Meet Stanford GSB’s MBA Class Of 2022

THE SEARCH FOR HAPPINESS

In other words, Stanford MBAs quickly learned one of the key tenets of business: Your ability to grow and achieve often stands in direct proportion to the caliber of people around you. “We engage with people who challenge you to think bigger and better about what is possible and what impact you can have on the world, writes Conor O’Meara. “Of course, this is an exciting time and place to embrace a growth mindset. But, at the same time, it has given me pause. I’ve realized that embracing new challenges, and exploring the art of the possible, is ever more dependent on the people, places and context you are in… As we aspire to be leaders of consequence in the world, it’s important we consider not only how lucky we are to be in our current context, but (more importantly) consider how we lift up those that may not be as lucky, but just as able.”

Able…and humble, adds Archana Sohmshetty. “My classmates have won Olympic medals, started non-profits that have changed lives, and built large organizations from scratch. Still, they approach every conversation here with a sense of modesty and intellectual curiosity that is inspiring. This attitude stems from the ‘growth mindset’ that a lot of my classmates possess: they believe there’s always room for personal and professional development, and can learn a lot from each other.”

At Stanford, that growth isn’t a means unto itself. Instead, it is a path to something greater: fulfillment. “If the source of your worth is placed in accomplishment or attaining a certain state or status, you’re not likely to find (lasting) happiness,” adds Jacob Blaeser. “Being achievement-minded is a great asset, but allowing one’s level of achievement to dictate self-worth will leave anyone, at best, in a constant chase. Coming to a big-name school does not solve insecurities, anxieties, or self-consciousness. This does not mean the pursuit of great things is not worthwhile. Whatever you dream of, go for it! In fact, go for more! But pursue for purpose, not validation.”

A BIGGER CLASS

By the numbers, Stanford GSB weathered the COVID-softened 2019-2020 application cycle. Unlike many programs, the drop in applications was nominal, slipping from 7,342 to 7,324. Technically, the school’s acceptance rate climbed from 6.1% to 8.9%. Still, that rate remained the lowest among the world’s top MBA programs, including Harvard (13%) and Columbia (16.2%). In other words, the GSB remains the most selective program on the market. Better still, Stanford actually boosted its class size during the pandemic, going from 419 to 436 students.

For average GMAT, the Class of 2022’s score dropped by a point to 733 from the previous year. In contrast, average undergraduate GPAs rose a tenth of a point to 3.8. A quarter of the class also submitted GRE scores, which ran 165 verbal and 164 quant. TOEFL scores came in at 113. Overall, 14% of the class already holds advanced degrees, with 9% being the first member of their family to earn a college degree. The first-year students hail from 89 American and 55 international undergraduate programs.

The class also features 47% women, a percentage that equals the previous year. Students of color make up 37% of the class, up 10 points from last year. At the same time, international students account for a 35% share of first-years, down eight points. As a whole, the Class of 2022 is composed of students from 66 countries who speak 70 languages.

The largest segment of the class – 44% – majored in business-related fields as undergraduates. STEM majors represent 37% of this year’s students, followed by Humanities and Social Sciences at 18% according to the school’s class profile.  Professionally, the class comes from 291 organizations, with the largest segment of the class last working in Private Equity and Venture Capital (20%). Consulting and Technology represent 17% and 14% shares of the class respectively. The class also includes large blocs of students who last worked in the Public Sector and Nonprofits (8%), Arts and Entertainment (7%), Consumer Products (7%), Healthcare (7%), Financial Services (5%), CleanTech and Energy (4%), and the Military (4%).

#1 ACROSS THE BOARD

When you look at GBS metric across the board, the school generally comes out on top. Stanford ranks as the top MBA program in both the Poets&Quants and U.S. News & World Report rankings. Going in, Stanford MBAs average the highest GMAT (733). After graduation, they earn the highest base salaries ($159,544) too. In fact, the Class of 2022 drummed up $231,737 in overall pay, an 11% bump over the past two years.

The school is also popular with students and alumni. In a 2019 survey by Bloomberg Businessweek, Stanford GSB ranked #1 for Innovation and Creativity, Prestige, and Entrepreneurship (and #3 for Entrepreneurship.  In a different Princeton Review survey targeting students and alumni, the GSB notched the highest scores among all business schools for Classroom Experience and Career Prospects (and 3rd for Resources for Women). At the same time, the school finished 1st for its Management, Marketing, and Non-Profit curriculum.

