School v. School: Harvard Business School or MIT Sloan?
When selecting an MBA program, it can be difficult to cut through the fog to make the best long-term decision. For elite schools, the veil of prestige casts a long shadow. For lesser-known schools, it’s often a question of how much bang you’re getting for your buck. Allow our School v. School series to do the heavy lifting for you and present an in-depth comparison. Let’s consider the distinctions between Boston’s best: Harvard Business School and MIT Sloan.
Harvard Business School
Located in the Allston neighborhood of Boston, Harvard Business School’s 40-acre campus is “the only top business school in the United States with a self-contained, residential campus,” steps away from the downtown area of the city. HBS is famously one of the first MBA programs in the world. It also boasts one of the largest total student populations, with a grand total of 1,871 enrolled students.
HBS Full-Time MBA
For many, HBS is the crème de la crème of MBA programs. U.S. News and World Report ranks it as the best in the country. HBS offers only one type of MBA degree: full-time. The program lasts a typical two years, with the first summer break reserved for an internship or internships. Due to the large student body, incoming students are divided into groups of 90 who will take the same coursework for a year’s time. Each segment represents the diversity of the incoming class.
Why HBS?
- The FIELD Foundations program (Field Immersion Experience for Leadership Development) helps students develop an awareness of their leadership styles by interacting with their “team” through intimate workshops. The program, which intends to build emotional intelligence, is unique for its personalized approach to business training.
- The Case Method was first established as the primary method of instruction at HBS, and many students cite it as a highlight of their time at HBS. The Case Method puts students in the position of the decision makers by presenting scenarios written by HBS staff themselves.
- HBS offers six joint degree options for students looking to expand into additional fields, such as law, medicine, and engineering.
- HBS routinely tops MIT when it comes to domestic and global MBA rankings.
Harvard vs. MIT MBA Rankings
| Harvard Business School | MIT Sloan School of Management | |
|---|---|---|
| U.S. News & World Report (U.S.) | 1 | 4 |
| The Economist (Global) | 3 | 19 |
| Financial Times (Global) | 5 | 9 |
| Forbes (U.S.) | 3 | 8 |
| Bloomberg Businessweek (U.S.) | 1 | 3 |
What Is Missing?
- There’s a hefty price tag for a HBS education: estimated at $106,800 annually, including tuition, room and board, materials, and healthcare.
- Outside of the U.Ss, starting salaries for international positions tend to be lower, despite Harvard’s reputation in the States.
- Harvard’s employment rate after graduation trails slightly behind MIT: 91 percent vs. MIT’s 93 percent.
- Out of 273 faculty members at HBS, only 70 are women; about 25 percent.
MIT Sloan School of Management
Situated in nearby Cambridge, the Sloan School of Management campus is “surrounded by biotech companies, tech giants, startups, and research labs.” MIT Sloan has a compact center for its MBA students, which revolves around a newly built facility called E62. Here, you’ll find the entire faculty and most academic programs. Its population of full-time MBA students hovers around 800, while 500 additional students are completing alternative post-baccalaureate business degrees.
Sloan School of Management Programs
Unlike HBS, MIT Sloan offers three kinds of MBA programs: the two-year, full-time MBA degree; 20-month Executive degree; and 12-month Sloan Fellows Program. The full-time MBA degree stands out for its Sloan Innovation Period (SIP), a full-immersion learning experience that occurs in the middle of each semester. Students take a week-long hiatus from classes to attend lectures, travel abroad, visit host companies, and more.
Why Sloan?
- The Global Entrepreneurship Lab is one opportunity that MBA students shouldn’t miss. Students act as advisors for start-up companies in markets around the world, delivering insight on topics such as “strategic growth, new market entry, pricing, marketing, benchmarking, fundraising, and financial strategy.”
- The Leaders for Global Operations caters to students interested in a dual degree in Engineering and Business. This two-year curriculum “places students in research internships at elite partner companies.”
- Sloan’s MBA class is made up of a larger international student base compared to Harvard; 39 percent, as opposed to 35 percent at HBS. This isn’t a significant gap, but it does show MIT’s commitment to diversity.
What Is Missing?
- According to Forbes, Sloan has a lower median base salary after graduation at $125,000. HBS grads average around $135,000.
- Unlike the HBS environment, not all students on campus are earning full-time MBA degrees. If you’re someone who enjoys working with the same student body throughout your degree, prepare for a bit more cross-section here.
- The current tuition and full cost for the MIT Sloan MBA is slightly higher than HBS (regarding non-married single students with no children).
