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Wharton MBA 2024 - Application, deadlines, placements, ranking, costs

Updated: Mar 18

Wharton MBA is one of the top MBA programs in the world. We analyse the three main MBA programs offered by Wharton and their class profiles and application requirements. Looking at their class composition and the Wharton MBA value addition it is definitely a tough program to get into.


The Wharton School offers three MBA programs which we are detailing here:

1. Wharton MBA 2 year MBA program

2. Wharton Moelis Advance Access Program - Deferred MBA

3. Wharton Executive MBA Program


1. Wharton MBA 2024 - All You Need to Know


Wharton MBA Deadlines

Wharton MBA
Know the Wharton MBA

Wharton MBA Application Deadlines:

Round 1 – 6 September 2023

Round 2 – 4 January 2024

Round 3 – 2 April 2024


Wharton MBA Application requirements:


Your Guide to the Wharton MBA Application Process

Applying to the Wharton MBA program is a significant undertaking, but understanding the process can smooth your path. Here's a breakdown of everything you need to know:

MBA Application Checklist

  1. Background Information: Provide your basic details, including contact information, date of birth, and academic degrees earned.

  2. Education and Transcripts:

  • List all educational experiences, from high school to post-graduate work.

You can initially submit unofficial transcripts, using the provided template if needed. Official transcripts are required upon admission.


Professional Experience:

  • Detail your full-time work history, including military and entrepreneurial roles. Part-time and summer jobs since college can also be listed.

  • Use the optional essay to address any gaps in employment. Family Information: Briefly outline your family background. Application Fee: The non-refundable fee is $275, payable by credit card.


Essays: The Wharton MBA application requires several essays:

  • Essay 1: Explain how you'll leverage the Wharton MBA to achieve your career goals (500 words).

  • Essay 2: Describe your planned contributions to the Wharton community (400 words).

  • Reapplicant Essay: Outline how you've grown since your previous application (250 words).

  • Optional Essay: Share additional information or address any application weaknesses (500 words).


Transcripts:

  • Submit unofficial transcripts of all undergraduate and graduate work.

  • Alternatively, you can use the provided Online Transcript Template to self-report grades.


Letters of Recommendation:

  • Two recommendations are required, preferably from current or former supervisors.

  • Recommenders complete a form, highlighting your positive qualities and providing specific examples of your potential for success.


GMAT or GRE: Submit scores from either exam.

  • At-home tests with online proctoring are accepted.

  • Be mindful of the testing deadlines for your chosen application round.


English Language Test (if applicable):

  • Non-native English speakers with limited exposure to English must submit TOEFL, PTE, or IELTS scores.

  • This requirement may be waived if you earned a degree where English was the language of instruction.

  • Check testing deadlines for your application round.


Resume: Upload a one-page resume highlighting your skills, experience, leadership potential, and growth trajectory.


Wharton MBA Highlights:

The Wharton MBA: A Deep Dive into the Program


The Wharton School at the University of Pennsylvania offers one of the most prestigious MBA programs in the world.


The Wharton MBA Acceptance rate is: 14.11%

Enrolled class size: 874

Applications received by Wharton MBA: 6194


If you're considering this path, here's a breakdown of what your Wharton MBA experience would look like:


Duration and Structure

  • Length: The Wharton MBA takes 20 months to complete. This includes a recommended 3.5-month summer internship for hands-on business experience.

  • Schedule: The academic year is divided into two years with classes running Monday to Thursday (with potential Friday exams).


The Wharton MBA Core Curriculum


The Wharton MBA is built on a strong core curriculum that comprises 9.5 Credit Units (CU) and provides a solid foundation in essential business concepts. You'll explore areas like finance, marketing, and operations, preparing you for leadership roles in various industries.


Flexibility and Choice

  • Multiple Majors: Wharton shines in its customization options. You can choose from an impressive 21 majors, with about 40% of students opting for dual majors. This allows you to tailor your MBA to your specific career aspirations.

