Hi Raxit85,
Thanks for writing in. It sounds like you have a lot of experience....I'm wondering why you are thinking about getting an MBA and why now. A PhD and an MBA are two pretty different paths. I'm not sure what a PhD in management would lead to, but I'm guessing it would be a more academic/teaching outcome, whereas a regular MBA would be more of a management role. So - knowing your goals would be important for your first question. Also - normally, when you approach about 10 years of experience at matriculation, schools tend to recommend that you look at their Executive MBA or Part-Time programs because the cohort of peers is more appropriate for your experience level.
As for the best schools, that's going to depend both on your above answer (what do you want to do - and also where), plus your qualifications including your improved GMAT score. So - too early to say/we don't have enough information. Once you get your score and figure out what type of program you want and where you want to do it (there are MBA programs around the world of different lengths and costs), then you can begin to form a list of reach, target and safety.
I don't have full information on your profile as I mentioned above, but I'd recommend looking beyond the HBS MBA/MS program to consider other schools, as I think that Harvard will be a big reach for you (as it is for most people). It's new and small, and I don't believe they separately break out the stats for this program vs. the usual program, but you can look at the typical MBA profile there for a general sense. But generally, Harvard looks for exceptional leadership, blue chip firms, high scores, and high grades from elite programs (there of course are exceptions and they also look for variety of perspectives, but overall, it's highly selective, as you might expect). I'm not sure about your full stats, but the 470 is concerning, and I think your years of experience will also be too much. For alternatives, I'd do some selective searching online with biotech MBA, but without an updated GMAT and more info on where you're going, it's a little hard to recommend programs. I do notice that Johns Hopkins has an MBA/Masters program in Biotech with Carey and Krieger...so you might start there.
Good luck!
Julie-Anne Heafey
Senior Consultant
mbaMission