B-Schools

What Good Is an MBA Anymore, Anyway?

Applications are down and tuition is up. Is it worth it?

Francesca Cornelli, dean of the Kellogg School of Management at Northwestern University. — Francesca Cornelli, dean of the Kellogg School of Management at Northwestern University.
*Photographer: Taylor Glascock/Bloomberg*

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By Shelly Hagan

November 4, 2019 at 10:50 AM UTC

This article is for subscribers only.

This article is part of the November 11, 2019 issue of businessweek.

U.S. business schools have a very big problem: Not enough people want an MBA anymore.

Applications are down across the board. The U.S. labor market’s continued expansion provides little incentive for those contemplating a graduate business degree to spend the time and money to get one. Meanwhile, anti-immigration rhetoric and restrictive policies by the Trump administration are scaring off international students, a traditionally lucrative group that often pays full price rather than rely on scholarships.