The National Law Journal reports that the percentage of women applying to law school has been declining for the last several years.

"Since 2002, the percentage of women in law schools has declined each year, according to the American Bar Association. Five years ago, women made up 49 percent of law school enrollment. This year, 46.9 percent of law school students are women. And while the number of applicants overall has dropped in the past two years, the percentage decline in the number of women has been greater."

The article profiles one young woman who had considered law school and decided to become an analyst at Morgan Stanley and discusses possible causes for law's tarnished luster and attraction, not the least of which is the billable hours requirements at top law firms.

I believe there is probably another factor too: Business and business schools have become much more effective in attracting women. MBA programs are encouraging applicants to apply earlier in their career, which means that business careers and family are not as frequently in direct conflict. Additionally, you now have an excellent organization, the Forte Foundation, dedicated to increasing the percentage of women going to business school  and entering positions of leadership. And slowly but surely, women are coming to see business as providing more flexibility and options than law, as I have maintained for years (Please see "Women, Entrepreneurship, and Kids").  In a nutshell, business schools' gain is law schools' loss.

There is lot's happening in MBA-dom. Here is a brief survey

• Accepted is launching its annual series of chats with directors at top schools next week, Wednesday, Sept. 12 at 10:00 AM PT/1:00 PM ET/5:00 PM GMT when Beth Flye, Assistant Dean and  Director of Admissions and Financial Aid at the Kellogg School of Management will participate in a Kellogg admissions chat in the Accepted chat room.
• The MBA Tour is continuing its series of fairs. This week it's:

Sep 8, 07    Los Angeles
Sep 9, 07    San Francisco
Sep 11, 07    Washington DC

• Tuck reports record numbers for its class of '09. "Entering students boast the highest percentage of women (35 percent), highest proportion of international students (36 percent), greatest percentage of European students (nine percent), and highest average GMAT score (713) in the school's history."
• Darden also reports a record number of women in its class of '09. According ot The Daily Progress of Charlottesville. "women represent 31 percent of 318 students total. Last year, women accounted for only 21 percent of Darden’s new class." That is a whopping increase.
• The Forte Foundation is having an excellent series of events for prospective MBAs called the MBA Value Proposition. The events will take place around the world in September and October. Forte is devoted to "substantially increasing the number of women business leaders."
• BusinessWeek will host me (how's that for a role switch!) on September 18 in an online "Admissions Consultant Chat" when I shed my moderator's aloofness and get into the thick of answering your questions. You can pose your questions during the chat live, or send them to Francesca Di Meglio (Francesca_DiMeglio@businessweek.com)

There is no shortage of MBA admissions information, or media for presenting that data. Here are a few excellent podcasts I have come across in the last several weeks:

• "GMAT Not Required?: Which B. Schools Are Removing the GMAT Requirement from Admissions Criteria?" discusses EMBA programs and the pros and cons of requiring the GMAT for this applicant pool. Some say it maintains the credibility and rigor of their EMBA programs (Wharton and McCombs); others, like Kellogg, Chicago GSB, Ross, Anderson and Cornell’s Johnson School, say it doesn't predict participant success in the program for this more professionally advanced group of students and therefore don't require it. A third group requires it for some EMBA programs and not all (UNC, Duke Fuqua), and a fourth requires it but will grant a waiver for those who are technical degree holders or those with extensive professional experience (NYU, Emory).
• Forte Podcasts: The MBA Value Proposition. In Forte's last podcast in a series of three Julie DeWitt, Manager of Business Recruiting at Eli Lilly and Co.; Mira Graetz-Ball, Managing Director at MetLife, and Katherine Bair Desmond, Manager of Recruiting for North  America at McKinsey discuss why they recruit MBAs, the importance of diversity in their respective industries, and advice they would offer to MBA wannabes. Although the program is geared to women, it is beneficial for both genders.
• Haas Healthcare Management Programs. Kristi Raube, Executive Director, Graduate Program in Health Management, provides information on the MBA/MPH program and compares it to the Haas Certificate in Health Management within the MBA program. She does an excellent job of laying out the relative strengths of the two approaches, the curriculum of each one, and the job opportunities available to graduates of both. It is a succinct, informative podcast recommended if you are interested in a career in bio-industry or healthcare management.
  

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The Interview Type. Is it blind (where the interviewer knows only what’s on your resume and what you tell him or her)? Or is it informed with an interviewer who has gone thoroughly through your file (for example, HBS or MIT). If blind, then you can use material from your application because that material presents your most impressive experiences, and it will be new to your interviewer, but don’t limit yourself to that material. If you are interviewed by someone who has gone through your file, prepare to address weaknesses and gaps and also be ready to bring something new to the interviewer’s understanding of you. Know how to go deeper into the stories you have told and prepare to tell additional anecdotes.

Whether blind or informed, make sure to tell your interviewer of important developments that have occurred since you submitted your application – a better GMAT score, an A in calculus, a promotion, leadership of a new project, a community service initiative… This last step is particularly important if you are interviewing at schools like Harvard and Wharton, which in the past have discouraged or not accepted new information from applicants after the application submission date -- even if the information is highly relevant and/or the applicant has sat on the waitlist for months. (Please see Submitting Additional Material to Wharton? Think Twice)

Now that I’ve told you the Need-to-Knows, aren’t you dying to know the one nice-to-know? Tomorrow, I’ll reveal the nice-to-know and finish up this series with a few resources.