Harvard vs. MIT MBA Cost
| Harvard Business School | MIT Sloan School of Management | |
|---|---|---|
| Tuition | $73,440 | $74,200 |
| Full-Cost | $109,124 | $111,570 |
When all is said and done, both MBAs are extremely cutting-edge programs that any ambitious prospective b-schooler would salivate over. Both Harvard and MIT offer a similar urban setting, as they exist in the same tightly packed university community in Boston. Additionally, both have the same acceptance rate (11 percent). For a final push, be sure to read up on faculty leading the way both at Harvard and MIT.
The Next Big MBA Career: Global Supply Chain Management
It’s no secret that the world of business is global, fast-paced, and dependent on the movement of goods from one location to another.
As these given features of the business world continue to become more pronounced, those who prefer their “i’s” dotted and “t’s” crossed have started taking their rightful places in boardrooms. Supply chain managers, once considered a secondary or tertiary level of management, have risen to the executive level. In the process, they have become one of the most interesting and lucrative positions in business today.
In a U.S. News article quoting John Fowler, Professor of Supply Chain Management (SCM) in the W.P. Carey School of Business at Arizona State University, he assuredly states that “the average starting salary for our full time MBAs with a specialization in Supply Chain Management was almost $96,000, with a couple of students in the $120K range.” The question remains, though: what exactly does a supply chain manager do?
Supply Chain Management
What’s most interesting about a supply chain manager position is how it has changed over the years— as J. Paul Dittman writes in Supply Chain Management Review, “Ten years ago, the supply chain leader … was a largely functional role that relied on technical proficiency in discrete areas: knowledge of shipping routes, familiarity with warehousing equipment and distribution-center locations and footprints, and a solid grasp of freight rates and fuel costs.”
And while a supply chain manager must remain on top of such functional knowledge today, the position has become infinitely more demanding, with the supply chain manager dealing with processes, inputs, and outputs both upstream and downstream in the creation of a finished product. Thus, supply chain managers must orient themselves toward traditional logistical concerns, but also concerns about raw materials, manufacturing systems, procurements, and marketing/sales. At its heart, the supply chain management position is holistic and complex, and demands a lot from whoever fills it.
Skills Necessary to Succeed in Global Supply Chain Management
While professionals in the global supply chain management field must hone various skills depending on their companies’ needs, the following are some necessary skills for anyone wanting to get into SCM:
- Thinking Globally: Supply chains are increasingly multinational in scope, and so the global supply chain management professional must have deep knowledge of suppliers and customers that span continents.
- Work Sustainably: As sustainable processes become more profitable and more consumers become aware of corporate environmental practices, it is increasingly paramount for SCM professionals to foster and commit to sustainability both upstream and downstream, particularly in the gathering of raw materials.
- Lead Effectively: As SCM positions become more central to organizational leadership structures, the need for charismatic, savvy, friendly, and collaboratively-minded individuals in such positions grows—and the need for such individuals to be able to work cross-company and cross-industry grows, too.
- Have a Tireless Work Ethic: As the demands of the global economy never sleep, SCM professionals should expect to work anywhere between 55 and 80 hours per week, though be compensated handsomely for such non-traditional hours.
The Best Supply Chain Management MBA Programs
There are many wonderful programs in supply chain management, but the following are three of the best, according to U.S. News rankings.
- Michigan State Broad: Eli Broad’s Masters in Supply Chain Management (MSSCM) is a unique program, as it combines onsite courses and learning with online modules, allowing for a more seamless integration of SCM principles into already-existing work schedules and professional commitments.
- MIT Sloan: the Leaders for Global Operations MBA/MS track is among the most elite SCM programs offered, with a defined track for those students who wish to delve deeper into SCM. Companies in the Boston area clamor for students to work on global supply networks after graduation.
- ASU Carey: The W. P. Carey Master of Science in Global Logistics (MS-GL) degree is a nine-month program that prepares those interested in SCM for the complex world of global operations and multicultural perspectives.
What are the Greenest Business Schools in the U.S.?
Earlier this month, the Global Hub at Northwestern’s Kellogg School of Management earned LEED (Leadership in Energy and Environmental Design) Platinum certification, becoming only the second building on the Northwestern campus to earn the U.S. Green Building Council’s highest green building rating.
The 415,000-square-foot Global Hub, which opened in March 2017, was designed with a low carbon footprint in mind. It is the largest of Northwestern’s 12 LEED-certified buildings. “Achieving LEED Platinum certification for the Global Hub underscores Kellogg’s strong commitment to sustainability,” Kellogg Chief Operating Officer William Garrett said in a press release. “A world-class facility demands world-class practices, and the Global Hub checks all of the boxes: It minimizes its carbon footprint, is comfortable and healthy for its occupants, and encourages collaboration and a sense of community.”
