The term “Ivy League” is most commonly used to describe some of the most prestigious higher education universities in the United States. There are eight Ivy League schools that are primarily located in the Northeastern part of the US. But how are they different from M7 business schools?
Known for their academic rigor and highly selective admissions, the reason behind grouping eight schools as Ivy league is quite surprising. Here is the list of Ivy League schools/universities:
- Columbia University
- Cornell University
- Brown University
- Harvard University
- Dartmouth College
- Princeton University
- University of Pennsylvania
- Yale University
In this article, we look at whether these universities offer an MBA program, and if they do, what is their program rankings, career outcomes, cost, and scholarship options.
Ivy League Schools
The Ivy League is an American intercollegiate athletic conference of which eight schools are part of, and more than 8,000 student-athletes compete each year.
These eight schools share a rich history of success and influence in college athletics, dating back to the origins of intercollegiate competitions.
Let us look at the MBA programs these eight schools offer. The table below represents the Ivy League schools with their MBA Class size 2024, duration, cost, and average GMAT score and salary:
|Ivy League schools||MBA Class Size||Duration||Average GMAT Score Incoming Class||Location||Average Salary Base Salary (Class 2022)||MBA Cost of attendance (1 year)|
|Columbia University – Columbia Business School||844||2 years||729||New York||$150,000||$81,374|
|Cornell University – Johnson College of Business||303||2 Years||710||Ithaca||$155,048||$87,606|
|Brown University – IE Business School Executive MBA||30||15 Months||NA||Providence||NA||$141,500 (15 months)|
|Harvard University- Harvard Business School||1015||2 years||730||Cambridge||$175,000||$81,374|
|Dartmouth College – Tuck||287||2 years||726||Hanover||$150,000||$87,612|
|Princeton University||Does not have an MBA Program|
|University of Pennsylvania – Wharton School of Business||856||2 years||732||Philadelphia||$175,000||$95,681|
|Yale University – SoM||350||2 years||723||New Haven||$160,000||$82,700|
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From the table above, six out of eight schools offer a full-time MBA program, which is for two-years.
Brown University offers an Executive MBA joint degree with IE Business school. The program format is for 15 months of online and face-to-face learning. IE Brown Executive MBA is for mid-career professionals that integrates an innovative management curriculum with liberal arts and humanities.
On the other hand, Princeton University does not offer an MBA program and is more focused on its undergraduate degrees.
In this article, we cover only those business schools that offer a full-time MBA program.
Cost of Ivy League Schools MBA Program
Amongst the six business schools that offer a full-time MBA program, Wharton and Harvard MBA graduates 2022 earned the highest average base salary of $175,000.
The cost of Ivy League schools MBA program can range from $81,000 – $96,000 per year, whereas the MBA salary, can range from $150,000-$175,000.
|Ivy League Business School||Average Salary||Cost of Attendance (1 year)|
|Harvard Business School||$175,000||$81,374|
|Columbia Business School||$150,000||$81,374|
|Wharton Business School||$175,000||$95,681|
|Johnson College of Business||$155,048||$87,606|
Here is an article on how to get into top business schools like Harvard and Wharton.
GMAT Score for MBA program
The average GMAT score for the six ivy league schools that offer a full-time MBA program is between 710-732.
When it comes to class size, we see three business schools – Wharton, Harvard, and Columbia have more than 700 MBA cohort. Whereas Dartmouth Tuck MBA and Cornell Johnson MBA programs have almost similar class sizes.
Here is a list of articles that will help you determine a good GMAT score for:
Ivy league schools rankings
In this section, we look at the full-time MBA program ranking at Ivy League schools. Only six b-schools are included in the list, as Brown and Princeton University does not offer a full-time MBA program.
Wharton Business School ranks #1 in US News ranking 2023, and Columbia Business School ranks #1 in FT Global MBA.
Read this article to know the business school ranking significance and Methodology.
Based on the average ranking, we can rank these business schools as:
|Ivy League Schools ranking for MBA program|
|1.||Wharton Business School|
|2.||Harvard Business School|
|3.||Columbia Business School|
|5.||Johnson College of Business|
Career Outcome: Full-Time MBA
In this section, we look at the percentage of MBA graduates in 2022 employed in various industries for the six business schools.
|Business School Career Outcome||Average Salary||Singing Bonus||Majority of MBA Class placed in Industry|
|Wharton Business School||$175,000||NA||Financial Services|
|Harvard Business School||$175,000||$30,000||Financial Services|
|Columbia Business School||$150,000||$30,000||Financial Services|
|Yale SoM||$160,000||$30,000||Financial Services|
|Dartmouth Tuck||$175,000||$30,000||Financial Services|
|Johnson Cornell||$155,048||$38,310||Financial Services|
Here are the best business schools for Consulting, Finance, Human Resource, Business Analytics, Operations, Entrepreneurship, Energy, Marketing, and Supply Chain Management.
