MBA News: Low Dollar Driving Applications?
July 7th, 2008
In an article in today’s Financial Times, (“Falling Dollar Draws Students”) Rebecca Knight discusses the implications of a weakening dollar on MBA application volume. Knight notes that as the dollar has depreciated against the Euro and Chinese Renminbi (not to forget the Canadian Dollar, Israeli Shekel and more), GMAC has seen a 21% rise in international test-takers. The FT cited Cornell as an example of a program that has seen a dramatic increase in international application volume – thirty one percent! While the story of surging application volumes is not “news” to most, candidates seem narrowly focused on the aspect of it that pertains to layoffs on Wall Street. Layoffs will certainly be a factor this year, but the weakening dollar and continued strength of emerging markets, combined with a broader willingness to embrace younger applicants, should make this year a particularly competitive one.
