MBA Applications are Looking Up!
The Financial Times is reporting that several several top business schools are reporting double-digit increases in application volumes after several years of decline. INSEAD led the pack with an astounding 57% increase in applications.
On the one hand, b-school has always been counter cyclical. When the economy is doing well, applications decline. When the economy tanks, more applicants flock to the ‘safe harbor’ of business school. They complete their MBA and increase their skill set at a time of relatively low opportunity costs. They also anticipate the economy will be on an upturn when they graduate and they’ll be able to ‘ride that wave’ to employment in their dream sector — which oftentimes consists of a career change for them. (We don’t believe the extended deadlines and flexibility with the GMAT and GRE fueled the entire MBA application volume gain.)
If you’re one of the (presumably increased number of) MBA applicants targeting Fall 2021, be sure to carefully consider the b-school selection process. This is going to be a year to get an earlier start and strongly consider applying to some additional schools to give yourself the best admission chances.