Since its establishment in 1908, Harvard Business School has secured itself a place among the very best business schools in the nation. Each year, HBS is the top choice of many of the most qualified MBA applicants, and is rarely turned down by those fortunate enough to gain admission to the school. Such lucky applicants can look forward to participating in exciting case-focused classes led by some of the foremost minds of business academia, as well as tremendous employment prospects across the nation and throughout the world. For highly qualified MBA applicants, applying to HBS should be a given and attending the school if admitted should, in most cases, be a decision solely between Stanford and Harvard Business School.



Admissions and Tuition:

Like most academic institutions of its stature, Harvard Business School is an exceptionally exclusive club. Only about 15% of up to 9,000 HBS applicants are admitted each year, placing the school among the most selective business schools in the nation. The 90% yield rate of HBS is perhaps even more impressive, as it is considerably higher than the yield rates of other top MBA programs like those of Stanford and Wharton, likely signifying that HBS offers the most sought-after MBA degree in the nation. Without a doubt, this makes applying to Harvard an intimidating experience for many applicants, and the “opaque and mysterious” nature of this process, as described by one applicant, certainly does not help matters. That said, by taking advantage of all the aid and advice offered on the HBS website, applicants can learn how to best prepare their applications and can thereby gain peace of mind and confidence throughout the process.

Predictably, becoming a part of the highly exclusive Harvard MBA club comes at no small price, as yearly tuition at HBS is appropriately among the highest in the nation, at $43,800 for the 2008-2009 academic year. According to data compiled in part by Business Week, the total program cost, including foregone salary, of an HBS MBA is over $300,000 to the average student. Of course, this is a relatively small price to pay for an MBA from Harvard, demonstrated by the fact that students of the school experience a 29% increase in average salary when they leave the school, again according to data compiled in part by Business Week.

Academics and Curriculum:

Given that the case method approach to business education was pioneered by HBS faculty, it should come as no surprise that current professors at HBS rely heavily on the method in their classrooms. This style of teaching shifts the role of the professor from lecturer to discussion leader, and allows students to learn by discussing and exploring various topics, rather than by passively listening. All but the shyest students seem to prefer the case method approach, as it gives them more opportunity to interact with their brilliant professors as well as their fellow classmates. During their first year at HBS, students enroll in required courses in 90-student sections, and will likely experience their most demanding and rigorous academic year. During their second and final year at HBS, students can choose from among nearly 100 electives, and are usually able to secure a seat in most of their desired classes at some point during the year. Students at HBS are not said to be overly competitive, although it remains to be seen how the school’s change in policy, which will allow the Class of 2008 and subsequent classes to publish GPAs on their resumes, will affect levels of competitiveness at the school. That said, based on the fact that HBS students arguably have the best and most reliable employment prospects in the country, one can predict that levels of competition will remain reasonable, since there will likely always be plenty of jobs to go around for HBS students.

Quality of Life:

The residential campus of Harvard Business School, on which the majority of the school’s students reside, is a somewhat rare advantage for HBS students. This setup allows students to form close relationships with fellow classmates and helps to create a general atmosphere of friendliness among the relatively large HBS student body. During cold Massachusetts winters, students who reside on campus are spared lengthy commutes and can avoid the elements altogether by walking to class through underground tunnels that connect campus buildings. Among these buildings, the HBS library is probably the most remarkable, and is regarded by many as the finest business library in the world. When not spending time in this impressive library and the rest of the magnificent HBS campus, students can enjoy the many restaurants and bars throughout Cambridge, and can access Boston easily through public transportation. Of course, the other shoe drops in the form of the high cost of living of the Boston area, but again, this is a relatively minor concern for students lucky enough to gain admission to HBS.

Employment Prospects:

In almost all fields, employment prospects for Harvard Business School students are unmatched. No MBA degree is more highly regarded, and any resume on which the HBS name is placed instantly rises to the top of the pile. Students of HBS have endless opportunities throughout business school to meet the school’s alumni, many of whom provide students with referrals that help them land dream jobs in every corner of the world. There really is no way to overstate the tremendous value of HBS’s alumni network as a resource to students, and one could argue that access to this network may in itself justify the high cost of attending HBS. Most students have multiple options for both summer employment and post-graduation employment, as more than 400 employers come to the HBS campus annually to conduct interviews for summer jobs, while twice that number make the trip to conduct interviews for post-graduation positions. Further, the career services office of the school is dedicated and greatly resourceful, even though many students find jobs early in their search and do not need to rely greatly on this office. In all, about 94% of HBS students have landed jobs by graduation in a typical year.

In Sum:

Simply put, Harvard Business School is generally considered the premier business school in the world. Highly qualified applicants should not pass up the opportunity to be a part of this illustrious institution, as no three words attach more prestige to an MBA degree than “Harvard Business School”.

Contact Information:

Dillon House
Soldiers Field
Boston, MA 02163
617.495.6128
admissions@hbs.edu
http://www.hbs.edu/mba/admissions

Quick Reference:

2009 U.S. News Ranking: 1st (tie with Stanford)
Average GMAT score: 713
Average undergraduate GPA: 3.63
Application fee: $235
Entering class size: 900
Yearly Tuition: $43,800 (2008-2009)
Percent of graduates employed 3 months after graduation: 94%
Average starting salary and bonus: $135,630