Survey Spotlights HBS Experience
Although HBS is widely known as a training ground for leaders of established firms, a new survey reveals that many MBAs are entrepreneurs too, with nearly half (49 percent) launching their own companies at some point in their careers. Once bitten by the entrepreneurial bug, alumni go on to start an average of 2.4 firms each.
These are among the preliminary findings of a survey conducted early this year to shed light on the impact that HBS has had on helping MBA Program graduates along their diverse career paths. The survey, a first for its scale and scope, was sent to some 8,450 alumni marking a reunion year in 2003 plus graduates of the Class of 2001. The overall response rate was 31 percent.
The results of the survey will help the School shape a wide range of programs and activities targeted toward prospective and current students, as well as alumni, says David Lampe, HBS executive director of Marketing and Communications. In January, the survey will be sent to the next round of reunion classes, with the objective of surveying all MBA alumni by 2008.
On the whole, alumni gave HBS high marks for preparing them to handle real-world business and leadership challenges. Eighty percent credited the School for preparing them to make decisions with incomplete information, and an equal percentage also reported that HBS prepared them to address complex problems. Other valued skills included developing self-confidence (78 percent), speaking extemporaneously (68 percent), and persuading others (68 percent).
The survey confirmed the expected with regard to the senior positions held by alumni. About 34 percent identify themselves as officer/chairman, and 25 percent as president/principal.
The data also show the extent of alumni influence beyond their own firms. Twenty-three percent serve on an average of 2.3 boards of for-profit companies where they are not currently employed. And 35 percent show their broader commitment to society by serving on an average of 2 nonprofit boards.
Friendships made at HBS endure over the years. Nearly 75 percent of respondents have an ongoing social relationship with at least one fellow alumnus. Fifty-seven percent take advantage of the alumni community for professional networking, and 46 percent tap the network for job search advice.
“The information gathered thus far provides us with a valuable snapshot of alumni,” says Lampe. “In coming years, we hope to add more detail to the picture and, ultimately, to strengthen the enduring value of the HBS experience.”
HBS Top Ten
What are the most highly rated aspects of the HBS learning experience? Here are the results ranked by percentage of respondents checking “very favorable” or “favorable.”
- Case method of teaching 86 %
- Case materials 84 %
- Faculty 84 %
- Elective courses 81 %
- Other class members 78 %
- Section experience 78 %
- Required courses 75 %
- Grading system 67 %
- Study groups 57 %
- Extracurricular activities 56 %
