As a precursor - I am aware that the b-school admissions process is contingent on a multitude of factors, to the extent that predicting acceptance/rejection is basically a crap shoot.
That being said, I am interested in hearing everyone's opinion on the competitiveness of the admissions process 3-4 years from now. As many first year analysts and qualified undergrads are finding themselves without jobs in banking/PE/etc., I'm inclined to think the caliber of applicants (in terms of work experience) would be decidedly lower vis a vis 1st year MBAs as well as candidates currently applying for admission. This is a sweeping generalization as different schools tend to attract different candidates. Again, however, I am speaking in aggregate terms.
Thoughts?
Business school applications will increase as the economy struggles (general rule of thumb). Now that we are entering a recession, people are beginning to fear losing their jobs, not getting great bonuses/raises, etc, so my guess is that a lot of people will be applying to MBA programs this fall, thus increasing the competitiveness of the pool.
In a few years though, the economy might be doing great and people will not be as eager to take a two year hiatus from working, so applications may decline.
3 years from now is prime time to apply.
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