/9918578/Banner

/9918578/Banner_2

/9918578/Mid

section

articleId

product

orgType

parrefer

accountID

Consulting

Banking

Accounting

Fintech

Internships

Rankings

Internship Rankings

Intern Resource Center

Explore Internships

Vault Law Home

Practice Area Resource Centers

Regional Resource Centers

Summer Program Resource Center

Vault Law Culture & Inclusion Survey

Vault Law

Guides

Events

Financial Services

Technology

Grad School

Work Relationships

Productivity

Diversity, Equity & Inclusion

Social Impact

Remote Work

Negotiating

Changing Jobs

Workplace Issues

Blog

Resume Samples

Cover Letter Samples

Interview Tips & Questions

A Day in the Life

International

Career Readiness

Explore Professions

Research Industries

Search Companies

Career Advice

Employers

Schools

&lt;p&gt;They are an unfazed bunch, those prospective MBAs. Poor economic conditions or no, they&amp;rsquo;re gonna go go go. There&#39;s no stopping them.&lt;/p&gt;&lt;p&gt;From a recent GMAC survey on prospective MBA students:&lt;img style=&quot;float: right;&quot; src=&quot;http://www.vault.com/VCM/blogs/i_want_my_mba.png&quot; alt=&quot;&quot; width=&quot;222&quot; height=&quot;251&quot;&gt;&lt;/p&gt;&lt;blockquote&gt;&lt;p&gt;Although economic conditions appear to have an effect on GMAT exam volume in general, the economy had little effect on mba.com registrants&amp;rsquo; desire to pursue a graduate business education. About half (51%) stated that economic conditions did not affect their likelihood to enroll in a graduate business program. About a third (36%) stated that economic conditions increased the likelihood of enrolling, and only 13 percent were dissuaded by an adverse economy. In fact, only 1 percent of respondents indicated they decided not to attend graduate business school, which is consistent with the long-term findings from mba.com registrants&amp;rsquo; studies that GMAC has conducted since 2003, when the economy was emerging from the last recession.&lt;/p&gt;&lt;/blockquote&gt;&lt;p&gt;History has shown that when the economy goes down, grad school applications go up. The conventional wisdom is to seek shelter until the storm passes, so that part of the survey&amp;rsquo;s results isn&amp;rsquo;t very surprising.&lt;/p&gt;&lt;p&gt;More interesting is the average prospective MBA (registered on mba.com) timeline for applying to business school.&lt;/p&gt;&lt;p&gt;&lt;strong&gt;The average MBA applicant timeline:&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;Completes first degree &amp;rarr; 27 months &amp;rarr; considers business school &amp;rarr; 19  months &amp;rarr; registers on mba.com &amp;rarr; 4 months &amp;rarr; takes GMAT &amp;rarr; 1 month &amp;rarr;  submits first application&lt;/p&gt;&lt;p&gt;Average length of process, from consideration to application: 2 years&lt;/p&gt;&lt;p&gt;&lt;br&gt;&lt;/p&gt;&lt;p&gt;&lt;object style=&quot;display: block; margin-left: auto; margin-right: auto;&quot; width=&quot;534&quot; height=&quot;434&quot; data=&quot;https://www.youtube.com/v/HgzGwKwLmgM?fs=1&amp;amp;hl=en_US&amp;amp;rel=0&quot; type=&quot;application/x-shockwave-flash&quot;&gt;&lt;param name=&quot;data&quot; value=&quot;https://www.youtube.com/v/HgzGwKwLmgM?fs=1&amp;amp;hl=en_US&amp;amp;rel=0&quot;&gt;&lt;param name=&quot;allowFullScreen&quot; value=&quot;true&quot;&gt;&lt;param name=&quot;allowscriptaccess&quot; value=&quot;always&quot;&gt;&lt;param name=&quot;src&quot; value=&quot;https://www.youtube.com/v/HgzGwKwLmgM?fs=1&amp;amp;hl=en_US&amp;amp;rel=0&quot;&gt;&lt;param name=&quot;allowfullscreen&quot; value=&quot;true&quot;&gt;&lt;/object&gt;&lt;/p&gt;&lt;p&gt;[GMAC]&lt;/p&gt;

Vault Education Editors

Article

How to Prepare for a Career Fair

Do Liberal Arts Majors Have an Advantage in the Age of AI?

Find a Mentor This National Mentoring Month

Hey Students, How Are Those New Year's Resolutions Going?

The Library