Masters in Business Administration is one of the most popular post-graduate degrees in the world. This is primarily because it opens up a wide array of career paths, including healthcare, finance, marketing, human resources, and information technology. It has gained a significant reputation among students as it can help them kick-start their entrepreneurial career or take an already established business to the next level. The MBA program has made remarkable growth over the years, mainly because of the lucrative employment opportunities offered to MBA degree holders. Along with that, the type of connections that you form with people at a business school will inevitably help you in attaining your career goals.
When it comes to choosing a business school, this decision solely depends on your career goals. However, it is impossible to overlook the M7, an elite group of private business schools that are considered to offer the world’s best MBA programs. The list includes top business schools like Columbia Business School, Harvard Business School, MIT Sloan School of Management, Northwestern University’s Kellogg School of Management, Stanford Graduate School of Business, University of Chicago’s Booth School of Business, and Wharton School at the University of Pennsylvania.
1. University of Chicago Booth
The University of Chicago Booth offers a fundamental MBA program where students learn from world-class professors specializing in their specific fields. Several Booth faculty members have won the Nobel Prize for economic sciences. It has a rigorous curriculum with fourteen concentrations that emphasize experiential learning. It focuses on uplifting the learning process and follows a holistic approach.
This makes the students look for innovative solutions in each of the challenges faced during their course. Flexibility and freedom define the program as it offers plenty of room for dissent and particular emphasis on research. The university pushes its students to question assumptions and utilize a combination of theoretical knowledge and its real-world application.
2. University of Pennsylvania (Wharton)
Wharton is America’s oldest business school. ‘The Financial Times’ has been recognized as the top business school for research. Wharton is primarily known as a finance school but equally holds authority in entrepreneurship and technology.
Wharton’s MBA program is extremely flexible with nineteen majors and over two-hundred electives to choose from while opting for the aimed course. It is also famous for the diversity of its student profiles, which attracts a lot of applicants. The school is always on a lookout for students who possess the team spirit. Due to this, they have a team-based discussion during the interview process.
3. Stanford Graduate School of Business
Stanford Graduate School of Business is often compared to Harvard Business School. It is known as one of the most selective business schools. It requires the applicants to work extremely hard and improve their existing skills as the school usually has a low acceptance rate (5.4% for 2018 admissions).
You should demonstrate your leadership potential and attitude towards learning with an exceptionally high GMAT score. The school is open to students who wish to “change the world” and are willing to persist towards accomplishing this goal. Stanford Graduate of School Business is a leader among other prominent business schools in sustainable business and social ventures.
4. Harvard Business School
Harvard Business School is one of the most prestigious schools that offers an unrivaled MBA program. So, it is safe to assume that getting into this school is not easy and requires immense determination and hard work. If you plan on applying to Harvard Business School, it is crucial to understand the admission officers’ requirements and thoroughly research the program.
You can do this on their website as it will give you an idea of the academic requirements, including their current batch’s average GPA. You can also reach out to Harvard alumni via a professional platform and gather the required information. Try to identify all the critical factors that are held in the business school’s high regard. Once you have recognized these factors, separate the ones that you can focus. Don’t be intimidated by the qualifications of other students. Instead, concentrate on how you can build on your strengths and turn your weaknesses into strengths.
5. MIT Sloan School of Management
MIT Sloan is situated in Cambridge, Massachusetts, in the north of Boston. Its faculty members are mostly company executives, entrepreneurs, and economists.
The school’s motto is “mind and hand,” which perpetuates the idea of action learning or “learning by doing.” The first semester is exceptionally challenging as all students take the same set of five required core courses in that first term. The school is surrounded by renowned companies and labs, which provides an enriching atmosphere for the students.
6. Kellogg School of Management (Northwestern University)
Kellogg School of Management is located at Northwestern University’s main campus in Illinois. The management school is known for its multi-disciplinary approach towards education and has a track record of providing prolific placement opportunities. Although the school has consistently ranked as number one for marketing, the MBA program is equally prestigious, focusing on teamwork and collaboration.
7. Columbia Business School
Columbia Business School is located in Manhattan in New York City. It runs an MBA, executive MBA, executive education, doctoral, and Master of Science programs. The fact that it is located at the heart of one of the most exciting cities globally and has a plethora of business leaders is a plus point. Top corporate executives from the city guide the students and advise how to build a long-lasting network in the business world.