B-Schools Must Evolve for Future Business Demands, Employers Say

MBA programs have traditionally been the finishing school for ambitious students, who hand over $100,000 for a year or two of studies that promise to jump-start high-paying careers. That venerable formula is showing signs of strain, according to executive education consultants CarringtonCrisp in London.

The company surveyed 508 employers from 22 countries this year and found that 77% believe the MBA needs some form of makeover. Since the 2008 financial crisis, companies and B-schools have drifted apart, says Andrew Crisp, co-founder of CarringtonCrisp. The coronavirus pandemic has exacerbated the disparity by spurring shifts in the economy and the way we work. “There’s this mismatch between what employers are looking for and what many of the business schools are offering,” he says.