Kelley School of Business offers one of the most economical top-ranked MBA programs in the United States with a $120,000 base salary (2021-22). The low living cost in Bloomington, Indiana, and an impressive placement record (94.8% receiving jobs within 90 days) provide a viable alternative to the top 20 MBA programs in the world.
In this in-depth analysis of Kelley’s full-time MBA program, we cover:
• Kelley Full-Time MBA Class Profile
• Kelley Full-Time MBA Cost
• Kelley Full-Time MBA Scholarships and Financial Aid
• Kelley Full-Time MBA Curriculum
• Kelley Full-Time MBA Application Process
• Kelley Full-Time MBA Salary by Industry (2021)
• Kelley Full-Time MBA Salary by Function (2021)
• Kelley Full Time MBA- US Placement Data (2021)
Kelley Full-Time MBA Class Profile
157 students were enrolled for the 2023 graduating Kelley Full-time MBA program that, constituted students with an average GPA of 3.33 and an average GMAT score of 679. The class attracted 42% of international students due to Kelley’s reputation as an affordable MBA program. The average age of 30 years and a much older - 6.4 years of professional working experience, customized the class to a relatively lower representation for women in a top US MBA program that hovered between 35-45%.
| Kelley Full-Time MBA | Class of 2023 |
|---|---|
| Class Size | 157 |
| Average GPA | 3.33 |
| Average GMAT | 679 |
| International Students | 42% |
| Women | 31% |
| Minorities | 25% |
| Average Age | 30 |
| Average Work Experience | 6.4 years |
Kelley Full-Time MBA Cost
The annual tuition fee for the Kelley Full-Time MBA program is $55,167 for Indiana residents and $80,275 for non-residents and international students. The yearly tuition fee structure includes tuition charges, Mandatory fees, room and board, books, supplies, transportation, and miscellaneous expenses. The cost of each expense is different for Indiana residents and non-residents/international students. Regardless, the total cost is within a $110,334 to $160,550 range making the Kelley MBA an affordable and value program for middle-income households.
| Kelley MBA Cost Breakdown | Indiana Residents | Non-residents /International |
|---|---|---|
| Tuition | $28,425 | $53,533 |
| Mandatory Fees | $2,300 | $2,300 |
| Room and Board | $15,456 | $15,456 |
| Books Supplies | $1,950 | $1,950 |
| Transportation | $2,958 | $2,958 |
| Miscellaneous | $4,078 | $4,078 |
| Total | $55,167 | $80,275 |
Kelley Full-Time MBA Scholarships and Financial Aid
Another contributing factor for Kelley MBA to earn the affordable MBA title is the 11+ Scholarships, Fellowships, Financial aids, and loans offered to domestic, international, women, LGBTQ, and students belonging to specific regions. Up to full-tuition fee is covered in certain fellowships.
Related: Scholarship vs. Fellowship – What is the difference
Kelley MBA - Scholarships and Fellowships
| Scholarships and Fellowships | Eligibility | Amount |
|---|---|---|
| Merit Aid | On the basis of academic performance, GMAT/GRE scores, Professional experience, Application strength | $10,000 - full tuition |
| Dean’s Fellowship | Awarded to exceptional students in terms of their total profile including work experience, test scores, undergraduate performance, leadership potential, and admissions interview. | two years of full tuition |
| Forte Fellowships | Female Students | $15,000 - full tuition |
| Global Fellowships | Students from Latin America are preferred | $35,000 |
| Kelley School of Business Merit Fellowship | Students demonstrate strong academic skills and leadership abilities. | $7,500 - full-tuition |
| ROMBA | Students that self-identify as LGBTQ | Minimum $20,000 |
| Professional Student Employee Program | paid assistantship within Kelley School of Business academic departments and offices | paid at an hourly rate of $18.75. |
Indiana Connection
| Indiana Connection | Eligibility | Amount |
|---|---|---|
| Back to Bloomington Fellowship | Students who have completed their undergraduate education at Indiana University Bloomington with achievement in academics or leadership | $10,000 up to the full difference between non-resident and resident tuition rates. |
| Hoosier Heritage Fellowship | Students with strong academic credentials or extraordinary achievement in leadership who have completed their undergraduate education at a college or university in Indiana, other than Indiana University Bloomington | $5,000 up to the full difference between non-resident and resident tuition rates. |
Financial Aid/Loans
The admitted students can also apply for need-based federal or student loans.
