Tepper MBA - Class Profile, Funding, Salary & Curriculum

With 42% of the class from an Engineering background and a large percentage (23%) from diverse industries, Tepper MBA is a favorite for engineers and career switchers interested in transitioning from core technology to Consulting, General Management, and Product Management (Industrial).

In this in-depth analysis of the Tepper Full-time MBA program, we cover:

• Tepper Full-time MBA Class Profile
• Tepper Pre-MBA Education
• Tepper Pre-MBA Industry
• Tepper MBA Cost Breakdown
• Tepper Full-time MBA Scholarships and Financial Aid
• Tepper Full-time MBA Curriculum
• Tepper MBA - Global Concentrations
• Tepper Full-Time MBA Application Process
• Tepper Full-Time MBA Salary by Industry
• Tepper Full-Time MBA Salary by Function
• Tepper Full-Time MBA – US Placement Data (By location)

Tepper Full-time MBA Class Profile

The class size has been falling for all top US schools, reaching 171 for the 2025 class, from 231 for the Class of 2023 to 192 for the Class of 2024 despite an acceptance rate of 30-33%.

The class GPA averaged at 3.26 - within the 3.2 to 3.4 zone seen in 10-30 ranked global Business Schools. The class size is smaller compared to an M7 school, but the experience was higher (5.8 years) for a US school that typically has 3.5-4 years of experience for most of the entering class.

The women’s representation was the lowest for a top US School - 36%, while the international representation (53%) and diversity within the US (49% minorities) compensated for the shortfall.

Tepper Pre-MBA Education

Even though the Tepper MBA admissions team had debunked this common myth that most Tepper MBAs are engineers, engineering continues to dominate, with 42% of the class - after accommodating a surge in demand last year. Economics faced the most decline this year, falling to 8% of the class, while Math/Physical Science, Arts/Humanities, and Social Science have stabilized in the 5-6% range.

Tepper Pre-MBA Industry

The biggest surprise for the 2025 class was the 21% from the Hospitality/Tourism industry, indicating a big sheltering technique adopted by candidates from an industry that had been worst affected during the pandemic. The 16% from other industries also confirms Tepper’s strategy of diversifying the class by industry while keeping the focus mostly on Technology, Finance, and Consulting – three high-paying post-MBA industries.

Tepper MBA Cost Breakdown

Tuition Fee stands at $75,712; Health insurance is a one-time expense during fall at $2,816. Living expenses for housing, food, books, supplies, transportation, miscellaneous costs, and university fees remain unchanged, For Fall 2023, the total cost amounts to $92,806, while Spring 2024 shows a slight reduction to $89,990.

Tepper Full-time MBA Scholarships and Financial Aid

The scholarships at Tepper Full Time MBA program include Endowed Scholarship, ROTC Grant, 8 Fellowships, 2 Business Funds, along with several outside Scholarships. However, the financial aid outside scholarships is offered through three channels - Scholarships and Grants, Federal Loans, and Private Loans.
Scholarships and Grants are awarded to the students on a merit basis or on financial needs, which do not have to be repaid by students. Federal loans are the educational loans offered by the Federal government which must be repaid. Similarly, the Federal Grant is offered by the Federal Government to those students who need financial aid.

Tepper MBA Scholarship            

Tepper Full-time MBA Curriculum

Tepper MBA Course Schedule

Each year of the two-year MBA program at Tepper is divided into four durations. Each of these four durations is termed as Mini. The first year at Tepper consists of Mini 1, Mini 2, Mini 3, and Mini 4, each with five subjects. In addition to the working days, students are expected to leverage three breaks for gaining hands-on experiences and connections.

Experience Week and Winter Break are for Corporate Networking in collaboration with Club Treks and Spring break for Cultural Trips.

Mini 1 and Mini 2 sponsor leadership assessment debrief with a leadership coach, whereas Mini 3 and Mini 4 accelerate leadership coaching and immersion workshop.

With the conclusion of the first year of the Tepper MBA program, students prepare with MCC or Master Career Preparation for internships.

In the second year at Tepper School of Business, students follow almost a similar course schedule where they will have four Mini’s - Mini1, Mini 2, Mini3, and Mini 4.

Again, students get three breaks with the same experiential learning and networking opportunities, with the only difference in the subjects included in each mini (four instead of five). By the end of the course, the school accelerates Leadership coaching and immersion workshops. Finally, candidates are trained with MCC recruiting for full-time jobs.

Tepper MBA – Course Overview (Year 1)

Tepper MBA – Course Overview (Year 2)

Tepper MBA - Core Courses

Core Course at Tepper MBA begins with a deep dive into Analytics that builds a strong foundation to interpret Marketing, Finance, Operations, Economics, Accounting, Organizational Behavior, and Strategy.

Throughout the core curriculum, students apply and leverage analytical tools for optimization, perspective modeling, and predictive modeling.

