US MBA Program Applications Drop 25-27% Due to Economic Concerns

• Applications to US MBA programs for the class of 2028 dropped 25-27% compared to last year.
• The decline is attributed to economic uncertainty and AI concerns among Gen Z.
• Data from the Graduate Management Admission Council (GMAC) shows the steepest drop in nearly a decade.
• This reverses two consecutive years of application growth.
• The drop affects full-time MBA programs entering this fall.