The Stanford University Graduate School of Business MBA program was ranked number one in the QS Global MBA Rankings in 2019. This is a prestigious ranking system that evaluates MBA programs worldwide. In 2018, the same program was ranked fourth, so it jumped up to become the best program in the world for that year.
One of the reasons for this rise in ranking is due to the program's strength in entrepreneurship. This means that Stanford's MBA program is very good at helping students learn how to start and run their businesses. This is an essential skill in today's economy, as many people want to be their bosses and create their own companies.
However, getting accepted into this program takes a lot of work. In 2018, the program only bought 419 students out of 7,797 applicants. This means the acceptance rate was only 5.4%, which is very low. To get accepted, applicants need to put in a lot of effort to show the admissions committee that they are the best candidates for the program. This includes solid academic background, relevant work experience, and a compelling personal statement or essay.
How to Get Admission for MBA at Stanford University
Getting admitted into Stanford's MBA program is a highly competitive process, but it is possible with the right approach and effort. Here are some steps to increase your chances of getting admitted.
Begin early Research: It is essential to start researching early and understand the program's requirements, deadlines, and expectations. Attend information sessions, visit the campus, and talk to alums and current students to better understand the program.
Research Internal Factors: Evaluate your academic, personal, and professional goals and how they align with Stanford's MBA program. Understand what unique qualities, experiences, and perspectives you can bring to the program.
Research External Factors: Conduct thorough research on the industry, companies, and the role you want to pursue after completing your MBA from Stanford. Understand how the program can help you achieve your career goals.
Identify Gaps: After evaluating your goals and research, identify any gaps in your profile that could hinder your admission. These gaps could be a low GPA, lack of leadership experience, or insufficient community involvement. Identify areas where you can improve and stand out from the competition.
Work on the gaps in your application: Address the gaps in your application by taking additional courses, volunteering, taking on leadership roles, or seeking a promotion at work. This will help demonstrate your commitment and potential to excel in the program.
Prepare and Excel the GMAT: Stanford requires a GMAT score as part of the admission process. Prepare and excel in the GMAT to showcase your academic abilities and stand out.
Apply to Stanford University Graduate School of Business' MBA program: After completing the above steps, apply to the Stanford MBA program by submitting a comprehensive application, including essays, recommendations, transcripts, and test scores. Apply early in the first round to demonstrate your commitment and increase your chances of admission.
Myth About Stanford MBA Program
There is a common myth that the Stanford MBA program prefers tech entrepreneurs over other applicants. However, this is not true. Here are a few myths regarding Stanford MBA programs and ways to resolve those myths.
Myth 1: Stanford only prefers tech entrepreneurs
- Understand that the Stanford MBA program looks at all the applications comprehensively.
- Research and showcase the unique qualities, experiences, and perspectives you can bring to the program.
- Focus on how you can make an impact in your industry.
Myth 2: You need a high GMAT score to get into the Stanford MBA program
- Understand that the GMAT is only one part of the admission process.
- Showcase your academic abilities, leadership potential, and unique qualities through essays, recommendations, and personal achievements.
- Highlight your work experience and how it aligns with Stanford's MBA program goals.
Myth 3: Stanford MBA program is only for young applicants
- Stanford values diversity in all forms, including age and work experience.
- Showcase your work experience and how it aligns with Stanford's MBA program goals.
- Highlight how your life and work experiences can contribute to the class's diversity and enriching learning experience.
Myth 4: Stanford MBA program only admits students from top schools
- Understand that Stanford values diversity and evaluates all applications comprehensively.
- Showcase the unique qualities, experiences, and perspectives you can bring to the program.
- Highlight your work experience and how it aligns with Stanford's MBA program goals.
What are the Expectations of the Stanford MBA Program from its Aspirants?
The Stanford MBA program is one of the most prestigious business programs in the world. Aspirants who apply to the program must possess certain qualities that align with the program's goals and values. Here are the three key aspects that the Stanford MBA program expects from its aspirants:
Cognitive Liveliness: Cognitive liveliness refers to an aspirant's ability to learn and absorb new concepts and ideas. The program looks for aspirants who have a positive attitude towards learning and are ambitious about their career goals. An aspirant's aptitude towards learning is also assessed through their academic records, work experience, and extracurricular activities. The program expects aspirants to demonstrate their ability to use their skills and knowledge diligently and effectively.
Real-Life Leadership Potential: Leadership potential is an important quality the program seeks in its aspirants. The program aims to nurture future leaders who can positively impact their organisations and society. The program evaluates aspirants' leadership potential based on their professional and personal experiences. Aspirants who have demonstrated their ability to make difficult decisions in complex and challenging situations are highly valued. The program expects aspirants to showcase their leadership skills through essays, recommendations, and personal achievements.
Individualised Qualities and Contributions: The program seeks diverse aspirants who can contribute to the university community. The program expects aspirants to demonstrate how they can contribute to the university community and benefit from it. Aspirants who possess unique qualities and significantly contribute to their personal or professional lives are highly valued. Aspirants who can showcase their individuality and demonstrate how they can make a positive impact in the program and beyond are more likely to be admitted.
How to prove the qualities in your application for the Stanford MBA program?
The Stanford MBA program has certain expectations from its aspirants, which can be proved through the application process. Let's understand the different elements of the application and how they contribute to proving the aspirant's qualities.
Educational journey: The Admissions Committee looks for candidates with solid academic backgrounds. This includes undergraduate grades and the reputation of the college or university attended. They also consider additional certifications, awards or honours earned during the educational journey.
Test scores: The quantitative section of the application includes standardised test scores like GMAT, GRE, TOEFL, or IELTS. These scores give an idea of the aspirant's ability to handle the rigour of the MBA program.
Personal information, Activities, and Awards: The Admissions committee wants to know the aspirant's interests, extracurricular activities, and achievements outside of academics and work. It showcases the aspirant's leadership, creativity, and teamwork skills.
Professional experience: The Admissions committee evaluates the aspirant's professional experience to know about their leadership potential, work ethics, and industry knowledge.
Letters of Reference: Two letters of reference are mandatory, one from the current supervisor and the other from someone else who has supervised the aspirant's work. These letters provide insight into the aspirant's personality, leadership potential, and work ethic.
Essays: The essays are the aspirant's chance to showcase their personality, uniqueness, and fit for the Stanford MBA program. The Admissions Committee looks for authenticity in the essays and expects to see the "MBA X-factor" in them.
Optional short answer questions: The aspirants can provide additional information in the optional short answer questions. These questions are an opportunity to showcase the aspirant's leadership potential, teamwork skills, and fit for the program.
Application Fee: There is an application fee that the aspirants have to pay to submit their application.
Reapplication: If an aspirant is not selected on the first attempt, they can reapply after one year. The Admissions Committee evaluates the reapplication with the same rigour as the first attempt.
Why Stanford? and What matters most to you, and why?
To get admission to the Stanford MBA program, you must write two essays on the following topics: Why Stanford? and What matters most to you?
- While writing your essays, keep the following points in mind:
- Be authentic to yourself. Reflect on your thoughts, ideas, achievements, beliefs, and decisions.
- Use your unique experiences and perspectives to create a meaningful essay that stands out.
- Your essay should show how you align with the values and culture of the Stanford MBA program.
- It's a good idea to talk to current students, faculty members, and alums to better understand the program and how it can help you achieve your goals.