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M7 MBA – What are the Elite M7 Business Schools?

The term “M7 business schools” is used to describe the seven most elite business schools in the world. The M in M7 stands for ‘magnificent’, or ‘magic’, depending on whom you ask. Years ago, the deans of the seven most influential private business schools got together to create an informal network known as M7. The network convenes twice every year to share information and chat about some of the most pressing issues in graduate business education.

M7 Business Schools

The M7 Business Schools regularly rank in the top-10 of major business school rankings and offer a plethora of opportunities to their graduates in terms of having an impact and changing industries as well as geographies.

In this article, we compare and contrast the M7 business schools by employment reports, rankings and alumni base as well as answer a few important questions from an applicant’s perspective.

Here is a brief outline of this article:

List of M7 business schools

The M7 Business Schools include:

  1. Harvard Business School
  2. Stanford Graduate School of Business
  3. Wharton School at the University of Pennsylvania
  4. Columbia Business School
  5. Northwestern University’s Kellogg School of Management
  6. University of Chicago’s Booth School of Business
  7. MIT Sloan School of Management

As mentioned earlier, at their biannual private sessions for which these M7 business schools rotate hosting duties, they trade gossip, best practices and whatever topical issues end up on the agenda.

For e.g. in the aftermath of the 2008 financial crisis, where some of the biggest employers of MBA graduates (i.e. Wall Street) went under, the deans discussed how the schools were responding to the collapsing job market for MBA graduates.

M7 Business Schools: Rankings

Here is how the M7 business schools fare in the latest Business School rankings published by leading business publications:

Rankings Harvard Wharton Columbia Booth Kellogg Stanford MIT
U.S. News 3T (1T) 1 (3) 6 (9) 3T (1T) 6 (6) 2 (4) 3T (5)
Forbes  4 (3) 5 (1) 7 (6) 1 (7) 3 (4) 2 (2) 7 (8)
Businessweek 3 (3) 6 (2) 9 (7) 4 (5) 10 (8) 1 (1) 7 (4)
Financial Times 2 (5) 4 (3) 9 (7) 7 (6) 14 (12) 1 (1) 8 (9)
Economist 2 (3) 4 (4) 12 (9) 1 (1) 3 (2) 7 (5) 16 (14)

Note: (T) denotes a tie.

M7 Business Schools_ Rankings by specialisation

 

 

But as an MBA applicant what is the significance of the M7? Here is what Prashant from Admit Square Consulting has to say.

What is the significance of the M7 MBA?

A natural question to ask here is around the significance of M7 especially since a variety of publications come up with business school rankings each year. The answer is simple and something that humans always crave – consistency. Rankings vary every year across different publications. On the other hand, M7s remain constant. Schools are neither added to nor removed from this list.

Getting an MBA degree is a long-term decision and choosing an M7 school will essentially guarantee that you are making the right choice. The fact that these schools recognize each other as part of a super-elite group and work together to enhance the quality of business education overall, is also a validation of the quality of education these institutions provide.

Does an “M7 or Nothing” application strategy make sense?M7 Business Schools_ Application strategy

Though M7s are definitely A-listers and you cannot go wrong with choosing them, there are a bunch of schools outside of this definition that are prestigious and possibly even a better fit for you. NYU Stern, UVA Darden, UCLA Anderson, Michigan Ross, etc. are all excellent schools that frequently break into Top 10 of all major rankings.

There are also several schools outside the US that provide top-class business education and enjoy a high global reputation – INSEAD, LBS, Saïd (University of Oxford), Judge (University of Cambridge), Rotman (University of Toronto) and IMD Switzerland, for example.

Your choice of an MBA program, therefore, cannot be driven solely by a certain ranking or classification. An MBA is a means to achieve one’s career goals and not an end in itself. It is important to introspect what you want from your MBA and research well to shortlist programs that will help you achieve your specific goals – during and after the MBA!

Aspiring an M7 MBA Program? A 740+ GMAT score will help you in standing out and becoming a more competitive applicant. We can help you by giving you access to quality online content to prepare.  We are the most reviewed GMAT prep company on gmatclub with more than 1870+ reviews. Why don’t you take a free trial and judge for yourself? 

