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Have you ever considered what makes an MBA at Harvard unique or different? The reason is HBS's prestige and the high salaries that its graduates get! In this blog, we will explore the Harvard MBA Salary the graduates earn. We will get to know how much they earn in different industries and locations around the globe.
A Snapshot of Harvard MBA Salary
Understanding the average Harvard MBA salary in different sectors can provide valuable insights for aspiring graduates and industry professionals. The following table highlights the median base salary across key sectors:
| Sector | 25th Percentile Base | Median | 75th Percentile Base | Top Companies Hiring |
|---|---|---|---|---|
| Consulting | USD 190,000 | USD 192,000 | USD 192,000 | Deloitte, Boston Consulting Group, McKinsey & Company |
| Investment Banking | USD 175,000 | USD 175,000 | USD 175,000 | Goldman Sachs Group, Inc., Morgan Stanley, JPMorgan Chase & Co. |
| Investment Management / Hedge Fund | USD 160,000 | USD 175,000 | USD 200,000 | BlackRock, Fidelity Investments, Capital Group |
| Private Equity | USD 160,000 | USD 185,000 | USD 220,000 | TPG Global, Blackstone, Carlyle Group |
| Venture Capital | USD 153,000 | USD 175,000 | USD 200,000 | Bessemer Venture Partners, Insight Partners, General Catalyst |
| Technology | USD 143,000 | USD 158,000 | USD 172,000 | Amazon, Google, Apple Inc. |
Average Harvard MBA Salary
The average salary for Harvard MBA graduates of class 2023 is USD 175,000.
Harvard MBA program graduates earn around USD 150,000 to USD 200,000 or more. Some graduates pursue careers in high-paying fields like finance and consulting. While others choose paths in entrepreneurship, technology, healthcare, or other industries.
Exploring the Harvard MBA Salary of Different Sectors
Harvard MBA graduate salaries vary based on negotiation skills and specific job roles. When considering an MBA program like HBS, you should research salary data specific to your career goals and target industries.
1. Trends of Hiring in Consulting
Harvard Business School (HBS) graduates are often in high demand within the consulting industry. Consulting firms recognize the exceptional problem-solving and strategic skills that HBS imparts to its students. As a result, the median salary for HBS graduates entering consulting roles typically starts at USD 190,000.
These competitive salaries reflect the value that consulting firms place on the analytical, communication, and leadership abilities of HBS alumni. With their solid foundation in business principles and a knack for creative problem-solving, HBS graduates are well-equipped to thrive in the fast-paced consulting world.
2. Trends of Hiring in Finance
Harvard Business School careers focusing in finance have the opportunity to secure substantial compensation packages. Starting salaries in investment banking range from USD 150,000 to USD 175,000. Those venturing into private equity can expect even higher salaries, typically from USD 180,000 to USD 200,000.
HBS funds present diverse compensation structures, but many HBS graduates in this field find salaries exceeding USD 200,000. Asset management roles also offer competitive compensation, generally around USD 150,000 to USD 170,000 or more.
3. Trends of Hiring in Technology
Technology is a dynamic and rapidly evolving field that highly values the skills and innovation that HBS graduates bring. Product management roles in the technology sector offer starting salaries ranging from USD 140,000 to USD 160,000 or more. Technology consulting positions, which require a blend of business acumen and technical expertise, typically come with starting salaries of USD 150,000 to USD 170,000 or higher.
Technology companies eager to attract HBS graduates for leadership roles offer competitive compensation packages that reflect the value placed on their strategic thinking and ability to drive innovation. HBS alumni find themselves well-positioned to lead in the ever-expanding world of technology and its impact on industries worldwide.
Harvard MBA Salary Across Different Locations
The salary of Harvard MBA graduates can vary significantly depending on the location of their employment. Factors such as the cost of living, industry concentration, and regional demand for MBA talent all influence the salaries in different locations. Here's a general overview of how salaries for Harvard MBA graduates can vary across different locations:
North America
Harvard MBA graduates in North America typically earn competitive salaries three years after graduation. On average, salaries for graduates in this region can range from around USD 155,000 to USD 192,000 or more. The high concentration of finance, consulting, technology, and healthcare industries contributes to these robust salary figures.
East Coast (e.g., New York City, Boston)
In cities like New York City and Boston, Harvard MBA graduates working on the East Coast often enjoy some of the highest salaries. These urban centers house numerous finance, consulting, and technology firms. As a result, it's not uncommon for graduates to earn starting salaries exceeding USD 180,000 in these locations.
West Coast (e.g., San Francisco, Silicon Valley, Los Angeles)
The West Coast, known for its technology and startup hubs, offers competitive compensation to Harvard MBA graduates. In cities like San Francisco and Silicon Valley, average salaries can range from USD 145,000 to USD 185,000, particularly in technology and entrepreneurial roles.
International (various cities worldwide)
Harvard MBA program graduates working internationally find diverse salary ranges based on their location. Major financial centers like London and Hong Kong often provide competitive salaries for finance and consulting roles. In emerging markets or regions with lower living costs, salaries may be lower but still attractive, averaging around USD 130,000 or more.
| Location | Median Base Salary | |
|---|---|---|
| Mid-Atlantic (US) | 25th Percentile Base | USD 147,000 |
| Median | USD 175,000 | |
| 75th Percentile Base | USD 192,000 | |
| Midwest (US) | 25th Percentile Base | USD 139,000 |
| Median | USD 188,000 | |
| 75th Percentile Base | USD 192,000 | |
| Northeast (US) | 25th Percentile Base | USD 155,000 |
| Median | USD 180,000 | |
| 75th Percentile Base | USD 192,000 | |
| South (US) | 25th Percentile Base | USD 151,000 |
| Median | USD 192,000 | |
| 75th Percentile Base | USD 192,000 | |
| Southwest (US) | 25th Percentile Base | USD 159,000 |
| Median | USD 190,000 | |
| 75th Percentile Base | USD 192,000 | |
| West (US) | 25th Percentile Base | USD 145,000 |
| Median | USD 170,000 | |
| 75th Percentile Base | USD 185,000 |
Job Placement Records
Harvard Business School boasts an impressive job placement record, as highlighted by recent HBS employment data. Within three months of graduating, 86% of students secure at least one job offer, demonstrating the school's effectiveness in preparing its graduates for the workforce.
This statistic not only reflects the school's high caliber of education and networking opportunities but also its dedication to ensuring ample job opportunities for its students. Furthermore, the fact that 80% of students received job offers during this period underscores Harvard Business School's commitment to their success in securing employment.
Related Blog:
- Harvard MBA GMAT & Class Profile Requirements
- Is Harvard MBA Worth the Investment?
- Harvard MBA Fees: Program Cost, Financial Aids, ROI & More
- Harvard MBA Interview Questions and Answers
Conclusion
The Harvard MBA program, a top-tier choice among MBA colleges in USA, offers significant returns on investment, particularly when considering the Harvard MBA salary. Graduates are well-known for commanding some of the highest compensation packages in various industries and locations worldwide. If you're exploring options for an MBA, Harvard not only provides excellent career growth opportunities but also a notable increase in earning potential.
