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($) OH NO! Bschools in trouble! (aka, Are MBA applications REALLY tanking?)

July 2, 2019 by EssaySnark - Discusses Harvard, Yale SOM Leave a Comment

Apparently it’s time for our “Is there a bubble?!?” post.

We write these every few years (2015 version: Our annual “bubble” post; 2014 version: The whole “MBA bubble” thing rises again; 2011 version: The cost of education/is there a bubble? 8-part series), because apparently it’s a cyclical trend. The media gets bored, or someone (usually an academic) gets ticked off at the fact that there are a bunch of MBA students pushing salaries higher in corporations everywhere (starting salaries of fresh-minted MBA grads are now higher than what many professors make at lower-tier schools) and we get another round of articles in business publications about the end of the MBA as we know it.

We shouldn’t get too cheeky, of course; it’s very possible that the bottom will fall out of this market, and then where would we be? With no MBA essays left to snark?

That definitely happened to law schools not even that long ago.

But despite what you may have read in the news, it doesn’t look like there’s risk of that happening for bschools anytime soon.

Part of the issue is when you hear about trends among business schools, they’re almost always being reported on across all business schools. You may not be aware of just how many business schools there are in this country. Like, thousands. We only talk about ~20 of them here, because the folks who wander into Snarkville are looking to go to one of the most prestigious, competitive, selective programs. The best of the best. The ones you need help in crafting a pitch to, because of how few they accept. We don’t waste your time talking about the essay questions for the University of Louisiana’s school of business because — no offense to Moody but — you don’t need the ‘Snark’s help getting in. It’s just not the same situation.

So when you get a headline from a reputable institution like Inside Higher Ed that applications to MBA programs in the U.S. are falling , well… Yes, that statement is true. But it’s not true at every school, especially not the schools that you care about, or not to the extent that they are saying.

How about some data:

HBS App Volumes

Or to put it differently:

We just randomly chose Yale as the second curve to include in that graph. It’s a good school that’s been on the upswing, and has fairly representative trendlines compared to its peers (which we would say roughly are places like MIT, Tuck, Columbia, and Duke, in terms of the competitiveness factor). As you can see, yes apps are down — but are they really DOWN?

As in, like down in the dumps?

No. They’ve only come off their recent highs.

So an easy takeaway message here folks:

No matter if you’re talking Harvard or Stanford, or some slightly less-competitive place, IT’S STILL REALLY EFFIN’ HARD TO GET IN.

 
 
 

Side note: Law schools may be in a recovery! Registrations for taking the LSAT have gone up. However, this also could be due to change in policy where test-takers can now cancel the LSAT score, which is new to this test. That change made a massive difference in the economy for GMAT tests and the apparently ceiling for scores. It would not be surprising though that the same politics that have made international MBA applicants shy away from coming to the U.S. has also motivated a new crop of applicants to try for law school. To, you know, go into politics or something, and make a difference. If you’re really feeling motivated to make some change happen in this country, law school might be a better place to be.

Filed Under: law, the admissions consulting industry Tagged With: trends Bschools: Harvard, Yale SOM

« Previous: ($) Speaking about values: What is the Behavioral Assessment at Yale and should you be scared?
Next: ($) MBA app volumes and you »

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Sometimes amused and often appalled by what candidates write in their MBA applications to top bschools, EssaySnark created this little blahg to share common mistakes. Learn from them and avoid making admissions directors laugh (or want to hurl) when they read your essays. If you are hoping to have your essay reviewed anonymously on the blahg for free, submit it for consideration.

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From a BSer January 2020:
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CLASS OF 2023 MBA APPLICATION STRATEGY GUIDES

     
    The 2020 Berkeley-Haas MBA Application Guide - updated for the Class of 2023 application!
SnarkStrategies Guide for Berkeley Haas - refreshed and updated, with brainstorming exercises and structured maps to help you focus your stories!
   
    The 2020-2021 NYU Stern MBA Application Guide that covers the main essay, the EQ Endorsement and Pick Six!
SnarkStrategies Guide for NYU - discusses your requirements for the Class of 2023 essays!
   
    The 2020-2021 Columbia MBA Application Guide
SnarkStrategies Guide for Columbia Business School for 2020-2021 applications
   
    The 2020 Harvard MBA Application Guide - completely overhauled and updated for the coronavirus era!
SnarkStrategies Guide for Harvard Business School!
   
    The 2020-2021 Duke Essay Guide - covers the 25 Random Things essay and all the rest too!
SnarkStrategies Guide for Duke Fuqua - up to date for the current season!
   
    The 2020-2021 MIT Essay Guide covers the org chart, the contacts for two references, and additional tips for the cover letter and 'introduce yourself' video -- and everything else you need to know!
SnarkStrategies Guide for MIT Sloan MBA - totally revised for the Class of 2023!
   
    The 2020-2021 Tuck Essay Guide has been refreshed with latest insights and advice for your essays about "investing generously" and "why Tuck"!
SnarkStrategies Guide for the Dartmouth Tuck MBA - completely overhauled for 2020, to help you demonstrate how you are nice, aware, etc stuff!
   
    The Yale SOM MBA Application Guide for Class of 2023 candidates!
SnarkStrategies Guide for Yale SOM - updated for 2020-2021
   
    The 2020-2021 Chicago Booth MBA Application Guide - ready to go to support your Class of 2023 essay strategy!
SnarkStrategies Guide for Chicago Booth for this year's MBA app!
   
    The 2020 Wharton MBA Application Guide - even more advice on how to get to a win with those essays!
SnarkStrategies Guide for The Wharton School - with new tips for 2020!
   
    The 2020 Kellogg Essay Guide - with a full methodology to identify your 'lasting impact' and your 'values' -- plus tips on 2020 world events and applicability to your essays!
SnarkStrategies Guide for Kellogg MBA - updated and revised for the new realities of 2020!    
      The 2020 Stanford MBA Application Guide - for "what matters most" in your MBA application!
SnarkStrategies Guide for Stanford GSB for the Class of 2023
   
    The 2020-2021 UCLA Anderson MBA Application Guide - updated for Class of 2023 on "impact"!
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UCLA
   
   

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What were we snarking about at this time in past years?

  • 2020: Becoming your future self
  • 2019: What's going on with Fuqua?
  • 2019: ($) What we've seen with a few "bad MBA interview" situations
  • 2018: Good luck today if you're hoping for Harvard!
  • 2018: Just a reminder...
  • 2017: Just in case you are growing impatient....
  • 2017: What matters most is integrity.
  • 2016: Preparing for bschool (and interviews, and sorta life in general)
  • 2014: Now that your apps are in: Who had the best essay questions?
  • 2013: And the award for Worst MBA Essays goes to...
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