How to get into Stanford Graduate School of Business (GSB)

Over 7,324 people applied to Stanford GSB in 2020, but with a class size of 436 students and a 5.9% acceptance rate for the class of 2022, GSB is perhaps the most difficult MBA program to get accepted into from a pure numbers perspective (HBS has more applicants each year, but also a larger class size. The HBS class of 2021 had a 10.2% acceptance rate). What is the difference between the applicants who were offered a spot and those who were rejected? What can you do to make sure you are one of the lucky people accepted to Stanford GSB?

Table Stakes

It is clear from the GSB website that there are some minimum table stakes you need to meet in order to gain admission into Stanford GSB.

GPA/GMAT/GRE: While GSB claims to have no minimum GPA requirement to gain acceptance, with an average GPA of 3.8, the average applicant shouldn’t be too far under a 3.5 if you want a decent shot at admission.

Not all schools and majors are created equal. While Stanford draws heavily from elite undergraduate institutions, they tend to be a little more forgiving for peer-school-but-not-Ivy League graduates than HBS. Anecdotally, we have also seen a greater concentration on quantitative majors such as economics and computer science.

The median GMAT score for the class of 2022 is 733 and the median GRE verbal and quantitative scores are 165/164. We tell the candidates that we work with that once you have higher than a 710, you don’t need to worry about retaking the GMAT, although if you have a very low GPA, a higher test score will help you. We like to use this website to calculate the GMAT score equivalent for the GRE.

There is no preference between submitting test scores for the GMAT vs. the GRE – take whichever test you feel you will score best in. People who are stronger at math tend to excel in the GMAT, whereas people who are strong verbally tend to do better on the GRE, but this is a generalization. Our recommendation is to take a free practice test or answer some practice questions for both tests to see which one you gravitate toward.

Work Experience: The average years of work experience is 4.7. Now, this doesn’t mean that if you have fewer than 4 years you will not get in; rather, it means that you should have enough work experience to allow you to make a significant impact in your role, and for most people that seems to take about 4-5 years.

The specific roles that GSB candidates tend to come from are the more technical ones in their industry. That means if you work at a bank, you work as an investment banker; at a tech company, as a software engineer.

Previous Industry: GSB does not care which industry you come from pre-MBA. Historically, GSB has had a reputation for being strong in tech. While this is true given its proximity to Silicon Valley, the most common background for applicants is actually Investment Management, PE & VC. However, like every top business school, GSB’s goal is to attract a good mix of students from different backgrounds and industries to bring diversity to the class. Keep in mind that if you’re applying from a common industry, you may need to have a stronger application to stand out.

But I have a 4.0 from Yale and I worked at McKinsey and Facebook – why did I get rejected?

A quick perusal of MBA forums will reveal numerous people posting their incredible stats and profiles, along with their rejection results from top schools. Why is this?

Here is the tough truth – there are way more people who apply to schools like Stanford GSB and meet the minimum table stakes than there are spots. Unlike college applicants, business school applicants to schools like GSB tend to be a more self-selecting group of people who feel like they at least have a remote shot at being accepted, i.e. meeting the minimum table stakes. So, it is clearly not enough to just meet the minimum table stakes. What sets apart those who get accepted and those who don’t?

What is that special ingredient? Narrative. It’s a simple word, and quite frankly, a simple concept. But it is often misused, forgotten, or implemented haphazardly. A narrative is a story arc that connects your personal inspirations and motivations to your career aspirations. In the case of an MBA application, a personal narrative will inform the admissions committee how you ended up on your current life story arc, show where this arc will take you by projecting it into future, and then argue why business school is the logical next step in your career because it is the perfect bridge to connect the two. Why are you more deserving to attend GSB than the hundreds of other candidates whose resumes and profiles look remarkably similar to yours?

