Navigating the competitive landscape of business school admissions involves a nuanced understanding of key metrics, with acceptance rates and yield rates standing out as pivotal indicators.
In this comprehensive analysis, we delve into the acceptance and yield rates of top US and European business schools over the years, exploring the trends, patterns, and implications that shape the choices of both applicants and institutions.
From the hallowed halls of Harvard Business School, Oxford Saïd, and Cambridge Judge to the dynamic environments of Wharton, Stanford GSB, INSEAD, and LBS we unravel the stories told by the numbers, offering insights into the selectivity, strategies, and evolving dynamics that define the world of MBA admissions.
What are Acceptance Rates and Yield Rates?
Acceptance rate and yield rate are two important metrics in the context of business school admissions.
Acceptance Rate
- Definition: The acceptance rate is the percentage of applicants who are offered admission to a particular business school.
- Calculation: It is calculated by dividing the number of admitted students by the total number of applicants and multiplying by 100 to get a percentage.
- Significance: A lower acceptance rate is often considered an indicator of the school’s selectivity and competitiveness. Schools with lower acceptance rates are generally perceived as more prestigious.
Yield Rate
- Definition: The yield rate, also known as the enrollment rate, is the percentage of admitted students who choose to enroll in the business school.
- Calculation: It is calculated by dividing the number of enrolled students by the number of admitted students and multiplying by 100 to get a percentage.
- Significance: A higher yield rate indicates that a larger percentage of admitted students chose to attend the school. It reflects the attractiveness of the school to admitted applicants and is a measure of how successful the school is in converting admitted students into enrolled students.
Selectivity Index of Top US Business Schools
The selectivity index includes the acceptance rate and yield rate of a business school.
In this table, we assess the selectivity index of top US business schools and also take a look at the data on the number of applications and admits for these top 40 US business schools.
| S No | Business School | Acceptance Rate | Yield Rate | Number of Applications | Admits |
| 1 | Harvard Business School | 14.40% | 85.50% | 8,264 | 1,187 |
| 2 | Wharton | 22.80% | 62.00% | 6,319 | 1,442 |
| 3 | Stanford GSB | 8.60% | 80.30% | 6,152 | 528 |
| 4 | Columbia Business School | 19.70% | 56.70% | 5,643 | 1,109 |
| 5 | MIT Sloan | 14.80% | 51.50% | 5,349 | 792 |
| 6 | Chicago Booth | 30.10% | 48.50% | 4,352 | 1,308 |
| 7 | Northwestern Kellogg | 31.40% | 38.20% | 4,187 | 1,316 |
| 8 | Michigan Ross | 28.10% | 37.10% | 3,631 | 1,020 |
| 9 | NYU Stern | 27.10% | 33.70% | 3,553 | 962 |
| 10 | Duke Fuqua | 20.50% | 54.90% | 3,539 | 727 |
| 11 | Yale SOM | 27.60% | 38.80% | 3,237 | 894 |
| 12 | UC-Berkeley Haas | 19.60% | 39.50% | 3,183 | 625 |
| 13 | Virginia Darden | 34.20% | 34.10% | 2,984 | 1,021 |
| 14 | USC Marshall | 24.80% | 28.90% | 2,652 | 658 |
| 15 | Cornell Johnson | 31.20% | 38.00% | 2,555 | 798 |
| 16 | UCLA Anderson | 37.60% | 34.70% | 2,473 | 929 |
| 17 | Dartmouth Tuck | 33.40% | 37.60% | 2,282 | 763 |
| 18 | CMU Tepper | 28.80% | 29.40% | 2,267 | 654 |
| 19 | UNC Kenan-Flagler | 35.90% | 34.10% | 1,975 | 709 |
| 20 | Texas-Austin McCombs | 34.10% | 34.50% | 1,866 | 637 |
| 21 | Georgetown McDonough | 50.90% | 31.80% | 1,537 | 782 |
| 22 | Rochester Simon | 14.70% | 38.60% | 1,497 | 220 |
| 23 | Indiana Kelley | 23.50% | 38.70% | 1,372 | 323 |
| 24 | Boston University Questrom | 27.50% | 41.50% | 1,347 | 371 |
| 25 | Vanderbilt Owen | 39.90% | 30.10% | 1,226 | 489 |
| 26 | Emory Goizueta | 37.10% | 28.90% | 1,055 | 391 |
| 27 | Washington Foster | 28.10% | 34.20% | 1,000 | 281 |
| 28 | Rice Jones | 42.80% | 38.10% | 982 | 420 |
| 29 | Ohio State Fisher | 15.10% | 39.20% | 949 | 143 |
| 30 | Washington Olin | 25.50% | 49.70% | 701 | 179 |
| 31 | Notre Dame Mendoza | 32.70% | 41.90% | 700 | 229 |
| 32 | Arizona State Carey | 18.00% | 66.70% | 517 | 93 |
| 33 | Minnesota Carlson | 37.80% | 35.80% | 495 | 187 |
| 34 | Georgia Tech Scheller | 32.30% | 47.80% | 492 | 159 |
| 35 | Penn State Smeal | 18.50% | 56.90% | 390 | 72 |
| 36 | Georgia Terry | 33.70% | 55.20% | 371 | 125 |
| 37 | Wisconsin | 39.30% | 50.70% | 356 | 140 |
| 38 | Texas-Dallas Jindal | 34.00% | 40.90% | 324 | 110 |
| 39 | BYU Marriott | 47.30% | 81.80% | 256 | 121 |
| 40 | Texas A&M Mays | 42.20% | 33.70% | 232 | 98 |
Inferences and Observations
Analyzing the data for the top US business schools, several trends and insights can be derived:
Acceptance Rate Variation:
Acceptance rates vary widely among the top business schools, ranging from as low as 8.6% (Stanford GSB) to as high as 50.9% (Georgetown McDonough).
