An MBA has been a hot commodity in the past, but a recent spike in applications suggests the degree is even more sought after now. In fact, a survey conducted by the Graduate Management Admission Council reveals that two-year, full-time programs across the world have seen more applicants in 2015 than since 2009, the height of the economic crisis. The spike in applications could reflect the fact that those who graduated from college during the recession are now prime business school candidates, mbaMission Founder and President Jeremy Shinewald commented to the Wall Street Journal. Those graduates may be seeking out MBA degrees as a form of both financial and psychological insurance, Shinewald suggests in the article.
Indeed, many admissions committees at top-ranked business schools have plowed through more applications recently than usual. The Yale School of Management, for example, received 25% more applications for its incoming class in 2015 compared to 2014. The growth was more modest at some schools—Harvard Business School saw an increase of 1.5%—but the nearly 16% growth at the University of Chicago Booth School of Business was not uncommon.