Recruiters across the globe seek graduates from these schools! They're none other than the students of the globally renowned ‘magnificent seven’ or M7 business schools. Boston Consulting Group, Bain and Co., McKinsey and Co., and many more hunt for their employees from M7 MBA schools.
Warren Buffet, Elon Musk, Steve Bannon, and others are just a few household names holding prestigious MBA degrees from M7 schools. Every entrepreneur and business enthusiast would want to join the esteemed network.
That being said, every year, lakhs of students dream of becoming a part of the full-time MBA programs of these elite schools. But only a few turn their dreams to reality.
This is because these colleges are strict with their acceptance rates. The average range of the acceptance rates swings between 6%-26%, which varies based on the number of incoming students globally for each course.
Keep reading to know about their tuition fees, programs, class profile, salary, and reputed alums of these excellent institutions!
Table of Contents
- What are M7 Business Schools & Their Significance?
- M7 Business Schools- Popular MBA Programs and their Cost Of Attendance
- M7 Business Schools- Ranking by Specialization
- M7 Business Schools- Class Profile
- M7 Business Schools- Median Base Salary
- M7 Business Schools- Alumni
- Conclusion
- Frequently Asked Questions
What are M7 Business Schools & Their Significance?
The M7 business schools are magic. Literally!
A long time ago, deans of top business schools convened a secret meeting and decided to combine their schools into a cluster of seven. That's how M7 MBA schools came into existence.
Quick note, these are self-proclaimed groups. They haven’t been made official.
If you’re still wondering ‘What are M7 business schools?’, here’s the list to make it easy for you:
- Stanford Business School
- Harvard Business School
- Wharton School of Business
- Columbia Business University
- MIT Sloan Business School
- North-western Kellogg School of Business
- Booth Business School
You'll be surprised to know that the M7 schools have remained the same since their origin. So, unlike other groups, they do not change ranking.
The close-knitted M7 group conducts multiple meetings throughout the year to enhance its curriculum, academic output, and other processes. The meets are in the form of a private session which includes members from marketing, admission departments, vice deans, directors, and others.
M7 Business Schools- Popular MBA Programs and their Cost Of Attendance
The elite M7 business schools are the dream of many. However, the cost of attendance is not easy on the pocket. On average, people spend USD 229000 to complete a 2-year Master of Business Administration program.
Here’s a brief overview of the fees structure of M7 MBA programs for your consideration:
Business Schools |
MBA Programs |
Cost of Attendance (First Year) |
Stanford Business School |
Stanford 2-year MBA Program |
USD 76950 |
Harvard Business School |
HBS MBA 2-year Program |
USD 73440 |
Wharton School of Business |
Wharton MBA Program |
USD 84874 |
Columbia Business University |
Columbia MBA Program |
USD 80472 |
MIT Sloan Business School |
MIT MBA Program |
USD 80400 |
North-western Kellogg School of Business |
Two-Year Full-Time MBA Program |
USD 78276 |
Booth Business School |
Chicago Booth MBA Program |
USD 77841 |
Source: University official website
Note: Some institutions levy pre-term fees in their program's tuition costs. Due to the same, the first-year tuition fee varies from the second year's costs.
M7 Business Schools- Ranking by Specialization
Granted, all the M7 MBA programs are magnificent, but some are more lucrative than others. If you are considering a master’s degree from M7 schools, getting admission to these programs must be your top priority.
According to QS MBA by Career Specialization Rankings of 2023, here're the most sought-after programs in M7 MBA schools and their ranking for your perusal:
Business Schools |
MBA Programs |
Specialization |
Ranking |
Stanford Business School |
Stanford 2-year MBA Program |
Marketing |
1 |
Harvard Business School |
HBS MBA 2-year Program |
Entrepreneurship, Finance, Information Management
|
2 |
Wharton School of Business |
Wharton MBA Program |
Consulting |
1 |
Columbia Business University |
Columbia MBA Program |
Marketing |
2 |
MIT Sloan Business School |
MIT MBA Program |
Consulting, |
2 |
North-western Kellogg School of Business |
Two-Year Full-Time MBA Program |
Marketing |
1 |
Booth Business School |
Chicago Booth MBA Program |
Finance |
2 |
M7 Business Schools- Class Profile
From an increase in women scholars to international applicants, the M7 MBA schools observe a change in their class profile every year. Some institutions saw a drastic rise in a segment, while others witnessed a drop due to pre-pandemic class strength. If you're interested in knowing which segment you’ll be a part of, here's a brief overview of the 2024 class profile of each of the magnificent seven.
Business Schools |
Women |
U.S. Students of Color |
International Applicants |
Stanford Business School |
44% |
51% |
37% |
Harvard Business School |
46% |
62% |
38% |
Wharton School of Business |
50% |
65% |
35% |
Columbia Business University |
44% |
42% |
51% |
MIT Sloan Business School |
46% |
66% |
40% |
North-western Kellogg School of Business |
48% |
38% |
37% |
Booth Business School |
40% |
49% |
37% |
M7 Business Schools- Median Base Salary
The average salary is the most exciting part of pursuing an MBA from M7 universities. Not only do they offer you the opportunities to become a part of the history makers, but they also ensure that you're paid enough.
In general, the students can gain an average salary of USD 150000. On top of this, many students have reported getting signing bonuses of USD 30000 and more.
For the students planning to receive their management degrees from M7 schools, here's a brief report on the average salary of each institute.
M7 Business Schools |
Average Base Salary (Annual) |
Stanford Business School |
USD 175000 |
Harvard Business School |
USD 175000 |
Wharton School of Business |
USD 175000 |
Columbia Business University |
USD 175000 |
MIT Sloan Business School |
USD 165000 |
North-western Kellogg School of Business |
USD 165000 |
Booth Business School |
USD 196600 |
M7 Business Schools- Alumni
M7 MBA schools have one of the largest alumni networks, with approximately 460000 individuals having their names registered in these prestigious universities. Some of the most popular names from these acclaimed institutions include the following:
- Vinod Khosla: Stanford Business School, Batch of 1980 (Tech Entrepreneur from Khosla Ventures)
- Ratan Tata: Harvard Business School, Batch of 1975 (CEO of Tata Group)
- Anant Goel: Wharton School of Business, Batch of 2018 (Co-founder of MilkBasket)
- Adi Godrej: MIT Sloan Business School, Batch of 1963 (Chairman of Godrej Group)
- Jordan Roth: Columbia Business University, Batch of 2009 (Co-owner of Jujamycn Theatres)
- Ted Philips: North-western Kellogg School of Business, Batch of 1989 (President and CEO of Chicago Bears)
- Joseph Neubauer: Booth Business School, Batch of 1965 (CEO and Chairman ARAMARK Corporation)
Conclusion
Whether it's academic excellence or a need for professional achievement, M7 business schools are the utopian dream of every MBA aspirant. To get admission to these institutions, it's important to know where you stand in terms of the cut-off and overall requirements.
These institutions are the hallmark of brilliance in management studies. Not only do they offer exceptional opportunities after graduation, but they also offer immense peer-learning possibilities.
Now that you know all about these prestigious and magnificent schools, it’s time to prepare all the necessary documents along with your academic certifications.
Frequently Asked Questions
What is the average employment percentage of graduates of Columbia Business University?
At graduation, an average of 80% of students from full-time programs are immediately hired or within three months after the course ends.
What opportunities can one seek after graduating from M7 business school in Finance?
MBA specialization from M7 schools can lead to an excellent career in:
- Investment banking
- Corporate Equity
- Private Equity
- Portfolio management
- Commercial banking
- Compliance control
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