Effect of Economy on Fall '08 Application?
How much do you guys think the recent downturn of the economy will have on my chances of getting into a top 15 B-School, given that I plan to apply in the fall of 2008? My stats are top 10 undergrad business school, Accounting major, 710 GMAT, 3.6 GPA, CPA with Big-4 and currently working in Corp Finance (will have 4 years work experience when I start B-School). Starting to get stressed that the crap economy will create much more competition than I had thought...
if you have a good story for why, you should have no trouble getting into a top 10 program with your stats.
In truth, yes the applicant volumes tend to go up when the economy is in a downturn. Applications spiked in the early 90s, 2002 (before hitting a 10-year low in 2004).
However, you're stressing about something you can't control. All you can control is what you do with your applications - just make sure you do the best you can on the written applications, and hope for the best. Not much else you can do.
Alex Chu
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