions to
provide curricular opportunities that meet candidates’
multidimensional personal and professional goals.

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 11

 Key findings 2024

What's new in 2024 Demand for flexibility

• More than two-thirds of candidates say equity and • Preference for hybrid learning increased globally over
inclusion are important or very important to their the past five years (with the exception of Central and
academic experience—and more than half of them say South Asia), with most of these candidates expressing a
they won’t consider a school that lacks these efforts. desire to spend at least half the time in the classroom.

• More than two-thirds of candidates say sustainability • Preference for in-person learning is declining but is still
is important to their academic experience—and a the most preferred delivery format; interest in primarily
third of them say a school not prioritizing sustainability online delivery remains stable.
is a dealbreaker.
• Nearly half of candidates who want to get their degrees
• Three-quarters of candidates say well-being efforts— online still do not believe it will be as valuable as an
focused on things like eliminating poverty and hunger— in-person experience.
are important to their academic experience.

Business & STEM Candidate mobility

• Candidate demand for AI grew 38% year-over-year, • More candidates than last year prefer to study within
with two-fifths now saying it is essential to their their country of citizenship instead of internationally,
curricula. Candidate interest is highest among those especially in India and Nigeria.
from the Middle East and Latin America as well as
among millennials and men. • Interest in studying in the United States among
candidates from Greater China has hit a five-year low,
• Global interest in STEM-certified GME programs grew with a plurality of Chinese candidates now wanting to
39% in five years—and to new heights in Asia, driven study in Western Europe in part due to its association
by demand in India and Greater China. with affordability.

• Candidates from Africa want to create and lead

companies post-GME but are concerned by cost of
business school and the economy—and their financing
plans rely more on financial aid and less on loans
compared to the global average.

12 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

 68%
Candidates who say
sustainability is important
to their academic experience
Program preferences
and alternatives

42%
• The two-year MBA recaptured the top preferred
Candidates who prefer
degree spot from the one-year MBA, and the Master
full-time MBA programs
of Management resurged in popularity.

• Candidate interest in professional certifications as

alternatives to GME degrees has increased somewhat

38%
over the past five years, especially among candidates
interested in more flexible programs.
Growth in demand for
AI courses

33%
Candidates who considered
professional certifications as
alternatives to GME

Career & skills

17%
• Consulting is again the top post-GME industry for both
Candidates who prefer
millennials and Gen Z. For millennials, the second-most
hybrid learning
popular sector is technology, while finance is the
second-most popular industry among Gen Z candidates.

• Strategy and business analytics are the most desired

curricular components among candidates and problem-
solving and data analysis and interpretation are the
top skills they expect to learn from GME.

• Consistent with their curricular preferences, women

expressed greater interest in consumer products, media
and communication, and nonprofit sectors, while men
are statistically more likely to seek careers in financial
services, investment banking, and technology.

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 13

 Program and

What's new recruitment takeaways

• Candidates from Africa and Asia are

in 2024
especially likely to say equity and
inclusion, sustainability, and well-
being are important to their academic
experience, but they are typically less
likely to say they will not consider a
school based on these dimensions.

• Candidates from Canada and Eastern

Europe are less likely to say equity
and inclusion and sustainability
are important to their academic
experience, but the SDG-concerned
candidates from these places are
typically more likely to rule out a
school on these dimensions.

• Female prospective students tend

to be more socially conscious than
their male counterparts when
citing the importance of equity
and inclusion, sustainability, and
well-being; however, there is no
significant difference between the
In order to keep up with the latest intelligence and trends about the SDG-concerned men and women who
candidate pipeline, we added new questions related to the pressing say they will rule out a school if they
demands—and evolving roles of business schools—in advancing do not prioritize these topics.
sustainable development. Using the U.N. Sustainable Development
Goals (SDGs) as a framework, we grouped targets into three • U.S. underrepresented candidates
themes applicable to the curriculum and operations of a college were more likely than non-
or university context.2 Leveraging the SDGs to track candidate underrepresented U.S. prospective
interest in equity and inclusion, sustainability, and well-being students to say equity and inclusion
mirrors similar industry decisions, such as AACSB International’s are very important to their academic
2020 accreditation standards requiring schools to make the world experience, but there were no
better with the help of their SDG-based Societal Impact Canvas.3 significant differences in the share
Moreover, they provide a neutral and authoritative basis for of those candidates who ruled out a
describing and assessing candidates’ interest and expected action school that did not prioritize equity
around sustainable development. and inclusion.

These new data points build on GMAC’s previous knowledge • Though equity and inclusion,
about candidates’ growing desire to create social impact through sustainability, and health and
business—and business school. In this year’s survey, we asked not well-being were all defined along
just how important each topic is to prospective students’ academic U.N. Sustainable Development Goals,
experience, but whether or not they would rule out a GME program there is likely regional variation in
that does not prioritize equity and inclusion, sustainability, or the way these topics are perceived
well-being. The results indicate that attention to sustainable among respondents from different
development in classrooms and on campuses is not just a social parts of the world.
imperative—it is a powerful differentiator in an increasingly
competitive market for talent.

2 “The 17 Goals.” United Nations Department of Economic and Social Affairs. https://sdgs.un.org/goals.
3 Steidle, Samantha and Dale A. Henderson. “Operationalizing Societal Impact.” AACSB, January 23, 2023. https://www.aacsb.edu/insights/articles/2023/01/operationalizing-societal-impact.

14 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

 Applying U.N. SDGs to a business school context

Equity & inclusion Sustainability Health & well-being

• Gender equality • Sustainable cities • No poverty
• Reduced inequalities and communities • Zero hunger
Quality education • Affordable and clean energy • Clean water and sanitation
• Promote inclusive and • Climate action • Decent work and
sustainable industrialization • Sustainable use of water economic growth
and land resources

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 15

 and incorporates equity and inclusion—defined by the
More than two-thirds of candidates SDGs of gender equality, reduced inequalities, quality
education, and promoting inclusive and sustainable
say equity and inclusion are industrialization—in the academic experience of their
students. Sixty-nine percent of respondents agreed equity
important or very important to and inclusion are important or very important.

their academic experience—and Regionally, candidates in Africa and Asia are more likely
to cite its importance, while those in Western Europe and
more than half of them say they Canada were the least likely (Figure 1). But the survey
did not just ask about the importance of these sustainable
won’t consider a school that lacks development goals to candidates. In order to further
illuminate a respondent’s view on an issue like equity
these efforts. and inclusion, respondents who said the topic was important
or very important were also asked whether they would
still consider attending a school that does not prioritize
the topic. This question revealed that more than half of
these candidates—57 percent—said they would not
consider attending a school that does not prioritize
supporting equity and inclusion. Candidates from
The 2023 GMAC Prospective Students Survey added new Canada, Europe, Latin America, and the Middle East
questions to gauge candidate interest and expectations who view equity and inclusion as important or very
around sustainable development. The survey first asked important are more likely than those candidates from
how important it is to attend a school that actively supports other regions to say it is a dealbreaker.

Figure 1: Candidates from Africa and Asia are most likely to say equity and
inclusion are important to their academic experience.
Equity-concerned candidates from Canada, Latin America, and Eastern Europe are the most likely
to indicate they will not consider a school that does not prioritize equity and inclusion.

