Elite M7 Business Schools List

Elite M7 Business Schools List

If you are only looking for a quick answer, let’s address the basic questions first. What is the meaning of M7 business schools? Which bschools make up the list?

M7 is a term used to refer to an informal group of 7 top business schools. Here’s the elite M7 business schools list:

  • Harvard Business School
  • University of Pennsylvania – Wharton School of Business
  • Stanford Graduate School of Business
  • University of Chicago Booth School of Business
  • MIT Sloan School of Management
  • Columbia Business School
  • Northwestern Kellogg School of Management

While we are on the topic, and you have a little more time and curiosity, let’s put up a few more related questions:

– What is the relevance of M7 business schools? Is it another MBA ranking?
– How is the M7 different from the ivy league?
– Should you have an M7 or nothing application strategy?
– What sets the M7 MBA programs apart from the other top universities?

We’ll address these in the following sections.
 

M7 business schools – Another ranking?

Across the world, the top MBA programs see a huge number of applications each year, while the number of seats remain more or less the same. That is why these schools have such low acceptance rates. But that doesn’t dampen the interest levels of MBA aspirants who wish to join the best and most reputed business schools in the world.

This brings up another challenge. How do you define the best business schools?

A popular approach is to refer to the various MBA rankings published by the familiar names in the business – Financial Times, BusinessWeek, Economist, US News among others. But there are issues that come with them.

The first set of issues is related to the ranking methodology. We won’t get into the details of this (since it’s a topic we’ve covered in another blog post). In short, it has to do with the fact that each ranking uses a fixed set of parameters and tries to squeeze in every participating school into that ranking framework.

If you ignore all of that and decide to go ahead with one of these business school rankings, the other practical issue that comes up is how the hell do you choose from a list of 100 MBA colleges that are included in that ranking?

This is where candidates start getting creative. Based on the strength of their profiles, they target a subset from that list. That’s how you get the Top 10, Top 25 and Top 50.

Another problem. These lists (including the smaller sets) aren’t permanent. There’s a constant churn in what you’d call a Top 10 bschool since the rankings change each year.

What if you consider yourself extra special vis-a-vis the other applicants? These generic labels of Top X programs cease to sound invigorating enough to get you working on their long-drawn application processes.

The M7 fills that gap.

It is not a ranking. It hasn’t been created by any publication or by applicants. The M7 is a self-selected group of business schools created with the purpose of collaborating closely. Key members including the deans, admission officers, career teams meet regularly to share knowledge, experiences and wisdom.

The list does not change from year to year. And unlike the ivy league university list which refers to 9 American universities, the M7 is the only fixed list of (you guessed it) American business schools. So much for a modern, globally inclusive concept!

Whether it stands for the Magnificient 7 or the Magic 7 or something else is anybody’s guess (nothing official about it, remember?).
 

Is graduating from an M7 school worth it?

Sure, it is. The reason these bschools have chosen each other in the almost secretive group is because they consider the others in the group members to be as good as they are. P&Q has an in-depth article on M7 statistics.

However, if you were to go with an M7-or-nothing application strategy, you may be giving the group a little too much credit than you should.

By virtue of being a very small group, the M7 excludes more good schools than it admits. Among those are Dartmouth Tuck, Duke Fuqua, Cornell Johnson, UCLA Anderson, Darden, Michigan Ross, NYU Stern, UC Berkeley Haas, Yale SOM.

There are many MBA programs that do not figure in the M7 list, yet they can be a great option if your career objectives fall in sync with the program strengths. If you were to have a look at US News’ specialty ranking, you’d discover that Babson is well-known for entrepreneurship; Tepper ranks high for information systems; similarly Smeal and Broad figure among the top for supply chain and logistics.

While these names may not be considered in the super-elite list, they may offer you bigger scholarships and you may still get into many of the top companies you had on your wishlist.

So, it’s worthwhile considering a program based on its merits and what it has to offer instead of just focussing on the labels and rankings or going by public perception.
 

M7 program fees

The program fee is another aspect to consider. The staggering cost of an MBA from an M7 school may sometimes be a deterrent to many applicants. The total costs involved including the tuition fees and cost of living can go very high in the range of $180,000 to $200,000. These schools do offer scholarships to some of the admitted students. But while applying, you cannot go in with the assumption that you’ll get a scholarship when you aren’t even sure of an admit.

