Special Report/MBA Admissions/Trends in Business Education: Chicago-Booth Reports Highest Ever Enrollment

News/Special Report/Business Education/MBA Trends/MBA Admissions:
WCW Special Report: Top MBAs are reporting the smallest "summer melt"; at Chicago-Booth, this means the largest enrolment in its history

by the WCW Editorial Team

"Summer Melt" has nothing to do with ice-cream in the noon day sun on a hot day. It is a jargon term used by the leading business schools to describe a trend of MBA students who are accepted and the relationship to how many actually enroll once they are admitted. Everyone knows that MBA applicants apply to more than one business school. Considering the increase in MBA applicants and the nature of the competition, this is the wisest policy. This accelerated trend is not just an American phenomena but also applies to the leading MBA schools in Europe and the UK as well.

This year, it is assumed will be another bumper crop for the business schools. If you are thinking of applying for an MBA, you should begin the MBA admissions application process as soon as possible. Get professional help, if you can. Every risk you can eliminate, and every strength you can grab on your side, jump to it. You will receive no mercy from the top business schools. The reason is simple. They are spoiled for choice. The recent news from Chicago-Booth is a case in point.

The Case of Chicago Booth
The 592 first-year MBA students who started full-time classes at the University of Chicago Booth School of Business on September 24 represent the largest number of incoming students in the school's history, and coincides with the smallest "summer melt" ever recorded by this academic institution.

"Summer melt" is MBA school jargon for what happens when students who accept an offer
of admission for the autumn term abandon their deposits and decide not to enrol after all, either for work-related or personal reasons. Perhaps this is due to the economic climate of uncertainty. For the moment, this trend is hard to evaluate but certainly deserves some reflection, particularly when you take into consideration the seize of the deposits demanded by the business schools to "keep" seats.

"This year, our summer melt was negligible compared to what it was in the past," said Stacey Kole, deputy dean for the full-time MBA programme. "Because of our high yield this year, we had to turn away many extremely talented candidates on our waiting lists," she said.

"Several factors likely contributed to the higher enrolment and lower summer melt this year, including our stronger brand presence in the US and globally," Kole said. Chicago Booth has taken steps to raise its visibility, including increased use of advertising and marketing, she said.

It should be noted that Chicago Booth is not the only school to raise its visibility in global markets.
At Chicago Booth, the result is that the school has 1,169 students enrolled, including the first and second year cohorts.

Class Profile
The incoming MBA class includes 35 percent women, equalling the record high set last year. The average age of the new students is 28, and many already hold other graduate degree qualifications. Sixteen percent of the students are married and 36 percent are from outside the USA. If you are a non-American MBA applicant, your chances of admission are less.

The largest group of international students is from India (34 students), China (16), Canada (15) and Brazil (14). These figures are indicative of the high number of applicants. If your profile is from one of these countries, reckon on extremely tight competition to get admitted.

The number of students from Western Europe increased to 40 this year from 24 last year, led by a big
jump in students from France. This is great news for Europeans, and particularly the French. In the interets of building a wider cultural base, Europeans with excellent profiles and outstanding MBA applications have more opportunities to get accepted to a top MBA of their choice.

The Class of 2011 includes 10 students from France, compared with six last year and two in 2007. Enrolment from Asia declined to 78 for the Class of 2011 compared with 94 a year ago.

(None of the above figures include EMBA students studying in London and Singapore).

GMAT
The typical student scored 714 on the Graduate Management Admission Test (GMAT) and had an undergraduate grade point average of 3.53. GMAT averages have been on the rise for the last several years. MBA applicants should make a strong effort to see that their scores fall into the 680-700 range.

In the past, breakeven scores of 650 were acceptable. This is now diminishing with a new breakeven score of 680 as an "unofficial" minimum for admissions. The role of the GMAT causes many people a great deal of anxiety. Few schools turn a blind eye or make exceptions.

If you are an MBA applicant, it is advisable not to put your application at risk.

For Further Information

For those people interested in the latest trends in MBA business education, the MBA Rankings, MBA admissions procedures, and other issues concerning how to increase your chances of meeting your MBA targets, Visit the mba4success Business Education News Network on: http://www.mba4success.com

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