Modern MBA

Data

Harvard

The oldest university in the United States, in Cambridge, Massachusetts, and the wealthiest school on earth by endowment.

26 figures on Harvard, drawn from 2 Modern MBA case studies.

The figures

US dollars11

Against its own chart
Annual value of the endowment in billions of dollars · 2025$57B1st of 7 · top $57BWhy college is so expensive in America
University endowments against the cash reserves of leading corporations, in billions of dollars$56.9B1st of 10 · top $56.9BWhy college is so expensive in America
Restricted against unrestricted endowment, in billions of dollars · Restricted$47B1st of 7 · top $47BWhy college is so expensive in America
Annual value of the endowment in billions of dollars · 2010$28B1st of 7 · top $28BWhy college is so expensive in America
Restricted against unrestricted endowment, in billions of dollars · Unrestricted$10B4th of 7 · top $18BWhy college is so expensive in America
Endowment distribution against net tuition revenue in 2025, in millions of dollars · Endowment distribution$2,498M1st of 8 · top $2,498MWhy college is so expensive in America
Endowment distribution against net tuition revenue in 2025, in millions of dollars · Net tuition revenue$1,438M2nd of 8 · top $1,577MWhy college is so expensive in America
Revenue of the athletics department in millions of dollars, 2024$43M10th of 11 · top $236MWhy college is so expensive in America
Annual compensation of university leaders · Endowment manager$6.4M3rd of 7 · top $7.8MWhy college is so expensive in America
Annual compensation of university leaders · President$1.6M4th of 7 · top $2.6MWhy college is so expensive in America
Annual cost of attendance including tuition, room and fees, 2025$82,8667th of 7 · top $98,900Why college is so expensive in America

Percentages9

Against its own chart
Percentage of undergraduates who live on campus97%1st of 12 · top 97%Why college is so expensive in America
Percentage of accepted undergraduates who actually enroll · 202584%2nd of 7 · top 86%Why college is so expensive in America
Percentage of accepted undergraduates who actually enroll · 200579%1st of 7 · top 79%Why college is so expensive in America
Endowment payout as a percentage of academic operating costs50%3rd of 8 · top 70%Why college is so expensive in America
Share of undergraduate alumni that donate33%3rd of 10 · top 44%Why college is so expensive in America
Ten-year annualized returns net of fees, against Vanguard's S&P 500 and total market funds8.2%9th of 10 · top 15.4%Why college is so expensive in America
Probability of getting into the Texas Monthly Top 50 relative to other competitive selections3.4%4th of 6 · top 4.7%How much a Texas BBQ joint actually makes
Operating margins of elite universities · 20150%7th of 7 · top 6%Why college is so expensive in America
Operating margins of elite universities · 2025−2%7th of 7 · top 6%Why college is so expensive in America

Counts6

Against its own chart
Size of the freshman class · 20251,6753rd of 6 · top 2,395Why college is so expensive in America
Size of the freshman class · 20051,6602nd of 6 · top 2,410Why college is so expensive in America
Composition of professors by tenure track · Tenured9064th of 10 · top 1,268Why college is so expensive in America
Composition of professors by tenure track · Non-tenured8227th of 10 · top 2,826Why college is so expensive in America
Years since founding, as of 20263901st of 10 · top 390Why college is so expensive in America
Undergraduates per varsity sports team, 202416810th of 12 · top 3,730Why college is so expensive in America

Case studies covering Harvard

Case study — ServicesWhy college is so expensive in AmericaHarvard holds $57B and charges $82,866 a year. Tuition isn't the business — the undergraduate is the seed, not the customer.16 min readCase study — Food & beverageHow much a Texas BBQ joint actually makesOne in three fail, brisket yields 40%, and the biggest variable in whether you survive is one magazine editor's palate.16 min read