  • Global Exposure: Wharton provides exceptional opportunities for international experiences. Whether it's dual-degree programs, study abroad options, Global Modular Courses, or Global Immersion Programs, you can broaden your perspectives and gain valuable cross-cultural insights.


Beyond the Classroom

  • Housing and Meals: These elements are not included in tuition costs, giving you flexibility in living arrangements.

  • Career Development: Wharton's MBA Career Management provides crucial support. This includes on-campus recruiting for coveted summer internships and post-graduation job opportunities.

  • Advising and Support: Your journey is supported by a dedicated team of advisors. They offer guidance on academics, student life, and career development, keeping you on track for success.

  • Student Experience: Wharton fosters a vibrant community. You'll engage in clubs, conferences, sports, and a wide array of student-led initiatives. There's ample opportunity to build strong networks and have a well-rounded student life.


Additional Considerations

  • Company Sponsorship: While there are no formal sponsorship programs in place, some companies do sponsor MBA students.

  • Campus Locations: The primary campus is in Philadelphia. You also have a unique chance to apply for a semester in San Francisco.


Is the Wharton MBA Right For You?


The Wharton MBA is a rigorous and transformative experience designed for future business leaders. If you have strong academic credentials, a desire for customization in your business education, and a focus on career acceleration, Wharton could be the perfect place to achieve your goals.


Wharton MBA Costs


The Cost of a Wharton MBA: Breaking Down the Investment

The Wharton MBA at the University of Pennsylvania provides a world-class business education, but it comes with a significant price tag. Understanding the financial implications is crucial in deciding if the Wharton MBA is the right fit for your career goals. Let's break down the costs for the 2023-2024 academic years:


First-Year Budget for the Wharton MBA

  • Tuition and Fees: $87,370 (This includes a $2,000 pre-term fee)

  • Room and Board: $26,028

  • Books, Supplies, Misc.: $6,868

  • Health Insurance: $4,210

Total First-Year Cost: $124,476


Second-Year Budget

  • Tuition and Fees: $85,370

  • Room and Board: $26,028

  • Books, Supplies, Misc.: $6,868

  • Health Insurance: $4,210

Total Second-Year Cost: $122,476


Important Considerations

  • Cost of Living: Philadelphia is a major city. Your living expenses may vary depending on your lifestyle choices and where you choose to live.

  • Scholarships and Financial Aid: Wharton does offer scholarships, and you may qualify for external scholarships as well. Be sure to explore all financial aid options to potentially reduce your costs.

  • Potential Salary Increase: An MBA from Wharton can open doors to significantly higher-paying roles. Consider the potential return on investment (ROI) when weighing the costs.


Is a Wharton MBA Worth the Cost?

The value of a Wharton MBA goes beyond the immediate financial outlay. It's an investment in your career, future earnings, and access to an influential alumni network. If you're prepared for the high cost and are driven to maximize the opportunities provided, then the Wharton MBA could be a highly lucrative decision.


Tips for Financing Your Wharton MBA:

  • Start Planning Early: The earlier you begin saving and exploring financial aid options, the better prepared you'll be.

  • Consider Loans: Student loans can help finance your education. Research both federal and private loan options carefully.

  • Seek out Scholarships: Actively search and apply for as many relevant scholarships as possible.


Remember, investing in your education can have a tremendous impact on your career trajectory. Carefully consider the costs and potential benefits of the Wharton MBA before making your decision.


Wharton MBA Alumni Network: 100,000 alumni in 153 countries


Updates from Wharton School 2023:


  1. The 2022 Moskowitz Prize was awarded to Profs. Luke Taylor and Robert Stambaugh for their paper "Dissecting Green Returns," which is now featured on our website.

  2. Wharton partnership with Rebuilding Together Philadelphia has enabled more than 90 Wharton MBA and Stuart Weitzman School of Design students to revitalize 11 homes in West Philadelphia, supporting the efforts of this community-led organization.

  3. Prof. Zeke Emanuel, a renowned expert in Health Care Management at Wharton, has been awarded the prestigious 2023 Guggenheim Fellowship.

