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Last Updated on August 16, 2023
Familiarizing yourself with the class profiles of the MBA programs you’re interested in is an important part of assessing your competitiveness for a program and, in particular, setting your GMAT score goal.
In this article, we’ll take a look at the University of Chicago Booth School of Business MBA class profile, including average GMAT scores, for the full-time class of 2023. We’ll also discuss how to use this information to set your target GMAT score.
Here are the topics we’ll cover:
- What Is the Chicago Booth Acceptance Rate?
- Is Chicago Booth Hard to Get Into?
- Chicago Booth MBA Class Profile
- Chicago Booth MBA GMAT Scores
- What GMAT Score Do You Need for Chicago Booth?
- In Conclusion
- Chicago Booth GMAT Fast Facts
- What’s Next?
To start, let’s take a look at some top-line facts about the competitiveness of Booth’s application process for its full-time MBA program.
What Is the Chicago Booth Acceptance Rate?
There is no doubt that the Chicago Booth school has a top MBA program with a highly competitive application process. An M7 school, Booth ranked #3 for full-time MBA programs on U.S. News’ 2022 list of the Best Business Schools.
According to data from recent years, the Chicago Booth School of Business acceptance rate has hovered in the roughly 23% to 25% range.
Booth has grown increasingly popular among MBA applicants in recent years. In 2020, Booth reported receiving more than 4,909 applications, nearly an 11% increase from the 2019 number. The following year, Booth again saw an increase, reporting 5,037 applications received for its full-time MBA program. In fact, the number of applicants has been increasing since at least 2016.
KEY FACT:
The number of Booth MBA applicants has been increasing since at least 2016.
So then, you’re probably wondering, is Chicago Booth hard to get into?
Is Chicago Booth Hard to Get Into?
The MBA admissions process is no joke when you’re dealing with a top 3 school such as Chicago Booth. And compared to, say, top 30 MBA programs, a program such as Booth’s is generally considered “hard to get into.”
However, the question of whether Booth is hard to get into does not have an across-the-board answer. In other words, the answer is somewhat different for each applicant. For an applicant with a stellar GPA, great test scores, and glowing recommendations, Booth may not be as “hard to get into” as it is for an applicant whose profile is lacking in those areas.
That reality is the reason why it is essential to evaluate the Chicago Booth MBA class profile when you’re seeking to determine whether you’re a competitive candidate — and, importantly, what GMAT score will make you more competitive.
With that point in mind, let’s review the class of 2023 profile, as well as some data from previous years.
Chicago Booth MBA Class Profile
Undoubtedly, the University of Chicago MBA class profile is impressive. That said, it is in line with other M7 schools. So, if you’re interested in applying to M7 programs in general, the Chicago Booth class profile will give you a pretty good idea of what to expect at the top MBA programs.
Class of 2023: Key Demographic Data
Let’s take a look at some key stats in the Booth full-time MBA class of 2023 profile.
Some other key stats for the class of 2023: about 6% of the class are U.S. veterans and about 5% identify as LGBTQ+. Incidentally, Booth reports that the number of U.S. veterans enrolled in its MBA program has increased by nearly 300% since 2006. (That increase would put the number, roughly, at a little under 1.5% of the class in 2006.)
Notably, some Chicago Booth class profile statistics at Booth have remained consistent for several years — a trend that is not unusual for MBA programs of Booth’s caliber. For example, the average age, GPA, and years of work experience of incoming students at Booth have been unchanged since at least the class of 2018. In general, when you’re dealing with top MBA programs, stats such as those tend not to change much from year to year.
KEY FACT:
Average age, GPA, and years of work experience of incoming students have remained unchanged at Booth from class years 2018 through 2023.
There have been some (mostly subtle) demographic shifts at Booth in recent years. Let’s take a look at how the make-up of Booth’s incoming classes has shifted since the class of 2018.
Demographic Changes: 2018-2023
The biggest change we can see in the make-up of the Booth incoming classes is that the percentage of students who identify as belonging to a U.S. minority group climbed from 29% in the class of 2018 to 44% in the class of 2023, a 15% increase.
Has Booth been putting a greater emphasis on diversity, or has the number of applicants from minority groups simply increased over the years? Hard to say. But we do know that the proportion of international students at Booth ticked up just 3% in that time. Furthermore, the proportion of women, although fluctuating slightly through the years, currently sits at the same 42% we saw in the class of 2018.
Now, let’s delve a little deeper into the academic and professional backgrounds of Booth students in the class of 2023.
Class of 2023: Academic Backgrounds
We know that the Booth class of 2023 has an impressive average GPA of 3.6, which is in line with GPA averages at other M7 schools. But what disciplines did Booth students earn their impressive GPAs in? Let’s have a look.
As we can see above, just about 3/4 of the class of 2023 majored in either business, engineering, or economics in college, so a solid majority of incoming students. The fourth most common major, liberal arts, trailed behind at 11.6% of the class.
