Last week BusinessWeek added to the chatter about the slowing economy driving another big increase in business school applications. Nothing new there, although the article included one interesting point regarding lower-ranked MBA programs:
While applications are up across the board, the middle-tier business schools are reporting some of the sharpest increases, ranging from 25% to nearly 40% in the number of applications in some instances. At least some of the students are heading to business schools because they have lost their jobs or are worried about the future. Admissions officers said that they expect more of those students, including those who may have waited to see how the economy fares, to apply during the coming cycle.
The upshot is that applicants who have assumed they can get into a top-30 school for sure — as a backup if they can’t get into a top-10 school — may need to rethink that assumption. If you expect that your credentials will make you far from a shoo-in at a top school, and you plan on casting a wide net and applying to some lower-ranked business schools, be ready to work hard to get into those “safety” schools.
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