2026年商科潜在学生调查报告

GMACProspectiveStudentsSurvey2026

ReportThedirectionof

the

futurecandidate

pipelineisbeingreshapedby

what,how,andincreasingly

where

prospective

studentschoosetostudy.Whenbuildingnewstrategies,businessschoolsshould

factorintheelasticityof

evolvingpatternsin

globalstudentmobilityascandidatesexplorea

broaderarrayof

studydestinations

worldwide.

Atthesame

time,candidatesarebecomingevermoredisciplinedinhow

theyassessreturnoninvestment,challenging

programsto

demonstrateclearrelevanceandconcreteoutcomes.Insights

fromtheGMAC

ProspectiveStudentsSurvey-

2026report

suggestthatsuccessinthisenvironment

willhingeonhoweffectivelyschoolscommunicatemeasurable

valueandbuild

trust

with

prospectivestudentsnavigatinganincreasingly

complex

globallandscape.GMAC|

Prospective

Students

Survey

2026

Report2JoyJonesCEO,

GMACTableof

contentsIntroduction.................................................................................................................4Executive

summary

....................................................................................................6Key

findings.................................................................................................................7Motivations

and

barriers

...........................................................................................9Study

destinations....................................................................................................23Preferred

degrees

and

modalities

.........................................................................29Skills

and

careers

....................................................................................................39Application

and

financing

plans............................................................................48Conclusion.................................................................................................................57Methodology..............................................................................................................58Appendix

....................................................................................................................

61Contributors.............................................................................................................63GMAC|

Prospective

Students

Survey

2026

Report3For

more

than15years,the

GMAC

Prospective

Students

Surveyhas

providedtheworld’sgraduate

businessschoolswith

critical

insights

intothedecision-making

processesof

peopleactivelyapplying

to,considering,or

researching

graduate

managementeducation

(GME)

programs.

Its

questions—covering

a

diverserangeoftopicsthat

impact

prospectivestudents’application

and

enrollmentdecisions—provideschool

professionalswithtimely,

relevant,and

reliable

market

intelligencetoinform

howtheyengagewithcandidatesto

buildtheir

incoming

classes.Thisyear’s

report,which

considers

datacollectedthroughoutthe2025

calendaryear,

continues

to

explore

candidates’

program

and

modality

preferences,theskillsthey

planto

cultivate

inbusinessschool,

andthe

careergoalsthey

ultimatelyaimto

achieve.

Inthe

context

of

newpatternsofapplicationtrends,weexamine

prospectivestudents’

preferred

study

destinations

earlierintheir

pathsto

GME.The

report

also

dives

deep

into

underlying

candidate

motivations

and

barriers

aswellasthetacticalmechanicsoftheir

application

and

financing

plans.Respondents

include

candidateswhovisited

GMAC’sweb

properties

(i.e.,

,,,,

and

social

media

accounts)to

learn

aboutand

prepare

applicationsto

GME

programs.

Respondents

may

also

be

members

of

partnerorganizations

(e.g.,

Forté

Foundation,

BetaAlpha

Psi)who

are

interested

in

GME.

Oursampleis

highly

representative

ofastrong

applicant

poolthat

overwhelmingly

plansto

enrollin

GMEprogramswithinthe

nexttwoyears,with

a

margin

oferror

ofone

percent

when

reportingglobaltrends.

No

otherdatasource

currentlyavailable

providesthe

breadth

and

depth

ofsample

and

datato

business

school

professionals.Additionalinformation

onthe

surveymethodologyand

analytical

procedures

underpinningthe

surveyandthis

report

can

befound

in

the

methodologysection.This

analysis

is

intendedto

comment

ontrends

and

patterns—notto

implythat

anyonegroup

is

monolithic

intheir

preferences

and

behaviors.Find

more

ways

to

explore

GMACProspectiveStudentsSurvey

results

at/prospectivestudentsIntroductionGMAC

|

Prospective

Students

Survey

2026

Report44,253Survey

respondents46%Female

respondents145Countries

ofcitizenship

represented27%Underrepresentedrespondents

(U.S.

only)

