Wall Street Journal: Number applying to University of Michigan MBA program down 17 percent

The drop mirrored a worldwide trend: The median number of applications fell 22 percent worldwide, the newspaper reported. It was the fourth consecutive year of declines, but for some schools, the drop follows years of gains fueled by fewer employment opportunities during the financial crisis.

While some top schools saw sharp declines in the number of applications, others, such as the Anderson School of Management at the University of California, Los Angeles, enjoyed an increase.

The statistics were compiled from the Graduate Management Admission Council, which administers the Graduate Management Admission Test.

• Read the Wall Street Journal article.