Harvard Business School (HBS) is synonymous with excellence, offering a world-class MBA program that prepares future leaders to make a meaningful impact. In this comprehensive article, we delve into every aspect of the HBS MBA experience.
Discover the diverse class profile of the MBA Class of 2026, explore employment and placement insights for the Class of 2024, and understand the cost of attendance and available scholarships. We’ll also walk you through the step-by-step admissions process, key application deadlines, and what HBS looks for in its candidates.
If you’re ready to chart your path to one of the most prestigious MBA programs in the world, this article is your perfect starting point.
Class Profile for Harvard MBA Class of 2026 (Entering 2024)
Harvard Business School’s MBA Class of 2026 reflects a diverse, accomplished, and highly talented cohort. Here’s an overview of the class demographics, academic backgrounds, professional experiences, and test scores.
Harvard MBA Class of 2026 Overview
| Metric | Numbers |
| Total Enrollment | 930 |
| Applications Received | 9,856 |
| Women | 45% |
| International Students | 35% |
Primary Citizenship Distribution
| Region | Percentage |
| Africa | 2% |
| Asia | 13% |
| Canada | 3% |
| Europe | 8% |
| Mexico, Central & South America | 5% |
| Middle East | 3% |
| Oceania | <1% |
| United States | 65% |
Academic Background
| Metric | Details |
| First-Generation Students | 11% |
| Universities Represented | 296 |
| Average GPA | 3.69 (US 4.0 scale) |
Undergraduate Majors
| Field of Study | Percentage |
| Arts / Humanities | 5% |
| Business / Commerce | 24% |
| Economics | 19% |
| Engineering | 22% |
| Math / Physical Sciences | 18% |
| Social Sciences | 12% |
Professional Experience
| Metric | Details |
| Average Work Experience | 5 Years |
Pre-MBA Industry Breakdown
| Industry | Percentage |
| Consulting | 18% |
| Consumer Products / Retail / E-Commerce | 9% |
| Financial Services | 10% |
| Health Care / Biotech | 8% |
| Manufacturing / Industrial / Energy | 9% |
| Media / Entertainment / Travel | 4% |
| Military | 5% |
| Nonprofit / Government / Education | 6% |
| Services | 2% |
| Technology | 12% |
| Venture Capital / Private Equity | 16% |
Test Scores
GRE Scores
| Category | Range |
| Verbal (All Scores) | 145–170 |
| Quantitative (All Scores) | 146–170 |
| Verbal (Middle 80%) | 157–168 |
| Quantitative (Middle 80%) | 157–169 |
| Verbal (Median) | 163 |
| Quantitative (Median) | 163 |
GMAT Scores
| Category | Range |
| Verbal (All Scores) | 27–51 |
| Quantitative (All Scores) | 35–51 |
| Total Score (All Scores) | 540–790 |
| Verbal (Middle 80%) | 38–47 |
| Quantitative (Middle 80%) | 45–50 |
| Total Score (Middle 80%) | 700–770 |
| Verbal (Median) | 42 |
| Quantitative (Median) | 49 |
| Total Score (Median) | 740 |
Note: HBS accepts both GMAT and GRE scores without preference. For the Class of 2026, 63% submitted GMAT scores and 41% submitted GRE scores, with some submitting both. GMAT Focus data will be reported starting with the Class of 2027.
This diverse and talented group exemplifies Harvard’s mission of developing leaders who make a difference in the world. With a strong academic foundation, robust professional experience, and diverse global representation, the Class of 2026 is poised for success.
Observations and Inferences from the Class Profile Data
- The Class of 2026 includes 35% international students, with representation from regions such as Asia (13%), Europe (8%), and Latin America (5%), fostering a global learning environment.
- Women constitute 45% of the class, reflecting HBS’s efforts to promote gender balance and inclusivity in leadership.
- First-generation college students make up 11% of the class, showcasing HBS’s commitment to socioeconomic diversity and broadening access to business education.
- Students represent 296 universities worldwide, with undergraduate majors spanning engineering (22%), economics (19%), and social sciences (12%), contributing to diverse academic perspectives.
- The average GPA of 3.69 on a 4.0 scale underscores the strong academic credentials and intellectual rigor of the class.
- Students bring an average of 5 years of work experience, adding real-world insights and professional maturity to the learning experience.
- Pre-MBA industries include consulting (18%), private equity (16%), technology (12%), and healthcare (8%), ensuring varied professional expertise in the cohort.
- The median GMAT score of 740 and GRE median scores of 163 for both verbal and quantitative demonstrate the analytical and verbal proficiency of the students, with flexibility in test score ranges.
- The class profile reflects HBS’s dedication to inclusivity, with significant representation of women and first-generation students, fostering a rich and varied learning community.
