Friday, October 12, 2018

シカゴ大学経営大学院 Class of 2020 Profile

  • The number of applicants fell by 9% to 4,289 – a number more in line with the 2013 and 2014 classes. 
  • The acceptance rate to 22.9%.
  • 591 member class. 
  • Average GMATs actually rose a point to 731, a 16 point improvement over the 2013 Class. 
  • Median GMAT fell 10 points to 730. 
  • Average GPAs were 3.60.
  • Women comprised 42% represents a seven-point improvement over the 2011-2015 classes
  • International students fell six points to 30% — the school’s lowest mark in over a decade.
  • Overall, Americans account for a 70% share of the class, followed by Asia (13.4%),

ジョンソン・スクール Class of 2020


  • 280 students in the incoming students (up just slightly from last year’s 277), 
  •  Average GMAT score of 699 
  • Average undergrad GPA of 3.4. That’s pretty similar to the Class of 2019, where the average GMAT score was 700 and the average GPA was 3.36. 
  • Average work experience is five years
  • Women make up a 33 percent —of this year’s incoming class
  • International students made were 27 percent, down from 34 percent last year, from 40 different countries.


Friday, October 5, 2018

Is the MBA Losing its Luster?

GMAC application trends survey
Declining application volume at U.S. business schools made the headlines when the Graduate Management Admission Council (GMAC) released the findings of its annual application trends survey earlier this week (10/1). “Applications Down at 70 Percent of U.S. MBA Programs—Including Harvard,” broadcast one news outlet.
GMAC applications trends survey
And it’s true. The GMAC data reveal that just 32 percent of U.S. programs reported growth as compared to last year. Overall, U.S. business schools experienced a nearly 7 percent decline, with domestic applications down 1.8 percent and international volume off by 10.5 percent.

Growth in Other Markets Offsets U.S. Decline
  • Asia-Pacific programs saw application volume rise 8.9 percent
  • Canada was up 7.7 percent
  • Europe reported 3.2 percent more apps this year than last. 
  • 67 percent of Asia-Pacific programs saw application volume growth
  • 62 percent of programs in Canada and 61 percent in Europe saw application volume growth

There were also regional variations in domestic versus international application volume shifts. Sixty-five percent of programs in Canada and 63 percent in Europe saw international application growth. As a result, applications from international applicants outnumbered those from domestic applicants in each region.
Asia-Pacific programs, meanwhile, saw increases fueled largely by domestic growth, with more candidates from those regions considering educational options closer to home.
GMAC application trends survey

Elite U.S. Schools Not Immune
It’s the fourth consecutive year that application volume has fallen for U.S. schools overall. But this year, even the most elite MBA programs in the country are feeling the squeeze. In particular, U.S. programs have struggled to attract international applicants, with just 28 percent reporting growth this year.

The GMAC survey data included responses from 1,087 graduate business programs at 363 universities worldwide, a mix of MBA, specialized business master’s, and Ph.D.D programs. The results are in keeping with application volume details we’ve been hearing and reporting on from schools since late summer.
Harvard Business School was down 4.5 percent—its biggest decline in five years. Stanford Graduate School of Business saw a 4.6 percent drop year over year. The University of Pennsylvania’s Wharton School was off by 6.7 percent. The list goes on and on. Down less than one percentage point over last year, Cornell’s Johnson Graduate School of Business leads most other top schools in terms of application volume.
Only Dartmouth’s Tuck School, out of all those we’ve talked with, saw applications increase. Speaking to Clear Admit over the summer, Admissions Director Luke Anthony Peña was optimistic that applications would end up being up ever so slightly. And he was right. With 0.4 percent growth year over year, Tuck’s news is the best we’ve heard.
Why So Soft in the States?
The Wall Street Journal was quick to say the MBA “degree had lost its luster.” For some applicants, this could be true.


The GMAC survey found that a majority of European Master in Management and Master of Finance programs reported growing demand. In the United States, the one bright spot was that most Master of Data Analytics programs reported year-over-year growth, including more reporting greater increases among international applicants than domestic applicants.
That said, the GMAC survey findings still show that full-time, two-year MBA programs are the most in-demand of all program types. Overall, MBA and business master’s programs reported a similar volume of applications this year as compared to last.
Many Factors at Play
A closer look at application drop-off at U.S. schools reveals that many factors—beyond potential diminished interest in the two-year MBA degree—have also been at play.