The building is a marvel of modern architecture and design. It taps into geothermal energy systems underneath the ground for efficient heating and cooling and uses nearly 6,000 fixtures of LED lighting to reduce energy use. The building also has an advanced ventilation system to circulate fresh ar and uses daylight sensors to minimize the need for artificial lighting.
Overall, the Global Hub earned 85 out of a possible 110 points on the LEED scale, including:
- 26 out of 35 points for energy and atmosphere,
- 7 out of 14 points for materials and resources,
- 8 out of 10 points for water efficiency,
- 23 out of 26 points for location,
- 11 out of 15 points for indoor environmental quality, and
- 10 out of 10 points for the design process and regional priority categories.
“We are proud to have successfully integrated best-in-class sustainability with a stunning architectural design, proving that excellence in design and sustainability are not mutually exclusive,” said Bonnie Humphrey, director of design for facilities.
Of course, Kellogg isn’t the only business school to embrace environmentally conscious building practices for its new facilities. It’s a practice we’re seeing across the board at various top schools.
For example, Harvard Business School has a Sustainability Plan that was adopted in October 2014 to reduce greenhouse gases, improve energy efficiency, reduce water usage and waste, and more. Already, the university has cut its greenhouse gas emissions by 49 percent, its energy use by 33 percent, and its water use by four percent.
MIT Sloan School of Management’s newest building, the Joan and William A Porter 1967 Center for Management Education, also known as E62, was designed with energy efficiency in mind as well. Among its sustainable features are light-sensitive window shades, a green roof, and an irrigation system that minimizes water use by responding to changes in weather.
And not to be left out, UC Berkeley’s Haas School of Business designed its recently constructed Chou Hall to become the nation’s greenest academic building. In addition to LEED Platinum certification, Chou Hall was designed to attain WELL certification, an added accolade given to buildings that promote user health and well-being. Toward this goal, its design includes rainwater cisterns and 24,300 square feet of exterior windows in addition to efficient heating, cooling, and lighting systems.
This article has been edited and republished with permissions from our sister site, Clear Admit.
2018 Trends: How Much Can You Get Out of a Boston MBA?
Boston, the largest city in New England, is often considered the academic, economic, and cultural center of the Northeastern United States. Beantown is also considered one of top college towns in the country thanks to its numerous esteem colleges and universities. Lots of that talent sticks too: Forbes ranks the city as one of the best places for business and careers. Continue reading…
Barack Obama to Speak at 12th Annual MIT Sloan Sports Analytics Conference
It was announced earlier this week that former U.S. President Barack Obama will be among the honorary speakers at this year’s MIT Sloan Sports Analytics Conference.
The 12th annual event arrives at the Boston Convention and Exhibition Center February 23 and 24. Alongside Obama, the highly publicized conference will feature some of the biggest names in the sports industry, including: former Microsoft CEO and Los Angeles Clippers owner Steve Ballmer, Major League Baseball commissioner Rob Manfred, National Hockey League commissioner Gary Bettman, National Basketball League commissioner Adam Silver, former professional athletes like Steve Nash and Alex Rodriguez, and Seattle Storm point guard and U.S. Olympian Sue Bird, among others.
Co-founded by MIT Sloan School of Management MBA graduate Daryl Morey, the current general manager of the Houston Rockets, and Kraft Analytics Group CEO Jessica Gelman in 2006, the annual conference has transformed into one of the most formative sports business events in the world. Since its inception, the event has spawned and popularized numerous movements in the industry, including basketball’s strategic revolution (they call it MoreyBall for a reason).
During his tenure in the White House, Obama’s sports fandom became a much-publicized part of his public persona, appearing on ESPN throughout his two terms to discuss the NCAA tournament, college football playoffs, and more.
.@BarackObama, the 44th President of the United States, will speak at @SloanSportsConf February 23. We are pleased to welcome President Barack Obama, a well-known sports fan. Visit https://t.co/2E9wO8Qo5K for more details #SSAC18 #analyzethis
— Sloan Sports Conf. (@SloanSportsConf) January 6, 2018
Obama will be speaking on the first day of the conference, Friday, February 23. Alongside the notable speakers, the conference features career help seminars, a case competition, an in-depth multi-day look into esports, a hackathon, and much more.
