Application Surge, Record GMAT, And A Finance Spike: Inside NYU Stern’s New MBA Class

Applications to NYU Stern School of Business’s full-time MBA program jumped to nearly 5,000 for the Class of 2027 — a 60% increase from just two years ago. The larger pool helped push the class GMAT average to a school record and allowed Stern to actually increase its international population, bucking the declines reported at many U.S. MBA programs this fall.

Stern’s new cohort of 336 students is smaller than last year’s 352 but nearly identical to its MBA Class of 2025. The contraction in class size comes as Stern’s application volume soared: 4,933 applied this year, according to class profile data released by the school today (October 16), compared with 4,550 last year and 3,075 two years ago. With more candidates, Stern could be more selective without radically changing the shape of its class: Its acceptance rate dipped to 24%, lowest since fall 2021.

Among the notable shifts: Finance backgrounds rose sharply in the new class, consulting and tech slipped, and average GPAs held at the record high set by last year’s class. Stern lost ground on women’s enrollment, dipping to 45% from a school record 47%, as well as enrollment of under-represented minorities, which declined to 18% from 22%. But the school notched another big victory with a 43% international share that marks an increase from last year — and contrasts sharply with declines at Wharton, Duke Fuqua, Carnegie Mellon Tepper, and UCLA Anderson.

NYU STERN MBA CLASSES 2021-2027: BY THE NUMBERS

NYU Stern	MBA Class of 2027	MBA Class of 2026	MBA Class of 2025	MBA Class of 2024	MBA Class of 2023	MBA Class of 2022	MBA Class of 2021
Applications Received	4,933	4,550	3,075	3,553	3,958	3,652	3,518
Admits	1,161	1,141	966	962	771	1,059	915
Admission Rate	24%	25%	31%	27%	19%	29%	26%
Enrolled	336	352	327	324	360	317	359
Yield	28.9%	30.9%	33.9%	33.7%	46.7%	29.9%	39.2%
GMAT 10th Edition Average	737	733	732	733	729	723	721
GMAT 10th Edition Range	660-770	650-780	650-780	640-800	620-770	640-780	600-780
GMAT Focus Average	682	NA	NA	NA	NA	NA	NA
GMAT Focus Range	595-775	NA	NA	NA	NA	NA	NA
GRE Average	327	328	326	325	324	324	NA
GRE Percentage	27%	23%	22%	21%	18%	23%	18%
GRE Quant Average	164	164	163	162	162	161	NA
GRE Quant Range	155-170	152-170	155-170	153-170	154-170	NA	NA
GRE Verbal Average	163	164	163	162	162	163	NA
GRE Verbal Range	154-170	153-170	155-169	150-170	149-170	NA	NA
GPA Average	3.64	3.64	3.61	3.62	3.59	3.6	3.52
GPA Range	3.18-4.00	3.03-4.00	2.96-4.0	3.03-4.0	3.0-4.0	3.01-4.0	2.84-3.99
Women	45%	47%	43%	45%	41%	43%	36%
Underrepresented Minority	18%	22%	17%	21%	17%	12%	9%
International	43%	40%	48%	44%	32%	32%	33%
Countries	43	50	46	41	32	30	36
LGBTQ+	10%	11%	13%	9%	NA	NA	NA
Military/Active Duty	9%	11%	13%	11%	10%	4%	4%
Average Work Experience	5.1 years	5 years	5.2 years	5 years	5.1 years	5.2 years	5.2 years
Average Age	28	28	28	NR	28	28	28
Age Range	23-38	22-39	21-37	23-42	23-40	22-40	21-39

Source: NYU Stern

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ACCEPTANCE RATE TIGHTENS AS YIELD SLIPS

Stern admitted 1,161 candidates to this fall’s class, another school record, for an acceptance rate of 24%. That’s slightly lower than last year’s 25% but well below the 31% reported in 2025. Only in 2023, when Stern admitted just 19% of applicants, has the program been more selective in recent years.

Yield continues to soften, however. Just under 29% of admits enrolled, compared with 30.9% last year and 33.9% in 2025. That’s a far cry from 2023, when the school’s yield peaked at nearly 47%. The downward trend echoes broader patterns at peer schools, as admitted students increasingly weigh multiple offers across U.S. and global programs.

Still, Stern used the bigger pool to its advantage. With more applicants to choose from, the school could be more selective and still maintain a strong, diverse class.

