The Alumni Matters Survey, coordinated by education marketing specialists Carrington Crisp in association with the European Foundation for Management Development (EFMD), surveyed 2,130 alumni from 87 countries about their relationships with business schools and experiences since graduating.
The survey found 46% of graduates recognized that further study may be necessary for future career advancement, while 70% felt that business schools should create courses for alumni to help with future development.
Almost two-thirds (64%) said they would like access to online content for alumni, and 61% believed that business schools should offer graduates preferential rates for further study.
Around half (51%) of respondents would be interested in studying full-time for another degree, such as an MBA, EMBA, or other business masters, the survey revealed. A further 42% of alumni also had interest in studying part-time for a degree.
Why are lifelong learning opportunities important?
As the global job market changes, alumni are increasingly viewing education as a continuous journey, rather than a path that ends after leaving university.
Andrew Crisp, the author of the Alumni Matters survey, credited the quickly changing job market to technological, economic and societal factors.
“Having several different careers is becoming the norm, and it is why alumni are looking to their business schools for help to get up-to-date skills, knowledge, and experience,” he said.
“It’s an open door for business schools who can adapt their learning and career support, and generate greater alumni engagement with all the benefits that can bring,” he added.
However, only 30% of alumni said they intended to return to their previous school for further learning opportunities, and 49% said they were seeking informal learning opportunities via content sourced outside their business school. Though, one-third (33%) of those surveyed said they were interested in studying with partners who they had been introduced to through their business school.
“Lifelong learning is one of the priorities for alumni and there is a clear indication that they expect favorable rates and access from their business schools,” Crisp added. “This presents an opportunity for business schools to develop partnerships with other providers to offer further learning options for their alumni.”
What do lifelong learning opportunities look like?
When asked what lifelong learning options might look like, respondents primarily showed interested in business schools creating programs for alumni and providing online access to faculty content. More than half of those surveyed also showed desire for schools to provide alumni with discounts for further learning opportunities.
The survey also highlighted the importance of technology for the business school alumni experience in the aftermath of the Covid pandemic, with many interactions between business schools and graduates remaining online post-pandemic.
Technology was therefore important to alumni in terms of future learning opportunities. Studying entirely online or in a blended format appealed to 51% of those surveyed, while only 33% said they would prefer studying face-to-face on campus.
Online webinars and industry-specific events were also of interest to alumni, with 60% saying better use should be made of technology to facilitate connections among schools’ alumni networks.
