U. S. Business schools are waiting for the current storm of positive economic news to pass. The latest to report a significant drop in MBA applications over the past cycle is Columbia Business School, which is also the most recent to make up for the bad news with gains in other crucial metrics.
As many MBA candidates remained in their well-paying jobs in 2021–2022, Columbia’s applications decreased significantly, similar to those of the Wharton School at the University of Pennsylvania and other schools. The number of applications for CBS decreased by more than 350 to 6,177, a 5 5% decline; in response, the school increased admits by more than 12%, leading to a jump in acceptance rate to just over 22% from 18 6% in the previous cycle.
At least until more schools report their new data and many likely join CBS in having slightly widened the gates while they wait for an economic downturn or other paradigm-shifting event, Columbia’s acceptance rate is at its highest level in the last five years, knocking the school out of the pantheon of most exclusive MBA programs.
Columbia MBA Acceptance Rate
Columbia Business School’s entering class of 2021 had a roughly 16% rate of acceptance; out of over 6,500 applicants, 1,215 received an offer of admission.
847 of the accepted students were enrolled in the program between its August and January entries.
Students have the option to start their coursework in August or January thanks to Columbia’s program. The acceptance rate and admission requirements are identical for each program.
Since the January cohort uses the summer term to finish up their second-semester coursework, students planning to complete a summer internship typically begin in August.
Apply to Columbia’s Deferred Enrollment Program if you’re an undergraduate or a graduate student in another field who wants to gain work experience before enrolling in an MBA program. With a slightly different essay section, these applicants submit essentially the same application.
Because their applications will be read earlier in the review process, students applying through Early Decision may have a marginally higher chance of being admitted. However, submitting an Early Decision application necessitates a commitment to enroll if chosen.
Columbia MBA Tuition
Base tuition for Columbia Business School’s MBA program costs $77,376. 00 per year; the total first-year budget, which includes books, fees, and housing
Since they finish the first year in just eight months, students who start in January have lower overall spending. However, applicants must submit an August admissions application in order to be considered for merit-based scholarships.
Several merit fellowships exist, including the Columbia Fellows program, which provides partial and full tuition for candidates showing the most promise as future global business leaders. Some awards, like the Board of Overseers Fellowship, can renew for the second year.
While Columbia MBA scholarships are based primarily on need, some awards consider merit or student background, among other qualifications. No separate application process is necessary; all accepted applicants receive consideration for all financial awards.
Additionally, accepted students will have access to loan application materials and loan application guidance. More than half of Columbia University’s MBA students obtain loans to finish the course of study.
Financial aid counseling at Columbia encourages all accepted candidates to explore outside scholarship and loan sources.
The Business School forbids MBA students from working while enrolled in this demanding program, despite the fact that Columbia graduate students frequently supplement their financial aid by working as researchers or teaching assistants.
Students enrolled in the Ph. D. program typically fill these posts in the business school.
Columbia MBA Requirements
Applicants must submit a one-page resume and undergraduate transcripts, along with GPA and test scores.
Candidates may opt to take the Executive Assessment or GRE in place of the GMAT since Columbia does not require it.
Each applicant’s career goals must be described in detail and concisely in their application essay for Columbia Business School.
Successful candidates should provide specific details about their prior employment experience as well as how they believe a Columbia MBA will advance their career.
The short answer question and career goals essay are the first two items in the essay section. For their second and third essays, applicants can choose from a variety of topics, such as talking about a favorite book or describing instances in which they demonstrated one or more of the five crucial diversity skills that Columbia Business School values.
Candidates may include an optional additional essay in their application explaining any exceptional circumstances. All applicants must complete their required sections because those applying for Deferred Enrollment must complete a different essay section.
One letter of recommendation is provided by the manager or supervisor of the new applicant. Columbia offers clear instructions for recommenders, emphasizing performance and the personal traits that set the candidate apart from other qualified people.
Some applicants are invited by Columbia to interview, but applicants cannot specifically request an interview. To demonstrate their suitability for the program and gain work experience, CBS encourages undergraduates interested in the program to apply via Deferred Entry.
