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Join us for a Live Coffee chat with Jenifer Turtschanow where we talk about enhancing your MBA profile and fixing gaps in just 4 months.
27 Mar 2020, 01:34
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Live Chat with ARINGO MBA Admissions consultancy
Monday, Mar 30, 2020 10AM PDT (1PM EDT / 5pm GMT / 10:30pm IST)
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Join the chat here: https://gmatclub.com/forum/mchat.php
With coronavirus shuttering university campuses across the globe, admissions processes to Top MBA programs are changing to accommodate the current circumstances. In this chat, we'll review some of the general changes in the admissions processes that have been put in place at many schools, talk about how aspiring MBAs can leverage these changes to their advantage, and talk about our ideas of how coronavirus will impact the MBA ecosystem at large. And as usual, we'll also be happy to field general questions about applying to Top MBAs.
Details of Presenters:
- Jenifer Tutschanow, CEO, ARINGO Admissions consultancy
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31 Mar 2020, 11:36
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Transcript from the live chat with ARINGO on "Coronavirus impact on MBA Admissions"
Can you introduce yourself?
Hi everyone, I’m Jen, CEO of ARINGO. I’ve been working in admissions for the past 8 years. Looking forward to your questions as we all navigate MBA admissions with COVID-19
Will business schools give less scholarship money because of the impact on endowment funds?
This is a great question. This will likely vary school by school and location. It could go two different ways - schools could use scholarship money to encourage enrollment, or their funds could be used elsewhere. For the 2021 cycle, we’ll likely see some messaging around scholarships this summer
Do you think the business school will open the MBA programs this coming September?
Who knows ☹? Schools with programs starting this June have already notified their students on the postponement of the starting date or the move to one online term. I am assuming schools will make this tough decision in a couple of months.
I have an admission from UNC and Kelley. UNC will cost me 45k more. Earlier I was leaning towards UNC, but due to corona and recession, I am confused about whether I should save money and go to Kelley. International interested in Marketing in Tech(although no hard preference in the industry)
The biggest part of this question is employment - when you look at the employment reports, which school matches the job sector, location, and function that you are considering.
will the acceptance rate get affected?
The rates may not be impacted as much as the variables - like GMAT score average and diversity
Is it possible for schools to expect students to take a long time as a remote student (like the whole fall semester). Considering this will impact the true essence of an MBA. This is going to be tough to go to b-school this year.
so, no one knows what will happen between now and September. but we can assume that if things "stay as they are", the September semester will be postponed or will start online. I don’t think there will be a huge impact on the entire MBA experience even if you have to start it from home for the first 1-2 months out of a 2-year experience
Should we consider deferral or just not going on an MBA this year?
I think it will be best to wait to see what your program offers. There is still time for potential fall arrival to your destination (and visas). You can make your decision in the next few months.
Do you think that doing a term online is worth, keeping in mind that an MBA is so much about networking and personal interaction?
This truly depends on where you are in your career and what outcomes you are looking for in the short-term. In the long-term, you will still be a part of the same alumni network.
Do you have tips on navigating expanded waitlists due to COVID?
The waitlist should be handled exactly the same as always. show interest, show a professional or academic change... PRAY
Do you think R1/R2 will be more competitive this fall because of international students having to defer and taking up spots already?
Yes. I think 2021 will shape up to be a very competitive year for MBA programs - for international and domestic candidates.
Do you think the GMAT average will shift? If so, what direction?
With schools currently allowing applications without GMAT, it is safe to assume they will likely go down a few points. It depends on if the schools will offer admission contingent on providing a GMAT/GRE score.
Do you think with the current situation, it is a good idea for internationals to apply in R3?
Hi, yes, All US schools typically leave fewer spaces for foreign students in the last rounds, so in regards to US schools, there is a chance, but it will be tough. EU schools / Canadian schools or schools that start in January 2021 – well, they are all still open for you! (we have a list on our site of top MBA schools that start in January here: https://www.aringo.com/mba-january-programs/)
do you feel that there is going to be a meaningful shift in domestic vs. international balance at schools?
