If one intends to ask why an MBA is significantly a better career option, then it would be apt to scout for successful individuals in the field of business who are changing lives and adding value to the society.
It’s not only important to find a better MBA career, but it is also quite self-explanatory – finding a good MBA school. Globally, there many MBA schools who provide added advantage and international exposure to their students. But doing an MBA from the world’s first established program is definitely a win-win situation.
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Harvard Business School (HBS), founded in 1908, is home to the emerging world leaders. Its 40-acre campus in Boston is a trendsetter in the field of business. HBS offers full-time MBA program, eight doctoral programs and 80 executive educations. Besides this, it has partnered with the Harvard Kennedy School of Government for the Master of Public Policy MBA and Master of Public Administration-International Development MBA program.
HBS has more than 200 faculty members who have expertise in various management domains and have an experience of working with business houses worldwide.
Why Harvard Business School (HBS)
Its two year program gives students’ the real-world challenges to face. With a diverse community including faculty members and colleagues, it intends to bring in personal and professional development within an aspiring individual.
-It invites its students’ to look within, land in the core of the issue and use skills to unravel the mystery. The key to survival is a demonstration of leadership qualities.
-There is always scope for any kind of leadership. HBS appreciates the leadership of any scale and impact. There is so much to talk about with little whatever one has.
HBS has collaborated with four Harvard University Graduate Schools and is offering five joint degree programs.
-MBA/MPP (Master of Public Policy) in association with Harvard Kennedy School.
-MBA/MPA-ID (Master of Public Administration – International Development) in association with Harvard Kennedy School.
-JD/MBA in association with Harvard Law School.
Harvard Law School: – Harvard Law School (HLS) combines the resources of the world’s premier center for legal education and research with an educational environment. Law students have many opportunities for intellectual engagement with faculty and classmates. Over 240 of our courses and small group seminars have fewer than 25 students enrolled.
JD Program:- Harvard Law School recently undertook a sweeping overhaul of its first-year curriculum. Selecting courses at the Law School and throughout the University that align with their interests. Five optional Programs of Study – Law and Government; Law and Social Change; Law and Business; International and Comparative Law; and Law, Science and Technology developed by the Law School.
-MD/ MBA in association with Harvard Medical School.
Harvard Medical School:- Harvard Medical School began with a handful of students and a faculty of three. Members of the Harvard Medical School community have been expanding the boundaries of knowledge for more than 200 years.
MD Program:- The study of medicine is a powerful integration of science, technologies, experience, and experiment that enables its students to alleviate human pain and suffering wherever in the world it may occur.
-DMD/MBA in association with Harvard School of Dental Medicine.
Harvard School of Dental Medicine:- The Harvard Dental School was the first dental school in the United States to be affiliated with a university and its medical school. HSDM is the only school at Harvard that offers direct patient care, with the Harvard Dental Center welcoming more than 25,000 patients for over 57,000 dental visits every year.
DMD Program:- The Harvard School of Dental Medicine offers DMD candidates an unparalleled opportunity to draw on the resources of a world-renowned University and medical center in the education of its dental students. This program considers dentistry a specialty of medicine. A solid understanding of the human body shapes the foundation of the program.
The 2+2 Program at HBS is a deferred admission process for current students who are either in college or full-time master’s programs. In this program, there are two components. It consists of two years of professional work experience and two years in the HBS MBA Program. The admitted students in 2+2 program have to spend two years working in a professional, HBS-approved position in the public, private, or non-profit sector.
The other program related to the MBA is ‘Program for Leadership Development’ (PLD). It’s an alternative to Executive MBA program. PLD is a 28 week program designed to advance one’s leadership abilities. It includes one-on-one coaching, collaborative learning through living groups, personal strategy projects and practical application in day to day business affair.
Getting into the Harvard Business School is competitive. In order to survive in its ever demanding, fast-paced environment, the candidate has to show her/his problem solving abilities in extremely difficult situations.
In order to be considered for admission, an applicant must have successfully completed the following:
-A degree program at an accredited U.S. four-year undergraduate college/university or its equivalent or equivalent programs include international three-year bachelor degree programs.
-Graduate Management Admission Test (GMAT) or Graduate Record Examination (GRE) is a prerequisite to be considered for admission. The candidate has to sit for the examination within a timeframe prescribed by the HBS.
-International applicants who have attended a non-English speaking undergraduate university are required to take one internet-based Test of English as a Foreign Language (TOEFL) or International English Language Testing System (IELTS)
-The candidate must submit a complete filled in online application for evaluation by one of the decision round deadlines.
-Additional materials such as current resume, signed acceptance of HBS admission policies and a non-refundable application fee of US$250 are required.
HBS has reduced the essay type questions and number of recommendation letter required during the admission process. Now a candidate has to write one essay without any word limit. Also the candidate needs to produce only two recommendation letters. There will also be room for other things such as volunteer work, sporting achievements, any start-up to work with on the weekends, and demonstration of leadership of any scale.
After the initial review of applications, selected applicants will be invited next for an interview on campus, in a designated city or over Skype. Interviews generally last for 30 minutes and will be conducted by a member of the MBA admissions staff. After completion of the interview, within 24 hours, the candidate must submit a reflection on their experience about the interview process.
For its ‘Program for Leadership Development’ (PLD), the candidates must have at least 10 years of experience and strong functional knowledge in their respective domain. A comprehensive application form along with a ‘sponsor statement’ is required to be considered for the program.
Financial aid in HBS is need based. Those successful candidates who secure a place in HBS will have access to various financial assistances through loans and need based fellowship programs. Though there will always be a variation in the cost of living and other associated expenditures, but there is a standardized budget that one should keep in the mind. 65% students receive some forms of financial assistance.
(a) Federal Direct Stafford/Ford Loans for qualified students of US. They should be necessarily citizens or U.S. Permanent Residents. The maximum loan amount is $20,500.
(b) The Federal Perkins Loan, a small loan program, is available those qualified students who are the citizens or permanent residents of the United States. The loan is interest free while the candidate is in school.
(c) Federal Direct Graduate PLUS Loans are available to those qualified students who are citizens or permanent residents of the United States for the cost of attendance less other aid received.
(d) Private Loans are also available for domestic and international students.
(a) The Robert S. Kaplan Life Sciences Fellowship is given only to the students who are into science related businesses or organization. The aid amount is $20,000 and is awarded each to ten incoming MBA students. This scholarship is awarded for the first year only.
(b) Horace W. Goldsmith Fellowship is given to 7-10 first year MBA students who have an exemplary leadership skill and have shown commitment to working in a non-profit organization. The aid amount is $10,000. This is given in addition to any need-based fellowship and is only for the first year.
(c) John H. McArthur Canadian Fellowship is awarded to the potential Canadians. The aid amount is $10,000 per year.
(c) Junior Achievement Fellowships are awarded to students who have at least two years’ experience in Junior Achievement either being a mentor in high school or as an advisor in or after college. The amount ranges from $5-6,500. The fellowship is awarded annually and candidates are required to reapply in the next academic year as well.
For detailed information visit the website of Harvard Business School (HBS).
Harvard Business School recently started its online education evnture called HBX. This program is different from the massive open online courses (MOOCs) offered by the Harvard University and MIT partnership program edX which offers free courses for students around the world. Go through the blogs of Harvard.