How Narratives Differ Between GSB and HBS: What we find from our successful candidates at HBS and GSB is that HBS prefers the traditional Marshall-Ganz-style narrative that connects the individual’s candidacy with a particular career mission aligned with the mission of HBS, and with particular urgency given world or economic events. GSB prefers a less career-focused narrative and a more personal-focused one where you latch on to a time of trauma of vulnerability and explain how that set you off on a particular calling that provides a leitmotif for your involvements.

Final Thoughts: It is crucial that your personal narrative be authentic and reflected in every component of your application, something that takes a lot of deep personal introspection and reflection. For many people, this is a struggle, and it can help to have an objective third-party work with you to try and distill your personal narrative. Ivy Admissions Group originally started out by helping Waitlist clients, and over the years we have had the opportunity to help dozens of candidates fix their narratives and gain admission. If this is something you might need help with, please feel free to get in touch for a free consultation, or check out our Complete School Package and Narrative Bootcamp services.GSB websitethis website

How will the MBA experience at Stanford GSB be affected by the Coronavirus?

Stella is a member of Ivy Admissions Group and went to Stanford GSB for her MBA.

Unlike HBS, Stanford did not give people the option to defer unless there are special circumstances. 

When I read the news, my head was spinning with questions. How will I bond with my classmates? Will the networking be different? Will the virtual class experience be subpar to in person instruction? Will we get to move into housing?

After attending many Q&A live sessions with the dean of admissions, housing and my fellow classmates, I am starting to get a picture of what the MBA experience at Stanford will be like. I am actually optimistic and excited for the year to start.

Here’s why the Stanford MBA Experience will still be worthwhile during COVID19*:

1.      The fall quarter will be a hybrid approach. This means that large lectures will be remote while small group discussions will be in person. Many classes were already flipped classroom pre-COVID where lectures are delivered online and in-person time is used for problem solving. With restrictions around crowd size this is easier to deliver.

2.       Discussions with professors and others are still happening now. These interactions may just be 1:1 on campus walks with masks on.

3.      There will still be chats with industry leaders. They actually expect that it will be easier to get people to speak to the class because it’s easier to jump on a zoom than fly to campus.

4.      The NPS score for MBA students right now is currently 73 which is high. The school’s priority is to maintain this going forward.

5.      Experiential courses will be prioritized to be among the first to be offered in person.

6.      Alumni have been very supportive and finding opportunities for current students.

7.      While pre-MBA international trips have been cancelled, there’s many students self-organizing National Park and Lake Tahoe trips. There will just be a smaller group size and coronavirus specific rules to follow. 

*These details may change. I would check here for the latest.

Dealing with the “New Normal”

While the situation is not ideal, I’ve been impressed by how my future classmates have made the most of it. I’ve met most of the class before school even started because of the donut app we use in slack where it randomly matches people in the channel to have a virtual hang out. There have been many entrepreneurial programs to address the impacts of the Coronavirus – I joined a team (1 out of 50 teams) who launched a website to help aggregate financial resources for gig workers. Every week GSBers join Sunday Trivia where we battle it out on random facts in music, sports and history. People also prepare presentations on pain points in their industry during the “Real Problem Is…” webinar series so we can all learn from each other. The list goes on.

The Coronavirus pandemic is a once in a lifetime disruption to the way the world lives and works. If you are thinking through whether or not to apply, there’s no better time than now to head to an MBA program with the world’s best and brightest to think through these challenges and opportunities.