AboutGMACGMAC

is

aglobal

nonprofit

association

ofleadinggraduate

businessschools

committedtoconnectingfuture

business

leaderswith

educationalopportunities

and

advancinggraduatemanagement

educationworldwide.Through

assessments,

research,

events,

and

recruitmentsolutions,we

providethetools

and

information

necessaryforschools

and

candidatesto

discover

and

evaluate

each

other.With

offices

in

China,

India,the

United

Kingdom,

andthe

UnitedStates,

GMACserves

morethan17

millionvisitors

eachyearacross

its

digital

platforms.GMAC|

Prospective

Students

Survey

2026

Report

52026Survey

sample

statsThe

GMAC

Prospective

Students

Survey-2026reportrevealsthat

GME

candidates

are

redefiningwheretheywanttostudy,whatthey

expectto

learn,

andhowtheyevaluate

return

on

investment

(ROI).Today,

candidatesview

businessschool

less

as

avehiclefor

career

pivoting

and

more

as

a

pathwayto

durableskills,

clear

ROI,

andspecific

careeroutcomes.Atthesametime,thetriggerto

apply

is

more

sociallyinfluencedthanever

before,with

inputfrom

parents,

professors,

andfriends

increasingly

promptingapplication

planning.As

businessschools

refinetheirvalue

propositions,

thisyear’s

resultsshowthatcandidatesearlier

inthe

GME

journey

need

moresupport

invisualizinghowgraduate

businesseducationfits

intotheirlives.Comparedtothoseclosertoapplying,

candidatestwo

or

moreyearsoutexpressgreaterconcerns

about

cost,

timecommitment,and

potentialcareerdisruption.Outreachtoearly-stagecandidates

is

mosteffectivewhengrounded

inconcreteexamples

ofstudent

andalumni

lifestyles,financingstrategies,and

careeroutcomes.Transparencyaroundcost,funding,

andtimecommitmentisespecially

critical,

as

early

pipeline

candidates

holddifferentfinancingexpectationsthanthose

preparingtoapplywithintheyear.Following

a

banneryearfor

business

master’sapplicationgrowth,2025saw

preferred

degree

types

remain

largelystable.

MBA

programs

continuetodominate

amongtheircore

pipelineof25-30-year-olds,while

pre-experience

candidates—who

already

comprise

much

ofthe

business

master’s

market—showevenstronger

interest

in

non-MBAgraduatebusiness

programs

comparedto

pre-pandemic

levels.Interest

infull-time,

in-person

learning

also

remained

elevated

after

lastyear’s

resurgence,withwomenandfirst-generationcandidatescontinuing

to

express

outsized

demandforflexible

modalities.Acrossdegrees,

expectationsforartificialintelligence

(AI)

are

nowwidespread,

joiningcross-functionalprioritiessuch

asstrategy,

business

analytics,

and

corporate

finance

as

core

curricularimperatives.Prospectivestudents

are

also

reconsidering

notjustwhatand

howtheywanttostudy,

but

where.Recenttrends

pointtostructural

risks

inthe

U.S.internationaltalent

pipeline.

Non-U.S.

citizens

report

thatthe

current

U.S.government's

policies

andpractices

have

deterredtheir

plansto

pursue

GME

in

the

UnitedStates,

redirecting

interest

largelytoward

Western

Europewhile

expandingshort

liststo

include

programs

across

a

broader

range

ofdestinations.Lastyear’s

GMAC

Prospective

Students

Surveyfocused

onthe

channels

and

messagesthatresonate

mostwith

candidates.Thisyear’s

reportgoesfurther,

examiningthe

underlying

mindsetsthat

drawcandidatestoward—orawayfrom—graduatemanagement

education.Amid

disruptivetechnologies,

shifting

mobility

patterns,

and

rising

expectationsforvalue,

businessschoolsthat

adapt

howtheyrecruit,

communicate

outcomes,

and

design

learning

experienceswillbe

best

positionedto

sustaindemand

and

expand

access

intheyears

ahead.ExecutivesummaryGMAC|

Prospective

Students

Survey

2026

Report6Key

findings

Motivationsand

barriers⚫On

average,

candidates

are

less

motivated

than

before

to

pursue

GME

to

change

their

careertrajectory,

nowfocused

more

on

skills

and

ROI.⚫

Younger

candidates

are

more

likelyto

pursue

GMEto

increasetheir

income,status,opportunities

abroad,

andfamily

pride

comparedto

candidateswho

arefurther

along

intheir

careers.