Write to us at acethegmat@e-gmat.com in case of any GMAT or MBA admissions related queries

M7 Business School Class Profile and other Statistics

The following are the statistics related to the latest class profiles of the MBA programs at the M7 Business Schools with previous numbers in parantheses:

Stats Harvard Wharton Columbia Chicago (Booth) Northwestern (Kellogg) Stanford GSB MIT (Sloan)
Class Size  938 (930) 856 (862) 754 (756) 593 (591) 474 (478) 417 (419) 416 (409)
Acceptance Rate 12% (11%) 22% (20.6%) 19.1% (17%) 22.5% (22.9%) 26.0% (20.7%) 6.7% (6.3%) 11.0% (12.1%)
Yield 89.0% (92.0%) 66.9% (67.1%) 73.5% (73.9%) 60.1% (52%) 48.0% (51.6%) 84.2% (85.3%) 69.5% (60.6%)
Applications 9,228 (9,886) 5,905 (6,245) 5,876 (6,029) 4,433 (4,289) 3,779 (4,471) 7,342 (7,797) 5,200 (5,560)
Average GMAT 730 (730)** 732 (732) 727 (732) 730 (731) 730 (732) 734 (732) 727 (728)
Average GPA 3.70 (3.71) 3.60 (3.60) 3.60 (3.60) 3.60 (3.60) 3.60 (3.60) 3.70 (3.72) 3.60 (3.48)
Women 43% (41%) 47% (43%) 38% (39%) 40% (42%) 43% (46%) 47% (41%) 41% (42%)
International 33% (37%) 30% (34%) 47% (33%) 31% (30%) 32% (34%) 43% (42%) 42% (38%)
Minority 27% (26%) 36% (33%) 33% (42%) 27% (31%) 26% (27%) 27% (27%) 18% (22%)
Average Age 27 (27) NA (NA) 28 (28) 28 (28) 27 (28) NA (NA) NA (28)
Two-Year Tuition $146,880 ($146,880) $162,756 ($157,896) $154,752 ($148,400) $144,000 ($144,000) $146,808 ($143,088) $146,124 ($146,124) $154,336 ($148,400)
2019 Median Salary (2018) $148,750 ($140K) $150,000 ($135K) $150,000 ($130K) $145,000 ($130K) $140,000 ($130K) $150,000 ($142K) $140,000 ($135K)
2019 Median Bonus (2018) $30,000 ($25K) $30,000 ($25K) $30,000 ($30K) $30,000 ($25K) $30,000 ($25K) $25,000 ($25K) $30,000 ($30K)
2019 Offers At 3 Months (2018) 94% (95%) 98.5% (98.4%) 93.9% (94.1%) 96.3% (96.3%) 98% (95%) 94% (95%) 95.7% (97.0%)
Total Scholarship Amount US $ 34 Million US $ 16.9 Million US $ 10,1 Million US $ 16.3 Million US $ 15.7 Million US $ 11.8 Million US $ 8.1 Million
Average Scholarship awarded US $ 40,000 US $ 32,000 US $ 20,000 US $ 30,000 US $ 35,000 US $ 22,800 US $ 28,220
% of MBAs receiving a scholarship 50% 33% 46% 60% 52% 35% 35%

M7 MBA Program Rankings by Discipline or Specialty

The following are the rankings of the M7 MBA programs by different disciplines and specialties:

Discipline/Speciality Harvard Wharton Columbia Chicago Kellogg Stanford MIT
Accounting Rank 24T (21T) 3 (2) 16 (16T) 6 (7T) 23 (18) 8 (6) 27T (27)
Entrepreneurship 4 (4) 6 (6) 24T (NR) 21 (19T) NR (17) 2 (2) 3 (3)
Finance  7 (7) 1 (1) 4 (4) 2 (2) 12 (11) 6 (5) 5 (6)
Management  1 (1) 6T (5) 10 (10) 14T (14) 3 (4) 2 (2) 14T (14)
Marketing  6T (4T) 2T (2) 5 (7) 9T (8) 1 (1) 6T (6) NR (NR)
Nonprofit  2 (2T) NR (NR) 8 (9) NR (NR) 9T (6T) 4 (2T) NR (NR)
International Business 2 (2) 3T (3) 7 (7T) 19T (15) 19T (16) NR (9) NR (17T)
Production & Operations  11 (9) 5T (4) 9T (13) NR (NR) 8 (8) 3T (5) 1 (1)
Information Systems  NR (NR) 6 (6) NR (NR) NR (NR) NR (NR) 5 (7T) 1 (1)
Supply Chain Logistics NR (21T) 18 (12) NR (NR) NR (NR) 20T (12) 9T (8) 2 (2)

Employment statistics at M7 Business Schools

M7 Business Schools_ Employment Statistics and Salaries

The following are the latest 2019 employment statistics & salaries at the M7 business schools.

