Top U.S. Business Schools Report A Dramatic Decline in MBA Applications

The most prestigious B-schools across the U.S. are seeing fewer applicants as prospective students forego grad school to stay in a hot job market.

Entrance to Harvard Business School, sign with 'Harvard Business School' and brick building in background
Harvard's Business School and other top MBA programs are seeing an application decline.
(Photo by MediaNews Group/Boston Herald via Getty Images)

Top business schools across the U.S. are experiencing a steep decline in MBA applications.

The Wharton School at the University of Pennsylvania reported a 13% drop in MBA applications for the 2024 cycle, while Harvard Business School saw applications fall by more than 15%, according to a Wall Street Journal report.

Meanwhile, applications for business schools at Yale University, New York University and the University of Chicago dropped by 10% or more. And they fell by 20% at UCLA’s Anderson School of Management, according to Crain’s Chicago Business.

A competitive job market and a waning interest in longer master’s programs have led to the decrease in applications, which rose during the Covid-19 pandemic as universities extended deadlines and waived certain requirements. Top U.S. Business Schools Report A Dramatic Decline in MBA Applications