Editorial
credit crunch
Women, MBAs
and the credit crunch

With every day bringing more gloomy headlines about the credit crunch and its effect on the uK
and North America, it is no surprise that a cloud of uncertainty has formed over certain business
sectors such as financial services, writes Caroline Parry.
he tough economic environment “Applications from women have been five to six rise in part time applications, which allow
T
has left many questioning what this per cent down over the past two years, but looking candidates to work while studying. While Judge
will mean for MBA and executive at the number of people still to declare if they are is reporting a 45% increase in female
MBAs applications, particularly going to start this year or that have deferred, 40% applications to its full time MBA, Siegfried
from women. The challenge of of those are women.” admits that business schools are facing a variety
increasing the number of female candidates has He adds that there is a “healthy number” of of issues around female recruitment, including
been tough for business schools in happier students overall but with less credit available, increased competition from new methods of
economic times, let alone as the fear of recession many students are waiting to hear if they will studying for an MBA. She also believes improved
hangs in the air. receive scholarships, with many unable to proceed working conditions, such as home working,
This climate tends to lead to two distinct without such funding. mean women are able to stay in the work force,
reactions, says Karen Siegfried, FT MBA Director Coonrod believes that women are more but it does not necessarily help with career
at Judge Business School at Cambridge. “People affected by funding issues than men, particularly development through training.
that are losing their jobs, or feel they are about to, if candidates are considering executive MBAs. She The main conflict of interest for female
see it as an opportunity to go back into education; explains: “Many women do not believe that they candidates is the age-old dilemma between family
it offers them a safe haven and the chance to make will see the 'payback' for the investment, and thus and career. Nuria Guilera, marketing director for
the transition from one sector to another. Other tend to self-select into lower cost programs or MBAs and Executive Masters at ESADE in Spain,
people think it is the worst time to jump and want online programs.” admits that attracting women to the executive MBA
to stay safe in their jobs.” is a “difficult task” for this reason.
So far, business schools are remaining Part time MBAs She adds: “The average age in the EMBA is
optimistic about the future with a It is perhaps no coincidence 33, which is a complicated age for women as they
majority saying that admissions, from that many business schools reach a point in life when they have to decide
men and women, are increasing are reporting a if they want to
year-on-year with many new
nationalities also applying.
Female applications
Joan Cowan Coonrod,
Director of Executive MBA
Admissions for Goizeuta
Business School in Atlanta,
says anecdotally a recessionary
climate tends to impact women
most, but at this point it has not seen “a
measurable decline” in female applications.
However, she adds: “Our largest class enrols in
January, and this is where we might expect to see
the effect of the credit crunch.”
Meanwhile Paul Healy, MBA marketing
manager at Manchester Business School, has
already seen a more pronounced effect.
14 TopMBA CAreer Guide www.topmba.com
MBA_FALL_08_pp_002-065.indd 14 11/8/08 18:05:07
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