The Financial Times has reported that there are a record number of students at top business schools this year and because of this, leading schools such as Wharton, Harvard and Stanford have increased their intake. Other top schools such as INSEAD plan to increase their intake during the coming year to allow for more successful applicants.
Due to the economic climate it was difficult for business schools to predict the number of MBA applicants this year. Some reports suggested that a recession was a good time for professionals to broaden their skills; on the other hand many argued that those who had a job would want to hold on to it. It seemed as though many people did use the recession as an opportunity to increase their skills by studying for an MBA and as a result top business schools increased their intake due to the number of talented and worthy applicants.
Despite the increase in the number of MBA students this year, it is still difficult to predict what will happen in the coming year. MBA students this year were likely to have begun their admission process in 2007-2008, before the economic downturn was a major global concern, so it may be that we will see the true influence of the recession during this coming year.
Other trends that the Financial Times reported are the increase in the number of women MBA students and the decrease in the number of international applicants applying to US Schools – many are now opting for schools in other parts of the world such as Europe and Asia.
To find out more please read the Financial Times article.
What does this mean for you?
Although many schools have increased their intake, this is due to the record number of able and skilful applicants so it is still very much a competitive process to secure your place. Top schools want top GMAT scores, so to increase your chances of getting into the school of your choice, ensure you prepare thoroughly for the GMAT and submit the very best application you can. Many business school deadlines are approaching so applicants should look at preparing for GMAT now before it is too late!