Updated April 2020: The Best MBA Deferred Admissions Programs (to apply to when still in college)

While most business schools require you to have between 2-5 years of work experience before you can apply to their flagship MBA programs, more and more business schools are offering deferred early admissions programs for college seniors. College is a great time to apply to business school. Applying now gives you another opportunity for admission, a potentially less competitive peer group to compete against, and much greater flexibility on when to attend. An offer of admission from a top program also enhances your resume prestige and hedges your career risk. There really is no downside. Offers of deferred admission usually give students a guaranteed spot in a future MBA class provided they spend two or more years getting business experience (which you will need anyways to get the most out of business school). Here are the top programs that offer such deferred enrollment options: 

Harvard Business School 2+2

Perhaps the most famous of the deferred admission MBA programs is Harvard’s 2+2, established by its famous former director Lee Leopold. While college seniors from any academic background are eligible to apply, some preference will be given to high potential individuals on paths that aren't as well established in leading to graduate business school, including applicants:

1. Planning to work in an operating company (tech, manufacturing, consumer goods, retail, industrials, etc.)

2. From a lower socio-economic background (first generation in college, lower-income family background, less family exposure to graduate school)

3. Going into a technically demanding role

4. Pursuing entrepreneurship

Students in college or graduate programs (attended directly after college, but not PhD programs, law school or medical school) can apply and defer attending the 2-year MBA program for between 2 and 4 years. To be considered for admission to the 2+2 Program Class of 2024 (entering fall 2022), you must graduate from your program between October 1, 2019 and September 30, 2020. 2+2 applicants pay $100 on the application fee compared to $250 for regular applicants. 2+2 applications have only one deadline: June 1, 2020.

Stanford GSB Deferred Enrollment

An excellent way into the US business school with the lowest acceptance rate. Stanford actually offers direct enrollment opportunities for college students, however in almost every case this deferred enrollment option is more advisable. Deferred enrollment is open to those who are in your final year of a bachelor degree or a joint bachelor/graduate program, and your degree will be conferred between October 1 last year and September 1 this year OR you are currently enrolled in a graduate program, which you began immediately following an undergraduate or undergraduate/graduate program.

In most cases the deferral requested by GSB for the student is 2 years. Candidates for this program can apply in any round, though Round 3 is slightly preferred, and the reduced application fee is $100.

Stanford intimates that this enrollment option is aimed at college seniors who seek to work in post-MBA industries that either require work experience (consulting) or previous work experience in that same field (private equity, biotechnology).

Wharton Moelis Advance Access Program

This deferred admissions fellowship program is only open to undergraduate students studying at the University of Pennsylvania. The Moelis Advance Access Program is a deferred admission program that gives Penn undergraduates a guaranteed pathway to the Wharton MBA after pursuing 2-4 years of work experience. The program focuses on Penn seniors whose academic and career interests expand traditional notions of business education.

Moelis Fellows access the Wharton network and resources during their deferment period and will receive a $10,000 yearly fellowship (or more based on merit) during the 2-year full-time MBA program. Applications open in March with Round 3 and the application fee is waived.

Chicago Booth Scholars Program

The Chicago Booth Scholars Program accepts applications from any current undergraduate student in their final year of study from all undergraduate institutions. The program allows you to complete the MBA application process while still at your undergraduate institution, then start at Chicago Booth after a conditional 2-4 year deferment period for professional experience. During the deferment period, Booth Scholars are expected to seek substantive work experience that will position them to succeed at Chicago Booth and beyond. Booth Scholars represent diverse interests and backgrounds, and are not limited to STEM or non-traditional applicants.

MIT Sloan MBA Early Admission

MIT Sloan MBA Early Admission is currently open to all enrolled full-time students who are:

• graduating or have graduated from an undergraduate degree program during the current academic year

• graduating from or currently attending a graduate degree program they entered immediately upon completing their undergraduate degree without full-time work experience

If admitted, successful candidates are expected to seek full-time work experience between two to five years. MIT Sloan welcomes applications from all areas of undergraduate concentration, including the humanities, the social and physical sciences, business, and engineering. Applications are typically due in June and there is no application fee for the MIT Sloan MBA Early Admission process.

Yale SOM Silver Scholars Program

Truly unique among the “deferred admission” programs is Yale’s Silver Scholars, which is an opportunity for college senior to pursue a Yale MBA degree immediately after graduation and begin an accelerated career path in any industry. Yale is looking for college seniors who will be future leaders in business, government, and nonprofit endeavors.

