Harvard Business School is an internationally renowned business school located at Harvard University in Boston, Massachusetts. Founded in 1908, it admits roughly 1,000 students to its MBA program per year and regularly ranks among the top business schools in the world.
In addition to its Master in Business Administration (MBA) program, the school also offers various other doctoral and executive education programs, some of which are provided in collaboration with partnering institutions such as Harvard Law School and the John F. Kennedy School of Government.
The school consistently ranks as one of the best business schools in the world. Various notable rankings such as U.S. News & World Report place Harvard Business School among the leading institutions globally. Its MBA program frequently claims one of the top spots internationally.
Key Insights
- World-Class Recognition: Harvard Business School is one of the most famous and highly-rated business schools in the world.
- Top-Tier MBA Program: It is principally known for its MBA program, which consistently ranks as one of the best.
- Diverse Educational Offerings: Beyond its MBA program, the school offers online certificates, an Executive MBA, and various doctoral degrees.
- Extensive Alumni Network: As of 2023, the school has a network of 89,000 living alumni, many occupying high-level positions in sectors such as finance, management consulting, and professional services.
- Selective Admissions: The school is extremely difficult to get into, and those who are accepted and graduate often secure prestigious, well-paying positions.
Grasping the Essence of Harvard Business School
Founded in 1908, Harvard Business School pioneered the world’s first MBA program. By 1922, the institution had introduced a doctoral program and launched the Harvard Business Review. Known globally for its exceptional quality of education, it is one of the top five graduate business programs universally.
Groundbreaking publications play a role in its broad brand recognition. The Harvard Business School Publishing Corporation (HBSPC) releases scholarly works from the school’s 270 full-time faculty members, including the influential Harvard Business Review.
Staying true to Ivy League standards, Harvard Business School is scandalously selective. It has an acceptance rate of approximately 10%. The stats drop even lower for the doctoral program, with just 4% of applicants being admitted between 2012 and 2018. For those admitted, the costs are significant. The MBA program for the 2023-2024 school year is priced at around $115,000 annually, covering tuition and associated living and health expenses.
The Spectrum of Academic Programs
Harvard Business School offers diverse pathways for ambitious scholars:
- MBA and Executive MBA: These are the flagship programs.
- Online Certificate Courses: Offered in business essentials, strategy, leadership and management, finance and accounting, entrepreneurship and innovation, and business in society.
- Joint Degrees and Doctoral Programs: Collaborative degrees with Harvard Kennedy School, the Graduate School of Arts and Sciences, and more.
- Ph.D. Concentrations: Spanning accounting and management, business economics, health policy (management), among others.
The Financials
Attaining an MBA from Harvard isn’t just academically rigorous; it’s financially taxing. The comprehensive cost for the MBA program during the 2023-2024 academic year is about $115,000 for a single student. This expenditure breaks down into tuition—approximately $75,000—and living plus administrative expenses.
Celebrated Alumni of Harvard Business School
Harvard Business School aims to educate leaders vested in making a significant impact on the world. Notable alumni who epitomize this mission include:
- Salman Khan: Founder of Khan Academy
- Meg Whitman: Former CEO of eBay
- James D. Wolfensohn: Former President of the World Bank
- Sheryl Sandberg: COO of Meta (Facebook)
- Michael Bloomberg: Founder and CEO of Bloomberg
- Mitt Romney: Former Bain & Company CEO and current senator
This rich lineage includes top professionals in numerous sectors ranging from finance to government, affirming the high level of support the school enjoys from its alumni.
Frequently Asked Questions
How Much Does a Harvard MBA Cost?
For the 2023-2024 academic year, a Harvard MBA costs approximately $115,000. Tuition stands at about $75,000, with the remaining expenses covering health insurance, books, supplies, and housing.
What GPA Is Required for Harvard’s MBA Program?
While Harvard doesn’t enforce a specific GPA requirement, the class of 2024 had an average GPA of 3.70.
Why Is Harvard Business School So Famous?
Harvard Business School boasts several compelling reasons for its fame:
- Exceptional education standards led by leading scholars.
- Extensive alumni network representing top positions across various industries.
- Continuous high-quality research publications.
- Highly selective admission process, ensuring only the finest candidates make the cut.
Final Thoughts
Harvard Business School ranks among the premier business schools worldwide, distinguished by its exceedingly selective admission process and a vast network of illustrious alumni. Prospective students should carefully evaluate the substantial cost against the long-term benefits before making a decision.
Embark on a journey of unparalleled education and be a part of Harvard Business School’s legacy of excellence!
Related Terms: Ivy League, MBA programs, Executive MBA, doctoral programs, business certificates.
References
- Harvard Business School. “History”.
- Financial Times. “Business School Rankings”.
- U.S. News & World Report. “2023-2024 Best Business Schools”.
- U.S. News & World Report. “2023-2024 Best Business Schools”.
- Harvard Business School. “Statistics”.
- Clear Admit. “Harvard Business School”.
- Harvard Business School. “Class Profile”.
- Harvard Business School. “Annual Cost of Attendance”.
- Harvard Business School. “Doctoral Programs”.
- Harvard Business School. “Joint Degree Programs”.
- Harvard Business School. “Online”.
- Harvard Business School. “Annual Cost of Attendance”.
- Business Because. “Harvard Business School Notable Alumni | 18 Famous MBAs”.
- Harvard Business School. “Our Mission”.
- Harvard Business School. “The Accidental Innovator”.
- Harvard Business School. “James D. Wolfensohn, MBA 1959”.
- Harvard Business School. “Meg Whitman, MBA 1979”.
- Harvard Business School. “Fast Facts”.
- Harvard Business School. “Employment Data”.
- Harvard Business School. “Admissions”.
