Harvard Business School vs MIT Sloan School of Management

Comparison between Harvard and MIT

Demography

Both these universities are located around Boston. It has been an academic dreamland for all those who want to pursue higher studies like MBA. The city life completely appreciates the lives of working class sects. Due to its magnificent location, the cost of living is a little higher.

What kind of students appear for these two business schools?

If we take a close look upon the prefered educational background for both these schools, we will find slight changes in their approaches. In the case of HBS, the students are mostly from pure maths or engineering or technology backgrounds. Whereas MIT Sloan encourages application all across streams.

Number of Application Received

Harvard Business School receives a comparatively higher number of applications compared to those applying for MIT Sloan. It is due to their high ranking in academic records as well as their innovative style of approach in teaching.

Required Documents

Both these business schools are taking similar kinds of documents except for one in MIT Sloan. Here the student has to record a 5minute video for the future classmates, where one will provide basic information about the past experiences and academic career. This one way of interactive session may be used as the referential evidence for the students in future. The administration can assume an overlook for a particular student by mapping his or her visual appearance with his cognitive nature.

Difference in Course Curriculum

In HBS, the course curriculum has been divided into 4 sections (year one- Fall and Spring & year two- Fall and Spring). The faculty tries to give an overview on world economy, global business scenario, finance, technology along with leadership skills. That entire course is all about how a student develops his analytical thinking. Whereas for MIT Sloan, it is based mostly on economic or statistical approach. MIT Sloan focuses mostly on decision making approach.

Differences in teaching methodology

The case study of HBS is world renowned for its amplified implication in the business world. Most of the students engage in critical case study for understanding the global scenario of the business. The faculty believes in practical approach only. With the advancement of technology, the teaching methodology also changed. Now Podcasting has been one of the major ways of interactions between Faculty and Students in HBS. MBA program in HBS encourages a participatory attitude from the student.

On the other hand, MIT Sloan school of Management also focuses on leadership programs. The school provides a society with few world renowned leaders.

Focus on program

In one semester core course of MIT, the students are divided into six sections as per their shared experiences. On the basis of their performances in classes, all these students will then be narrowed down to 10 teams with diversities. Whereas in Harvard, the students go to the same class studying same case studies for a semester. This teaching methodology has been taken by MIT for making leadership qualities out of students.

Tuition fees and Financial Aid

MIT Sloan school of Management has higher fees structure as compared to Harvard. On the other hand it is also seen that the international students can avail thousands of fellowship programs for financial aid. The Alumni of MIT offers a lot of funds for its prospective students.

Average Salary

For pursuing MBA degrees from these business schools, one will have to pay more than INR 1.10cr. in two academic years. While appearing for placement, it is seen the average salary package offered to the students INR 1.25cr per year. The students get placement all across the world. It is advisable to get placement across the countries in the USA. If someone gets placement in Asia, then comparatively the average salary will be decreased. Choosing a perfect job location is also quite mandatory for the students to cover the burden of the loan.