Accepted Admissions Almanac

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See you at the Accepted Admissions Almanac.

New MBA Admissions Resources on Accepted

Accepted is continuing to post transcripts from recent chats and to add to its rich resources for MBA students:

• In "Three Tips to Reduce GMAT Test Anxiety" Bara Sapir of NY Test Prep provides three important suggestions to reduce test anxiety. Check out these tips if your knees shake when you start to think about test day. Also, learn about a NY Test Prep discount for Accepted clients and visitors. (BTW, Accepted has hosted 186 MBA admissions chats since 1999, most of them with admissions directors at top programs from around the world, and 29 chats in the most recent admissions cycle.)
• 2008 Michigan Ross Part-Time Admissions Chat with Jim Hayes. Ross assembled an impressive team for this chat including a current part-time MBA student and representatives from career services, admissions, and academic services. If you are considering Ross' part-time program, check out this transcript.

MBA Admissions: Gazing into the Crystal Ball for 2009 Applicants

It's nail-biting time for a lot of people. The business climate is stormy. The news is gloomy. Uncertainty thunders over the horizon.

So why am I going to attempt to predict the future? Because I've lived through downturns before.  The recession that followed the dotcom bust and 9/11 caused a precipitous decline in MBA hiring and consequently in MBA application volume.  It's instructive.

If articles start to appear about b-school grads without jobs, application volume will decline. Sharply.  If hiring remains reasonable and most grads find jobs, even they don't receive super-sized bonuses, application volume will level off and perhaps decline slightly, but you won't see the dizzying drop that business schools experienced in 2002 and 2003.

One "leading indicator" of MBA application volume is GMAT test-taking and registration volume. For the first two months of 2008, those numbers have headed north, but mainly because of sizzling interest overseas.

"The number of GMAT registrations in the United States during the first two months of calendar year 2008 increased 5.53% compared with registration volume during the comparable period in 2007. Outside the United States, registration volume increased 24.22% during the period."

"The number of GMAT tests taken in the United States during the first two months of calendar year 2008 increased 7.08% compared with testing volume during the same period in 2007. Outside the United States, testing volume increased 21.92% during the period."

If the US economy remains in the dumps, I expect US b-school application volume to soften, especially if MBAs can't find jobs. Barring 9/11-type events or a sudden increase in the dollar's value, international demand for top business programs around the world will remain strong, probably stronger outside the US than in.

Implications: US MBA applicants could find opportunities if they apply this fall and take the MBA plunge in Fall '09.  I expect that outside the top 10-15 schools competition will ease and applicants could gain entry to schools they didn't have a chance at this year. I don't think the softening will be as marked in the top tier.  Overseas, US applicants may find that top international schools are much easier to get into and much harder to pay for.

For international applicants, especially those coming from countries like India that are over-represented in the applicant pool, competition will remain intense, especially in the top tier schols. 

For those of you wanting to accrue the benefits of a timely or even early start to your '09 MBA admissions attempt, Accepted has two services just for you:

• Start Smart, our new, monthly mentoring program.
• Pre-season Consulting ($20 off during April) for those of you who just want to have a one-time consultation with an MBA admissions expert. 

Time will tell whether this post is genuinely prophetic or just a symptom of April Fools' Day.

New Accepted Content

We recently added the Consortium transcript and an additional GMAT article to Accepted.com. Here are excerpts:

• Consortium Student Chat Transcript

mba2008 (Feb 5, 2008 8:10:33 PM)
What advice would you give us in preparation for returning to (a) the orientation program and (b) returning to school?

RayHernandezDARDEN (Feb 5, 2008 8:11:37 PM)
School can be overwhelming when you start. If this link still works, this talks about transitioning into the first year http://www.businessweek.com/bschools/content/sep2007/bs2007096_544524.htm

AprilTaylorINDIANA (Feb 5, 2008 8:11:41 PM)
Definitely get some rest before starting school...It goes by fast!

BernieTraywickEmory (Feb 5, 2008 8:14:47 PM)
MBA 2008 -The OP will be a great advantage for you. Make sure you research the companies you may be interested in so that you can have a good interview. It will give you a great head start in your search for an internship. You may have the internship before you start B-School which will make it easier for you to focus on school.

• "Top 5 GMAT Study Tips" by Chris Ryan, Director of Instructor and Product Development, at the leading test prep company, Manhattan GMAT.

1) Go to the source.

Many religions have holy books, right? The Official Guides from the GMAC, in their orange, purple and green splendor, are the holy books of the GMAT religion. Every other book, as good as it may be, is just commentary. Only the Official Guides contain problems retired from the real GMAT. Thus, your efforts must be centered on the Official Guides.   

The other "holy" source is GMAT Prep, the free practice-test software that you should download from mba.com. This software has its drawbacks, but it also has two unique benefits: it uses the real GMAT algorithm, and even more importantly, it contains retired GMAT problems, many of which aren't in the Official Guides. There are two tests offered on this software; you should consider 'saving' at least one of them for later in your preparation to use as a measuring stick. The GMAC folks have told us that they plan to release more products soon; these should also become part of your GMAT preparation depot.   

Though the GMAC sources are the best, don't ignore third-party resources. Not surprisingly, I believe that the ManhattanGMAT resources are great. For instance, our computer-adaptive exams supply crucial explanations and analytics that GMAT Prep lacks. Our Strategy Guides break down the core principles and give you lots of relevant practice.   

But one way to measure the greatness of any third-party product is the degree to which it reflects the content of the GMAT. And when it comes to the content of the GMAT, GMAC products have no equal. (This is why ManhattanGMAT's curriculum is built around the Official Guides, which all of our students receive.)

For the remaining tips and a 10% discount on Manhattan GMAT courses and tutoring, please click on  "Top 5 GMAT Study Tips"