A three-year program, Silver Scholars spend the first year completing the core curriculum at Yale, the second year in an extended full-time internship, and third year taking elective coursework back at Yale before graduation. Extended internship placements include start-ups, government education departments, general management roles in large corporations, and investment firms. Though the Silver Scholar is different in character than the traditional MBA programs, it offers students a “first class ticket” at this prestigious business school that is rocketing up the rankings.

Columbia Business School Deferred Enrollment Program

The Columbia Business School Deferred Enrollment Program offers undergraduate students the opportunity to gain a few years of work experience with a guarantee of admission to Columbia's highly selective MBA program, and the flexibility to begin the full-time program 2-5 years after college graduation. The program accepts applications from students of all academic and personal backgrounds. Students who are graduating during the current academic year from a bachelor's degree program and students completing a graduate degree program (candidates must have started the graduate degree program directly after completing their undergraduate degree) are eligible to apply. Students enrolled in Ph.D. programs, law school, or medical school are not eligible. There is no application fee and applications are usually due in June.

Kellogg Future Leaders

College seniors and Master’s students who went directly into a graduate program from undergrad are eligible to apply to the Kellogg Future Leaders program. There is no preference for majors in any particular discipline. Once admitted, Kellogg will hold your spot for 2-5 years while you gain work experience. There is no application fee to apply, and applications are typically due in June.

Berkeley Haas Accelerated Access

This year Berkeley Haas is piloting a brand-new deferred admissions program. In the 2020 pilot cycle, the Accelerated Access program is exclusively available to UC Berkeley undergraduate seniors and graduate students in their final year of study who enrolled in their graduate program immediately after completing undergrad, without gaining full-time work experience. The program allows you to complete the MBA application process while in your final year of study, gain conditional admission, and then start your study at Berkeley Haas after a 2-5 year deferment period for professional experience. Students from diverse backgrounds and academic disciplines are encouraged to apply. There is no application fee. There are two application deadlines: Round 1 deadline in early April and Round 2 deadline in early June.

Darden Future Year Scholars Program

College students in their final year of study and fifth-year master’s students can apply to Darden’s Future Year Scholars Program. Admitted scholars may choose to begin their MBA after gaining 2-4 years of work experience. This program is a little unusual in that there are 4 deadlines – January, April, June, and August. There is no advantage to applying in an earlier deadline. Darden is not looking for students from a specific academic background. Admitted scholars will be considered for merit-based award at the time of admission (and will be considered for additional scholarships at the time of matriculation) and will receive a personal Darden mentor. There is no application fee to apply.

How Does Coronavirus (COVID-19) Affect My Round 3 Business School Application?

The global Coronavirus disease (COVID-19) has upended nearly every aspect of life as we know it. For those of you who are still wrapping up your business school applications for the class of 2022, what does this mean for you?

Many top business schools have extended deadlines for Round 3 and deferred MBA applicants. Additionally, business schools realize that many people who had no intention of applying to business school this year may now suddenly find themselves out of a job, causing them to re-evaluate their career plans and making applying to business school seem like a good option. These extended deadlines and relaxed testing deadlines give them a chance to apply. Read on for school-specific information and helpful links.

Harvard Business School

Instead of April 2, 2020, the 2+2 new application deadline is June 1, 2020 at noon ET. Decisions will be released on July 28, 2020 at noon ET. In a blog post published by Chad Losee, Managing Director of HBS Admissions, HBS reaffirmed its commitment to international students. “Today I want to reaffirm that HBS MBA Admissions will continue to admit the most talented international and domestic applicants, irrespective of citizenship, as we strive to build a class of leaders who will make a difference in the world…Any international admitted student who is unable to start the program due to a visa issue despite their best efforts will be deferred to next year’s MBA class."