Importance of Equity & Inclusion to Candidates by Region, 2023

16 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

If respondents indicated that equity and inclusion the United States agreed equity and inclusion are very
are important to their academic experience, it did not important to their academic experience compared to
necessarily mean they considered a program’s lack of 33 percent of non-underrepresented U.S. candidates.
prioritization a dealbreaker. For example, 87 percent Meanwhile, respondents from the Global South might
of African candidates identified equity and inclusion resonate more with the SDGs that were listed as examples
efforts as important or very important to their academic of equity and inclusion, such as ending hunger and
experience, but just under half of them said they would poverty.5 This might explain the high level of importance
not consider a school that did not prioritize it. This to candidates from Africa and Asia.
perhaps is indicative of the degree of expectation among
candidates. Those who say equity and inclusion are Consistent with previous year’s GMAC Prospective Student
important to their academic experience but would still Survey findings, female prospective students tend to be
consider programs that do not prioritize it might find it more socially conscious than their male counterparts.6 For
to be “nice to have”—a potential differentiator among example, 81 percent of women said equity and inclusion
programs they are considering. are important or very important to their academic
experience compared to 61 percent of men. However, there
Moreover, equity and inclusion does not necessarily mean is not a gender difference in the share of these candidates
the same thing to respondents from different parts of the who indicated they would not consider a school due to its
world. In the United States, for example, diversity, equity, prioritization of equity and inclusion. This pattern repeats
and inclusion (DEI) efforts have been widely politicized in the importance of sustainability and well-being,
and dismantled in some public institutions. 4 In this explored more below.
context, 44 percent of underrepresented populations in

4 Wood, Sarah. “DEI Bans at Colleges: What Students Should Know.” U.S. News & World Report, August 18, 2023. https://www.usnews.com/education/best-colleges/articles/dei-bans-at-
colleges-what-students-should-know.
5 Rising, David. “Everyone’s Talking About the Global South. But What Is It?” AP News, September 7, 2023. https://apnews.com/article/what-is-global-south-19fa68cf8c60061e88d69f6f227
0d98b.
6 Candidates who self-identified as non-binary were also surveyed, but results are not discussed in this report due to a limited sample size.

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 17

 More than two-thirds of candidates In addition to asking new questions about equity and
inclusion, the 2023 GMAC Prospective Students Survey
say sustainability is important to their asked about sustainability—defined by the SDGs of
sustainable cities and communities, affordable and clean
academic experience—and a third energy, climate action, and sustainable use of water and
land resources. Again, the survey asked respondents how
of them say a school not prioritizing important it was to attend a school that actively supports
and incorporates sustainability in the academic experience
sustainability is a dealbreaker. of their students, which 68 percent of global respondents
agreed was important or very important. More than
one-third of these sustainability-concerned candidates—
36 percent—indicated they would not consider a school
that does not prioritize supporting sustainability. Like
with equity and inclusion, candidates in Africa and Asia
were more likely to cite the importance of sustainability
compared to respondents from other regions (Figure 2).

Figure 2: Candidates from Africa and Asia are most likely to say
sustainability is important to their academic experience.
Sustainability-concerned candidates from Eastern Europe and Canada are the most likely to indicate
they will not consider a school that does not prioritize sustainability.

Importance of Sustainability to Candidates by Region, 2023

18 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

Again, the importance of sustainability to candidates Women are more likely than men to say sustainability is
did not necessarily mean they would rule out schools and very important to their academic experience, 35 percent
programs that do not prioritize it. Like with equity and to 27 percent. Millennials are also slightly more likely than
inclusion, candidates in Africa and Asia were more likely Gen Z candidates to say sustainability is important
to say sustainability is important but about as likely as or very important to their academic experience, 72 percent
candidates from other regions to say it is a dealbreaker. to 66 percent. However, these gender and generational
Candidates from some regions might have a greater differences do not translate to the share of candidates
baseline level of operational expectations, whereas who find sustainability to be a dealbreaker in their GME
others may be seeking sustainability in the classroom program consideration.
as a differentiator in their many GME options.

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 19

 Three-quarters of candidates say Finally, the latest GMAC Prospective Students Survey asked
new questions about well-being, defined by the SDGs of
well-being efforts—focused on no poverty, zero hunger, clean water and sanitation, and
decent work and economic growth. Seventy-six percent
things like eliminating poverty of prospective students globally indicated well-being is
important or very important to their academic experience,
and hunger—are important to and 41 percent of those candidates say they will not
consider a school that does not prioritize well-being.
their academic experience.
Candidates from Africa, Asia, and the Middle East were
the most likely to say health and well-being are important
or very important to their academic experience (Figure 3).
Ninety percent or more of candidates from Nigeria, Ghana,
Kenya, and the Philippines agreed with their importance.
Half or more well-being-concerned candidates from
Vietnam, Mexico, Singapore, and Pakistan said they
would not consider a school that does not prioritize
health and well-being.

Figure 3: Candidates from Africa, the Middle East, and Asia are most likely to
say health and well-being are important to their academic experience.
Candidates from Central and South Asia are the most likely to indicate they will not consider a school
that does not prioritize health and well-being.

Importance of Health & Well-Being to Candidates by Region, 2023

20 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

More women (42 percent) said health and well-being are
very important to their academic experience compared
to men (33 percent), but there was not a significant
gender difference in the share of candidates who would
not consider a school that does not prioritize health and
well-being. There were also no differences by generation,
first-generation status, or U.S. racial/ethnic identity.

At a country level, there are key markets driving broader

regional trends across each measure of sustainable
development. For example, respondents from the
Philippines, Indonesia, and Vietnam are propelling the
importance of equity and inclusion, sustainability, and
health and well-being in East & Southeast Asia (Figure
4). Meanwhile, there is more variation among countries
within Western Europe.

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 21

 Figure 4: When combining important and very important responses,
candidates from Nigeria, the Philippines, and Mexico are most likely to say
equity and inclusion, sustainability, and health and well-being are important
or very important to their academic experience.
Candidates from different countries in Western Europe vary the most in how they perceive the
importance of these social impact dimensions to their academic experience.

Importance of Sustainable Development Measures by Country, 2023

Equity & Inclusion Sustainability Health & Well-Being

22 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

What's new in 2024 | Conclusion

Across these social impact dimensions and the SDGs that

define them, candidates are expecting equity, sustainability,
and well-being practices in their academic experience and
the operations of their preferred business school. There
is regional variation in what exactly candidates might
expect, likely due in part to regional variation in how
sustainable development and social impact are perceived.
Demographically, women, millennials, or underrepresented
U.S. candidates communicated greater importance of equity,
sustainability, and well-being. Business schools can leverage
these variations to talk to candidates in more sophisticated
ways, knowing that their efforts can result in differentiation
among candidates concerned with social impact—in addition
to advancing the good of these topics in and of themselves.

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 23

 Business Program and
recruitment takeaways

& STEM
• In just the past year, there has been
double-digit, statistically significant
growth in the share of candidates
from East and Southeast Asia, Latin
America, the Middle East, and the
United States who say AI is essential
to their GME curricula.

• Gender and generational gaps have

emerged in the share of candidates
interested in AI, with more men and
millennials seeking it in their GME
curricula compared to women and
Gen Z candidates.

• More than half of candidates in India

and Greater China now prefer STEM-
certified GME programs.

New developments in technology have long disrupted—then assisted—

how organizations function in their day-to-day operations and
strategic visions. For example, business schools have recent experience
responding to candidate, enrolled student, and employer demands for
greater data analytics capacity amid the rise in big data, not to mention
their continued expertise preparing scientific and technical experts to
manage people and products within their disciplines.

Artificial intelligence is among the latest technological innovations

that are rocking businesses and business schools alike. With generative
AI dominating headlines, it is no wonder candidates are demanding
integration of the topic alongside more traditional business skills like
problem solving and communication.

Regardless of the latest innovations, industry and prospective students

will continue to demand skills at the intersection of business and STEM.
Graduate business schools thus continue to adapt, especially as demand
for STEM-certified GME programs—particularly in the United States—
grows among key markets in the candidate pipeline.

24 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

 Since 2022, there has been double-digit, statistically
Candidate demand for AI grew 38% significant growth in the share of candidates from East and
Southeast Asia, Latin America, the Middle East, and the
year-over-year, with two-fifths now United States who say AI is essential to their GME curricula.
There was also statistically significant growth in Greater
saying it is essential in their curricula. China, from 19 percent of these candidates interested in AI
in 2022 to 38 percent in 2023.

