Harvard MBA Cost for Intending Students: Are you aware that one of the most esteemed universities in the world is Harvard? In fact, being accepted into Harvard Business School is a fantastic accomplishment, and receiving a degree from this institution is something to be quite proud of. However, the cost of the Harvard MBA by itself can discourage students from pursuing their degree. This post covers all you need to know about the cost of Harvard MBA school fees and other necessary information. However, before we proceed to know to the main topic. A little introduction about Harvard Business School is essential to discuss.
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Intoduction to Harvard Business School
Cambridge, Massachusetts-based Harvard Institution is a private Ivy League research university that dates back to 1636. There are roughly 6,800 undergraduate and 14,000 graduate students there.
In addition, Harvard is the nation’s oldest institution of higher study. It is one of the most prestigious colleges in the world due to its history, prestige, wealth, and academic reputation.
Harvard University’s graduate business school, Harvard Business School, was established in 1908. The place is in Massachusetts, in Boston.
It consistently ranks as one of the greatest universities in the world and provides a sizable full-time MBA program, numerous doctoral degrees in management, and executive education opportunities.
2,011 students are enrolled at HBS. Additionally, the Financial Times ranked it top in the globe, while U.S. News & World Report placed it tied for third in the nation (2022).
Now, let’s discuss about what Harvard MBA means.
What is a Harvard MBA?
Students who have excelled academically, persisted, and stood out from their peers are eligible for a number of business programs at the Harvard Business School.
And, of course, those who wish to pursue a career in business.
A degree offered by Harvard Business School is the MBA, or Master of Business Administration.
According to Harvard, this is a “two-year, full-time residential program with a focus on real-world practice,” where students can band together to cultivate the fortitude, expertise, and self-assurance required to confront global issues.
In the Harvard MBA program, you’ll focus on six principles that make this program — and school — stand out from others:
- Global Intelligence
- Learning in Practice
- Entrepreneurship & Innovation
- Residential Learning Community
- Alumni Relationships
- Publications & Resources
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Harvard MBA Annual Cost of Attendance Details
The cost of tuition for the Harvard MBA program for the 2022-2023 year is $73,440.
However, this does not include the additional costs that must be paid in order for someone to live while going to school.
There are additional expenses to take into account, and Harvard does an excellent job of looking at the total cost of attendance to help students understand what they will be accountable for.
Rent
You must reside close to the campus if you plan to attend school (in person) and be physically present for your classes.
Students at Harvard have the option of residing on campus for the full nine months of the academic year.
However, as most leases are for a full year, if you live off-campus in your own apartment you’ll have to pay for the extra three months when you’re not in school (12 months).
Harvard estimates that the typical monthly cost of utilities and rent is $1,570.
You’ll need to do the arithmetic to determine which choice is the most affordable, even if living off-campus may occasionally be more cost-effective.
Of course, one easy way to cut these costs is to enroll in online courses (if you already have a place you call home).
Let’s move on the application method for Harvard MBA.
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How to Get into Harvard Business School
One of the most renowned MBA programs in the world is offered by Harvard University. As a result, getting accepted to Harvard MBA demands a lot of work, and it’s essential to know what the admissions committee for the program looks for in applications.
To further understand, we’ll go over certain procedures that can aid in your admission to Harvard Business School.
Start Research Early
Start your research at least a year before the deadline for applications. For the HBS MBA class of 2022, the Round 1 application deadline is September 4, and the Round 2 application deadline is January 6. I would advise submitting an application in the initial round.
You’ll need to conduct two different types of study, though.
- External Research
- Internal Research
NOTE: For its most recent incoming class, HBS blows an extremely high median GMAT score of 730. Therefore, for a successful HBS MBA application, it’s crucial to achieve higher than the median score.
Investigate external influences
Research on the HBS Website: Visit the Harvard Business School website to start your outside investigation.
Study the program you wish to apply for (2- year MBA, executive program, HBX, Doctoral programs).
Analyze the facts and stats, alumni, research, campus and culture of their MBA program.
Investigate the profiles of people who have been admitted to Harvard Business School on LinkedIn.
You might not experience the same level of fulfillment as those people. They have shown their profile more effectively than the majority of others, which explains why.
But even if you come across profiles of extraordinary people, just strive to outperform them. Starting is never too late.
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