- Geographic and professional diversity in the cohort positions students to gain cross-cultural understanding and global leadership skills, critical for today’s interconnected business world.
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Harvard MBA Employment and Placement Report for the Class of 2024
Harvard Business School (HBS) continues to deliver outstanding placement outcomes, underscoring its reputation for cultivating leaders who thrive across industries and functions. Here’s a breakdown of the Class of 2024 employment data.
Employment Report Summary
| Metric | Percentage |
| Students Seeking Employment | 70% |
| Students Not Seeking Employment | 30% |
Breakdown of Students Not Seeking Employment
| Reason | Percentage |
| Starting Own Business | 14% |
| Company Sponsored or Already Employed | 13% |
| Other | 3% |
| Postponing Job Search | 1% |
| Continuing Education | 0% |
Harvard MBA Salary Overview
| Metric | Amount | Receiving Percentage |
| Median Base Salary | $175,000 | 100% |
| Median Signing Bonus | $30,000 | 53% |
| Median Variable Bonus | $47,500 | 65% |
Harvard MBA Employment by Industry
| Industry | Percentage | Median Base Salary | Median Signing Bonus | Median Variable Bonus |
| Consulting | 18% | $190,000 | $30,000 | $40,000 |
| Consumer Products | 3% | $150,000 | $40,000 | $30,000 |
| Entertainment / Media | 3% | $165,000 | $13,000 | $21,000 |
| Health Care | 6% | $165,000 | $30,000 | $29,000 |
| Investment Banking | 5% | $175,000 | $50,000 | $175,000 |
| Investment Management / Hedge Fund | 6% | $178,000 | $50,000 | $90,000 |
| Manufacturing | 5% | $165,000 | $30,000 | $40,000 |
| Nonprofit / Government | 5% | $120,000 | N/A | N/A |
| Private Equity | 19% | $180,000 | $31,000 | $155,000 |
| Retail | 2% | $142,000 | N/A | $25,000 |
| Services | 3% | $155,000 | N/A | $40,000 |
| Technology | 16% | $165,000 | $25,000 | $28,000 |
| Venture Capital | 5% | $178,000 | $15,000 | $42,000 |
Harvard MBA Employment by Function
| Function | Percentage | Median Base Salary | Median Signing Bonus | Median Variable Bonus |
| Business Development | 8% | $165,000 | $28,000 | $30,000 |
| Consulting | 18% | $190,000 | $30,000 | $40,000 |
| Finance | 38% | $175,000 | $50,000 | $113,000 |
| General Management | 13% | $164,000 | $35,000 | $36,000 |
| Marketing | 11% | $155,000 | $30,000 | $26,000 |
| Strategic Planning | 8% | $145,000 | $25,000 | $27,000 |
| Other | 5% | $150,000 | $25,000 | $42,000 |
Harvard MBA Employment by Location
| Region | Percentage | Median Base Salary | Median Signing Bonus | Median Variable Bonus |
| United States (88%) | ||||
| Mid-Atlantic | 5% | $172,000 | $30,000 | $33,000 |
| Midwest | 6% | $175,000 | $30,000 | $44,000 |
| Northeast | 49% | $175,000 | $30,000 | $48,000 |
| South | 5% | $175,000 | $30,000 | $48,000 |
| Southwest | 6% | $175,000 | $30,000 | $61,000 |
| West | 17% | $180,000 | $30,000 | $40,000 |
| International (12%) | ||||
| Asia | 5% | $120,000 | $25,000 | $50,000 |
| Europe | 5% | $135,000 | $25,000 | $50,000 |
| Latin America | 1% | $115,000 | N/A | N/A |
Harvard MBA: Startups and Entrepreneurship
| Metric | Details |
| Students Joining Startups | 12% |
| Median Base Salary at Startups | $160,000 |
| Percentage Founding Businesses | 14% |
Founders’ Industries
| Industry | Percentage |
| Technology | 55% |
| Health Care | 17% |
| Manufacturing | 8% |
| Marketing | 25% |
HBS continues to foster entrepreneurial spirit and global impact, making it a hub for career growth and innovation.
Observations and Inferences from the Employment Report
- High Employment Rate: Of the 70% of students seeking employment, 85% received offers, and 77% accepted them, indicating less than strong demand for HBS graduates or a tough economic environment compared to previous years.
- Diverse Career Choices: About 30% of students did not seek employment, with 14% starting their own businesses and 13% being company-sponsored or already employed. This highlights HBS’s emphasis on entrepreneurial ventures and leadership pathways beyond traditional employment.
- Strong Compensation Packages: A median base salary of $175,000 across all industries is complemented by significant signing ($30,000) and variable bonuses ($47,500), reflecting the premium employers place on HBS talent.
