An article in The Wall Street Journal reports that according to GMAC data, this year showed a 10% decrease in the number of applications to full-time MBA programs. This is the third consecutive year in which a decrease has been recorded. According to the report, a third of the 331 business schools surveyed reported a decrease over 10%.
One obvious explanation for the decrease is the global economic situation and uncertainty about the future. Fewer candidates apply to business school since they are unsure of the return on their investment. A decrease of 4% has even been shown at Harvard which received 9,134 applications this year, what contributed to an increased acceptance rate from 11% to 12%.
Despite the decrease in number of applications, business schools report an increase in the quality of applicants in terms of GMAT scores, GPAs, and career experience.
In terms of the future, since this year showed an increase in GMAT test-takers, an increase in applications is expected for next year…