It is likely that MBA candidates will study closer to home, likely in the same country (across the markets). This will make it more competitive for both domestic and international students. US schools will likely see a rise in US candidates, the same as European and Asian programs.
with respect to the finance required for McDonough full-time MBA and most other schools do you predict them to reduce the tuition for this fall 2020, semester. since the entire course will be taught online?
So, I think there is one certainty. MBA tuition will not go down
how will the GMAT score and diversity be affected?
The GMAT average is likely to dip a few points at each school as they finish final rounds for Fall 2020 or January 2021. Diversity will likely decrease as candidates will be more compelled to study closer to home with the visa situation.
Any strong argument as to why the tuition shouldn’t go down? The MBA experience is online for a chunk of the semester and hence students feel it could go down.
don’t shoot the messenger... currently, all schools are starting on time in September 2020. if the schools delay their application or move to online, I suppose students will ask for a reduction in fees, and I am assuming the schools will say their expenses (rent, and salaries) are identical... obviously, if the schools are shut for more than a few weeks (again, we are talking about more than 6 months from now) that might be another story... that no one currently knows or wants to get into
Do you think there will be more online programs next year? Since programs are forced to adopt digital learning for now. And would that be worth it strictly speaking in terms of ROI?
It will be interesting to see how MBA programs and their offerings will grow from what we learn during the pandemic. Right now there was a bit of struggle for an unplanned shift to online classes. I think they determine what worked well and what can be improved and determine how to apply this going forward. Many top programs already have Online MBA programs. Not certain if there will be a trend for candidates to gravitate to this learning environment or not... really depends on the next few months and if we can contain the pandemic. online MBA is very different from on-campus - you study the same courses, but the networking, the extracurricular activities, the clubs, the job opportunities, and the overall experience is very very different... not to mention that the best schools are not offering online MBAs
Is there a possibility that the R1 timelines for September 2021 intake may change given the current situation?
It is a possibility. The biggest factor is how long it will take the GMAT and GRE to be offered online in all countries or when testing centers reopen.
Do you think there will be more online programs next year? Since programs are forced to adopt digital learning for now?
that is one possibility. currently, no top 10 schools are offering online MBAs. (you can see a list of the top programs here: https://www.aringo.com/top-mba-programs none of them offer online. the corona situation will end at some stage. 3 - 6 or 9 months from now, and all will return the way it used to be (well, for MBA programs) so I don't ee Harvard or Wharton starting to offer online MBAs... but who knows!
How badly do you think 2021 summer internship hiring will be affected by the Coronavirus situation?
By summer 2021 the markets should recover globally, giving companies time to adjust and offer internships and full-time offers, pay rates may change though
I was accepted to Booth R2. I didn’t apply to GSB or Wharton because I felt it was a long shot, but under the circumstances, I think I’m going to send an R3 app into GSB. Do you genuinely feel like there’s room for an admissions consultant to help me with my app/story this late in the game? or should I just stick with my self-generated app strategy and submit?
I think it is worth a conversation - we work with clients on an expedited timeline every round. We’re well versed in both GSB and Wharton applications. Send me an email - [email protected] and we can chat about it offline.
what do you predict post-MBA opportunities for consulting companies in the US could look like for fall 2020 MBA admits? given the slowdown in the already crowded space
so you are asking me to predict the job market in consulting in the US in August 2022. well, I am not the cleaver but my belief is this: Top MBA graduates will become even more hirable. In economic downturns, leading companies will not be able to afford managers who give marginal performances or lack creativity. Companies will, therefore, be likely to rely on their recruiting efforts with MBA programs, through which they can vet and train candidates closely before hiring. Consulting will boom (but hey, this is just my guess...)
Any idea on how INSEAD will handle its upcoming MBA and its new MiM program? I’m asking because INSEAD usually accepts a lot of international students.
INSEAD is already working to remove barriers to recruiting the best international class for 2021 by removing the GMAT/GRE as an application requirement for review. (They may require that the exam be taken after review), but I do think they are trying to be as forward-thinking as possible to maintain that classroom diversity factor
Any idea on how INSEAD will handle its upcoming MBA and its new MiM program? I’m asking because INSEAD usually accepts a lot of international students.
