The College of Charleston School of Business‘ one-year MBA program has changed their admissions requirements in response to COVID-19. The decision was made to ease the stress of the application process and to support professionals who have been laid off due to the pandemic.

Effective immediately, the nationally-ranked program has waived its $50 application fee. Additionally, GRE/GMAT test waivers are available upon request for qualified individuals. The general application deadline has also been extended to June 1, 2020.

According to a 2012 study by Stanford University, millennials who graduated during the Great Recession of 2008/2009, earned less, on average, over the next 10-15 years when compared to colleagues who graduated during a strong economy. To delay entry into the job market, could save a graduate nearly 30-40% in wage losses over a 10-year period. Now, more than ever, is the time for individuals to consider furthering their education.

“We understand the immense pressure that many are feeling during the COVID-19 crisis,” says MBA admissions director Seaton Brown. “Pursuing a graduate degree is a great option for those who have been laid off from their jobs or who are graduating into a recession.”

But the value of an MBA is strong in any economy. According to Keyana Russ, the College’s director of MBA employer relations and professional development, for mid-level managers or employees looking to fast track their careers, an MBA is the stamp of approval often needed to stand out in a competitive job market. And Brown agrees, “a bachelor’s degree is the new high school diploma. A master’s degree shows a prospective employer your commitment to the industry long term.”

The value of a Charleston MBA is enhanced by the executive network and professional development resources that the program provides to students across industries and job functions. And the proof is in the data. The College of Charleston MBA program was recently named first in the nation for job placement three months after graduation by U.S. News & World Report 2021 Edition. This is based on data provided by the 2019 cohort — whose average salary increased by 39% after graduation.

The College of Charleston School of Business continues to make decisions that help professionals to excel in their careers. Although COVID-19 has affected the local and national economy, the MBA program is committed to delivering a top-notch master’s education and post-graduate placement.