Statistics Harvard Wharton Columbia Booth Kellogg Stanford MIT
2019 Median Salary (2018) $148,750 ($140K) $150,000 ($135K) $150,000 ($130K) $145,000 ($130K) $140,000 ($130K) $150,000 ($142K) $140,000 ($135K)
2019 Median Bonus (2018) $30,000 ($25K) $30,000 ($25K) $30,000 ($30K) $30,000 ($25K) $30,000 ($25K) $25,000 ($25K) $30,000 ($30K)
2019 Median Total Comp (2018) $172,090 ($160,268) $171,000 ($154,300) $177,970 ($155,248) $163,900 ($145,750) $165,080 ($145,000) $187,760 ($180,950) $173,670 ($161,355)
2019 Offers At 3 Months (2018) 94% (95%) 98.5% (98.4%) 93.9% (94.1%) 96.3% (96.3%) 98% (95%) 94% (95%) 95.7% (97.0%)
2019 Job Acceptances at 3 Months 88% (89%) 93.5% (94.6) 90.4% (90.1%) 95.1% (95.5%) 95% (92%) 88% (88%) 93.2% (93.6%)

Industry Choices of M7 Business School Graduates in 2019

Class of 2019 Harvard Wharton Columbia Booth Kellogg Stanford MIT
Consulting 21% (25%) 25.1% (25%) 32.6% (34%) 33.7% (31%) 31% (30%) 18% (18%) 30.7% (32%)
Finance 29% (29%) 35.8% (37%) 34.3% (32%) 31.3% (32%) 19% (14%) 33% (31%) 19.7% (16%)
Technology 20% (19%) 15.9% (15%) 13.8% (13%) 20.7% (20%) 25% (28%) 24% (33%) 28.7% (27%)
Consumer Products/Retail 6% (3%) 6.4% (6%) 2.9% (NA) 5.7% (4%) 11% (7%) 3% (2%) 3% (3%)
Health 7% (6%) 4.3% (6%) 3.9% (2%) 1% (2%) 7% (7%) 6% (5%) 5.6% (2%)
Manufacturing 7% (5%) 2.4% (2%) 6.8% (7%) <1% (1%) 2% (4%) NA (NA) 3.6% (3%)
Energy 2% (<1%) NA (<1%) NA (NA) <1% (1.5%) 1% (1%) 1% (1%) 1.3% (4%)
Media/Entertainment 3% (4%) <1% (1.5%) 2.4% (1%) 1% (2%) <1% (1%) 3% (3%) 1.3% (1%)
Nonprofit 5% (2%) <1% (<1%) 1.4% (2%) 1% (NA) 2% (1%) 1% (4%) 1.3% (1%)
Real Estate 2% (3%) 3.2% (4%) 4.1% (4%) 2.7% (2%) 2% (3%) 2% (1%) 1.7% (NA)
Entrepreneurship 17% (9%) 4.1% (4%) 4.5% (5%) 3.3% (3%) 1.8% (2%) 15% (16%) 6.7% (10%)

Alumni statistics at the M7 business schools – M7 MBAM7 Business Schools - Alumni Base

The M7 business schools have large, active and engaged alumni networks around the world. These alumni help open doors to opportunities in various countries and industries.

The following are the statistics related to the M7 business school alumni networks:

Alumni Harvard Wharton Columbia Chicago Kellogg Stanford MIT
Total Living Alumni  46,846 99,000 47,000 53,000 60,000 30,746 126,129
Active Alumni Clubs  102 79 83 90 72 66 124
Countries With Alumni Clubs 44 38 40 42 34 44 70
Fortune 500 CEOs (as of 2018) 25 8 6 7 6 11 7
Estimated Annual Rate Of Giving (2018) 25% 20% 17% 19% 20% 40% 20%

Aspiring an M7 MBA Program? A 740+ GMAT score will help you in standing out and becoming a more competitive applicant. We can help you by giving you access to quality online content to prepare.  We are the most reviewed GMAT prep company on gmatclub with more than 1870+ reviews. Why don’t you take a free trial and judge for yourself? 

Write to us at acethegmat@e-gmat.com in case of any GMAT or MBA admissions related queries

Note: All data is taken from the latest business school class profiles & their employment reports.

We have written detailed articles on each M7 Business School which includes the latest data about their class profiles, employment reports, and salaries:

FAQs

What are M7 Business Schools?

M7 Business Schools are an elite and informal group of top US business schools. These include Harvard, Stanford, Wharton, Booth, Kellogg, MIT Sloan, and Columbia.

Is Harvard or Stanford better for an MBA?

Choosing between Harvard and Stanford for an MBA depends on your career goal. There are many factors on which you can compare both. Here are the parameters to analyze while comparing Stanford and Harvard
Location and Class Profile
Placement and Internship Opportunities
Ranking Lists
MBA Program Focus
MBA Program and Curriculum
Teaching Methods, Experiential Learning, and Global Opportunities
Admission Process and Cost of Attendance
Alumni Network
Scholarship Programs
Facilities

Where is Columbia Business School located?

Columbia Business School is located at 3022 Broadway (at 116th Street), New York

How to get into M7 business schools?

To get into M7 business schools you have to work on your application holistically. Best business schools want a candidate who will ‘get through’ their rigorous MBA program successfully. Learn what it takes to get into top business schools.

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