GMAC’s Eight Types of MBA Aspirants
The journey to getting an MBA is as diverse as those who embark upon it. The Graduate Management Admission Council's (GMAC) recent white paper, "Meet the Segments," categorizes eight types of MBA aspirants, each with unique motivations, goals, and aspirations.
When GMAC last conducted this research in 2016, they focused on the motivations of graduates who had pursued specific degree programs and schools. This time, the survey broadened to include younger prospective students who hadn’t yet solidified their graduate management education plans.
This paper's information is based on a survey of 10,000 prospective MBA students in 21 countries. Explore these eight types of MBA aspirants and see which archetype best describes you.
Social Impact Champions
Motivation: Contributing Positively to Society
Social impact champions want to make a difference in the world. They care deeply about social issues like poverty, inequality, and the environment. These individuals often seek MBA programs with strong corporate social responsibility (CSR) elements. They see the MBA as a way to increase their positive impact on society.
Case in Point: Alex, a community organizer, wants to improve educational opportunities in underserved areas. He seeks an MBA to gain project management and fundraising skills, aiming to launch a non-profit organization that builds and supports schools in low-income neighborhoods.
Are you wondering whether a social impact MBA can help you reach your career goals faster? Stacy Blackman offers a Social Impact Accelerator package designed specifically for purpose-driven applicants.
Aspiring Entrepreneurs
Motivation: Owning Their Own Business
Aspiring entrepreneurs dream of starting and running their own businesses. They seek MBA programs with entrepreneurship tracks, incubators, and access to venture capital. These programs give them the skills and connections to turn their ideas into successful businesses.
Case in Point: Samantha has developed a sustainable fashion brand focused on eco-friendly materials. She wants an MBA to learn about business management, marketing, and securing investments to expand her brand globally.
Listen to B-Schooled Podcast Episode #204: Stacy Blackman on Entrepreneurship
Family-Focused Achievers
Motivation: Supporting Their Family and Making Them Proud
Family-focused achievers want to improve their family's lives and make them proud. They often come from backgrounds where higher education is critical to a better future. These aspirants look for MBA programs that promise good job placements and strong alumni networks.
Case in Point: Maya, the first in her family to attend college, sees an MBA as a way to get a better-paying job in finance. This will allow her to support her siblings and parents.
Don't miss Charting Your Destiny: Advice for First-Generation MBA Applicants
Wealth Builders
Motivation: Earning More Money
Wealth builders aim to increase their earnings. They view an MBA as an investment leading to higher salaries and better job opportunities. These aspirants pursue programs known for high post-MBA salaries and courses in lucrative fields like investment banking and consulting.
Case in Point: David is a mid-level manager in a tech company. He wants an MBA to accelerate his career and increase his earning potential.
Career Advancers
Motivation: Gaining Career Options and Technical Skills
Career advancers want to move up the corporate ladder by gaining advanced skills. They are often professionals looking to pivot within their industry or take on leadership roles. These aspirants seek MBA programs with specialized tracks and industry certifications.
Case in Point: Sophia is an engineer who wants to move into management. She believes an MBA will give her the strategic thinking and leadership skills needed to advance her career.
Career Agnostics
Motivation: Figuring Out Their Ideal Career
Career agnostics are exploring their career options. They see an MBA as a way to discover their professional interests. They value programs with a broad curriculum and robust career counseling services.
Case in Point: Rachel has worked in various roles within her company's operations department but hasn't found a niche she loves. She hopes an MBA will expose her to different fields like finance, marketing, and consulting, helping her identify a career path that excites and fulfills her.
Global Careerists
Motivation: Studying and Working Abroad
Global careerists want international experience. They seek MBA programs with strong global reputations, international campuses, and study abroad opportunities. They find programs that emphasize global business practices attractive.
Case in Point: Carlos works in sales for a local company in Brazil and dreams of working in Europe. He wants an MBA from a school with a strong global network and exchange programs, hoping to gain international business skills and build connections that will help him secure a job in the European market.
Lifelong Learners
Motivation: Personal Growth and Development Through Digital Means
Lifelong learners crave knowledge and self-improvement. They prefer flexible MBA programs that offer online or part-time options. These aspirants seek personal growth while balancing learning with their responsibilities.
Case in Point: James is a software developer interested in acquiring business skills. He prefers a well-ranked online MBA program that allows him to continue working while learning.
All Roads Lead to B-School
The different motivations and goals of MBA aspirants highlight the need for various MBA programs. Knowing which category they fit into can help aspirants choose the right program.
Whether they aim for social impact, entrepreneurship, family support, wealth, career advancement, exploration, global experience, or lifelong learning, each type of MBA aspirant brings unique perspectives and ambitions to the table. This diversity enriches the MBA journey for everyone involved.
***
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. We offer multiple services to meet your MBA application needs, from our All-In Partnership to hourly help with essay editing, interview prep, and MBA resume review. Contact us today for a free 15-minute advising session to talk strategy with a Principal SBC consultant.