Among employers surveyed by Bloomberg Businessweek, Stanford GSB students ranked 2nd for being Most Entrepreneurial.  That’s because entrepreneurship is a major strand in the school’s DNA. From 2016-2020, for example, Stanford MBAs founded 39 of the 100 most funded MBA startups, together raking in $1.431 billion dollars. That’s four times the amount generated by Harvard MBA founders over the same period. In fact, the combined funding to startups from MBA alumni at Harvard, Wharton, Berkeley Haas, and Columbia doesn’t even match Stanford’s total!  The school has also produced the most unicorn executives. At the same time, 455 GSB graduates have gone directly into entrepreneurship after graduation over the past seven years. While that total falls short of the 525 HBS grads who did the same, the number doesn’t reflect that HBS is twice the size of the GSB.

READY FOR LAUNCH

Yes, Stanford GSB is a startup hub, where a third of electives and nearly a fifth of clubs revolve around entrepreneurship. Not only does the program instill startup know-how, but also the courage to take a leap of faith. “The GSB planted seeds of action inside of me,” explains Jayce Hafner, a 2019 alum who co-founded her FarmRaise startup with a classmate. “I’m a risk-averse person and before b-school, I held fast to a mantra of needing more professional experience or financial resources before I was ‘prepared’ to start a venture. In addition to a treasure trove of startup courses and rich mentorship, the GSB culture presses us hard to answer the question: “Why wait?” I realized I didn’t want my life to feel like waiting in an airport terminal: I was ready for take off.”

Charlie Olson, a 2017 GSB alum who co-founded his Pando startup as a student, boils the success of Stanford startup formula down this way: “This is two years for you to explore,” he tells P&Q in a 2020 interview. “This is two years to try things you’re not good at. That liberates a lot of competitive individuals. And then you have all of the clubs and professors and lecturers who have done extraordinary things in entrepreneurship.”

And Stanford’s location – just 10 minutes from tech-heavy Silicon Valley – doesn’t hurt either, Olson adds. “If you look at a map, you’re right off Sand Hill Road. There is a lot of capital that is there to nudge people in the direction of starting things. And it’s amazing how quickly that capital can show up.”

AN INTERVIEW WITH PAUL OYER

What can MBA candidates expect in the coming year at Stanford GSB? What is the most underrated part of the business school experience? This month, P&Q posed these questions (and others) to Paul Oyer, Senior Associate Dean for Academic Affairs at Stanford GSB. Here are his thoughts on the current state of the program.

P&Q: What are the most exciting new developments at your program?

Oyer: “Experiential learning is an integral part of the Stanford MBA experience, so we’re excited to be rapidly expanding our experiential learning classes. This past spring, we offered a new course called “Scaling a Business,” where students partnered with entrepreneurs from underrepresented backgrounds to help scale their businesses. We also introduced “Policy Practicum: Alabama Innovation,” where students worked with the newly-established Alabama Innovation Commission on projects to promote innovation, entrepreneurship, economic development and high-skilled jobs in the state. These courses are among the many new additions to Stanford GSB’s already extensive list of experiential learning offerings, giving students hands-on learning opportunities and real-world experience that will best prepare them for the future beyond the classroom.

Also, engaging in dialogue with people who disagree with you has become a critical skill of today’s CEOs. In the upcoming school year, Stanford GSB Senior Associate Dean for Academic Affairs Brian Lowery will host a series of Leadership for Society conversations to explore the future of work (post-COVID) and the opportunities we have as a society to reimagine work during this critical time of change. These stimulating conversations will be a chance for the entire Stanford community, as well as the general public, to be exposed to and practice engaging with wide-ranging perspectives about the future of one of the most critical institutions that organizes our lives: work. This series of conversations is part of a concerted effort to expand the school’s offerings related to the role of business in society.”

P&Q: What is the most underrated part of your program that you wish prospective students knew more about?

Oyer: “Often the greatest learning for students is at the intersection between disciplines. The GSB experience does not end at the Knight Management Center. We encourage students to engage with entities across Stanford University such as Stanford Center for Human-centered AI, SEED, Haas Public Service Center, Stanford Woods Institute for the Environment, Freeman Spogli Institute for International Studies at Stanford, Precourt Institute for Energy, Stanford Bio-X, Hoover Institution, Clayman Institute for Gender Research, and the Center for Comparative Studies in Race & Ethnicity. This collaboration across interdisciplinary organizations drives innovative discoveries.

Students are also encouraged to take advantage of offerings all around campus. With the GSB situated within walking distance of six other world class schools—the schools of Engineering, Humanities and Sciences, Law, and Medicine; Graduate School of Education, and Stanford School of Earth, Energy and Environmental Sciences—business students can take courses that stretch their horizons academically as well as intellectually. And many do: about 85% of students take classes outside the GSB and approximately 20% of students pursue a joint or dual degree.”

Page 3: 12 Student Profiles From Class of 2022