Finally, before investing your time and money, spend some time researching the programs that can provide you with a good ROI. Though the M7 MBA salary may be higher and these programs may help you land the top jobs in areas related to finance, consulting or private equity, there are other good programs outside the M7 that can provide you with comparable salaries and an equally great ROI.

So, you need to keep your options open and not be overly obsessed about getting into an M7 school. Just being an M7 school doesn’t make it the best school that will meet your career requirements. Have a more practical approach and choose a school that’s the right fit for you based on the parameters that matter most to you.

Go ahead and create your own Fantastic 4, Sadistic 6 or the Naughty 9 list of schools to apply to. If they can keep it informal and secretive, so can you.

Here’s some more information on how you should select business schools.


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MBA Crystal Ball provides professional Admissions Consulting services. Hire us to improve your chances of getting into the top international universities. Email: info [at] mbacrystalball [dot] com

Sameer Kamat //
Sameer Kamat

Founder of MBA Crystal Ball. Author of Beyond The MBA Hype & Business Doctors. Here’s more about me. Connect with me on Google+ | Twitter | Facebook | Linkedin

6 Comments

  1. Vishwaja G. Bichu says:

    My daughter Ms.Vishwaja G. Bichu had uploaded her profile on your site some days back to get a free profile evaluation done. She wants professional Admissions Consulting .Could you please share details of requirements (fees etc.) needed and oblige.

  2. rajeev kumar says:

    In Harvard or Stanford school for MBA in finance without experience can join or not
    Actually my daughter is studying in bcom hons from shri Ram college delhi
    If she secured 8.6 cgp in bcom hons
    In 10 the she got 10 cgp +2 she got 96.8
    She will write good eassy also
    Is she get admission in Harvard or Stanford for mba

  3. Sameer Kamat says:

    @Vishwaja: We responded on the same day. We haven’t heard back from your daughter.

    @Rajeev: All the top MBA programs expect applicants to have several years of work experience, so they can appreciate and absorb what’s taught in the class. It would be a bad idea to push her to apply when she’s not ready for such an intense and enriching experience.

  4. Gautham Madhu says:

    Dear Sir,

    I am an Engineering graduate with 9 months internship and 8 months full time work experience and look to have almost secured a seat in a Tire-2 Business school in India. My passion is marketing. Is there a one year management program I can consider after working for 2 years after the MBA I am starting in June 2017 ?

    Which means,

    I will finish my MBA in tire-2 Business School in India by 2019 June
    Will work for 2 years from 2019 June in the area of Marketing
    Then try for a one year program with a leading B-school in Europe or North America – Preferably in the area of Strategic Managemsnt?

    Kind Regards,
    Gautham

  5. Swetha says:

    Hello Sameer,

    Will career opportunities drastically change if i don’t attend M7 schools? Personally, I want to get into consulting. When I look at Kellogg’s employment report, I see greater number of students getting into top tier firms (MBB) than students from Fuqua/Ross. That being said, I think schools can only provide interview opportunity at these firms and it is upto us to make use of that.
    Do you think it is reasonable to reapply next year to a M7 school when I already have an admit from Fuqua/Ross ? A part of me wants to attend an ultra elite school and the other part says that Fuqua/Ross will provide me with similar opportunities. What is your take on this?
    On a different note, do you think the quality of student body differs drastically between Kellogg and Fuqua?

  6. Sameer Kamat says:

    @Gautham: Two years of experience would be low for European 1 year programs. Why assume that your first MBA is a waste of time even before you’ve started it? Try to get into a marketing role after you finish it and try to build your skills, rather than assuming another MBA will make it easier (it won’t).

    @Swetha: Congrats on getting a top bschool admit! You are right in saying that Kellogg feeds more students than the others into the consulting industry.

    But I don’t think the quality of students across the top programs vary so much. It’s more a subjective choice of what the admission officers are looking for at that stage for their class mix, and not so much about the capability of the applicant to become a consultant.

    You’ll find Ross/Duke also in the list of top consulting MBA programs. http://www.mbacrystalball.com/blog/2012/11/10/best-bschools-for-consultant-jobs/

    Go ahead and take up the option you have in hand, rather than losing a whole year and chasing another brand that seems shinier from the outside.

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