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Harvard MBA vs MIT Sloan MBA

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Harvard MBA vs MIT Sloan MBA  [#permalink]

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New post 07 Nov 2018, 11:47
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Harvard MBA vs MIT Sloan MBA



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This comparison is done as part of the project wSTAT. For more Business school comparisons, check wSTAT


Learnings



  • 1. The application process is almost the same for both Harvard and MIT except that Harvard requires 1 essay and MIT requires a cover letter and 1-minute video statement. So, the average number of days to work on the application should be approximately the same.
  • 2. Harvard requires TOEFL/IELTS/PTE for international applicants. MIT doesn’t require any English assessment exam.
  • 3. The acceptance rate of MIT Sloan(11.6%) is slightly higher than Harvard(9.4%)
  • 4. The average indebtedness of full-time students at MIT Sloan($109,891) is considerably higher than Harvard($87,300).
  • 5. We observed that while the fellowships at Harvard are need based, the fellowships at MIT are merit-based.
  • 6. We observed that there are considerably a lot of Fellowship options available at MIT Sloan and to different nationalities. Refer http://mitsloan.mit.edu/mba/admissions/ ... resources/
  • 7. For the 2017 class profile, the undergrad majors composition for Harvard and MIT are very similar
  • 8. Considerably less number of nationalities represented at MIT compared to Harvard.
  • 9. We observed that MIT graduates locate across united states fairly equally while Harvard graduates are most likely to locate to the Northeast United States.


Note Please reply on this topic if you find any new learnings that we might have missed from the following comparisons


Comparison


1) Application process


Application process
HarvardMIT Sloan
Round 1 Deadline - NotificationSep 5th 2018 - Dec 11th 2018Sep 25th 2018 - Dec 19th 2018
Round 2 Deadline - NotificationJan 4th 2019 - Mar 26th 2019Jan 22nd 2019 - Apr 2nd 2019
Round 3 Deadline - NotificationNot ApplicableApr 8th 2019 - May 8th 2019
A 4-year undergraduate degree or its equivalentRequiredRequired.
GPANo minimum GPANo minimum GPA
Number of Letters of reference22
Number of Essays10 (If invited, an applicant need to submit an essay)
Cover letter and a video statementNot RequiredRequired
ResumeRequiredRequired
Application fee$250$250


ExamHarvardMIT Sloan
GMATAccepted.
No minimum requirement
Accepted.
No minimum requirement
GMAT Range610-800
Median 730
700-760 (middle 80%)
Average 728
GREAccepted.
No minimum requirement
Accepted.
No minimum requirement
GRE Verbal Range147-170154-169 (middle 80%)
GRE Quant Range151-170158-169 (middle 80%)
GRE or GMATdo not have a bias toward one test or the other
85% of the class reported GMAT
15% of the class reported GRE
no preference for one test over the other
18% of the class reported GRE scores
TOEFL or IELTS or PTERequired for students who did not attend an undergraduate institution where the sole language of instruction is EnglishNot required
TOEFL iBT minimum score requirementHBS does not have a minimum TOEFL to apply, however, the MBA Admissions Board discourages any candidate with a TOEFL score lower than 109 on the IBT from applyingTOEFL is not required
TOEFL iBT Range and AverageNot AvailableTOEFL is not required
IELTS minimum scoreThe MBA Admissions Board discourages any candidate with an IELTS score lower than 7.5 from applyingIELTS is not required
PTE minimum scoreThe MBA Admissions Board discourages any candidate with a PTE score lower than 75 from applying.PTE is not required

2) Financials


Financials
HarvardMIT Sloan
Tuition(1 year)$73,440$74,200
Cost of Attendance
  • Single $109,124
  • Married $126,928
  • Married with one child $142,318
  • Married with two children $151,128
Information not available


3) Financial Aid


Financial Aid
HarvardMIT Sloan
Summer StipendsYes. Funds students pursuing an internship in arts & culture, community development, education, environment, human services, international relief, nonprofit consulting, government, and other social enterprises.Yes. MIT provides funding to a limited number of MBA students taking on important societal challenges during their summer internship period.
Tuition assistance.HBS Fellowships are entirely need based, with the majority of fellowships in the $30,000–$50,000 range.MIT Sloan matriculates the most promising MBA candidates regardless of financial circumstances. After acceptance, each incoming student begins the three-tiered financial aid process
Tuition assistance.50% of HBS students are eligible for need based aid.No such info available
Full-Tuition FellowshipsPlease search on HBS website
  • FUNDACIÓN GONDRA BARANDIARÁN(Awarded to 2 spanish nationals)
  • MIT-CHINA SCHOLARSHIP COUNCIL FELLOWSHIP (CSC) PROGRAM
  • EDUARDA JUSTO FOUNDATION
  • FULBRIGHT NEW ZEALAND GRADUATE AWARDS
  • MOHAMMED BIN RASHID AL MAKTOUM FELLOWSHIPS(Awarded to nationals of the 22-member countries of the League of Arab States)
External scholarship limit so that Fellowship amount will not be reduced$30,000Not applicable
Average student loan at the time of graduation$87,000$109,891
Africa FellowshipGlobal Opportunity Fellowship(GO:AfricaInformation not available


