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According to the 2005 GMAC® Application Trends Survey, the median acceptance rate among full-time two-year MBA programs is 40% - 49%. Full-time accelerated one-year programs have an acceptance rate of 60% - 69% and part-time programs show a median acceptance rate of 70% - 79%.
If getting into a top-tier school is your priority, but the full-time program at a top school is a stretch, consider the top part-time or accelerated programs. It's easier to get accepted and your degree will carry the distinction of that school, regardless of whether you attended part-time or full-time.