What are M7 Business Schools and how can you land an MBA in them?
If you’re an MBA aspirant, you would have heard about The M7 business schools from friends or colleagues. The question is, what exactly are these schools? Which MBA schools comprise the M7 Business schools? and how do they fare in comparison to other universities?
This blog will provide you with all of the information you require about the M7 business schools.
Our team at LilacBuds, with its expertise in MBA admissions, has carefully curated this blog for you to go over each of the M7 schools’ rankings, requirements, and what you can anticipate from their MBA.
Continue reading to see how the acclaimed M7 business school group can help you and your career.
But first, let us know what is M7 and why M7?
The M7 B-schools, often known as the magical or marvellous seven, is a set of well-known, elite US business schools that are largely regarded as among the best in the world.
The list of M7 Business Schools is as follows:
- 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
What is the significance of attending an M7 Business School?
Attending an M7 school is unquestionably worthwhile. These business schools are well-known not only for their quality of learning offerings, but also for their superb teaching staff.
Infact, some of the greatest programmes in the world are offered by the M7 business schools. If you want to reach the top, an M7 MBA is a sure way to get there. This will almost surely result in a higher average income than other comparable MBA programmes, have access to leading professors, change your career path, and join outstanding communities of notable alumni, including presidents and CEOs, at these business schools.
However, it is important to understand that the M7 is not a legally recognised designation. The deans of the seven institutions decided to develop an informal network to share information and meet twice a year many years ago. The self-anointed seven institutions have kept the organisation in check over the years.
So although M7s are undoubtedly A-listers, and you cannot go wrong with them, there are several elite schools outside of this category that may be a better fit for you. NYU Stern, UVA Darden, UCLA Anderson, Michigan Ross, and other top institutions consistently rank in the top ten of all major rankings.
How well do M7 institutions do in comparison to each other?
Here’s how the M7 business schools rank in the most recent Business School rankings from major business publications:
*last 3 years
Before blatantly going with the rankings, it is important to understand what you hope to gain from an M7 MBA programme. For specific job pathways, some schools have higher performance. Different tuition fees and admission requirements are further factors to think about. We’ll compare all of these characteristics for each M7 school to offer you the most accurate picture of which is the greatest fit for you.
Let’s looks at the class profile and employment statistics of these institutions first:
| Work Exp.
The common observation from these statistics is that candidates at all M7 schools have at least a 3.5 GPA and a 720 GMAT score. Minimum 90% of the class got offers from top MNCs and $30,000 seem to be the average signing bonus.
It’s also important to know that the majority of successful applicants to M7 business schools are between the ages of 27 and 28, with 4-5 years of work experience. This gives you an idea of the type of students the schools are looking for through their application process – someone who is young but has enough experience to benefit from the advanced instruction provided by the world-class experts at these institutions.
It is also imperative to know exactly how much do M7 schools cost and what is your budget for your education. Several applicants consider the expenses for an MBA at an M7 school to be a burden. The overall cost would range from roughly $180,000 to around $200,000 on average. This cost includes tuition, living expenses, and any other expenses students may pay while studying abroad.
Now let’s look at the program-wise distinction between these schools:
If Accounting is your true calling, you would want to consider Kellogg School of Management as it is ranked first by most publications. The Wharton School comes in third place, followed by Chicago Booth (#5) and Stanford GSB (#8).
The process of collecting, combining, analysing, and utilising statistical models to transform data into business insights is known as Business Analytics. Business Analytics occupations span the spectrum from business intelligence management to analyst. Amongst M7, MIT Sloan ranks #1 when it comes to Business Analytics programs. The next in line is Wharton school that ranks #3, followed by Chicago Booth (#6).
If you are keen in Entrepreneurship and keen on bringing your own business idea into reality one day then you can trust yourself under Stanford GSB and MIT Sloan, both of which are ranked #2 and #3 respectively, while Harvard business school is at #5 and Wharton at #6.
MBA in Finance is a popular MBA concentration with high development potential in the Banking, Financial Services, and Insurance industries. Financial Management is concerned with the planning, management, and regulation of a company’s financial resources and assets. The Wharton School is ranked #1, followed by Chicago Booth (#2), Columbia (#4), MIT Sloan (#5), and Stanford GSB (#6).
A Marketing specialisation is for you if you are interested in media, sales, promotion, or entertainment. You can work in a variety of industries, including FMCG, hospitality, media, tourism, consulting, market research, banking, and so on. Kellogg School of Management is the best business school in the world for Marketing, followed by Wharton School (#2).
Employment and salary of an M7 MBA in 2022:
A significant number of applicants to any of the M7 business schools have past work experience in business/economics, consulting firms, media, or technology firms.
Students in Harvard’s MBA Co2022 have worked in private equity firms, consulting firms, technology, banking, energy, and other fields. Students of the Wharton MBA Co2022 have worked in consulting and financial services, the government sector, technical services, and other areas.
Post-graduation, the consulting industry employs the majority of M7 MBA students.
If we look at the salaries, the median salary for most of these schools has been $150,000. It is given that graduating from these best schools will land you the best salary offer.
Scholarships available for these schools:
Students at M7 business schools can apply for a variety of MBA scholarships, including need-based, merit-based, diversity, and gender-based external grants. However, each business school may offer a different sort and quantity of funding.
Harvard MBA scholarships are awarded solely on the basis of financial need; merit-based scholarships are not available.
Stanford also provides need-based financial aid. The average Stanford GSB fellowship is $40,000 each year, with a total reward of $80,000. The factors used by the MIT Sloan Admissions Committee to grant merit-based scholarships to exceptional individuals is largely based on academic merit, professional experience and your ability to advance MIT Sloan’s name.
If you’re thinking of applying to Columbia Business School and Chicago Booth, you can also apply for merit-based scholarships. In addition, the Wharton MBA school offers a variety of fellowship options based on your admissions application. Academic achievements, community involvement, professional development, and personal background are all considered while applying for a fellowship.
All said and done, getting into the top MBA program will help you jump start your career.
Still undecided about which school is best for you? Get in contact with our experts that have a wealth of experience and knowledge in the same sector.
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