If you’re one of Moynihan’s mini-mistmakers and a slowdown in staffing, dwindling office supplies and your MD’s refusal to make eye contact have left you convinced that you’re among the 10,000/40,000/30,000 people whose brief yet brilliant tenure at Old BAC will soon be toasted over rounds at Phil’s Tavern, you may already be thinking about your next move. And it may have occurred to you that dropping a few hundred grand for two years of team building exercises, team learning projects, team drinking challenges, and individual scamming on undergraduates might be preferable to finding another job in banking / moving back in with your parents. Well, good news: no one else has thought of that yet.
Applications for two-year, full-time M.B.A. programs that start this fall dropped an average of 9.9% from a year earlier, according to new data from the Graduate Management Admission Council, which administers the Graduate Management Admission Test. The decline marks the third year in a row that applications have fallen. …
Historically, interest in graduate school has increased when the job market soured, but the prolonged uncertainty about future growth has discouraged some prospective M.B.A. applicants.
This does not, however, mean that coasting your way into b-school will be as easy as crushing the CFA Level I without studying (which is totally easy, right?). Numbers may be down, but you’ll still need to brush up your Twitter skills if you want to compete with this leaner but more intense pool of MBA candidates.
But even though M.B.A. application volume has slumped, most schools report the quality of candidates, based on their GMAT scores, undergraduate transcripts and work experience, is getting stronger. "You're not getting applications from those who aren't serious," said Dave Wilson, chief executive of GMAC.