MIT's Business School Admissions Had A Small maths 'Whoops'

MIT Sloan

Photo: Flickr/Vitor Pamplona

Imagine you’re a young eager student counting down to the start of business school. Even better, you’ve been accepted to one of the top school’s in the country, MIT’s, Sloane School of Management.It sounds great, right? Except this year, the Wall Street Journal reports, you could be on the verge of getting crushed.

Sloane’s admissions office oversubscribed the school’s number of accepted applicants (usually around 400), and now some will be asked to wait a year and attend starting in 2013.

To be fair this isn’t entire MIT’s fault. The trend in B-School attendance is that applicants are applying to fewer schools and targeting only ones they really want to go to. That means when they get accepted, they really want to go and they don’t turn offers down as much.

From the WSJ:

At Sloan, a higher-than-expected number of students stuck with their plans to attend, Rod Garcia, senior admissions director, said in an emailed statement.

Sloan received 4,133 applications for the M.B.A. program that started last month; of that number, more than 10% enrolled.

After realising they had a student surplus, school officials emailed the incoming class on Aug. 7, offering “guaranteed admission to the class of 2015 for the first 20 admitted students who request it.”

The students had until August 13 to respond, but not enough of them took the offer, says the WSJ.

Think about it: If you think you’ve been accepted (and you’re a type-A business dynamo) you’ve already rented an apartment, bought a Red-Sox hat, and found your favourite Irish pub.

You gotta feel for these people.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.