The GMAC Prospective Students Survey added artificial Globally, millennials are now slightly more interested
intelligence as a curricular “must-have” option in a in having AI be part of their GME curricula than Gen Z
question asking candidates to build their ideal GME candidates. Millennial interest grew from 30 percent
experience for the first time in 2022. In just the past year, in 2022 to 44 percent in 2023, while Gen Z interest grew
the number of candidates who say AI is essential to their from 28 percent to 38 percent. Millennials have typically
GME curricula surged from 29% in 2022 to 40% in 2023—the demonstrated greater interest in the technology sector
most year-over-year growth of any curricular option and than Gen Z candidates, which may explain their greater
evidence of the growing demand to learn about the role interest in how the topic functions in a business context.
of AI in a business context.
In addition to the generation gap, a gender gap is beginning
While interest in AI has grown across most regions year- to emerge in the share of candidates who expect AI in their
over-year, it is now most pronounced among candidates GME curricula. More men (42 percent) than women (37
from Asia, the Middle East, and Latin America (Figure 5). percent) now view AI as essential to their GME classrooms.

Figure 5: The share of candidates who say AI is essential to their GME

curricula is highest in the Middle East, Latin America, and Asia.
Despite large growth in AI interest among U.S. prospective students in the past year, they comparatively
have the lowest interest in integrating the topic into GME compared to other regions.

Share of Candidates Who Say AI is Essential to Their GME Curricula by Region,

2022 & 2023

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 25

 Women have historically been underrepresented in It is worth noting these differences are likely not the result
both business and STEM fields, evidenced in part by their of women’s underlying lack of interest in business or STEM.
undergraduate major backgrounds (Figure 6).7 Women Rather, they are manifested by broader social and economic
make up a smaller share of candidates in business school, structures that limit women’s participation early in their
but they also make up a smaller share of the types of educational journeys, resulting in far reaching effects on
undergraduate majors that demonstrate the most interest both individual careers and macro trends in gendered labor
in AI in their GME curricula, including business/economics, force participation.
engineering/computer science, and science/mathematics.

Figure 6: A greater share of men than women are interested in AI in graduate

business school.
Men also make up a greater share of the undergraduate majors that are interested in AI, such as STEM
as well as business degrees.
AI Preference by Major by Gender

UG Major Group Gender AI Preferences

7 Khera, Purva, Sumiko Ogawa, Ratna Sahay, and Mahima Vasishth. “The Digital Gender Gap.” International Monetary Fund, December 2022. imf.org/en/Publications/fandd/
issues/2022/12/the-digital-gender-gap-khera-ogawa-sahay-vasishth.

26 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

Global interest in STEM-certified
GME programs grew 39% in five
years—and to new heights in Asia.

In the United States, preliminary data from the U.S. Like with AI, a gender gap has emerged in interest in STEM-
Department of Education shows that the number of certified programs. While preference for STEM-certified
programs registered as STEM-certified in graduate programs grew among both men and women, it increased
management education nearly doubled from 2017 to 2021, from 27 percent in 2019 to 35 percent in 2023 among women
from 222 to 438.8 This type of designation is especially and from 28 percent to 42 percent among men. As discussed
helpful for non-U.S. citizens who may be seeking the above, this gender disparity is not isolated to graduate
benefits associated with STEM-related optional training management education but is something business schools
opportunities.9 The demand for STEM-designated GME should consider as they aim for gender parity in their
programs has grown across regions over the past five degree offerings.
years (Figure 7). Interest is highest among candidates from
Central & South Asia as well as East and Southeast Asia.
The growth in interest has been especially pronounced in
key markets within this region. Specifically, preference for
STEM-certified programs has grown among candidates in
India from 43 percent in 2019 to 57 percent in 2023 and in
Greater China from 35 percent to 51 percent.

Figure 7 : Interest in STEM-certified GME programs has been the highest in

Central and South Asia over the past five years.
Since 2019, interest in STEM-certified GME programs has grown in every region.

Share of Prospective Students Who Prefer STEM-Certified GME Programs by Region,

2019-2023

8 “IPEDS Access Databases.” National Center for Education Statistics. https://nces.ed.gov/ipeds/use-the-data/download-access-database.

9 “STEM OPT Extension Overview.” Department of Homeland Security. https://studyinthestates.dhs.gov/stem-opt-hub/additional-resources/stem-opt-extension-overview.

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 27

 Business & STEM | Conclusion
Amid the disruption caused by new advances in artificial
intelligence, GME programs are reconsidering the
technological capabilities that the next generation of
business leaders will need to be successful in the future
workplace. Candidate expectations for AI and STEM in GME
are growing to match the skills they believe they will
need to get ahead in their careers. Business schools can
be especially adaptive to the AI demands of candidates
from markets in the Middle East, Latin America, and Asia
and responsive to the growth in STEM preferences among
candidates from India and China.

28 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

Demand Program and
recruitment takeaways

for flexibility
• Over the past five years, interest in
hybrid learning is growing around
the globe at the expense of in-person
learning; interest in online programs
has been largely flat.

• Most hybrid candidates want to

spend half or more of their class time
in-person and the rest online.

• When it comes to barriers to GME,

online candidates tend to be more
In GMAC’s 2023 Application Trends Survey report, flexible GME concerned about their financial and
programs offered in the evenings or hybrid/online were the most time investments, while in-person
likely to report growth in applications, especially when compared candidates are more concerned about
to their more traditional in-person and full-time counterparts.10 getting into their preferred program.
This is part of a growing slate of evidence that candidates’ appetite
for flexibility is increasing. Interest in hybrid learning has grown • Nearly half of candidates who want
across regions and demographic types as hybrid workplaces have to get their degrees online still do not
also increasingly become available and expected by prospective believe it will be as valuable as an
employees. While in-person learning remains the most preferred in-person experience.
delivery format among most candidates, its dominance among
candidates is diminishing.

10 Walker, Andrew. “Application Trends Survey: 2023 Summary Report.” Graduate Management Admission Council, October 2023. https://www.gmac.com/market-intelligence-and-
research/market-research/application-trends-survey.

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 29

 As preference for hybrid learning
increases globally, most of these
candidates want half the time or
more spent in the classroom.

Global preference for hybrid program delivery has

increased from 12 percent in 2019 to 17 percent in 2023.
This growth is seen across regions, with the exception
of Central and South Asia, while preference for hybrid
study is highest in Africa and North America (Figure 8).
To further understand the nuances of candidate interest
in hybrid delivery, we examined country-level data with
students’ intentions to apply to programs internationally
or in-country.

Figure 8: Since 2019, interest in hybrid program delivery has grown in every
region except Central and South Asia, with the greatest interest now in
Africa and North America.
Five-year growth has been statistically significant in East & Southeast Asia, the United States,
and Western Europe.

Preference for Hybrid Program Delivery by Region, 2019 & 2023

30 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

Among candidates who prefer to study in hybrid formats, However, the presumed connection between domestic
there was geographical variation in whether their domestic study and a greater interest in hybrid formats did not
or international study plans affected their preference to extend to other key markets. For example, there are no
have at least some of their GME degree delivered online. significant differences in preferred program format among
Intuitively, for example, more candidates in Greater China students who want to study domestically or internationally
wanted to study in hybrid programs if they were planning from the U.S. or India. Just under a quarter of U.S.
to apply to domestic programs rather than international candidates and less than a tenth of Indian candidates want
programs. Specifically, 30% of Chinese candidates who to study in hybrid formats regardless of their domestic or
want to study domestically prefer hybrid classrooms international study plans.
compared to 15% of Chinese students who want to study
internationally. This may be in part due to a regulation
change in China that no longer recognizes foreign degrees
completed online.11

11 D’Agostino, Susan. “China Bans Overseas Online Colleges.” Inside Higher Ed, February 8. 2023. https://www.insidehighered.com/news/2023/02/09/china-bans-students-enrolling-
foreign-online-colleges.

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 31

 In Nigeria, slightly more candidates planning to study We also asked students who prefer hybrid classrooms their
internationally preferred hybrid classrooms compared ideal breakdown of in-person and online components. Most
to those planning to study within the country. Twenty- hybrid candidates want to spend half or more of their class
seven percent of Nigerian candidates who want to study time in-person and the rest online. Among different degree
domestically prefer hybrid classrooms compared to 29 types, hybrid professional MBA and business master’s
percent of Nigerian prospective students who want to study candidates are more open to online delivery compared to
internationally. This is in part due to the greater demand hybrid full-time MBA candidates (Figure 9).
for online learning at home—half of domestic candidates
in Nigeria want to study fully online, indicating a strong Consistent with previous years’ findings, women are more
demand for at least some online learning in the country. likely to prefer hybrid programs compared to men. In 2023,
20 percent of female prospective students preferred hybrid
program delivery compared to 15 percent of men.

