Stanford Graduate School of Business (Stanford University)
QUICK FACTS
- Location: Stanford, CA, USA
- Program Length: 2 years
- Program Cost: $153,900
- Average GMAT score: 738
- Acceptance Rate: 6.1%
- Average Work Experience: 4.7 years
Employment Reports (2022)
- Received an Offer: 76%
- Accepted an Offer: 93%
- Median Salary: $175,000
- Median Signing Bonus: $45,000
- Median Performance Bonus: $30,000
RANKINGS
- #5 Financial Times 2023 MBA Ranking
- #6 US News - Best Business Schools
- #1 QS Global MBA Rankings 2023
CLASS OF 2024
- Total Applicants: 6,152
- Total Enrollment: 424
- Women: 44%
- Average GPA: 3.8
ABOUT
Located in the heart of Silicon Valley, Stanford School of Business is considered to be one of the most selective MBA programs out there, with an acceptance rate of only 6%. That is something to brag about, as their admissions committee only accepts students with the leadership capacity to change the world. These students are born entrepreneurs that have plans to create startups and have them running, which is affected by the school’s location to some extent. However, the school does not want to be known for that, as it is a School of Management.
After moving the campus to a different location in 2011, now Stanford Business School has a lot more room to pursue a different teaching style: smaller seminar-style courses that aim to deliver the curriculum in a much more effective manner.
To add more, as a two-year full-time program, the Stanford Business School is one of the most costly MBA programs out there, reaching up to $250,000 in total costs for the two-year program. The quality education the school provides justifies these fees and they often provide students with scholarships to take some of that burden away.
APPLICATION DEADLINES
- Round 1: September 12th, 2023
- Round 2: January 4th, 2024
- Round 3: April 9th, 2024
APPLICATION PROCESS
Transcripts
Each transcript copy must be uploaded to the online application portal. Only after students are admitted are they asked to provide official transcripts. Discrepancy between the two would mean a withdrawal of offer. Trasncripts from each attended institution must be provided, regardless of whether a degree was obtained, so long as the classes counted toward the final degree earned. Classes completed, but which to not count toward the undergraduate degree, do not require a transcript submission.
GMAT or GRE
Either the GMAT or GRE can be taken in order to study at Stanford. GSB does not have a minimum score requirement. GMAT and GRE scores are valid for five years and scores must be provided before submission of the application. Scores are not allowed to be averaged and only those scores meant for consideration are to be submitted.
Foreign Language Requirement
Foreign Language Tests must be taken if a degree was earned at an institution whose classes were taught in a language other than english. Even if degree specific classes were instructed in english, a TOEFL, IELTS, or PTE test must be taken if the language university-wide is not english. Applicants who are uncertain if a foreign language score is required, should consider submitting scores in order to strengthen their application.
2 Recommendations
Applicants must submit two letters of recommendations that can speak to their skills and experiences and also provide the admissions committee with useful and relevent anecdotes. One recommendation must come from the applicant’s current direct supervisor from work and the other from an indivindual who has supervised the applicants work. Applicants who cannot provide a recommendation from a direct supervisor are advised to use their best judgement when submitting a recommendation. Alternative recommenders include previous supervisors, indirect managers, clients, or board of director members.
Essay Description
Two personal essays are required for the application. The admissions committee does not look for a ‘right’ answer. Rather, they wish to head about the applicants passions and goals. The word count for Essay A is 650 words. For Essay B, the word count is 400 words. Formatting should be as follows: double-Spaced, numbered pages, both essays on one uploaded document.
Essay A: What Matters Most to You, and Why?
Essay B: Why Stanford?
Resume
Resumes should not exceed more than one page. They should contain work experience obtained since the start of the applicant’s undergraduate program. Include full and part-time work experience. Aplpicants should include a description of career aspirations and previous industry and job function experience.
Interview
Interviews are conducted by GSB MBA alumni or an MBA admissions officer. Applicants should come prepared with questions in order to assess their compatibility with the GSB MBA program. All candidates are required to conduct an interview before receiving an offer of admission. Interviews are via invite only and are conducted at a ratio of 2 or 3 candidate per open spot in the program.
Application Fee
The Stanford MBA Program application fee is $275 and is nonrefundable.
