{"id":6749,"date":"2011-03-28T14:52:29","date_gmt":"2011-03-28T22:52:29","guid":{"rendered":"https:\/\/gmatclub.com\/blog\/?p=6749"},"modified":"2011-03-28T14:53:18","modified_gmt":"2011-03-28T22:53:18","slug":"why-should-business-school-applicants-worry-about-the-economy","status":"publish","type":"post","link":"https:\/\/gmatclub.com\/blog\/why-should-business-school-applicants-worry-about-the-economy\/","title":{"rendered":"Why Should Business School Applicants Worry About the Economy?"},"content":{"rendered":"

The Graduate Management Admission Council (GMAC) recently released a new study of MBA applicants, taking a close look at who applies to MBA programs, when they typically apply, and their most common reasons for applying. While the whole report<\/a> (PDF) is worth a read,\u00a0 the particular finding that\u2019s generated the most headlines is the fact that just more than half of applicants stated that the state of the economy had no bearing on their decision to enroll in business school, while a little more than a third (36%) said that the soft economy increased their likelihood of pursuing an MBA.<\/p>\n

The headline that GMAC and most media outlets have promoted has been that first point \u2014 that half of applicants said the economy has had no impact on their plans. For the majority of them, applying to business school has been something they have been planning for a while. That the economy is good or bad makes their job easier or harder in the year they apply, but they were going to apply, anyway.<\/p>\n

Think of the entry-level analyst at an investment bank\u2026 Putting in his time, getting his ticket punched, knowing that he almost has to<\/em> leave in another year. He\u2019s been studying for the GMAT a few hours here, and few hours there, and this fall is when he is going to apply. If the economy suddenly comes roaring back, he could walk up and down Wall Street and find a job at another bank, but he knows what sort of life is in store for him if he doesn\u2019t pursue an MBA now. He\u2019s still going to apply.<\/p>\n

Or, the economy takes a dramatic turn for the worse and our fearless analyst suddenly has a lot more competition from displaced bankers. His ship is still sailing \u2014 he\u2019s still going to apply \u2014 but perhaps he\u2019s now tempted to take the GMAT <\/a>again to tack another 40 or so points on to his score, or he plans on applying to seven schools instead of\u00a0 just four, to be safe. Again, the macro climate certainly affects his plans, but not whether he applies or not. It does affect how<\/em> he goes about the application process, though.<\/p>\n

We\u2019d be interested in getting at that question more \u2014 not whether or not someone applied to business school <\/a>(or to law school, or medical school) because of the state of the economy, but how the economy affects someone\u2019s specific plans given that they\u2019re already going to apply.<\/p>\n

Ready to sign up for a GMAT course ? Enroll through GMAT Club and save up to $180 (use discount code GMATC10)! Take a look at our course options in some of our most popular cities: New York<\/a>, Chicago <\/a>and Los Angeles<\/a> and make sure to check the Veritas Prep blog<\/a> for daily articles.<\/p>\n

\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Graduate Management Admission Council (GMAC) recently released a new study of MBA applicants, taking a close look at who applies to MBA programs, when they typically apply, and their…<\/p>\n","protected":false},"author":101,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,1,243],"tags":[],"class_list":["post-6749","post","type-post","status-publish","format-standard","hentry","category-mba","category-uncategorized","category-blog","entry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/posts\/6749","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/users\/101"}],"replies":[{"embeddable":true,"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/comments?post=6749"}],"version-history":[{"count":2,"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/posts\/6749\/revisions"}],"predecessor-version":[{"id":6752,"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/posts\/6749\/revisions\/6752"}],"wp:attachment":[{"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/media?parent=6749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/categories?post=6749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/tags?post=6749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}