During one of my B-school interviews I asked a question to the interviewer about the economy and its implications (near and far) on B-school internships and jobs alike - and this is what she had to say - the US economy and its slow growth has definitely had an impact on the internships and jobs...its definitely getting tougher...however that being said companies are looking to lay off senior officials (cut costs in a big way) and junior and middle level analysts - and hire fresh MBA graduates with lower compensations than before...

The deciding factors to land a sold internship/job can then translate to
- clear cut focus on the core area one wants to specialize in (this curtails those demographics who want to explore a multitude(2 or 3 should be fine I think) of options)
- prior research (even before joining the school) on the top 10 - 15 companies one would like to intern/work with...
- the immediate economic concerns has made the recruitment drive even more intensive - with more and more people falling back on the MC/IB options making it the most competitive sectors to get into...

That being said this probably seems to be the most appropriate time to plunge into the MBA experience - or is it not? all you people - please pour in your thoughts/ lets have an active discussion on this very important topic...

Please restrict your thoughts to the implications on B-school and not on the US economy and politics in general...

My honest thoughts on the economy are this - but before I say more, let me give you a bit of a background on myself to preface the opinion:

I'm currently a 2nd year student at Ross. I'm also a career counselor for my MBA peers, and will be going into consulting with one of the big 3.

As far as the economy goes, there's no doubt about it, offers are down this year. Because if this, many students have accepted their summer internship offers, so actual job acceptances this year at this point is up from last year. Instead of having 3 or 4 offers, most students have one or two, and are usually making their decisions between those.

I predict next year will also be a tough year for MBAs. While the marketing firms still seem to be doing strong, there is definitely less demand among I-Banks and a little bit less demand among consulting firms as well. I think consulting is correcting itself after two years of over-hiring and higher than expected yields.

I'd honestly say that if you could put off your MBA for a year or two, do it. Now, this is purely my own opinion and not the belief of any MBA administration, but in my opinion a soft economy leads to a lot more people applying to business school. What that does in turn is increase the # of applicants and the overall applicant quality at a school. With a higher overall applicant quality, you have better candidates fighting for fewer offers. It's a downward spiral all around.

Look for more ex bankers to be applying to schools this year as well.

Again, if you really want to go to B-School or you have no other options other than school then do it. But if you're making decent money now and your job isn't in jeopardy, then it might be prudent to wait a bit.

My 2 cents...

Guys, the economy goes through cycles and I think by the time the 2010 class is graduating the economy will be in a slight boom again and since fewer people are getting hired in 2008 and 2009. I expect these low numbers to be made up with more hiring in 2010 and 2011. Also, since the B-schools are more selective now the employers will be more interested at hiring MBAs in 2010 when this class graduates :)

Hi folks!

I'm writing to all those folks who are in despair after scoring 560 in GMAT. I reassure you guyz, 560 is not a bad score. With this score, I've got admission offer from International Business School, Brandeis University, Massachusetts, USA for MBA fall 2008 entry. What is most exciting is that they've also offered me 50% tuition scholarship (USD 18,336/year). If that was not enough, they also offered me a 10 year 5% fixed rate loan which will contribute another 33% of my tuition. I'll start paying off the principal and interest 6-months after my graduation.

In other words, I'll have to pay only 17% of my tuition and all other living costs from my own pocket in 2 years.

So, no worries, people! Prop up your Essays & Recommendation letters, and you'll also see wonders as I do.

I hope to provide you with some tips on crafting your Essays & Rec letters soon.

Good luck.

Tawhid
Dhaka, Bangladesh
GMAT: 560
IELTS: 8
Work Experience: 3 years in Business Process/Systems Auditing
Member: The Institute of Internal Auditors (IIA) ISO 9000 Series/Quality Management System Lead Auditor

Why?

Last year Stanford accepted someone with a 570 GMAT.

Congrats to the OP.

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Well, my Holiday season was extremely busy this year including trips to the "Great White North" where I grew up, to NJ to see my wife's parents, to Philly for New Years, and finally to the Dominican Republic to visit family on my mother-in-law's side. Thankfully, it was filled with much good news on the MBA application front...

12/7/2007
Accepted at Cornell with an invite to the finalist weekend for the prestigious Park Fellowship (full tuition and stipend)! Needless to say, I'm incredibly excited about this opportunity. The finalist weekend is this Friday and Saturday (1/25-26)... wish me luck!

12/19/2007
What a loooong day this was. Anxiously waited for decisions from both Chicago and LBS. Turns out I was waitlisted by the GSB and ACCEPTED by LBS!

Again, I had a great holiday with two acceptances and three weeks off from work!

1/4/2008
Got word just before boarding our flight to Santo Domingo that I was accepted at Kellogg! Couldn't think of a better way to start a trip =)

So, now the hard part... where do I go? Here are some important factors:

Cornell
positives: really good program, chance for Park Fellowship/probably will get some money in any case , easy move from Rochester, closest to family, easiest transition for Mrs.MBA , lowest living expenses
negatives: Ithaca/still in NYS, not quite as strong as the other schools, not much opportunity to work part time in year 2

LBS
positives: It's in LONDON!, Best international brand, 2yrs international exp (I have none), opportunity to see much of europe.
negatives: COST! (I received no merit scholarships though there is a chance I could get some, but not until after I've committed, exchange from US is terrible right now, high living expenses), risk of not receiving enough loan money, uncertain about employment opportunity for my wife, more difficult to see family, and I have to send the first deposit by FRIDAY 1/25, before I know whether I've got the Park Fellowship.