WSJ article: Business School? No Thanks

October 20, 2011
Lucas Weingarten

This is an interesting article.  Turns out, applications to business schools have been declining for the last three years running.  I remember the opposite was true when I entered business school.  We were right at the beginning of the economic crisis (at least, the beginning as noticed by the general population).  Most of the speculation about why applications were up centered on the newly unemployed looking to make the best of a bad situation.  Made sense.  Heck, it makes sense.  So why the shift?


The current idea is that prospective b-schoolers aren’t so sure about the ROI of an MBA.  What’s the use of taking on significant debt load if your prospects of landing a position that will let you take care of that debt load (and then some) are abysmal?  Good question.  Market uncertainty is always a killer.


Still, the reporter does point out a bright spot in the pessimism that’s causing the grad school down turn: less applicants means increased acceptance rates.  But, you need to get while the gettin’s good.  According to GMAC, the number of test takers is now on the rise again, and that number has been a leading indicator of future would-be MBAs tossing their hats in the ring.

Lucas Weingarten Lucas Weingarten is a full-time instructor for Kaplan Test Prep and he loves preparing GRE students for Test Day. The classroom is Lucas’ arena. When he cannot be found in one of Kaplan’s cage matches of learning, he is very likely dancing around DePaul University’s College of Commerce/Kellstadt Graduate School of Business in Chicago professing various courses offered by the Department of Management, up to and including monikers such as: “Managing for Effective and Ethical Organizational Behavior,” “Entrepreneurship Strategy,” “Strategic Managements and Analysis,” “Human Resource Management,” “Recruitment and Selection,” and “Foundations of Business Thought and Theory.” (Although that last one was cancelled just before the quarter started and he’s still not gotten over it.) Lucas spent most of his formative years in North Carolina, but hit the long road as soon as he was able. A world traveler with a currently expired passport, he has lived on and wandered around three continents with the expressed intention of finishing the job. He holds a BFA with a concentration in sculpture as well as an MBA with dual concentrations in Entrepreneurship and Finance. When not challenging standardized tests to a duel or wondering how to corrupt the business students of America, Lucas can be found brewing delicious beers, riding-then-fixing-then-riding his motorcycle, hanging out with dogs, pretending he’s a good cook, and feeling like the luckiest guy in the world to have such a fantastic wife and endlessly amazing young son. He’s in Milwaukee now, but is in Chicago often. Email him anytime about anything at:

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