Scorned by many twenty-somethings in the years of anything-goes venture funding, business schools are getting a second look. This year alone, 367 Internet companies have gone belly-up. And many of the nearly 83,000 dot-commers laid off as a result plan to wait out the summer with extended vacations — and then go to business school in the fall.
Applications at top B-schools, including Harvard and the University of Virginia, are up an average of 5% to 20% this year after comparable declines last year. At UVA's Darden School, the class is actually overbooked by 25 people. Usually, just one or two extras were on the list. Stanford Graduate School of Business has logged a 120% increase in applicants from high-tech fields.
The University of California-Los Angeles' Anderson School has also seen many more dot-commers and tech folks in its last admissions round. "The last month, we've been getting calls from people who've been laid off asking if there's any way that they can still get into the fall class," says Admissions Director Linda Baldwin. The answer is no.