Incidentally, the current top 3 majors have been the top 3 for Booth students since at least the class of 2018 (and likely longer). Business has been the most common major throughout that time.
KEY FACT:
About 3/4 of the Chicago Booth MBA class of 2023 majored in either business, engineering, or economics in college.
Class of 2023: Work Experience
As with the Booth average GPA, the average of 5 years of work experience among incoming students at Booth is very much in line with average work experience of students at other top MBA programs. Let’s take a look at which industries Booth students gained their professional experience in.
Consulting has been the top industry since the class of 2021. Prior to that, in the 2018 to 2020 classes, financial services was the top industry. Those are both typical most common industries at top MBA programs.
You’re probably starting to form an image of how you stack up next to the typical Chicago Booth MBA student. So, it’s time to take a look at Chicago Booth MBA GMAT scores.
Chicago Booth MBA GMAT Scores
Chicago Booth GMAT scores are — you guessed it — nothing to sneeze at. Incoming classes have pretty consistently had average GMAT scores around 730. You probably also won’t be surprised to learn that this average is on par with GMAT averages at other M7 schools.
Let’s take a look at the Chicago Booth MBA GMAT averages and GMAT ranges for the past 5 years.
Chicago Booth GMAT Scores: A 5-Year View
The one anomaly we see in the average GMAT score data above is the 724 average associated with the class of 2022. Although we can’t say for sure, that dip in the GMAT average may have been pandemic-related. After all, many of those students would have been putting their applications together in 2020, not long after the COVID-19 pandemic began. And as we can see, the GMAT average shot back up the next year, hitting a 5-year high of 732. So, I think we can look at the class of 2022 average as an outlier for Booth.
It’s also important to note that although the average Booth GMAT score has increased, the lowest GMAT score of admitted students has steadily decreased over the past 5 years, by 30 points since the class of 2019. So, clearly Booth doesn’t consider GMAT scores to be the end-all be-all when it comes to MBA admissions.
In fact, we see a 200-point GMAT range for the class of 2023 — that’s pretty significant. Again, a wide GMAT range such as Booth’s is not unusual for top MBA programs. The fact is, MBA admissions committees weigh a whole host of factors along with test scores when considering applicants — GPA, work experience, personal background, application essays, etc. So, what is considered a competitive GMAT score for one applicant may not look so great for another.
Seeing How You Stack Up
This brings us back to the importance of seeing how you stack up against the typical admitted student at Booth before you set your GMAT score goal. Your task is to weigh your strengths and weaknesses in light of Booth’s class profile, including average Booth GMAT scores. Remember though that the average GMAT scores are just a starting point when setting your score goal. Depending on other aspects of your applicant profile, you may need to adjust your target for test day.
So, we can’t look at the Booth MBA class profile and say, well, I guess 730 is the “magic number.” There is no magic number! The real question to ask is, what GMAT score do YOU need for Chicago Booth?
TTP PRO TIP:
Weigh all your strengths and weaknesses in light of the Booth class profile before setting a GMAT score goal.
What GMAT Score Do You Need for Chicago Booth?
Generally speaking, a good GMAT score for any MBA program will be equal to the average GMAT score of admitted students. However, as we’ve already discovered, no two applicants are exactly alike. So, the reality of MBA admissions is that the definition of “good” fluctuates from one applicant to the next.
That said, there are some simple rules of thumb that you can use to help determine where to set your sights when it comes to confidently submitting a GMAT score to Booth.
- If you’re in an overrepresented group, shoot for a GMAT score that beats the average Booth GMAT score. The more overrepresented you are, the higher you may want to aim.
- If you’re in an underrepresented group, shoot for a GMAT score that at least meets the average Booth GMAT score.
- If your GPA, work experience, or other profile aspects are notably weak, shoot for a GMAT score that approaches the top end of the Booth GMAT range.
To illustrate how we can use these guidelines to set GMAT score goals, let’s discuss three hypothetical scenarios.
Scenario #1: You’re in an Overrepresented Group
The cold hard fact about MBA admissions is that people in groups that are overrepresented in applicant pools typically need to earn higher GMAT scores than applicants who are not overrepresented. This reality is not unique to any one MBA program. The thing is, if you’re in an overrepresented group, you have to do something to make your application stand out among a sea of similar ones.
Now, you could accomplish that task in any number of ways: sparkling application essays, top-notch recommendations, knocking your MBA interview out of the park. But even with all that, given the stiff competition for a seat at Booth, you may need the “gold star” of a really impressive GMAT score to make your application rise to the top of the stack.
For example, say you’re a white male who is a U.S. citizen with an undergraduate degree in engineering. You have a GPA of 3.6 and 4 years of work experience in the technology sector. In this case, you would be pretty “typical” or “average” in terms of Booth MBA students. In fact, you could probably bet that a high proportion of applicants in your class year will have profiles that look quite similar to yours.
