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Technically, the US economy isn't in a recession. But anecdotally, there seems to be a recession for skilled labor, a white collar recession if you will.![]()
Census Shows Great Recession's Impact on College Enrollment
A challenging economy can drive people back to college to learn new skills but what happens when the labor market improves?www.census.gov
In general, there’s a pretty strong correlation for college enrollment rates to rise when the global economy is in a recession because people don’t have jobs and would rather go back to school than not have a job or have a part-time job.
hopefully, most of us realize that we have been in a recession for most of 2023; thus, the spike in applications is not so surprising!
Its worth mentioning that Dan Stefanica (Baruch's MFE director) said that they do not have a set class size. They simply take whoever they think is qualified, so if you're applying there then the increase in applicants shouldn't discourage you.That said, I am feeling a little nervous now, as my chance of getting into these programs has been cut in half (from an unconditional probabilistic standpoint).
I'm afraid that increased awareness about the lucrative salaries and perks of quant roles will bring up a herd of software engineers, finance majors and math majors into the field and heavily increase the supply thus creating a bad job market for employees. some kind of a nash equilibrium.Given this trend, would it be a wise step to wait for an year and improve my profile for a top program admit or do you think that as the trend continues, more firms will be willing to hire from lower ranked programs as the overall quality of admits will improve across the board.
Feeling a little discouraged! (Want to go for a quant trading role, where I've heard program reputation matters quite a bit)
If I were ever concerned about the supply/demand problem on here I'd simply remember the ratio of QN users who have passed the first C++ course to those who have passed the second and then move on about my day.I'm afraid that increased awareness about the lucrative salaries and perks of quant roles will bring up a herd of software engineers, finance majors and math majors into the field and heavily increase the supply thus creating a bad job market for employees. some kind of a nash equilibrium.
To be honest, I did not apply to any school with a single digit admission rate in 2023. I thought the expected return wasn't worth the time. So I did not apply to Baruch.Its worth mentioning that Dan Stefanica (Baruch's MFE director) said that they do not have a set class size. They simply take whoever they think is qualified, so if you're applying there then the increase in applicants shouldn't discourage you.