Older

candidates

arestill

more

likelytoseek

out

career

pivots

and

promotions.⚫Comparedto

pre-pandemic

levels,

candidates

are

more

likelytotake

actiontoward

pursuing

GME

duetosocial

influences

and

becausethey

lackskillsto

apply

for

a

specific

job.⚫Candidateswho

are

earlier

intheirjourneyto

graduate

business

school

are

moreconcerned

about

cost,

potential

career

disruption,

and

demands

ontime

comparedto

candidateswho

planto

apply

within

the

nextyear.

Studydestinations⚫Candidates

increasingly

preferto

study

in

Western

Europe

overthe

United

States—

especially

candidatesfrom

Central

andSouthAsia

and

Latin

America.⚫Overthe

course

of

2025,

non-U.S.

citizenswere

increasingly

deterredfrom

pursuing

GME

in

the

United

States

duetothe

policies

and

practices

ofthe

current

U.S.government.

Preferreddegreesand

modalities⚫The

core

pipeline

of

MBA

candidates

aged

25-30

have

maintained

consistent

preferencefor

full-time

MBA

programs

since

2019.

Candidates

aged

22

andyounger—typically

considered

the

core

pipeline

of

business

master’s

degrees—reported

evengreater

preferencefor

non-

MBA

business

master’s

programs

in

2025

comparedto

pre-pandemic

levels.⚫Global

candidates’

preferenceto

studyfull-time

and

in-person

held

steady

in

2025

afteran

uptick

in

preferencefrom

2023to

2024.

Preferencefor

hybrid

andflexible

learning

also

held

steady

in

2025

after

a

decline

in

preferencesfrom

2023to

2024.⚫In

2025therewas

a12-point

gender

gap

in

global

candidates’

preference

to

study

full-time

and

in

person—the

largest

since

at

least

2019.GMAC

|

Prospective

Students

Survey2026

Report

7

Skillsand

careers⚫

AI

is

now

a

common

curricular

expectation

across

most

degree

types,joining

topics

like

strategy

and

business

analytics

inwidespread

appeal

to

candidates

seeking

differentGME

programs.⚫Employers

and

candidates

continueto

agreethat

strategicthinking

and

problem-solvingarethetop

skillsto

develop

in

business

school.

Comparedto

candidates,

employers

place

more

emphasis

on

human

skills

like

initiative,

coachability,

and

emotional

intelligence.⚫Pre-experience

candidates

aregrowing

less

interested

inthetechnology

sector

as

their

desirefor

post-GME

careers

infinancial

servicesgrows.

Applicationand

financing

plans⚫

Women,first-generation

candidates,

and

U.S.

underrepresented

candidates

planto

send

fewer

applicationsthantheir

counterparts.1⚫On

average,

Master

of

Finance

candidates

plantosubmitthe

most

applications

(5.22)comparedto

other

degreetypes,

and

accounting

candidates

plantosubmitthe

fewest

(2.61).⚫Full-time

MBA

candidates

reportthe

lowest

pricesensitivity

abouttuition

andfees

compared

to

candidatesseeking

othergraduate

business

degrees,withwomen,

U.S.

underrepresented,

andfirst-generationcandidatestypically

morecost-consciousthan

their

counterparts.1.

Any

respondentwhose

caregiver

had

not

attained

a

bachelor’s/four-year

degree

or

higher

levelofeducationwas

consideredto

be

first-generation.

U.S.

candidateswhoself-identified

as

BlackorAfricanAmerican,

Hispanic,

or

NativeAmericanwere

classified

as

underrepresented

U.S.

candidates.GMAC

|

Prospective

Students

Survey2026

Report

8⚫Candidates

are

shifting

from“career

switching”to

targetedskill-buildingwithclearROIexpectations:

Leadwithoutcome-driven

messaging—employment

outcome

data,role

progression,

salary

impact,

and

alumni

success

stories

tiedto

specific

skills.⚫TriggerstopursueGMEare

increasinglysituationalandsociallyinfluenced:Alumni

and

student

ambassadors

remain

important

influencers,

but

also

considerspecific

outreachto

parents

aswellas

professors,who

are

especiallyinfluentialto

candidates

currentlyenrolled

in

adegree

program.⚫

FinancialconcernsremaintheprimarybarriertoGMEacross

regions,but

especially

at

early

stages

of

the

journey:

Normalize

discussions

ofcost,

ROI,

andfinancialaid

in

early-

stage

contentto

reducestickershock

and

uncertainty.⚫Candidates

who

are

earlier

in

their

journey

to

GME

are

moreconcerned

about

potential

career

disruption

and

demands

on

time:

Help

candidatesvisualize

howgraduate

businessschool

canfit

intotheircareer

journeyand

lifestylewith

specificexamples

ofcareer

paths

andstudent/alumnistoriesthat

focus

ontheir

routines

and

howthey

balanced

academic,

professional,

and

personalobligations.Understandingwhatdrives

prospectivestudentstoward

GME—andwhat

holdsthemback—iscentralto

howbusinessschoolsshape

programs,communicatevalue,

and

build

sustainable

pipelines.

