M7 Business Schools [2024] - Rankings, Acceptance Rate

Recruiters across the globe seek graduates from these schools! They're none other than the students of the globally renowned ‘magnificent seven’ or M7 business schools. Boston Consulting Group, Bain and Co., McKinsey and Co., and many more hunt for their employees from M7 MBA schools. 

Warren Buffet, Elon Musk, Steve Bannon, and others are just a few household names holding prestigious MBA degrees from M7 schools. Every entrepreneur and business enthusiast would want to join the esteemed network.

That being said, every year, lakhs of students dream of becoming a part of the full-time MBA programs of these elite schools. But only a few turn their dreams to reality. 

This is because these colleges are strict with their acceptance rates. The average range of the acceptance rates swings between 6%-26%, which varies based on the number of incoming students globally for each course. 

Keep reading to know about their tuition fees, programs, class profile, salary, and reputed alums of these excellent institutions!

What are M7 Business Schools & Their Significance?

The M7 business schools are magic. Literally! 

A long time ago, deans of top business schools convened a secret meeting and decided to combine their schools into a cluster of seven. That's how M7 MBA schools came into existence. 

Quick note, these are self-proclaimed groups. They haven’t been made official. 

If you’re still wondering ‘What are M7 business schools?’, here’s the list to make it easy for you: 

• Stanford Business School
• Harvard Business School 
• Wharton School of Business 
• Columbia Business University 
• MIT Sloan Business School 
• North-western Kellogg School of Business 
• Booth Business School 

You'll be surprised to know that the M7 schools have remained the same since their origin. So, unlike other groups, they do not change ranking. 

The close-knitted M7 group conducts multiple meetings throughout the year to enhance its curriculum, academic output, and other processes. The meets are in the form of a private session which includes members from marketing, admission departments, vice deans, directors, and others. 

M7 Business Schools- Popular MBA Programs and their Cost Of Attendance 

The elite M7 business schools are the dream of many. However, the cost of attendance is not easy on the pocket. On average, people spend USD 229000 to complete a 2-year Master of Business Administration program. 

Here’s a brief overview of the fees structure of M7 MBA programs for your consideration:

Source: University official website

Note: Some institutions levy pre-term fees in their program's tuition costs. Due to the same, the first-year tuition fee varies from the second year's costs. 

M7 Business Schools- Ranking by Specialization 

Granted, all the M7 MBA programs are magnificent, but some are more lucrative than others. If you are considering a master’s degree from M7 schools, getting admission to these programs must be your top priority. 

According to QS MBA by Career Specialization Rankings of 2023, here're the most sought-after programs in M7 MBA schools and their ranking for your perusal: 

M7 Business Schools- Class Profile 

From an increase in women scholars to international applicants, the M7 MBA schools observe a change in their class profile every year. Some institutions saw a drastic rise in a segment, while others witnessed a drop due to pre-pandemic class strength. If you're interested in knowing which segment you’ll be a part of, here's a brief overview of the 2024 class profile of each of the magnificent seven. 

M7 Business Schools- Median Base Salary 

The average salary is the most exciting part of pursuing an MBA from M7 universities. Not only do they offer you the opportunities to become a part of the history makers, but they also ensure that you're paid enough. 

In general, the students can gain an average salary of USD 150000. On top of this, many students have reported getting signing bonuses of USD 30000 and more. 

For the students planning to receive their management degrees from M7 schools, here's a brief report on the average salary of each institute. 

M7 Business Schools- Alumni 

M7 MBA schools have one of the largest alumni networks, with approximately 460000 individuals having their names registered in these prestigious universities. Some of the most popular names from these acclaimed institutions include the following: 

• Vinod Khosla: Stanford Business School, Batch of 1980 (Tech Entrepreneur from Khosla Ventures) 
• Ratan Tata: Harvard Business School, Batch of 1975 (CEO of Tata Group)
• Anant Goel: Wharton School of Business, Batch of 2018 (Co-founder of MilkBasket) 
• Adi Godrej: MIT Sloan Business School, Batch of 1963 (Chairman of Godrej Group)
• Jordan Roth: Columbia Business University, Batch of 2009 (Co-owner of Jujamycn Theatres)
• Ted Philips: North-western Kellogg School of Business, Batch of 1989 (President and CEO of Chicago Bears)
• Joseph Neubauer: Booth Business School, Batch of 1965 (CEO and Chairman ARAMARK Corporation) 

Conclusion 

Whether it's academic excellence or a need for professional achievement, M7 business schools are the utopian dream of every MBA aspirant. To get admission to these institutions, it's important to know where you stand in terms of the cut-off and overall requirements. 

These institutions are the hallmark of brilliance in management studies. Not only do they offer exceptional opportunities after graduation, but they also offer immense peer-learning possibilities. 

Now that you know all about these prestigious and magnificent schools, it’s time to prepare all the necessary documents along with your academic certifications.