With U.S. unemployment rates at near historic lows, many young professionals are making good money right where they are. Some are deciding the opportunity cost of taking two years off to go to school just doesn’t make sense at the moment. This can be seen reflected in the soft domestic application volume to U.S. schools: Only four out of 10 U.S. programs reported growth in domestic candidates.
But this is nothing new. Business school admissions volume has taken a hit in past boom times as well for precisely the same reason—only to later rebound.
Of course, there’s also the Trump factor. Whatever your politics, it’s hard to dispute that the policies or proposed policies of the current White House administration have created new concerns for international applicants to U.S. programs.
Some international candidates worry that even if they get in, they won’t be able to get a visa to study at Harvard or Stanford or Wharton. According to the Pew Charitable Trusts’ Stateline report, the number of student visas issued by the United States dropped 40 percent from its peak in 2015 to 2017.
For other international applicants, the possibility of not finding a U.S. employer willing to sponsor them post-graduation is an even greater obstacle. For candidates from some regions of the world, paying for a top U.S. MBA program without assurance of a U.S. job and salary upon graduating is an economic equation that just doesn’t work.
GMAC’s Chowfla also underscored the fact that educational and professional opportunities outside of the United States have been expanding and improving over the past decade. The increases Asia-Pacific programs have reported in domestic growth signal that candidates from the region are increasingly viewing educational options closer to home as high value.
GMAC application trends survey

Another bright spot is that all programs have seen increasing percentages of applications submitted by women in each of the past five years, GMAC reports. Full-time, two-year MBA programs have seen the greatest increase—an 8-percentage point gain between 2013 and 2017. So far only specialized master’s programs—Master in Management and Master of Finance—have reached gender parity.

And there’s this: Nine in 10 participating programs report that the applicants this year are similarly or more academically qualified than candidates last year.
Finally, we should also note that the drop in application volume at U.S. schools—especially the most prestigious—in many cases represents a decline from previously record-high levels. Harvard, Stanford, and Wharton don’t run the risk of having empty seats in their MBA classrooms any time soon. But if current trends continue, it might not be the worst time to apply.

シカゴ大学経営大学院 Expands Deferred Admission MBA Program to All College Students

The University of Chicago Booth School of Business announced this week that it has expanded its deferred admission MBA program. Previously limited to undergraduates at the University of Chicago, it is now open to any student in their final year of study at any undergraduate institution.

Chicago Booth Scholars

The Chicago Booth Scholars program gives talented undergraduate seniors the opportunity to apply for a place in a future Booth MBA class. Those who gain admission can then complete two to four years of full-time work experience before heading to Booth for their MBA.

In an effort to provide ultimate flexibility, participants in the expanded program can chose between the full-time MBA program at the Hyde Park campus or the evening and weekend MBA program at the downtown campus.
“Continuing to build the most talented and diverse classes of MBA students is a priority for Chicago Booth,” Dean Madhav Rajan said in a statement announced the news.

Why Expand?

Chicago Booth has chosen to expand its deferred admissions MBA program, which launched in 2002 exclusively for University of Chicago undergrads, in an effort to draw great talent from across the nation and the world.
“This program is extremely successful in terms of the caliber of students it has attracted and the excellent alumni that come out of it,” Stacey Kole, Chicago Booth deputy dean for the MBA program, said in a statement. “There is great talent beyond our own university, which is why we are opening this opportunity to students attending other colleges and universities.”

To Apply

The next application deadline is April 4, 2019, and the $250 application fee will be waived for all Chicago Booth Scholars applicants. One advantage of the program is that it lets college students complete the MBA admissions process—including taking the GMAT or GRE—while they are still in test-taking mode and before they enter the busy working world.


Learn more by reading the news release here.

Wednesday, October 3, 2018

MBA. Applications Decline at Harvard, Wharton, Other Elite Schools as Degree Loses Luster



American business schools struggle to lure professionals out of strong job market, face competition from top programs overseas

By Kelsey Gee
Oct. 1, 2018 12:01 a.m. ET
Applications to American M.B.A. programs dropped for a fourth straight year, with even elite universities starting to show signs of struggling to lure young professionals out of the strong job market.