Stanford GSB

Round 3 deadline remains April 8th, 2020 at 2pm PT. Applicants are allowed to submit required exam scores after the Round 3 deadline. If you cannot submit your scores before they post decisions on May 21st, 2020 and you are considered to be a competitive applicant, they may invite you to join the waitpool until they receive your scores and can further consider your candidacy. Test scores are accepted up until August 1st, 2020. You may be invited to interview without test scores but you will not be admitted without a test score.

Wharton

The deadline Round 3 has been extended to April 15th and for Advance Access to May 27th. Round 3 and Advance Access applicants can submit their applications without having sat for a standardized test. Please see the admissions website for instructions on how to enter your scores into the application. If admitted to Wharton, you will be admitted with the condition that official testing will be submitted before arriving on campus on August 10th, 2020 for Round 3 applicants and before December 31st, 2020 for Advance Access Applicants.

Tuck

We will maintain our Round 3 deadline of March 30, and we will also allow applications on a rolling basis thereafter in a one-time Round 4 for those who need additional time. You can submit a Round 4 application on a rolling basis from April 1 to June 1. We’ll return decisions on a rolling basis -- as soon as possible from May 11 to July 1. You will still need all required materials to apply, including test scores. International applicants, especially those currently residing outside the U.S., are strongly encouraged to apply as soon as possible to account for expected visa delays at international embassies. Applicant-initiated interviews have been suspended for the remainder of the application cycle, while committee-initiated interviews will be conducted virtually for this cycle.

Chicago Booth

The Round 3 deadline has been extended from April 2nd, 2020 to May 31st, 2020. Applications submitted after April 2nd will receive decisions on a rolling basis. Due to global GMAT/GRE test center closures, for applications submitted by the deadlines noted above, we will accept test scores through an extended deadline of July 1, 2020.

MIT Sloan

Round 3: The timeline for MBA Round 3 remains the same. All applications must be submitted by 3:00pm EST on April 9, 2020.

Early Admission: The timeline for MBA Early Admission applications has been extended, the new deadline is June 2, 2020. All applications must be submitted by 3:00pm EST on June 2, 2020. Applicants invited to interview will be notified in mid-June and all interviews will be conducted via Skype. Final decisions for MBA Early Admission will be released on July 15, 2020.

Standardized Tests: MBA Early Admissions applicants who are unable to take and/or secure official test scores due to limited access to test facilities should email us at earlymbaadmissions.mitsloan@mit.edu to request a temporary waiver to complete the exam. If admitted, your offer will be conditional upon a minimum score set forth in your offer letter.

Round 2/3 Testimonials, Part 2: Another Dual GSB-HBS Admit

HBS, GSB, Wharton & Booth Admit

“Ivy Admissions was my true partner in my MBA application journey from start to finish. Their insight into each school’s values, personality and tradition really made a difference when helping me craft and present my unique and personal narrative throughout all aspects of my application. Their coaching and guidance was always on point, particularly with their tailored and detail-oriented mock interviews. I wouldn’t have been able to accomplish what I have without their valuable insight and advice, born of their intimate understanding and relationships with their clients and their target schools. Thank you, Ivy Admissions!”

- Public Finance investment banking, public university, male, multiracial

Purchased: Complete School Package

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Wharton Admit

“The advice and support provide by Lisa and Ivy Admissions Group was a huge factor in my successful application to Wharton. They helped me craft my narrative in a compelling and coherent manner that ultimately proved effective.“

- Marine Special Operations Veteran

Purchased: Complete School Package

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Darden Admit

“Ivy Admissions Group was critical to my success in the business school application process. When I started, I had a jumbled story about why I needed an MBA and Ivy Admission Group worked with me to create a cohesive narrative about my work experience and how an MBA would help me advance in my career. Throughout the entire process, they were professional, responsive, and committed to my success. Without their guidance, I probably would have been a reapplicant.“

- Government Staffer

Purchased: Complete School Package

Takeaways from HBS's first year without Round 3, and what is to come

HBS’s admissions director Chad Losee announced HBS’s 2019-2020 application due dates, keeping the same essay prompt: “As we review your application, what more would you like us to know as we consider your candidacy for the Harvard Business School MBA Program?”. He also announced that HBS would continue to only have two admissions rounds, instead of the usual three - the last one it dropped this past year.

