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While income from short executive programmes is still on the decline at many business schools, Harvard Business School, the doyen of the industry, saw an increase of more than 8 per cent in its revenues in 2012 over 2011. At $142m, the 2012 figure was 26 per cent higher than the comparable figure in 2010.
The figures, for the fiscal year ending June 30, 2012, have been published in HBS’s annual report, which shows that the biggest contributor to the school’s coffers continues to be the publishing division, with revenues of $165m. During the year HBS Publishing sold more than 10.6m cases and published 25 new books.
Fee income from MBA programmes has risen too. Those business schools that had difficulty filling their MBA classes this year might feel understandably jealous that revenues at Harvard went up by $3m to $99m, even though the school only admitted 13 per cent of those who applied.
Overall, HBS saw revenues rise in 2012 to $546m, $47m higher than in 2011 and $79m higher than in 2010.