I dont go to an M7, so my opinion may not count for much on this thread.
Recruiting is very tough for anyone who is even slightly unfocused in his/her efforts. This is true in any year, but this year the process is going to be brutal on anyone who has NOT done research/networking from day 1 of B-school. In other words, in previos years you could change your mind 3 times during the 1st year and still end up with an offer you want. Now, unless you were able to determine a career focus and do whats required for that career from almost day 1 of B-school, a tough time awaits you.
Consulting and IB has been hit badly, but that is hardly a secret and no school needs to cover this up by "instructing" its students. International students are affected mainly by the visa situation, but thats got nothing to do with the economy. Loans are a big problem, but that again has nothing to do with which company recruits on-campus. The situation is bad, but not insurmountable and people need to work harder this year than before. But, I dont subscribe to the conspiracy theory. We dont live in a bubble...Believe me, most people here at Ross dont have that attitude.
- From someone who just landed his 1st offer in the 1st week of school after the break.
Great insight ncp! and congrats on your offer