How to Apply to Harvard Business School’s MBA Program

By Julia Gilmore Updated Sep 17, 2018

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Introduction
Fees and Funding
Application Procedure
University Culture

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Harvard University is possibly the most famous university in the world, and their MBA program at Harvard Business School is no different. Located in Boston, Massachusetts, and ranked first globally in the QS full-time MBA rankings, it’s one of the most competitive programs to receive your MBA tuition at, but don’t let that put you off.

The mission statement of HBS is “To educate leaders that make a difference in the world”. The school’s admissions pages reflect this mission and states the common characteristics Harvard MBA students should share:

Habit of leadership: Candidates should have experience of leadership in any form, as the university is looking for evidence of your potential.
Analytical aptitude and appetite: Candidates must enjoy lively discussion and debate, as the success of the case methods depends on the active participation of students who are able to analyze and act upon complex information.
Engaged community citizenship: HBS is looking for students who have high ethical standards and respect for others and will make a positive contribution to the MBA program.

The school’s famous case method is internationally renowned. HBS faculty writes over 80 percent of business school cases sold globally, producing approximately 350 new cases per year.

During the two-year MBA program, students will read and work on 500 cases, both on their own and in ‘learning teams’, as well as discussions with the whole class.

Class participation is very important in the Harvard MBA course, with 50 percent of many course grades based on the quality of your class participation.

HBS also offers the 2+2 program for the MBA, a deferred admissions process for current students, either in college or a full-time master’s program. It’s comprised of at least two years of professional work experience followed by two years in the HBS MBA program.

Dual degree options are also offered through other Harvard colleges, including Harvard Law School, Harvard Medical School and the Harvard School of Dental Medicine.

Harvard is keen to emphasize their focus on entrepreneurship and innovation, with opportunities to connect with entrepreneurs, explore potential new ventures, and learn in-demand collaborative, team-based entrepreneurial skills through utilizing the Harvard i-Lab. Students also have access to resources like the authoritative Harvard Business Review, and the world-class, pioneering research facilities at Harvard University.

MBA candidates also benefit from a residential learning community, with access to an on-campus community of support. HBS alumni relationships are also a huge benefit to build networks for new business opportunities.

Fees and Funding

Fees

Tuition fees for one year of attendance is US$73,440
Harvard also provides an estimated total cost, which includes student health insurance, program materials, rooms and utilities, and living expenses. You can expect to pay between US$109,124 and US$151,128 per year depending on whether you’re single, married, married with one child, or married with two children.
You can find out more about fees for a year at HBS here.

Funding

HBS Fellowships are needs-based fellowships that are received by approximately 50 percent of the class, with the average Fellowship worth around US$37,000 per year, or US$74,000 total. Fellowships are gifts that don’t need to be paid back, and all students are encouraged to apply after being admitted to the program. See more Fellowship info here
There are also several external funding sources available. You can apply for up to US$30,000 of funding without impacting your Fellowship award. External funding includes scholarships for veterans/active military, minority students, LGBTQ students, women, and international students. See the full list of external funding sources here.
Most students choose to take out a loan, with the average student graduating with loans of US$87,000 last year. All students receive information about applying for loans once admitted to HBS, but there’s also helpful advice here.
Harvard offers additional fellowships as well as the needs-based HBS Fellowship. These include the Horace W. Goldsmith Fellowship, open to students demonstrating non-profit leadership, and the John H. McArthur Canadian Fellowship, open to students from all regions of Canada. Learn about additional fellowships here.
Some MBA candidates take an offer of sponsorship from their organizations to help fund their MBAs, but it’s important to understand repayment terms. Before accepting a sponsorship offer, read what needs to be considered here.

Application Procedure

Admissions Requirements	Four-year undergraduate degree or equivalent GMAT or GRE test results TOEFL, IELTS, or PTE test results if you attended a non-English undergraduate program. Strong academic record
Admissions Documents	Transcripts from undergraduate (and graduate, if applicable) academic institutions you have attended Admissions essay Two letters of recommendation Up-to-date resume Acceptance of policies Non-refundable application fee (US$250)
Interviews	If your written application is successful, you’ll be invited to an interview. Interviews are offered on a rolling basis, so the timing doesn’t imply anything about the status of your application Interviews last around 30 minutes, and can take place in person or over Skype Within 24 hours of finishing your interview, candidates are required to submit a written reflection through the online application system.
Admissions Deadlines	Harvard has two admissions deadline rounds, recently scrapping their third and final admissions round as roughly 95 percent of MBA students applied in the first or second round. The admissions deadlines are usually in September and January. For the class of 2021, the deadline for Round 1 was September 5^th, 2018, and Round 2 is January 4^th, 2019 The deadline for the 2+2 admissions is April 9^th, 2019
International Students	International students must have a college degree equivalent to a four-year American baccalaureate degree, which includes 3-year bachelor’s degree programs All transcripts must be translated into English, however if admitted to HBS you’ll also have to provide an official original language paper transcript to verify it completely matches the English translation.
Application acceptance rate	For the MBA Class of 2020, HBS received 9,886 applications. The total MBA enrollment was 930 students, meaning there was a 9.4 percent acceptance rate.

University Culture

HBS’s class of 2020 profile is quite diverse, as you might expect from a program of 930 enrolled students. Female students make up 41 percent of the total class – not total gender parity, but far closer than other leading MBA programs. US ethnic minorities make up 26 percent of the and 37 percent of the cohort is international, with a staggering 69 countries represented:

63 percent from North America
14 percent from Asia
Eight percent from Europe
Six percent from Mexico, Central, and South America
Five percent from Canada
Two percent from the Middle East
Two percent from Africa
One percent from Oceania

HBS students tend to be young and not far removed from finishing their undergrad, with an average age of 27. The most common pre-MBA career industries are consulting, high tech/communications and venture capital/private equity (all 16 percent) but students come from a range of backgrounds including government/education/non-profit (eight percent) and military (five percent). The average GPA of the class of 2020 is 3.71, and the median GMAT score is 730.

The business school has over 70 student interest clubs, and the Student Association offers over 200 leadership positions where students can serve as liaisons between the MBA student body and the faculty and administration. Students also have access to over 300 speaker events, 26 conferences, multiple career treks, and various social activities such as International Week and the Newport Ball.

Over 80 percent of HBS students live in HBS dorms or Harvard affiliated housing. On-campus housing is assigned through a lottery, and residence halls range from dorm rooms to three-bedroom apartments.

The HBS MBA program has some impressive graduate statistics, as post-graduation, 91 percent of students are employed within three months, with an average salary of US$177,541 after three years. The most common post-MBA career paths for the graduating class of 2017 were financial services (31 percent) and consulting (23 percent). The majority (87 percent) are employed in the US.

An MBA from Harvard Business School is a solid investment, as you can be sure you’ll receive one of the best business school educations in the world, with a case method that is often imitated but never bettered. It is by no means an easy program to get onto, but the benefits are undeniable- if you are a strong candidate who embodies Harvard’s ethos of making a difference in the world, you have nothing to lose by submitting that application.

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Written by

Julia G

Julia is a writer for TopMBA.com, publishing articles for business students and graduates across the world. A native Londoner, she holds an MSc in Marketing Strategy & Innovation from Cass Business School and a BA in Classical Studies & English from Newcastle University.