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PROGRAM STRENGTHS
Participating In Global Experiences
Participating in global experiences is a requirement for your degree, and you will be given several opportunities to do so with the different exchange programs and experiences that Sanford will offer you.
Global Management Immersion Experience- You will be able to spend at least 4 weeks working on different projects for international sponsoring organizations during the summer.
Global Study Trips- You will get to spend 8-10 days in an intensive group learning trip lead by student leaders. You will also get the opportunity to examine global problems first-hand through the help of leaders and stakeholders that have insights into the industry.
Stanford. Tsinghua Exchange- You will get to work on different projects of interest with students from the Tsinghua University in China. You’ll get to experience their culture when you visit them in Beijing, and you’ll also be hosting them when they join you in the US.
Compressed Courses
You will also get the opportunity to take compressed courses that aim to build a deep knowledge of certain business topics in a short time frame of only 21 weeks. These are a bit more compressed and information-heavy, however, they are designed in such a way as to create flexibility in your schedule.
STUDENT LIFE
During your time at Stanford, you’ll find that the diverse community of people coming from different backgrounds and the huge variety of student activities and clubs is what makes this an absolutely amazing experience.
Student life at Stanford Graduate School of Business (Stanford GSB) is characterized by a close-knit and collaborative community. Students have access to numerous clubs and organizations, opportunities for experiential learning, a strong focus on entrepreneurship and innovation, and a diverse and vibrant campus culture. The school offers leadership development programs, support services, and a powerful alumni network, contributing to a holistic and enriching student experience
MBA PROGRAM OVERVIEW
First Year
During the first year at GSB, MBA students begin building the knowledge needed to succeed at Stanford and in their career. They will devlop skills in leadership and gain global experience. During the autumn quarter, students takes classes which offer insights into the perspectives of senior leaders and will grow their own leaders style through hands-on experience. Students receive feedback from their classmates and professors in order to recocnize their strengths and weaknesses. During their winter and spring courses, students have more fleixibility in choosing courses which suit their needs and areas of interest.
Each student must complete the global experience requirement in order to graduate.
Core Requirements
- Data Analysis and Decision Making
- Leading with Values
- Finance I
- Financial Accounting
- Leadership Laboratory
- Managing Groups and Teams
Distribution Requirements
- Finance II
- Human Resource Management
- Information Management
- Macroeconomics
- Managerial Accounting
- Marketing
- Operations
Second Year
During their second year, students are able to broaden their focus by selecting from a range of elective classes. This electives allow students the chance to strengthen leadership and managerial skills and explore new areas of study.
Course offerings change yearly. About 100 courses are offered each year each with various focal points and research focuses.
Grading Scale
Stanford Graduate School of Business (Stanford GSB) employs a grading system that primarily uses qualitative assessments instead of traditional letter grades. They use the following grading scale:
Honors (H): Exceptional performance.
High Pass (H+): Strong performance.
Pass (P): Satisfactory performance.
Fail (F): Unsatisfactory performance.
In addition to these grades, Stanford GSB also has options for “No Record” (NR) courses (not included in the transcript), “Audit” (AU) courses (no grade or credit), “Incomplete” (INC) for unfinished work, and “Withdraw” (W) for course withdrawal.
FEATURED PROFESSORS
Deborah Guenfeld
Professor Gruenfeld is a well-known social psychologist, teaching the “Managing Groups and Teams”, and the “Acting with Power” courses at Stanford School of Business. She has done research on the psychology of power and group behavior, and continues to do so.
Her work examines the way people are transformed by the organizations and the social structures they work for, and is well-known for her contributions in different academic journals.
She worked as an assistant-associate professor at the Kellogg School of Management at the Northwestern University, before joining the Stanford faculty in 2000.
Baba Shiv
Professor Shiv is a Marketing professor and is considered to be an expert in the area of neuroeconomics. He has thoroughly studied emotion and motivation in shaping experience and decisions. He currently teaches the course “Designing solutions by leveraging the frinky scene of the human mind” at Stanford School of Business.
Professor Shiv got his Bachelor’s and Master’s degree in India, where he was born. He moved to the US to pursue a PhD at Duke University in 1996. He is now a Professor of Marketing at Stanford School of Business, however he was appointed as an assistant-professor and instructor at different universities like Duke University, the University of Iowa and Stanford GSB earlier on in his career.