Maybe its less of a snub and more of an overdue course correction for a previously over-represented industry? Or, maybe it really is another sign that the golden age of Wall Street was staked through the heart after the financial crisis in 2008. Regardless, the WSJ is reporting that Harvard Business School’s incoming class of 2013 will feature much fewer professionals entering from the financial sector (NYSE:XLF).
According to the Harvard Admissions Dept. the HBS class of ’13 will have just 25% of the entering class taken from the finance sector, compared to 32% of last year’s class. According to Harvard the change is due to two factors, a stronger pool of applicants from outside the financial sector, and an industry (finance) that has decreased in size since the recession, leading to less applicants and lower qualifications on average from those candidates.
Other sector’s that are more represented in this year’s incoming class are manufacturing, with entrants up 14% from 9% a year earlier, Technology, up to 9% from 6% a year ago. Also on the rise were women, with females representing a record 39% of the entering class at HBS.