The Wharton class profile for the class of 2024 was recently released. These facts and figures get a lot of attention each year, signaling four trends Personal MBA Coach expects to continue.
1. The ratio of male to female students is exactly 1:1.
Last year, for the first time in Wharton’s history, women made up the majority of the incoming class, 52% to be exact! While that percentage has dropped marginally by 2%, Wharton’s latest class profile consists of 50% male and 50% female students. The percentage of female students is a major jump from the class of 2022, where women accounted for 41% of the fall cohort.
2. Diversity continues to be top of mind for MBA Admissions Directors, and international representation remains high.
The new Wharton MBA class also reports that those enrolled in the class of 2024 represent 77 different countries. Collectively, international students account for 35% of the class.
Wharton also shared percentages of LGBTQ+ students, and race/ethnicity information from U.S. passport holders, asserting that these diverse backgrounds lead to “innovative ideas and solutions for the world’s next problem in business.” Notably, 8% of the class identifies as LGBTQ+ and 71% are from minority backgrounds.
3. Total number of applications was down.
While this comes as no surprise to Personal MBA Coach, Wharton announced that the school received roughly 1,000 fewer applications from those applying for 2022 intake compared to those applying to begin in 2021. While the school reported 7,338 applications last year, that number dropped to 6,319 this year.
This is a trend Personal MBA Coach predicts will continue through round 1 but slowly reversing as companies continually announce layoffs.
4. Average GMAT/GRE scores are strong.
Despite this decrease in applications, the average GMAT score this year for the incoming Wharton class is 733, matching last year’s score. Similarly, the average GRE score also remains the same (162 Quant and 162 Verbal). This is a testament to the competitive nature of the Wharton admissions process.
This consistency in high average GMAT/GRE scores is not a surprise to Personal MBA Coach. We would not be surprised to see scores rise in the foreseeable future.
As Personal MBA Coach has noted in our blog on exam FAQs, the strength of average Wharton GMAT scores is due in part to test takers’ ability to sit for the exam up to 5 times within 12 months. The option to cancel scores also has contributed to the rise in average GMAT scores, as more candidates withdraw low attempts. As with the GMAT, GRE test takers can take the exam up to 5 times within any 12 months and cancel their score if they are not happy with the result.
If you have yet to take the GMAT/GRE or are planning to retake either test, researching average scores is a good place to start when determining your target score. Though candidates with unique backgrounds, exceptionally strong profiles, and from underrepresented applicant pools occasionally get in with lower scores, it is uncommon for most folks with scores more than 20 to 30 points below average to gain admission.
While the rest of the M7s and other top MBA programs have yet to release class profile information on the incoming class of 2024, we expect to see many of these trends continue across other top MBA programs.
MBA hopefuls who are building their target school lists can use this newly reported information as benchmarking data. Remember, however, that these numbers should serve only as an initial guide, as the entire applicant package matters more.
If you are seeking additional guidance in the school selection process, take a look at Personal MBA Coach’s Decision Making Guide!