In my nearly decade-long tenure as an assistant director of admissions, the countdown to May 1 proved to be a turbulent rollercoaster ride for us all. Will we make our class? What happens if we don’t? Even when the numbers appeared promising on April 15, I learned not to celebrate prematurely, as each year brought uncertainty about whether our success would continue or if we would surpass our objectives.

I was one of the lucky ones — even despite the challenges posed by the global pandemic in 2020, my previous university hit numbers that were on par with institutional goals, securing not only our sanity but our jobs. But many of my peers in this industry saw their schools failing to achieve the desired enrollment yield. 

With year over year of decrease, I’ve witnessed friends and colleagues at universities who are forced to shut their doors, leaving both staff and students without the home they had envisioned for their four-year journey.

Hitting those enrollment numbers can literally make or break a college or university. But what exactly is enrollment yield, and why does it hold such paramount importance? 

Let’s take a closer look at enrollment yield, its significance in higher education, and insights into measuring and optimizing it so your institution can remain on top. 

What Is Enrollment Yield? 

Enrollment yield is the percentage of admitted students enrolling in a particular college or university. It serves as a vital metric for higher education institutions to gauge their effectiveness in attracting and converting prospective students. 

A high enrollment yield typically suggests that an institution has successfully enticed and convinced admitted students to choose them over other options, while a low yield may signal missed opportunities or room for improvement.

The Importance of Enrollment Yield 

Why does enrollment yield matter so much in higher education? Beyond the obvious financial implications, a strong yield directly impacts an institution's reputation, ranking, and overall desirability. Higher yield rates can enhance an institution's selectivity, bolster student diversity, and lead to a more engaged and vibrant campus community. 

For students, the college selection process is a complex and often emotional journey. They’re considering a multitude of factors — academic programs, campus culture, financial aid and merit packages, location and distance from home, reputation, and more. Schools must often navigate the high needs of their students while still trying to secure a high enrollment yield to meet institutional goals for budget and beyond. 

Measuring and optimizing enrollment yield requires a comprehensive approach. Admissions offices are charged with employing a variety of strategies to not only attract students, but the right students. And with that, a variety of tactics to get there, such as targeted marketing campaigns, personalized outreach, and campus visits. 

But there’s so much more to it than that. Admissions offices are running student interviews, accepted student events, navigating families' various financial needs while still heavily recruiting for the next year’s class and serving students who are just beginning the process. To say it's a busy time of year is an understatement.

Schools are also elbows deep into data analysis to identify trends, understand enrollment patterns, and refine their recruitment efforts accordingly. There often needs to be quick adjustments in the remaining weeks up to May 1 to navigate the shifting needs of students, families, and the institution.

A robust yield can attract top faculty and research opportunities, as well as strengthen the institution's alumni network and donor base, all factors that every school is looking for. Enrollment yield can also be a crucial indicator of an institution's health and long-term success, including the ability to keep the doors open when times get hard.

Monitoring enrollment yield over time allows colleges and universities to track their performance in attracting and enrolling students, identifying trends, and making data-driven decisions to optimize recruitment and admissions efforts. By analyzing enrollment yield, institutions can assess the effectiveness of their marketing campaigns, evaluate the impact of admissions policies, and refine their strategies to increase student enrollment and improve the overall quality of their student body.

What’s Looming: The Enrollment Cliff

If that's not enough to factor in, what’s known in the admissions world as “the enrollment cliff” is looming over many college enrollment offices. The enrollment cliff refers to a dramatic drop in available students of college age that is coming by 2025. That means there are fewer students for schools to vie the attention of, making it even more difficult to make those enrollment numbers.

Historically, there’s always been an 18 to 24-year gap between the life cycles of higher education and the economy, coinciding with the age range of students. For example, after the market crash in 2009, a surge in enrollment in higher education reached its peak. As the economy gradually improved, the number of individuals pursuing higher education decreased. 

Additionally, during the economic downturn, there was a decline in the birth rate, resulting in fewer children being born. Fast forward to the present, which marks 18 to 24 years later, and we observe a decrease in students within the traditional age range.

One unforeseen transformation that took place was the worldwide global pandemic in 2020. Its long-lasting consequences have significantly influenced numerous students and their families, prompting them to reassess the worth and return on investment of a college education.

Naturally, the economic downturn of 2009 coupled with a pandemic is made even more intricate by the interplay of various factors such as the expansion and requirements of the labor force, societal norms dictating who can and should pursue higher education, the affordability and accessibility of attending college, demographic changes influenced by ethnicity or social class, immigration patterns, and the agendas pursued by political parties.

Schools are looking towards a difficult upcoming few years, and maintaining their enrollment yield numbers will be more critical than ever.

How to Measure Enrollment Yield 

To effectively optimize enrollment yield, schools first need to measure and understand their current performance. The calculation is relatively straightforward: divide the number of enrolled students by the number of admitted students, and multiply the result by 100 to obtain the percentage. 

Enrolled Students / Admitted Students = Yield

For example, if a college admitted 1,000 students and 500 enrolled, the enrollment yield would be 50% (500 enrolled / 1,000 admitted x 100).

