Known as the M7 Business Schools, the Magic or Great Seven are a group of well-known US elite business schools widely recognized as one of the best in the world.

At these business schools, you’ll complete high-level MBA and Masters programs, gain access to leading professors, transform your career path, and join impressive communities of notable alumni that include presidents and CEOs.

Many of the M7 business schools snubbed MBA rankings like The Economist and the Financial Times in 2021. But one year off the ranking won’t hurt those schools’ reputations.

The M7 business schools are highly competitive and require top GMAT results. MBA graduates from these schools will also see their salaries and can expect to sit at a simple six-figure figure after graduation.

The M7 Business Schools are: Harvard Business School, Stanford Graduate School of Business, Wharton School at the University of Pennsylvania, Columbia Business School, Kellogg School of Management at Northwestern University, Chicago Booth, and MIT Sloan.

If you are considering an M7 MBA, learn more about the M7 Business Schools and how their full-time MBA programs compare below.

The M7 Business Schools

Harvard Business School

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Class size: 732
% International: 33
% Women: 44
Average MBA salary 3 years after graduation *: $ 210,110

Founded in 1908 in Boston, Massachusetts, Harvard Business School has produced many notable alumni, including Facebook COO Sheryl Sandberg and Bloomberg CEO and founder Michael Bloomberg.

Before dropping out of the Financial Times Global MBA Ranking this year, Harvard Business School was number one worldwide. MBA students can expect to earn $ 230,000 total compensation (salary + bonuses) immediately upon graduation and $ 210,000 in salary after three years alone.

Harvard MBA Jobs & Salary Review

Harvard MBA Class Profile | Dismantle

Stanford Graduate School of Business

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Class size: 436
% International: 35
% Women: 47
Average MBA salary 3 years after graduation: $ 222,625

The Stanford Graduate School of Business was founded in California in 1925 and the school’s MBA class profile boasts an impressive number. Stanford graduates can expect an average post-MBA salary of $ 222,626, the highest among M7 business schools.

The school has produced some very formidable alumni including Mary Barra, CEO of General Motors, Jeffrey Skoll, eBay’s first president, and UK Chancellor Rishi Sunak.

With Stanford just a stone’s throw from Silicon Valley, Stanford is also a great place for entrepreneurs and startups because of its entrepreneurial atmosphere.

Stanford MBA Jobs & Salary Review

Stanford MBA Class Profile | Dismantle

Wharton School, University of Pennsylvania

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Class size: 916
% International: 19
% Women: 41
Average MBA salary 3 years after graduation: $ 211,543

This 140-year-old Pennsylvania-based institution has produced alumni like Tesla CEO Elon Musk and Google CEO Sundar Pichai. Business tycoon Warren Buffett is also an esteemed Wharton graduate.

Wharton has the largest MBA cohort of the M7 Business Schools, with a class size of 916 students, and the school’s MBA offers candidates a wealth of networking opportunities. You also have the potential to make more than $ 210,000 three years after graduation.

Columbia Business School

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Class size: 782
% International: 44
% Women: 40
Average MBA salary 3 years after graduation: $ 202,238

Columbia Business School is an Ivy League school and a member of the M7 and is located in New York City. This Manhattan institution was founded in 1916 and is one of the oldest business schools in the world. Notable Columbia Business School MBA alumni include Sallie Krawcheck, CEO and Co-Founder of Ellevest, and James P. Gorman, CEO of Morgan Stanley.

Columbia MBA Jobs & Salary Review

Northwestern University, Kellogg School of Management

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Class size: 559
% International: 26
% Women: 40
Average MBA salary 3 years after graduation: $ 186,438

The Kellogg School of Management, based in Chicago, Illinois, was founded in 1908. It was named in 1979 after the generous donor John L Kellogg – the son of the founder of the grain company. Impressive alumni include the American Senator John Hoeven and the Governor of Massachusetts Charlie Baker.

University of Chicago, Booth School of Business

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Class size: 621
% International: 30
% Women: 38
Average MBA salary 3 years after graduation: $ 191,679

The Booth School of Business at the University of Chicago is the second oldest business school in America and was founded in 1898. She has been linked to 9 Nobel Prize winners in economics. Some of the most famous alumni are finance manager Susan Wagner, former CEO of The Gillette Company, James L. Kilts, and Microsoft CEO Satya Nadella.

MIT Sloan School of Management

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Class size: 484
% International: 33
% Women: 38
Average MBA salary 3 years after graduation: $ 197,177

MIT Sloan, based in Cambridge, Massachusetts, was founded in 1914. Affiliated with MIT, there are many opportunities for MBA students to learn at the interface between business and technology.

It has also produced a selection of well-known and formidable alumni, such as Kofi Annan, Ghanaian diplomat, Carly Fiorina, former CEO of Hewlett Packard, and John S Reed, former chairman of the New York Stock Exchange.

Compare the M7 business schools

Continue reading:

M7 MBA | Which M7 Business School Should You Choose?

* The salary data for this article was taken from the Financial Times Global MBA Ranking 2020, which shows the average alumni salary three years after graduation.

Stacy Blackman is the founder of Stacy Blackman Consulting and tops MBA Insight's list of top MBA admissions consultants