Figure 9: Hybrid, full-time MBA candidates want to spend more time in the
classroom, on average, than hybrid candidates interested in professional MBA or
business master’s degrees.
Three-quarters or more of hybrid candidates across degree types want to spend half or more of their
time in-person.
Preferred Share of Time Hybrid Candidates Want to Spend Online by

Degree Type, 2023

32 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

Preference for in-person learning In contrast to growing global interest in hybrid learning,
preference for online delivery has remained flat. While
is declining but is still the most preference for in-person delivery is declining, it remains
the most preferred delivery type. Over the past five years,
preferred delivery format, while interest in online program delivery increased from four
percent in 2019 to just six percent in 2023. Preference for
interest in primarily online delivery in-person delivery dropped from 81 percent in 2019 to 73
percent in 2023. Like with hybrid program delivery, these
remains stable. preferences vary geographically.

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 33

 Consistent with trends in hybrid program delivery,
preference for online learning is highest in Africa and
North America and lowest in Central and South Asia
(Figure 10). Unlike with hybrid delivery, however, there
has not been growth in online learning interest among U.S.
candidates in the past five years. Preference for in-person
learning has remained highest in Central and South Asia,
Latin America, and Western Europe (Figure 11).

Figure 10: Interest in online learning is highest among candidates in Africa,

Canada, and the United States.
Growth in interest over the past five years has been significant in East and Southeast Asia, Canada,
Eastern Europe, and the Middle East.

Preference for Online Program Delivery by Region, 2019 & 2023

34 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

Figure 11: More than three-quarters of prospective students still prefer
primarily in-person learning in Central and South Asia, Latin America, and
Western Europe.
Preference for in-person learning has declined to the lowest levels in Africa, Canada, and the United States

Preference for In-Person Program Delivery by Region, 2019 & 2023

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 35

 There are also significant differences between the kinds of As explored in last year’s GMAC Prospective Students
candidates who prefer to study online and those who want Survey report, online candidates tend to have much
to learn in the classroom. For example, data analysis is the more favorable views of online learning than in-person
most desired skill among online candidates while problem candidates. However, online candidates still have their
solving is the top skill among in-person candidates. Half of doubts about online learning. In 2019, fewer than half of
in-person candidates say they want to improve their ability online candidates—47 percent—agreed or strongly agreed
to work with others compared to 38 percent of online that a graduate business education acquired through
candidates—perhaps reflective of the fact it may be easier on-campus experiences offers same value as an online
to work with others in an in-person format. degree. In 2023, that figure grew to 56 percent, which still
indicates nearly half of candidates who want to get their
When it comes to barriers to GME, online candidates tend degrees online do not believe it will be as valuable as an
to be more concerned about their financial and time in-person experience.
investments (Figure 12). While cost continues to be the
most significant barrier to candidates across regions and
demographic types, more online candidates say cost might
prevent them from pursuing GME compared to in-person
candidates. Online candidates also have outsized concern
related to their current debt level and demands on their
time compared to in-person candidates. Selectivity is more
likely to prevent in-person candidates from pursuing GME,
with more in-person candidates saying not getting into
their preferred school may prevent them from pursuing
GME compared to online candidates.

Figure 12: Online candidates tend to be more concerned about time and
financial investment in GME while in-person candidates are more concerned
about selectivity.
Online candidates are more concerned about cost and demands on their time and in-person
candidates are more concerned with not getting into their preferred school.

Barriers That May Prevent Candidates From Pursuing GME by Preferred Program Delivery, 2023

36 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

 Demand for flexibility | Conclusion
In sum, more candidates are demanding flexibility in how they
learn, especially those in Africa and North America. While in-person
programs remain the preferred method, candidate interest has
declined over the past few years. As more candidates seek flexible
options, their underlying goals and barriers are not necessarily the
same as what they have been before.

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 37

 Candidate Program and
recruitment takeaways

mobility
• Candidates from India now have
greater interest in studying in-
country and within the region, with
about one-third citing that they like
being closer to home.

• Interest in studying in the United

States among candidates from
Greater China has hit a five-year
With burgeoning middle classes, more corporate multinationals, low, with a plurality of Chinese
and growing GME presence in key markets like India, China, and candidates wanting to study in
across Africa and Latin America, candidates from around the world Western Europe in part due to its
have more GME options and economic opportunity than ever before. association with affordability.
Candidates are motivated to choose their programs based on the
reputation of the educational system in a particular place along • Most candidates from Africa prefer
with how they will be prepared for their future careers—but factors to study in North America, with
like affordability, safety, and proximity to home are increasingly candidates from Nigeria and Ghana
important differentiators in why a candidate might choose one saying they prefer studying in the
study destination over another. Understanding where candidates United States and Canada in large
want to study and why, especially in the context of complex part because of the perceived
geopolitics and interconnected global economic outcomes, can help availability of financial aid.
sharpen business schools’ recruitment strategies and curricular
developments amid perpetual uncertainty.

38 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

More candidates than before prefer In 2023, candidates from Central and South Asia made
up the largest share of prospective students interested in
to study within their country of pursuing GME, followed by the United States and Western
Europe (Figure 13). The United States is the top destination
citizenship instead of internationally, for candidates globally, with U.S. candidates making up
the largest portion applying to U.S. programs. Likewise,
especially in India and Nigeria. Western Europe is the top destination for Western
European candidates.

Figure 13: Candidates from Central and South Asia make up the largest share
of the GME pipeline while the United States is the top study destination for a
plurality of candidates.
The United States is the most preferred study destination for candidates in the United States, Central and
South Asia, Latin America, the Middle East, and Africa.

Composition of the Candidate Pipeline by Region of Citizenship to Preferred Study Destination,

2023

Region of Citizenship* Preferred Region of Study

*The percentage of candidates by region of citizenship is weighted based on an estimated percentage of candidates
who may be interested in GME rather than the raw share of respondents to the Prospective Students Survey by region.

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 39

 Since 2019, the share of candidates with plans to apply
outside their countries of citizenship dropped from
72 percent to 67 percent—a relatively small but still
statistically significant difference (Figure 14). Meanwhile,
plans to apply locally, regionally, or nationally within a
candidate’s country of residence have increased over the
past five years. In particular, in-country application plans
have grown in Asia, Latin America, and Eastern Europe.

Figure 14: The share of candidates with plans to apply to GME programs
outside their country of residence has decreased five points since 2019.
Plans to apply to programs nationally within a candidate’s country of residence has grown eight points
year-over-year.

Application Plans by Geographic Proximity, 2019-2023

40 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

Domestic application plans within India also grew
significantly from 41% in 2022 to 53% in 2023. This interest
in studying closer to home comes as preference to study
in Canada has shrunk (Figure 15). Given the survey was
fielded throughout calendar year 2023, it is likely the
challenges in diplomatic relations between India and
Canada contributed to the most recent dip, though the year-
over-year change is part of a longer decline since 2019.12

Figure 15: Indian candidates are more interested in studying closer to home as
their interest in Canada wanes.
Compared to 2019, there has been an eight percentage point drop in candidate preference to study in Canada
and an eight point increase in Indian candidates’ preference to study within Central and South Asia.*

Preferred Study Destinations for Citizens of India, 2019-2023

*In late 2021, the GMAC Prospective Students Survey sample collection methodology was adapted, which increased
the number of Central and South Asian respondents who may be more interested in studying within the region.

12 Northman, Jackie. “Canada Grapples With the Effects of Deteriorating Relations With India and China.” NPR, December 27, 2023. https://www.npr.org/2023/12/27/1220320664/canada-
india-relations-sikh-assassination-china.

