I have decided to make April 1, known as April Fool's Day in the United States, the day I go public with my predictions for the next application season. If I'm wrong, it will be my April Fool's Day post. If I'm right, I can still be a wise pundit.
Here's what I foresee for 2010 applicants to the large professional categories:
- MBA applicants applying from abroad, particularly Europe and countries that don't send a lot of applicants to US b-schools, will probably face reduced competition. Application volume will decline for these sub-groups because of concerns about financing and even more serious concerns about post-MBA opportunities in the US, especially in banking. Domestic full-time application volume will follow hiring news for the class of 2009. If large numbers of 2009 grads are unemployed when they graduate, application volume will decline. If 2009 MBA grads find jobs, even if salaries decline modestly, domestic application volume will remain steady and may even increase slightly.
- Medical school application volume will continue to climb and will probably outpace the increasing number of spots in medical schools. I foresee declining acceptance rates. Look for Friday's post for one possible response to increasing difficulty in gaining acceptance to US allopathic medical schools.
- Law school application volume will decline. Law firms are bleeding jobs, and first year associate salaries have declined.
For last year's April Fool's Day post and predictions, click on the link.