What trends have changed in the MBA application in the last decade?
Fewer and shorter essays, increased gender equality, and the popularity of the GRE testing (instead of the GMAT) are just a few of the developments in MBA admissions that might be informative for today's applicants. The types of MBA applicants schools are looking for and what makes them stand out have undergone significant changes. In this blog post we talk about how business school applications have changed over the past ten years and how these patterns affect the way you should approach your MBA application today.
Fewer and Shorter Essays
Over time, business schools have gradually changed their essay questions, drastically lowering both the number of questions and the word count. They know exactly what they want and don't anticipate the MBA application to need a lot of writing.
In 2012, Harvard requested four essays with a combined word count of around 2000. Now, HBS only offers one essay, which is limited to 900 words. Stanford required four questions in 2012, but just two are now required. Ten years ago, MIT Sloan had three essay questions totaling 1500 words; today, there is only one 300-word cover letter.
This change makes it simpler to finish your MBA application, but don't be fooled—it also puts a test on your ability to tell a captivating story in a little amount of time. Business schools are also posing more challenging questions. This demands a lot more introspection on your part, including asking yourself challenging and important questions. Who am I? How did I get to this point in my life? What matters most to me, truly?
2. A more holistic and nuanced way to evaluate
Ten years ago, MBA applicants were evaluated primarily on simple and comparable indicators such as test scores and GPAs. These indicators are still important, but most institutions place a priority on knowing more about who you are outside of your academic and professional achievements. What are your driving motives, life experiences, and guiding values? The admissions committee evaluates your emotional intelligence as well as your ability to change your academic intelligence.
Of course, during the last ten years, business education has evolved, and schools are now more aware of their responsibility in educating intelligent and ethical leaders who will shape our world of tomorrow. This is why, f or example, 10 years ago, HBS requested you to write about your professional goals, accomplishments, and setbacks, as well as why you desired an MBA. Today, HBS asks a single intimidating and open question: "What else would you like us to know as we consider your candidacy for the HBS MBA Program?" The admissions committee is looking for committed and enthusiastic people who can help HBS realize its goal of educating future leaders who make a difference in the world.
Therefore, business schools like HBS have developed more comprehensive and complex methods of evaluating candidates. For instance, Yale SOM's examination of inter- and interpersonal abilities, NYU Steps' EQ specific inquiry in letters of reference, Dartmouth Tuck's "niceness" criteria in the important qualities section, and the inclusion of videos (at Kellogg, LBS, INSEAD, and MIT). Overall, programs are interested in learning more about your personality and interpersonal abilities in order to anticipate your leadership potential and preparedness for the MBA classroom.
3. Slow but steady progress toward gender equality
Most business schools predicted that gender equality will be achieved by 2022 ten years ago. While many top MBA schools have made strides, gender equality in the MBA classroom remains a long-term goal. Among the most prestigious programs, Wharton became the first to reach gender parity in 2021.
According to Forté Foundation research, women's enrollment in MBA programs grew at 14 of the 26 top-ranked business schools in the United States. 15 of the 26 institutions have more than 40% female MBA cohorts. The primary reasons for women's inability to complete a full-time degree are financial constraints as well as a desire to preserve work-life balance. Schools have made substantial attempts to address these issues, including increased grants for developing communities and efforts to meet the special needs of women.
Over the past 10 years, the number of men and women attending the best US schools has become more equal. Top schools with the highest percentage of women students are Kellogg (48%), Stanford GSB (47%), MIT Sloan and HBS (46%), NYU Stern (45%), and CBS (44%).
In general, when it comes to gender equality, schools in Europe and the UK are behind those in the US. The only exception is Oxford University's Said, who has the most votes (48%), followed closely by Cambridge University's Judge (47%). (both schools have increased significantly over these last few years). The number of women at other top schools is much lower: 38% at IESE, 37% at LBS, 36% at INSEAD, 35% at IMD, and 34% at HEC.
4. Rise of the GRE
Until 2006, if you sought an MBA, you had to provide a GMAT score. The same year, forward-thinking colleges like Stanford GSB and Berkeley Haas realized that one exam does not suit all and began adopting the GRE. Around 2012, more schools began to accept the GRE. While it was unstated at the time, and even now, people within the system understood that colleges preferred the GMAT unless the candidate was considered a non-traditional candidate.
Fortunately, those days are behind. The GRE is now commonly accepted as an appropriate exam score to include with your application. More than 1,300 business schools now accept the test in admissions, including Wharton, Kellogg, and London Business School. A staggering 29% of the HBS Class of 2023 got admitted with a GRE score, up from 22% the previous year.
Some colleges, however, continue to prefer the GMAT, but their numbers are decreasing. INSEAD, which has long been wary of the GRE, is now accepting candidates who have taken it, but prefers to see a higher percentile on the GRE quant portion than they would allow for the GMAT.
The fall in applicants to the top US business schools is causing consternation in MBA admissions this year. This decline presents an unparalleled opportunity for round two applicants. This year may be your greatest opportunity in a generation to gain admission to an M7 business school such as HBS, GSB, Wharton, or CBS. Demand for an MBA from the world's best business schools is still high, even though a strong US job market and incentives for top talent to stay put are delaying the need for an MBA in the US. And, with fewer applications competing for restricted spots at the world's best institutions, the odds may be greater than ever.