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 41

 Why Indian candidates prefer their top destinations

United States Western Europe Central & South Asia

• Reputation of educational • Reputation of educational • Affordability (55%)
system (77%) system (63%) • Reputation of educational
• Better preparation for • Better preparation for system (44%)
career (56%) career (38%) • Closer to home (37%)
• Diversity of student • Affordability (31%)
body (35%)

Among Indian candidates who want to study in Central their families on the other side of the globe. That said,
and South Asia, most cited affordability as their top reason. most GME candidates from India still prefer to study in the
However, the share of candidates who want to stay in the United States and Western Europe. This is largely because
region because it is closer to home has increased 10 points of their perceived reputations of the educational systems
since last year (though the difference is still within the and better preparation for their careers. However, some
margin of error).13 As educational and economic opportunities Indian candidates were interested in the diversity of the
increase on the subcontinent, it is no surprise that Indian student body in the United States while others cited the
candidates would take advantage without needing to leave affordability of Western Europe.

13 “Margin of error is a statistical term that represents the range of uncertainty or variability around an estimate or measurement. It quantifies the degree of confidence we can have in the
accuracy of the estimate.” “What Is Margin of Error?” Coursera, November 29, 2023. https://www.coursera.org/articles/what-is-margin-of-error.

42 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

Candidates from Greater China have demonstrated a
relatively stable interest in studying within the East and
Southeast Asia region while their interest in studying in
the United States has dropped nine points since 2019
(Figure 16). Candidates from Greater China interested in
studying within Eastern and Southeast Asia cite the usual
reasons like reputation of the educational system and
better preparation for career. However, a third also cited
safety as a top reason for studying within the region.

Candidates from East and Southeast Asia are more likely

than candidates from other regions to select safety as a
top consideration when choosing among different GME
programs, and many candidates in China have come to
associate the United States with a lack of safety—especially
as geopolitical tensions between the two countries
have intensified.14 The declining interest in U.S. study is
consistent with broader international student trends seen
in Open Doors reports, which has identified declining
numbers of Chinese candidates studying in the United
States since 2019.15 And like in India, the opportunity for
in-country educational and economic opportunities—
many at a fraction of the cost—continue to grow.

Figure 16: Chinese candidates’ interest in United States hit a five-year low.
Preference for study in Western Europe has been largely stable while there have been some fluctuations
in candidate interest in Canada and to stay within the region.

Preferred Study Destinations for Citizens of Greater China, 2019-2023

*Chinese candidates’ interest in Eastern Europe, Latin America, and Central and South Asia has been 1% or less over the past five years.

14 Wan, Xiaofeng. “Safety Concerns Could Thwart Chinese Students’ Return to US.” University World News, November 13, 2023. https://www.universityworldnews.com/post.
php?story=20231113162027835.
15 “Leading Places of Origin.” Open Doors. https://opendoorsdata.org/data/international-students/leading-places-of-origin/.

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 43

 Why Chinese candidates prefer their top destinations

Western Europe United States East & Southeast Asia

• Affordability (44%) • Better preparation for career • Reputation of educational
• Better preparation for career (64%) system (45%)
(44%) • Reputation of educational • Better preparation for career
• Reputation of educational system (55%) (43%)
system (41%) • Attractiveness of location • Safety (33%)
(28%)

While now roughly as many candidates from Greater

China are interested in studying in East and Southeast
Asia as the United States, Chinese candidates still associate
the United States with better preparation for their careers,
a reputable educational system, and an attractive location.
Meanwhile, Western Europe has largely maintained
stable interest from candidates in Greater China with a
plurality associating Western European programs with
affordability—a key differentiator from the U.S. market.
Western Europe also tends to offer programs at shorter
durations and have friendlier visa policies compared to the
U.S., especially with regard to working in the region after
their education is complete.16

16 Poulsen, Sophie. “Getting a Master’s in the US vs. Europe.” Master Grad Schools, February 1, 2023. https://mastergradschools.com/master-study-destinations/masters-in-
the-us-vs-europe.

44 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

 GMAC’s Application Trends Survey has revealed a trend of
Candidates from Africa want to GME programs increasingly recruiting from candidates in
Africa, especially large and growing markets like Nigeria
create and lead companies post- and Ghana. Some of this growth is demographic—there are
more graduate school-aged people in the population than
GME but are concerned by the cost of there were before.17 However, demographics alone do not
determine study destination preferences, career goals, and
business school and the economy. financing plans as explored below.

17 Hicham. “Why Africa's Youth Hold the Key to Its Development Potential.”

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 45

 Candidates from Africa applying to GME tend to be 40
percent women and have an average of 3.8 years of work
experience—both roughly similar to the global averages.
Approximately two-thirds are considering both MBAs and
business master’s degrees, and a quarter are interested in
MBAs only. Most African candidates prefer studying in the
United States or Canada, with some declining preference
for Western European study and renewed interest in
studying within the continent (Figure 17).

Figure 17: Most African candidates prefer to study in North America

Interest in studying within Africa was declining but returned to roughly 2019 levels in 2023.

Preferred Study Destinations for Citizens from Africa

*African candidates’ interest in Central and South Asia, Eastern Europe, Latin America, and the Middle
East has been 1% or less over the past five years.

46 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

In Nigeria, interest in Canada has been declining over the
past five years—from 36 percent in 2019 to 28 percent in
2023—but is still two points above the regional average.
This decline in interest is complemented by an increase in
interest in studying within Africa, from 4 percent in 2020
to 14 percent in 2023. In Ghana, preference for studying
within Africa is much lower than the regional average,
while interest in studying in the United States and Canada
is higher. Candidates from both of these countries say
they prefer studying in the U.S. and Canada in large part
because of the perceived availability of financial aid.

Half of African candidates say they want to pursue GME

to support their families—the most of any region, and 10
points greater than the global average. After GME, African
candidates are especially interested in international travel
but not necessarily living abroad (Figure 18). Nearly half
of African candidates say they want to work for a company
where they can travel internationally after they graduate.
But when asked about their motivations, 36 percent of
candidates from Africa indicated wanting to pursue GME to
increase their geographic mobility—tied with U.S. citizens
as the least likely to cite this reason.

Figure 18: African candidates are especially interested in pursuing GME to

become CEOs and entrepreneurs with travel opportunities.
Prospective students from Africa were among the least likely to cite getting a raise or salary increase as
a post-GME career goal compared to candidates from other regions.

Candidates' Post-GME Career Goals by Region

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 47

 The prospect of creating and running their own business When it comes to financing GME, 84 percent of candidates
is especially attractive to candidates from Africa, with from Africa are planning to leverage financial aid
46 percent saying they want to be an entrepreneur compared to 68 percent globally (Figure 19). Candidates
and 42 percent saying they want to become CEO of a from Africa are also more likely to use personal or spousal
company—the largest share compared to other regions. earnings. There appears to be less interest or ability to
In GMAC’s qualitative study of Gen Z, the candidates finance GME with loans, and African candidates are also
from Nigeria were especially interested in the prospect less likely to finance GME with support from their parents.
of entrepreneurship and how a GME degree might help
their future financial freedom and ability to grow the
international reach of their business.18

While candidates from Africa were among the least likely

to cite a raise or salary increase as a reason for pursuing
GME, they still have outsized concerns about the cost of
GME compared to the global average. Nearly half of African
candidates cite economic uncertainty as a moderate or
severe barrier to GME, and 57 percent of candidates from
Africa say cost may prevent them from pursuing GME.

Figure 19: Compared to global candidates, prospective students from Africa

are more likely to aim to finance their studies through financial aid and
household earnings.
Though African candidates’ plans to finance GME through loans and household earnings are within the
margin of error—meaning they may not meaningfully differ from the global population—the greater
demand for financial aid from African candidates is statistically significant.

Source of GME Financing Among Candidates from Africa, 2023

18 Walker, Andrew. “Gen Z in the GME Pipeline: Explain Why It’s Worth It.” Graduate Management Education Council, June 2023. https://www.gmac.com/market-intelligence-
and-research/research-library/measuring-program-roi/2023-gen-z-in-the-gme-pipeline.

48 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

 Candidate mobility | Conclusion
In the midst of new geopolitical challenges and improving
economic opportunities around the globe, candidates have
even more factors to weigh when considering where to pursue
GME. Candidates are of course concerned with the quality of
the education system and how it will prepare them for their
future careers, but affordability, safety, and proximity to home
are increasingly considerations in key parts of the candidate
pipeline. As the number of candidates seeking GME degrees
from Africa continues to rise, business schools can better
understand their unique motivations and barriers to more
successfully recruit talent from continent.

