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High demand for MBAs but do you really need one? 

As the job market cools, business schools are seeing a surge in applications

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Jessie Lim

Jessie Lim

Published Fri, Dec 27, 2024 · 03:00 PM
    • Despite the high tuition fees, MBAs carry significant appeal due to the prospect of increased earnings post-graduation.
    • Despite the high tuition fees, MBAs carry significant appeal due to the prospect of increased earnings post-graduation. ILLUSTRATION: MIDJOURNEY AND SIMON ANG, BT

    APPLICATIONS to Master of Business Administration (MBA) programmes rose to the highest level in five years in 2024 amid a slowing economy and an uncertain labour market.

    More students now see value in business school as a stepping stone, with candidates hoping to get an edge or make a career pivot, say industry watchers. Linda Teo, country manager for employment agency ManpowerGroup Singapore, points out that individuals are finding ways to “stay relevant for the future of work”.

    The number of global layoffs over the past few years has only increased the urgency – in 2024, several large companies including Dyson, Ninja Van, PropertyGuru and Lazada announced job cuts. Naturally, concerns over job prospects could be an additional factor driving some back to school.

    BrunchNational University of Singapore

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