Stanford GSB MBA Class Of 2027: Diversity Rebounds, Applications Hold Steady

After a major rebound in MBA applications last year, Stanford Graduate School of Business maintained its momentum in 2024-2025, receiving 7,259 applications for the MBA Class of 2027. It also enrolled its largest cohort in five years. 

While several U.S. business schools are reporting notable drops in international students this year — even before the full effect of the Trump administration’s aggressive education and visa policies have been felt — Stanford held steady on that front, declining only 1 percentage point to 38% of the class. 

In fact, “steady” describes most of Stanford’s MBA Class of 2027 profile, reporting numbers that look very similar to the previous class. 

STANFORD MBA CLASSES 2019-2027: BY THE NUMBERS
	Class of 2027	Class of 2026	Class of 2025	Class of 2024	Class of 2023	Class of 2022	Class of 2021	Class of 2020	Class of 2019
Applications	7259	7295	6190	6152	7367	7324	7342	7797	8173
Class Size	434	424	431	424	426	436	417	419	418
Women	45%	44%	46%	44%	44%	47%	47%	41%	40%
Internationals	38%	39%	36%	37%	47%	35%	43%	42%	41%
U.S. Minority	55%	53%	50%	51%	48%	37%	27%	27%	29%
Work Experience	0-16 years	0-15 years	0-15 years	NA	0-11	0-12	0-14	0-11	0-14
Average Work Experience	5.3 years	5.1 years	5.0 years	4.9 years	4.8 years	4.7 years	4.6 years	4 years	4 years
Source: Stanford GSB

APPLICATIONS HOLD, CLASS SIZE GROWS

Stanford may be reaching a new equilibrium after last year’s surge in MBA applications. The 7,259 applications received for the 2027 class are down only 36 from the prior year’s 7,295, a statistically flat change underscoring the strong interest in the world’s most selective MBA program.

Among its HSW peers (Harvard, Stanford, Wharton), Stanford collected just 318 fewer applications than The Wharton School for a 2027 MBA class that is less than half its size. It’s why Stanford has one of the lowest admit rates in the game, though it did not report the figure on its official profile. (Harvard Business School hasn’t yet released its 2027 class profile.)

Stanford’s app stability comes after a dramatic 18% rebound for the Class of 2026, breaking out of a two-year slump that saw apps sink into the low-6,000s. The last time Stanford saw this level of sustained demand was before the pandemic, when the Class of 2023 drew 7,367 applications and the Class of 2019 hit a school-record of 8,173. The slight dip this year likely doesn’t indicate a cooling trend so much as a correction to a new post-pandemic baseline. 

Stanford also slightly expanded its incoming class from 424 to 434 students (its largest since the Class of 2022’s 436). It’s a return closer to pre-pandemic enrollment levels while preserving its small-class culture and 6-to-1 student-faculty ratio. (Wharton enrolled a 2027 cohort of 888 while HBS’s 2026 cohort was 930.)

DIVERSITY REBOUNDS AFTER DIP

After a notable decline in underrepresented minority enrollment following the Supreme Court’s 2023 ruling ending affirmative action, Stanford’s Class of 2027 shows signs of recovery.

Students of color make up 55% of the U.S. citizens and permanent residents in the cohort, up from 53% the previous year. By federal reporting standards, 29% are Asian, 7% are Black or African American, and 11% are Latino. 

In the previous class, Latino representation of U.S. students fell from 12 to 7%, showing a rebound in this class. Total underrepresented minority (URM) enrollment is 18% of U.S. students, down from 22% last year.

Women make up 45% of the class, up a point from last year, and 13% are the first in their families to graduate from college.

International enrollment remained stable at 38%, representing 64 countries and 69 languages spoken. In a year when many U.S. business schools reported declines in foreign enrollment, Stanford’s steady numbers underscore the global draw of its brand.

STANFORD MBA ACADEMICS: Classes 2019-2027
	Class of 2027	Class of 2026	2025	2024	2023	2022	2021	2020	2019
Average GMAT	738	738	738	737	738	733	734	732	737
GMAT Score Range	540-780	560-790	630-790	630-790	610-790	600-790	600-790	600-790	610-790
Average GMAT Focus	689	—	—	—	—	—	—	—	—
GMAT Focus Range	615-785	—	—	—	—	—	—	—	—
GRE Verbal Average	164	163	164	164	165	165	165	165	165
Verbal Range	150-170	152-170	149-170	149-170	149-170	150-170	149-170	155-170	150-170
GRE Quant Average	164	164	164	163	165	164	165	165	164
Quant Range	151-170	153-170	150-170	150-170	154-170	151-170	157-170	152-170	156-170
GPA Average	3.76	3.75	3.77	3.76	3.78	3.8	3.7	3.73	3.74
TOEFL Average	112	113	113	NA	113	113	114	113	112
TOEFL Range	103-119	104-120	104-120	NA	104-120	107-118	105-120	101-120	104-119
Source: Stanford GSB

ACADEMICS AND INDUSTRY

Academically, the Class of 2027 remains as competitive as ever: the average GMAT is 738, matching Stanford’s all-time high, and topping Wharton’s legacy average by 3 points. 

The average GRE is 164 verbal and 164 quantitative while the average undergrad GPA ticked up to 3.76.

For professional backgrounds, consulting again leads the mix at 20% of the class, followed by investment management, private equity, and venture capital (17%), and technology (15%), which inched up slightly despite a tough job market of late.

Public service remains a defining thread at Stanford: 9% come from government, education, or nonprofit backgrounds, while healthcare and consumer products each represent about 7%. Military veterans make up 4% of the class.

The class also reflects a broad range of undergraduate disciplines. Engineering majors are 29% of the class, while business/commerce degrees jumped to 24%. 

STANFORD GSB PRE-MBA INDUSTRIES & UNDERGRAD MAJORS
	Class of 2027	Class Of 2026	Class of 2025	Class of 2024	Class of 2023
Consulting	20%	20%	17%	20	16
Investment Management/Private Equity/ Venture Capital	17%	19%	19%	20	20
Technology	15%	14%	13%	15	14
Government/Education/ Nonprofit	9%	9%	10%	8	8
Consumer Products & Services	7%	7%	9%	7	7
Healthcare	7%	6%	7%	5	7
Financial Services	5%	6%	5%	4	5
Military	4%	5%	5%	4	4
Manufacturing	3%	4%	3%	3	3
Arts/Media/ Entertainment	5%	3%	4%	5	7
Cleantech/energy/ environmental consulting	3%	2%	4%	3	4
Undergraduate Major
Engineering, Math & Natural Science Majors	41%	41%	41%	33	39
Humanities/Social Science & Econ Majors	35%	41%	39%	47	45
Business Undergrad Major	24%	18%	20%	19	15
Source: Stanford GSB

DON’T MISS: BERKELEY HAAS MBA CLASS OF 2027: SMALLER CLASS REBOUNDS IN GLOBAL DIVERSITY and MIT SLOAN MBA CLASS OF 2027: INTERNATIONAL RANKS GROW, BUT U.S. DIVERSITY STAYS FLAT

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