The MIT Sloan Analytics Conference website reads:
“At our roots, we are about education and our goal is to provide more opportunities for sharing industry successes, to create forums to discuss the most challenging topics of the day, and to continue identifying new ideas. As a conference we are firmly committed to innovation. Each year, we have added new elements to push the larger analytics conversation forward. Recent years have seen advances from the Research Paper competition started in 2010 to the popular and successful Hack-A-Thon, the introduction of an esports room, doubling the number of Competitive Advantage talks, expansion of the Startup Tradeshow competition, and introduction of industry-specific workshops. Despite our past successes, we firmly believe that the best is yet to come.”
Find out more information about the event and register today.
What Is Your 2018 MBA Resolution?
For those who aren’t in a post-New Years Eve hibernation, 2018 is here, and that means actually following through on all those promises you hastily made an hour before the year officially began—including your 2018 MBA resolution.
You and every other person in a five mile radius will pack your preferred gym for the next few weeks, dutifully following through on the promises they made themselves. And while the frustration of waiting, waiting, and still waiting for the bench press to open up is inevitably going to sit in, you still have an opportunity to utilize that newfound resolution energy into your MBA degree.
Start of this new year by forming productive habits, achievable goals, and a vision of where you want to end up! #MondayMotivation pic.twitter.com/igYQmNtI3C
— FOX MBA & MS (@FoxMBA) January 2, 2018
But, where do you start?
2018 MBA Resolution Baby Steps
Ordering a multi-thousand dollar exercise bike at the stroke of midnight might have been a more curious impulse, but there are plenty of non-expensive efforts you can make going into a brand new year.
The MIT Sloan School of Management revealed some of its favorite books from the previous year from its distinguished faculty and alumni, including the timely “The Power of Little Ideas: A Low Risk, High Reward Approach to Innovation,” by senior lecturer David Robertson. Which, in itself, can provide a powerful set of ideas to harness that newfound resolution energy.
Looking to up your tech-savvy skillset? Head over to Product Hunt, which provides an impossibly lengthy list of new apps and tools from startup companies that can do almost everything: from learning valuable developer tools to reforming your daily task routine.
Be Wary of Impossible Goals
According to Chicago Booth behavioral science experts, people don’t tend to follow through on grander resolutions.
“‘The problem with big resolutions is that motivation tends to wane over time,’ says Chicago Booth’s Ayelet Fishbach, who studies motivation and decision making. People start out strong, but then reality sets in as they realize it’s easier to set goals than to carry them out. ‘The problem with persisting is that our priorities change in the course of a day, a week, a year,’ says Fishbach. We may wake up in the morning determined to watch what we eat, but by the afternoon, we’re distracted—and start snacking again. Or we may feel determined to invest more time in relationships, but that slips our mind when an important work deadline looms. ‘Successful goal pursuit,’ she says, ‘requires employing strategies that keep us on track as our priorities momentarily shift away.'”
An important part of Fishbach’s research revealed that setting more frequently occurring goals is important to stay on track. This means, “Instead of an annual goal, set a monthly goal. Instead of weekly, make it daily.” When more smaller, reasonable projects are completed, the end goal is more probable. And the more probable a goal is, the greater the motivation, according to Booth marketing professor Oleg Urminsky.
“Proximity to the goal increases motivation. If you’re a rat in a maze, you run faster the closer you get to the end.”
Embrace The Eventual Setback
Anyone who has gone through a diet is more than likely familiar with the concept of a cheat day. While scouring cake one week into your shiny new diet may feel like a small failure, it doesn’t mean it’s time to give up.
According to marketing researchers Marissa A. Sharif and Suzanne B. Shu, authors of the 2017 study “The Benefits of Emergency Reserves: Greater Preference and Persistence for Goals That Have Slack with a Cost” in the Journal of Marketing Research, having a few “mulligan” occurrences is normal and should not deter your overall aim.
“What this suggests is that the perfect goal to set for yourself is probably a tough one but with the explicit allowance for a mulligan or two so you won’t be discouraged by the occasional slip up,” writes Washington Post reporter Katherine L. Milkman.
It’s Time To Go After That MBA
We at MetroMBA may be vocal advocates of an MBA, but numbers speak for themselves. MBA salaries at the top schools in the world hit a record high last year, according to the Financial Times, sitting at an eye-popping $142,000 USD average by the start of 2017—a $7,000 jump from the previous year.
Some of the world’s biggest companies, such as Amazon, are on MBA “hiring sprees” as it rapidly expands its business, indicating the increasingly high demand for graduates.
And if all else fails, just embrace it!
I don’t like New Year’s Resolutions. At all. In fact, I vow to get fatter, more deceitful, spend more frivolously, and enter more toxic relationships. These are my New Year’s Regressions.
— ShinigamE (@WWEBigE) January 1, 2018
