For the Class of 2016, the median Base Salary was $135,000 with a quarter of the class earning a median salary of $118,000 and the remaining 75% earning $147,000. Financial Services overtook Consulting by $5,000 to attract the best pay package of $150,000 median base salary. MBAs joining non-profit cited the lowest pay at a median base salary of $110,000.
When you compare the job functions – consulting leads at $140,000 while Venture Capital/Private Equity takes the second position with $131,875 median base salary.
The best data point to measure the impact of a top MBA program is the salary by location. For Harvard MBAs, International location fetched only $8000 less than the salary earned in the United States – a factor that makes HBS MBA the most sought after program. For the HBS Class of 2016, the majority (23%) found job opportunities in New York City, followed by California Bay Area (15%) and Boston (14%). Reference:...
Round 3 MBA Application for Harvard has been officially closed. March 22nd 2017: Results for Round 2 Interviews will be out on March 22nd 2017. For Round 3, the admission team encourages US candidates to apply. However, for international candidates, time for processing Visa will be low.
Hint: International applicants - skip Round 3 and target for the next admission season.
Feb 1st 2017: At noon Eastern, the 2nd release of Round 2 Interview Invitations will go out. Unlike the release on 25th Jan 2017, you can schedule the interviews immediately using the Online Scheduler.
I do what the Nurse did to me on Nov 7th, 2015. A viper gave me the lightest of fangs. In the Intensive Care Unit, just before the test dose for the anti-venom, she gave me all the worst case scenarios: anaphylactic shock, temporary kidney failure and dialysis, or permanent damage to the kidneys, but she concluded by saying that the probability of something worse happening is low. That one statement along with all the worst-case scenarios gave me a strange peace of mind. She knew that 'death' was the default thought in my mind.
Same is with many of you readers - getting rejected by Harvard is like death for you.
2016-17 Harvard MBA Essay: As we review your application, what more would you like us to know as we consider your candidacy for the Harvard Business School MBA program? There is no word limit for this question. We think you know what guidance we're going to give here. Don't overthink, overcraft and overwrite. Just answer the question in clear language that those of us who don't know your world can understand.
The HBS MBA Admissions team has gone back to an open-ended essay question, altering from last year’s specific context of a classroom environment where you have to introduce yourself to the case study group of 90 classmates. The essay is still an introduction about yourself. The goal of the essay is to find your authentic voice that summarizes the true ‘you,’ your values, what matters to you – beyond the causes and extra-curricular. The Admission team wants to know in your own words – “What drives you.”
Now let us think from the Admission team’s point of view. Two differentiating elements in the Harvard MBA curriculum are the Case Study Method and FIELD Global Immersion projects.
Q) Should I apply for the Full-time MBA program at Harvard Business School? I am a 45-year old UK-based doctor will 13+ years of experience. With an MBA, I would like to switch careers from medical practice to hospital administration with an eye on taking a C-Level position in the next couple of years. I am not interested in part-time or Online MBA programs.
Age is a big factor when it comes to Business Schools. The oldest candidates in Harvard, Stanford, Wharton and other top schools for Full-time MBA programs are in the 37-38 year age group. They are in the minority. Maybe 1 or 2. Getting a Harvard brand associated with your profile can create wonders, but applicants rarely make it to top MBA programs when they look at the admission process with “How to get into HBS.” It should be what you can offer and what you can learn from your peers. You can offer a lot given your 13+ years of experience, but your peers in a full-time class won’t be able to offer you much in terms of perspective.
Case study method depends on that daily interaction and peer-to-peer learning. Another bigger factor is that the Harvard MBA brand depends on how they can keep the Employers happy. The largest chunk of employment is in Consulting. The big 3Cs don’t like older candidates. I am talking about 35+ year olds. One reason is that when you are older, the motivation to put in 90+ hour work week...
Harvard Business School is one of the most sought after B-schools in the world. It is also one of the schools with the lowest acceptance rate. While IIMA in India boasts of an acceptance rate of just 0.1%, among US B-schools, HBS has the lowest acceptance rate after Stanford. The rate has historically hovered around the 10-12% mark. The class of 2017 has seen a slight dip in acceptance to 11%, the result of an increase in application volume.
Note: When we mention a year, we refer to the year of graduation – the class of that year. The year of admission would be 2 years prior.
Over the past 10 years, class sizes have fluctuated from a high of 889 in 2009 to a high of 941 in 2011. The class of 2017 saw 937 enrolled students. Although there are no targets as such, the growth of the class size is three per year.
When you introduce yourself, the class should feel confident about your ability as a decision maker. If you had a change in career path, explain your move with sound reasoning (supported by trends, opportunities and potential) – an indication that interacting with you would lead to a better exchange of ideas.
What value will you offer to the learning team? You have to encapsulate five things with the way you introduce yourself:
1) Break Stereotypes
Almost everyone starts with their name, hometown (and country), Undergraduate Degree, Pre-MBA Title, and Experience.
Although it is the right way to introduce yourself in front of the class, a prepared candidate will go the extra mile and connect with the audience by shattering the one-dimensional narratives. The class will have certain assumptions about you when you state your city, pre-MBA title, or experience.
How will you break the assumptions and demonstrate that you are a multidimensional personality with a worldview that matches with the class?
If I were an applicant, I would introduce myself with something unique about my hometown, and elements of my...