Motivationssignal

howcandidatesdefinesuccess

intoday’s

labormarket,while

barriers

revealwhereevenstrong

interestcanstall

before

application.Together,theyofferearlyinsight

intoshifting

expectations

around

skills,

outcomes,

andaccess

that

increasingly

influence

demand

across

degree

types

and

regions.

Examiningtheseforcesprovidescriticalcontextforidentifyingwhereinstitutionscanmost

effectivelyadapt

programdesign,

messaging,andsupportto

meetevolving

candidate

needs.Motivationsand

barriersProgramandrecruitmenttakeawaysandtipsGMAC

|

Prospective

Students

Survey2026

Report

9

Candidatesare

less

motivated

to

pursueGME

to

change

theircareer

trajectory

than

before,

now

focusedmoreon

skills

andROI.Severalyears

ofdatafromthe

GMAC

Prospective

Students

Survey

has

illuminatedthemultidimensional

nature

of

howcandidates

decideto

pursue

GME.Things

like

increasingincome

orenhancing

one’s

networkthrough

business

school

havefeatured

astopjustifications

sincewe

added

a

question

about

candidates’

motivationstothe

survey

in

2022

(Figure1).

But

the

most

common

reasonwhy

prospective

studentswantto

attendgraduate

businessschool

is

consistently“to

enrichtheir

life

and

developtheir

potential,”

revealing

acritical—but

lesstangible—factor

in

candidates’

decision-making.Since

2022,

globalcandidates

have

increasingly

been

motivatedto

pursue

GME

in

orderto

gain

business

knowledge

astheir

interest

in

changing

industries

or

jobfunctions

haswaned.

Nearly

three-quarters

of

prospective

students

reportedwantingtogain

business

knowledge

in

2025,even

surpassingthe

desireto

increasetheir

income.

Meanwhile,the

share

ofcandidateswhowantedto

pivottheircareers

dropped16

points,from

58

percent

in

2022to

42

percent

in

2025.

Manycandidates

also

reportedwantingto

pursue

GME

in

orderto

live

in

ortravelto

othercountries,withtwo-thirds

indicatingtheywant

aglobalcareerand

half

specifying

theywould

liketo

work

abroad.GMAC

|

Prospective

Students

Survey

2026

Report

10Global

candidates'

motivations

to

pursue

GME,

2022

and

2025

2022

2025Enrich

life

and

develop

potentialGain

business

knowledgeIncrease

opportunity

of

aglobal

career

Increase

incomeBuild

wealthEnhance

networkGain

accessto

employment

abroadHave

a

positivesocial/environmental

impact

Industry/jobfunction

changeHavetheskills

to

start

my

own

business

SupportfamilyAttainstatus

and

respect

Make

myfamily

proud

Gain

promotionSecure

currentjob81%

77%62%72%68%65%62%59%58%61%54%49%

45%58%42%40%35%28%27%23%23%19%13%14%0%

25%50%75%100%Share

of

prospective

studentsAge

plays

an

important

role

inwhat

motivates

candidatesto

pursuegraduate

managementeducation.While

personaldevelopment

andgaining

business

knowledge

aretopfactorsacross

age

cohorts,youngercandidates—whotypically

havefewer

personaland

professional

responsibilities

comparedto

oldercandidates—are

more

likelyto

attendgraduate

businessschooltoworkortravelabroad

(Figure

2).

Greater

income

is

also

more

likelyto

motivatecandidatestheyoungertheyare,

alongwith

intangible

social

benefits

like

respect,

status,

and

makingtheirfamilies

proud.

