Harvard is one of the best universities in the world, with perhaps the most recognizable name out of the esteemed Ivy League institutions. Harvard Business School is a key driver of the university’s accolades. HBS alumni include CEOs of Fortune 500 companies, global political leaders, ground-breaking entrepreneurs, famous scholars, and much more. Their achievements represent the unparalleled legacy of Harvard Business School and its MBA graduates. The Harvard Business School employment report explains where MBAs get their start after their time along the Charles River in Boston.
The employment report provides everything you need to know about HBS MBA graduates including average salaries, popular industries and companies, employment location demographics, and more. The report – not surprisingly - shows its MBAs consistently landing highly lucrative job offers.
For more information and an overview, see our directory listing for the school. In this article, we’ll be covering HBS MBA salary and employment data.
Table of Contents:
- Harvard Business School Salary & Employment Data
- Companies Typically Hiring Harvard Business School MBAs
- Average Harvard Business School MBA Salary
- Average Harvard Business School MBA Salary By Region
- Harvard Business School MBA Signing Bonus
- Summary & Conclusion
Harvard Business School Salary & Employment Data
The annual Employment Report is an excellent tool to help prospective MBAs decide if HBS is right for them. Along with career path data, the employment report includes Harvard Business School average salary for recent MBA graduates and other salary statistics.
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Popular Industries for Harvard Business School MBAs
The HBS MBA industries list shows a proclivity for consulting, finance, and technology amongst graduates. Check out the list below*:
- Consulting (23%)
- Technology (19%)
- Private Equity (14%)
- Investment Banking/ Hedge Fund (8%)
- Venture Capital (7%)
- Health Care (6%)
- Manufacturing (4%)
- Investment Banking (4%)
- Consumer Products (3%)
- Nonprofit/Government (3%)
- Entertainment/Media (3%)
- Services (3%)
*8% started their own business. This is a particularly high percentage relative to other top MBA programs. The Harvard network is a powerful force in helping alumni and even current students launch new ventures.
Companies Typically Hiring Harvard Business School MBAs
It comes as no surprise that top companies across many business sectors are employing Harvard MBAs. Companies hiring HBS MBAs are among some of the most recognizable and include:
- Amazon
- McKinsey
- Bain
- Boston Consulting Group
- The Blackstone Group
- Capital One
- Deloitte
- IBM
- Bank of America
- Citadel
- See the full list here
For prospective MBAs pursuing a career in management consulting, HBS has a compelling track record. Top consulting firms routinely hire Harvard MBAs. If you’re looking to break into consulting, we can help. Get details about our consulting prep programs here.
Average Harvard Business School MBA Salary
While tuition costs for a Harvard MBA are high, graduates can expect to reap the rewards of their education quickly. The Harvard Business School average salary for MBA graduates is $151,000.
What is the average salary for grads going into consulting? For Harvard MBA graduates entering consulting, the average salary is $165,000. Our consulting salaries report provides up-to-date salary information based on hundreds of fresh offer letters each year.
Average Harvard Business School MBA Salary By Region
The average HBS salary by region shows a considerable amount of variation across the U.S. and other continents. Overall, the average salary of HBS graduates ranges from $123,000-$165,000. The data below shows the percentage of 2021 MBAs in each region and their corresponding salary averages.
United States (87%): $158,000
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- Mid-Atlantic (4%): $155,000
- Midwest (3%) : $150,000
- Northeast (49%): $160,000
- South (3%): $165,000
- Southwest (5%): $165,000
- West (22%): $150,000
International (13%)
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- Canada (1%): $129,000
- Asia (4%): $123,000
- Europe (6%): $131,000
Harvard Business School MBA Signing Bonus
The median Harvard Business School MBA signing bonus was $30,000 for the Class of 2021. 51% of 2021 MBA graduates reported a signing bonus, with variations by industry. Consultants reported an average of $30,000, with 81% receiving a bonus. The highest signing bonus went to graduates in Investment Banking and Investment Management/ Hedge Fund positions, with an average signing bonus of $50,000. 89% and 50% graduates in Investment Banking and Investment Management/ Hedge Fund positions respectively reported a signing bonus.
HBS Employment Report Summary
The HBS Employment Report shows MBAs finding lucrative careers across many different industries. The data below shows the next steps for the MBA class of 2021.
- 74% Sought Employment
- 96% Received an Offer
- 92% Accepted an Offer
- 23% Did not Seek Employment
- 12% Company Sponsored or Already Employed
- 8% Starting Own Business
- 3% Other
- Median Base Salary: $151,000
The 2021 report shows a 6% increase in job offers and a 9% increase in job offers accepted compared to the 2020 report. The full 2021 Report can be found here.
Conclusion
Harvard Business School’s elite reputation is supported by another strong employment report. See more information on HBS here, and work with our expert team at Management Consulted to prepare your resume, personal statement, and other essays for MBA applications.
Additional Resources:
- MBA Directory
- Top 25 Consulting Firms
- Top 10 Boutique Consulting Firms in US
- Consulting Resume: Complete Guide
- Case Interview: Complete Prep Guide