So, a 730 GMAT score — perfectly acceptable at Booth — likely won’t do much to make your application stand out, right? Thus, to be more competitive, a smart play would be to shoot for a GMAT score that beats the average. Perhaps, then, you’d shoot for something in the 750+ range.
How High Should I Go?
How high above the average you want to aim is going to depend on how the other aspects of your application look. If you’re overrepresented in several respects, as our imaginary applicant above is, you may consider aiming for a GMAT score that approaches the top of Booth GMAT range. In fact, another rule of thumb that you could use is that the more you’re overrepresented, the higher you should aim.
TTP PRO TIP:
The more overrepresented groups you fit into, the closer to the top end of the Booth GMAT range you may want to aim.
Scenario #2: You’re in an Underrepresented Group
Let’s say you’re a Hispanic woman who is a U.S. citizen with an undergraduate degree in liberal arts. You have a GPA of 3.8 and about 6 years of work experience in the consumer products industry. In that case, your applicant profile will be fairly uncommon at Booth. (Roughly 10% of the class of 2023 identify as Hispanic/Latinx and only 4% hail from the consumer products industry.) Furthermore, your GPA and years of work experience both beat the class averages.
Since your applicant profile stands out in several respects, all else equal, hitting the 730 average could make you quite competitive at Booth. In fact, you may even be comfortable applying with a GMAT score below the average.
One thing to note, however, is that top MBA programs typically prefer to see GMAT Quant scores of 47+. Furthermore, they like to see fairly “balanced” section scores. So, once again, you’ll need to weigh every aspect of your application to get a sense of how a certain GMAT score may be perceived.
Regardless, if you’re in an underrepresented group, a safe bet would be to aim for the Booth GMAT average. And of course, if you can aim higher, there is no reason not to!
TTP PRO TIP:
If you’re in an underrepresented group, all else equal, a GMAT score that hits the Booth average will likely keep you in the running.
Scenario #3: Your Have Weak Points in Your Profile
Does your GPA fall toward the lower end of the Booth MBA GPA range? Is your quant background lacking? Your work experience limited? Are your recommendations not quite what you hoped they would be?
The GMAT is a great way to help “balance the scales” when there are weak points in your profile. For example, regardless of whether you fit into overrepresented or underrepresented groups, if your GPA is notably lower than the Booth average, a GMAT score that approaches the top end of the Booth GMAT range could go a long way in reassuring admissions that you have what it takes to succeed at Booth.
How close to the top you should aim depends on two things:
- how far below the average your GPA is;
- what other strengths and weaknesses are in your profile.
TTP PRO TIP:
The GMAT is a great way to help “balance the scales” when there are weak points in your profile that you need to compensate for.
In Conclusion
When setting your GMAT score goal for Chicago Booth, remember to ask yourself the following questions:
- Am I in any overrepresented groups among Booth MBA students?
- Am I underrepresented among Booth MBA students?
- How does my GPA and work experience compare to the Booth averages?
- Do I have any weak points in my application that I need to make up for?
The good news is, if you’re interested in applying to other M7 schools as well, the score goal you set for Booth is likely to be applicable to those other programs.
Of course, you should always check each individual program website for class profile and GMAT score information. It’s never a good idea to blindly assume anything about the MBA application process. Do your research!
Here are some fast facts about Chicago Booth GMAT scores and policies to get you on your way.
Chicago Booth GMAT Fast Facts
Is Chicago Booth Waiving GMAT Requirements?
As of this writing, there is no indication that Chicago Booth is waiving its full-time MBA program testing requirements due to COVID-19 (or for any other reason).
Keep in mind that testing requirements for international students may be different from those for U.S. students. For U.S. students, submission of a GMAT or GRE score is currently required. Check the Booth Admissions Requirements page for the most up-to-date information.
Does Chicago Booth Have a Minimum GMAT Score Requirement?
No. Chicago Booth states that it does not require a certain minimum GMAT (or GRE) score for an MBA applicant to be considered for admission.
What Is the Average GMAT Score for Chicago Booth?
The average GMAT score in the class of 2023 was 732. The average GMAT score at Booth has generally stayed in the 730-732 range for the past several years.
Does Chicago Booth Accept Online GMAT Scores?
Booth states on its website, “While test centers remain closed, we will allow applicants to submit interim at-home or online proctored test scores.”
That said, as of this writing, pandemic closures of businesses, offices, etc., are coming to an end, and test centers in many parts of the world have reopened. Furthermore, it has broadly been the case that pandemic-related policies can change at a moment’s notice.
I recommend calling or emailing the Booth MBA admissions office to confirm that it still accepts online GMAT scores. Make that call before you schedule an online test.
What’s Next?
Regardless of your GMAT score goal, Target Test Prep has expert strategies and solutions for you.
This article gives you comprehensive strategies for scoring 700+ on the GMAT.
Aiming higher? Check out this guide to scoring a perfect 800 on the GMAT.
Looking to score big on GMAT Quant? These strategies for earning a high Quant score can help.