4) Class profile


class profile
HarvardMIT Sloan
Total applicants98865798
Class size930409
Acceptance rate9.4%11.6%
Women41%42%
International37%38%
U.S. Minority26%22.8%
Average GPA3.713.48
Undergrad Majors Humanities and social sciences17%14%
Undergrad Majors STEM37%40%
Undergrad Majors Economics and Business46%41%
From U.S. Institutions134NA
From Non U.S. Institutions154NA
Countries represented6949
Average age2728
Average years of work experience4.54.9


5) Pre MBA Industry


Pre MBA Industry
HarvardMIT Sloan
Consulting16%21%
Governement/Education/Non-profit8%14%
Military5%NA
Venture capital/Private equity16%NA
High Tech / communications16%18%
Financial services11%19%
Clean Tech/Energy6%7%
Industrial/Heavy manufacturing4%8%
Consumer products and services6%5%
Health care7%6%


6) Post MBA career(Class of 2017)


Post MBA career
HarvardMIT Sloan
Size937416
Median base salary$135,000$128,301(average)
Median signing bonus$25,000$27,872(average)
Median other guaranteed compensation$25,000$28,116(average)
Job offers95% received job offer84.2% of students received a job offer at graduation. 93.9% received job offer in 3 months after graduation.


6.1) Post MBA career(Industry destination)


Industry destination
HarvardMIT Sloan
Technology16%NA
Finance31%NA
Consulting23%24.7%


6.2) Post MBA location


Post MBA location
HarvardMIT Sloan
Western United States25%27%
Northeast United States44%29%
International13%10%


7) Ranking


Ranking
HarvardMIT Sloan
GMAT Club user rating4.8 out of 5 (23 reviews)4.7 out of 5 (26 reviews)
U.S.News ranking in Best business school#1#5
U.S.News ranking in Supply chain/logistics#21#2
U.S.News ranking in Management#1#16
U.S.News ranking in International#2#17
U.S.News ranking in production/operations#9#1

* U.S.News ranking in the remaining sub categories are approximately the same.

Source: The above data has been collected from websites of Harvard Business school and MIT Sloan business school.
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Re: Harvard MBA vs MIT Sloan MBA  [#permalink]

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New post 16 Dec 2018, 03:28
I acknowledge the hard-work you put in to compile this data.

I may be too critical but the only useful things I saw in this post are about the Financials of the Schools namely - Cost of Attendance, Tuition Assistance (the $ Amount), Need Based/Merit Based, and External scholarship limit so that Fellowship amount will not be reduced.

Besides these, I didn't see how other parameters would tip the scales towards a school because these are Elite Schools and almost 90% of applicants do not even get in.
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Re: Harvard MBA vs MIT Sloan MBA  [#permalink]

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New post 16 Dec 2018, 03:56
Interesting. Are there students who typically try to make this call? From what I know, the programs are pretty different in make up of the student body and the experience.
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Re: Harvard MBA vs MIT Sloan MBA  [#permalink]

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New post 16 Dec 2018, 04:07
ArtichokePizza wrote:
Interesting. Are there students who typically try to make this call? From what I know, the programs are pretty different in make up of the student body and the experience.


I'm not sure whether you are talking about me or the OP but you are right in talking about the Program Experience. I was also hoping to see the differences in Experience of these programs like - HBS - Case Study Only or Life at HBS v/s Life at MIT..
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My CR notes - https://gmatclub.com/forum/patterns-in-cr-questions-243450.html

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Re: Harvard MBA vs MIT Sloan MBA  [#permalink]

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New post 16 Dec 2018, 04:08
umg wrote:
ArtichokePizza wrote:
Interesting. Are there students who typically try to make this call? From what I know, the programs are pretty different in make up of the student body and the experience.


I'm not sure whether you are talking about me or the OP but you are right in talking about the Program Experience. I was also hoping to see the differences in Experience of these programs like - HBS - Case Study Only or Life at HBS v/s Life at MIT..


To the OP
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Harvard MBA vs MIT Sloan MBA  [#permalink]

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New post 24 Dec 2018, 13:13
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I think this video discussion gives some good insight: https://www.youtube.com/watch?v=W7ZcvrJr_ko
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Harvard MBA vs MIT Sloan MBA &nbs [#permalink] 24 Dec 2018, 13:13
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