This measurement helps institutions assess the effectiveness of their recruitment efforts and identify areas for improvement. It's important to note that enrollment yield can vary across different programs, majors, or student demographics, making it essential to analyze and track yield rates at a granular level.

Increasing the number of students in the funnel will undoubtedly increase the number of students admitted. Other factors for admit rate come into play (a future blog post perhaps?), but overall, more students in the funnel equates to more students admitted, which hopefully means more students to enroll. These slight tweaks in percentage can really help schools reach those goals a little easier, especially with the challenges that today's admissions teams face. 

Our team would spend extra hours getting more students at the top of the funnel, knowing that by the time of applying, admitting, and enrolling, the outcome would be successful. Every year we’d aim to increase the funnel numbers by about 2.5-5% (which adds up quickly) to not only enroll more but also to lower our admit rate, increasing viability and desirability from a public opinion. 

Factors Around Enrollment Yield

It's important to note that enrollment yield can vary significantly depending on various factors such as programs, majors, or student demographics. Tracking yield rates at a granular level provides a more accurate assessment of the institution's recruitment effectiveness. 

Here are some relevant statistics and considerations when measuring enrollment yield:

• Overall Yield Rate: This refers to the percentage of admitted students who ultimately enroll in the institution across all programs and majors. For instance, if a university admits 2,000 students and 1,500 of them enroll, the overall yield rate would be 75% (1,500 enrolled / 2,000 admitted x 100).
• Program/Major-specific Yield Rates: Different academic programs or majors may have varying levels of demand and appeal, and with that also comes smaller departmental goals. By analyzing the enrollment yield for each program, institutions can identify areas of strength or areas that may require additional attention. For example, if a university's engineering program admitted 200 students but only 100 enrolled, the yield rate for that program would be 50% (100 enrolled / 200 admitted x 100).
• Demographic-specific Yield Rates: Analyzing yield rates for different student demographics, such as domestic and international students, underrepresented minorities, or first-generation college students, provides insights into the institution's ability to attract and retain diverse populations. Institutions can assess their recruitment efforts and tailor strategies to improve enrollment yield among specific demographics.
• Comparative Yield Rates: Benchmarking enrollment yield against peer institutions or national averages can provide valuable context. Understanding how an institution's yield rates compare to others in the same market or region helps identify areas for improvement and opportunities to enhance recruitment strategies.
• Yield Rate Trends: Tracking enrollment yield rates over time allows institutions to identify trends and patterns and measure the impact of recruitment initiatives, changes in admissions policies, or shifts in student preferences. For example, if an institution's yield rate has been steadily declining, it may indicate the need for adjustments in marketing, financial aid, or student support services.

Consider these statistics and measurements as a way to gain a comprehensive understanding of enrollment yield for your school. Having this knowledge is an empowering way to refine and define recruitment strategies, allocate resources effectively, and ultimately improve the ability to attract and enroll students who are the best fit for your institution.

Average School Rankings

Determining where your institution stands in terms of yield range can provide valuable insights into its desirability and competitiveness among prospective students. While school rankings may not be at the top list of your priority, they may be for many others. 

Rankings can be very important to high school college counselors, students and their families, even if the institution isn’t a right fit for that student. Falling into a category of well-ranked schools may often help the number of students who apply and ultimately enroll, so paying attention to your school’s standing is important.

Renowned and esteemed schools such as Harvard and Stanford consistently attract a significant number of admitted students who ultimately choose to enroll. According to US News rankings, these prestigious institutions have reported remarkably high yield rates, with figures reaching as high as 82%. 

This impressive yield rate is a testament to the exceptional academic programs, world-class faculty, robust campus resources, and extensive opportunities for personal and professional growth offered by these institutions.

In contrast to the top-tier schools, the average yield rate in the United States tends to hover around 33%. This average takes into account the vast array of colleges and universities across the country, encompassing a wide range of academic offerings and institutional profiles. Several factors influence this average, including the varying levels of institutional recognition, program specializations, geographic location, and financial considerations.

An Evolving Landscape

Enrollment yield is the lifeblood of successful student recruitment in higher education. By understanding its significance, measuring it accurately, and implementing targeted strategies, institutions can drive higher enrollment rates, elevate their reputation, and cultivate a thriving educational community. 

Institutions should also focus on enhancing the overall student experience to increase enrollment yield. This involves providing exceptional academic programs, robust extracurricular opportunities, and a supportive campus environment. 

By fostering a sense of belonging and providing resources for academic success, schools can demonstrate their commitment to student growth and well-being. Satisfied and engaged students are more likely to choose an institution and remain enrolled, positively impacting enrollment yield.

Remember, enrollment yield is not a standalone metric but an ongoing process that requires continuous evaluation, adaptation, and innovation. With a focused approach and a commitment to excellence, your institution can exceed expectations and become a magnet for top-notch students.

Embrace the power of enrollment yield optimization, and prepare to soar to new heights of success in the ever-evolving landscape of higher education.