INSEAD and any other international school is waiting to see how the corona situation works out. obviously, if there is a shutdown in France, in September 2020, the studies will have to be postponed or move online. naturally, they are not announcing anything just yet, and we all will have to wait and see.
how are universities prepared for R3 given people are unable to take the test and there are uncertainties and less faith in the online version of GMAT
I’m not sure anyone was prepared for this, but they are trying their best to provide a fair process - to R3 candidates as well as those that were dinged in previous rounds. Right now the online GRE/GMAT are the resources they have available and they have to put faith in those tools. Some schools are offering application review without exam scores, so this shows their openness to a great candidate prior to a GMAT score.
There are some schools like IMD and LBS who are asking to submit applications for the Sept 2020 class even without the GMAT scores. Is it a good time to apply or is it advisable to apply for the Jan 2021 or Aug 2021 class considering the competition and deferrals?
YES! If you are open for Fall 2020, go for it! It’s the best-case scenario - with an impeccable application, hopefully, the exam score will not matter and may likely be a formality. Feel free to send me your CV for a profile evaluation at JeniferTARINGO.com
What about international students applying for next year's intake? Considering that international students will defer this year. Will this increase the competition next year for international students?
Yes, I think next year will be super competitive. as some candidates will defer to next year. on the other hand, due to the situation, perhaps there will be fewer applicants who can afford an MBA
How do you think schools will handle deferral requests for non-international candidates?
As top programs have only offered deferrals in extenuating circumstances, if you are domestic, you will need a good reason.
Better R3 odds given the fact that some students might try to defer/ postpone app to 2021?
This is correct. It is likely that schools will try to compensate for the expected drop in yield. Feel free to send me your CV and we can discuss R3 applications - JeniferTARINGO.com
If we weren’t awarded a scholarship upon receiving our offers, would it be okay to write to admissions offices at the schools and ask for scholarships? Would they be more open to awarding them?
Research the school’s scholarship notification process. If the award time has passed, yes you can send an email with a formal word doc request (easiest way for schools to add to your file). It is likely that they will have leftover funds from deferrals and declines at this point in the year. Make sure to provide reasons as to why you feel you would be (re)considered for scholarship - merit, hardship, etc.
Hi, as a student who will apply in R1, my concern is whether the average GMAT score of B schools increases because prospective GMAT takers have more time to prepare?
Well, if the average GMAT score goes up by 5 points or goes down by 5 points, I don’t think this will change YOUR chances of acceptance. ARINGO works every year with candidates with low GMAT scores (so, below average) and with great success (check out our stats https://www.aringo.com/aringo-mba-admission-statistics/ and average GMAT scores https://www.aringo.com/aringo-top-mba-gmat-results/ so, focus on the GMAT, get the score YOU can reach. and then, talk to us to focus on your application... which is more important than the GMAT
Would you advise trying to deffer for this year? do you know if universities are open for deferrals?
Programs are already preparing for deferrals from international admits. If you are a domestic admit, you will need to have a really good reason for deferral for them to grant it.
Impossible question, but if you were in the shoes of 2022 admits right now, how much debt are willing to take on on this environment for a place in M7 - 50k, 100k, 150k? I realize context is extremely important (current job, schools, goals, etc.) but I’m just curious how the figure changes for you from say last year.
Indeed an impossible question. but I will answer it with an answer you didn’t want to hear. - 100% debt (so even 200K)
the answer is MBAs have a very clear ROI. and if it takes you 3 years to return your debt or 6 years, it is less important - a top MBA will take you to places (and salaries) that will make it worth it.
Obviously, this answer doesn’t fit anyone, and I suggest speaking to us before you apply and we can go over your considerations (for example, you prefer a high scholarship or a cheaper MBA program vs. a top-ranked school, etc.) I am always on JeniferTARINGO.com
If you already submit your deposit, do you lose any chance to defer?
Yes - it is likely that a deposit will be required to defer. They want to ensure you are committed to coming during the next intake. Also, this depends on the school. most schools (historically) didn’t like to grant deferrals (with or without deposits)
Contact your school and ask them. the fact that you paid a deposit should show you are serious about next year, and in a way, increase your chances for a deferral.
