Life Lessons From A Stanford GSB Grad

Many highly ranked schools are expected to report double-digit declines in MBA applications this year

MBA Applications Decline May Be A Positive Thing

With MBA applications in decline, MBA applicants are at an advantage, experts say.

Seb Murray, of Find MBA, recently wrote an article discussing why the decline in MBA application has made it a “buyer’s market” for MBA degrees.

“It’s a buyer’s market for MBA applicants right now,” Chioma Isiadinso, founder and chief executive of admissions agency Expartus, tells Find MBA. “Strong candidates have more options given the decreased application volume and rising admission rates at the majority of top schools.”

DECLINE IN MBAs

For the second year in a row, top b-schools across the country have reported a decline in applications, according to Forbes.

“For the second consecutive year, the top ten schools all saw significant declines in applications,” William Boulding, dean of Duke University’s Fuqua School of Business, tells Forbes. “I have been hearing that some schools in the top ten are in double-digit territory so I think it is going to be worse than last year when all is said and done.”

But the decline in applicants, in turn, has made b-schools step up their efforts in recruitment.

“We have increased our events both domestically, internationally and virtually, in order to ensure that candidates know we are an open and welcoming community,” Shari Hubert, assistant dean for admissions at Duke University’s Fuqua School of Business, tells Find MBA. “We have also invested in providing more merit-based scholarships.”

GROWTH IN CAREER OUTCOMES

The decline in MBA applications has also increased the value companies place on MBA degree holders.

For example, at Stanford’s GSB, the average starting salary for MBAs is at $152,503 – a record-breaking number, according to Find MBA.

“The fact that MBA graduates are continuing to earn record high salaries affirms the value the market places on MBAs,” Isiadinso tells Find MBA. “As long as the salary data continues to be strong, the MBA will continue to be viewed as a great investment.”

Sources: Find MBA, Forbes

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