Are any of you planning to apply to MBA programs this coming fall? I’ve been seeing more positions where an MBA is recommended or required, and with the current job market condition, it seems like the right time to apply. Unfortunately, I’m not alone. What are your estimates on the application increases the top schools will receive this fall? I’ve been hearing random figures between 20-40%, depending upon who I ask. It will certainly be more competitive, but I wonder whether career changers will be scared away from business/finance and seek other options. Your thoughts?
I anticipate applying to business school during the fall of next year. I understand why more people might want to apply when the economy isn’t so great, but why should the potential rise in applications make any difference? If your goal is to attend school, shouldn’t you do whatever it takes to get admitted, irrespective of the applicant pool?
Yeah, I don’t think there is anything to gain by waiting. I applied last year, when apps were up 30%. The year before, it was something like +20%. I don’t think you’ll see them falling until about 2 years after the economy takes off.
agreed. go when it makes sense to go. if deserve to be there, you’ll get in. worry more about the merits of your own application than whether or not its better than someone else’s.
I’d guess the would be up 40%. Apps were up about 30%+ in the Fall 2001.
^ Are you related to Dan Loeb or just a wannabe HF bada$$?
Anyone know why when you scan the message boards, almost 50% of all MBA applicants seem to be Indians with 720+ GMATs that work in IT? I’m not saying whether this is good or bad…but it’s certainly interesting.
way to blanket stereotype people!!
I decided to apply either way. I was just curious whether some of you were also planning to apply, and how you thought the application numbers would be affected by the economy. I was reading through a couple admissions threads over at the BW forums, and the posts were strikingly similar to the CFA results threads here.
What are the BW forums? Also, maybe this is just my own mentality, but whenever I have applied for anything, be it a job, college or whatever…if I made a serious attempt to apply, it’s because I really truly believed that I had a legitimate shot. I never thought about what acceptance rates, quotas, or cutoffs were, because I feel like that would just psyche myself out. Rather, if I make a serious commitment to doing whatever it is that I’m doing and not worry about what anyone else does, because I believe the results will generally turn out favorably if I just stay focused.
numi Wrote: ------------------------------------------------------- > What are the BW forums? > Also, maybe this is just my own mentality, but > whenever I have applied for anything, be it a job, > college or whatever…if I made a serious attempt > to apply, it’s because I really truly believed > that I had a legitimate shot. I never thought > about what acceptance rates, quotas, or cutoffs > were, because I feel like that would just psyche > myself out. Rather, if I make a serious commitment > to doing whatever it is that I’m doing and not > worry about what anyone else does, because I > believe the results will generally turn out > favorably if I just stay focused. You make a compelling argument. It reminds me of what my dad always used to tell me before golf matches: don’t worry about anybody else…just play your game.
while optimisting thinking helps no doubt, one needs to do a reality check…If an option exists between going to MBA school this fall versus next fall or two years from now, there is no doubt that you are better off not applying this year because of the tremendous increase in applications…My cousins wife works in the application process at Wharton and she told me this time around the increase in applications there is close to 50%, which is HUGE! So, if you dont ahve flexibility, this apply by all means this year…Plus you cannot take away that another year of work experience can only help… Of course, all that I ahve said is keeping a top 10 target school in mind… I am applying to MBA school next fall with 2 years work exp.
I would think most of the new applicants would be people who were recently laid off or could not find a good job. That seems to partially offset the increase since this pool would (presumably) be less competitive than the people who stayed employed. Just a thought.
numi Wrote: ------------------------------------------------------- > I anticipate applying to business school during > the fall of next year. I understand why more > people might want to apply when the economy isn’t > so great, but why should the potential rise in > applications make any difference? If your goal is > to attend school, shouldn’t you do whatever it > takes to get admitted, irrespective of the > applicant pool? I too am going to apply for fall of '09 and agree with Numi’s sentiment regarding ignoring the increase in competition. If your trying to go to b-school now because the economy sucks, you’ll have a lot of trouble telling the story you need to tell to get into a top school… Getting in is about a lot more than statistics, so I don’t think you should get scared about the increase in apps. Focus on how well you compliment the student body at H/S/W, not on how your GMAT stacks up against the increasing number of applicants…
This is what I could concur after discussing with the HBS-Alumni-Panelist IT + Consulting + n-yrs of experience = Sterotype1 Bachelors + Masters + I-banking = Sterotype2 Both are sure to get eliminated, since they don’t add the much needed ‘diversity’ H/W/S are looking for…
You have to look at the competition and the past class profiles. It’s not a “play your own game.” I’m not saying you should try to time the market and go when the applicant pool will be less competitive, but you should look at your profile and compare it to past classes and future applicants. If you have a 510 and expect to “play your own game” and apply to Stanford, then you’re fooling your self.
homie Wrote: ------------------------------------------------------- > You have to look at the competition and the past > class profiles. It’s not a “play your own game.” > > I’m not saying you should try to time the market > and go when the applicant pool will be less > competitive, but you should look at your profile > and compare it to past classes and future > applicants. > > If you have a 510 and expect to “play your own > game” and apply to Stanford, then you’re fooling > your self. true, but having a 690 doesn’t ding you either… In the end there are quite a few immeasurable parts of your application that cannot be judged without reading all of the applications. I’m not trying to say that everyone can get in to a Stanford, I’m just saying that there’s no way to be able to judge the other stories out there, so you really kind of have to play your own game…
homie Wrote: ------------------------------------------------------- > You have to look at the competition and the past > class profiles. It’s not a “play your own game.” > > I’m not saying you should try to time the market > and go when the applicant pool will be less > competitive, but you should look at your profile > and compare it to past classes and future > applicants. > > If you have a 510 and expect to “play your own > game” and apply to Stanford, then you’re fooling > your self. true, but having a 690 doesn’t ding you either… In the end there are quite a few immeasurable parts of your application that cannot be judged without reading all of the applications. I’m not trying to say that everyone can get in to a Stanford, I’m just saying that there’s no way to be able to judge the other stories out there, so you really kind of have to play your own game…
dinesh - I was unaware that most of the ibankers applying to MBA programs already had Master’s degrees. I was under the impression that the 2nd stereotype you mentioned would be more along the lines of ivy (or equivalent) under grad + 2-4 years banking exp. I’m also assuming that stereotype #2 gets more admits than #1 as well.
dinesh.sundrani Wrote: ------------------------------------------------------- > This is what I could concur after discussing with > the HBS-Alumni-Panelist > > IT + Consulting + n-yrs of experience = > Sterotype1 > Bachelors + Masters + I-banking = Sterotype2 > > Both are sure to get eliminated, since they don’t > add the much needed ‘diversity’ H/W/S are looking > for… I don’t think that many people in IB have masters degrees. The big 4 groups are: Consulting, Engineering, Finance, and IT. So it may be harder to get in if you’re from one of these groups, but you just have to distinguish yourself in other ways, whether through interesting extracurriculars, travel, etc.