As the competition for the very best prospective students is continuing, Harvard Business School does everything it can so as not to fall behind.
It decided to raise its scholarship funds even further, from last year’s $32 million to a whopping $34 million this year. Thus, annual fellowships per student have increased by no less than 8%.
And this only accounts for MBA scholarship funds. If we combine that with PhD and other scholarships, it turns out that HBS has given a whole $47 million to these funds last year. In 2017, the school plans to continue raising these funds, even as tuition fees are growing.
According to Poets and Quants, the cost of tuition goes higher every year, more and more students receive fellowships. All in all, approximately half of HBS MBA students receive some kind of scholarship.
Digital Education Falls $12 Million Short
According to HBS, the university’s digital program is not doing so well: although its revenue has doubled, it still lacks roughly $12 million. This shows that even if HBS has issues in some aspects, it is able to generate returns even from them.
There is no other business program in the whole world that could match Harvard Business School’s size or scope. Even Stanford, the second best US business school, has a huge $2 billion gap to cover if it ever wants to get even with Harvard. Overseas universities have nothing on such astonishing figures: for instance, INSEAD (with the largest capital outside the USA) has no more than $200 million. Currently, HBS has increased its number of faculty by a hundred people.
In 2016, Harvard Sold A Large Number Of Case Studies
Last year, HBS’s revenues grew even more than before – by 7.6%, thanks to Harvard Business Publishing where Harvard’s journals, books and cases are printed. Endowments have also grown considerably. However, expenses are not diminishing: salary and services have raised by $15 million.
Publishing revenues continue to grow: HBS has sold over 13.5 million case studies last year only. Education revenues have experienced an unprecedented raise by $11 million – even with lower recruitment numbers.
In the future, Harvard plans to obtain more revenue from its online education (HBX). Although it is not very profitable now (it lost HBS $12 billion last year), the university considers it as being in a startup phase and expects to get a return on investment in the years to come. More and more students are enrolling into the online program – last year their number has grown by more than 39%.
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