  4. Currently, Wharton faculty members Prof. Angela Duckworth and Prof. David Musto are teaching classes such as "Grit Lab 101" and "Essentials of Personal Finance."

Wharton MBA Class Profile for the Class of 2025 shows how competitive the program is:

  1. Applications received for Wharton MBA: 6194

  2. Enrolled in the Wharton MBA Class: 874

  3. Countries Represented in the Wharton MBA class: 70

  4. Women in the Wharton MBA class: 50%

  5. LGBTQ+ in the Wharton MBA class: 11%

  6. International students in the Wharton MBA class: 31%

  7. Average Work Experience represented in the Wharton MBA class: 5 Years

  8. Average GMAT - 728

  9. Average GRE - 324

  10. Average GPA - 3.4


FT MBA Ranking 2024 for Wharton MBA:

Wharton's Success in the FT MBA Ranking 2024

The Wharton MBA's reputation as a premier business program is reaffirmed by its 1st placement in the prestigious Financial Times MBA Ranking 2024! Let's break down what this top ranking reveals:

  • Overall Excellence: Wharton's number 1 overall ranking confirms its status as one of the world's leading MBA programs, excelling across diverse factors considered by the FT.

  • Outstanding Alumni Network: Ranking 2nd in alumni network rank reflects Wharton's far-reaching and influential global alumni base, which plays a crucial role in graduates' career development.

  • Exceptional Earning Potential: The weighted salary of $457,772 and 121% salary increase underscore Wharton's strong return on investment. MBA graduates can expect significant boosts in their compensation after completing the program.

  • Research Powerhouse: The FT research rank of 4 highlights the school's commitment to cutting-edge business research and its faculty's contributions to the field.

  • Global Reach: Excellent rankings in international course experience, international mobility, and percentage of international students (39%) confirm Wharton's focus on preparing students for careers on the global stage.

  • Rapid Career Placement: The impressive 92% employment rate within three months of graduation demonstrates the program's effectiveness in helping students land top jobs quickly.

Wharton MBA Class Profile for the Class of 2024:

  1. Applications received for Wharton MBA: 6319

  2. Enrolled in the Wharton MBA Class: 877

  3. Countries Represented in the Wharton MBA class: 77

  4. Women in the Wharton MBA class: 50%

  5. LGBTQ+ in the Wharton MBA class: 8%

  6. International students in the Wharton MBA class: 35%

  7. Average Work Experience represented in the Wharton MBA class: 5 Years



Previous work experience represented in the Wharton MBA Class of 2024 also shows how competitive the application process is:

  1. Consulting: 27%

  2. Technology: 12%

  3. Non profit/Govt.: 11%

  4. PE/VC: 9%

  5. Other: 9%

  6. Investment Banking: 9%

  7. Investment Management: 7%

  8. Financial Services: 5%

  9. Health Care: 5%

  10. Energy: 2%

  11. CPG: 2%

  12. Media/Entertainment: 2%

  13. Retail: 1%


Wharton MBA Average Test Scores:


  1. Average GMAT Score: 733

  2. Average GRE Quant.: 162

  3. Average GRE Verbal: 162

  4. Average GPA: 3.6

Undergraduate Majors represented in class at Wharton MBA:

  1. Humanities: 34%

  2. STEM: 34%

  3. Business: 32%


Class of 2023 Full-Time Wharton MBA Placements:


  1. Total Number of Students: 917

  2. Students Seeking Employment: 688


Wharton MBA Class of 2023 Placements

Industry

Percentage of Class

Median Salary

Financial Services

37.3%

175,000

Consulting

28.8%

190,000

Technology

13.5%

162,750

HealthCare

5.4%

157,500

Real Estate

2.2%

150,000

Fintech

2.2%

162,500


Wharton MBA Placements 2023 - By function


Function

Percentage of Class

Median Compensation $

Consulting/Strategy

36%

190,000

Private Equity/Venture Capital- Investor

18.1%

185,000

Investment Banking

12.6%

175,000

Product Management

8.7%

160,000

Investment Mgmt/Portfolio Mgmt

4.7%

175,000

General/Project Mgmt/Mgmt Development

4.1%

i60,000


Wharton MBA Class of 2022 Internships - Monthly Median Salary ($)

