MBA: The Why, The Whats & The Hows

MBA from Stanford University: Requirements & Fees

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Stanford University is one of the world's most prestigious universities, and it rarely needs an introduction. It has retained its #5 position in the QS World Rankings and is home to some of the best business, engineering, medical and liberal arts departments. Stanford University offers over 200 graduate degrees in 90+ fields. In this blog, we will discuss the Stanford Graduate Business School’s MBA program.

Stanford’s MBA program has been ranked #1 in the QS Global MBA since 2021. With a rich cultural history, hands-on learning experience, international exposure, and high returns on investment, pursuing an MBA from Stanford is worth all the investments. However, getting admitted to Stanford GSB is not a cakewalk. Primarily because of its competitive acceptance rates varying between 6-9%, high tuition fees of approximately USD 82,455 / INR 68,80,850 per year and strict prerequisites regarding standardised scores. Hence, we have put together everything you need to know to apply for an MBA at Stanford in this blog. From the why, hows, and whens, we have covered everything!

If you want to study at Stanford, reach out to us! For the past 9 years, Yocket Premium services including AI-based tools and personalised counselling have assisted 10,000+ students gain admission to top-ranked universities globally, including Stanford, Harvard, Columbia, Oxford and many others. Yocket is here to streamline your study-abroad process, be it in MBA or any other field. From shortlisting universities to applying for loans and visas, we are here from start to finish. So why make your dreams wait? Strategise Your Study-Abroad Journey Today!

Table of Contents

  • Stanford University MBA
  • Why Study an MBA at Stanford University?
  • MBA Specialisations offered at Stanford University
  • How To Apply For an MBA at Stanford University
  • Tuition Fees for MBA at Stanford University
  • MBA Scholarships at Stanford University
  • From the Desk of Yocket

Stanford University MBA

The Stanford Graduate School of Business (GSB) offers a highly-regarded Master of Business Administration (MBA) program. It is a full-time two-year program, equipping students with a general understanding of management principles. The Stanford GSB MBA program is consistently ranked among the top globally, maintaining its #1 position since 2021. Consequently, the business school is highly selective with an acceptance rate of 6-9%. Below is a class profile of Stanford MBA 2023.

Class Size

426

Countries Represented

63

International Students

47%

Diversity Women

44%

Avg. Years Work Experience

4.8

Acceptance Rate

6-7%

GMAT Average

738

GPA Average

3.77

Why Study an MBA From Stanford University?

Earning an MBA from Stanford University's Graduate School of Business (GSB) can be a transformative experience, opening doors to exciting career opportunities and fostering personal growth. In an atmosphere unlike any place else, students will be pushed and challenged by top-notch faculty members and encouraged by their peers to realise their true potential. Currently, tens of thousands of Stanford GSB alumni globally are working tirelessly to impact the world positively, by working in managerial positions at top companies like Google, Apple, McKinsey, and more. Some of the industries where graduates are currently working include Finance, Technology, Consulting, and Healthcare.

Here are some of the reasons why Stanford GSB might be the right fit for you!

MBA Specialisations offered at Stanford University

A Master of Business Administration (MBA) degree from the Stanford Graduate School of Business (GSB) emphasises creating well-rounded business leaders. Although no formal specialisations exist, students can customise their education by selecting electives from nine distinct academic areas. These areas offer an in-depth look at several business functions:

  • Accounting
  • Finance
  • Economic Analysis and Policy
  • General and Interdisciplinary Studies
  • Marketing
  • Organisational Behaviour
  • Operations, Information and Technology
  • Political Economy
  • Strategic Management

Furthermore, Stanford GSB provides courses tailored to particular interests, like healthcare management, brand management, and entrepreneurship. The Stanford MBA program prepares graduates for success in various industries. The specialised courses and elective system give students the freedom to pursue their interests while acquiring a solid foundation in general management.

MBA International Study Programs

As a part of the curriculum, Stanford GSB requires students to complete at least one global experience in their first year. Students have four experiences to choose from:

  • Global Management Immersion Experience: Students spend four weeks in a foreign country working on projects during the summer.
  • Global Seminars: Seminars provide in-depth coverage of a global business topic, and students spend eight to ten days in the seminar location.
  • Global Study Trips: Travel to an international location for eight to ten days in a group of 20 to 30 students to develop a strong understanding of a global issue.
  • Stanford-Tsinghua Exchange Program: Collaborate with students from Tsinghua University School of Economics and Management on academic projects.

Next, let us find out the steps involved in applying for an MBA at Stanford Graduate Business School.

How To Apply For an MBA at Stanford University

Getting into Stanford's Graduate School of Business (GSB) MBA program is highly competitive, but with strong preparation and a standout application, you can increase your chances. Here's a breakdown of the application process:

  1. Prepare Documents for the Application

You should focus on crafting the important documents that are mandatory for an MBA at Stanford GSB.

