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    • 5-Year Data Summary
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  • 5-Year Data Summary→

Financials

5-Year Data Summary

  • 5-Year Data Summary
  • CFO Letter
  • Consolidated Balance Sheet
  • Statement of Activity & Cash Flows
  • Supplemental Financial Information

Financial Data

 
IN MILLIONS for the Fiscal Year {FY} ended June 30...
2014 2013 2012 2011 2010
Revenues
$ 633 m.
587 546 509 467
Expenses
$ 597 m.
542 504 456 415

Cash from operations

36 45 42 53 52

Capital investments

98 78 51 34 14

Building debt outstanding

85 91 99 103 112

Unrestricted Reserves

99 83 119 79 99

Endowment

3,224 2,880 2,665 2,779 2,311

Total Assets

4,409 3,831 3,490 3,528 3,087
 
Consolidated Balance Sheet
 
 

Key Facts

MBA

The MBA Program continues to attract high-quality applicants from around the world, even as the number and type of management programs proliferate. Yield reflects the percentage of admitted students who ultimately choose to attend HBS; 89 percent is unparalleled not just among top business schools, but also among colleges and universities generally.
2014 2013 2012 2011 2010

Applications

9,543 9,315 8,963 9,134 9,524

Percent Admitted

12% 12% 13% 12% 11%

Yield

89% 89% 90% 90% 89%

Enrollment

1,859 1,838 1,805 1,860 1,864

Tuition

$ 56,175 $ 53,500 $ 51,200 $ 48,600 $ 46,150

Average Fellowship Aid Per Student

$ 31,710 $ 30,725 $ 29,843 $ 26,745 $ 23,989

Doctoral

Doctoral Programs graduates go on to fill faculty positions at leading global universities and business schools—including HBS. In the last five years alone, approximately 80 doctoral students have accepted positions in academia, extending the reach and influence of the School.
2014 2013 2012 2011 2010

Applications

792 816 868 830 931

Percent Admitted

4% 5% 4% 5% 4%

Yield

76% 71% 68% 68% 69%

Enrollment

150 143 137 132 125

Executive Education

The Executive Education portfolio includes programs ranging from a few days to multiple weeks, covering topics from strategy to governance to nonprofit management. The participants in these programs return to their organizations—in every sector and in every region of the globe—with new leadership skills and fresh ideas, connecting the School and its faculty to practice at a deep level.
2014 2013 2012 2011 2010

enrollment

9,993 9,992 9,891 9,939 8,670

Faculty

Faculty produce a wide array of teaching materials, including field cases, industry notes, field method team exercises, and simulations. Most measures of research impact, including citations and other rankings, place HBS faculty members at the very top of their fields.
2014 2013 2012 2011 2010

Faculty Positions (full-time equivalents)

234 227 232 217 218

Teaching Materials

617 684 640 635 538

Research Articles

193 181 184 150 155

Books

18 17 23 18 29

Staff

2014 2013 2012 2011 2010

Staff Positions (full-time equivalents)

1,447 1,335 1,198 1,138 1,087

Publishing

Harvard Business Publishing is the leading supplier of cases to business schools and educational programs—about 4,000 such institutions worldwide. In this way, HBS faculty have helped shape the curricula of management education for generations of faculty and students.
2014 2013 2012 2011 2010

Cases Sold

11,991,870 11,448,076 10,603,000 9,764,000 9,668,000

Harvard Business Press Books Sold

1,980,542 1,950,931 1,580,000 1,665,000 1,769,000

HBR Circulation

292,954 285,520 256,000 241,000 236,000

HBR Reprints Sold

3,312,578 3,231,384 3,355,000 3,098,000 2,946,000



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