  1. All Industries: 9,280

  2. Consulting: 13,500

  3. Consumer Products: 7,400

  4. Energy: 6,533

  5. Financial Services: 10,746

  6. Hedge Funds/Other Investments: 10,205

  7. Insurance & Diversified Services: 11,327

  8. Investment Banking/Brokerage: 12,500

  9. Investment Management: 10,746

  10. Private Equity/Buyouts/Other: 10,000

  11. Venture Capital: 4,750

  12. FinTech: 6,960

  13. Health Care: 7,799

  14. Manufacturing: 7,000

  15. Media, Entertainment & Sports: 8,500

  16. Real Estate: 7,015

  17. Retail: 6,760

  18. Social Impact: 4,333

  19. Technology: 8,298


Class of 2021 Full-Time - Annual Median Salary ($)

  1. All Functions: 155,000

  2. Analytics/Data Science: 147,000

  3. Business Development: 130,000

  4. Consulting/Strategy: 165,000

  5. Corporate Finance (Analysis/Treasury): 140,000

  6. Entrepreneurial Management: 155,000

  7. General/Project Mgmt/Mgmt Development: 138,000

  8. Human Capital: 125,000

  9. Investment Banking: 150,000

  10. Investment Mgmt/Portfolio Mgmt: 150,000

  11. Legal Services: 190,000

  12. Operations/Production Mgmt/Supply Chain: 130,000

  13. Private Equity/Venture Capital- Investor: 170,000

  14. Product/Brand Marketing: 128,000

  15. Product Management: 144,000

  16. Real Estate: 140,000

  17. Restructuring: 160,000


Class of 2022 Internships - Monthly Median Salary ($)

  1. All Functions: 9,280

  2. Analytics/Data Science: 9,533

  3. Business Development: 6,967

  4. Consulting/Strategy: 13,000

  5. Corporate Finance (Analysis/Treasury): 8,016

  6. Entrepreneurial Management: 5,633

  7. General/Project Mgmt/Mgmt Development: 8,216

  8. Investment Banking: 12,500

  9. Investment Mgmt/Portfolio Mgmt: 10,416

  10. Operations/Production Mgmt/Supply Chain: 7,250

  11. Private Equity/Venture Capital- Investor: 8,000

  12. Product/Brand Marketing: 9,028

  13. Product Management: 7,616

  14. Real Estate: 7,015

  15. Research: 7,090


Class of 2021 Wharton MBA Class Statistics:

  1. Total Enrolled: 856

  2. Male: 458

  3. Female: 398

  4. U.S. Students of Color: 305

  5. International: 257

  6. Countries Represented: 63

  7. Median Work Experience: 5 Years


Class of 2022 Wharton MBA Class Statistics:

  1. Total Enrolled: 916

  2. Male: 540

  3. Female: 376

  4. U.S. Students of Color: 378

  5. International: 170

  6. Countries Represented: 63

  7. Median Work Experience: 5 Years


Employment by Location for the Wharton MBA Class Of 2021 Full-Time program:

United States: 92.40%

  1. Northeast: 47.50%

  2. West: 25.60%

  3. Mid Atlantic :9.90%

  4. South: 3.50%

  5. Southwest: 3.40%

  6. Midwest: 2.50%

International: 7.60%

  1. Asia: 4.40%

  2. Europe: 1.40%

  3. Canada: 1.20%

  4. Other: 0.60%


Median Salary ($) by Location

  1. United States: $157,000

  2. International: $118,100

Thus, there is no doubt that it is a tough program to get into and the applicants must prepare well at all levels to get there.

 

2. Wharton Moelis Advance Access Program - Deferred MBA


The Wharton Moelis Advance Access Program for final year or pre-final year applicants.