PRE-MBA INDUSTRY OF NYU STERN MBA CLASSES, 2024-2027

Industry	Class of 2027	Class of 2026	Class of 2025	Class of 2024
Financial Services	31%	22%	26%	24%
Consulting	15%	19%	12%	12%
Technology	8%	10%	10%	7%
Entertainment/Media	6%	5%	6%	5%
Military/Government	5%	7%	8%	8%
Law	4%	3%	2%	3%
Nonprofit/Arts/Education	4%	4%	6%	6%
Healthcare/Pharma	4%	5%	6%	4%
Real Estate	3%	3%	5%	4%
Advertising/PR	3%	5%	3%	4%
Manufacturing/Trade	3%	1%	2%	3%
Consumer Products/Retail	2%	6%	5%	8%
Engineering	2%	2%	2%	1%
Energy	–	1%	1%	2%
Other	10%	7%	6%	9%

Source: NYU Stern

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SCORES CLIMB WHILE GPA HOLDS AT RECORD HIGH

Stern’s incoming class reported an average on the Graduate Management Admission Test 10th Edition, the older version of the test, of 737, the highest in school history, up from 733 last year. The full range of scores was between 660 and 770. For the first time, Stern shared separate GMAT Focus Edition results in its class profile, reporting an average of 682 and a range from 595 to 775.

The Graduate Record Exam continues to play a role in admissions: 27% of students submitted GRE scores, a new school high-water mark, up from 23% last year. The share of GRE test-takers has risen steadily from the high teens earlier in the decade. The average GRE combined score was 327, down 1 point, with quant and verbal averages of 164 and 163, respectively.

Stern’s new MBA class also matched last year’s record average GPA of 3.64, continuing an upward climb from 3.52 in the Class of 2021.

UNDERGRADUATE MAJORS OF NYU STERN MBA CLASSES, 2024-2027

Undergraduate Major	MBA Class of 2027	MBA Class of 2026	MBA Class of 2025	MBA Class of 2024
Business	30%	32%	27%	27%
Engineering, Math, Science	25%	23%	27%	25%
Economics	19%	18%	19%	15%
Social Science	16%	15%	17%	21%
Humanities, Arts, Other	10%	12%	10%	12%

Source: NYU Stern

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DIVERSITY MIX SHIFTS BUT INTERNATIONALS GAIN

Women make up 45% of the Class of 2027, down slightly from 47% in the Class of 2026 but far higher than the 36% reported for the Class of 2021. Gender balance at Stern has been legitimately closing in on parity since the Class of 2024.

Underrepresented minorities comprise 18% compared with 22% last year, consistent with the 17% to 21% range Stern has recorded in the years following the coronavirus pandemic. While the URM percentage has fluctuated, it represents significant growth from the single-digit level (9%) of the last class to enroll before Covid-19.

International students increased to 43%, up from 40% last year, and hail from 43 countries, down from 50. LGBTQ+ students represent 10% of the class, and military or active-duty members make up 9%; both are down from 13% two years ago.

STUDENTS BRING A RANGE OF MAJORS TO STERN

The Class of 2027 profile shows a clear tilt toward finance. Financial services as the main prior work background of incoming students surged to 31%, up sharply from 22% in the Class of 2026 — the largest increase of any industry category this year.

The other two pillars of pre-MBA work experience, meanwhile, saw declines: Consulting dropped to 15%, down from 19%, while technology fell to 8%, compared with 10% last year and in 2025. Those drop-offs track broader MBA market trends, as fewer professionals from consulting and tech entered the pipeline this cycle. Other industries held steady: entertainment/media (6%), military/government (5%), law (4%), nonprofit/arts/education (4%), healthcare/pharma (4%), real estate (3%), advertising/PR (3%), and manufacturing/trade (3%). Consumer products and retail slipped to 2% from 6% a year ago.

The professional profile of the class is consistent with recent years. Students bring an average of 5.1 years of work experience, and the average age is 28, with students in the class from 23 to 38 years old.

HOW STERN STACKS UP: WHARTON, DUKE, UCLA

Compared with peers, Stern stands out most clearly on international enrollment. Wharton’s MBA Class of 2027 reported just 26% international students, well below Stern’s 43% and decline from Penn’s own mark of 31% in the classes of 2025 and 2026. At Duke Fuqua, international representation fell to 38% this fall, down from 47% just two years ago.

At UCLA Anderson, internationals dropped to 35% after peaking at 47% in 2023. Carnegie Mellon Tepper also saw a big decline, from more than half the class two years ago to 37% this fall.

By contrast, Stern managed to grow its international mix, adding 3 percentage points over last year. Combined with record marks in average GMAT and class undergrad GPA, Stern’s 2027 cohort stacks up competitively against peer schools that have struggled to hold their global share.

DON’T MISS LAST YEAR’S P&Q STORY ABOUT THE NYU STERN MBA CLASS OF 2026 and FUQUA TOPS 4,000 MBA APPLICATIONS FOR THE FIRST TIME — BUT LOSES GENDER PARITY

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