Wall Street Journal to Wharton: You’re Doomed

The Wall Street Journal reports that Wharton applications are down twelve percent in the last four years. Meanwhile, students find Harvard and Stanford’s MBA programs increasingly desirable.

“We’re hearing [applicants say] Stanford, Harvard or nothing. It used to be Stanford, Harvard or Wharton,” says Jeremy Shinewald, the founder of mbaMission, an admissions advisory firm.

The main reason? Wharton’s got a reputation as a financial industry training ground, and post-financial crisis, kids these days want to be tech entrepreneurs.

“Virgil Archer says he wanted ‘a frothy tech scene.’ Mr. Archer, who is in his first year at the University of California, Los Angeles, Anderson School of Management, says Wharton didn’t have the same entrepreneurial atmosphere.”

Looks like Wharton needs to recruit some more creative thinkers. Like this gal.