Top business schools are reporting application declines for their full-time MBA programs. These schools include NYU’s Stern School of Business and Columbia Business School, as well as about a dozen more from the nation’s top 30 B-schools, according to a Bloomberg Businessweek report.
Here are some B-schools that had it bad recently, with their percentages of decline on the right:
Indiana U’s Kelley School of Business – almost 21%
Michigan State’s Broad College of Business – 18%
Yale School of Management – 9.5%
Duke’s Fuqua School of business – 7%
University of Chicago’s Booth School of Business – 3.5%
Kelley School’s admissions and financial aid senior associate director, Timothy Smith, points to tougher competition from rival business schools as cause of decline. Online and part-time programs also contribute to the drop. Also, it looks like second-tier B-schools are offering attractive financial aid packages. Some of them are even experiencing applications increase. For example, the B-school at Southern Methodist University experienced a 6% increase this year.
Getting into a top B-school is no longer as competitive these days. Several schools are giving out more acceptance letters than they would in normal circumstances, even accepting students that had not listed them as top choice schools. This time around, B-schools are the ones competing for applications. Because of competition and lower yields, some B-schools went as far as recruiting from far-off places, such as Latin America and Asia (source PhDify.com)