Any idea on how R3 applications will work out for applicants from the extremely competitive pool like Indians or Chinese?
R3 is going to be better in Europe/Asia for these pools as they typically are still admitting international candidates this late in the cycle. The US will be hard with visa/travel issues.
Hi. I’ve received an admit to INSEAD’s MBA. What are your thoughts on post-MBA recruitment in Europe, minus the language barrier?
In recent years, over 300 companies recruited INSEAD graduates, with over 90 percent of the students found jobs in less than 3 months post-MBA. I don’t see this change in 1-2 years.
Can you introduce yourself?
Hi everyone, I’m Jen, CEO of ARINGO. I’ve been working in admissions for the past 8 years. Looking forward to your questions as we all navigate MBA admissions with COVID-19
Will business schools give less scholarship money because of the impact on endowment funds?
This is a great question. This will likely vary school by school and location. It could go two different ways - schools could use scholarship money to encourage enrollment, or their funds could be used elsewhere. For the 2021 cycle, we’ll likely see some messaging around scholarships this summer
Do you think the business school will open the MBA programs this coming September?
Who knows ☹? Schools with programs starting this June have already notified their students on the postponement of the starting date or the move to one online term. I am assuming schools will make this tough decision in a couple of months.
I have an admission from UNC and Kelley. UNC will cost me 45k more. Earlier I was leaning towards UNC, but due to corona and recession, I am confused about whether I should save money and go to Kelley. International interested in Marketing in Tech(although no hard preference in the industry)
The biggest part of this question is employment - when you look at the employment reports, which school matches the job sector, location, and function that you are considering.
will the acceptance rate get affected?
The rates may not be impacted as much as the variables - like GMAT score average and diversity
Is it possible for schools to expect students to take a long time as a remote student (like the whole fall semester). Considering this will impact the true essence of an MBA. This is going to be tough to go to b-school this year.
so, no one knows what will happen between now and September. but we can assume that if things "stay as they are", the September semester will be postponed or will start online. I don’t think there will be a huge impact on the entire MBA experience even if you have to start it from home for the first 1-2 months out of a 2-year experience
Should we consider deferral or just not going on an MBA this year?
I think it will be best to wait to see what your program offers. There is still time for potential fall arrival to your destination (and visas). You can make your decision in the next few months.
Do you think that doing a term online is worth, keeping in mind that an MBA is so much about networking and personal interaction?
This truly depends on where you are in your career and what outcomes you are looking for in the short-term. In the long-term, you will still be a part of the same alumni network.
Do you have tips on navigating expanded waitlists due to COVID?
The waitlist should be handled exactly the same as always. show interest, show a professional or academic change... PRAY
Do you think R1/R2 will be more competitive this fall because of international students having to defer and taking up spots already?
Yes. I think 2021 will shape up to be a very competitive year for MBA programs - for international and domestic candidates.
Do you think the GMAT average will shift? If so, what direction?
With schools currently allowing applications without GMAT, it is safe to assume they will likely go down a few points. It depends on if the schools will offer admission contingent on providing a GMAT/GRE score.
Do you think with the current situation, it is a good idea for internationals to apply in R3?
Hi, yes, All US schools typically leave fewer spaces for foreign students in the last rounds, so in regards to US schools, there is a chance, but it will be tough. EU schools / Canadian schools or schools that start in January 2021 – well, they are all still open for you! (we have a list on our site of top MBA schools that start in January here: https://www.aringo.com/mba-january-programs/)
do you feel that there is going to be a meaningful shift in domestic vs. international balance at schools?
It is likely that MBA candidates will study closer to home, likely in the same country (across the markets). This will make it more competitive for both domestic and international students. US schools will likely see a rise in US candidates, the same as European and Asian programs.
with respect to the finance required for McDonough full-time MBA and most other schools do you predict them to reduce the tuition for this fall 2020, semester. since the entire course will be taught online?
So, I think there is one certainty. MBA tuition will not go down
how will the GMAT score and diversity be affected?
The GMAT average is likely to dip a few points at each school as they finish final rounds for Fall 2020 or January 2021. Diversity will likely decrease as candidates will be more compelled to study closer to home with the visa situation.