Highly prestigious schools such as Harvard, Stanford, and MIT Sloan have notably low acceptance rates, indicating high selectivity.
Yield Rate Influence:
Yield rates, which represent the percentage of admitted students who choose to enroll, also exhibit significant variation. Harvard has an exceptionally high yield rate of 85.5%, reflecting its desirability among admitted candidates.
Some schools with higher acceptance rates, such as Georgetown McDonough and BYU Marriott, have high yield rates, suggesting that admitted students are more likely to enroll.
Number of Applications and Admissions:
There is considerable variation in the number of applications received by each business school. Harvard, Wharton, and Stanford GSB receive over 6,000 applications each.
Admissions numbers show the selectivity of schools; for example, Harvard admits a relatively small percentage (14.4%) of its applicants, while Georgetown McDonough admits a larger percentage (50.9%).
Competitiveness and Selectivity:
Schools like Chicago Booth, Northwestern Kellogg, and Michigan Ross have acceptance rates of around 30%, indicating a competitive admissions process.
Higher acceptance rates, such as those for Arizona State Carey and Texas A&M Mays, may suggest a less competitive admissions landscape.
Enrollment Strategies:
Some schools, like Duke Fuqua and Texas-Austin McCombs, have a balanced acceptance and yield rate, indicating successful enrollment strategies.
Other schools, such as UCLA Anderson and USC Marshall, have higher acceptance rates but lower yield rates, suggesting they may face challenges in converting admitted students into enrollments.
Regional Patterns:
Business schools in the same geographical region may exhibit similar trends. For instance, several Southern schools, including Texas A&M Mays, Rice Jones, and Texas-Dallas Jindal, have relatively higher acceptance rates.
Size of the School:
The size of the business school, as reflected in the number of applications and admissions, can impact acceptance and yield rates. Smaller programs, like Stanford GSB, may have lower acceptance rates due to limited spots.
Unique Cases:
Schools like BYU Marriott and Arizona State Carey stand out with high yield rates, indicating that a significant portion of admitted students choose to enroll, possibly due to specific program strengths or offerings.
Acceptance Rates and Yield Rates Trends at Top US Business Schools (2020-2022)
| S No | Business School | Acceptance Rate 2022 | Yield Rate 2022 | Acceptance Rate 2021 | Yield Rate 2021 | Acceptance Rate 2020 | Yield Rate 2020 |
| 1 | Wharton | 22.80% | 62.00% | 18.20% | 67.00% | 25.00% | 51.20% |
| 2 | Chicago Booth | 30.10% | 48.50% | 22.60% | 54.40% | 22.00% | 57.50% |
| 3 | Stanford GSB | 8.60% | 80.30% | 6.20% | 93.60% | 7.20% | 82.30% |
| 4 | Northwestern Kellogg | 31.40% | 38.20% | 26.00% | 42.20% | 20.00% | 48.10% |
| 5 | Harvard Business School | 14.40% | 85.50% | 12.60% | 82.70% | 12.00% | 65.60% |
| 6 | MIT Sloan | 14.80% | 51.50% | 12.10% | 52.40% | 22.00% | 34.70% |
| 7 | Columbia Business School | 19.70% | 56.70% | 15.70% | 64.80% | 16.20% | 69.20% |
| 8 | Yale SOM | 27.60% | 38.80% | 23.60% | 38.20% | 29.70% | 34.10% |
| 9 | Dartmouth Tuck | 33.40% | 37.60% | 29.50% | 40.50% | 34.80% | 37.40% |
| 10 | UC-Berkeley Haas | 19.60% | 39.50% | 17.60% | 43.00% | 23.30% | 38.50% |
| 11 | Michigan Ross | 28.10% | 37.10% | 20.20% | 49.30% | 37.00% | 37.60% |
| 12 | Duke Fuqua | 20.50% | 54.90% | 19.20% | 61.80% | 25.00% | 48.70% |