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 49

 Program Program and
recruitment takeaways

preferences
• The two-year MBA is the most
preferred degree type among
candidates, though interest in the
one-year MBA is within the margin

& alternatives
of error. Regardless of program
duration, interest in the full-time
MBA has been stable over the past
five years.

• Among business master’s programs,

the Master of Finance continues
to attract the most interest, while
renewed interest in the Master of
Management bumped the Master
of Data Analytics from its number
two spot.

The supply of degree opportunities for prospective GME students • Candidate interest in professional
has never been more diverse. Increasingly specialized master’s certifications as alternatives to GME
programs and new evolutions in course flexibility means programs degrees has increased somewhat
are differentiating themselves in new ways to appeal to the over the past five years, especially
right students. Meanwhile, there has been a boom in non-degree among candidates interested in more
credentials that prospective students often consider instead of a GME flexible programs.
program, which are often offered by organizations outside of the
traditional college or university system.

The two-year MBA recaptured the top

preferred degree spot from the one-year
MBA, and the Master of Management
resurged in popularity.

In last year’s report, the one-year MBA was cited as the most
preferred program type. In 2023, the two-year full-time MBA
recaptured the top spot—though in both years the shift was within
the margin of error (Figure 20). Over the past five years, the one-year
MBA has consistently been more popular than the two-year among
candidates from East and Southeast Asia and Canada, while the
two-year MBA has been most popular in the U.S. market.

Perhaps the most important takeaway is the staying power of the

full-time MBA of any duration. Together 42 percent of candidates
prefer full-time MBAs—a figure that has been largely stable over the
past five years despite the disruptions of the COVID-19 pandemic and
the increasing demands for flexibility. Even preference for part-
time, flexible, online, and hybrid MBAs has been largely stable over
this time period.

50 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

Figure 20: The full-time two-year MBA recaptured the top spot as the most
preferred program type among candidates globally.
Like last year, the year-over-year shifts in program preferences are all within the margin of error.

Preferred Program Type, 2022 & 2023

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 51

 We also asked candidates which degrees they are eclipsed by a resurgence in consideration of the Master
considering, meaning they could select multiple of Management. This small dip in interest in data
options rather than choosing their top choice. Figure 21 analytics was also reflected in GMAC’s 2023 Application
focuses specifically on candidate interest in business Trends Survey, which found 50 percent of Master of
master’s degrees over the past decade. Since 2014, the Business Analytics programs experienced a decline
Master of Finance has been the top business master’s in applications. The increase in interest in the Master
degree considered by candidates. The Master of Data of Management was driven by significant increases
Analytics has largely plateaued in popularity since among candidates from Greater China, men in India,
its initial surge to the top-two spot among business and especially women from Western Europe.
master’s programs from 2014 to 2018, and in 2023 it was

Figure 21: The Master of Finance has consistently been the most considered
business master’s program among global candidates.
In the past year, the Master of Management jumped back to the second-most popular spot.

Consideration of Business Master's Programs, 2014-2023

Interest in the Master of Accounting has decreased the 2023. There was also a drop in interest among candidates
most among these business master’s programs, from 16 with no work experience, from 28 percent in 2014 to 14
percent of candidates considering the degree in 2014 to percent in 2023. U.S. candidates demonstrate outsized
8 percent in 2023. This drop in interest in the Master of interest in the Master of Accounting compared to other
Accounting is especially pronounced among women in regions due largely to the 150 credit hours required to sit
Greater China, where consideration for the degree dropped for the Certified Professional Accountant (CPA) exam in the
from 40 percent in 2014 to 26 percent in 2023. Similarly, country. In spite of this, demand for accounting bachelor’s,
consideration of the Master of Accounting among U.S. master’s, CPA credentials is on the decline in the United
women dropped from 22 percent in 2014 to 9 percent in States, too.19

19 Burke, Jacqueline A. and Ralph S. Polimeni. “The Accounting Profession Is in Crisis.” The CPA Journal, September/October 2023. https://www.cpajournal.com/2023/12/01/
the-accounting-profession-is-in-crisis/.

52 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

Candidate interest in professional To explore the non-GME options candidates think might
also help them achieve their goals, we asked which
certifications as alternatives to GME alternatives prospective students considered instead of
pursuing a graduate management education. Intuitively,
degrees has increased somewhat the top alternative to GME according to a plurality of
candidates has consistently been getting a new job
over the past five years, especially (Figure 22). But given the rise in opportunities for
professional certifications and micro-credentialing,
among candidates interested in we conducted additional analysis on candidate interest
in opportunities like these.
more flexible programs.

Figure 22: Candidates are most likely to consider a new job or a professional
certification as alternatives to pursuing GME degrees, with relatively stable
interest over time.
Micro-credentials or mini qualifications that demonstrate competency in a given subject were added to
the survey in 2022 but are still a relatively less popular alternative.

Alternatives to GME Considered by Candidates, 2019-2023

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 53

 Since 2019, prospective students have become somewhat We also examined how a candidate’s preferred post-GME
more attracted to building skills through professional industry might influence their consideration of
certifications, with one-third of candidates now certifications. Since 2019, there has been increasing
considering them as an alternative to GME—the largest interest in professional certifications among candidates
share over a five-year period. Older candidates—who interested in government, consulting, tech, and
are more likely to have families—were more likely to communications (Figure 23). However, these alternatives
consider professional certifications as alternatives to GME, are more attractive to candidates interested in professional
with 40 percent of millennials considering professional (e.g., part-time, online) MBA programs compared to
certifications as alternatives compared to 29 percent of those interested in full-time MBA programs or business
Gen Z prospective students. Regionally, candidates from master’s degrees.
East and Southeast Asia as well as the United States were
more likely than the global average to have considered
professional certifications as alternatives to GME.

Figure 23: Since 2019, the number of candidates considering professional

certifications as an alternative to GME has grown slightly regardless of
preferred post-GME industry.
Candidates interested in professional or financial services are most likely to be considering certifications
or micro-credentials as alternatives to degree programs.

Considered Professional Certifications as Alternatives to GME by Industry, 2019 & 2023

54 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

Program preferences & alternatives | Conclusion

Demand for professional certifications and micro-credentials has grown somewhat over the
past five years, but GME degree programs remain more than competitive to candidates looking to
upskill and bolster their careers. Consideration of these professional certification alternatives is
intuitively highest among candidates who are interested in more flexible GME programs, such as
millennials with families or prospective professional MBA prospects.

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 55

 Skills Program and
recruitment takeaways

& careers
• Consulting is the top post-GME
industry for both millennials and
Gen Z. For millennials, the second-
most popular sector is technology,
while finance is the second-most
popular industry among
Gen Z candidates.
Even as preferences for degree programs and flexible delivery
formats shift, candidates’ underlying desire to pursue graduate • Consistent with their curricular
management education to build transferable skills and prepare preferences, women expressed
for successful careers persists. The capabilities needed by future greater career interest in consumer
business leaders are ever-evolving, meaning graduate business products, media and communication,
schools must adapt to meet the latest demands of candidates and and non-profit sectors, while men
the industry. However, minimal shifts in many of the core skills are statistically more likely to
prospective students expect to learn in their GME experience seek careers in financial services,
indicates business schools are on the right track to satisfy these investment banking, and technology.
market expectations.
• Millennials are more interested
than Gen Z in learning about
entrepreneurship, perhaps indicative
of their greater work experience and
professional risk tolerance.

• Problem-solving and data analysis

Consulting is the top post-GME and interpretation have consistently
been the top skills candidates
industry choice among candidates, expect to learn in graduate
management education.
while tech is the second-most popular
sector among millennials and finance
is second-most popular among
Gen Z candidates.

Consistent with previous year findings, consulting is the most

preferred industry GME candidates want to work in after
graduation. This is true regardless of gender, generation, and
region (with the exception of Africa, where the most preferred
post-GME industry is financial services).