For the first time in nearly a decade, waning interest in the traditional master of business administration degree hit business schools that draw the most applications, including Harvard and Stanford universities, according to a survey of 360 schools by the Graduate Management Admission Council, a nonprofit that administers the GMAT admissions exam. Those top-tier programs were until recently thought to be immune to the shakeout plaguing less-prestigious programs.

Americans are saddled with more college debt than ever, and they have grown increasingly reluctant to leave behind jobs for a year or more to pursue one of the nation’s most expensive degrees, school administrators say—particularly as the economy has improved. In response, schools in recent years have launched cheaper, more flexible or more customized master’s degrees in hot areas such as data science and supply-chain management.

In the application year ended this spring, U.S. business schools received 140,860 applications for programs including the traditional two-year M.B.A., down 7% from the previous year, GMAC data shows.

Until recently, international students had been a bright spot for U.S. business schools. Now, foreign students face steeper hurdles to getting work visas after graduation, leading fewer to apply to U.S. schools, university administrators say.

Overall applications fell more sharply this year than in 2017 as international students submitted 11% fewer applications this year. Applications from U.S. candidates fell 2%.

The decline in M.B.A. applicants hadn’t affected top business schools until now, even as smaller programs such as those at the University of Iowa and Wake Forest University closed their flagship two-year programs citing weak demand. A handful of large, top-tier M.B.A. programs such as Harvard Business School and the University of Pennsylvania’s Wharton School last year received a little more than half of all business-school applications, according to recent GMAC data.

Harvard Business School received 9,886 applications for this fall’s entering class, down 4.5% from last year—the biggest drop since 2005. Applications to Wharton fell 6.7% to 6,245. At Stanford’s Graduate School of Business, they slid 4.6% to 7,797. Such top schools are still receiving many more applications than they can accept, but the declines mark a reversal after years of growth.

“People are thinking, ‘Oh my gosh, if the top is struggling to find applicants, what are the rest of us going to do?’” said George Andrews, director of admissions at Rice University’s Jones Graduate School of Business, which saw a 27% drop in full-time M.B.A. applications to 587 this year.

Representatives of Harvard and Wharton declined to comment. A Stanford spokeswoman said that the number of applicants will vary from year to year, but that an M.B.A. degree and the Stanford experience remain valuable.

The M.B.A. was once considered a prerequisite for climbing the management ladder at many major American corporations. But as students have sought out shorter and more specialized degrees, applications have been scattered across a wider array of schools and types of business degrees, further weakening the M.B.A.’s hold on distinguishing high-performing talent to employers.

GMAC’s survey this year included a record 1,087 business-school programs, including 571 M.B.A. programs. In 2015, it included 641 business degrees, 426 of them M.B.A. programs.

“The growth of new M.B.A. and master’s programs across the country has been massive,” Mr. Andrews said. “Are there really enough students to fill all these schools?”

Sangeet Chowfla, GMAC’s president and chief executive, said it is possible business-school applications are bottoming out as the U.S. economy approaches its peak and could rise again in the next recession. But more competition from high-caliber schools in Asia and Europe, combined with the Trump administration’s heightened scrutiny of work programs for international students, could continue to squeeze American business schools, he said.

World-wide, the number of M.B.A. applications was flat from 2017, partly because of an increase in students looking to pursue their degrees in Europe and Asia, according to the GMAC survey. Applications surged 8% to schools in Canada and 9% to schools in East and South Asia.


Soojin Kwon, admissions director of the full-time M.B.A. at the University of Michigan’s Ross School of Business, said that despite a 9% decline in applications in 2018 at the school, she expects highly ranked programs will recover from the recent dip. These M.B.A. programs “provide access to jobs with attractive companies and great salaries, with a strong alumni network. That’s what students are buying,” she said.

Smaller schools likely won’t be so lucky, she added. “Students are questioning whether the value is worth it, and if they can actually get jobs afterwards,” Ms. Kwon said.

