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Effect of Financial crisis on MBA entrance and GMAT cut-offs

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Effect of Financial crisis on MBA entrance and GMAT cut-offs

by vinamram » Sun Nov 02, 2008 4:26 am
In view of the ongoing financial crisis, which might act as a dampner for all those looking for a career through MBA, will not the average GMAT cut-offs for the B-schools come down?
like if a top10 school was a stretch @660 then with the ongoing scenario, will not it would come in the range considering lesser number of people taking to MBA due to sckepticism and unsurity.
If u can throw some light on this aspect taking into consideration the rate of reciept of applications at the various schools in the initial rounds!!
Thanx
vinamra
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by Lisa Anderson » Wed Nov 05, 2008 1:21 pm
Dear Vinamra,

GMAT requirements will not come down due to the financial crisis. Schools will actually see an increase of applications this year as people lose their jobs and so GMAT averages will probably increase at many schools. Next year, the volume might go down as folks are insecure about leaving a job. However, you will not see much movement on the GMAT average as a result of applications going down. Schools might decide to cut back on the number of seats instead.

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Lisa
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by Tani » Fri Nov 07, 2008 2:37 pm
Unfortunately, the financial crisis will significantly INCREASE, not decrease the number of applicants to the top schools. Also, many of them will be coming from exceptionally strong backgrounds on Wall Street. Their strong quantitative bias and experience may also run up the average scores on the quantitative section.
Business school admissions increase when the economy slows down for several reasons. First, many strong performers are, or expect to be, out of a job. Second, even those whose jobs are safe anticipate much lower bonuses, smaller raises and slower promotions. These factors make taking two years off for school much more attractive. Third, many are concerned that contraction in the financial markets will reduce the overall job pool, making an advanced degree more important for the short and long term.

As a Kaplan admissions consultant, I am already seeing stronger GMAT scores than ever before. So, if you are applying this year, a solid GMAT prep course may be more important than ever.
Tani Wolff
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