Wow — Harvard Business School is now rejecting applicants because they come from financial backgrounds.When rejected applicants asked Harvard for reasons why they were declined this year, “they were told it was because their backgrounds were in finance or consulting, rather manufacturing or technology,” according to the WSJ.
MBA admissions consultants corroborated the story, saying “they’ve seen finance-industry clients rejected who would have been admitted in other years.”
Harvard Business School’s “incoming class will have a substantially smaller percentage of finance professionals than in previous years,” the WSJ reported.
Last year, for example, the MBA class was made up of about 32% that could be classified as Wall Streeters — banking, private equity, hedge funds and venture capitalists. In 2011, that number has dropped to 25%.
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