Four months ago I wrote an article for Forbes predicting a sharp downturn in MBA applications, and why now might be your best chance in a generation to get an elite MBA and secure your place at one of the world’s leading business schools.
Since then, HBS has confirmed a 15.4% decline in MBA applications for the Class of 2024, and Wharton received more than 1,000 fewer applications as part of a 13.9% slump. Many other top schools have indicated a drop of between 5 and 20%.
As a consequence, the acceptance rate to the M7 schools has jumped – close to 1 in 4 applicants to Columbia were offered a place. So this really is the best chance in a generation to get an elite MBA.
However, the Forbes article also reflected on a big unknown. Would the moves of the US Federal Reserve and central banks of other countries be a catalyst for a recession? The plunging financial markets seem to think so.
My co-directors at Fortuna Admissions, Judith Silverman Hodara (former Admissions Director at Wharton) and Caroline Diarte Edwards (former Admissions Director at #INSEAD) shared their perspectives on the typical MBA counter-cycle – when the economy tanks, people figure it is a great time to go back to school.
So the upcoming CentreCourt MBA Festival, which I am co-hosting on Oct 4, 5 & 6 with John A. Byrne and the team at Poets&Quants, is a fantastic opportunity to meet the gatekeepers, career makers, and students/alumni of the world’s best MBA programs.
As the NASDAQ, S&P and other stock markets reminded us last week, the best investment you can ever make is in yourself. So register your place at CentreCourt MBA Festival to find out if now is the right time for you to head to business school.
Want More Advice?
Read my recent article in Forbes, Why Now Is Your Best Chance In A Generation To Get An Elite MBA.
Let’s Get You In.
Fortuna Admissions is a dream team of former MBA Admissions Directors and Officers from 18 of the top 20 business schools. My Fortuna Admissions colleague and I are passionate and skilled at helping candidates achieve admissions success at the MBA programs of their dreams (see what candidates are saying about us in P&Q’s recent feature, Most Favorably Reviewed MBA Admission Consulting Firms). We work closely with you throughout the application process and provide expert guidance at every stage to maximize your chances of admission to a top school.
Our free consultations are consistently rated as the best in the industry. For more advice, and a candid and personal, candid assessment of your chances, sign up for a free consultation.
Fortuna Admissions Co-Founder and Director Matt Symonds is Business education industry expert and columnist for Forbes, The Economist, BusinessWeek, the BBC, among other publications. For more free advice and a personal, candid assessment of your chances, you can sign up now for a free consultation.