I will teach you how to bring your life stories to essays faster with F1GMAT's essay guides. Download below or subscribe to F1GMAT's Service and work with me - Atul Jose, Author/Editor/Founding Consultant, F1GMAT(16 Years of helping applicants gain admissions to M7 and Top 30 schools) For the 2024 Entering Class, the total cost of a Full-time MBA has stabilized in the $240,000 to $260,000 range, while most top 10 schools could attract offers in the $213,000 to $205,000 total median salary range.
In this breakdown of the Top 30 US MBA programs, we cover:
- Top 10 US MBA - By Total Salary
- Top Affordable US MBA Programs
- Costliest US MBA Program – From the Best 30
- Best 30 US MBA – Total Cost and Total Salary (2025)
Top 10 US MBA - By Total Salary
Chicago Booth stands first with a $213,000 total median salary, followed by Stanford with $212,500. Columbia earned the third position with a total salary of $206,000. In the fourth position, Harvard, NYU Stern, Wharton, Kellogg, Ross, Cornell, Fuqua, Yale, Darden, and Tuck are tied with a total median salary of $205,000.
Wharton showed an impressive and the highest hike in Salary growth of 17%.
Fuqua, Yale, and Kellogg, all three schools tied at second position with a 7% hike for each.
| Rank | Business School Name | Total Salary (2023) | Total Salary (2022) | Percentage Increase |
| 1 | University of Chicago Booth School of Business | $213,000 | $205,000 | 4% |
| 2 | Stanford Graduate School of Business | $212,500 | $205,000 | 3.4% |
| 3 | Columbia Business School | $206,000 | $205,000 | .5% |
| 4 | Harvard Business School | $205,000 | $205,000 | 0 |
| 4 | NYU Stern School of Business | $205,000 | $205,000 | 0 |
| 4 | Wharton Business School (Base Salary) | $205,000 | $175,000 | 17% |
| 4 | Kellogg School of Management | $205,000 | $1950,00 | 7% |
| 4 | Ross School of Business | $205,000 | $1950,00 | 5% |
| 4 | Johnson Graduate School of Business (Cornell) | $205,000 | $193,000 | 6% |
| 4 | Fuqua School of Business | $205,000 | $190,000 | 7% |
| 4 | Yale School of Management | $205,000 | $190,000 | 7% |
See the Salary Trends
- M7 and T20 MBA Salary Trends
- Harvard MBA Salary Trends
- Stanford MBA Salary Trends
- Wharton MBA Salary Trends
- Chicago Booth MBA Salary Trends
- Kellogg MBA Salary Trends
- Columbia MBA Salary Trends
- MIT Sloan MBA Salary Trends
- Haas MBA Salary Trends
- Yale MBA Salary Trends
- NYU Stern MBA Salary Trends
- Tuck MBA Salary Trends
- Darden MBA Salary Trends
- Duke Fuqua MBA Salary Trends
- Ross MBA Salary Trends
- Cornell MBA Salary Trends
- LBS MBA Salary Trends
Top Affordable US MBA Programs (Total Cost ~ Total Salary in Year One)
We consider affordable schools as those offering their full-time MBA program at less than $165,000 total cost and attract offers with a total salary in the $130,000 to $165,000 range. With this criterion, we have shortlisted schools on the affordability index – a ratio of the total cost to the total salary.
Kelley School of Business has shown the biggest difference between total salary and cost, where the salary is $67,000 more than the total cost. In the second place, Foster School of Business has offered a salary of $35,000 more than the cost. McCombs School of Business, in third position, offers a salary of $34,000 more than the total cost.
In the list of affordable US MBA programs, Broad College is the only school that offers a lower salary than the total cost, where the salary is $20,000 less than the cost. This difference has been witnessed after the school increased the total cost by 38% for the 2024-25 session.
We also have a special mention in sixth position, Smeal College of Business, which offers a one-year MBA program and beats all the schools in salary-to-cost ratio, i.e., offers a salary 2.7 times the total cost of the program.
| Rank | Business School Name | Total Cost (2024) | Total Salary (2024) |
| 1 | Kelley School of Business | $111,552 | $178,132 |
| 2 | Foster School of Business | $160,032 | $195,859 |
| 3 | McCombs School of Business | $156,036 | $190,650 |
| 4 | Carlson School of Management | $141,076 | $149,172 |
| 5 | Broad College of Business | $150,876 | $130,000 |
| 6 | Smeal College of Business (one year program) | $53,786 | $144,000 |
Costliest US MBA Program – From the Best 30
Following the pandemic, several business schools stabilized their overall costs, but after 2 years of the pandemic, business schools have exponentially increased their tuition costs, ranging from as low as 1% to the highest at 38%.
Stanford became the costliest MBA program at $261,492, with a 5.1% hike in the total cost. Other schools on the list with the high salaries are Dartmouth Tuck ($260,000), Columbia Business School ($254,116), Wharton Business School ($254,028), NYU Stern School of Business ($253,748), MIT ($250,978), and UCLA Anderson School of Management ($244,741).