However, generational divides are solidifying with regard to

what takes the second-most popular industry spot. In line with
last year's Prospective Students Survey report, technology is the
second-most sought-after industry among millennials (Figure 24).
Meanwhile, financial services and investment banking are more
attractive to Gen Z candidates compared to technology.

56 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

Figure 24: Consulting is the top post-GME industry among both millennials
and Gen Z.
Millennials continue to demonstrate more interest in the technology sector compared to Gen Z candidates.

Industry Preferences Among Gen Z and Millennial Candidates, 2022 & 2023

Percentage of Prospective Students

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 57

 Though not isolated to GME graduates, there are several
gender differences in the planned careers among
prospective students. Women expressed greater interest in
consumer products, media and communication, and non-
profit sectors, while men are more likely to seek careers in
financial services, investment banking, and technology.
Petroleum and energy are especially popular industries
in Africa and the Middle East and technology is especially
popular in Central and South Asia.

Strategy and analytics are the

most desired curricular offerings
candidates want to learn in
graduate business school.

As candidates zoom in on their return on investment from

graduate management education, transferable skills are
essential to a business school’s value proposition. Globally,
59 percent of candidates said strategy is essential to their
GME curriculum, 53 percent said business analytics and
data science, and 49 percent said leadership and change
management. This is very much in line with skills
employers are seeking, according to GMAC’s 2023 Corporate
Recruiters Survey—indicating business schools are on the
right track to satisfy both candidate and industry needs.20

While strategy and analytics are the most desired GME

curricular topics among both men and women—which
has been the case over the past five years—there are
several significant differences between male and female
candidates in 2023. Consistent with their industry
preferences, women are more likely than men to want
to study marketing, brand/product management, and
social impact-related work (Figure 25). Women also have
a greater interest in leadership/change management and
international business capabilities. Men, meanwhile, view
finance, economics, and now AI as more important to their
GME curricula than women.

20 Walker, Andrew. “Corporate Recruiters Survey: 2023 Summary Report.” Graduate Management Admission Council, July 2023. https://www.gmac.com/market-intelligence-
and-research/market-research/corporate-recruiters-survey.

58 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

Figure 25: Most men and women think strategy and business analytics are
essential to learn in business school.
Men have an outsized interest in finance and economics while women are more interested in marketing and
social conscious business practices.

Curricular "Must-Haves" by Gender, 2023

Likely due in large part to their longer work history, There are few significant differences in preferred
millennials are more interested in building their industry curriculum design based on first-generation status or racial
management capabilities than Gen Z candidates, including and ethnic identity within the United States. However,
brand/product management, digital leadership, general first-generation students are more likely than non-first-
management, operations management, and technology generation students to say accounting and taxation
management. Nearly half of millennials are interested in are essential to their GME curricula, as first-generation
learning about entrepreneurship and innovation compared students are another group often seeking stability in
to just 39 percent of Gen Z. While this again may be due in their future careers. There is also more evidence of U.S.
part to millennials’ greater work experience, GMAC’s Gen underrepresented candidates’ interest in equity and
Z research shows that this generation of candidates has a inclusion in the classroom given that 33 percent say
greater interest in stable careers and futures, and therefore cultural competency and DEI are essential to
Gen Zers may be less interested in the risks of starting their their curricula compared to 20 percent of non-
own businesses.21 underrepresented candidates.

21 Walker. “Gen Z in the GME Pipeline.”

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 59

 When it comes to specific skills, most candidates
have consistently expected to learn problem-solving
and data analysis and interpretation in the classroom
(Figure 26). There has been some retraction in demand
across skill types, but overall, expectations among
candidates have not varied much over the past five years.
According to GMAC’s 2023 Corporate Recruiters Survey
report, data analysis and interpretation is among the
skills employers anticipate growing demand for in the
next five years, again indicating promising alignment
between pipeline and industry expectations.22

Figure 26: Problem-solving and data analysis and interpretation are the top
skills candidates expect to learn in graduate management education.
Expectation to learn written communication and listening skills has decreased somewhat over the past
five years.
Skill Expectations Among Candidates, 2019-2023
Percentage of Prospective Students

22 Walker. “Corporate Recruiters Survey: 2023 Summary Report.”

60 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

 Skills & career | Conclusion

Overall, there have not been many significant changes

in the past several years with regard to curricular and
career preferences. The increase in demand for AI in the
classroom is discussed above, and gender, generational,
and regional variations also persist. However, key topics
like strategy and analytics and skills like problem solving
continue to attract candidates to GME programs, especially
as they prepare for careers in popular industries like
consulting, finance, and technology.

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 61

62 Graduate Management Admission Council™ | Prospective Students Survey Report 2024
Conclusion
Last year’s Prospective Students Survey report offered insights into why candidates want a graduate
management education. The results of this year’s Prospective Students Survey indicate how candidates
want to pursue GME, with particular attention to how they expect graduate business school to help
them stand out and make a positive impact. High numbers of candidates say equity and inclusion,
sustainability, and health and well-being are important to their GME academic experiences. Moreover,
droves of candidates are willing to rule out schools that do not prioritize these issues, making them
important differentiators in an increasingly competitive market for talent.

Similarly, demand for AI is increasing quickly among candidates. As schools respond, they should be
aware of where demand is greatest and growing. Generative AI is just the latest technological innovation
that has disrupted businesses and business schools. GME programs have adapted to big data and mobile
phones and the internet, always leveraging their position at the intersection of industry and academia
to impart the right skills onto the business leaders of the future. Luckily, according to candidates and
employers alike, the most important business skills of today and tomorrow are still fundamental
capabilities like strategy, analytics, and problem-solving.

The future also appears to hold greater demands for flexibility, even as candidates continue to travel
across the globe to study. Online and in-person candidates continue to be motivated and deterred by
different factors when considering GME, though it is possible the clear distinction between in-person
and online delivery will blur as the supply of and demand for hybrid programs continue to grow. But as
these preferences become more opaque, business schools can take advantage of sharper differences in
where candidates prefer to study and why. Even as the market for talent becomes ever more competitive,
business schools can leverage the latest intelligence on the candidate pipeline to help attract the right
candidates for them.

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 63

 Methodology
The Graduate Management Admission Council (GMAC) For respondents from the United States, analyses were also
Prospective Students Survey has been providing market conducted by self-reported race and ethnicity. Candidates
intelligence insights about candidates’ demand for GME who self-identified as Black or African American, Hispanic,
since 2009. It is a survey conducted in every month of the or Native American were classified as underrepresented
year to individuals who visit GMAC’s web properties (i.e., U.S. candidates. Respondents who self-identified as white or
mba.com, businessbecause.com, callingalloptimists.com, Caucasian, Asian, or another race/ethnicity were classified
gmac.com, gmat.com.cn, and social media accounts) to as non-underrepresented U.S. populations. As the number
learn about GME programs and prepare for applications of respondents for some race/ethnicity groups was small,
to business schools worldwide. Members of partnership results by underrepresented status were reported.
organizations such as the Forté Foundation and Beta Alpha
Psi (an international honor society for accounting, finance, Global results are weighted to more accurately represent
and information system students attending universities the regional population of individuals who may be
accredited by the AACSB or the European Quality interested in a graduate business degree in each region.
Improvement System) are also invited to complete the Public data from sources such as the U.S. Census Bureau,
survey. Responses used for analysis included candidates World Bank, UNESCO Education, and China’s Ministry of
who are actively applying to business schools or currently Education are used to estimate the population size that
researching about graduate business programs. may pursue graduate management education in each
world region, which is used to calculate the expected
Respondents to the 2023 GMAC Prospective Students percentage of prospective students from each region.
Survey come from 132 countries, representing all six Weights are generated by dividing the expected percentage
global citizenship regions. The table on 65 provides of prospective students from each region by the observed
a respondent profile with further details on the percentage of respondents from each region. Weights
characteristics of respondents. are applied when generating global results. Regional or
country-level results are not weighted.
Descriptive analyses were conducted on survey responses
to examine prospective students’ perception of GME, their The 2018 through 2021 prospective student sample results
path to graduate business school, their program of study included in this report are different from those published
preferences, interest in online and hybrid delivery, and in the 2018 through 2021 Summary Reports as these have
career goals. Analyses were conducted on all respondents now been statistically adjusted with weights to increase
and by respondents’ demographic characteristics such as representation across geographies. For this reason, the
gender, age, generation, first-generation status, region of results initially reported in years prior should not be
citizenship, and race and ethnicity (U.S. respondents only). compared to those published here.

