Another article has come out talking about the slow down or at least temporary decline in MBA applications (and upswing in master in finance applicants). I honestly think this is a non issue. When the economy is bad or unsure, people opt for what they know, not the unknown. It is a huge leap of faith to quit your job in bad times with an unknown environment in two years.
With that said, my big take away from this article and the underlying GMAC research is that more people are applying to specialized masters programs. Many people use an MBA to transition into finance or advance their skill set/career. If you can do that with a 1 year, specialized degree, it makes sense to do so. You save 1 year of opportunity cost, less student loans, a more focused education and you can keep that MBA card in your back pocket for when the economy does turn around. Also, if you use an MSF to get a “blue chip” job vs. waiting 3-5 years in a less ideal field, you can actually improve your top MBA chances.
Here is the link to the underlying research from the GMAC