CEO STORIES: John Byrne, Poets&Quants

REVERSING THE TREND

Applications to full-time MBA programs have been on the decline for the last few years, but it looks like the uncertainty caused by COVID is causing people to seek refuge in B schools – especially the most prestigious ones. Early indications are that this year could be one of the most competitive for applications, for the class that will enter in 2021. Traditionally, online MBA programs were more attractive to part-time students, but now, full-time and part-time students both are experiencing much of their education online/remotely.

MAKING THE BEST OF IT

While full-time MBA students aren’t necessarily happy about losing the in-person, highly social aspects that are traditionally part of such a program, the challenges raised gives them a chance to play an active role in discovering and designing alternatives. This agility will likely be looked upon as a plus down the road by prospective employers, who themselves are grappling with the changes wrought by the pandemic.

HERE TO STAY?

Even when the threat of COVID is behind us, the MBA world will likely never be what it was before, predicts Byrne. And that’s not a bad thing. Schools will have learned what parts of a class or program can be taught more efficiently online or remotely; there will be less emphasis on in-person school visits, which will be advantageous especially for foreign students, and more people will embrace and appreciate an online education.