Between admissions blogs and responses by admissions officers on message boards, the MBA admissions world is becoming increasingly transparent and helping to alleviate applicant anxiety. This week, the Stanford admissions committee proactively addressed the global economic fallout and its effects on the MBA job market, with a blog post entitled, “Will (the) economic downturn affect your job prospects?” Admissions committee member Katie Winkler interviewed Andy Chan, Assistant Dean and Director of the MBA Career Management Center, who advised candidates to “make their (application) decisions separate from what’s going on in the economy…because the economy is unpredictable and no one knows what the market will be like in two to three years.” Chan noted that following the bursting of the technology bubble 100% of Stanford MBA students received summer job offers.
Meanwhile, HBS Admissions Director, Dee Leopold blogged about the uncertain economy, as it pertains to international student loans. Leopold stated, “International students at HBS will continue to have access to need-based loans without needing to find a US co-signer.” She continued, “All students – both international and US citizens – will continue to be eligible for Harvard Business School fellowships – the money you don’t pay back. This year HBS will award $22 million in need-based fellowships; the average MBA fellowship is $25k per year.”