There are more than a thousand MBA programs in the US.
So what makes the M7 business schools—Stanford Graduate School of Business, Harvard Business School, MIT Sloan School of Management, Northwestern Kellogg School of Management, Wharton School of the University of Pennsylvania, University of Chicago’s Booth School of Business, and Columbia Business School—so special?
Well, apart from having extremely selective MBA admissions requirements, these “magnificent” or “magic” seven business schools guarantee students:
A top-notch education in business administration
Access to some of the most influential professors in the field
Promising opportunities to network with impressive peers and alumni
Enticing post-graduate employment prospects
And a lot more! But…
The M7 business schools aren’t the only ones offering worthwhile MBA programs. So, should you really stress about getting into one of the M7 schools? What about the T15 and T20 business schools?
In this blog post, we’ll help you answer those questions by looking into:
How the M7 business schools maintain this elite distinction
The M7 admissions and post-graduate employment statistics, including average GMAT scores for admitted applicants, the annual costs of attendance, and median starting salaries for MBA graduates
The business schools that didn’t make the M7 cut but still consistently rank as T15 or T20 business schools
Why traditional university rankings aren’t always a good indicator of which schools you should apply to
Let’s begin!
TABLE OF CONTENTS
(click to skip ahead)- What are the M7 business schools?
- Stanford Graduate School of Business
- Stanford GSB quick facts
- Harvard Business School
- Harvard Business School quick facts
- MIT Sloan School of Management
- MIT Sloan quick facts
- Northwestern Kellogg School of Management
- Northwestern Kellogg quick facts
- Wharton School of the University of Pennsylvania
- UPenn Wharton quick facts
- University of Chicago’s Booth School of Business
- UChicago Booth quick facts
- Columbia Business School
- Columbia Business quick facts
- T15 business schools
- T20 business schools
- Business school rankings vs fit
- Final Thoughts
What are the M7 business schools
The M7 business schools are:
Stanford Graduate School of Business
Harvard Business School
MIT Sloan
Northwestern University's Kellogg School of Management
University of Pennsylvania's Wharton School
UChicago Booth
Columbia Business School
The M7 never change—while these are all highly regarded business schools, the M7 isn’t based on rankings directly (unlike the T15 and T20 business schools—more on those below). What gives the M7 business schools their reputation for being a cut above the rest? Among other things, the deans of these schools have regular meetings to facilitate the continuous exchange of insights and information to elevate the quality of their MBA programs collectively.
While each M7 school maintains its distinct strengths, the history of collaboration, shared values, and ongoing communication among deans and admissions professionals contribute significantly to their collective reputation.
Here’s a breakdown of the latest admissions statistics and post-graduate employment data from each of the M7 business schools.
Stanford Graduate School of Business
Stanford GSB is well-known for its unparalleled MBA experience. Students can expect an intimate learning environment, personalized coaching, a curriculum taught by global business experts, and opportunities for interdisciplinary learning by drawing on resources from all of Stanford University’s world-class schools.
However, it's one of the hardest business schools to gain admission to for a reason. Stanford GSB is highly selective, seeking individuals with not just academic prowess but a demonstrated impact and potential to make a difference in the world.
Stanford GSB quick facts
| Category | Result |
|---|---|
| Class Size | 431 |
| % of Women Students | 46% |
| % of International Students | 36% |
| % of US Students of Color | 50% |
| Annual Cost of Attendance | $126,465 |
| Acceptance Rate | 6.9% |
| Average GMAT Score | 738 |
| Average GMAT Score | 164 Verbal; 164 Quantitative |
| Average Undergrad GPA | 3.77 |
| Average Years of Work Experience | 5 Years |
| Median Starting Salary After Graduation | $175,000 |
Harvard Business School
Harvard Business School (HBS) is renowned for its transformative curriculum. Students hone general management and leadership skills through case-based learning, immersing themselves in real-world decision-making scenarios.
The case method, a cornerstone at HBS, lets students walk in the shoes of business leaders, preparing them for impactful leadership. Graduating from HBS means being equipped to make impactful decisions as a global leader.
