It seems that applications to full-time MBA programs continue to drop, while part-time and executive MBA applications remain the same and even rose slightly in some cases. According to an article in The Chronicle of Higher Education, this trend could be due to applicants’ reluctance to quit their jobs in order to go to school full time during this tough economic climate. A report by the Graduate Management Admission Council found that more than two thirds of the participating two-year full-time programs and more than half of the one-year programs reported a drop is applications from 2010 to 2011. On the other hand, 83% of master of finance programs, 69% of master of management programs and 51% of master of accounting programs actually saw a rise in applications. Why the difference? MBA programs typically accept people with a few years of work experience, while these specialized master’s programs tend to cater toward recent college grads. With so few jobs available, those who have jobs want to hold on to them, while those who don’t are looking for a way to gain a competitive advantage by getting another degree.
Read the full article: MBA News: Full-Time Business School Applications Still Down