Pkit wrote:
Hi,
Almost all of you guys often (especially now) ask youself, your friends and forum members:
"So what is my chance of being admitted to top business school this year?! I would go to any top school if admitted!"Now most of us are expecting R2 decision deadlines and the reason we ask the above question is more of desire to hear a moral booster "Yes, of course you will get in!" than realize what is the probability of getting into top business schools.
I have done an analysis using the available informnation and have come to a conclusion that the probability of getting into top schools roughly equals to
49%.
Sexy enough, isn't it? How did I calculate the acceptance rate? Well, look inside the XLS for my calculations.
I must expect that my analysis may be challenged by some of you.
The potential areas may be: my assumptions (each candidate on average submits about 5 applications), the acceptance rates and the yield rates.
However, overall I think that the input data is reasonable and thus the output must be reasonable too.
Guys, I would appreciate your thoughts, ideas, critics (grounded one and emotionless) and feedback.
Just let me know if you liked the analysis and whether it bolstered your confidence before the R2 decision deadlines.
Good luck!:)
Hi Pkit,
I appreciate the job you did in calculating the acceptance rate for top schools. This is a very good figure for people who are just interested in reading statistics about US b-schools admission. But i think it is an impractical figure, with no use to an applicant in deciding which schools to apply.
First of all to realize the acceptance rate of 49% you will have to apply in all 16 schools, which is impossible. Secondly even after applying to all the schools & spending abt 1.5-2 Lacs if you are gonna have a 50-50 chance of getting at least one school or 50% chance of getting no school, do you think anyone will ever apply?? No one.
What is totally missed in this analysis is the fact that acceptance rate differs for different schools & different candidates, depending on their profiles. The average figures is coming out to be 49%, but if we drill down, this figure will be very low for top 5 schools & will increase as we go down in the ranking order. Secondly if we move across candidate profiles from OK to Good & to very good, the rate will vary.
So to sum up we need another statistic that takes in consideration factors like - GMAT score, yrs of work ex, Quality of work ex, Graduation school, GPA, ECA, Other credentials etc, then give a weight to each factor & calculate a net score for each candidate. Then a similar score range for each school, with admit class profile, should be calculated. This can give the real picture.
Note: My scoring logic is only for the argument sake, even i cant calculate it, as collecting data for admit class is impossible for one person...