derek245

Like Crucial BBQ, I am also a bit older and thus I remember 2008 all too well. In fact, I finished my undergrad degree and was looking to launch my career just as the economic crisis was solidifying. All I can tell you is, in terms of achieving your goals, EVERYTHING is harder during an economic crisis. Getting into your preferred graduate program is harder, both because there are less funding spots and because there are way more applicants (that brilliant idea you had to further your education while the job market sucks...it turns out, you're not the only person who has thought of that :). Getting the job you want is obviously much harder. So my advice is, whichever program gives you the best offer, TAKE IT. Don't assume that same offer, or any other offer, is going to be there if you apply next year. Now that being said, I would guess that we're not at the beginning of a 2nd Great Recession. The Great Recession, as far as recessions go, was uniquely dreadful especially consider how long it dragged on for (fun fact: the unemployment rate in 2013 was 8 percent, a full six years after the crisis began). But I would make a sizable wager that many if not most universities -- especially public universities -- will be dealing with budget cuts during the next application cycle, a consideration that will undoubtedly affect how many funding spots are available. So get yours while there is something to be got. Winter is coming.