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01 Jan 2010, 19:29
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gotcha Architect. any ideas why the volume is down? is it because the ranking dropped due to IB / IM placements?[/quote]
I'm certainly no expert, but if I had to field a guess, I would say it has nothing to do with rankings. From year to year, schools tend to move up or down a little depending on who you poll... I don't believe being ranked #11 vs. #16 matters much in the long run when you are talking about a reputable school like Johnson (those are just random numbers I picked for the sake of example, I'm not quoting any particular ranking authority). Regarding current application volume, all I have heard so far is anecdotal evidence, nothing with any numbers to back it up. I don't believe that application volume is lower at just Cornell... I think it's the case at all or most of the first and second tier B-schools. I am guessing that international applications are WAY down, as funding for international students is much harder to come by now. Not sure about domestic applications, but I could imagine a scenario in which the domestic applicant volume would be a little lower because US firms have actually started hiring again... yes, US unemployment is still at 10%, but it seems that the 'professional' sectors have really picked back up, and the masses of currently unemployed people are generally now those with less education (such as manufacturing and service employees). Again, totally anecdotal... but, I know a LOT of people who were laid off late 2008 and early 2009 (in a range of industries, from banking to dot-com to architecture), and most of them spent all summer unemployed but have gotten good jobs again just in the past couple of months.[/quote]
"reputable school like Johnson"
Don't rankings determine reputation? Stable top 10 rankings mean a lot...One reason applications are down is because the '09 class wasn't placed well and the word on the street has spread...Why spend a full MBA tuition for Johnson when it's careers services doesn't work?
I'm certainly no expert, but if I had to field a guess, I would say it has nothing to do with rankings. From year to year, schools tend to move up or down a little depending on who you poll... I don't believe being ranked #11 vs. #16 matters much in the long run when you are talking about a reputable school like Johnson (those are just random numbers I picked for the sake of example, I'm not quoting any particular ranking authority). Regarding current application volume, all I have heard so far is anecdotal evidence, nothing with any numbers to back it up. I don't believe that application volume is lower at just Cornell... I think it's the case at all or most of the first and second tier B-schools. I am guessing that international applications are WAY down, as funding for international students is much harder to come by now. Not sure about domestic applications, but I could imagine a scenario in which the domestic applicant volume would be a little lower because US firms have actually started hiring again... yes, US unemployment is still at 10%, but it seems that the 'professional' sectors have really picked back up, and the masses of currently unemployed people are generally now those with less education (such as manufacturing and service employees). Again, totally anecdotal... but, I know a LOT of people who were laid off late 2008 and early 2009 (in a range of industries, from banking to dot-com to architecture), and most of them spent all summer unemployed but have gotten good jobs again just in the past couple of months.[/quote]
"reputable school like Johnson"
Don't rankings determine reputation? Stable top 10 rankings mean a lot...One reason applications are down is because the '09 class wasn't placed well and the word on the street has spread...Why spend a full MBA tuition for Johnson when it's careers services doesn't work?
01 Jan 2010, 22:27
Kudos
Bookmarks
I have to mostly agree with you. I would like to add the following reasons:
1)International applicants, particularly in Asia, are leaning more towards domestic MBA programs. Not only have domestic MBA programs become more reputable, but they are typically only one year and are usually considerably cheaper than an American MBA.
2)I think many applicants are waiting until the job market to pick up. Most economists believe the job market levels will not hit 2007 levels (which was decent but not great) until 2015 or so. I believe AMBA applications are suffering the most because of this.
Finally, the value of MBA is not quite what it was. One of the main reason is that 2000s was the WORST decade for job growth (even worse than the Depression era 1930s). Many MBAs never had a good opportunity to be promoted to higher levels.
I think once the economy picks up and we don't have a dumb President such as George W Bush, we will do well again.
1)International applicants, particularly in Asia, are leaning more towards domestic MBA programs. Not only have domestic MBA programs become more reputable, but they are typically only one year and are usually considerably cheaper than an American MBA.
2)I think many applicants are waiting until the job market to pick up. Most economists believe the job market levels will not hit 2007 levels (which was decent but not great) until 2015 or so. I believe AMBA applications are suffering the most because of this.
Finally, the value of MBA is not quite what it was. One of the main reason is that 2000s was the WORST decade for job growth (even worse than the Depression era 1930s). Many MBAs never had a good opportunity to be promoted to higher levels.
I think once the economy picks up and we don't have a dumb President such as George W Bush, we will do well again.
03 Jan 2010, 12:34
Kudos
Bookmarks
Has anyone seen an updated Employment Report? The version available through the website is woefully out of date.