Some of the known Financial Aids and Loans are:
Options for all admitted students: Financial aid, loan, and scholarship information through FinAid, or search for scholarships on FastWeb. The IU’s Student Central also guides students in finding resources to finance their education at IU.
Domestic students: The domestic students can fill the Free Application for Federal Student Aid to apply for federal Stafford and PLUS loan programs
International students: International students are eligible to get private loans. You might require a co-signer to secure the loan who must be a US citizen or permanent resident. The other options available for international students include funding through the Institute of International Education and the Fulbright Program.
Kelley Full-Time MBA Curriculum
The two-year Kelley Full-Time MBA program lets candidates tailor their program to goals in leadership development, gaining global exposure, and fine-tuning teambuilding skills.
The program starts with Integrated Core - an intense 15-week program that comprises nine core subjects. After the completion of the core, next is the career experience through an industry-focused Academies, which the students must select. This will help them gain real-world experience through cases and consulting projects. Further, students will get opportunities to choose their specializations through Majors and minors, Certificate Programs, Joint Degrees, and Global Experiences in Curriculum.
Core Curriculum
Throughout the Core, candidates will be part of a small group of students with various professional and cultural backgrounds. With each project, students learn to become better managers and collaborators, build lasting connections, and learn a new perspective on business.
The 15 weeks core program includes:
• Business Communication
• Critical Thinking
• Economic Foundations
• Finance
• Financial Accounting
• Marketing
• Operations Strategy
• Quantitative Analysis for Business Decisions
• Strategic Management
Majors and Minors
At Kelley, Majors and minors build on the business basics and global views that candidates get in the Kelley Integrated Core. Kelley MBA’s five majors are classified under STEM, reflecting the curriculum's emphasis on analytics, technology, and data-driven decision-making.
Kelley MBA – Majors and Minors
• Business Analytics (STEM-designated)
• Entrepreneurship and Corporate Innovation
• Finance (STEM-designated)
• Management
• Marketing (STEM-designated)
• Strategic Analysis of Accounting Information (STEM-designated)
• Supply Chain and Operations (STEM-designated)
Majors: Candidates can take 15 credit hours (10 classes) of necessary coursework, leaving with 21 credit hours to spend for electives, a second major, a minor, or a certificate, depending on the chosen major.
Kelley MBA Curriculum Customizability: Starting from the first year, candidates can personalize the curriculum.
Minors: Students must complete an additional six credit hours, or four courses, to get a minor in another academic subject.
Certificate Programs
Kelley offers three certificate programs for Full-Time MBA students.
Global Business Achievement: This Certificate will help students better grasp the cultural, economic, and regulatory issues that influence global businesses. By participating in at least one global learning activity that fits the theme of the concentration and associated language and culture classwork, students broaden their international perspectives. To qualify, students must complete three categories of this certificate: Specialized Coursework, Global Experience, and Language and Culture.
Product Management: Product managers are responsible for a product's creation and success, collaboration with engineering, finance, marketing, and operations to ensure feasibility and profitability. The Product Management Certificate will help candidates interested in a rewarding career at the intersection of technology, business, and design. Fifteen credit hours are required for the certificate (or alternative courses approved by the Kelley MBA program).
Social Entrepreneurship: With the Certificate in Social Entrepreneurship program, candidates will put their business skills to work in tackling global problems, such as providing clean water to developing countries or equitable access to energy. The Kelley School of Business and the O'Neill School of Public and Environmental Affairs have collaborated on this curriculum.
Six of the 18 credit hours necessary for the credential are mandatory courses.
Kelley students must take three of the remaining 12 credit hours through the O'Neill School. Participation in Kelley's GLOBASE (Global Firm and Social Enterprise Program) or a qualifying internship in social entrepreneurship with a business, NGO, or government agency is also required for this certificate.
Joint Degrees
Kelley University also offers students the option to add another Indiana University degree to their MBA. Included in the Kelley MBA Joint Degrees programs are:
• A law degree from Maurer School of Law through three or four-year JD/MBA programs.