Among all the Business schools on the list of the costliest MBA, Wharton has the highest percentage increase in cost with an 8% hike followed by Stanford with a 5.1% hike, and Tuck and MIT each with 4% and 4.5% hikes respectively. UCLA Anderson with 1.7% hike had the least increase in the cost.
| Rank | Business School | Total Cost (2024) | Total Cost (2023) | Percentage Increase |
| 1 | Stanford Graduate School of Business | $261,492 | $248,778 | 5.1% |
| 2 | Dartmouth Tuck | $260,000 | $238,908 | 4% |
| 3 | Columbia Business School | $254,116 | $244,920 | 3.5% |
| 4 | Wharton Business School | $254,028 | $235,136 | 8% |
| 5 | NYU Stern School of Business | $253,748 | $246,506 | 2.9% |
| 6 | MIT Sloan School of Management | $250,978 | $239,990 | 4.5% |
| 4 | UCLA Anderson School of Management | $244,741 | $240,472 | 1.7% |
Best 30 US MBA – Total Cost and Total Salary (2025)
For the 2024-25 session, the costs have increased from 5 to 15% compared to 2023-24 season. Even schools in the 20-30 rank have moved away from cost-advantages and pushed for an ROI metric even with 30-40% hike in cost, like Paul Merage School of Business’ 32% hike and Broad College of Business’s 38% hike.
The schools in the T30 list are soon realizing that a Full-time MBA in the US is turning into a luxury market with impressive $150,000 and above salary that even the best European schools can’t offer.
Moving away from cost USP, schools are now leveraging the network and strong placements in Finance in 2023-24 to their advantage.
Schools that strategically increased the costs in 2022 and 2023 have limited the hike to less than 1% while schools that are matching the inflationary trends have continued to hike the cost in the 5-8% range.
Only Darden and Fuqua went beyond the 10% range among T20 schools.
However, ranking is not just about costs. The total salary also experienced impressive hikes – all T20 experiencing 5-10% hikes, matching the increase in costs.
Once the Technology and Consulting industries stabilizes, applicants can expect to earn a handsome return which now is benchmarked at 3 years for any positive return when considering the opportunity costs as well.
2025 Entering class is likely to find a market that is less volatile compared to 2024. We are expecting the total salary to match the total cost soon with Employers increasingly becoming selective and prioritizing specialist schools before considering other schools, even for T10 and T20 schools. This consolidation will lead to further discrepancies in salary among T10, T20, and T30 schools.
Right now, the difference between T10 and T20 MBA total salary is in the range of $20,000 - $30,000, and between T10 and T30 is in the range of $50,000 to $70,000. This difference is likely to increase in the coming years, and competition to T10 schools would increase to earn that $30,000 to $50,000 differential that could determine the 20-30 year earning potential post-MBA.
Related Downloads (Essay Guides with Curriculum Analysis and Essay Examples)
- Harvard MBA Essay Guide
- Stanford MBA Essay Guide
- Wharton MBA Essay Guide
- Chicago Booth MBA Essay Guide
- Kellogg MBA Essay Guide
- Columbia MBA Essay Guide
- MIT Sloan MBA Essay Guide
| Rank | Business School Name | Total Salary 2024 | Total Cost 2024 | % Increase in Cost (2023-2024) |
| 1 | University of Chicago Booth School of Business | $213,000 | $241,720 | 5.3% |
| 2 | Stanford Graduate School of Business | $212,500 | $261,492 | 5.1% |
| 3 | Columbia Business School | $206,000 | $254,116 | 3.5% |
| 4 | Harvard Business School | $205,000 | $237,708 | 6.5% |
| 4 | NYU Stern School of Business | $205,000 | $253,748 | 2.9% |
| 4 | Wharton Business School (Base Salary) | $205,000 | $254,028 | 8% |
| 4 | Kellogg School of Management | $205,000 | $238,864 | 1.8% |
| 4 | Ross School of Business | $205,000 | $196,300 | 3.5% |
| 4 | Johnson Graduate School of Business | $205,000 | $214,422 | -0.3% |
| 4 | Fuqua School of Business | $205,000 | $221,644 | 10% |
| 4 | Yale School of Management | $205,000 | $238,220 | 9.4% |
| 4 | Darden School of Business | $205,000 | $228,026 | 12.6% |
| 4 | Dartmouth Tuck | $205,00 | $260,000 | 4% |
| 5 | Haas School of Business | $203,000 | $223,572 | 4.3% |
| 6 | MIT Sloan School of Management | $200,000 | $250,978 | 4.5% |
| 7 | McDonough School of Business | $192,581 | $207,026 | 4.7% |
| 8 | Tepper School of Business | $192,175 | $214,168 | 5% |
| 9 | McCombs School of Business | $190,650 | $156,036 | 3.4% |
| 10 | USC Marshall School of Business | $187,532 | $204,400 | 4.3% |
| 11 | Jones Graduate School of Business | $186,500 | $203,000 | 7.7% |
| 12 | UNC Chapel Hill Kenan-Flagler Business School | $181,334 | $168,468 | 1.1% |
| 13 | Foster School of Business (Base Salary) | $181,000 | $160,032 | 15% |
| 14 | UCLA Anderson School of Management | $180,000 | $244,741 | 1.7% |
| 15 | Kelley School of Business | $178,132 | $111,552 | 1.1% |
| 16 | Mendoza College of Business | $172,098 | $189,196 | 11.6% |
| 17 | Carlson School of Management | $149,172 | $141,076 | 3.4% |
| 18 | BU Questrom School of Business | $145,000 | $179,874 | 4.1% |
| 19 | Smeal College of Business (one year) | $144,000 | $53,786 | 12.4% |
| 20 | UC Davis Graduate School of Business | $143,419 | $164,362 | 0.2% (negative) |
| 21 | Paul Merage School of Business | $138,000 | $181,510 | 32% |
| 22 | Broad College of Business | $130,000 | $150,876 | 38% |
T15 Essay Guides
• Tuck MBA Essay Guide
• NYU Stern MBA Essay Guide
• Haas MBA Essay Guide
Need help finding the right MBA program that fits your budget and meets your post-MBA goals?
Subscribe to F1GMAT’s Career Planning Service if you want to refine your career goals, find funding options, and shortlist schools that meet your ROI goals.