Tuesday, October 2, 2018

MBA Applications Plummet: 2018 a Disaster Year for U.S. MBA Programs

MBA applications this past year plunged at 18 of the Top 20 U.S. business schools. Only two schools bucked the trend and not by very much: Dartmouth College’s Tuck School of Business, saw a one percent gain over its year-earlier number, and at UCLA’s Anderson School of Management, applications rose 3.3%.
Just outside the Top 20, only one other prominent school could report an increase: the University of Southern California’s Marshall School of Business, which saw just a one percent uptick. But ten highly prominent MBA programs suffered double-digit declines, including the University of Texas’ McCombs School and the University of Virginia’s Darden School of Business.
There are a couple of quick conclusions once you look at the data. One is that even the very best schools, including Harvard Business School, Stanford GSB and Wharton, could not evade the downturn. The so-called M7 schools, which include those three plus Booth, Kellogg, MIT Sloan, and Columbia, saw a combined 4.7% drop.  Booth saw an application falloff of 8.7%.
SCHOOLS RANKED TENTH TO 25TH SUFFERED TWICE THE DECLINE IN MBA APPS AT THE VERY TOP MBA PROGRAMS
Another is that schools ranked from tenth to 25th suffered twice the decline in MBA applications in 2017-2018 than those in the Top Ten. Altogether, the Top Ten MBA programs experienced a 4.9% fall in applications; the next 15 ranked business schools saw their applications decline by 9.7%.
In several cases, the falloff has been so severe that it is shocking. At Rice University’s Jones Graduate School of Management, there was a 27.7% year-over-year drop in MBA apps. At Vanderbilt’s Owen School of Management, MBA applications plunged 23.9%. And at the University of Minnesota’s Carlson School of Management, applications fell by 20.5%.
In all, 70% of U.S. business schools reported declines in their MBA applications, according to a survey of the schools by the Graduate Management Admission Council. According to GMAC, U.S. business schools experienced a nearly 7% decline in app volume from last year, including a 1.8% decline in domestic applications and a 10.5% drop in international volume across all program types.
AT RICE AND UVA DARDEN, THE DOWNTURNS WERE MADE WORSE BY UNUSUAL EVENTS
By now, the reasons for the decline are well known. International MBA candidates, scared off by anti-immigration talk in the U.S. and concern over their ability to get a work visa, are now applying to European and Asian MBA programs or just postponing their graduate education ambitions. The strong economy is keeping domestic applicants in their current jobs because there already are plenty of opportunities at work. And the sticker shock applicants may experience when they calculate the full costs of an MBA are putting off many others who might be willing to apply and enroll in a two-year program.
There’s no doubt that immigration policy is having a negative impact on U.S. business schools. 
In some cases, however, the falloffs were exacerbated by other issues. At Rice University’s Jones Graduate School of Management, the downturn was made worse by last August’s Hurricane Harvey which dumped 51 inches of rain on greater Houston in two days. 
AT DARDEN, ROUND ONE APPS LAST YEAR PLUNGED BY 27% AFTER THE CHARLOTTESVILLE PROTEST
At UVA Darden, the downturn was fueled in part by the violent white supremacist protest in Charlottesville, Va., last August. As if international candidates needed another reason not to apply to a U.S. business school, the protest which made headlines all over the world didn’t help.
The highly publicized protest scared off many applicants, particularly from abroad, causing round one applications to fall by 27%. 

GMAC: 70% Of U.S. Schools See Drop In Applications

Data from the Graduate Management Admission Council (GMAC) has shown a large, consistent drop-off in application volume at U.S. business schools. 
According to GMAC, which looked at graduate- and doctoral-level programs that saw a combined 466,112 applications during the 2018 application cycle, shows
  1. U.S. business schools experienced a nearly 7% decline in application volume from last year.
  2. A 1.8% decline in domestic applications
  3. A 10.5% drop in international volume across all program types.
  4. Most U.S. programs (53%) surveyed by GMAC reported application declines, including 70% of full-time two-year MBA programs.
  5. Asia-Pacific programs had an 8.9% increase.
  6. Canada realized 7.7% growth.
  7.  Europe had a 3.2% increase in application demand across all program types

Demand for graduate business education is “stable” overall since application volumes are up in Europe, Asia-Pacific, and Canada.

Source: GMAC