Many applicants have asked us what the loss of Round 3 would mean for their applications. Now that we have seen what Year 1 looked like, we feel that we are able to provide the following answers:

1. If you can, apply early!

If you are a traditional applicant (consulting, finance, fortune 500), the unspoken rule is that you need to apply in Round 1. That is when HBS is expecting you to apply and so that is when it is going to give away almost all of the admissions spots for your industry.

Even if you are not a traditional candidate, it is always a good idea to apply early. While HBS offers only need-based financial aid, other schools use merit-based aid to woo desirable candidates (check out our testimonials section to see just how much money some of these schools shell out). Almost all of that money is issued to those admitted in Round 1, so if you feel like saving upwards of $100,000 on your MBA, apply early so you can get it.

2. HBS waitlist decisions are made quickly, so engage early

Normally we see HBS accumulate candidates with great stats but only okay narratives on its waitlist, culling them in Round 3 and keeping a small, chosen few on through the “summer melt” phase where they admit students only to replace another admit who had to decline for one reason or another. This year, we saw HBS give definitive yes-or-no decisions earlier in the process, coinciding with the Round 2 notification date. Whereas in the past, a significant number of our clients would be kept on the waitlist until June, this year only a couple were. Everyone else was either admitted (most of them) or rejected.

What this means for you is that if you apply in Round 1 and are placed on the waitlist, you cannot afford to wait or be silent. You need to engage with the admissions committee right away as you have a much shorter timeline to plead your case. Put another way, as soon as you see that you’re on the waitlist, get in touch with us.

3. Other schools will wait-and-see (ride the waitlist!)

HBS enjoys something of a prime mover advantage. Because it and GSB are pretty much every applicant’s top 1 and 2 choice (not necessarily in that order), they can be reasonably sure that whoever they admit will accept their place and therefore the only students who drop from the class are the ones that are forced to for reasons beyond their control (military deployment, death in the family, illness, etc). That gives those two schools much more certainty in shaping their class and allows them to carry far fewer students on their waitlist.

In contrast, the rest of the M7 can never been too sure of their class composition because they are constantly losing admits to HBS and GSB when they get in off the waitlist or apply in subsequent rounds. This forces those other M7 schools to carry many more students on their waitlists, as well as admit many students from those waitlists.

The net effect is that if you are waitlisted at such a school, it is much more important for you to grit your teeth and ride the waitlist as there is a better chance of success than in years past.

4. Expect other schools to follow

HBS sets a lot of trends in MBA admissions, from making application dates earlier to streamlining the applications. While there are no immediate indications that other schools are going to follow HBS’s lead this year, it would be a safe assumption that some others will follow in the years to come. After all, Round 3 is traditionally a very small round at any school, comprising only around 10% of the admits in a given class.

If you are a few years away from applying, count on not having the Round 3 option available to you. Instead, reexamine your timeline and account for the fact that you will likely need to accelerate your applications to apply in Round 2 or delay them to apply in Round 1 of the following year.

The Pros and Cons of a Dual/Concurrent MBA Degree

An increasing number of business school students are now completing their MBAs as part of a dual degree program that will award them another graduate school degree. Popular dual degree options include JD/MBA, MD/MBA, Master of Public Health/MBA, Masters of Public Policy/MBA, and all sorts of other MA and MS programs from education to electrical engineering. But what are the pros and cons of these programs? 