Before case study method, students have to brush up on case facts – competitors, pricing, limitations, and opportunities in the market, and threats from new entrants. The day before the case, smaller groups (5-6) from the learning team (group of 90 students) come together, reads the overview of the case, and engages in an open dialogue, discussing about the scenario from different perspectives. What these discussions does is that each student will get the chance to vocalize her opinion in front of the learning team, and get additional or contradicting information that validates or changes the stand completely. Even before the case study method, a debate has already started. With the details, students rationalize their decision-making capability. After the case has been looked at different angles, students form a firm opinion. They are ready to communicate the rationale in front of the class.
HBS Case Study - Preparation (Professors)
For professors, the focus is on the direction of the discussion. Even faculties debate about the case and prepare to orchestrate differing opinions on the case study. What will be the opening question, and who should be the...
For the Harvard MBA Class of 2018, the Admission team has announced that there will be only one mandatory essay question.
Here is the essay question:
Harvard MBA Essay Question (2016 Entering Class): It's the first day of class at HBS. You are in Aldrich Hall meeting your"section." This is the group of 90 classmates who will become yourclose companions in the first-year MBA classroom. Our signature case methodparticipant-based learning model ensures that you will get to know each othervery well. The bonds you collectively create throughout this shared experiencewill be lasting.
Watch the video below, before writing your essay – Inside HBS Case Study Method
1) There are no word limits for this essay question
With an acceptance rate that hovers on the 10-11% range, even a deserving candidate will find herself biting her nails, anticipating for the status update at 12:00 noon EST. When an applicant faces rejection, from Harvard Business School, the first reaction is to “Blame their IQ,” the second “Blame their luck,” and third “Blame their work schedule.” IQ has nothing to do with your rejection, especially for Harvard MBA that receives over 9000 applications for the Full-time MBA program.
The Story of the Harvard MBA Reject
Warren Buffet was only 19 when he was rejected from Harvard Business School. The reason as you might have guessed - he was too young for an MBA. Things have turned out well for the investment guru, whose company Berkshire Hathaway in 2014 reported a profit of $6.395 Billion, taking the price of the stock to over $200,800. Thousands of MBAs, many from Harvard Business School, work for Warren indirectly through his major stock holding companies: American Express, Coca-Cola, DirecTV, U.S. Bancorp, Moody’s Corporation, Wells Fargo, and IBM.
High IQ and Success: Myth
Let us for the sake of argument assume that GMAT Score and GPA...
As part of the HBS MBA Admission Interview process, you will have to fill up a post-interview reflection in the ‘Application Status’ page, within 24 hours of the interview. We hope you have crushed the interview (if you are planning to attend the interview, Download F1GMAT's MBA Admission Interview Guide - strategies on how to influence the interviewer and guide the questions to your advantage), but here are five points worth considering for your post-interview reflection:
1) Don’t Seek Assistance from Reviewers
The major difference in the post-interview reflection is the format. In essays, you write the first draft, modify it with a few anecdotes from your life, and then finally seek assistance from friends/family or expert reviewers to polish the essays further, and make it ready for publishing. If you are planning to write the essay without any outside help, Download F1GMAT's ...
First, take pride in your academic achievements: you are above the HBS Class median in GMAT by 10 points, in GPA by .12 points, and you are a top MBA Applicant if I assume that you are part of the big G or the big F when you say “Top IT Company.”
What seem a little troubling are the years of experience. If you would gain 3 years of experience when you join HBS MBA program, then you are among the 25% of the class with similar experience but if you gain 2-year of experience on the day of joining the program, your chances go down drastically. Only 7% of the class will have 2-years of experience on the joining date.
The only option for lesser-experienced MBA Applicant is through the deferral program, which is reserved for applicants fresh out of college, and in many cases, applicants following through the deferred admission are few as by the time they would have carved their own path, mostly in an Entrepreneurial start-up environment as a Founder or as a key team member.
Unfortunately, you fall within the gray area: 1-2 year experienced applicant. But don’t worry - you have already crossed the first two hurdles – GMAT and GPA. Use this year to gain diverse leadership experience – in a...
Harvard Full-time MBA is a 24-month program with the latest class enrolling 913 students in the Boston Campus. The full-time MBA is a residential program with a focus on hands-on experience through the Case Study Method and FIELD projects. By encouraging students to exercise their knowledge on real-world problems, Harvard Business Schools has created a learning environment that encourages Entrepreneurship and leadership. Even though the class size is huge compared to other top MBA programs, the school leadership has set up small learning groups of 80-90, to mimic the efficiency of lean teams.
Harvard MBA Curriculum
The Harvard MBA Curriculum is divided into Year One Spring & Fall, and Year Two Spring & Fall schedules. During Year One Fall, HBS MBA students follow a common curriculum - Finance 1, Financial Reporting and Control, Marketing, Leadership and Organizational Behavior (LEAD), Technology and Operations Management, FIELD Foundation in Leadership and Field 2: Global Intelligence.
All Harvard Business School applicants must submit answer to one essay question listed below.
Joint program applicants for the Harvard Medical School, Harvard School of Dental Medicine, Harvard Law School, and Harvard Kennedy School must provide an additional essay.
Essay (MBA applicants only):
All application questions below are required.
Q) You’re applying to Harvard Business School. We can see your resume, school transcripts, extra-curricular activities, awards, post-MBA career goals, test scores and what your recommenders have to say about you. What else would you like us to know as we consider your candidacy? (No Word Limit)