M7 Business Schools: Rating of The Most Elite Business Schools in The World
The most elite business schools in the world are characterized not only by high education costs and lower admission rates, but also by the exceptional quality of the education and experience received, high employment rates, followed by excellent opportunities. So, let present the ranking of the most elite business schools in the world, namely M7 Business Schools. M7 is an informal network created by the deans of faculties of the best business schools, and the "M" stands for "magic" or "magnificent". The M7 list includes such business schools as:
- Harvard Business School;
- Stanford Graduate School of Business;
- Wharton School of the University of Pennsylvania;
- Columbia Business School;
- Northwestern University Kellogg School of Management;
- University of Chicago Booth School of Business;
- MIT Sloan School of Management. See Table 1 below for M7 Business Schools' place in Forbes' 2019 rankings (www.forbes.com)
| Rank | Schoool | Location | 5-Year MBA Gain | Years to Payback | Pre-MBA Salary | 2018 Salary | Tuition | GMAT |
|---|---|---|---|---|---|---|---|---|
| 1 | Chicago (Booth) | Chicago, IL | $94.4K | 3.9 | $83K | $245K | $149K | 730 |
| 2 | Stanford | Palo Alto, CA | $90.8K | 4.2 | $86K | $250K | $144K | 733 |
| 3 | Northwestern (Kellogg) | Evanston, IL | $89.6K | 3.9 | $76K | $215K | $150K | 740 |
| 4 | Harvard | Boston, MA | $86.5K | 4.1 | $88K | $230K | $158K | 732 |
| 5 | Pennsylvania (Wharton) | Philadelphia, PA | $84.7K | 4.1 | $92K | $230K | $158K | 732 |
| 6 | Columbia | New York, NY | $80.9K | 4.1 | $82K | $230K | $160K | 740 |
| 7 | MIT (Sloan) | Cambridge, MA | $80.9K | 4.1 | $80K | $215K | $154K | 730 |
As mentioned above, elite business schools are characterized by high employment rates, according
to QS World University
Rankings: Global MBA Rankings 2021, the M7 Business Schools ranking in terms of employability is
as follows
(www.topuniversities.com):
#1 - Stanford Graduate School of Business – 98.3%;
#2 - Wharton School of the University of Pennsylvania – 98.1%;
#3 - MIT Sloan School of Management – 97.5% and Northwestern University Kellogg School of
Management – 97.5%;
#4 - Harvard Business School – 97.2%;
#8 - Columbia Business School – 96.1%;
#11 - University of Chicago Booth School of Business – 95.1%;
By discipline and specialization of MBA programs, the M7 ranking is as follows:
Accounting:
#1 - Northwestern University Kellogg School of Management;
#3 - Wharton School of the University of Pennsylvania;
#5 - University of Chicago Booth School of Business.
Business Intelligence:
#1 - MIT Sloan School of Management;
#3 - Wharton School of the University of Pennsylvania;
#6 - University of Chicago Booth School of Business.
Finance:
#1 - Wharton School of the University of Pennsylvania;
#2 - University of Chicago Booth School of Business;
#4 - Columbia Business School;
#6 - Stanford Graduate School of Business.
Entrepreneurship:
#2 - Stanford Graduate School of Business;
#3 - MIT Sloan School of Management;
#5 - Harvard Business School;
#6 - Wharton School of the University of Pennsylvania.
Marketing:
#1 - Northwestern University Kellogg School of Management;
#2 - Wharton School of the University of Pennsylvania;
#3 - Stanford Graduate School of Business;
#6 - Harvard Business School;
#7 - Columbia Business School and University of Chicago Booth School of Business.
***
The high cost of MBA programs at M7 Business Schools can be a deterrent for many. The choice is defined by capabilities, abilities and desire of applicants, someone makes a choice in favor of "M7 or Nothing", someone makes a choice in favor of other B-Schools beyond M7, offering good programs, but the fact remains, the list of M7 remains unchanged, having created an informal network they work together to improve the quality of business education and take first places in the ratings.