When PE/VC dominates the post-MBA job offers at Stanford, Harvard stands out for its 8% representation in Hedge Fund/Investment Management with Finance clearly the school’s strength while Consulting remaining at 2nd place and Technology attracting more offers with the increase in base salary.
In this in-depth analysis of the Harvard MBA Employment trends and Salary for the 2021 Graduating Class, we cover:
- Harvard MBA Salary by Industry (2021)
- Harvard MBA Salary by Function (2021)
- Harvard MBA Salary by Location (2021)
- Harvard MBA Top Employers (2021)
- Harvard MBA Entrepreneurship (2021)
Harvard MBA Salary by Industry (2021)
Finance dominated the post-MBA placements with 29% of all offers. Investment Management/Hedge Fund attracted 8% of MBAs and a record $215,000 total salary at Harvard Business School.
Consulting (23%) with a steady salary for three consecutive years at $165,000 has taken 2nd place, followed by Technology that attracted 19% of graduates. The median base salary has risen by $10,000 to $150,000 compared to last year in the Technology industry.
Private Equity and Venture capital features in the top 5 industries at Harvard Business School. However, the total salary is behind the offers at Stanford by $10,000.
| Harvard MBA Salary by Industry | Percent Hired | Median Base Salary | Median Sign-on Bonus | Total Salary |
|---|---|---|---|---|
| Investment Management / Hedge Fund | 8% | $165,000 | $50,000 | $215,000 |
| Consulting | 23% | $165,000 | $30,000 | $195,000 |
| Private Equity | 14% | $160,000 | $25,000 | $185,000 |
| Venture Capital | 7% | $160,000 | $22,500 | $182,500 |
| Technology | 19% | $150,000 | $25,500 | $175,500 |
Harvard MBA Salary by Function (2021)
The entry of Private Equity and Venture Capital has made finance top the list of chosen functions by Harvard MBAs. Finance functions were $5,000 behind consulting in terms of total salary due to the $15,000 gap between the base salaries, even though finance sign-on bonuses were higher at $40,000. General management and marketing functions were the third most popular, followed by Strategic Planning and Business Development.
In the Technology industry, Marketing was the popular choice, followed by General Management and Strategic Planning.
| Harvard MBA Salary by Function | Percent Hired | Median Base Salary | Median Sign-on Bonus | Total Salary |
|---|---|---|---|---|
| Consulting | 25% | $165,000 | $30,000 | $195,000 |
| Finance | 33% | $150,000 | $40,000 | $190,000 |
| Strategic Planning | 10% | $150,000 | $25,000 | $175,000 |
| General Management | 11% | $140,000 | $26,000 | $166,000 |
| Marketing | 11% | $140,000 | $25,000 | $165,000 |
| Business Development | 6% | $140,000 | $15,000 | $155,000 |
Harvard MBA Salary by Location (2021)
87% of the 2021 class of Harvard MBAs took offers in North America and the remaining 13% internationally.
Within North America, the Northeast absorbed 49% of Harvard MBAs - a 5-year high in representation.
31% of the roles were based in New York, and 11% in Boston.
22% of Harvard MBAs accepted offers on the West Coast in predominantly tech-based and consulting roles.
Within the consulting function, 44% of students chose to settle in the North East, 13% in the Southwest, and 12% on the West Coast. As expected with those who opted for technology-focused jobs, 46% opted for the West Coast due to its proximity to Silicon Valley, and 35% opted for offers in the North East.
Private equity and Venture Capital naturally were dominant in the North East due to proximity to Wall Street. However, 11% of private equity roles were accepted in Europe, after the North East, followed by 9% in the West Coast. Internationally, 4% of roles were accepted in the United Kingdom, followed by 2% in India.
Harvard MBA Top Employers (2021)
Harvard discloses all its employers for full-time roles and summer internships; however, they are not ranked. The variety of the 650+ organizations spans multiple industries including Finance, Technology, Consulting, Healthcare, and Energy.
American governmental organizations also feature in the list that includes names such as the Boston Planning and Development Agency and NYC Department of Health and Mental Hygiene.
Approximately 100 firms were affiliated to Finance, out of which 30 were represented by venture capital funds.
Harvard MBA - Entrepreneurship (2021)
Marketing (25%), Business Development (23%), and Strategic Planning (22%) were the most common roles adopted by 12% of the Harvard MBAs who joined a start-up. 49% chose employment in the Northeast, compared to the 26% on the West Coast.
The class of 2021 produced 64 entrepreneurs – 8% of the Harvard MBA class, 40% of whom met their co-founders at the school. 41% of the ventures were tech-focused start-ups and 16% in healthcare.
Social impact - a central theme at all top MBA programs, was also seen at Harvard Business School, with 22 start-ups focusing on this sector.
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• F1GMAT’s Harvard MBA Essay Guide
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