Alumni Stay Proud But Grow Distant As B-School Grads Demand More

Business school alumni remain proud of where they studied, but their connection to their former institutions is weakening across almost every measure, according to the latest Alumni Matters study from CarringtonCrisp, produced in association with EFMD.

The research, conducted among nearly 2,000 alumni from 41 countries, finds that just over three-quarters (76%) of respondents say they are proud to be associated with their business school, down from 84% in the previous year’s study. While the year-on-year samples are not identical, CarringtonCrisp says the consistency of the shifts across multiple indicators points to a real change in sentiment.

CONNECTION WEAKENS ACROSS THE BOARD

The research was carried out by CarringtonCrisp in association with EFMD among 1,873 alumni between September and December 2025. The largest groups of respondents came from Spain and the United Kingdom. Just over half (51%) were male and 48% female. 

The most interesting numbers: Only 63% of alumni consider themselves connected to their former business school and 58% engaged with it, compared with 70% in both categories in 2025. Two-thirds (66%) believe their school cares about its alumni, down from 76% a year earlier, and 61% say their school helps them maintain relationships with people they met through the program, against almost three-quarters (74%) last year.

The sharpest movement comes on money: Some 28% of alumni now say they would not support their school financially, more than double the 11% recorded in 2025.

“Business schools need to wake-up if they want to make the most of their alumni,” notes Andrew Crisp, author of the study. “Alumni appear to be getting more demanding and want real, practical value from their former institutions. If schools are unable to deliver that, connections can quickly weaken.”

WHAT ALUMNI WANT

Asked what would improve alumni services, respondents point first to networking. Nearly half (47%) want it made easier to connect with one another, closely followed by career development (46%), further learning opportunities (42%), more alumni events (41%), expanding global alumni activities (36%), and support for entrepreneurship and start-ups (33%).

The appetite for continued learning is one of the study’s strongest themes. Among alumni interested in further learning, 62% believe business schools should build programs specifically for graduates, while 60% want online access to lectures and other faculty content. Flexible formats lead the way: 43% would take short, non-degree executive education courses, and 38% would study for another full degree.

“Further learning and career support are two areas that are critical for alumni and are activities that business schools should be ideally placed to provide,” Crisp says. “Interestingly only 19% of respondents relayed that they would return to the institution where they previously studied for future learning. It underlines the highly competitive nature of the lifelong learning sector and the challenge facing business schools to meet both their own alumni demands as well as build new further learning programs for other audiences.”

AI SHARPENS CAREER DEMAND

The report ties much of that demand to artificial intelligence and the tougher entry-level job market facing recent graduates. Around six in 10 alumni want a jobs board where they can advertise opportunities and post their CV (62%) and easier access to career services (58%). 

Willingness to pay for that help, however, is sliding: only 34% say they would pay a small fee to access career services, down from 45% last year.

The cooling extends beyond money to how alumni are prepared to give their time. Around a third (32%) say they would not act as fundraising volunteers and 28% would not organize alumni events, both sharply higher than a year ago, when those figures stood at 17% and 16%, respectively.

DON’T MISS REPORT: ALUMNI CRAVE LIFELONG LEARNING, BUT FEW PLAN A RETURN TO B-SCHOOL

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