Any strong argument as to why the tuition shouldn’t go down? The MBA experience is online for a chunk of the semester and hence students feel it could go down.
don’t shoot the messenger... currently, all schools are starting on time in September 2020. if the schools delay their application or move to online, I suppose students will ask for a reduction in fees, and I am assuming the schools will say their expenses (rent, and salaries) are identical... obviously, if the schools are shut for more than a few weeks (again, we are talking about more than 6 months from now) that might be another story... that no one currently knows or wants to get into
Do you think there will be more online programs next year? Since programs are forced to adopt digital learning for now. And would that be worth it strictly speaking in terms of ROI?
It will be interesting to see how MBA programs and their offerings will grow from what we learn during the pandemic. Right now there was a bit of struggle for an unplanned shift to online classes. I think they determine what worked well and what can be improved and determine how to apply this going forward. Many top programs already have Online MBA programs. Not certain if there will be a trend for candidates to gravitate to this learning environment or not... really depends on the next few months and if we can contain the pandemic. online MBA is very different from on-campus - you study the same courses, but the networking, the extracurricular activities, the clubs, the job opportunities, and the overall experience is very very different... not to mention that the best schools are not offering online MBAs
Is there a possibility that the R1 timelines for September 2021 intake may change given the current situation?
It is a possibility. The biggest factor is how long it will take the GMAT and GRE to be offered online in all countries or when testing centers reopen.
Do you think there will be more online programs next year? Since programs are forced to adopt digital learning for now?
that is one possibility. currently, no top 10 schools are offering online MBAs. (you can see a list of the top programs here: https://www.aringo.com/top-mba-programs none of them offer online. the corona situation will end at some stage. 3 - 6 or 9 months from now, and all will return the way it used to be (well, for MBA programs) so I don't ee Harvard or Wharton starting to offer online MBAs... but who knows!
How badly do you think 2021 summer internship hiring will be affected by the Coronavirus situation?
By summer 2021 the markets should recover globally, giving companies time to adjust and offer internships and full-time offers, pay rates may change though
I was accepted to Booth R2. I didn’t apply to GSB or Wharton because I felt it was a long shot, but under the circumstances, I think I’m going to send an R3 app into GSB. Do you genuinely feel like there’s room for an admissions consultant to help me with my app/story this late in the game? or should I just stick with my self-generated app strategy and submit?
I think it is worth a conversation - we work with clients on an expedited timeline every round. We’re well versed in both GSB and Wharton applications. Send me an email - [email protected] and we can chat about it offline.
what do you predict post-MBA opportunities for consulting companies in the US could look like for fall 2020 MBA admits? given the slowdown in the already crowded space
so you are asking me to predict the job market in consulting in the US in August 2022. well, I am not the cleaver but my belief is this: Top MBA graduates will become even more hirable. In economic downturns, leading companies will not be able to afford managers who give marginal performances or lack creativity. Companies will, therefore, be likely to rely on their recruiting efforts with MBA programs, through which they can vet and train candidates closely before hiring. Consulting will boom (but hey, this is just my guess...)
Any idea on how INSEAD will handle its upcoming MBA and its new MiM program? I’m asking because INSEAD usually accepts a lot of international students.
INSEAD is already working to remove barriers to recruiting the best international class for 2021 by removing the GMAT/GRE as an application requirement for review. (They may require that the exam be taken after review), but I do think they are trying to be as forward-thinking as possible to maintain that classroom diversity factor
Any idea on how INSEAD will handle its upcoming MBA and its new MiM program? I’m asking because INSEAD usually accepts a lot of international students.
INSEAD and any other international school is waiting to see how the corona situation works out. obviously, if there is a shutdown in France, in September 2020, the studies will have to be postponed or move online. naturally, they are not announcing anything just yet, and we all will have to wait and see.
how are universities prepared for R3 given people are unable to take the test and there are uncertainties and less faith in the online version of GMAT
I’m not sure anyone was prepared for this, but they are trying their best to provide a fair process - to R3 candidates as well as those that were dinged in previous rounds. Right now the online GRE/GMAT are the resources they have available and they have to put faith in those tools. Some schools are offering application review without exam scores, so this shows their openness to a great candidate prior to a GMAT score.
