Pursuing an MBA from a top business school in the United States is a dream for many. However, the process of securing a spot in these prestigious programs is highly competitive.
Understanding the acceptance rates of business schools can provide valuable insight into their selectivity and help you form your initial school list.
In this article, we will look at the acceptance rates of top business schools, discuss how to interpret these numbers, and offer guidance on how to use this information to build a smart application strategy based on your profile.
Whether you’re aiming for the elite schools only or considering a healthy mix of reach and safety schools, this data will help you navigate the complex landscape of MBA admissions.
Understanding MBA Acceptance Rates
MBA acceptance rates are a crucial factor in thinking strategically about business school. These rates illustrate how competitive a given program is and can help you determine your chances of admission. By examining acceptance rates, you can gauge the selectivity of different schools and tailor your list to include a mix of reach, target, and safety programs.
Depending on that mix, you might choose to focus on gaining more work experience, aiming for a higher test score, or deciding whether you need the help of an MBA admissions consultant to holistically improve your profile so it is competitive at top programs.
Top Business Schools by Acceptance Rates
Looking at the list of top US business schools below, you'll see that acceptance rates vary widely between programs. For example, prestigious institutions like Harvard Business School and Stanford Graduate School of Business have notoriously low acceptance rates.
Over the last eight years, the average Harvard MBA acceptance rate comes in at 11%, while the Stanford MBA acceptance rate has hovered around 8% in recent years, reflecting the high level of competition between students. Such low acceptance rates are typically indicative of certain characteristics of admitted students, such as high GMAT scores and high undergraduate GPAs.
In contrast, other reputable programs might have acceptance rates that are more forgiving, ranging from 20% to 40%. The UCLA Anderson MBA program, for instance, accepts around 40% of applicants, making it, unsurprisingly, a "safer" school vs HBS or Stanford GSB. The Duke MBA acceptance rate, on the other hand, is around 20%, accepting only one in five applicants, placing its selectivity somewhere in between the schools we've mentioned.
However, it's important to acknowledge that an MBA program's acceptance rate should not be used as an objective measure of your profile. An individual with a high GPA, a high GMAT score, and excellent work experiences will likely have a greater chance of admission than an individual with lower stats and a more common background. This means that you shouldn't interpret a 20% acceptance rate as a 20% chance that you will be accepted.
Acceptance Rate Data
| MBA Program | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
| Stanford* | 9% | 7% | 6% | 7% | 7% | 6% | 6% |
| Harvard Business School* | 11% | 10% | 12% | 12% | 12% | 11% | 11% |
| The Wharton School* | 23% | 19% | 18% | 25% | 23% | 21% | 19% |
| Northwestern Kellogg* | 31% | – | 26% | 20% | 27% | 21% | 20% |
| Chicago Booth* | 30% | – | 23% | 22% | 24% | 23% | 24% |
| Columbia Business School | 20% | 22% | 16% | 17% | 19% | 17% | 17% |
| MIT Sloan* | 15% | – | 12% | 22% | 15% | 12% | 12% |
| Dartmouth Tuck | 33% | – | 29% | 35% | 35% | 23% | 23% |
| Berkeley Haas | 20% | – | 18% | 23% | 18% | 12% | 12% |
| Virginia Darden | 34% | – | 30% | 36% | 36% | 33% | 25% |
| Yale SOM | 28% | – | 24% | 30% | 25% | 20% | 17% |
| Duke Fuqua | 21% | 21% | 19% | 25% | 23% | 22% | 22% |
| Michigan Ross | 28% | 28% | 20% | 37% | 31% | 27% | 25% |
| Texas McCombs | 34% | – | 35% | 34% | 38% | 34% | 28% |
| Cornell Johnson | 31% | – | 29% | 40% | 38% | 33% | 30% |
| UCLA Anderson* | 38% | – | 30% | 35% | 31% | 24% | 22% |
| NYU Stern | 27% | – | 19% | 29% | 26% | 23% | 21% |
| Carnegie Mellon Tepper | 29% | 28% | 30% | 27% | 42% | 35% | 30% |
| UNC Kenan-Flagler | 36% | 36% | 44% | 46% | 53% | 46% | 37% |
| Emory Goizueta | 37% | 31% | 53% | 46% | 44% | 37% | 32% |
| USC Marshall | 25% | 30% | 23% | 24% | 30% | 28% | 29% |
| Georgetown McDonough | 51% | 51% | 48% | 57% | 61% | 55% | 48% |
| Indiana Kelley | 24% | – | 38% | 37% | 35% | 31% | 29% |
| UW Foster | 28% | – | 35% | 41% | 36% | 35% | 22% |
| Rice Jones | 43% | – | 42% | 36% | 37% | 39% | 27% |
(*) Contains estimates
(-) Does not disclose
Lowest Acceptance Rates
- Stanford Graduate School of Business: 9%
- Harvard Business School: 11%
- MIT Sloan School of Business: 15%
- Berkeley Haas School of Business: 20%
