M7 Business Schools In US Guide 2024: Acceptance Rate, Admissions, Scholarships

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The 7 elite US business schools known as Magnificent 7 or Magic 7 formed to create an exclusive and strong network of the grand business schools in the US. The M7 Business Schools are for those who seek to study business in the USA and choose top-ranked MBA programs.

You can call them elite, grand, or high-tech, these best business schools in the world are hard to crack for admissions. To get into any one of these top business schools listed below, you need a strong base, like a solid educational background, grades, and a professional drive to compete and succeed in the business world.

What are the m7 business schools?

These business schools have been chosen to be part of the elite group based on certain factors such as student excellence, experience, diversity, employability rate and ROI.

How to apply to the m7 business schools?

Prepare your educational journey and documents
Take the test scores as per the course and university requirements
Prepare an SOP stating your purpose of study, achievements, and awards
Prepare a resume listing all your professional experience
Recommendation letters from two of your professional supervisors
Prepare an essay stating your interest in the institution
Check the fees, and date of submission and apply for the business school
Prepare visa, book flights and student accommodation

Chicago Booth School of Business

U.S News Ranking	Tuition fee MBA fee	Avg. GMAT	Avg. GPA	Acceptance Rate	Approx. Alumni
1	$ 77,841 – $ 1,15,062	730	3.6	23.5%.	10,000 alumni in C-suits roles

With its high global ranking, this private research institution in Chicago, Illinois is one of the best business schools in the us. You can find full-time MBA Programs, Executive MBA Programs and PhD to choose from for your business studies. As compared to most business schools, this one has a medium class size with over 600+ with 36 % international students enrolled in the Chicago Booth class of 2025.

Chicago Booth School of Business Scholarships:

Merit-Based Scholarships
Global Innovator Fellowships
Industry Awards
Leadership Awards
Military Awards
Awards For Second-Year Students

Kellogg School of Management

U.S News Ranking	Tuition fee MBA fee	Avg. GMAT	Avg. GPA	Acceptance Rate	Approx. Alumni
2	$ 1,05,380 – $ 1,50,201	729	3.7	20%	65,000 alumni globally

This is one of the M7 Business Schools, that’s part of Northwestern University. The institution offers world-class facilities, a supportive community, a comprehensive learning experience, industry expert faculties and an immersive environment to learn, connect and grow! Students pass out being leaders across various verticals like finance, healthcare and culturing, job offers for a full-time job within months of graduation. If you seek to study here, you can choose from a full-time MBA Program, The Master in Management, Master in Management, Executive MBA Program and One-Year MBA Program.

Kellogg School of Management Scholarships:

Finance Fellows
Merit Based Scholarships
Financial Need Based Scholarships

Wharton University of Pennsylvania

U.S News Ranking	Tuition fee MBA fee	Avg. GMAT	Avg. GPA	Acceptance Rate	Approx. Alumni
3	$ 84,874 – $ 1,18,568	733	3.6	9% (2016)	100,000 in 153 countries

Also on the list of the best business schools in the world is the Wharton School. It is the business school of the University of Pennsylvania located in Philadelphia, PA offering an academic structure, expert faculty, alumni base, and infrastructure. The best and distinct feature of the school is that for those with ongoing graduate business degrees, students can pursue joint degrees. Apart from Undergraduate, MBA, Doctoral Programs, Executive Education, Global Programs Interdisciplinary Programs Global Youth Programs, it is popular for its rigorous program in finance.

MBA Wharton Scholarships:

Joseph Wharton Fellowships
Howard E. Mitchell Fellowships
Emerging Economy Fellowships
Forté Fellowships
Social Impact Fellowships
Many others (official website of Wharton School)

MIT Sloan School of Management

U.S News Ranking	Tuition fee MBA fee	Avg. GMAT	Avg. GPA	Acceptance Rate	Approx. Alumni
4	$ 80,400 – $ 1,19,995	730	3.62	13.8%	140,0000 Alumni worldwide

With a low acceptance rate, there’s fierce competition among students who want to study at MIT. The Sloan School of Management is the business school of Massachusetts Institute of Technology. The school offers a distinct unique program for students where instead of a two-year program, they offer a 12-month MBA program. Through hands-on learning experience, the school prepares students to be leaders of tomorrow and make an impact on the world. Over 87% of students are enrolled in jobs within three months of graduation.

MIT Sloan School of Management Scholarships

There are many types of scholarships, these are only a few:

42 Analytics Fellowship
Tamotsu Adachi (1983) Fellowship
Admadjaja Family Fellowship
Jim and Sara Anderson Fellowship
Antonios and Ioannis Angelicoussis Foundation Fellowship
ASEAN Fellowship
Many others (official website of MIT)

Harvard Business School

U.S News Ranking	Tuition fee MBA fee	Avg. GMAT	Avg. GPA	Acceptance Rate	Approx. Alumni
5	$73,400 – $1,13,042	730	3.7	12% (2016)	85,000 alumni in 173 countries

Harvard Business School is a private research institution of Harvard University in Boston, Massachusetts. Known to be the most reputable business school in the world, it offers more than just an MBA, but doctoral programs and executive education too. One of the most distinguished features of the school is the case method with 500 cases to read during the two-year MBA Program. Did you know it has the largest size class of all the M7 business schools? And also a global reach through programs, initiatives, etc.

Harvard Business School MBA Scholarship

Need-based scholarships

Stanford Graduate School of Business

U.S News Ranking	Tuition fee MBA fee	Avg. GMAT	Avg. GPA	Acceptance Rate	Approx. Alumni
6	$76,950 – $124,389	737	3.76	6.1% (2016)	30,000+ Alumni Worldwide

Stanford Graduate School of Business is the business school of Stanford University in Stanford, California. It is one of the best business schools in the world offering top-class business education, unparalleled opportunities, a focus on employability, entrepreneurship programs and access to resources. The school offers an MBA Program, Stanford MSx Program and PhD Programs.

List of Stanford MBA Scholarships:

Need-Based Aid
Stanford GSB Need-Based Fellowships
Stanford GSB BOLD Fellows Fund
Stanford Knight-Hennessy Scholars Program

Columbia Business School

U.S News Ranking	Tuition fee MBA fee	Avg. GMAT	Avg. GPA	Acceptance Rate	Approx. Alumni
11	$ 77,376 – $ 1,18,777	729	3.6	18.2% (2015)	45,000+ global alumni network

It is one of the oldest business schools in the world and one of six Ivy League business schools. Columbia Business School private research university business school of Columbia University in New York City. The distinct feature is that this is the only school that provides MBA programs with real-world exposure by connecting theory with practicals at retail stores, trading rooms and board rooms. And, the other is, the GPA and test scores are significantly higher than those of many other schools. The school offers MBA Executive, MBA Master of Science, PhD and Undergraduate Concentration.

Columbia Business School Scholarships: