MBA from Harvard Business School: fees, requirements & more

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Your Harvard MBA checklist is primed with excellent GPA, high GMAT score, a pile of extracurriculars, and professional experience. Is that everything that can win you an admission to the coveted MBA from Harvard Business School? If not, then what is it that you need to make the Harvard cut? Let’s find out!

IN THIS BLOG:

1. MBA from Harvard Business School: Specifics
2. MBA from Harvard Business School: Requirements
3. MBA from Harvard Business School: Fees
4. Inside Harvard MBA admissions
5. The Averages of an Harvard MBA Class

Harvard Business School(HBS) consistently ranks as the #1 business school in the world. It’s not surprising that Harvard MBA is one of the most elite management programs in the world. Winning admission to Harvard Business School is thus an incredibly difficult but equally rewarding feat.

High admission standards, excellent teaching quality, highly-qualified faculty, and an incredible roster of alumni are a few of the reasons why an MBA from Harvard Business School is considered to be one of the most-rewarding management degrees. Add to it the fact that the Harvard MBA continues to get better owing to the colossal endowment ($3,800,000,000 and growing) that it regularly receives. HBS graduates are placed across top firms at high-ranking positions.

MBA from Harvard Business School: Specifics

The two-year, full-time Harvard MBA program is divided into four semesters- fall & spring for year one and year two. In the first two semesters, all Harvard MBA students must study the foundational courses included in the HBS Required Curriculum and also enrol in the FIELD Global Immersion course.

Besides this, HBS MBA students can explore other subjects through an Elective Curriculum that allows them to choose 5 subjects per semester out of 120 courses in various courses. Students can choose any combination of courses and also cross-register for courses in other selected graduate programs.

Majors

Harvard Business School does not offer distinctive majors for its MBA program, although during their second year, students can choose their electives from the following ten subject areas-

1. General Management
2. Finance
3. Marketing
4. Strategy
5. Accounting and Management
6. Organisational Behaviour
7. Entrepreneurial Management
8. Technology and Operations Management
9. Negotiation, Organizations and Markets
10. Business, Government and International Economy

MBA from Harvard Business School: Requirements

1. The applicant must have completed a US four-year undergraduate degree or its equivalent that includes a three-year international bachelor’s degree.
2. Official transcripts translated into the English language are required to showcase your academic achievements
3. English language proficiency test scores such as IELTS, TOEFL, and PTE are to be submitted at your Harvard MBA application time.
4. Standardised test scores such as the GMAT/ GRE are required for admission to the Harvard MBA program.
5. Two letters of recommendation (LOR) are required.
6. Essays are to be written based on the questions asked in the Harvard MBA application.
7. Applicants must also upload their CV or resume to reflect their professional accomplishments.

MBA from Harvard Business School: Fees

The annual cost of attending Harvard Business School assumes a nine-month academic year and is calculated based on a moderate student lifestyle. Attendance costs include direct expenses (e.g., tuition and fees) and indirect expenses (e.g., food and rent).

*based on average area market rate for 2 bedroom apartment without roommate

Student dorms at HBS have a 9-month lease, while off-campus housing requires you to sign up for a 12-month lease. You will have to bear the additional 3 months’ rent, indirect expenses, and utilities if you live off campus.

Students can bring down the cost of attending an MBA from Harvard Business School through scholarships, savings, and student loans. You may apply for a combination of need-based scholarships, complementary fellowships, third-party scholarships, and student loans.

Inside Harvard MBA admissions

Admission to MBA from Harvard Business School is highly-competitive. For the academic year 2021-22, Harvard Business School received 8264 applications. Of these, only 1015 applicants were admitted for the class of 2024. That’s an acceptance rate of just 12%.

A whopping 38% of these 1015 admits were international students coming from varied cultural and academic backgrounds.

HARVARD BUSINESS SCHOOL- MBA Class of 2024 Profile

The data above is from 2022 and represents the HBS MBA class of 2024.

The Averages of an Harvard MBA Class

The average GPA of the class of 2024 admits stood at 3.70 on a scale of 4.0 grading system. The admitted students had an average work experience of 5 years across various industries ranging from consulting and tech to media and nonprofits.

Average standardised scores

GMAT

GRE

Out of the total admitted applicants for the class of 2024, 74% submitted GMAT scores for their MBA from Harvard Business School. Although Harvard doesn’t mention a minimum required GMAT or GRE score or a preference for either of the exams, it is suggested that the GMAT score is better suited for your MBA application.

To improve your chances of getting accepted into an MBA from Harvard Business School, you should aim for at least 20 points above Harvard’s median GMAT score of 730. If you have taken the GMAT already but scored below 700, consider retaking the test.

With the highest GMAT scores in the industry, we, at Jamboree, know exactly what the top b-schools are looking for in your MBA application. To find out how you can improve your scores & strengthen your MBA application, book a 15-minute personalised counselling session here and get a personalised GMAT study plan and MBA admissions roadmap.

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