Pros

Another brand name school on your resume

Attending the Tuck School of Business in Hanover, NH gives you all the access and prestige of Ivy League Dartmouth College. Attending as part of the dual degree program at Harvard Kennedy School, just a bus ride away on the Dartmouth Coach, would give you access to the resources and network of Harvard University as well. If you're only as good as the last school you attended, dual degree programs are excellent opportunities to pump your resume full of brand names and broaden the alumni networks to which you have access. One friend of mine completed the dual program at MIT Sloan and HKS and went to work in China, where his boss inevitably introduced him to clients as "our new hire from Harvard."

Diverse network in two career fields

Attending a world-class MBA program will give you a robust network of business leaders across traditional private sector industries such as consulting, finance, and technology. Adding in a dual degree program in public policy will also give you access to leaders across local, state, and federal government, as well as diplomats, non-profit leaders, and academics. As more of the world's challenges become interdisciplinary, individuals who can straddle the line between the public and private sectors will be the ones best able to capitalize on the opportunities. Or, if you plan on going into a technical field such as quant hedge funds, distressed equity, healthcare management, or hardware start-ups, having colleagues from programs in mathematics, law, medicine, and computer science will give you an incredible leg up against the traditional MBA competition.

Efficient use of time (completing two degrees in 1 fewer year)

Almost all dual degree programs allow you to complete two degrees one year faster together than you could if you did them separately. For example, a JD from Yale Law School takes three years while an MBA from Stanford GSB takes two. Separately, it would take five years to complete, but together you can complete them in four. If you are gung-ho on attending two different programs already, completing them in a dual degree program is a much more efficient use of your time. You'll pay one fewer year of tuition, and get back into the working world making a good salary one year faster.

Balanced curriculum

Business Schools teach students how to lead others and develop processes that will make their organizations more efficient. Government Schools teach students where to lead and inspire them to spend their lives tackling the most difficult challenges of our times. Other graduate programs confer specialized knowledge that will prove invaluable in gaining the credibility to lead experts.

More opportunities for honors and scholarships

An often overlooked benefit of graduate school is that it provides you with the opportunity to apply for scholarships. These are ostensibly for money, but often come with great prestige as well -- the kind that would look good on your resume. Many scholarships, however, do not accept applications from MBA students, so a dual degree gets you around that. Also, if you apply to schools that confer graduations honors for GPA, theses, or other work, going to two schools gives you two bites at the apple.

Flexibility on when to apply

Not everyone knows exactly what they want to do when they arrive at business school. As you settle in for your MBA at MIT Sloan, you might decide that you actually are drawn less to the engineering, technology, and logistics disciplines of MIT and more to the pubic sector work of government and non-profits. Fortunately the dual degree program at Harvard Kennedy School lets you apply to HKS in your first year at Sloan. And vice versa. Say that you are going through the core curriculum at HKS and decide that you're much better suited to consulting. You can apply to MIT, add in an MBA, and then be better positioned to recruit for McKinsey or BCG.

Cons

Tuition cost and opportunity cost of work

Getting another degree is an amazing opportunity, especially if you can save an year of time and tuition when doing it in a dual degree program. However, when compared to doing a solo-MBA, the added cost of another year of school (in the case of a three-year program) can be daunting. You'll have to pay ~$60k of tuition and fees and forego one year of salary at the starting MBA rate ~$125k. That's a large chunk of money to make up over the course of your working career. Of course, MD and JD students who have already prepared themselves for the long-slog of school see the marginal cost as relatively lower and the benefits of the additional MBA on their future careers is great.

Unintegrated program means extra work of building your own path

Unlike integrated "joint degree" programs where academic deans have established well defined pathways for pursuing two degrees, often bolstered by a steady pipeline of concurrent degree students who can help show you the way, unintegrated programs mean that you have to fend for yourself. If you're not the kind of go-getter who can coordinate with two different sets of graduation requirements and two different registrar offices, this option may be a little stressful.

Takes time away from your MBA cohort

Depending on when you sequence business school in your dual degree program, you may not graduate with your MBA class or spend much time with them after the core curriculum part of the degree is over. This can be a serious downside considering that the network is a key part of value proposition in MBA programs.

