Targeted Strategies for Female MBA Applicants

female MBA applicants

Today is International Women’s Day—a perfect opportunity to discuss targeted strategies for female MBA applicants. As an MBA, entrepreneur, and businessperson, Stacy Blackman knows that women can more than handle business school and the application process just as well or better than anyone. Stereotypes do persist, however. In reality, women pursuing graduate management education are still underrepresented on campus.

Curious about your chances of getting into a top b-school? Contact us to talk strategy with a free 15-minute advising session with an SBC Principal Consultant.

MBA Enrollment Outlook in 2024

Thankfully, the outlook has improved over the past decade. 2023 was a banner year for women enrolled in full-time MBA programs, according to the latest report by Forté Foundation. The nonprofit, founded to boost women’s opportunities in business leadership through access to business education and professional development, reported a record of 42% women’s MBA enrollment at their 58 member schools.

For example, women now make up 45% of Harvard Business School’s Class of 2025. They also represent 50% of the incoming class at the University of Pennsylvania’s Wharton School. Meanwhile, Stanford Graduate School of Business reported female enrollment at 46% for the Class of 2025.

Key highlights of Forté’s 2023 report include:

  • Women’s enrollment in full-time MBA programs in Fall 2023 rose to a record 42%, up from 41% in 2022, 38% in 2018, and 34% in 2013.
  • For the first time in Forté’s history, five business schools reached gender parity, with three following closely behind. In 2022, three schools achieved gender parity, but only one in 2018.
  • Thirty-four out of 58 Forté member business schools reported 40% or more women enrolled, up from 27 in 2022 and 19 in 2018.
  • Fifteen schools enrolled 45% or more women, down from 17 in 2022. However, five schools came close at 44%, a substantial jump from only four schools with 45% or more women enrolled in 2018.
  • Business schools based outside the U.S. saw an increase of over three percentage points in women’s enrollment in full-time MBA programs, aligning them with U.S. schools for the first time since Forté started reporting in 2011. Non-U.S. schools had nearly 42% women enrolled in 2023, up from almost 39% in 2022.

“Given economic and other headwinds, including diversity, equity, and inclusion challenges, we are thrilled to see women’s MBA enrollment continue its slow but steady climb this year,” said Elissa Sangster, Forté’s CEO.

Business schools have really ramped up their efforts to recruit and groom future women leaders. Some male-dominated career paths, such as investment banking, need more women on board.  Therefore, women in MBA programs targeting finance may have an advantage over one pursuing a role in brand management.  This is true in the MBA admissions process as well as in the job search.

If you’re a woman planning on pursuing an MBA, make sure to take advantage of every available opportunity. A great place to start is at a workshop event for women hosted by the program you’re considering.

While you’ll also want to attend general information sessions, these diversity events can help shape your school selection process. You’ll meet and network with other prospective students, current students, alumni, and faculty. You can also ask questions about the specific opportunities for women in the MBA program.

Self-Confidence is Key for Female MBA Applicants

Now, for the $64,000 question: Are there specific tips and tactics just for women who are applying to business school? These tips won’t apply to every female applicant. However, certain demographic stereotypes persist, and being aware of these red flags makes good sense.

We have worked with several clients whose recommenders received calls from the admissions committee to probe specific points.  In particular: “Is the applicant confident, will she speak up in class discussions, is she timid, etc…”  Almost all of these anecdotes have occurred with female clients.

Female MBA applicants must ensure they exude confidence when putting their materials together. The admissions committee shouldn’t doubt whether the applicant will raise her hand and contribute to the classroom discussions that form a crucial part of the MBA learning experience. Essays, interviews, and recommendation letters should indicate a high comfort level with speaking out, defending points of view, and collaborating with all types of people.

Another area of potential weakness, particularly for women who majored in the liberal arts as an undergrad, is demonstrating strong quantitative skills. The admissions committee wants to ensure you can handle the MBA course load. A solid GMAT score, supplemented by additional finance, calculus, or statistics classes taken at the local community college, will prove you have the bona fides to succeed.

Partner with Stacy Blackman’s best-in-class GMAT and GRE experts and increase your score significantly. Check out our test prep services here. Request a free game plan chat with SBC’s lead test prep coach by emailing testprep@stacyblackman.com.

Try not to become intimidated by all of the amazing things your fellow applicants have accomplished and second-guess the value of your own strengths and experiences. Focus instead on what makes you unique and how you plan on contributing to the MBA community once admitted.

During the MBA interview, female candidates frequently begin their answers with a disclaimer that reveals their insecurities and detracts from the positive information that follows. Don’t downplay achievements for fear of coming across as bragging. There’s a difference between boasting and conveying your skills and accomplishments with pride. Confidence without attitude is what you’re aiming for.

Don’t let the expense scare you off.

Finally, women shouldn’t let the financial expense of business school be a barrier to pursuing an MBA degree. Look into all of the resources—loans, scholarships, employee sponsorships, fellowships, and work-study options—that can offset the high cost of an MBA.

Take the long view of the return on investment your target schools provide. Many candidates find they can pay off their student debt within five years of graduating. Attending almost any business school is possible with the right financial aid package.

Despite some barriers, real or perceived, women considering business school should know that an MBA is truly one of the best ways to transform their careers by giving them the skills and knowledge necessary to be successful.

***

Are you a woman interested in pursuing a graduate management education? Stacy Blackman Consulting offers multiple services to meet your MBA application needs! From our All-In Partnership to interview prep, essay editing, resume review, and much more, we’ve got you covered. Contact us today for a free 15-minute advising session to talk strategy with a Principal SBC consultant. 

Here’s a snapshot of the caliber of expertise on our SBC team.

SBC’s star-studded consultant team is unparalleled. Our clients benefit from current intelligence that we receive from the former MBA Admissions Officers from Harvard HBS, Wharton and every elite business program in the US and Europe.  These MBA Admissions Officers have chosen to work exclusively with SBC.

Just two of the many superstars on the SBC team:
Meet Anthony, who served as the Associate Director of MBA Admissions at the Wharton School at the University of Pennsylvania, where he dedicated over 10 years of expertise.

Meet Andrea, who served as the Associate Director of MBA Admissions Marketing at Harvard Business School (HBS) for over five years.

Tap into this inside knowledge for your MBA applications by requesting a consultation.

Contact

(323) 934-3936
info@StacyBlackman.com

Latest Blog Post

The Big Question: Which Business Schools to Target?

Spring is all about transformation and new beginnings. And in our corner of the universe, that means it’s time for a fresh crop of MBA aspirants to evaluate their B-school options. Deciding which business ...