Businessweek recently reported that MBA applications are down at 21 of the top 30 full-time MBA programs as well as seven of the top 10 business schools. Read the full article. Here's what we think are the most important ideas:
- Stanford saw the biggest dip in application volume of the top 10 schools, with 586 fewer applications this year, an 8 percent decline from 2010.
- The smaller pipeline of MBA applications this year meant that getting into some of the top business schools has become easier.
- Two-thirds of the top 30 business schools admitted a larger percentage of applicants this year, up from one-third the year before.
- Not all business schools saw a decrease. Schools climbing the Financial Times list, such as Tuck and Darden, experienced an increase in applications, probably due to their increased popularities.
Our advice: Stronger candidates with better applications are likely to benefit from this climate. You should submit the best application you possible can. Don't try to use the statistics as an excuse to slack.
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