Students are enrolled in the accelerated Leadership Center that provides customized leadership skill assessment, one on one coaching, and a personal leadership development map.

The required courses at Tepper include Analytics, Marketing, Finance, Operations, Accounting, Economics, Organizational Behavior, and Strategy.

From 200 electives+, students can customize their 2nd -year academic experience on 12 concentrations. These courses are an extension of the core courses and the concepts applied during internship.  

MBA tracks take a step further and allows students to specialize based on industry or career path. The learning tools are as diverse as exchange programs, capstone/experiential learning, consulting projects or management simulations.

Tepper Full-time MBA - Key Courses     

Concentrations

Tepper MBA - Global Concentrations

Global Concentration includes two major pathways - Global MBA Treks and Global Study Capstone Course.

With the Global Study Capstone course, students can opt for two different global experiential learning courses, while the Global Concentration focuses on gaining a broader perspective on global Businesses.

Global Treks

Global Treks are scheduled between the fall and spring semesters or during spring breaks, where trekkers gain both cultural and corporate experience. They organize meetings with local executives and alumni to gain insights into international business trends and practices. Some of the popular past Global trek destinations include China, Japan, Latin America, India, South Africa, Israel, Colombia, Morocco, and Dubai.

Global Study Capstone

MBA Capstone Courses are the four-week study abroad courses in which students must opt between Hong Kong and mainland China or Germany. The programs help students acquire deep knowledge about the business practices of the region. These programs include tours to the local companies and meetings with business leaders and their operations.

Germany Study Abroad: Students travel to Koblenz and Berlin in Germany and cover subjects such as:

• European Economic Integration
• Competing in European Markets
• Operations Management in Europe

Students also visit companies such as The European Central Bank, Steuler Group, Volkswagen, and Nestle, to further understand the business practices in Germany.

Hong-Kong China Study Abroad: For this program, in partnership with the Chinese University of Hong Kong, students travel to Macau, Shenzhen, and Guangzhou. The courses cover lending, entrepreneurship, and corporate governance in China with courses such as:

•  Bank Lending in China
•  Entrepreneurship in Asia
•  Comparison of China’s Equity Market
•  Corporate Governance in China.

Dual/Joint Degree

Tepper Dual and Joint Degree allow in-depth study with other renowned Carnegie Mellon colleges and cross-campus collaboration with other graduate students and the faculties. In total, there are 6 Dual and Joint Degree at Tepper.

Tepper Dual and Joint degree programs are offered in collaboration with 6 Carnegie Mellon colleges.      
 

MBA Tracks

Enrolling in Tepper MBA Track is optional. By joining the track, students combine 8 to 10 electives with a related capstone course. Some of the tracks also involve cross-campus interactions. The five areas of Business covered in the track include:

• Business Analytics
• Energy Business
• Entrepreneurship
• Management of Innovation and Product Development
• Technology Strategy and Product Management (Formerly Technology Leadership)

MBA Leadership Development

Leadership development at Tepper MBA is overseen by the Accelerate Leadership Centre with three rounds. The first round is the Core requirements that mandate that the individuals pass three assessments under the guidance of the coaches. The next round is the Leadership certification program or the Immersive Program, with several skill-building and coaching sessions that fine-tune the candidate’s learning, communication, and presentation skills. The final round is the Boundless Leadership Program, which further develops the leadership skills in three domains – self, local and global.

           
MBA Concentrations

With Tepper School of Business, candidates can customize their degree by selecting the concentrations based on post-MBA industry and function.
To complete the MBA program, students must complete at least one concentration, although students typically add three to four concentrations to their certificate.

MBA concentration is not declared. When students complete three or more electives in a subject, they are automatically considered a concentration.

13 MBA concentrations at Tepper School are:

• Accounting
• Business Technologies
• Communications
• Economics
• Entrepreneurship
• Finance
• Health care Analytics
• Marketing
• Operations Management
• Operations Research
• Organizational Behaviour
• Strategy
• Sustainability

MBA Capstone Courses

Capstones are intense, interactive courses that take place at the conclusion of the Tepper MBA Program. Working alongside firms or participating in a strategic management exercise are two options.

Management Game is available online; Strategic Management of the Enterprise is available to students who can attend classes on campus.

Management Game: Management Game is a strategic and general management activity that is used in the workplace. For three years, student teams operated computer-simulated firms as the executive committee of an international manufacturing corporation.

Strategic Management of the Enterprise: This capstone, offered in collaboration with A.T. Kearney and select sponsored firms, is an experiential learning course that exposes students to real-world challenges faced by managers.

Tepper Full-Time MBA Application Process

Tepper full-time MBA applications are evaluated in four rounds - October, January, March, and April.

With an application fee of $200, the applicant must submit all required documents – Resume, University Transcript, GMAT/GRE, and TOEFL/IELTS scores.
The other major part of the application is the Essay, which contribute significantly towards admissions. For all Tepper MBA applicants, there is one required essay.

