{"id":1681040,"date":"2022-10-10T06:53:19","date_gmt":"2022-10-10T10:53:19","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1681040"},"modified":"2022-10-10T06:53:33","modified_gmt":"2022-10-10T10:53:33","slug":"mba-applications-at-top-ivy-league-universities-see-double-digit-drops","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mba-applications-at-top-ivy-league-universities-see-double-digit-drops\/","title":{"rendered":"MBA Applications at Top Ivy League Universities See Double Digit Drops"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmba-applications-at-top-ivy-league-universities-see-double-digit-drops%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1681040&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Applications to top business school programs at top Ivy League universities saw double-digit drops this semester.<\/p>\n<p>Major <a href=\"https:\/\/www.theepochtimes.com\/t-mba\">MBA<\/a> programs like Harvard Business School have reported steep drops in applications due to a tight labor market\u00a0and expensive costs of the degrees, which have pushed many would-be applicants away, according to an article in\u00a0<a href=\"https:\/\/www.wsj.com\/articles\/the-hot-job-market-is-a-problem-for-harvard-wharton-other-top-m-b-a-programs-11664888678?mod=trending_now_news_4\">The Wall Street Journal.<\/a><\/p>\n<p>Undergrad programs are also seeing declines in enrollment, as a younger generation of high school students are rethinking the value of college, as many are beginning to question the\u00a0return on investment or quality of the education.<\/p>\n<p>Some have decided against a four-year degree and go directly into independent business or vocational schools.<\/p>\n<p>Enrollment declines and underfunding have hit the higher education system hard, especially post-pandemic, with many smaller colleges facing financial hardship.<\/p>\n<p>Meanwhile, recent cuts in state funding for higher education have pushed more of the costs onto students, leading to significant tuition increases.<\/p>\n<p>Harvard Business School, which has long been regarded as the nation\u2019s top business school, saw MBA applications tumble by more than 15 percent this semester.<\/p>\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\">The Wharton School of the University of Pennsylvania, another MBA program, recorded a more than a 13 percent plunge.<\/p>\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\">WSJ reported other top MBA programs, such as Yale University\u2019s School of Management saw a decline of 16 percent, while the Booth business school at the\u00a0University of Chicago\u00a0and\u00a0New York University\u2019s Stern have seen applications fall by 10 percent or more for the class of 2024.<\/p>\n<h2>Smaller Pool of Applicants<\/h2>\n<p>The tighter labor market\u00a0and increased interest in shorter master\u2019s programs were a motivator behind the drop, Laurel Grodman, an assistant dean for admissions at Yale told WSJ.<\/p>\n<p class=\"css-o525x3\">She admitted that the smaller pool of applicants vying for the under 350 spots in the MBA program, allowed some students to enter this year, who would have otherwise been waitlisted.<\/p>\n<div class=\"paywall css-1u1nl00-PaywalledContentContainer e1db8bjv0\">\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\">Young white-collar professionals have witnessed large pay raises this year, making the cost of going back to school less attractive, despite higher living expenditures.<\/p>\n<p>The average cost of attending the top American business schools is as high as $200,000 or more, over a two-year, full-time program, including living costs.<\/p>\n<p>Interest in business degrees is still high from candidates abroad, schools say, with U.S.-based prospective students fueling most of the declines.<\/p>\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\">Business school recruiters are increasingly competing against other programs to attract students, as well as generous offers from companies attempting to fill major staffing shortages.<\/p>\n<p>The Graduate Management Admission Council, which reviews admissions numbers, told WSJ, that student applications among Americans are down for the full-time MBA programs.<\/p>\n<p>The drop in enrollment was made up for by international students, but still not enough to offset the decline across the majority of business school programs.<\/p>\n<\/div>\n<p>Harvard started a new scholarship program this year, that would attract more at-need applicants to the business school program, which will cover the full cost of tuition and fees for 10 percent of its student body.<\/p>\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\">About 10 percent of enrollees at Harvard said that they expected to apply for financial need-based aid to cover $76,000 a year in tuition and fees a year, <a href=\"https:\/\/www.wsj.com\/articles\/harvard-business-school-making-tuition-free-for-more-m-b-a-s-based-on-financial-need-11660656601?mod=article_inline\">according to WSJ.<\/a><\/p>\n<p>Many top MBA programs also offer similar need-based scholarships, while others distribute aid based on test scores, grades, and personal backgrounds.<\/p>\n<p>However, there are signs that businesses are expecting an economic downswing in the months ahead, as\u00a0finance,\u00a0tech, and\u00a0retail\u00a0firms started to cut jobs last month.<\/p>\n<div class=\"paywall css-1u1nl00-PaywalledContentContainer e1db8bjv0\">\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\">This could lead to a surge in applications to MBA programs next year.<\/p>\n<\/div>\n<div class=\"author_wrapper\">\n<div class=\"one_author_block round\">\n<div class=\"top_row\">\n\t\t\t\t\t<a href=\"https:\/\/www.theepochtimes.com\/author-bryan-jung\"><\/a><\/p>\n<p>Follow<\/p>\n<\/div>\n<p>Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.\n<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Applications to top business school programs at top Ivy League universities saw double-digit drops this semester.Major MBA programs like Harvard Business School have reported steep drops in applications due to<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1681040","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1681040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1681040"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1681040\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1681040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1681040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1681040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}