Harvard MBA Salary (Analysis) (2022)
Along with PE/VC dominance, the post-MBA job offers at Harvard are notable for their 8% representation in Hedge Fund/Investment Management, highlighting the school's strength in the finance industry. Consulting, which took second place, and Technology, which drew more offers due to an increase in base salary, are the school's other two strengths.
In our comprehensive analysis of Harvard MBA Employment Trends and Salary for the 2022 Graduating Class, we cover:
• Harvard MBA Salary by Industry (2022-23)
• Harvard MBA Salary by Function (2022-23)
• Harvard MBA Salary by Location (2022-23)
• Harvard MBA Top Employers (2022-23)
• Harvard MBA Entrepreneurship (2022-23)
Harvard MBA Salary by Industry (2022-23)
With 33% post-MBA placements (4% higher than that of the last year), Finance clearly shows its dominance in the Post MBA Industry at Harvard. Investment management/Hedge Fund, one of the strengths of the Harvard Post MBA industry, attracted the highest total salary in 2022, i.e., $225,000 ($175,000 base salary and $50,000 median sign-on bonus).
Consulting industry, in addition to observing the jump in the base salary, also experienced a 3% rise in placements. Consulting industry offers $175,000 as the base median salary, which is the same offered by Private Equity (15% placement).
Technology was at 3rd in placement with 19% - the same as last year, but the industry has revamped its median base salary with a $15,000 hike.
According to the Harvard Business School employment report, private equity and venture capital are among the top 5 industries.
| Harvard MBA Salary by Industry | Percent Hired | Median Base Salary | Median Sign-On Bonus | Total Salary |
|---|---|---|---|---|
| Consulting | 26% | $175,000 | $30,000 | $205,000 |
| Private Equity | 15% | $175,000 | $30,000 | $205,000 |
| Technology | 19% | $165,000 | $30,000 | $195,000 |
| Venture Capital | 7% | $178,000 | $15,000 | $193,000 |
| Investment Management/Hedge Fund | 8% | $175,000 | $50,000 | $225,000 |
Harvard MBA Salary by Function (2022-23)
The entry of Private Equity and Venture Capital has made finance top the list of preferred post-MBA functions. Finance and the consulting functions now have an equal median base salary which previously had a gap of $15,000. Finance sign-on bonuses are still higher than that offered in Consulting functions by $13,000. General management (10%) and marketing (12%) functions were the third most popular, followed by Strategic Planning (8%) and Business Development (7%).
Marketing was the popular choice in the Technology industry, followed by General Management and Strategic Planning. All these functions have slight fluctuations in the placement trends, but the remunerations have changed significantly, especially for Finance, which observed a $25,000 hike in the median base salary. Marketing as a function also observed a $20,000 hike in median base salary.
| Harvard MBA Salary by Function | Percent Hired | Median Base Salary | Median Sign-On Bonus | Total Salary |
|---|---|---|---|---|
| Consulting | 26% | $175,000 | $30,000 | $205,000 |
| Finance | 33% | $175,000 | $43,000 | $218,000 |
| General Management | 10% | $150,000 | $28,000 | $178,000 |
| Marketing | 12% | $160,000 | $30,000 | $190,000 |
| Strategic Planning | 8% | $160,000 | $20,000 | $180,000 |
| Business Development | 7% | $155,000 | $25,000 | $180,000 |
Harvard MBA Salary by Location (2022-23)
91% of the total HBS MBA grads of 2022 were placed in the United States, whereas 9% were placed Internationally. Students that preferred North America as their job location have risen by 4% compared to the 2021 employment trends.
After observing a consistent growth in employment placements, the Northeastern region observed a 2% decrease in placements in 2022 but maintained the highest salary of $175,000 – a trend that has continued for the past 5 years. The industries which dominated this region were Venture Capital and Private Equity, along with Consulting (26%).
The western region, with a 2% hike, observed 24% employment placement with a $175,000 median base salary. The dominating industry in this region was Technology and PE/VC.
Within the consulting function, 46% (2% increment) of students chose to settle in the North East, 11% (2% decline) in the Southwest, and 13% (1% increment) on the West Coast.
West Coast had benefited from its proximity to Silicon Valley when 42% of students in Technology opted West Coast, but the Northeast region was also opted by the same percentage of students. Till last year, West Coast was dominated by the Technology sector, which is now equal in the Northeast region as well – further confirming the dominance of Technology in all regions.
Private equity and Venture Capital naturally were dominant in the North East (60%) due to the proximity to Wall Street. However, 16% of private equity roles were accepted on West Coast, after Europe (8%).
Harvard MBA Top Employers (2022-23)
All of Harvard's employers are listed for full-time positions and summer internships but are not ranked. The diversity of the 700+ enterprises includes businesses in a number of sectors, including energy, consulting, healthcare, and finance.
The list also includes American government agencies like the Boston Planning and Development Agency and the NYC Department of Health and Mental Hygiene.
Finance had a network of about 100 companies, of which 30 were represented by venture capital firms.
Harvard MBA - Entrepreneurship (2022-23)
14% of Harvard MBA grads joined a startup, 2% higher than 2021 Placements, with a median base salary of $160,000. The most common roles that these MBA grads opted for were in Marketing (31%), Business Development (27%), Strategic Planning (16%), and General Management (11%).
Of all the students who joined start-ups, 41% chose the Northeast region for employment, whereas 35% chose Western Region for employment.
Of the total 106 entrepreneurs from HBS in 2022, close to double that of last year (64), 38% connected with a co-founder at HBS, and 67% have a co-founder.
39% of the start-ups were tech-focused, 20% focused on financial services, and 13% on health care. The start-ups focusing on Social Impact were 22 in the year 2021, which increased to 50 in 2022.
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