The Wharton Moelis Advance Access Program Application Deadlines: April 26, 2023

Interview Deadlines: May 25, 2023

Interviews to be conducted between 2 June 2023 -to 14 June 2023


The Wharton Moelis Advance Access Program application requirements:

  1. Application fee of $100

  2. GMAT or GRE exam - any from test center or online/at-home

  3. Updated resume

  4. Two letters of reference

  5. Two essays – same as 2 year MBA applicants

  6. Virtual Team-Based Discussion and personal interview


WHARTON MOELIS FELLOWS COHORT OF 2022 PROFILE

  1. Enrolled – 110

  2. Countries represented – 57

  3. International students 36%

  4. Female – 46%

 

3. Wharton Executive MBA

Wharton Global MBA Program for Executives application deadlines:


  1. Round 1 October 12, 2022

  2. Round 2: January 18, 2023

Wharton Executive MBA Program Features:


  1. Synchronous and virtual classes every other week.

  2. Global cohort members will come together in-person on five or more occasions throughout their 22-month program.

  3. GMAT code: G56-97-36 for Philadelphia, G56-97-14 for San Francisco, and G56-97-44 for Global.

  4. GRE code: 6802.

  5. EA code : G56-97-36 for Philadelphia, G56-97-14 for San Francisco, and G56-97-44 for Global.

  6. TOEFL code : 2926.

  7. Application fee of $200

  8. The Wharton Executive MBA includes 5 residential weeks in the program

FT RANKING of Wharton Executive MBA Program:

  1. Rank: 22

  2. School Name:University of Pennsylvania: Wharton

  3. International faculty (%): 38

  4. Work experience rank: 86

  5. Women on board (%): 20

  6. Salary today (US$): 276,408

  7. International course experience rank: 56

  8. Overall satisfaction *:9.55

  9. Aims achieved (%):79

  10. Career progress rank:40

  11. Salary increase (%):70

  12. Three-year average rank:28

  13. Rank in 2021:38

  14. Female faculty (%):29

  15. International students (%):32


Eligibility and application requirement for Wharton Executive MBA Program:

  1. Minimum ten (10) years of full time work experience

  2. Online application

  3. 2 letters of recommendation

  4. 2 essays

  5. GMAT or GRE or EA. To submit the EA score work experience must be more than 8 years


Wharton Executive MBA Class Profile:

The first class of the Global cohort option will begin in 2023.

  1. 234 total class size (current members of Philadelphia and San Francisco’s cohorts)

  2. 156 median ea score

  3. 710 median gmat score

  4. 37 average age

  5. 12 average years work experience

  6. Women 33%

  7. Countries Represented 36

  8. Under 30 5%

  9. Over 40 16%

  10. Middle 80% EA Range 150-163

  11. Middle 80% GMAT Range 680-750

  12. Students Holding Advanced Degrees 51%

  13. Median Salary and Bonus at Start of Program $220,500


Some Frequently Asked Questions


The FAQ page on the Wharton MBA website provides answers to a variety of questions regarding the application process, program details, and other requirements. By going through the answers provided one the institute website it is possible to get a better idea of the application process. Some of the most common questions that applicants often have include the following:


1. Is the IELTS score accepted by Wharton MBA?

No, the institute does not accept IELTS scores as proof for English proficiency. Only PTE or TOEFL scores are accepted.


2. Is work experience mandatory for enrolling in the Wharton MBA program?

No, the work experience is not mandatory but proof of prior work experience in any field of the industry creates a positive impact on the admissions committee.


3. Are decisions delivered by e-mail for the Wharton MBA?

The Wharton MBA application system sends an e-mail to the applicant whenever a status change occurs in the application. However, the applicant needs to login to their application dashboard to check the application status.


4. When is a Wharton MBA interview scheduled?

The admissions committee selects candidates for interviews based on their application. The interviews are arranged by invitation only and are mandatory for seeking admission into the program.


5. What are Wharton MBA application fee waivers?

The applicant needs to deposit an application fee of $275 for the completion of their application. However, in extreme economic or financial issues, the applicant can consult for an application fee waiver. The waiver is entirely need-based.


Get assistance from MBA admission consultants for your application process.


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