Bacow began his academic career at the Massachusetts Institute of Technology. He served as professor at the institution for 24 years, ultimately being appointed department chair and the chancellor. Bacow majored in economics as an undergraduate at MIT. Upon completion of graduate school in 1977, he returned to MIT to teach in the Department of Urban Studies and Planning, becoming the Lee and Geraldine Martin Professor of Environmental Studies. He was the co-founder and first Director of MIT's Center for Real Estate. As Chancellor of MIT, he had oversight of undergraduate and graduate education, student life, admissions, financial aid, athletics, campus planning, and MIT's large scale institutional partnerships both industrial and international. He was elected a Fellow of the American Academy of Arts and Sciences in 2003.
On September 1, 2001, he was elected as the 12th President of Tufts University. While President of Tufts, Bacow opposed the unionization efforts of graduate students as well as those of the university's technical and clerical employees. On February 8, 2010, in an email to the student body he announced that he would be stepping down as President of Tufts in June 2011. On March 1, 2010, President Barack Obama announced that Bacow was appointed to the board of advisors for the White House Initiative on Historically Black Colleges and Universities.
Harvard University
On May 25, 2011, Bacow was named as a member of the President and Fellows of Harvard College, one of the boards tasked with guiding the endeavors and initiatives of Harvard University. Thus, for approximately one month, until his resignation from Tufts, he had governance responsibilities at both Tufts University and Harvard University. After Bacow was mentioned in The Chronicle of Higher Education in 2006 as a possible candidate to succeed Lawrence Summers as president of Harvard University, Bacow categorically denied interest in the position, saying, "I took this job expecting it to be my last. I still do." On February 11, 2018, it was announced that Bacow was set to become the 29th president of Harvard University on July 1, 2018, succeeding Drew Gilpin Faust. Chosen out of 700 candidates, his election was considered a "safe" succession to Faust. Like many of his predecessors, Bacow faced controversy as president of Harvard for failing to conduct a truly independent inquiry into the behavior of prominent scholar Jorge I. Domínguez, who has been accused by multiple women of sexual harassment while serving as a faculty member.
Financial compensation
Upon leaving his position at Tufts in 2011, financial disclosures show that Bacow received $2,182,717 in compensation that year. He collected $745,755 in 2009 and $691,483 in 2008. The Harvard Corporation has yet to release financial statements regarding Bacow's compensation at the university, but many have speculated via former president Drew Faust's disclosures. Her annual payment from 2008-2016 ranged from $792,611 to $1,099,660.
Personal life
Bacow is an avid runner, with five marathons under his belt. He and his wife, Adele Fleet Bacow, president of Community Partners Consultants, an urban planning firm, have two sons, Jay and Ken. On March 24, 2020, Bacow and his wife tested positive for SARS-CoV-2, the virus that causes COVID-19.