Students who are accepted must complete 60 credits in total, including at least 54 in-person business courses, to earn their MBA. Most students graduate with more than 60 credit hours.
Columbia MBA Notable Alumni
The American Red Cross, Goldman Sachs, Morgan Stanley, BuzzFeed, and other businesses and organizations are led by Columbia alumni.
Several members of Congress and the Parliament, former White House Chief of Staff Erskine Bowles, and former Secretary of State Alexander Haig are all Columbia alumni who currently serve in public office.
Among Columbia MBA graduates are Deans and Chancellors of University Departments and Systems, including David C. Schmittlein, Dean of MIT’s Sloan School of Business.
Graduates of Columbia’s MBA program include Money Magazine writers Mitch Albom and Donna Rosato as well as Pulitzer Prize-winning author Eudora Welty.
Warren Buffet, a distinguished Columbia alumnus, continues to be associated with American philanthropy and finance. Buffet enrolled in Benjamin Graham’s classes at Columbia Business School, and he received his degree in 1951.
Today, Buffet is one of the richest men in the world and is regarded as one of the foremost experts on financial strategies.
Columbia MBA Ranking
Columbia Business School ranks in the top ten nationally and even globally, according to most ranking sources. U.S. News places Columbia at number 8, with individual program concentrations like Real Estate and Finance ranking among the top five.
With a focus on five key indicators—employability, entrepreneurship and alumni outcomes, return on investment, thought leadership, and faculty and student diversity—QS improved its ranking methodology for business schools in 2021. QS interviews global employers and institutions to complete their rankings.
The Economist evaluates MBA programs and ranks them both generally and within specific performance areas. Columbia earns top ten rankings in areas related to graduate salary and job offers; the MBA program overall ranks at number 11 overall.
The Financial Times’ 2020 Global Rankings includes Columbia at number 8.
Should You Attend Columbia MBA?
There are many good reasons for business students who want to succeed in the elite corporate world to think about enrolling in a top-ten program like Columbia’s.
The program provides concrete advantages like networking opportunities in addition to prestige attained through years of executive training for some of the biggest and most powerful companies in the world.
Candidates who want to work while completing their graduate training at Columbia have a number of flexible options. On the New York campus, an Executive Education Program meets on Fridays and Saturdays, and several programs are offered on other campuses in collaboration with institutions like the London Business School.
Because of its proximity to one of the most significant financial districts in the world in New York City, Columbia University gives its students access to the most recent trends, the brightest minds, and the daily pulse of international business.
Future business leaders come to Columbia for the quality of its educational practice, the connections and credibility that come with a Columbia MBA, as well as for the prestige and level of training to place them at the highest levels of global business. For a select group of motivated students, the effort pays off as evidenced by data showing rising salary rates.
How To Get Into Columbia | Essential Advice from an MBA Admissions Expert
What GPA do you need to get into Columbia MBA?
MBA Student Profile %E2%80%94 Class Entering 2022 (January and August)Applications Received6177GMAT Scores (middle 80%)700%E2%80%93760Undergraduate GPA (average)3 6Undergraduate GPA (middle 80%)3. 1–3. 9Work Experience (average)5 years.
How prestigious is Columbia MBA?
Columbia University 2023 Rankings Columbia University is ranked No. 8 (tie) in Best Business Schools. Schools are ranked based on how well they perform against a number of generally recognized indicators of excellence.
What is the hardest MBA program to get into?
The Top 25 Hardest Business Schools to Get Into [Rankings]#8. #7. NYU Stern Business School. #6. UCLA Anderson School of Management. #5. UC Davis Graduate School of Management. #4. MIT Sloan Business School. #3. UC Berkeley Haas School of Business. #2. Harvard School of Business. #1. Stanford Graduate School of Business.
What GMAT score do I need for Columbia?
While a score of 750 is excellent for getting into CBS, a score of 740 or higher is equally good and will undoubtedly increase your chances of getting invited to an interview at Columbia.