In order to get serious consideration as an applicant to top MBA programs, one should have anywhere from 2 to 6 years of post undergraduate work experience.
Acceptance rates to the top 29 programs range from about 6% at Stanford & about 11% at Harvard to over 55% at Georgetown and over 39% at Rice (Jones). Texas-Austin (McCombs) latest acceptance rate for its fulltime 2 year MBA program was 33.6%.
Last year’s acceptance rates–before the drop in apps reported above–to the M-7 MBA programs were:
Stanford–6%
Harvard–11%
MIT–12%
Columbia 14%
Penn (Wharton)–20%
Northwestern( Kellogg)–20%
Chicago (Booth)–24%
Although not referred to as an M-7 school, UCal-Berkeley (Haas) had an acceptance rate of about 12%.