Why 2025 might be the best year ever for MBA applicants

Hot take: 2025 might be the best year ever to apply to MBA programs. 

The current MBA landscape in the US (as evidenced by increasing concern across MBA forums, our conversations with clients, the admission consultant grapevine, and our favorite MBA opinion marketplace, Reddit) is fraught with growing anxieties over immigration and employment. 

Amidst current economic uncertainty and a soft job market, Poets&Quants predicts that application growth may level off in the 2025-2026 application cycle. This is also because more international MBA candidates may self-select out of applying to US b-schools this year given the Trump administration’s policies, including bans on international students at Harvard, encouraging the scrapping of DEI policies and initiatives at educational institutions, and pausing student visa interviews to consider social media vetting.

At Harvard, 35% of the class of 2024 was international, and Wharton, with only 31%. 

What does this mean for MBA applicants in 2025? 

If we do see a decrease in the volume of international applicants to US business schools, it might just be good news for those willing to move forward with their MBA applications.

Less competition: If you’re an American applicant, you may end up with fewer international students to compete against for that highly selective MBA program. If you’re an international applicant, you may face better admissions odds. You can also choose to defer your admission if you have Visa concerns. 

New curriculum trends: Business schools are increasingly incorporating AI tools and AI-driven business courses into their curriculum to equip students with the skills they’ll need in the modern workplace, especially in the tech sector. Employers seek MBA graduates skilled in leveraging AI for business insight and strategic development, not just content creation. 

Entrepreneurs are thriving: Business school graduates are increasingly drawn to entrepreneurship after completing their MBAs, as reported by the Economist. Notably, graduates are attracting investors with "search funds”, which deliver strong returns for investors. For example, 94 search funds were initiated by Stanford GSB graduates in 2023. 

Statistical advantage: If applicants delay until next year, it might be even more competitive. We saw this during Covid, where a drop in applications in one cycle was followed by a surge in the following years, with some of the best candidates being rejected due to the sheer volume of applications b-schools received. 

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Are more MBA applicants choosing Europe and the UK?

So if international applicants aren’t applying to b-schools in the US in the same volumes, where are they going?

At SWC, we’ve seen a growing interest in top MBA programs in Europe and the UK, including INSEAD, LBS, Oxford SBS, Cambridge Judge, HEC Paris, and others. Their short program length of one year allows for quicker ROI and lower opportunity costs, and their global network offers students a diverse environment and cross-cultural perspectives. 

Global rankings:  Many European MBAs rank competitively with top U.S. programs; INSEAD (#11), LBS (#5), HEC Paris (#6), Cambridge Judge (#7)—all rank within or above U.S. T15 levels.

Shorter program durations: Most European MBAs are 12–18 months long vs. 2 years in the U.S. Shorter formats mean lower tuition and reduced opportunity cost, as well as a faster return to the job market, increasing cost-effectiveness.

Lower tuition and living costs:  Tuition at top European MBAs generally ranges from $50,000–$100,000. Living expenses are also often lower in cities like Barcelona or Berlin vs. NYC or SF. If you’re an American MBA candidate, the strong U.S. dollar makes these programs more affordable for you. 

International diversity: Exposure to global perspectives prepares students for cross-cultural leadership. And European programs are truly global; INSEAD’s Class of 2025 had 1,000 students from 110 countries and LBS had ~90% international students from 60–70 countries. Compare this to Harvard, where only 35% of the class was international, and Wharton, with only 31%. 

Strong career outcomes: INSEAD, IESE, LBS report 40–50% placement in top consulting firms (MBB). HEC Paris and SDA Bocconi show strong placements in finance & luxury sector hubs, while ESADE, Imperial, and IE are known for their tech, innovation, and entrepreneurship stronghold. Fintech is booming due to Europe’s unified regulatory frameworks like PSD2. 

Favorable odds for American applicants: U.S. candidates often face better odds at European programs due to fewer domestic quotas, smaller applicant pools, and a strategic focus on U.S. students. European programs typically admit 20–30% Americans.

Here’s everything you need to know about applying to MBA programs in Europe and the UK.

What about next year?

If you’re thinking about delaying your MBA application to next year, so are other applicants. And more applicants = heavier competition.

In our experience, a competitive cycle means that many strong candidates are waitlisted or rejected, simply because too many applicants with a similar profile are applying at the same time. This means, if you move forward with your MBA aspirations now, you will likely face fewer hurdles, and potentially receive more generous merit-based scholarships to help sweeten the pot.

Also consider possible recession periods. With talks of a looming recession (which is typically accompanied by a surge in applications at b-schools), applying this cycle could also help applicants be ahead of the curve and avoid the heavy competition. We saw this during the 2008 recession, when GMAC reported that economic changes and GMAT test-taking patterns suggested that the highest level of growth in application volume would occur in 2009, only after which a slowdown was likely to begin.

So if you're looking to stay ahead of the curve, we recommend applying this year.

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Want to get started on your MBA applications this year? Get in touch for a free chat.