Overall, four schools that rank among the top 10 Best Business Schools have acceptance rates above 20 percent. The Booth School of Business at the University of Chicago, tied with Harvard at No. 1 in the rankings, accepted nearly 24 percent of applicants for fall 2017. Of students admitted that same year, the University of Michigan—Ann Arbor's Ross School of Business – tied with Haas at No. 7 – accepted 25 percent; Dartmouth College's Tuck School of Business – ranked at No. 10 – admitted 23 percent; and Kellogg – ranked at No. 6 – offered acceptance letters to slightly more than 20 percent.

At the other end of the spectrum, a couple of schools accepted more than 90 percent of applicants. For fall 2017, Northern Arizona University's Franke College of Businessaccepted nearly 98 percent of applicants and the School of Business at La Salle Universityin Pennsylvania admitted around 94 percent.

Below are the 10 ranked business schools with the lowest acceptance rates for MBA students entering in fall 2017. Unranked schools, which did not meet certain criteria required by U.S. News to be numerically ranked, were not considered for this report.