- Columbia Business School: 20%
- Duke Fuqua: 21%
- University of Pennsylvania Wharton School: 23%
- Indiana Kelley: 24%
- University of Southern California, Marshall School of Business: 25%
- New York University, Stern School of Business: 27%
Highest Acceptance Rates
- Virginia Darden: 34%
- Texas McCombs: 34%
- Dartmouth Tuck: 33%
- Northwestern Kellogg: 31%
- Cornell Johnson: 31%
- UNC Kenan-Flagler: 36%
- Emory Goizueta: 37%
- UCLA Anderson: 38%
- Rice Jones: 43%
- Georgetown McDonough: 51%
For more detailed program coverage, you can read our guides to the best US universities for business degrees, based on Times Higher Education’s World University Rankings 2024 data.
The Role of Acceptance Rates in Business School Selection
While acceptance rates are a significant factor in developing your initial list of target business schools, they should not be the sole criterion guiding your decision.
Factors to Consider Beyond Acceptance Rates
There are several other essential factors to consider when evaluating and choosing the right MBA program for your profile.
Program Curriculum and Specializations
The curriculum of an MBA program and its available specializations can have a profound impact on your education and career. Ensure that the schools you are considering offer courses and specializations that align with your career goals and interests. Programs with strong offerings in your desired field will provide you with the relevant skills and knowledge needed to succeed.
Career Outcomes and Networking Opportunities
Evaluating a program's career outcomes, such as employment rates, average starting salaries, and the strength of its alumni network, is essential. Schools with strong connections to your target employers and robust career services can significantly enhance your job prospects post-graduation. Networking opportunities, both through formal channels and informal interactions, are invaluable for your career development.
Location and Campus Culture
The location of the business school and its campus culture should also be factored into your decision. Consider whether you prefer an urban or rural setting, the cost of living in the area, and the overall environment of the campus. A school's culture, including its values, diversity, and community spirit, should align with your personal preferences and lifestyle.
By considering these factors in addition to acceptance rates, you can make a well-rounded and informed decision about which MBA program is the best fit for you.
How Acceptance Rates Impact MBA Programs
Acceptance rates can significantly impact an MBA program's prestige. Programs with lower acceptance rates often project an image of exclusivity and high standards, attracting top-tier applicants from around the globe. This perception of selectivity enhances the program's reputation, making it more desirable to prospective students and employers.
Lower acceptance rates can also lead to a more competitive admitted class. When a business school is known for its rigorous selection process, it tends to attract applicants who are highly accomplished and well-prepared, enhancing the AdCom's ability to assemble a truly remarkable set of students.
On the other hand, higher acceptance rates can lead to a more diverse and inclusive student body.
Programs with more accessible acceptance rates often have the flexibility to consider a broader range of applicants, including those with non-traditional backgrounds or unique experiences. This inclusivity can enhance the richness of classroom discussions and perspectives, providing a more comprehensive and varied educational experience. A diverse student body also better reflects the global business environment, preparing graduates to navigate and lead in diverse professional settings.
Key Takeaways from MBA Acceptance Rates
MBA acceptance rates are a key metric in understanding the selectivity of MBA programs, varying widely among top US business schools and influencing how applicants strategize their applications.
However, it's essential to consider other important factors beyond acceptance rates when selecting a business school. These include the program's curriculum and specializations, career outcomes and networking opportunities, and location and campus culture.
Lower acceptance rates often enhance a program's prestige and selectivity, attracting a more competitive applicant pool, while higher acceptance rates can lead to a more diverse and inclusive student body.
By balancing acceptance rates with these additional considerations, business students can make informed decisions and choose the MBA program that best aligns with their goals and aspirations.
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