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.
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
- M7 MBA Program Rankings
- What is the significance of the M7?
- Does an “M7 or Nothing” application strategy make sense?
- M7 Business School Class Profile and other Statistics
- M7 MBA Program Rankings by Discipline or Specialty
- Employment Statistics at M7 Business Schools
- Alumni Statistics at M7 Business Schools
List of M7 business schools
The M7 Business Schools include:
- Harvard Business School
- Stanford Graduate School of Business
- Wharton School at the University of Pennsylvania
- Columbia Business School
- Northwestern University’s Kellogg School of Management
- University of Chicago’s Booth School of Business
- 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.
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?
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!
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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 parentheses:
| 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
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 MBA
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 1950+ 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:
- Harvard Business School – Class Profile, Employment Reports, and Salaries
- Stanford GSB – Class Profile, Employment Reports, and Salaries
- Wharton School of Business – Class Profile, Employment Reports, and Salaries
- Columbia Business School – Class Profile, Employment Reports, and Salaries
- Kellogg School of Management – Class Profile, Employment Reports, and Salaries
- Chicago Booth School of Business – Class Profile, Employment Reports, and Salaries
- MIT Sloan School of Management – Class Profile, Employment Reports, and Salaries
FAQs
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.
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
To help you decide whether to go for the Kellogg or Booth MBA program. Here are the parameters to analyze Kellogg vs. Booth:
Class Profile
MBA Program Focus
Ranking Lists
MBA Program and Curriculum
Teaching Methods, Experiential Learning, and Global Opportunities
Placement and Internship Opportunities
Admissions Process and Cost of Attendance
Alumni Network
Scholarship Programs
Facilities
Columbia Business School is located at 3022 Broadway (at 116th Street), New York
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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