What Is An M7 MBA?
More than just a name, the “magnificent” or “magic” M7 are a group of seven leading US business schools.
The M7 MBA programs are among the best in the world in terms of research, ranking, teaching and career outcomes. And M7 isn't just an informal term for these schools - they do actually meet twice a year to share insights, discuss learnings, and try to forecast what the future holds for business education.
Here's all you need to know about M7 MBAs.
What is an M7 MBA?
The M7 network was formed by the Deans of seven of the top business schools in the USA. They are:
- Harvard Business School
- Columbia Business School
- The Wharton School of the University of Pennsylvania
- University of Chicago’s Booth School of Business
- MIT Sloan School of Management
- Stanford Graduate School of Business
- Northwestern University’s Kellogg School of Management.
An M7 MBA is simply a Master of Business Administration offered by one of these top American business schools.
What makes an M7 MBA special?
While rankings aren't everything, they can give you a good idea of which MBAs are considered to offer the best experience for students. And the M7 MBAs consistently feature at the top of every major ranking.
For example, in the 2024 U.S. News Best Business Schools Ranking, M7 MBAs take up seven of the top 12 spots. In the 2024 Bloomberg Businessweek Ranking, all seven appear in the top 17. It's a similar story in the QS and Fortune rankings.
In fact, at least one M7 MBA features in the top two of every major MBA ranking.
But that's not the only reason why they're so special. M7 MBA programs can also count on:
- World-leading research
- Famous professors
- Some of the highest MBA graduate salaries in the world, with Stanford (US$250,000) the highest of any school
- Famous alumni including Sundar Pichai (CEO of Alphabet and Google), George W. Bush (Former President of the United States), Sheryl Sandberg (Former CEO of Meta), Michael Bloomberg (CEO of Bloomberg LP), and Rishi Sunak (Former Prime Minister of the United Kingdom)
“The best MBA programs help students build a more global viewpoint and digital mindset, and work in a more agile way,” she explains.
M7 MBA admissions
Yet perhaps the most notable feature of an M7 MBA is their low acceptance rate. They are highly competitive, highly selective programs who only admit the best and brightest business minds from around the world.
The M7 schools are all among the top 10 hardest business schools to get into, with acceptance rates ranging from 33% at Kellogg to just 8.4% at Stanford - making it the most competitive MBA in the world.
But that doesn't mean you have no chance of getting admitted. Stacy Blackman, from MBA admissions consulting firm Stacy Blackman Consulting, emphasizes that the M7 schools approach the application review process holistically.
“MBA programs are looking for more than a “perfect on paper” candidate," she says. "Resilience, grit, proven collaboration, and work experience with promotions are critical indicators of success within a program."
So it’s not all about the grades. To win a place at one of these M7 MBA programs, you need to be a well-rounded candidate with some work experience under your belt and a passion to learn everything there is to know about business.
How much does an M7 MBA cost?
According to the BusinessBecause Cost of MBA Report 2024, the average total cost of an M7 MBA is US$249,684. That figure includes tuition fees as well as associated costs such as healthcare, accommodation, and other additional fees.
Stanford is the most expensive M7 MBA, with a total cost of over US$260,000 over the two years. The most affordable of the seven is Kellogg School of Management - though the total costs still come in at almost US$240,000.
That being said, you shouldn’t let the cost of an M7 MBA put you off. M7 business schools offer generous MBA scholarships and most students will gets some form of financial aid. For instance, at Harvard every MBA student is automatically considered for a scholarship and around 50 percent of the class receives one.
There's also the question of ROI. Although an M7 MBA will cost upwards of $240,000, the strong ROI of these programs means they're likely to pay themselves back within a few years of graduation.
Choosing an M7 MBA
It's worth remembering that while M7 MBAs are among the best in the world, there are still plenty of high-quality programs that are not part of the M7. And you shouldn't choose an MBA purely for its M7 prestige.
“The program’s location should also influence your decision," advises Stacy. "Geography is key, especially for international candidates, but also US candidates. Post-MBA career preferences should drive location choices."
Even when choosing between M7 business schools, know that each program offers something different that may or may not complement your profile and ambitions.
Pursuing an MBA is a major life decision. Read our article '10 Reasons Why An MBA Degree Could Be For You' to discover if it's the right choice for you.