Shuttling between campuses

If you decide to do a concurrent degree at two different schools, it is likely that you will have to pack up your apartment and move at least twice in a three year period (notable exceptions include the dual degree program between MIT Sloan and Harvard Kennedy School). For ex-consultants, living out of a suitcase for three or more years might not sound so bad, but for the rest of us this can have a negative effect on quality of life. Even if you decide to pursue two degrees at the same university, graduate school campuses are rarely co-located and so even if you keep your apartment, you still will have to shuttle back and forth across as variable commute (notable exceptions include programs between Harvard Business School and Harvard Kennedy School, which are located just across a walking bridge from each other). Of course, if for some reason you would like to be in two different cities over the course of your study (e.g. to be close to two different sets of family, you didn't get into the desired program in your #1 city and are using a dual degree to form a back-up option), this can be a blessing. 

List of Best Joint/Dual/Concurrent Degree MBA Programs

While a 2-year MBA program is the desire and envy of many a business school applicant, an increasing number of MBA students are now completing their studies as part of a "joint" or "dual" degree program. As far as semantics go, "joint" programs integrate two different degrees into a unified course of study, often housed within the same university, while "dual" degrees often span two different universities and are pieced together by the student.

Kellogg at Northwestern is pretty restrictive, offering only a 2-year dual masters program in Design Innovation, and its 3-year JD/MBA with their Law School. HBS is more open but still pretty restrictive, offering only joint degrees and only with Harvard Kennedy School, Harvard Law School, Harvard Medical/Dental School, and (most recently)  Harvard School of Engineering & Applied Sciences. Stanford GSB is more open, offering concurrent degree options with Harvard Kennedy School, Harvard Medical School, Johns Hopkins School of Advanced International Studies (SAIS), Princeton Woodrow Wilson School of Public and International Affairs, Yale Law School, Yale Medical School, and any of Stanford's other graduate programs from Education to Electrical Engineering.

Top Concurrent MBA Degree Programs

• Booth at University of Chicago: UChicago MS Computer Science, JD, MD, MPP, MA Social Services Administration, MA International Relations;

• Columbia Business School: Columbia MS Urban Planning, DDS, MS Engineering and Applied Science, MA International and Public Affairs, MS Journalism, JD, MS Nursing, MD, MPH, MS in Social Work, MA in Private School Leadership

• Darden School at UVA: UVA MD, JD, MEd, MS Data Science, MPP, MPH, MA Government, MA East Asian Studies, ME Engineering, MS Nursing, PhD

• Duke Fuqua School of Business: Duke JD, MD, MEM, MPP

• Haas at University of California—Berkeley: Berkeley MPH, JD

• Harvard Business School: HKS, HLS, HMS, Harvard Dental, Harvard Engineering

• Kellogg at Northwestern University: Northwestern JD, MS in Design Innovation

• Michigan Ross School of Business:

• MIT Sloan School of Management: HKS, MIT Department of Urban Studies, LGO

• Stern School at NYU: NYU MD, MFA, JD, MPA, MS Biology, MS Mathematics Finance, DDS, HEC

• Stanford Graduate School of Business: Stanford JD, MPP, MD, MA Education, MS Computer Science, MS Electrical Engineering, MS Environment and Resources, HKS, SAIS, WWS, YLS, YMS

• Tuck School at Dartmouth: Dartmouth MD, MPH, or PhD, HKS, SAIS, Tufts Flecher, Vermont Law School

• Wharton School at The University of Pennsylvania: UPenn MA in International Studies (Lauder), JD, Education, Engineering, Environment, Design, Health Care Management, Medicine, Nursing, Social Work, Veterinary Medicine, SAIS, HKS

• Yale School of Management: Yale JD (3 or 4 year), MEM or MF Forestry & Environmental Studies, MA in Global Affairs, MD, MPH, MARCH Architecture, MFA, MA Divinity, PhD, MD