Another indication that the U.S. economy is growing strongly: applications to MBA programs are down about 15 to 25%.
May 24, 2004
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» B-School Value from just procrastinating
B-School Value
Craig Newmark at Newmark's Door recently posted that applications to B-Schools are down 15-20% this year and took that as an indication that the economy is growing, because people stick with their jobs and decide to put off grad school.... [Read More]
» MBAs Down, Economy Up from Business Opportunities Weblog
Newmark's Door: "Another indication that the U.S. economy is growing strongly: applications to MBA programs are down about 15 to 25%."... [Read More]
» Encouraging Indicator from Priorities & Frivolities
Two years ago, when I considered whether to pursue a master's degree, a friend observed that many college graduates were heading straight to business school.... [Read More]
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This article misses some important phenomena:
1. When new MBAs were starting to receive great job offers, right out of school, many schools raised the tuition; incoming students didn't mind paying big bucks for the schools because they expected to get great jobs after graduation.
2. about two or three years ago, some graduate MBAs discovered that they weren't guaranteed good, high-paying jobs, after graduation.
3. Last year, as grads went through convocation, instead of having job offers they were excited about, the good ones had a few job interviews.
4. So applicants said, "Why pay the big bucks if it won't get me anything?"
5. Conclusion: the decline in applications is probably a delayed response to the combination of high tuition and a bad market for new MBAs.
Posted by: John Palmer | May 24, 2004 at 08:50 AM