In ninth grade algebra class, we learned the fundamentals of logic. If p, then q. Well, we’ve got an if p, then q for our readers today. Historically, if the economy tanks, applications to business school rise. We’ve been writing about this trend for many years and in fact the trend extends beyond applications to business schools. It extends to just about all graduate programs — from law to medicine and every Ph.D. in fingerprint painting in between. And the year 2020 is no exception. After years of declining MBA applications in a healthy economy, as the economy languishes due to the novel coronavirus pandemic in 2020, applications to business schools are up…big time!
MBA Applications Are Up at Elite Universities
As Patrick Thomas reports for The Wall Street Journal in a piece entitled “Applicants Flock to Elite Business Schools to Ride Out the Coronavirus Pandemic,” “Applications to some top-tier M.B.A. programs are soaring this year after schools extended application deadlines and loosened their standardized testing requirements amid the Covid-19 pandemic. After several years of falling application numbers, the University of Pennsylvania’s Wharton School, Columbia Business School, MIT’s Sloan School of Management and other elite programs are reporting double-digit percentage application increases for their fall 2020 classes. It is an early indication that at least the top few M.B.A. programs are managing to stay stable through the pandemic and reversing several years of declining demand, according to the nonprofit Graduate Management Admission Council, which tracks hundreds of M.B.A. programs. Students typically flock to B-schools and graduate programs during economic downturns, as advanced degrees are seen as a way to help further careers even as the job market languishes.”
Inquiries for Ivy Coach’s MBA Admissions Assistance Are Up 77%
So it really shouldn’t be all that surprising to anyone that MBA applications to elite universities have skyrocketed in the year 2020. In fact, we can report that inquiries for Ivy Coach’s MBA assistance — which we can calculate based on the form completions on our website that specifically target our MBA help — are up 67% year-over-year and 77% this month alone. It leads us to think…with so many shuttered businesses due to the pandemic, where oh where are these newly minted MBAs going to work? Oh wait. They’re going to start their own businesses. We kid, we kid. Hey, one’s got to have a sense of humor in 2020.
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