There are some schools like IMD and LBS who are asking to submit applications for the Sept 2020 class even without the GMAT scores. Is it a good time to apply or is it advisable to apply for the Jan 2021 or Aug 2021 class considering the competition and deferrals?
YES! If you are open for Fall 2020, go for it! It’s the best-case scenario - with an impeccable application, hopefully, the exam score will not matter and may likely be a formality. Feel free to send me your CV for a profile evaluation at JeniferTARINGO.com
What about international students applying for next year's intake? Considering that international students will defer this year. Will this increase the competition next year for international students?
Yes, I think next year will be super competitive. as some candidates will defer to next year. on the other hand, due to the situation, perhaps there will be fewer applicants who can afford an MBA
How do you think schools will handle deferral requests for non-international candidates?
As top programs have only offered deferrals in extenuating circumstances, if you are domestic, you will need a good reason.
Better R3 odds given the fact that some students might try to defer/ postpone app to 2021?
This is correct. It is likely that schools will try to compensate for the expected drop in yield. Feel free to send me your CV and we can discuss R3 applications - JeniferTARINGO.com
If we weren’t awarded a scholarship upon receiving our offers, would it be okay to write to admissions offices at the schools and ask for scholarships? Would they be more open to awarding them?
Research the school’s scholarship notification process. If the award time has passed, yes you can send an email with a formal word doc request (easiest way for schools to add to your file). It is likely that they will have leftover funds from deferrals and declines at this point in the year. Make sure to provide reasons as to why you feel you would be (re)considered for scholarship - merit, hardship, etc.
Hi, as a student who will apply in R1, my concern is whether the average GMAT score of B schools increases because prospective GMAT takers have more time to prepare?
Well, if the average GMAT score goes up by 5 points or goes down by 5 points, I don’t think this will change YOUR chances of acceptance. ARINGO works every year with candidates with low GMAT scores (so, below average) and with great success (check out our stats https://www.aringo.com/aringo-mba-admission-statistics/ and average GMAT scores https://www.aringo.com/aringo-top-mba-gmat-results/ so, focus on the GMAT, get the score YOU can reach. and then, talk to us to focus on your application... which is more important than the GMAT
Would you advise trying to deffer for this year? do you know if universities are open for deferrals?
Programs are already preparing for deferrals from international admits. If you are a domestic admit, you will need to have a really good reason for deferral for them to grant it.
Impossible question, but if you were in the shoes of 2022 admits right now, how much debt are willing to take on on this environment for a place in M7 - 50k, 100k, 150k? I realize context is extremely important (current job, schools, goals, etc.) but I’m just curious how the figure changes for you from say last year.
Indeed an impossible question. but I will answer it with an answer you didn’t want to hear. - 100% debt (so even 200K)
the answer is MBAs have a very clear ROI. and if it takes you 3 years to return your debt or 6 years, it is less important - a top MBA will take you to places (and salaries) that will make it worth it.
Obviously, this answer doesn’t fit anyone, and I suggest speaking to us before you apply and we can go over your considerations (for example, you prefer a high scholarship or a cheaper MBA program vs. a top-ranked school, etc.) I am always on JeniferTARINGO.com
If you already submit your deposit, do you lose any chance to defer?
Yes - it is likely that a deposit will be required to defer. They want to ensure you are committed to coming during the next intake. Also, this depends on the school. most schools (historically) didn’t like to grant deferrals (with or without deposits)
Contact your school and ask them. the fact that you paid a deposit should show you are serious about next year, and in a way, increase your chances for a deferral.
Any idea on how R3 applications will work out for applicants from the extremely competitive pool like Indians or Chinese?
R3 is going to be better in Europe/Asia for these pools as they typically are still admitting international candidates this late in the cycle. The US will be hard with visa/travel issues.
Hi. I’ve received an admit to INSEAD’s MBA. What are your thoughts on post-MBA recruitment in Europe, minus the language barrier?
In recent years, over 300 companies recruited INSEAD graduates, with over 90 percent of the students found jobs in less than 3 months post-MBA. I don’t see this change in 1-2 years.