Letters of Recommendation

Two LORs must be submitted.

  • One LOR from the direct supervisor at work who is currently in place (or the next best option). You can utilise a direct supervisor from a summer job, part-time job, or internship if you don't have full-time work experience.
  • The second LOR must be provided by someone who has overseen your work. You can seek a recommendation from a supervisor from a volunteer program, extracurricular activity, or community service.

What must be included in the LORs?

  • The applicant's track record compared to other competent candidates in comparable positions, with precise instances and elaboration on your strengths. (No more than 500 words)
  • The most significant piece of constructive criticism given to you, and your response to it. The situation must be specific and explained in detail. (Up to 500 words)

Essays

You must provide a single document with the two essays in it. The document must be double-spaced and have a combined word count of no more than 1,150.

  • Essay 1: What is most important to you, and why? (700 Words)

Write this essay thoughtfully. Mention why this course is important to you, and what will you gain from it. Elaborate on which individuals, ideas, or events have influenced your viewpoints. Moreover, you must highlight your attributes that can contribute to the spirit of GSB.

  • Essay 2: What attracted you to Stanford? (400 words)

Explain your goals and how your time at Stanford Graduate School of Business will enable you to achieve them.

Resume/CV

Update your resume to highlight relevant skills, experiences, and accomplishments. Keep it concise, ideally one page per ten years of experience

  1. Prepare the Additional Documents

Besides the aforementioned mandatory documents, you must keep the following paperwork handy before beginning your application.

  • Upload the official transcript(s) from all universities you have attended.
  • Send your GMAT and GRE results.
  • Submit your results for English language proficiency.

Short Answer Question (optional): Consider instances where you made a difference in a work-related, recreational, academic, or other context. What effect did you have? Why was it important to you or other people?

  1. Begin the Application Process

Once you have all the documents in place, you can begin the application process by heading to the Stanford GSB website. The application deadlines for the Stanford Graduate School of Business (GSB) MBA program in 2025 will be:

  • Round 1: September 11, 2024 
  • Round 2: January 3, 2025

Then, you must pay the non-refundable application fee of USD 275 / INR 22,950.

Suggested: How to Get into Stanford University!

Now that you have an idea regarding the application process, read on to get a breakdown of the tuition fees for an MBA at Stanford GSB.

Cost of Studying MBA From Stanford University

Below is a breakdown of the first year's total tuition and cost of living while pursuing an MBA at Stanford GSB in 2024-25. (Note: The cost structures are different for married students, and students with children. If you are single, the following will be relevant for you:)


Expenses


Cost


Tuition Fees for MBA at Stanford


USD 82,455 / INR 68,80,850


Living Expenses


USD 19,008 / INR 15,86,210


Housing


USD 20,880 / INR 17,42,430


Medical Insurance


USD 7,620 / INR 6,35,890


Health Fee


USD 783 / INR 65,340


Total


USD 130,746 / INR 1,09,10,720

 

MBA Scholarships at Stanford University

Applying to business school is a significant life decision, and you should begin financial planning before embarking on this journey. Stanford GSB accepts an accomplished and diverse batch of students regardless of their financial status. Every MBA student, regardless of citizenship, is eligible for financial aid.

  • Stanford GSB Fellowships are provided entirely based on demonstrable financial need. About half of Stanford MBA students earn fellowships. The typical Stanford GSB fellowship is around USD 44,000 / INR 36,72,380 per year, totalling $88,000 / INR 73,44,760 for a two-year MBA program.

  • Knight-Hennessy Scholars Program is not exclusive to the MBA program, although it does give full aid for all graduate programs at Stanford, including the MBA. The program's goal is to build a community of future global leaders who display leadership, innovation, and a desire to improve the world.

  • Stanford Reliance Dhirubhai Fellowship is exclusively for Indian students admitted to Stanford's MBA program. It covers the whole cost of tuition and course-related expenses, along with a stipend to cover living expenses and other educational expenses.

From the Desk of Yocket

Pursuing an MBA from Stanford’s Graduate Business School can offer a plethora of opportunities for you, in terms of education and high returns on investment. To get admitted to the university, craft your application mindfully. Utilise the essays and LORs to convey your viewpoints and elaborate on how you can enrich their culture and university. Employers in every industry value Stanford MBA graduates greatly, offering salary packages up to USD 2,31,259 / INR 1,92,98,510

Stanford University MBA admissions are competitive for various reasons, but it is achievable with the correct planning and assistance. Yocket is a one-stop platform that offers assistance with all stages of the application procedure. With 15+ years of experience, our Yocket experts have assisted 10,000+ students to get into the top 100 universities worldwide for years. Just Book A FREE Video Consultation Call Today, and get assistance with applying to, meeting the prerequisites, acing the standardised exams, and more to get into Stanford GSB for an MBA!

Frequently Asked Questions on Studying MBA from Stanford University

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