- Consulting and Finance Dominate: Consulting (18%) and finance-related fields (38% combined) remain the top choices for graduates, offering high median salaries (e.g., $190,000 in consulting and $175,000 in finance). Private equity and venture capital, with median salaries of $180,000 and $178,000 respectively, are particularly lucrative.
- Rise of Technology and Startups: Technology accounts for 16% of industry placements, with startups attracting 12% of students. This trend underscores the growing interest in innovative and disruptive sectors among HBS graduates.
- Regional Employment Trends: The Northeast region (49%) dominates domestic placements, while the West (17%) is also popular, likely due to its thriving tech and startup ecosystems. International placements (12%) highlight HBS’s global reach, with Asia and Europe leading among international locations.
- Entrepreneurial Spirit: A significant portion of students (14%) chose to start their own businesses, with technology (55%) and healthcare (17%) being the most common industries. This reinforces HBS’s reputation for fostering entrepreneurship and providing resources for founders.
- Broad Functional Representation: While finance (38%) and consulting (18%) functions are prevalent, significant representation in general management (13%) and marketing (11%) demonstrates the versatility of HBS graduates across business domains.
- Strong Industry-Specific Compensation Variability: Consulting and private equity offer the highest median base salaries ($190,000 and $180,000, respectively). Startups, though offering slightly lower salaries ($160,000 median base), attract graduates due to their growth potential and entrepreneurial appeal.
These insights highlight HBS’s ability to prepare students for diverse and high-impact careers while fostering innovation and entrepreneurship. The school’s strong employment outcomes, robust compensation packages, and global reach affirm its status as a leading business school.
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MBA Cost of Attendance and Scholarships
Harvard Business School (HBS) views its MBA program as a shared investment in your future. The cost of attendance includes both direct and indirect expenses, and students are supported through need-based scholarships, complementary fellowships, external scholarships, and loans. Let’s break down the financial details and available support.
Cost of Attendance for the 2024–2025 Academic Year
The annual cost of attendance reflects a nine-month academic year for single students, with adjustments for married students or those with dependents. Here’s a detailed breakdown:
Cost of Attendance for Single Students
| Expense | Amount |
| Tuition | $76,410 |
| HUHS Student Health Fee | $1,592 |
| Student Health Insurance Plan | $4,202 |
| Course & Program Materials Fee | $2,650 |
| Housing | $17,280 |
| Food | $6,120 |
| Transportation | $2,280 |
| Other Living Expenses | $8,320 |
| Total | $118,854 |
Adjusted Total for Different Family Structures
| Family Structure | Total Cost |
| Married | $143,636 |
| Married with One Child | $160,918 |
| Married with Two Children | $166,142 |
Average Financial Support and Scholarships
| Metric | Amount |
| Average Need-Based Scholarship | $92,000 over two years |
| Total Funds Awarded in FY23 | $51 million |
| Median Starting Salary After HBS | $175,000 |
| Median Signing Bonus After HBS | $30,000 |
Scholarships at HBS
HBS offers generous need-based scholarships to approximately 50% of students. These scholarships are gifts and do not require repayment. The average annual scholarship is $46,000 per year, or $92,000 over two years. In addition:
- Full Tuition Scholarships: Available to students with the greatest financial need.
- Middle-Income Scholarships: Expanded in 2022 to support more students from middle-income backgrounds.
Determining Financial Need
Financial need is assessed based on factors such as:
- Gross income from the prior three years.
- Assets and socioeconomic background.
- Undergraduate debt.
- Spouse’s income and assets (if applicable).
A standardized formula ensures fairness, with higher earners contributing more than those with lower earnings.
Financial Aid Package Components
HBS financial aid packages may include:
- Need-Based Scholarships: Covering a portion of tuition and fees.
- Student Loans: Flexible repayment options to meet remaining costs.
- Complementary Fellowships: Additional funding for specific criteria.
Meeting the Cost of Attendance
Students meet the remaining cost of the program through:
- Personal savings.
- Employer sponsorships or loans (treated as external scholarships).
- External scholarships and student loans.
Summary of Cost Distribution
For single students, the total annual cost of $118,854 is primarily distributed as:
- Tuition: $76,410 (largest expense).
- Indirect Expenses: $34,000, including housing, food, and transportation.
- Required Fees: $8,444.
This financial structure, combined with HBS’s robust scholarship offerings, ensures that the program remains accessible to students from diverse financial backgrounds, making it a worthwhile investment in leadership and career advancement.
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MBA Admissions Process
Harvard Business School (HBS) seeks to build a diverse and dynamic community of future leaders with unique perspectives and experiences. The admissions process is designed to evaluate your potential for leadership and your fit with the HBS community. Below is a detailed guide to the steps involved in applying to the HBS MBA program. Let’s first see who Harvard is looking for.
