Is Now The Right Time To Apply To The Top Ranked MBA Programs

Publisher
Fri, 27 Sep 2019 20:26:54 +0000

The economy is strong. Unemployment is low. MBA applications are down. And a recession may be near.

Typically, it takes one about 2 years of preparation for applying to an elite fulltime MBA program. Prepping for the GMAT or GRE, getting professional job related recommendations, interviewing and composing application essays all while working fulltime requires substantial time & effort.

The cost of earning an MBA from a top ranked fulltime program can run as high as $250,000 plus the loss of almost two years of income. While Stanford’s Graduate School of Business has the highest projected cost for a fulltime 2 year program, all top 10 ranked MBA programs are well over $200,000 (tuition, fees, books, room & board) for their 2 year programs.

With these astronomical costs plus the loss of almost two years of income, is it any surprise that applications to the top 25 MBA fulltime programs are down over the past 3 years in this robust economy ?

Last application cycle, one top 25 MBA program received just 741 applications (Indiana) while perennial leader Harvard received 9,228 applications down about 6.7% from the prior year and down 10.8% over the prior three application cycles. Indiana was down an astounding 31.5% from last year, and down over 40% during the last three admissions cycles.

How many applications did each top 25 fulltime MBA program receive during the last admissions cycle ?

Harvard received 9,228 applications a decrease of 6.7% from last cycle
Stanford received 7,342 apps down 5.8%

Penn-Wharton rec’d 5,905 apps down 5.4%
Columbia rec’d 5,876 apps down 2.5%
MIT- Sloan rec’d 5,200 apps down 6.5%

Chicago- Booth rec’d 4,433 apps an increase of 3.4%, but down 5.2% over 3 years

Northwestern- Kellogg rec’d 3,779 apps down 15.5%
NYU- Stern rec’d 3,518 apps down 7%
UCal-Berkeley rec’d 3,450 apps down 9.7%
Yale- SOM rec’d 3,194 apps down 15.6%
Duke- Fuqua rec’d 3,036 apps down 14.6%

Michigan- Ross rec’d 2,990 apps down 6.2%
UCLA- Anderson rec’d 2,817 down 17.7%

Virginia- Darden rec’d 2,190 apps down 3.9%
Dartmouth- Tuck rec’d 2,032 down 22.5%

USC rec’d 1,899 down 5.9%
Univ. of Texas-Austin rec’d 1,941 down 6.6%
UNC Keenan-Flagler rec’d 1,323 apps down 24.7%
Georgetown rec’d 1,358 apps down 6.9%
Emory- Goizueta rec’d 1,022 apps down 24.2%

Indiana- Kelley rec’d 741 apps down 31.5%