Less Competition for MBA Applicants
During the economic recession business schools saw applications to their two-year MBA programs increase, but the latest trend is pointing to the opposite. In fact, 21 of the top 30 full-time programs reported decreases in applications for their two-year MBA programs, according to Bloomberg Businessweek.
With MBA application volume down, competition also lessens
Sources point to the economy as the probable main culprit for the drop in B-school applications. In the Bloomberg Businessweek report, officials with the Graduate Management Admission Council indicated that the effects of economic insecurity could be ongoing and that people are nervous about leaving their jobs to return to school full-time. Similar to Bloomberg Businessweek's findings, the GMAC indicated that 67 percent of two-year full-time MBA programs had a drop in numbers as well.
Some business school officials could look upon this trend negatively, as their applicant pools arguably aren't as extensive. Applicants themselves, however, could have an easier time gaining entry into the top business schools of their choice if the number of competitors has decreased there. Consider that at the University of Minnesota's Carlson School of Business, more applicants were accepted in 2011 than in 2010, 41 percent and 30 percent, respectively. For more information on the breakdown of application trends at top MBA programs, look to the Bloomberg Businessweek article.
