MBA News: Full-Time Business School Applications Still Down

Applications to full-time MBA programs appear to be continuing to drop, whereas applications to part-time and executive MBA programs remain the same and even rose slightly in some cases. According to an article in The Chronicle of Higher Education, this trend could be due to applicants’ reluctance to quit their jobs to go to school full time during this tough economic climate. A report by the Graduate Management Admission Council found that more than two-thirds of the participating two-year, full-time programs and more than one-half of the one-year programs reported a drop in applications from 2010 to 2011. On the other hand, 83% of master’s of finance programs, 69% of master’s of management programs and 51% of master’s of accounting programs actually saw a rise in applications. Why the difference? MBA programs typically accept people with a few years of work experience, whereas these specialized master’s programs tend to cater to recent college grads. With so few jobs available, those who have jobs want to hold on to them, while those who don’t are looking for a way to gain a competitive advantage by earning another degree.

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