P&Q’s MBA Admissions Director Of The Year For 2023: Cornell Johnson’s Eddie Asbie

MBA applications were down 5% worldwide in the 2022-2023 cycle, according to the Graduate Management Admission Council. At many elite business schools in the United States and Europe, they were down much more. Yet in a year when app volume collapsed at several of its peer schools, Cornell’s Johnson School maintained the gains it had made in recent years: Apps in the last cycle declined at Cornell by exactly one, from 2,555 to 2,554.

What’s the school’s secret? Eddie Asbie isn’t telling.

“I don’t know if I want to tell the secret,” he says, laughing. “I think one, when we’re able to talk about some of the changes and some of the unique things that we’re doing within our curriculum, that has had an amazing effect. I’m thinking about Cornell Tech and that offering to our two-year students, whether it’s the 1+1 Program, the intensives, you name it. One of the big selling points in our program and our curriculum is the addition of a management consulting immersion.

“But over the years, and especially this year, the difference is having a community that truly believes in the school. Our students and our alums have stepped up to really sell and really tell about the program and what the community has to offer. They have been a huge part of what yield looks like for us and really being able to convert. If you haven’t come to visit Ithaca, it can be a culture shock for some — but it can also be a life-changing experience. And that’s what happens. I think there’re a lot of candidates who say, ‘You know what, I’m not sure yet.’ But when they talk to the students, they’re able to see actionable things that we are doing in our community.

“When we talk about diversity and inclusion, what does that mean? When our students in our community are able to talk about, ‘Okay, these are the initiatives that we have in place, this is how we’ve grown our population of women or our underrepresented population, this is where people are going, this is what placement looks like’ — I think all this has candidates really saying, ‘Let me think a little bit more about Cornell and why this is a program that I should really consider.’ I think what happens is, once people start learning more, and once candidates actually come to visit, they’re sold on the program.”

REASONS FOR THE MBA APPLICATION DOWNTURN

Asbie knows as well as anyone in MBA admissions why applications have trended downward: Prospective applicants are, more and more, questioning the degree’s value proposition.

“I think it’s a few things,” he says. “I think one is cost. An MBA is very expensive. I still believe in the value of the MBA, but I think cost is a deterrent for many. And I think that candidates, this generation in particular, are really aware of the cost.”

Choice is another factor. “Whether it is reading Poets&Quants, whether it’s just communications that I get here at Cornell or being on listers for other schools, I feel like there are also a lot of specialized master’s and other programs that continuously pop up — whether it’s a full-time, in-person opportunity, whether it’s online. That’s one of the things that we’ve seen over the years, that there are many different options, so candidates are really weighing a two-year MBA and quitting their job versus doing a one-year program or maybe an online program.”

Conversations he’s had with candidates have trended in the direction of security, Asbie adds.

“Candidates, especially during the pandemic and right after the pandemic talked a lot about staying within the workforce and how their employers were trying to retain them in promotions and salaries or giving them the title that you were looking for, and maybe that was something they had initially said in their application was a reason for getting an MBA. So there were incentives that way.”

CORNELL’S SUCCESSFUL RESPONSE TO THE APP DOWNTURN 

Even amid the domestic downturn, Cornell has been the envy of its peer schools in maintaining a high volume of MBA applications. How? In part by turning to populations that have historically been underrepresented in graduate business education — and in part by adroitly responding to the pressures of what is now effectively a never-ending application cycle.

“When I think about our underrepresented populations, I think, one, we have great partnerships with various organizations: the Consortium, Management Leadership for Tomorrow,” Asbie says. “And we have really tried to identify various ways of reaching out to these candidates in advance. There are some great partnerships where we try to get in front of candidates, at least just to introduce ourselves.

“I think that, too, the application cycle continues to move up earlier and earlier. Ten years ago, five years ago, people would say that you probably started recruiting in late summer-ish. And now those touch points are happening a lot earlier. But also we’re trying to think of different ways to reach people. Covid made things easier in a big way by making things virtual. We do a combination of things, where it’s virtual sessions with admissions.”

There are also times when he and his team take a step back and let others take the lead in selling the school.

“There are times where our student clubs and organizations are like, ‘Let us handle this,'” Asbie says. “No admissions in there. Same thing with the alumni, and our faculty have done a lot of additional outreach. So whether you are a prospective candidate attending one of our hosting events, whether you have been admitted, we’re making sure that there are multiple different touch points. And I really do think that word of mouth has helped.”

ASBIE’S VIEW OF ENTRANCE EXAMS: NOT FOR EVERYBODY

Cornell is also one of the leading U.S. business schools that made test waivers available beginning in the coronavirus pandemic and continuing beyond it, de-prioritizing the Graduate Management Admission Test and the Graduate Record Exam in favor of other metrics and intangibles.

“I’m sure that probably has played a part in some candidates coming to us,” Asbie says, adding that most applicants in the last few cycles have submitted GMAT or GRE scores, despite the availability of waivers. “I will say that for the test itself, I do think that it adds value and is a good data point in the MBA process. But I also believe that it is not for everybody — and I think there are candidates out there who really can demonstrate strong academics, strong quantitative experience, without the tests. We’re seeing it in the program, where our students are doing well.

“Do we get it right every time? No, we don’t. But there’s a lot that we see. When you see someone who’s coming from a competitive school, they’re coming from a competitive major, consistency with their grades, certifications that they have — whether they have a test or not, well, maybe not everyone’s the best test-taker.
They can come in here to our program and do well.

“I think, overall, we just have a very competitive applicant pool out there. But also I believe that especially those that don’t come from a quantitative background and they’re really trying to show that they can handle the rigor of the program, the test is probably best for that type of applicant. I tell candidates all the time, you know what your strengths and weaknesses are, and as a candidate, it’s your responsibility to really be able to present the best package possible.”

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