Essay: There is one required essay (maximum 500 words) for all Tepper MBA applicants (except college seniors):

The Tepper community is dynamic and unique, with students who strive to be collaborative, supportive, and inclusive. Please provide an example of when you experienced or created an inclusive environment and how you will use that experience to help members of the community reach their full potential.

For international applicants, Certification of Financial Resources and Visa regulation is also required.

On successful acceptance of the application, candidates may be invited to interview with a member of the Tepper MBA admission team.

The components required for the Full-Time MBA application are:

• Online Application Form
• Current resume
• One required essay
• One professional recommendation
• Unofficial transcripts (all academics)
• Official GMAT, GRE, or EA score, or approved test waiver
• Official TOEFL or IELTS score (if applicable)
• $200 application fee

Tepper Full-Time MBA Salary by Industry

Consulting stands out, with 39.10% of graduates securing positions, offering a median base salary of $167,500, highlighting the program's emphasis on problem-solving and strategic thinking.

Financial services attracted 16.40% of Tepper MBAs, with a median base salary of $145,000.

The Biotechnology/Health/Pharmaceutical sector saw 6.20% of graduates enter the industry despite a low median base salary of $121,000 (by MBA standards). The demand could be the result of the pandemic-driven surge in interest in the healthcare industry.

Consumer products and manufacturing fields were chosen by 3.10% and 2.30% of graduates, respectively, with median salaries of $122,500 and $130,000.

Technology remained a popular choice, with 28.10% of graduates entering this sector at a median base salary of $139,000, offering the technology cohort who wants to continue in the industry with the right post-MBA orientation.

By Industry: 2022 vs. 2021

In 2022, Consulting maintained its popularity as a top choice, with 39.10% of graduates entering the industry, up from 33.7% in 2021. This growth is also reflected in the median base salary, which increased from $152,000 in 2021 to $167,500 in 2022.

The financial services sector saw an increase in hiring percentage, with 16.40% of graduates choosing this industry in 2022, compared to 12.6% in 2021. The median base salary also showed substantial improvement, rising from $125,000 in 2021 to $145,000 in 2022.

Technology remained a strong choice, with 28.10% of graduates entering the sector in 2022, consistent with 2021. The median base salary in technology increased from $130,000 in 2021 to $139,000 in 2022.

However, the biotechnology/health/pharmaceutical industry experienced a decline in hiring percentage, from 9.7% in 2021 to 6.20% in 2022, despite a slight increase in median base salary.

Consumer products and manufacturing also saw shifts in hiring percentages and median base salaries, with consumer products experiencing a boost in both areas while manufacturing faced a decline.

Tepper Full-Time MBA Salary by Function

With an impressive 40.60% of graduates entering the consulting sector, and a median base salary of $165,000, Tepper MBA compensation in the Consulting function was at par with top schools.

Investment banking attracted 7% of graduates, with a median base salary of $175,000. General Management and Marketing careers were pursued by 10.90% and 21.90% of graduates at a lower compensation of $131,300 and $136,600, respectively.

The Product Operation Management (POM) welcomed 6.20% of Tepper MBAs, with a median base salary of $127,500, aligning with the incoming engineering cohort’s post-MBA aspirations.

By Function: 2022 vs. 2021

In 2022, consulting remained a popular choice, with 40.60% of graduates entering the field, a notable increase from 37.1% in 2021. The median base salary for consultants also saw substantial growth, rising from $143,142 in 2021 to $165,000 in 2022.

However, Finance experienced a decrease in popularity, with 14.1% of graduates pursuing careers in finance in 2022, down from 21.1% in 2021. Despite the declining trend, the median base salary for finance professionals increased from $128,833 in 2021 to $140,000 in 2022.

General Management and Marketing also witnessed changes, with a decrease in the percentage of graduates entering these fields in 2022 compared to 2021. Nevertheless, the median base salaries, $131,300 and $136,600 respectively, showed slight improvements.

The operations industry experienced significant growth in both hiring percentage and median base salary, with 6.20% of graduates entering this field in 2022, up from 4% in 2021, and a median base salary of $127,500 in 2022 compared to $126,429 in 2021.

The 2022 Tepper MBA Employment trends reflect a shift towards Consulting and Operations, with increased median base salaries across several functions.

Tepper Full-Time MBA – US Placement Data (By Location)

In 2022, the Mid-West and West regions witnessed a rise in hiring percentages, with 11.60% and 24.80%, respectively, while the Mid-Atlantic and North East regions remained popular choices. Notably, the Mid-West recorded a higher median base salary of $170,000 in 2022 compared to $150,000 in 2021. The South and South West regions saw slight changes, while the North East reported a substantial increase in median base salary from $135,000 in 2021 to $149,750 in 2022.

Reference

Tepper Full-time MBA