You might be wondering what your chances of admission are if you're an applicant or prospective candidate to a top MBA. And for a good reason—applying to business school requires a lot of time and work, so you want to be sure it will be worthwhile in the end. So let us talk about MBA acceptance rates for the class of 2023. By analysing this data, some intriguing and perhaps unexpected conclusions concerning selectivity in institutions become apparent.

The fact that institutions like Harvard and Stanford are turning down MBA applicants with stellar credentials and high GMAT scores shouldn't come as a surprise. Many of these incredibly worthy applicants with top-notch applications get rejected before they even get to the interview stage. The most selective applicant pool is drawn to these well-known, elite business schools. In fact, admissions staff at the best MBA programs acknowledge that up to 80% of applicants are entirely competent to enrol in and successfully finish an MBA. These institutions must be selective in the admissions process due to intake constraints and the large number of applications they receive, which results in a low selectivity rate. 

Only a small number of candidates get accepted into these prominent business schools, even though most applicants are likely to apply to at least a few top MBAs. While applying, the selectivity index may be consulted because knowing which programs are simpler to get into and which are not would be helpful.

The most selective MBA program is Stanford GSB. 

Only 6% of applicants get accepted by Stanford GSB, according to the most recent data! Yes, only 445 of the 7,367 applicants that submitted applications were accepted. This data was not an anomaly; Stanford's admission percentage has been constant for at least the previous five years at 6-7%. Many of you won't be shocked to learn that Stanford GSB has the lowest acceptance rate of any MBA program in the United States. But some people might be surprised by how selective it is. For comparison, the admittance rate at Harvard Business School was more than twice that of Stanford. If you're thinking about adding a dream program to your list, HBS is statistically simpler to get into from a number’s perspective.

What Comes Next? 

You would be WRONG if you said, Wharton! Sloan, Columbia, and Haas are the three programs that are marginally less competitive than Harvard and Stanford but more so than Wharton. Sloan had a somewhat lower acceptance rate than Harvard last year, to be exact. 

You might be wondering why Sloan, Columbia, and Haas are so picky. Experience suggests that these three programs, especially Sloan and Haas, place a greater emphasis on cultural fit. Unless you truly take the time to get to know Sloan and Haas and what they look for in applicants, you will probably fail at Sloan and Haas if you merely aim to flood the top 5–10 programs with applications to see what sticks.

They receive more applications because of their well-known brand on a global scale and, particularly for Columbia, their highly sought-after location for both domestic and foreign applicants. After other programs stopped providing this COVID-related accommodation, Sloan kept up its GMAT waiver option, which may have increased the number of applications.

Contact us at the MBA Center if you need assistance focusing your search or want a professional assessment.

Also read: Demand for financial analysts with the CFA is falling rapidly.