What qualities Harvard is looking for?
Harvard Business School seeks to admit individuals who are business-minded, leadership-focused, and growth-oriented. These characteristics form the foundation of the HBS community and drive its mission to educate leaders who make a difference in the world.
| Quality | Explanation | How to Show in Your Application |
| Business Minded | Passionate about using business as a force for good and solving big problems through creative and integrated thinking. | Highlight interpersonal skills, quantitative abilities, and plans for future impact through business. |
| Leadership Focused | Aspires to lead and make a difference by building and sustaining diverse teams, with leadership evident in various forms. | Showcase leadership impact in extracurriculars, community initiatives, or professional work. |
| Growth Oriented | Broadens perspectives through creative problem-solving, active listening, and dynamic engagement with diverse peers. | Provide examples of personal growth, development, and active engagement with the world around you. |
By demonstrating these traits in your application, you can highlight your alignment with the qualities HBS values in its future leaders.
Application Process
1. Submit a Written Application
The written application is the first step in the admissions process. It requires you to assemble various materials that allow the Admissions Board to assess your qualifications comprehensively. All application materials must be submitted online by the specified deadlines.
What You Need to Prepare:
- Transcripts: Academic records from your undergraduate and, if applicable, graduate institutions.
- GRE or GMAT: Either test is accepted, with no preference for one over the other.
- English Language Test: Required if your undergraduate education was not conducted in English.
- Essays: Reflect on your leadership potential, career goals, and what you’ll bring to HBS.
- Essays for 2+2 Deferred Applicants: Specific prompts for applicants applying through this program.
- Recommendations: Two letters of recommendation from individuals who can provide insight into your leadership and professional accomplishments.
- Resume: A detailed one-page summary of your professional and academic background.
- Fee or Fee Waiver: Pay the application fee or request a fee waiver if applicable.
- Acceptance of Policies: Acknowledgment of HBS application policies.
2. Interview
Interviews are conducted by invitation only and are an integral part of the application process. They are 30-minute, personalized conversations led by an MBA Admissions Board member who has reviewed your application.
- Format: Interviews can be conducted on campus, in domestic or international hub cities, or via Zoom.
- Purpose: The interview allows the board to learn more about you beyond the written application.
- Indicator: An invitation to interview indicates interest but is not a guarantee of admission.
The format or timing of your interview invitation does not impact your candidacy or its evaluation.
3. Post-Interview Reflection
Following your interview, you must submit a written reflection within 24 hours. This reflection provides an opportunity to share additional insights or address any points from the interview. Instructions for this step are provided to interviewees.
Harvard MBA Application Deadlines
HBS has distinct application rounds. You may apply in one round only within the application year.
Deadlines for MBA Class of 2027 (Matriculating Fall 2025)
| Round | Submit By | Notification of Decision |
| Round One | September 4, 2024 | December 10, 2024 |
| Round Two | January 6, 2025 | March 26, 2025 |
- Applications received after September 4, 2024, are considered in Round 2.
- Applications received after January 6, 2025, will not be considered.
Deadlines for 2+2 Deferred Admission Applicants
| Round | Submit By | Notification of Decision |
| 2+2 Round | April 23, 2025 | June 26, 2025 |
Key Takeaways on Harvard MBA Admissions
- The admissions process at HBS is holistic and focuses on evaluating leadership potential, academic excellence, and the ability to contribute to the HBS community.
- Applicants should ensure their materials are complete, polished, and submitted by the appropriate deadlines.
- The interview and post-interview reflection provide additional opportunities to showcase your fit for HBS.
By thoughtfully preparing your application and reflecting on your unique strengths, you can make a compelling case for admission to Harvard Business School.
Final Thoughts
Harvard Business School’s MBA program stands as a gateway to unparalleled opportunities, equipping you with the skills, knowledge, and global network needed to lead and innovate in any field.
From the diverse Class of 2026 profile to the impressive career outcomes of the Class of 2024, HBS continues to set the gold standard for business education. With a transparent admissions process and generous financial aid, the program ensures accessibility for talented candidates from all walks of life.
As you prepare your HBS application, focus on demonstrating your leadership potential, growth mindset, and ability to make a meaningful impact. This is your chance to tell your story and show why you belong in one of the world’s most prestigious MBA programs.
Need expert guidance to craft a compelling application? admitStreet specializes in helping applicants create standout applications for top business schools like HBS. From essay strategies to interview preparation, we’re here to help you turn your Harvard MBA dream into a reality.
Achieve Your Harvard MBA Dream
Get personalized guidance to craft a standout application, highlight your unique story, and maximize your chances of admission to Harvard Business School. Let AdmitStreet’s experts help you every step of the way.