Candidates

aged

40

and

older

arethe

most

likelyto

pursue

GME

togain

a

promotion

intheircurrent

role,while

morethan

half

of

candidates

aged

25-39

arestillseeking

career

changethrough

GME.Figure1:Compared

to2022,candidates

in2025were

more

focused

ongaining

business

knowledge

and

less

focused

on

changing

their

industryor

jobfunction.Candidates

arestillmostmotivatedtopursue

GMEto

enrichtheirlife

and

develop

their

potential.Note:Some

options

were

addedafterthe

questionfirstappeared

in

the

surveyin2022,

so

datainthat

yearare

not

available.GMAC

|

Prospective

Students

Survey

2026

Report

11Global

candidates'

motivations

to

pursue

GME

by

age

cohort,

2025

22

and

younger23

to

2425

to

30

31

to

3940and

olde

rIncrease

incomeGain

access

to

employment

abroadAttainstatus

and

respectMake

myfamily

proudIndustry/job

function

changeGain

promotion

66%

64%62%57%56%55%

51%48%45%30%33%25%26%24%21%31%23%22%12%12%23%38%56%54%47%17%15%20%21%26%0%25%50%75%100%Share

of

prospective

studentsStill,thefour-yeardecrease

in

how

manycandidates

cite

changing

industries

or

jobfunctions

as

a

reasonfor

pursuing

GMEwas

statisticallysignificant

across

each

age

cohort

(Figure

3).

For

example,

candidates

aged

40

and

olderwere19

points

less

likelytowantto

change

careers

as

a

motivatorfor

pursuing

GME

in

2022

comparedto

2025,the

largest

dropfor

any

age

group.Though

25-30-year-olds

and31-39-year-olds

arestillthe

most

likelyage

cohortto

cite

industry

or

jobfunction

shifts

as

a

reasonforattendinggraduate

business

school

in

2025,there

was

still

a13-point

dropforeach

cohort

overthe

pastfouryears.Figure2:Younger

candidates

are

more

likely

tobemotivatedbyincreasingincome,opportunitiesabroad,status,andfamilypride,

whileoldercandidatesare

most

likely

to

seek

an

industry/job

function

change

or

a

promotion.Thoughnot

displayed,

enriching

life

anddevelopingpotentialwas

themost

common

motivatoracross

age

cohortsin

2025.GMAC

|

Prospective

Students

Survey

2026

Report

12Candidates’

decreased

emphasis

on

“careerswitching”

should

not

be

interpreted

asgreaterapathytowardtheircareers.

Rather,the

evidence

pointsto

candidates

being

even

moreoutcome-focusedthan

ever

before,

especiallyasthe

“Great

Resignation”

period

cametoaclose,

and

power

inthe

labor

market

shifted

awayfromjob

seekers

and

backtowardsemployers.2

Lastyear’s

GMAC

Prospective

Students

Surveyfoundthat

ROI

and

careeroutcomes

continuedtotopthe

list

of

most-researchedtopics

candidates

considerintheir

journeytoGME—and

at

an

even

greater

ratethanthe

previousyear.

In

2025,therewere

no

statisticallysignificant

changes

inwhatthe

average

candidate

is

researching,with

ROI

and

careeroutcomes

continuingtotopthe

list—even

overfactors

like

program

cost

or

rankings.Yetwhat

candidates

researchvaries

based

ontheir

preferred

degreetype.

For

example,

ROIand

careeroutcomes

arethe

most

researched

aspects

ofGMEthatfull-time

MBA

candidates

consider—and

atstatisticallygreater

ratesthanwhenthe

questionwas

first

added

to

thesurvey

in

2023

(Figure

4).Asfull-time

MBAcandidates’

interest

in

learning

aboutthesefactors

increased,their

research

about

program

cost

and

program

rankings

also

sawstatisticallysignificant

declines.ROI

and

career

outcomeswerethetopfactors

researched

by

professional

MBA(e.g.,

online,hybrid,

or

executive

MBA

programs)

and

business

master’s

candidates

in

2025,too.

Forprofessional

MBAcandidates,

costwas

also

atop

consideration.

Likefull-time

MBAcandidates,

prospective

business

master’s

students’

research

about

program

rankings

sawstatisticallysignificant

declines

comparedto

2023.2.Cox,Jeff.

“Economy

Life

afterthe

‘great

resignation’:

Incentives

are

dimmingforworkers

to

changejobs.”

CNBC,

February19,

2026./2026/02/19/life-after-the-great-resignation-incentives-are-dimming-for-workers-to-change-jobs.html.Global

candidates

motivatedto

pursue

GMEto

change

industries

orjobfunctions

by

age

cohorts,

2022-2025

22

and

younger23-2425-3031-3940

and

olderShare

of

prospective

students100%

75%

66%