• A master’s degree from IU’s College of Art and Science in Latin America and Caribbean Studies; East Asian Languages and Cultures; Russian and East European Studies; West European Studies; or Central Eurasian Studies through our three-year MBA/MA Program.
Experiential Learning
With an immersive experience, through three major programs - 1Kelley Consulting, Bloomington Brands, and Washington Brands, students can improve their abilities and understanding of how a business operates.
1Kelley Consulting
1Kelley Consulting teams work with local businesses run by women and underrepresented minorities and organizations that support them. Kelley MBA students chosen as 1Kelley leaders coach, supervise project teams of high-achieving Kelley undergraduate students in organizing and executing the course with the help of a faculty member.
Bloomington Brands
Bloomington Brands, America's only program of its kind, teaches key marketing activities like brand planning, consumer research, consumer communications, and product management. This internship is suitable for Kelley MBA students interested in consumer products or brand management.
Washington Brands
Students from 17 MBA programs participate in the Washington Campus educational consortium, which brings them to Washington, D.C., for a week of networking and education. Students meet policymakers in person, learn how regulatory changes are implemented, and witness how these changes influence both for-profit and nonprofit companies.
Global Experiences
Kelley Full-time MBA offers a global experience through two programs - GLOBASE and Study Abroad.
Global Business and Social Enterprise (GLOBASE)
GLOBASE provides an opportunity to work directly with entrepreneurs and non-profits worldwide. Students tackle specific business challenges facing small and medium-sized businesses and non-profits. In the past, more than 50 small-to-medium-sized business and non-profit clients in Latin America, Africa, and Asia have been served by Kelley MBA. Some of the recent projects include visits to Guatemala, India, Botswana, Native, and Vietnam.
Study Abroad
Kelley Full-Time MBA study abroad is an exchange program with 32 partner schools in Asia, America, Europe, Australia, and Africa.
Partner School List
| Partner School | City, Country |
|---|---|
| Gordon Institute of Business Science, University of Pretoria | Johannesburg, South Africa |
| Wits University Graduate School of Business Administration | Johannesburg, South Africa |
| Escola de Administracao de Empresas de Sao Paulo da Fundacao Getulio Vargas | Sao Paola, Brazil |
| Pontificia Universidad Catolica de Chile - School of Business | Santiago, Chile |
| Universidad Torcuato Di Tella | Buenos Aires, Argentina |
| China Europe International Business School | Shanghai, China |
| Chinese University of Hong Kong | Hong Kong |
| Guanghua School of Management, Peking University | Beijing, China |
| Hong Kong University of Science and Technology Business School | Hong Kong |
| Keio Business School | Yokohama, Japan |
| National University of Singapore Business School | Singapore |
| Sungkyunkwan University | Seoul, Korea |
| Waseda Business School | Tokyo, Japan |
| University of Otago School of Business | Dunedin, New Zealand |
| Melbourne Business School | Melbourne, Australia |
| Aalto University School of Business | Helsinki, Finland |
| Alliance Manchester Business School | Manchester, UK |
| ESADE Business School Executive MBA Program | Madrid and Barcelona, Spain |
| ESSEC Business School | Paris, France |
| LUISS Business School | Rome, Italy |
| Nova School of Business and Economics | Lisbon, Portugal |
| Rotterdam School of Management, Erasmus University | Rotterdam, Netherlands |
| Universita Commerciale Luigi Bocconi | Milan, Italy |
| University of Bayreuth | Bayreuth, Germany |
| University of Cologne | Cologne, Germany |
| University of St.Gallen | St. Gallen, Switzerland |
| Vienna University of Economics and Business | Vienna, Austria |
| Warwick Business School | Coventry, UK |
| WHU – Otto Beisheim School of Management | Valendar and Dusseldorf, Germany |
| Hebrew University's Jerusalem School of Business Administration | Jerusalem, Israel |
| Tel Aviv University's Coller School of Management | Tel-Aviv, Israel |
Kelley Full-Time MBA Application Process
The applicants must follow these ten major steps in order to complete the Kelley Full Time MBA Application Process.
1. Take the GMAT or GRE or request a waiver: The students must take GMAT and GRE exams before submitting their applications. Also, a GMAT or GRE scores older than five years will not be accepted.
