The number of MBA applicants to some of the country's top schools fell this year
The number of MBA applicants to some of the country's top schools fell this year
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MBA enrolment levels have fallen
Some of the most prominent MBA programmes in the US have registered a sharp drop or sluggish interest from prospective applicants this year following the 2020 admissions cycle, which saw a sharp rise in applications.
Kellogg School of Management Northwestern has reported a 20 per cent drop in MBA applicants for the coming autumn 2021. Columbia Business School reported a 6% drop, although applications were still higher than in 2019, when interest in many schools dropped during a red-hot job market.
Other elite MBA programs, which had counted on continued high interest, have had a relatively steady number of applications this year. The Wharton School at the University of Pennsylvania saw a 2% increase in applications, after rising 21% the previous year. Harvard Business School reported a 5% increase in applications, well below the predictions of many admissions experts.
Annual application volumes for MBA programmes are generally seen as an indication of the public's interest in pursuing a degree, which traditionally brings in big money for schools. The sudden downturn is putting pressure on a changing higher education industry that is already suffering from a pandemic.
According to deans and admissions coaches, several factors have made this fall less enticing than the fall of 2020. Among them, the financial and technology sectors have prospered, leaving many in the workforce.
MBA programmes, which made a one-off change to the application process during last year's admissions cycle, registered larger fluctuations in application volumes. Kellogg temporarily dropped the requirements for standardised tests at the start of the pandemic, which helped attract more applications last year, a spokeswoman said.
Also, Colombia extended the deadline for applications a year ago, but has reduced some recruitment efforts this year because of staffing shortages.
New York University's Stern School of Business and the Yale School of Management said their application numbers were up about 8% and 12% respectively.
Duke University's Fuqua School of Business was also helped by international students. The school reported a 12% increase in applications, largely thanks to people from India.
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