COVID-19 Situation and its Impact on the Next Application Season
Hi all, one of our co-founders, Melody Jones, shared the following thoughts on the current environment and outlook for next year. Thought you may find helpful!
-Several factors are in play that will make this upcoming application cycle the most competitive in recent history. On the demand side, we expect to see an uptick in applications as the MBA is viewed as a safe place to ride out an economic downturn, which unfortunately, seems to be more and more inevitable. On the supply side, you have up to 20% (current estimates based on P&Q's survey) of the 2020 incoming class that is expected to defer to 2021 matriculation that will reduce the number of spots available in the top programs' classes. So what that means for applicants is that 1) differentiation matters more than ever and 2) they should cast a wide net in terms of school selection. While you still want to aim high, be realistic about how competitive it is and hedge your bets.
-I had been hesitant to give this advice, but I'm now more confident than ever: if you can pull together a strong application in the next ~2 months, I would recommend applying in the extended round 3/4 of this year. That said, you need to do your homework and understand what the schools are doing about online learning. The consensus is that the current solution of throwing the professor up on Zoom isn't working (it was a band aid). Schools need to redesign their curriculum for online learning in order to provide a robust experience that is more competitive with the in-person one. Since it's looking like the fall semester very well may take place online, applicants need to be prepared for that and OK with that but also understand what that experience will look like at the different schools so they're not surprised.
Stay safe everyone.