The Importance of the Diversification of Programmes

Dr Wieser launched several Specialised Master’s programmes during her time as Dean of St. Mary's University of Minnesota: “It was a strategic decision. Specialised Master’s programmes allowed us to attract a different demographic, younger students, more international applicants, people looking for a very specific skill set. And they also diversified our revenue streams.”

This kind of programmatic innovation is accelerating across the globe, according to AACSB.

Business schools are adding micro-credentials, executive education, dual degrees and industry-aligned certifications to meet diverse student and employer needs.

“We expect the MBA to deepen its integration of technology, sustainability, and inclusion across the curriculum,” says Patel. “It will diversify in delivery, fast‑track, hybrid, modular, and retain its place as a high-impact, high‑ROI option for mid‑career and career‑transition students.”

Schools need to be proactive rather than reactive to be competitive in the market.

“The schools that are going to win are the ones that embrace creativity, innovation and speed,” says Dr Wieser.

“It’s important to be creative, think about new modular ways of offering education and launch things that are directly aligned with market needs and then do what you can to grow or speed up processes for introducing new things to prospective students.”

Online, On Campus or Hybrid?

Modality poses another layer to the complex landscape.

According to a recent QS pulse data, MBA enrolments are now highest in online formats, particularly among working professionals who value flexibility.

“The online MBA student tends to be a career accelerator,” Dr Wieser explains. “They’re often already employed and need the MBA as a ‘ticket’ to promotion. On the other hand, the full-time, on campus MBA student is more likely a career changer, seeking immersive experiences and the chance to reset their trajectory.”

This bifurcation is driving schools to tailor not only what they offer, but how they offer it.

Shorter formats, asynchronous content, stackable modules and industry partnerships are all part of the MBA’s evolution.

Meanwhile, Specialised Master’s programmes are often offered in intensive, one-year formats, appealing to international and domestic students alike.

“The one-year Specialised Master’s is a strong value proposition. It’s affordable, focused and aligned with the skill sets employers are actively seeking,” note Dr Wieser.

Global Trends, Local Nuance

Although the broad trends are consistent across regions, the specifics vary depending on location.

In Europe, for example, the Master’s in Management (MiM) has long been a foundational business qualification, in many ways fulfilling the role the MBA plays in the US.

In contrast, the MiM is still in its infancy in the US, with American business schools only recently having started scaling the MiM and other similar early-career master’s offerings.

There is rapid growth in both MBA and Specialised Master’s formats in the Asia Pacific, especially in business analytics and supply chain, areas aligned with regional economic development.

The Americas are seeing a strong shift toward online MBA delivery and increased segmentation across programme types, particularly in top-tier US institutions.

“There’s no one-size-fits-all,” Dr Wieser says. “But almost everywhere, we’re seeing a move toward flexibility, modularity and student empowerment.”

Differentiating Offerings in a Potentially Saturated Market

With more institutions launching similar programmes to address the wants of graduate business students, particularly in finance, analytics and supply chain, there’s a growing risk of market saturation across the globe.

“It’s rare now to find a business school that doesn’t offer both a Master’s in Finance and Business Analytics,” Dr Wieser notes. “The challenge is differentiation. How does your programme stand out? What makes it distinctive in terms of experience, outcomes, or industry engagement?”

To future-proof their programmes, Patel suggests four key strategies for business schools.

Differentiate on leadership, ethics and strategic thinking areas where human decision-making still reigns; offer stackable credentials allowing students to build toward an MBA or executive education over time; prioritise flexible, inclusive formats to widen participation and accessibility; deepen employer ties ensuring relevance, employability and real-world engagement.

A Reimagined Ecosystem

Although at first glance it may have seemed that graduate business education is shrinking, the truth is that the increase in applications and enrolment onto Specialised Master’s programmes demonstrates it’s diversifying.

The MBA, once the undisputed cornerstone, now shares the stage with a suite of specialised, targeted and flexible credentials that reflect the needs of today’s students and employers.

For students, the opportunity lies in choice: choosing the right programme for the right moment in their career. For business schools, the imperative is agility - to evolve alongside a global economy that increasingly rewards skills, adaptability, and lifelong learning.

“The world requires so many different considerations of our leaders,” Patel reflects. “We still need MBAs, but we also need other pathways. The future lies in offering both.”