Harvard Business School quick facts
| Category | Result |
|---|---|
| Class Size | 938 |
| % of Women Students | 45% |
| % of International Students | 39% |
| % of US Students of Color | 49% |
| Annual Cost of Attendance | $115,638 |
| Acceptance Rate | 11.5% |
| Average GMAT Score | 740 |
| Average GMAT Score | 163 Verbal; 163 Quantitative |
| Average Undergrad GPA | 73 |
| Average Years of Work Experience | 4.9 Years |
| Median Starting Salary After Graduation | $175,000 |
MIT Sloan School of Management
MIT Sloan School of Management stands out for its commitment to innovation and impact. With a focus on tackling real-world challenges, Sloan’s MBA program blends intellectual rigor with experiential learning. Students benefit from hands-on learning, global experiences, and a relentless focus on making a difference.
As part of a leading research institution, MIT Sloan engages the brightest minds in addressing global issues at the intersection of business and technology. As such, it’s one of the hardest MBA programs to get into.
MIT Sloan quick facts
| Category | Result |
|---|---|
| Class Size | 409 |
| % of Women Students | 46% |
| % of International Students | 40% |
| % of US Students of Color | 56% |
| Annual Cost of Attendance | $125,489 |
| Acceptance Rate | N/A |
| Median GMAT Score | 730 |
| Median GMAT Score | 155-167 Verbal; 157-168 Quantitative |
| Median Undergrad GPA | 3.61 |
| Average Years Work Experience | 5 Years |
| Median Starting Salary After Graduation | $165,000 |
Northwestern Kellogg School of Management
Kellogg School of Management distinguishes itself through diverse learning options tailored to individual goals. Experiential learning, involving faculty, alumni, and corporate partners, immerses students in real-world problem-solving scenarios. With over 1,000 experiential opportunities, you can choose projects that resonate with you.
Kellogg's thought leadership model also encourages cross-disciplinary problem-solving, preparing students for the complex challenges of today's business landscape. The global curriculum, including travel experiences to nearly 70 countries, cultivates a deep understanding of international business and cultural diversity, making Kellogg a unique choice for aspiring leaders.
Northwestern Kellogg quick facts
| Category | Result |
|---|---|
| Class Size | 529 |
| % of Women Students | 48% |
| % of International Students | 39% |
| % of US Students of Color | 42% |
| Annual Cost of Attendance | $120,432-$199,073 |
| Acceptance Rate | N/A |
| Median GMAT Score | 740 |
| Median GMAT Score | 163 Verbal; 163 Quantitative |
| Average Undergrad GPA | 3.7 |
| Average Years of Work Experience | 5 Years |
| Average Starting Salary After Graduation | $164,000 |
Wharton School of the Unversity of Pennsylvania
The MBA program at the Wharton School is renowned for its unique blend of depth and flexibility. The cross-functional core curriculum provides essential business skills, complemented by majors and electives for specialization.
Beyond academics, Wharton prioritizes building a cohesive student community. Their cluster system divides each MBA class into four clusters, each fostering a unique culture, community, and support system. Within these clusters, students further connect with smaller cohorts. The aim is to create diverse groups with varied skill sets, leadership styles, and personal and professional backgrounds.
UPenn Wharton quick facts
| Category | Result |
|---|---|
| Class Size | 874 |
| % of Women Students | 50% |
| % of International Students | 31% |
| % of US Students of Color | 41% |
| Annual Cost of Attendance | $122,476-$124,476 |
| Acceptance Rate | 14.1% |
| Average GMAT Score | 728 |
| Average GMAT Score | 162 Verbal; 162 Quantitative |
| Average Undergrad GPA | 3.6 |
| Average Years of Work Experience | 5 Years |
| Median Starting Salary After Graduation | $175,000 |
University of Chicago's Booth School of Business
At Chicago Booth, intellectual freedom reigns in a collaborative community across campuses in Chicago, London, and Hong Kong. The MBA curriculum focuses on exploring bold ideas, honing analytical thinking, and solving complex problems.
With a commitment to turning ideas into meaningful impact, Booth provides a transformative education led by some of the world's best business faculty. The Chicago Approach™, an analytical style of education, ensures students emerge as global leaders with support from an influential alumni network.
