My question:

Given the weakness in investment banking, hedge funds, and financial services in general, how do you react to applicants who say they want an MBA to enter IB, PE or a related field that has been devastated by the economic downturn? Is the reaction “What planet have you been on?” Or, are you willing to consider those applicants because you feel the market for these skills will come back in a couple of years?  Would you like to know that IB et.al. is the primary goal? Would you like to see a Plan B? Is your reaction different if the applicant is coming from IB or a related field as opposed to someone seeking the MBA to change careers?

Kellogg’s Assistant Dean & Director of Admissions and Financial Aid Beth Flye responds:

We certainly continue to consider applicants interested in these sectors within the financial services industry.  We do not expect an applicant to have a Plan B because of their interest in one of these areas, but we always encourage applicants to be as thorough as they can about their career goals and aspirations.  As for your last question, it truly depends on the entire application package and not just their interest in that particular field.