The Master of Business Administration (MBA) program at Stanford’s Graduate School of Business—consistently ranked among the top in the country—admitted a record 406 students to its Class of 2015.

Applications rose for the second year in a row, from 6,716 to 7,108, following the trend at other highly ranked business schools. The admission statistics announcement pointed to fluctuating demographics as proof of Stanford’s personal rather than categorical approach to admissions.

The Class of 2015 is comprised of students from 54 countries and over 180 educational institutions. Percentages of both women and U.S. minorities increased, as did the number of humanities and sciences majors compared to business and engineering.