Harvard MBA Review: Fees, Career, Eligibility & More

The Harvard MBA is a popular and highly sought-after graduate program that offers an unparalleled educational experience. As one of the world’s top business schools, Harvard Business School (HBS) is renowned for its innovative curriculum, diverse community, and exceptional career outcomes.

Its high admissions standards, excellent job placement into top firms in private equity, venture capital, management consulting, technology, healthcare, and other sectors, as well as its incredible roster of alumni in powerful positions, contribute to HBS’s reputation. The school’s outstanding teaching quality further cements its status as the leading business school globally.

Class Profile: Harvard MBA

Harvard Business School (HBS) is renowned for its diverse and exceptional student body. The class profile for the Harvard MBA is a testament to this diversity. For the Class of 2025, a total of 8,149 people applied, and 11.5% of those applicants were accepted, resulting in 938 students enrolled.The class profile is marked by a wide range of backgrounds, nationalities, and industries, including finance, consulting, technology, manufacturing, non-profit, and the arts.

Fees & Financing

The fees and financing options for an MBA program at Harvard Business School can be significant. Here are some key points:

Tuition Fees

The Harvard Business School MBA fees in the 2023-2024 academic year is $74,410 per year, totaling $148,820 for the full two-year program.

Additional Expenses

In addition to tuition, Harvard MBA students can expect the following expenses:’

Mandatory Fees

• Harvard University Health Services (HUHS) Student Health Fee: $1,408 per year
• Student Health Insurance Plan (SHIP): $4,202 per year

Other Expenses

• Course and Program Material Fee: $2,600 per year
• Room and Utilities: $14,850 per year
• Living Costs: $16,540 per year

The total estimated cost of attendance for the Harvard MBA program is $115,638 per year, or $231,276 for the full two-year program.

Harvard MBA: Employment Upon Graduation

Manager interviewing a female applicant in his office

The statistics for Harvard MBA graduates salaries showcase a strong job market and a diverse range of industries and functions.

According to the latest employment data from Harvard Business School:

• 86% of the Class of 2023 seeking employment received job offers within 90 days of graduation .
• This represents a decline from the previous year, where 95% of the Class of 2022 received job offers .
• Of those who received offers, 80% accepted, down from 90% the previous year .

Industry Choices

The top industries for Harvard MBA graduates seeking employment were:

• Consulting (25%)
• Private Equity (17%)
• Technology (16%)
• Investment Management/Hedge Funds (6%)
• Manufacturing (6%)

Compensation

• The median base salary for the Class of 2023 was $175,000 .
• The median signing bonus was $30,000, with 57% of graduates receiving a signing bonus .
• The median performance bonus was $40,000, with 70% of graduates receiving a performance bonus .

Regional Placement

• 89% of graduates stayed in the United States for employment .
• The Northeast (54%) and West (16%) regions were the most popular destinations .
• 11% of graduates accepted international positions, primarily in Europe (5%) and Asia (3%) .

Eligibility Criteria

To be eligible for the Harvard MBA program, applicants typically need to meet the following criteria:

• Academic Background: A bachelor’s degree from an accredited institution.
• Work Experience: A minimum of 2-3 years of professional experience.
• Test Scores: GMAT or GRE scores, with a median score of 740 for GMAT and 326 for GRE.
• GPA: A strong academic record, with an average GPA of 3.73 for the Class of 2025.

What Makes the Harvard MBA Unique?

The Harvard MBA program stands out for several key reasons:

1. The Case Method:

At the heart of the HBS experience is the case method, a dynamic, student-led approach to learning. Rather than traditional lectures, students delve into real-world business cases, stepping into the shoes of decision-makers and engaging in lively discussions to analyse challenges and propose solutions.

2. Diverse and Collaborative Community:

HBS attracts a diverse student body from around the globe, with 39% international students and 45% women in the class of 2025. This diversity fosters rich discussions and a collaborative learning environment where students learn as much from their peers as they do from the faculty.

3. Emphasis on Leadership:

HBS is committed to educating leaders who make a difference in the world. Through the curriculum, extracurricular activities, and experiential learning opportunities, students develop the skills and mindset to become impactful leaders in their chosen fields.

4. Powerful Alumni Network:

With over 85,000 alumni in 173 countries, the HBS alumni network is a truly global resource, providing access to insights, expertise, and support throughout one’s career.

Conclusion

The Harvard MBA program offers a transformative experience for aspiring business leaders. With its diverse class profile, innovative curriculum, and extensive resources, HBS is uniquely positioned to prepare students for success in the global business landscape. While the cost of attendance is high, the school’s commitment to financial aid and its reputation for producing successful graduates make it a worthwhile investment for those seeking a world-class business education.