Wharton Business School – Employment by Industry
Harvard Business School – Employment Report by Industry
Yale SoM – Employment by Industry
Dartmouth Tuck – Employment by Industry MBA
Cornell Johnson MBA – Employment by Industry
To get admission into the above mentioned business school, you need a good GMAT score. Start your GMAT Preparation by signing up for our FREE Trial today! We are the most reviewed GMAT Preparation company with more than 2500 reviews on GMATClub.
Getting into these six business schools is tough, which is evident from the acceptance rate. The acceptance rate is the ratio of the number of admissions offers made by the business school and the total number of applications.
Harvard MBA has the lowest acceptance rate at 9.90%, followed by Columbia at 16.50%, and Yale SoM at 17.40%.
The below table presents the acceptance rate for the full-time MBA class of 2019:
|Ivy League Schools – MBA program||Acceptance Rate|
|Wharton Business School||19.20%|
|Harvard Business School||9.90%|
|Columbia Business School||16.50%|
Check out the acceptance rate for other top business schools here.
There are various types of MBA scholarships that are offered to Indian, International, and other students at Ivy League schools such as Merit-based, Need-based, Diversity, and Gender-based, External scholarships. However, the type and the amount of scholarship can differ from each business school.
Harvard MBA Scholarships are offered based on financial need, and they do not offer merit-based scholarships. It is a gift that does not need to be paid back, and nearly 50% of the class receives it. The average need-based scholarship amount for the Harvard MBA program is $40,000 per year or $80,000 in total.
Check out the other types of financial aid offered at Harvard Business School.
On the other hand, Yale SoM, Cornell Johnson, Columbia, and Dartmouth Tuck provides merit-based scholarships to its students.
For example, Tuck admissions and financial aid officer awards scholarships to incoming students who will significantly contribute to Tuck’s distinctly immersive learning community. It offers scholarships to enroll outstanding students who lack funding to come to Tuck School of Business. The average scholarship amount at Tuck is $26,415.
Fellowship programs and Other Aid
Many fellowship programs are also offered to students. For example, the Wharton MBA program provides a broad range of fellowship opportunities based on your application for admissions. Criteria for fellowship includes your academic achievements, community involvement, professional development, and personal qualities and background. Here is the link for Wharton fellowship programs.
Learn more about the types of other financial aid available and how to get a scholarship for an MBA.
Apart from need-based and merit-based scholarships, there are gender-based and external scholarships that are also offered.
Click on the link below to go to the official scholarship and Financial Aid page of the business school: Wharton MBA Financial Aid, Dartmouth Tuck MBA Scholarships, Harvard Business School MBA Scholarships, Yale SoM, Columbia Business School, and Johnson Cornell.
To get admission into an Ivy League business school, you need a good GMAT score. Start your GMAT Preparation by signing up for our FREE Trial today! We are the most reviewed GMAT Preparation company with more than 1950 reviews on GMATClub.
Ivy League Schools vs. M7 business schools
One of the key differences between an Ivy league and M7 business school is the way they have been grouped.
The reason behind grouping eight schools as Ivy league schools is because of the internal rivalries between them over sports. For example, Harvard and Cornell have been hockey rivals for many years. Similarly, Harvard and Penn have been football rivals.
Apart from sports, these eight Business schools have other rivalries. Most of the time, these rivalries are arguments in terms of which school offers the most prestigious scholarships, the famous graduates that have come from each school, and which school is more exclusive than others.
On the other hand, years ago, the dean of the seven most influential private business schools got together to create an informal network known as M7. At their biannual private sessions, the seven business schools rotate hosting duties, discuss best practices, trade gossip, and whatever topical issues end up on the agenda.
Harvard, Columbia, and Wharton business schools are included in both Ivy school and M7 b-school list. However, Chicago Booth, Northwestern Kellogg, MIT Sloan, and Stanford GSB are not included in the list.
Another thing to note is that Ivy league schools consist of eight elite schools, out of which only seven offer an MBA program.
|Ivy League Business Schools||M7 Business Schools|
|Harvard Business School|
|Columbia Business School|
|Wharton Business School|
|Johnson College of Business||Chicago Booth|
|IE Brown Executive MBA||MIT Sloan|
|Yale SoM||Stanford GSB|
|Dartmouth Tuck||Northwestern Kellogg|
Check out in detail our article on M7 Business schools and their significance.
FAQs – Ivy League Schools
There are eight elite schools that are grouped as Ivy League schools.
Yes. The average acceptance rate for Ivy League schools full time MBA program is 19.31%.
The average GMAT score for the six Ivy league business schools that offer a full-time MBA program is between 710 – 732.
No. Stanford University is not an Ivy League school because it is not a member of the Ivy League.
Here is a guideline on how to get into Stanford.