2. Take the TOEFL or IELTS (for international applicants): If English is not the official language for the student, then they have to take TOEFL or IELTS exam before submitting an application. Also, the score should not be older than two years. The students must have a minimum internet-based TOEFL score of 100; 600 on the paper-based TOEFL; or band 7.0 on the IELTS to become eligible for Kelley’s Full-Time MBA.
3. Access the Indiana University Graduate Centralized Application System (CAS): Browse the official CAS website and open an account and fill up the application form with all the details.
4. Provide standardized test score reports: Send the scanned copies of unofficial GMAT or GRE score to the official email id of Indianan University.
5. Scan and upload official academic records: Submit the official transcripts from every college or university attended. If transcripts are in languages other than English, applicants must also submit translated versions.
6. Update and upload your resume: Applicants are required to submit their latest resume, which must be presented in one to two pages.
7. Submit admission essays in a single file in the Program Materials section of the application.
8. Submit a recommendation letter: One recommendation is required from each applicant. Someone who can comment on professional performance should be the recommender.
9. If invited, schedule an interview: Not all the students are invited for interviews. Interviews are typically administered through phone or Skype.
10. Submit the application by the deadline with an application fee of $75
Kelley Full-Time MBA Salary by Industry (2021)
Technology dominated all other industries and hired 23% of participants along with a $130,000 base salary. Consulting was 2nd overtaking Consumer Packaged Goods and Healthcare with 16% of the offers and the highest Base Salary ($155,000).
Financial Services, Manufacturing, and retail had similar representation at Kelley with 10%, 9%, and 9% of hiring, respectively.
| Kelley MBA Placement by Industry | % Hired | Base Salary |
|---|---|---|
| Consulting | 16% | $155,000 |
| Consumer Packaged Goods | 13% | $110,000 |
| Energy | N/A | N/A |
| Financial Services | 10% | $123,500 |
| Healthcare | 14% | $119,000 |
| Manufacturing | 9% | $105,600 |
| Media/Entertainment | N/A | N/A |
| Retail | 9% | $125,000 |
| Technology | 23% | $130,000 |
| Transportation Logistics Services | N/A | N/A |
| Other Services | 6% | $102,663 |
Kelley Full-Time MBA Salary by Function (2021)
The highest-paid function at the Kelley Full-Time MBA employment report was Consulting ($150,000 median base salary) – just $15,000 short of offers earned by students from the top 10 US MBA programs with double the cost. With 36% of the class accepting offers on a $115,000 base salary, Marketing/Sales was still the function to hire the maximum number of students. Other functions with high hiring percentages included Finance/Accounting, Operations/Logistics, and General Management with 11%, 10%, and 12% hiring percentage, respectively.
| Kelley MBA Placement by Function | % Hired | Base Salary |
|---|---|---|
| Consulting | 21% | $150,000 |
| Finance/Accounting | 11% | $116,500 |
| General Management | 12% | $124,250 |
| Human Resources | N/A | N/A |
| Marketing/Sales | 36% | $115,000 |
| Information Technology | 4% | $130,000 |
| Operations/Logistics | 10% | $110,000 |
| Other | 6% | $120,000 |
Hiring Companies (2021)
Some of the top hiring Companies which participated in the Full-Time MBA program placements were:
• 3M
• Amazon
• Bank of America Merrill Lynch
• Cummins, Inc.
• Deloitte Consulting
• Ecolab
• EY
• Google
• IU Health
• Johnson & Johnson
• JP Morgan Chase
• Nestle
• Owens Corning
• PolyOne Corporation
• Procter & Gamble
• PwC
Kelley Full Time MBA- US Placement Data (2021)
As per the Kelley Full Time MBA employment report 2021, 98% of placements were from the United States, with the majority of the placements in the mid-west (41%) with a $120,000 base salary. West leads other regions in base salary ($130,000).
| Region | % Hired | Base Salary |
|---|---|---|
| Mid-Atlantic | 8% | $110,000 |
| Midwest | 41% | $120,000 |
| Northeast | 14% | $125,000 |
| South | 5% | $101,250 |
| Southwest | 2% | N/A |
| West | 28% | $130,000 |
Reference