Any individual born between 1996 and 2012 is considered To assess the magnitude of differences between groups
a member of Generation Z (Gen Z). Millennial refers to or across survey years, 95 percent confidence intervals
any individual born between 1981 and 1995. Respondents are used. The primary percentage reported is known as
were asked to report their parents’ or guardians’ level of the population parameter. When comparing population
educational attainment. Any respondent whose caregiver parameters across measures of interest (e.g., the level of
had not attained a bachelor’s/four-year degree or higher agreement with a statement across survey year, gender,
level of education was considered to be first generation. region), if the estimated population parameters slightly
Respondents with one or more caregivers who had earned differ, but their 95 percent confidence intervals overlap,
a bachelor’s or higher were considered non-first the true population parameter may be the same. Group
generation. A classification of country to world differences significant at the 95 percent confidence interval
region can be found on 66. level are highlighted throughout this report. Differences
that may not be statistically significant but suggest an
interesting trend may be mentioned as well.

64 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

Respondent
profile
2023 Unweighted 2023 Weighted

N % %

Total 4,105
Gender Male 2,340 57% 57%

Female 1,725 42% 42%

Non-Binary 40 1% 1%

Age Group 22 and Younger 898 22% 27%

23 to 24 681 17% 17%

25 to 30 1,466 36% 33%

31 to 39 768 19% 17%

40 and Older 292 7% 6%

Region of Citizenship Africa 924 23% 2%

Australia and Pacific Islands 13 <1% <1%

Canada 88 2% 2%

Central & South Asia 1,164 28% 26%

East & Southeast Asia 646 16% 15%

Eastern Europe 51 1% 8%

Mexico, Caribbean, & Latin America 174 4% 5%

Middle East 73 2% 4%

United States 705 17% 19%

Western Europe 267 7% 18%

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 65

 Appendix

Africa: Algeria, Angola, Benin, Botswana, Burkina Faso, Latin America: Anguilla, Antigua and Barbuda, Argentina,
Burundi, Cameroon, Cape Verde, Central African Republic, Aruba, Bahamas, Barbados, Belize, Bermuda, Bolivia,
Chad, Comoros, Congo, Djibouti, Egypt, Equatorial Guinea, Bonaire, Saint Eustatius and Saba, Brazil, Cayman Islands,
Eritrea, Ethiopia, French Southern Territories, Gabon, Chile, Colombia, Costa Rica, Cuba, Curacao, Dominica,
Gambia, Ghana, Guinea, Guinea-Bissau, Ivory Coast Dominican Republic, Ecuador, El Salvador, Falkland
(Cote D'Ivoire), Kenya, Lesotho, Liberia, Libyan Arab, Islands, French Guiana, Grenada, Guadeloupe, Guatemala,
Jamahiriya, Madagascar, Malawi, Mali, Mauritania, Guyana, Haiti, Honduras, Jamaica, Martinique, Mexico,
Mauritius, Mayotte, Morocco, Mozambique, Namibia, Niger, Montserrat, Netherlands Antilles, Nicaragua, Panama,
Nigeria, Republic of Congo, Reunion, Rwanda, Sao Tome Paraguay, Peru, Puerto Rico, Saint Barthelemy, Saint
and Principe, Senegal, Seychelles, Sierra Leone, Somalia, Kitts and Nevis, Saint Lucia, Sint Maarten, South Georgia-
South Africa, South Sudan, Sudan, Svalbard and Jan Mayen, Sandwich Islands, St. Helena, St. Martin, St. Vincent and
Swaziland, Tanzania, Togo, Tunisia, Uganda, Western Grenadines, Suriname, Trinidad and Tobago, Turks and
Sahara, Zambia, Zimbabwe Caicos Islands, Uruguay, US Minor Outlying Islands,
Venezuela, British Virgin Islands, US Virgin Islands
Australia and Pacific Islands: American Samoa, Australia,
Christmas Island, Cocos (Keeling) Islands, Cook Islands, Middle East: Bahrain, Iran, Iraq, Israel, Jordan, Kuwait,
Fiji, French Polynesia, Guam, Heard Island and McDonald Lebanon, Oman, Palestinian, Territory, Qatar, Saudi
Islands, Kiribati, Marshall Islands, Micronesia, Nauru, New Arabia, Syrian Arab Republic, Turkey, United Arab
Caledonia, New Zealand, Niue, Norfolk Island, Northern Emirates, Yemen
Mariana Islands, Palau, Papua New Guinea, Pitcairn,
Samoa, Solomon Islands, Tokelau, Tonga, Tuvalu, Vanuatu, United States
Wallis and Futuna Islands
Western Europe: Aland Islands, Andorra, Austria,
Canada Belgium, Bouvet Island, Cyprus, Denmark, Faroe Islands,
Finland, France, Germany, Gibraltar, Greece, Greenland,
Central & South Asia: Afghanistan, Bangladesh, Bhutan, Guernsey, Iceland, Ireland, Isle of Man, Italy, Jersey,
British Indian Ocean Territory, India, Kazakhstan, Liechtenstein, Luxembourg, Malta, Monaco, Netherlands,
Kyrgyzstan, Nepal, Pakistan, Tajikistan, Turkmenistan, Norway, Portugal, San Marino, Spain, Sweden, Switzerland,
Uzbekistan United Kingdom, Vatican City State

East & Southeast Asia: Brunei Darussalam, Cambodia,

China, East Timor, Hong Kong SAR, Indonesia, Japan, North
Korea, South Korea, Laos, Macao SAR, Malaysia, Maldives,
Mongolia, Myanmar, Philippines, Singapore, Sri Lanka,
Taiwan (China), Thailand, Vietnam

Eastern Europe: Albania, Armenia, Azerbaijan, Bosnia

and Herzegovina, Bulgaria, Croatia, Czech Republic,
Estonia, Georgia, Hungary, Latvia, Lithuania, Macedonia,
Moldova, Montenegro, Poland, Republic of Kosovo,
Romania, Serbia, Serbia and Montenegro, Slovakia,
Slovenia

66 Graduate Management Admission Council™ | Prospective Students Survey Report 2024

Contributors

Andrew Walker
Director, Research Analysis and Communications

Andrew supports GMAC’s commitment to presenting and disseminating

actionable and relevant information about graduate management
education through authoring reports, white papers, and briefs available
on gmac.com and leading presentations, workshops, and panel discussions
at industry conferences. Andrew earned a Master of Public Policy and BSFS
in International Politics from Georgetown University.

Analysis, Design, and Review

The following individuals at GMAC made significant contributions to the
execution of the survey and preparation of this report:

Quan Yuan, Associate Manager of Survey Research, survey management

and analysis lead, manuscript review; Nicola Rampino, Strategy Analyst
Associate, visualization design, manuscript review; Seaenna Yang,
Strategy Analysis Associate, visualization design; Kun Yuan, Director,
Research & Data Science, manuscript review; Sabrina White, Vice
President, School & Industry Engagement, manuscript review.

Contact Information
For questions or comments regarding the data or analysis
presented in this report, please contact the GMAC Research
Department at [email protected].

Graduate Management Admission Council™ | Prospective Students Survey Report 2024 67

©2018-2024 Graduate Management Admission Council (GMAC™). All rights reserved. The trademarks referenced herein are owned by Graduate
Management Admission Council or its subsidiaries in the United States and other countries. Notwithstanding the foregoing, any third-party trademarks
referenced remain the property of their respective holders, and their use does not imply any affiliation, sponsorship, or endorsement unless otherwise
stated. No part of this publication may be reproduced, stored in a retrieval system, distributed or transmitted in any form by any means, electronic,
mechanical, photocopying, recording, or otherwise without the prior written permission of GMAC (contact [email protected]).