| 13 | Cornell Johnson | 31.20% | 38.00% | 29.50% | 49.00% | 39.60% | 39.40% |
| 14 | Virginia Darden | 34.20% | 34.10% | 29.90% | 38.40% | 35.60% | 38.10% |
| 15 | NYU Stern | 27.10% | 33.70% | 19.50% | 46.70% | 28.70% | 29.90% |
| 16 | UCLA Anderson | 37.60% | 34.70% | 29.80% | 40.50% | 35.30% | 35.60% |
| 17 | USC Marshall | 24.80% | 28.90% | 23.00% | 39.30% | 24.30% | 28.30% |
| 18 | Texas-Austin McCombs | 34.10% | 34.50% | 35.50% | 36.10% | 37.00% | 33.30% |
| 19 | UNC Kenan-Flagler | 35.90% | 34.10% | 44.30% | 44.70% | 50.60% | 35.60% |
| 20 | Washington Foster | 28.10% | 34.20% | 35.20% | 42.70% | 41.30% | 32.00% |
| 21 | Emory Goizueta | 37.10% | 28.90% | 53.10% | 34.00% | 46.10% | 29.50% |
| 22 | Indiana Kelley | 23.50% | 38.70% | 31.50% | 42.40% | 42.70% | 29.60% |
| 23 | Washington Olin | 25.50% | 49.70% | 33.70% | 55.50% | 47.00% | 40.20% |
| 24 | CMU Tepper | 28.80% | 29.40% | 29.70% | 39.60% | 27.40% | 24.60% |
| 25 | Georgetown McDonough | 50.90% | 31.80% | 48.10% | 36.20% | 57.00% | 29.20% |
| 26 | Georgia Tech Scheller | 32.30% | 47.80% | 27.10% | 51.30% | 37.30% | 36.10% |
| 27 | Vanderbilt Owen | 39.90% | 30.10% | 44.00% | 35.70% | 46.30% | 32.80% |
| 27 | Notre Dame Mendoza | 32.70% | 41.90% | 41.60% | 48.40% | 49.00% | 43.20% |
| 29 | Rice Jones | 42.80% | 38.10% | 42.00% | 48.90% | 39.50% | 49.30% |
| 30 | Rochester Simon | 14.70% | 38.60% | 21.90% | 39.70% | 24.50% | 35.70% |
| 31 | Arizona State Carey | 18.00% | 66.70% | 16.80% | 57.40% | 22.20% | 51.30% |
| 32 | Minnesota Carlson | 37.80% | 35.80% | 37.30% | 50.90% | 53.80% | 40.20% |
| 33 | Penn State Smeal | 18.50% | 56.90% | 18.60% | 56.10% | 20.10% | 53.10% |
| 34 | BYU Marriott | 47.30% | 81.80% | 60.70% | 84.40% | 42.90% | 76.30% |
| 35 | Ohio State Fisher | 15.10% | 39.20% | 22.50% | 48.80% | 40.00% | 28.50% |
| 36 | Georgia Terry | 33.70% | 55.20% | 40.80% | 48.40% | 37.40% | 56.20% |
| 37 | Boston University Questrom | 27.50% | 41.50% | 33.90% | 36.20% | 51.30% | 30.60% |
| 38 | Texas A&M Mays | 42.20% | 33.70% | 42.90% | 56.10% | 42.30% | 49.10% |
| 39 | Wisconsin | 39.30% | 50.70% | 46.70% | 54.80% | 46.30% | 48.00% |
| 40 | Texas-Dallas Jindal | 34.00% | 40.90% | 33.30% | 48.20% | 40.90% | 45.10% |
Inferences and Observations
Analyzing the trends and inferences from the provided data on acceptance rates and yield rates for top US business schools over the years (2020-2022), several insights can be derived:
Consistency and Stability:
Overall, many schools exhibit relatively stable acceptance rates and yield rates over the three years, suggesting a certain level of consistency in their admissions and enrollment strategies.
Harvard Business School and Stanford GSB Selectivity:
Harvard Business School and Stanford GSB maintain consistently low acceptance rates, indicating their highly selective admissions processes. Additionally, they have high yield rates, suggesting that a significant proportion of admitted students choose to enroll.
Varying Trends in Acceptance Rates:
Some schools, such as Wharton and Duke Fuqua, have experienced an increase in acceptance rates over the three years. This may indicate a strategic decision to admit a slightly higher percentage of applicants.
Other schools, like Cornell Johnson and NYU Stern, show more stable or slightly decreasing acceptance rates.
Competitiveness of Top Programs:
Schools like Chicago Booth, MIT Sloan, and Columbia Business School consistently maintain moderate acceptance rates, reflecting the competitive nature of these programs.
