I just don't buy this idea that applications are going to skyrocket because of laid off I-bankers. I mean, don't get me wrong I do think applications will increase due to the economy but I dont' think apps will increase by as much as people are expecting and I don't think I-bankers will flood bschools. Here's why: First, most bankers have an MBA! I think everybody keeps forgetting that fact. How many people on this board are getting an MBA because they want to get into I-banking? 1, 2 and 3 year analysts at I-banks have only a bachelors. Associates, VPs, MDs and above have MBAs. So my guess is that a lot of laid off people already have their MBA. In addition, 2nd and 3rd year analysts that were just laid off were probably already planning on applying in Fall 09 anyway so these aren't really NEW applicants. Second (related to #1), when apps skyrocked during the last recession it was mostly due to laid off dot com workers. How many dot com workers already had their MBA? Very few. Compare this to the number of bankers that already had an MBA (above). So I think the layoffs and subsequent application boom was a different phenomenom last time. In 2001 the people laid off were almost universally under 30 and without an MBA (dot com people) versus the current round of Wall Street layoffs which will be heavy on MBAs and some analysts that were already planning on applying this year anyway. Third, US GMAT registration during the first 3 months of the year are only up 5.25% (granted international GMATs are up way more but we are talking about Wall Street, ie US apps). Layoffs and fear of layoffs were huge during these months, yet the rate of increase is slightly less than it was last year. I think that is partially due to the fact that.... Fourth, MBA application volume is already very high due to 3 straight years of significant increases (including a major surge thsi year). When your base of applications is this high, your rate of growth must naturally be lower (think start up company vs mature company growth rates) And lastly, how many people on this forum (or BW for that matter) are laid off bankers that are planning to apply to Bschool? I have seen very few. What do you guys think? Clearly, as a Fall09 applicant I am a bit biased and trying to be optimistic but I think my analysis is sound.

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Laid Off Bankers

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IHateTheGMAT

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Concentration: Investment Banking or Investment Management

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28 Apr 2008, 18:09

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For those of us in the finance field that are not I-bankers (for me I am a financial analyst at a business valuation firm which basically appraises private businesses) do we think we will still be considered a part of the same application pool?

dabots

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28 Apr 2008, 21:58

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msday86

I hypothesize (optimistically) that the predicted increase in 2009 apps will make it harder for bankers to get in, but for non-traditional people (engineers, scientists, non-profit?), it may be easier to get in because not as many will want to leave their presumably steady jobs in an uncertain economy.

ive considered this as well. i work in the public sector where the mba unnecessary and job security is very high.

gmatclb

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29 Apr 2008, 07:53

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I didn't know I bankers were the predicted culprit in the increase in applications...

Who's been saying this?

The increase will come from across the board. Most of the people being laid off at I banks are not bankers in the sense we think about. Most of them will come from ops, marketing, sales, and other areas.

But there will be an increase in apps across the board.