MBA programs have started to release profiles for their entering classes. Poets & Quants highlighted a consistent downward trend in MBA application volume from last year’s admissions season. With a low unemployment rate, and many corporations paying top dollar to retain or attract talent, business school applications declined at many schools, even at the most prestigious (with Cornell Johnson as one notable exception). The declines are most concentrated among domestic applicants. Schools that have reported their Class of 2024 profiles note record-breaking diversity numbers and increases in the number of international matriculants.
UPenn (Wharton)
Last year, Wharton applications declined by 13.9 percent. While the school does not report their acceptance rate, Poets & Quants estimates it to be approximately 25 percent compared to an estimated 18 percent the year prior.
The average GMAT score remained steady at an (record-breaking) average of 733.
The full-time MBA class maintained gender parity. Women make up 50 percent of the class. This is down slightly from last year’s 52 percent. International students now comprise 35 percent of the class.
NYU (Stern)
NYU’s application volume decreased ten percent last year and matriculation decreased 11 percent. Stern’s acceptance rate increased to 27 percent from 19 percent.
The entering class set a new record for both average GMAT scores—733 from 729—and GPA—3.62, up from 3.59.
Women make up 45 percent of the class (a record), and underrepresented ethnicities make up 21 percent. Just under half, 44 percent, hold international citizenship.
UVA (Darden)
Applicant volume decreased just 3.5 percent last year at Darden, a relatively small change compared to other programs.
The entering class set a new record for average GMAT score—720 up from 715.
In terms of diversity, the entering class boasts the highest ever percentage of international students (43 percent), first-generation college graduates (16 percent), and LGBTQ+ students (8 percent).
Columbia
Columbia’s application volume decreased by 5.5 percent last year and the school increased its number of admitted students by just over 12 percent. The school’s acceptance rate increased to 22.1 percent from 18.6 percent the year before.
The entering class reported GMAT scores consistent with the previous year (729), and an increase in average GPA—3.6, up from 3.5 the previous year.
Columbia’s entering class includes a record-setting proportion of women (45 percent), international students (51 percent), and minorities (42 percent).
Cornell (Johnson)
Applicants to Johnson increased by over 21 percent last year, compared to the year before, and the school also maintained its class size.
The class maintained its quality metrics, with the average GMAT score the same as the previous year (710). The average GPA declined just slightly—3.3, down from 3.34.
The Class of 2024 also saw a sharp uptick in the proportion of international students—43 percent compared to 35 percent the year before. The percentage of women in the class (39 percent) stayed consistent with the prior year, while the number of underrepresented minority students declined—16 percent, compared to 25 percent the year before.
Michigan (Ross)
Applicants to Ross decreased by 9.3 percent last year with a corresponding 4.5 percent decrease in class size. Similarly, the school’s acceptance rate increased to 28.1 percent from 20.2 percent the year before.
Despite the decline in applications, the average GMAT score—720, down from 722—and GPA—3.5, down from 3.53—for the entering class remained on par with the previous year.
The proportion of international students increased to 36 percent (a record), as did the U.S. minorities (42 percent, from 36 percent), first generation college graduates (14 percent), LGBTQ+ (9 percent), and students with military backgrounds (7 percent). The proportion of women, on the other hand, dipped slightly below the level seen in recent years (42 percent, from 46 percent the year before).
UCLA (Anderson)
The number of applicants for Anderson’s entering class declined 20 percent, with a corresponding 8.3 percent decrease in the number of enrolled students.
The average GMAT score declined to 711, from 714 the previous year (although the average is higher than that seen for the Class of 2022), and the average work experience increased to six years, up from five years.
While the proportion of international students increased considerably to 47 percent, up from 36 percent, the percentages of both women (35 percent) and minorities (28 percent) declined for this class compared to the one previously.