Columbia Business School, despite having a higher acceptance rate, maintains a relatively high yield rate, suggesting strong appeal among admitted students.
COVID-19 Impact:
The pandemic may have influenced acceptance rates, as evidenced by changes from 2020 to 2022. Schools may have adjusted their admissions strategies in response to the uncertainties and disruptions caused by the pandemic.
The impact on yield rates is less clear-cut, with variations across schools. Changes in the economy, the shift to remote learning, and other factors may have influenced student decision-making.
Unique Cases:
BYU Marriott stands out with consistently high yield rates, suggesting strong appeal and successful enrollment strategies.
Texas A&M Mays and Wisconsin have relatively high acceptance rates, but their yield rates indicate that a significant percentage of admitted students choose to enroll.
Acceptance Rates and Yield Rates of European Business Schools
| Business School | Acceptance Rate | Applications | Admitted | Enrolled | Yield Rate |
| INSEAD | 31.50% | 3,985 | 1,255 | 1,039 | 82.79% |
| IE Business School | 38.00% | 2,927 | 1,112 | 735 | 66.10% |
| London Business School | 32.80% | 2,452 | 805 | 485 | 60.25% |
| HEC Paris | 17.50% | 2,231 | 391 | 235 | 60.10% |
| IESE Business School | 26.40% | 2,105 | 556 | 350 | 62.95% |
| Oxford Said | 35.40% | 1,586 | 561 | 319 | 56.86% |
| Cambridge Judge | 33.50% | 1,286 | 431 | 206 | 47.80% |
| ESADE Business School | 35.60% | 945 | 336 | 187 | 55.65% |
| Mannheim | 16.60% | 465 | 77 | 55 | 71.43% |
| IMD | 28.80% | 430 | 124 | 90 | 72.58% |
| Manchester Business School | 29.10% | 430 | 125 | 113 | 90.40% |
| SDA Bocconi | 37.90% | 375 | 142 | 108 | 76.06% |
| Warwick Business School | 55.00% | 354 | 195 | 80 | 41.03% |
| ESMT Berlin | 47.80% | 228 | 109 | 68 | 62.39% |
Inferences and Observations
Varied Acceptance Rates:
European business schools exhibit a wide range of acceptance rates, from the highly competitive HEC Paris (17.50%) to more accessible institutions like Warwick Business School (55.00%). This diversity reflects the differing levels of selectivity among these schools.
Application Volume Disparities:
The number of applications varies significantly across European business schools, with INSEAD, IE Business School, London Business School, and HEC Paris, receiving a substantial number. This reflects the global appeal and recognition of these institutions, possibly driven by their strong academic offerings and international reputation.
High Yield Rates at Top Institutions:
Top-tier schools like INSEAD and IESE Business School boast impressive yield rates (82.79% and 62.95%, respectively). This indicates not only the selectivity of these schools but also their ability to attract admitted candidates to enroll, highlighting the allure of their programs.
Competitive Dynamics in the UK:
London Business School, Oxford (Said), and Cambridge (Judge) demonstrate competitive acceptance rates. The UK’s status as a global business hub likely contributes to the high demand for these programs, making them sought-after choices for prospective students.
Geographical Influences on Enrollment:
Mannheim, located in Germany, stands out with a relatively low acceptance rate (16.60%) but a remarkably high yield rate (71.43%). This suggests that while the school is selective, those admitted are more likely to enroll, possibly due to the program’s appeal and regional factors.
Diverse Yield Rates:
Yield rates across European business schools vary, with Manchester Business School and IMD leading with exceptionally high rates (90.40% and 72.58%, respectively). These figures indicate strong alignment between the admitted candidates’ preferences and the actual enrollment decisions, showcasing the schools’ success in converting admits into enrolled students.
Italian School Performance:
SDA Bocconi, based in Italy, demonstrates a competitive acceptance rate and a solid yield rate. This suggests a balanced approach in attracting and retaining admitted candidates, showcasing the school’s international appeal and program strength.
Challenges at Warwick Business School:
Warwick Business School, while having a relatively high acceptance rate, exhibits a lower yield rate (41.03%). This may indicate challenges in converting admitted students into enrolled ones, possibly pointing to the need for strategic enrollment efforts.
Final Thoughts
It is quite evident that these metrics are not just statistical figures but mirrors reflecting the ever-shifting landscape of business education. The fluctuations in acceptance rates reveal the competitive nature of the admissions process, while the stability or variability in yield rates unveils the intricate negotiations between schools and admitted candidates.
From the impact of global events to the strategic maneuvers of top-tier institutions, this analysis underscores the multifaceted nature of MBA admissions, providing prospective students and academia enthusiasts with a deeper understanding of the trends shaping the future of business education.