What Is Harvard Business School?
Let me tell you directly: Harvard Business School, the graduate business school of Harvard University, has earned international acclaim. Founded in 1908, it admits around 1,000 students each year to its renowned MBA program, which stands out among the world's top business schools. As part of Harvard University, the school provides not just the MBA but also doctoral and executive education programs, some in partnership with institutions like Harvard Law School and the John F. Kennedy School of Government.
You should know that the school consistently ranks as one of the best. U.S. News & World Report places it fifth among business schools, and the Financial Times ranks its MBA program fourth globally.
Key Takeaways
Harvard Business School is best known for its MBA program, which regularly ranks among the elite. Beyond that, it offers online certificates, an Executive MBA, and doctoral programs. As of 2023, the school maintains a network of 89,000 living alumni, many holding management roles in finance, consulting, and professional services. Gaining admission is extremely challenging, and graduates often secure positions at prestigious firms with substantial salaries.
History and Recognition
Harvard Business School started in 1908 and introduced the world's first MBA program. By 1922, it had launched its doctoral program and the Harvard Business Review. It routinely appears in the top five international graduate business programs and is one of the most recognized business schools worldwide.
A key factor in its brand strength comes from publications by the Harvard Business School Publishing Corporation, which handles scholarly works from its approximately 270 full-time faculty members and publishes the well-known Harvard Business Review.
Like other Ivy League institutions, Harvard Business School is highly selective, with an acceptance rate of about 10% for its programs. The doctoral program is even tougher, with a 4% admission rate from 2012 to 2018.
If you're accepted, expect significant financial demands: the MBA program costs around $115,000 per year for 2023-2024, including $75,000 in tuition and additional expenses like health insurance, materials, housing, and living costs.
Academic Programs
Harvard Business School provides a range of programs, such as the MBA, Executive MBA, online certificate courses, joint MBA degrees, and doctoral programs. The Ph.D. options cover areas like accounting and management, business economics including finance, health policy management, management, marketing, organizational behavior, strategy, and technology and operations management.
Online certificates focus on business essentials, strategy, leadership and management, finance and accounting, entrepreneurship and innovation, and business in society. Joint MBA degrees partner with schools like the Harvard Kennedy School, Graduate School of Arts and Sciences, Law School, Medical School, School of Dental Medicine, and School of Engineering and Applied Sciences.
Cost
For the 2023-2024 academic year, the total cost for a single student's MBA program is $115,638. This covers tuition, student health fee, health insurance, course and program materials, and nine months of housing, food, transportation, and other expenses. Tuition itself is $74,910, and remember, the program spans two years.
Alumni of Harvard Business School
The school's mission is to educate leaders who make a difference, and its alumni reflect that. Notable figures include Salman Khan of Khan Academy, Meg Whitman formerly of eBay, James D. Wolfensohn of the World Bank, Henry Paulson of Goldman Sachs and the U.S. Treasury, Sheryl Sandberg of Meta, Michael Bloomberg, Mitt Romney, and former President George W. Bush. Alumni and supporters have consistently backed the school.
As of 2023, there are 89,000 living alumni across 173 countries, primarily in finance like venture capital and investment banking, consulting, marketing, and general management.
How Much Does a Harvard MBA Cost?
For 2023-2024, a Harvard MBA costs about $115,000 annually, with roughly $75,000 for tuition and the rest for health insurance, books, supplies, and housing.
What GPA Is Required for Harvard's MBA Program?
Harvard doesn't specify a required GPA, but the class of 2024 averaged 3.70.
Why Is Harvard Business School So Famous?
Harvard Business School earns its fame through exceptional education from top experts, a vast alumni network in prominent roles across industries, respected research publications, and its competitive admissions that select only those with strong academic and professional profiles.
The Bottom Line
Harvard Business School stands as one of the world's premier business schools, making it one of the toughest to enter. It features a large, influential alumni network and regularly produces respected business research. Attendance is costly, so you should carefully consider the expenses against the potential benefits before applying.
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