Stanford GSB MBA Class of 2023: Diversity Initiatives Pay Dividends in Representation
The Stanford Graduate School of Business has released its profile of the MBA Class of 2023, showcasing how the school’s investment of resources in increasing all aspects of diversity in its prestigious MBA program has paid off in greater representation for a wide array of racial, ethnic, educational, and economic backgrounds.
Kirsten Moss, Assistant Dean and Director of MBA Admissions and Financial Aid, said in the school’s press release on the class profile, “We’re pleased to welcome this class of talented students. Their diverse perspectives and unique life experiences will help create a dynamic cohort of leaders prepared to make their mark on a global world.”
Here are some key elements of the profile:
|Average Undergraduate GPA||3.78|
|Percent majoring in arts, humanities, social sciences||23%|
|Percent majoring in science, technology, engineering, and math||39%|
|Percent majoring in business||15%|
|Average GMAT Score||738|
|GMAT Score Range||610-790|
|GRE Quant Average||165|
|GRE Verbal Average||165|
|Countries Represented (by citizenship)||63|
|Average Work Experience||4.8 years|
Women, Minorities, and International Student Representation
Stanford has worked to increase efforts in outreach and diversity programming for new and prospective students by MBA Admissions, and launched the Building Opportunities for Leadership Diversity Fellowship, providing financial assistance for students who are also committed to the advancement of Diversity, Equity, and Inclusion. Some of the first recipients of this fellowship are members of the class of 2023
The class numbers 426 students, of whom 12% are first-generation college students. International students, which includes foreign nationals, dual citizens, and US permanent residents, make up 47% of the class and hail from 63 countries. Women make up 44% of the class.
53% of students in the class are U.S. citizens or permanent residents. Out of that percentage, individuals who are Native American, Alaska Native, Native Hawaiian and Native Pacific Islander, Asian American, Black, Hispanic, or multiethnic make up 48%. Stanford’s multi-identity reporting allows students to identify as multiple ethnicities to better reflect diversity. Reporting also reveals that greater numbers of historically underrepresented minorities are enrolling in the MBA program. This year 12% of students identify as Hispanic, 10% as Black, and 2% are Native American, Alaska Native, or Native Hawaiian and Native Pacific Islanders.
Academic and Professional Background
This year’s class holds degrees from 164 academic institutions, a significant increase over last year’s 144. Nineteen percent hold advanced degrees. The top five undergraduate degrees are led by STEM majors, with 25% of the class holding engineering degrees. Economics majors make up 22% of the class, business or commerce 15%, 15% in social science, and 8% hold degrees in arts or humanities.
While the average GMAT score of the class of 2023 is an impressive 738, the Stanford MBA program does not require a minimum score for applicants.
The MBA program set a new record for diversity in career backgrounds, with students coming from 315 organizations with an average of 4.8 years of career experience. Twenty percent of students come from the financial industry, while 19% have a consulting background. Technology professionals represent 16%, and routing out the top five are the government, education, and non-profit sector and healthcare sector, tied with 8% of students.