Survey: Business Alumni Want Lifelong Learning
Credit: SuitablyStudio / E+ / Getty Images- A new report from CarringtonCrisp found that about half of business school alumni want lifelong learning.
- This can take the form of short-term online credentials, which are increasingly popular at business schools.
- Despite interest in lifelong learning, few business graduates plan to return to their alma mater for further study.
- Business schools lend credibility to short-term credentials, report author Andrew Crisp said.
Business school graduates want lifelong learning but not necessarily from their alma mater.
The new Alumni Matters survey from the consulting firm CarringtonCrisp found that about half of the respondents, 46%, are seeking lifelong learning from the alumni relationship.
Despite that interest in lifelong learning, only 30% said they intend to return to their previous school for study. Compare that with 49% who are seeking informal learning opportunities with content from outside their business school or university.
And as to further qualifications that are likely to be of interest to alumni, postgraduate diplomas and certificates, nondegree executive education, and stackable credentials were all popular options alongside studying full time for another degree like a master’s of business administration (MBA).
The interest in lifelong learning and credentials points to shifting expectations for business school alumni, report co-author Andrew Crisp told BestColleges in an interview.
“I think the most important thing here is that the alumni relationship is transforming,” Crisp said. “Historically, from business schools, it was a largely fundraising one. Of course, there was a networking element to it, but now what we’re hearing is that the alumni want more.”
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That growing focus on lifelong learning and upskilling comes amid a growing skills gap in tech areas like data analytics, artificial intelligence (AI), and other high-demand topics.
“They recognize in their work that they perhaps have gaps in their skills, or there are not necessarily gaps even, but new things that are being required of them,” Crisp said. “And so the question is, where can they get that skill?”
As the workforce has embraced emerging tech topics like AI, so too have business schools.
A 2024 Graduate Management Admission Council survey indicated that the vast majority of business schools now offer some form of AI learning in their curricula.
That has taken the form of new MBA concentrations or entire degrees focused on AI, partnerships with AI companies, a focus on tech throughout schools’ curricula, and — importantly for students who are searching for upskilling after getting their degree — short-term credentials.
Short-Term Credentials on the Rise
Nondegree offerings for students are now ubiquitous in business education.
Some schools have integrated stackable, short-term credentials throughout their curricula. Other major institutions, including Harvard Business School, have launched both short- and mid-length credentials focusing on strategy and digital innovation.
Business schools aren’t alone in offering short-term credentials. Private companies and professional organizations have also launched online certificate programs aimed at working professionals in a bid to upskill workers and meet growing tech demands.
“The question is whether the school is in a position to deliver that,” Crisp said. “If it’s a business school and they’re asking for an IT (information technology) skill, maybe there’s a little bit of a mismatch there, and so then they end up going to a bootcamp or an online provider or elsewhere.”
Crisp said business schools can partner with other departments within their university, like computer science and data, to offer students and alumni forward-looking credentials that meet demand,
Business schools also need to be better about conveying the online credentials they already have to their alumni, Crisp said. He noted that there’s already trust built up between alumni and their business school, and employers likewise take stock in the name attached to a short-term credential.
“Employers are not necessarily certain what a microcredential is or a digital badge is, but they recognize the name of a business school or a university,” Crisp said.