UChicago Booth quick facts
| Category | Result |
|---|---|
| Class Size | 657 |
| % of Women Students | 42% |
| % of International Students | 36% |
| % of US Students of Color | 49.2% |
| Annual Cost of Attendance | $122,160-$153,755 |
| Acceptance Rate | 15.7% |
| Average GMAT Score | 728 |
| Average GMAT Score | 162 Verbal; 163 Quantitative |
| Average Undergrad GPA | 3.6 |
| Average Years of Work Experience | 5 Years |
| Median Starting Salary After Graduation | $175,000 |
Columbia Business School
Columbia Business School stands out for its dynamic curriculum at the forefront of innovation. With a deep connection to the business world, it evolves alongside industry shifts, offering programs in digital transformation, entrepreneurship, and finance.
Columbia's commitment to societal impact is also evident in courses exploring the interface between business and society. With STEM-designated programs, cross-disciplinary collaboration, and a commitment to diversity, Columbia Business School also shapes leaders with a value-driven focus.
Columbia Business quick facts
| Category | Result |
|---|---|
| Class Size | 844 |
| % of Women Students | 44% |
| % of International Students | 51% |
| % of US Students of Color | 42% |
| Annual Cost of Attendance | $127,058 |
| Acceptance Rate | 22% |
| Average GMAT Score | 729 |
| Median GMAT Score | N/A |
| Average Undergrad GPA | 3.6 |
| Average Years of Work Experience | 5 Years |
| Median Starting Salary After Graduation | $175,000 |
T15 Business Schools
"T15" refers to the top 15 business schools. Unlike the M7 discussed above, which do not change, the specific schools included in the T15 can vary year to year (though they are remarkably consistent).
In addition to the M7 business schools, the following business schools are in the T15 according to the latest U.S. News and World Reports:
Tuck School of Business at Dartmouth College
Stephen M. Ross School of Business at University of Michigan—Ann Arbor
School of Management at Yale University
Leonard N. Stern School of Business at New York University
Fuqua School of Business at Duke University
Haas School of Business at the University of California, Berkeley
Darden School of Business at the University of Virginia
Samuel Curtis Johnson Graduate School of Management at Cornell University
Marshall School of Business at the University of Southern California
T20 Business Schools
"T20" refers to the top 20 business schools. Similar to T15, specific schools included in the T20 may vary depending on the ranking or source.
In addition to the M7 and T15 business schools, the following business schools are in the T20 according to the latest U.S. News and World Reports:
Goizueta Business School at Emory University
Tepper School of Business at Carnegie Mellon University
Anderson School of Management at University of California—Los Angeles
McCombs School of Business at University of Texas—Austin
Michael G. Foster School of Business at the University of Washington
Business school rankings vs. fit
Business school rankings can provide valuable insights into overall program quality, faculty, and alumni success. However, they may not capture the nuances of individual fit. It's essential to assess what you truly want to achieve with your MBA and how well a particular business school aligns with those objectives.
It’s important to understand that some companies generally only hire graduates from T20 schools. If your objective is to work for one of those companies, then rankings will matter in your case.
But ideally, your professional aspirations, preferred learning style, and the type of networking opportunities you seek should guide your decision-making process. Consideration of factors like program structure, teaching methodologies, industry connections, and geographical location is also crucial.
Ultimately, the best business school for you is the one that aligns with your unique goals and values. Take the time to explore each school's offerings, connect with current students and alumni, and consider how the culture and resources of each institution resonate with your aspirations, rather than only relying on ranking systems.
With that approach, you can ensure that your MBA experience is not only academically enriching but also personally fulfilling and tailored to your long-term success.
Final Thoughts
Choosing the right business school involves more than just relying on rankings, even when considering prestigious groups like the M7.
If you’re an aspiring MBA candidate, you should consider various factors, including your career goals, program offerings, and overall fit with the business schools you apply to.
If you're looking for additional resources to help you with your MBA applications, we recommend speaking with our graduate school admissions consultants. We can help you craft a strong personal statement and navigate the MBA application process.
So, why wait? Schedule a consultation and begin taking the next step toward getting your MBA!
Special thanks to Ameer for writing this blog post
Ameer is a freelance writer who specializes in writing about college admissions and career development. Prior to freelancing, Ameer worked for three years as a college admissions consultant at a Hong Kong-based education center, helping local high school students prepare and apply for top colleges and universities in the US. He has a B.A. in Latin American Studies from the University of Chicago and an M.A. in Spanish Linguistics from UCLA. When he’s not working, Ameer loves traveling, weight lifting, writing, reading, and learning foreign languages. He currently lives in Bangkok, Thailand.
Top values: Growth / Diversity / Empathy
