Things are looking up at New York University’s Stern School of Business — up, that is, in certain key metrics for the MBA Class of 2019.
Stern last month reported its profile for the incoming fall class and the data shows positive developments for the New York school on a few major fronts. Foremost among them: GMAT scores, where Stern had seen a big drop in 2016 from its customary average in the 719-721 range. After falling to 710 last year, GMAT averages at Stern rebounded to 714 for this fall’s class.
Applications continue to rise at Stern, from 3,696 two years ago to 3,773 in 2016 and now 3,927 in 2017, a 4% increase. That, in part, explains another boosted metric: the school’s higher enrollment of women, which has reached 38% (up from 35% last year). Another likely reason for the rise in female MBA candidates: Stern’s new Advancing Women in Business scholarship, through which the school is expected to distribute $1 million to Class of 2019 members.
PROGRAMS AIMED AT WOMEN, MILITARY SEEM TO BE WORKING
The merit-based scholarships will be awarded to students who demonstrate “a deep and abiding commitment to advancing women in business” and will cover the first year of tuition and fees. In a February news release, the school said credit for the scholarship should be shared with the Stern Women in Business club, which “reinforces the vision behind the scholarship.”
It’s not just women who will have better representation at Stern this fall — members of the military are taking advantage of new opportunities to attend the B-school, too. Following the November 2016 launch of the Fertitta Veterans Program, which underwrites more than half of tuition for veteran and active-duty students, those students will make up 7% of the incoming class (a new data point, so Stern does not have previous-year numbers to compare). The $15 million endowment gift from alumnus Lorenzo Fertitta (Class of 1993) and brother Frank J. Fertitta III also will provide academic and professional support customized for veterans to ease the transition from the military to B-school — and eventually the business world.
“The Fertitta family’s vision and generosity will support distinguished military personnel who seek the tools, knowledge and networks of an MBA in their return to civilian life, while significantly minimizing their financial burden,” said Peter Henry, NYU Stern dean, in a news release marking the launch of the endowment in November 2016. “Their gift allows the school to take a giant leap forward in the level of commitment we will be able to offer the best and brightest military talent in their future career pursuits.”
STERN GETS MORE EXCLUSIVE, BUT AVERAGE GPA FALLS
In other notable items from the Stern Class of 2019 profile, the acceptance rate dropped two points from 23% to 21%, though a total of 402 students are enrolled in the Class of 2019, up 10 students from last year. Average GPA dropped a bit, from 3.51 to 3.48, with a low of 2.76 to a high of 4.00. Meanwhile GMAT rose — and with the GMAT bump, Stern saw its lowest accepted GMAT rise 20 points, from 560 to 580, and its highest drop 10, from 790 to 780.
Even as Stern’s percentage of women in the MBA program rose 3 percentage points in one year, its share of global minorities (30% down to 29%) and U.S. minorities (12% down to 11%) each ticked downward. However, Stern’s international population climbed six points, to 37%, halting a slide to the school’s lowest percentage in six years.
Stern’s MBA program continues to be a destination for a surprising number of arts, humanities, and social sciences undergrads, though that number fell precipitously from last year, down 9 points to 29%. Those with business undergrad degrees climbed from 29% in 2016 to 36% last year. Consider this when looking at outcomes: According to Stern’s 2016 employment report, most MBAs went into finance (40.0%) or consulting (33.8%).
See below for more numbers from the Stern Class of 2019 profile.