Will Gen Z Kill the MBA?
Recent headlines have highlighted findings from GMAC’s latest survey of prospective graduate business students (i.e., people who have registered for the GMAT and submitted a survey response). GMAC asked important questions around the types of graduate business education today’s students (Gen Z, that’s you!) are seeking and why they are motivated to pursue an MBA or related degree. You may have also read in recent years about measurable declines in MBA applications or even opinions from people like Elon Musk who seem to think MBAs are ruining corporate innovation.
So, what do these pieces of information tell us about the future of the MBA? Is it a legacy degree that is not of value to tomorrow’s business leaders? How should educational institutions evolve to meet the needs of their students for years to come?
Who Is Gen Z?
To better understand these questions, we first examined the characteristics commonly associated with Gen Z. While no generation fits perfectly into a single definition, several themes consistently appear in research about today’s younger professionals.
According to Stanford scholar, Roberta Katz, the typical Gen Zer ‘is a self-driver who deeply cares about others, strives for a diverse community, is highly collaborative and social, values flexibility, relevance, authenticity and non-hierarchical leadership, and, while dismayed about inherited issues like climate change, has a pragmatic attitude about the work that has to be done to address those issues.’
Several defining experiences have also shaped Gen Z’s worldview. They are the first generation to grow up entirely in the digital age, and many entered the workforce during or shortly after the global pandemic. These experiences have influenced how they view work, education, leadership, and career growth.
And the Survey Says…
With that context in mind, the GMAC survey offers useful insight into what Gen Z students want from MBA programs and graduate business education overall. Several findings stood out.
- More respondents said they want business school to enrich their lives and help them reach their potential (79%) than to build wealth (58%) or increase income (64%).
- Interest in one-year MBA programs (22%) closely matches interest in traditional two-year programs (20%). However, full-time MBA programs and in-person learning remain the preferred experience for most students.
- Gen Z applicants place strong value on social impact initiatives and corporate social responsibility offerings. Compared to Millennials, they also show less interest in pursuing careers in technology.
What This All Means
One of the most important takeaways from the survey is how closely MBA programs align with the values Gen Z students prioritize.
For example, Gen Z places strong value on collaboration. Full-time MBA programs support this through team-based coursework and networking. Graduates often cite these relationships as the most valuable part of business school.
They also value diversity. MBA admissions officers intentionally build classes from across the globe. They seek students with varying pre-MBA careers and backgrounds. Without fail, when alums reflect on their time in business school, they mention interacting with a highly diverse set of peers as one of the greatest benefits of the experience.
Not only does the MBA experience align with Gen Zers’ values, it also prepares these future leaders to enact the change they see as necessary in the world – or at least business schools are evolving their programs in this direction.
As Roberta Katz’ work shows, the next generation knows problems exist. They understand solving them requires hard work—not just hopes and dreams. The GMAC survey confirms this. Respondents want to learn how to leverage their careers to drive change. With nearly every top MBA program offering social impact curriculum and numerous launching DEI concentrations, it seems administrators are working to address the needs of tomorrow’s students.
So, at the end of the day, it appears the needs and wants of the next generation are actually converging with what the MBA offers, not the opposite. We’re happy to be in a position to help guide our talented, ambitious (but not in a Wolf of Wall Street way) clients towards the educational opportunities that will help them influence the change they want to see in the world.
After all, that’s exactly why our Co-Founder, Melody, got into this business in the first place. We both believe that an MBA is far more than a degree – it transforms lives and careers for the better. And so we’re on a mission to enable those dreams of a top MBA for anyone who’s ready to do the work.
So yes, the MBA is alive and well. And we’re here for it.
Ultimately, if you’re ready to take the next step in your MBA journey, now is the time to act. Schedule an initial consultation with our expert MBA admissions consultants today and get personalized guidance to make your application stand out.
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Katie is a passionate mentor and coach, helping her clients craft a unique, compelling story by leveraging her experience as a corporate executive, alumni interviewer, and campus recruiter. Before completing her MBA at Kellogg, Katie spent five years in banking where she learned practical finance skills as well as how to operate in a demanding, high pressure environment. She pursued an MBA in order to transition to an industry role where she could utilize her finance knowledge to drive change within an organization. Post-MBA, she worked in finance and strategy for a leading CPG firm, progressing to an executive role leading the finance function for a $2B business segment. Her experience managing diverse teams led to a passion for developing others. In addition to her day-to-day responsibilities, she led her firm’s MBA recruiting efforts and served as an alumni admissions interviewer for Kellogg.
