Average Harvard MBA salary by location
Overview
Like many US MBA programs, the Harvard MBA is dominated by domestic students. In the current class, 63% of students are from the USA, with 41% of those being US minorities.
In addition to this already domestic-focused cohort, US salaries are a strong incentive for international students. Median base salaries in 2021 were $150k – significantly higher than the median base salaries of students who went abroad who earned a still impressive median base salary of $128k.
Strong salary potential likely contributes to the high number of students who settle in the US post-graduation: 87% of the 2021 cohort took up roles in the United States.
USA
Within the US, just under half of grads settled in the Northeast. Here, salaries were above the cohort’s average, at $160k, with signing and performance bonuses of $30k and $41k.
Among those who settled in the Northeast: 31% of students moved to New York, where median performance bonuses climbed as high as $81k, and 11% remained in Boston, with slightly lower median base salaries of $159k.
Just over a fifth of grads settled in the west, and 13% in the Bay Area where salaries were higher, with a median base of $165k. The highest salaries among US-based Harvard MBA grads were found in the South and Southwest, where salaries averaged out at $165k a year. Perhaps surprisingly, only a combined 8% of students settled in those areas.
Europe
The second most popular destination; 6% of Harvard MBA grads flocked to Europe, with most choosing the UK.
Salaries in the UK came in at a median base of $135k, substantially lower than the US. But there were enormous performance bonuses to be found in the UK, reaching as high as $105k—enough to put you within the 98th percentile of earners in Britain.
Asia
Outside of Europe, 4% of graduates settled in Asia, with landing roles in India. Salaries across Asia were lower than their counterparts in the US or Europe, though still comfortably in the six figures: $123k in the continent at large and $111k in India.
Average Harvard MBA Salary by...
How To Apply: Harvard MBA
Clearly, an MBA from Harvard Business School is a strong indicator of financial success. That’s partly why it’s one of the toughest MBA programs to get into: out of over 9000 applications received, just 1010 students made it into the class of 2023.
But the HBS admissions team advises to put your best foot forward, despite the strong competition.
“We don’t want anyone to take themselves out of the process by not applying,” says Chad Losee, a HBS admissions director and MBA alum. “I remember feeling like it was a long shot when I applied, but I’m so glad I took the shot!”
To have the best chance of success, Chad advises not to focus too hard on any one part of the application, and instead make sure you communicate the impact you can have to the admissions team.
Successfully applying could help you unlock a range of opportunities and land you a top job, with the Harvard MBA salary to match.
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