Friday, September 27, 2013
Wall Street Journal: What's Wrong With Wharton?
Business-School Experts and Students Say School Has Lost Its Luster:
Something at Wharton doesn't add up.
Applications to the University of Pennsylvania's business school have
declined 12% in the past four years, with the M.B.A. program receiving
just 6,036 submissions for the class that started this fall. That was
fewer than Stanford Graduate School of Business, with a class half
Wharton's size. ...
But business-school experts and b-school applicants say Wharton has
lost its luster as students' interests shift from finance to technology
"We're hearing [applicants say] Stanford, Harvard or nothing. It used
to be Stanford, Harvard or Wharton," says Jeremy Shinewald, the founder
of mbaMission, an admissions advisory firm.
Wharton over the past century built its reputation as a training ground
for Wall Street titans, but the financial crisis closed off many paths
to such careers. The school in the mid-2000s regularly sent more than a
quarter of its students to jobs at investment banks and brokerage firms.
That figure has slid into the teens. ... Some admissions advisers and Wharton professors say the school didn't
react aggressively enough when the spigot of finance jobs was turned off
and that recent moves, such as a rebranding campaign begun in the
spring of last year, did little to clarify the school's profile.