Duke Fuqua | Mr. Salesman
GMAT 700, GPA 3.0
Wharton | Mr. Hopeful Fund Manager
GMAT 770, GPA 8.52/10
MIT Sloan | Mr. Healthtech Consultant
GMAT 750, GPA 3.44
Harvard | Mr. Navy Nuke
GMAT 710, GPA 3.66
NYU Stern | Mr. Army Prop Trader
GRE 313, GPA 2.31
London Business School | Mr. LGBT Pivot
GMAT 750, GPA 3.7
Kellogg | Mr. Defense Engineer
GMAT 760, GPA 3.15
London Business School | Ms. Private Equity Angel
GMAT 660, GPA 3.4
Cornell Johnson | Mr. Indian Dreamer
GRE 331, GPA 8.5/10
London Business School | Mr. FANG Strategy
GMAT 740, GPA 2.9
NYU Stern | Ms. Entertainment Strategist
GMAT Have not taken, GPA 2.92
Harvard | Mr. CPPIB Strategy
GRE 329 (Q169 V160), GPA 3.6
Rice Jones | Mr. Student Government
GMAT 34 (ACT for Early Admit Program), GPA 3.75
Chicago Booth | Mr. Healthcare PM
GMAT 730, GPA 2.8
Kellogg | Ms. Sustainable Development
GRE N/A, GPA 3.4
Stanford GSB | Mr. Army Engineer
GRE 326, GPA 3.89
Kellogg | Ms. Big4 M&A
GMAT 740, GPA 3.7
MIT Sloan | Ms. Rocket Engineer
GMAT 710, GPA 3.9
Chicago Booth | Mr. Unilever To MBB
GRE 308, GPA 3.8
Chicago Booth | Ms. Indian Banker
GMAT 740, GPA 9.18/10
Harvard | Mr. African Energy
GMAT 750, GPA 3.4
Columbia | Mr. Energy Italian
GMAT 700, GPA 3.5
UCLA Anderson | Mr. SME Consulting
GMAT 740, GPA 3.55 (as per WES paid service)
Duke Fuqua | Mr. Quality Assurance
GMAT 770, GPA 3.6
INSEAD | Mr. INSEAD Aspirant
GRE 322, GPA 3.5
Duke Fuqua | Mr. Army Aviator
GRE 314, GPA 3.8
Harvard | Mr. Renewables Athlete
GMAT 710 (1st take), GPA 3.63

Sloan Pays Admits $20K To Go Away

MIT's Sloan School of Management


MIT’s Sloan School of Management enrolled so many students to its full-time MBA program this year that it began offering incentives as high as $20,000 to get accepted applicants to defer their admission to next year.

According to The Wall Street Journal today (Sept. 26(, Sloan began asking for volunteers to delay their admission on Aug. 7. The school offered no incentives at that point, only “guaranteed admission to the class of 2015 for the first 20 admitted students who request it.” By early August, many of them has already quit their jobs and found apartments in the Boston area.

Sloan failed to get enough takers so it began dangling $15,000 scholarships that could be applied to next year’s tuition. That didn’t do the trick, either. So on Aug. 21, a day after pre-term refresher courses started, Sloan raised the ante to a $20,000 scholarship for the first ten people who responded—a nice discount from the $58,200 annual MBA tuition. Four admitted students took the deal.

The problem occurred because a larger than expected number of students decided to enroll, Rod Garcia, senior admissions director, told the Journal in an emailed statement. Sloan received 4,133 applications for the just entered class and more than 10% of them enrolled. The school enrolled a class of 413 students, up from 404 last year.

Yale’s School of Management also reported higher yield rates–the percentage of accepted applicants who enroll–this year. The Yale Daily News has reported that 46% of Yale’s accepted applicants enrolled at the school, up four percentage points than expected. The upshot: About 20 more students entered the MBA program than anticipated, swelling the first-year class to 249 from 227 last year. In an interview with The Yale Daily News, SOM Director of Admissions Bruce DelMonico attributed the higher yield numbers to greater funding for scholarships and the school’s new network of partnerships with foreign business schools — initiatives Dean Edward Snyder started since taking office in July 2011.Unlike MIT, Yale decided to live with the problem.

The Journal reported that offering money to admits to defer their enrollment is not without precedent. In 2006, Yale School of Management handed out 50% tuition rebates to accepted students for their first year to get them to defer. More than 30 admitted students ultimately took the offer, worth $21,000, allowing the school to keep its M.B.A. class at about 180.

About The Author

John A. Byrne is the founder and editor-in-chief of C-Change Media, publishers of Poets&Quants and four other higher education websites. He has authored or co-authored more than ten books, including two New York Times bestsellers. John is the former executive editor of Businessweek, editor-in-chief of Businessweek. com, editor-in-chief of Fast Company, and the creator of the first regularly published rankings of business schools. As the co-founder of CentreCourt MBA Festivals, he hopes to meet you at the next MBA event in-person or online.