>People flooded into school thinking "school is a safe place to hide during a recession". This led to large crunches every subsequent year.
Another data point is NYC Business Schools. Lots of people in finance applied to, say, Columbia business school during the crisis, and thus around 2012 there was a huge plummet in applications there as the industry (a) started to recover a bit, and (b) it became clear that the rewards from a career on Wall Street would be much smaller than in previous decades.
Another data point is NYC Business Schools. Lots of people in finance applied to, say, Columbia business school during the crisis, and thus around 2012 there was a huge plummet in applications there as the industry (a) started to recover a bit, and (b) it became clear that the rewards from a career on Wall Street would be much smaller than in previous decades.