Wharton MBA - Class Profile, Curriculum, Salary & Cost | F1GMAT MBA Admissions Consulting, Essay Editing and Interview Prep

Updated for the Class of 2028 | F1GMAT Research

The Wharton MBA is a 20-month program at the University of Pennsylvania that includes a 3.5-month summer internship with hubs in San Francisco and Beijing.

Consistently ranked among the top three M7 MBA programs, the Wharton MBA continues to attract diverse talent from technology, consulting and finance with candidates from humanities/social science background finding high representation for a top MBA. This updated MBA profile covers the Class of 2027 data across class composition, total cost, curriculum structure, and placement outcomes.

Wharton MBA Class Profile

Main Article: Wharton MBA Class of 2027 Profile – Complete Breakdown

From a record 7,613 applications, the Wharton MBA Class of 2027 enrolled 888 students.

The largest cohort in four years was achieved without compromising on the academic bar. The average GMAT (Classic) hit a record 735, up from 732 in the Class of 2026 and 728 in the Class of 2025. The average GMAT Focus score stands at 676, and the GRE averages are held at 163 Quant / 162 Verbal.

The Undergraduate GPA remained at 3.7 - still the highest among M7 schools.

Wharton MBA's Average work experience held steady at 5 years and falls in the middle of the range for the top 15 MBAs

Wharton MBA Women and International Representation

Two demographic shifts stand out.

Women's representation dropped to 44%, down from 47% in 2026 and 50% in 2025.

The trend is negative as the peak women's representation was 52% in 2023.

International students fell to 26%, a 10-year low, down from 31% in both prior cycles.

The decline in international enrollment mirrors a nationwide 17% drop in new international student enrollments across U.S. colleges, linked to stricter visa regimes and longer processing delays.

Students hailed from 68 countries, with U.S. domestic students comprising 74% of the class.

Wharton MBA Diversity

Diversity across other dimensions remained strong, with LGBTQ+ representation and first-generation college students gaining a clear advantage with 12% and 11% representation, respectively.

Military veterans at 6%.

Among U.S. students, Asian Americans represented 33%, White 41%, Black/African American 13%, and Hispanic/Latinx 9%.

Wharton MBA Professional Experience

Pre-MBA industry backgrounds showed consulting rising to 31% (up from 28%), while technology declined to 8%, continuing a two-year downward trend. Finance and private equity/venture capital held steady at 19%.

Wharton MBA Undergraduate Degrees

The academic mix remained balanced: 36% humanities, 32% business, and 32% STEM.

For applicants targeting the Class of 2028, Wharton is optimizing for well-rounded domestic profiles with clear impact milestones, while international candidates face steeper odds until the current republican administration remains in power.

Wharton MBA Cost

Main Article: Wharton MBA: Cost Breakdown and Funding Tips

For the 2025-26 academic year, the total cost of attending the Wharton MBA program has increased to $132,224 per year. The 3.53% rise from the previous year’s $127,716 takes the two-year total cost to the $255,000–$265,000 range.

Wharton MBA is now among the costliest M7 MBA programs, behind Chicago Booth and Stanford, but ahead of Harvard.

The most notable increase came from tuition, which jumped by $3,140 (a 3.70% increase) from $84,830 to $87,970.

Room and board expenses rose to $28,320 (a 2.49% increase), while health insurance premiums climbed by $250. Both real estate and health insurance cost increases continue to be the biggest deterrent to American cost-of-living equity.

The annual budget includes tuition ($87,970), University Fees ($4,670), room ($19,390), board ($8,930), and books, supplies, health insurance, and personal expenses ($11,264).

Expenses not included in the standard budget are Global Immersion Programs (GIP), Global Modular Courses (GMC), and the Fall Semester in San Francisco. Personal medical expenses not covered under insurance, child care expenses, and a one-time computer purchase allowance up to $2,000 are also not included in the total cost.

Over a four-year period (2022–23 to 2025–26), the total cost of attending Wharton grew from $118,568 to $132,224.

An overall 4-year increase of $13,656 or 11.52% matches the yearly 4.6% increase in Pennsylvania.

University fees saw the sharpest relative jump, rising 133.5% from $2,000 to $4,670 over that span.

Wharton MBA Funding

On the funding side, the Wharton Financial Aid Office and Student Financial Services (SFS) are the two primary sources of support.

Close to 30% of enrolled students receive financial aid, with the most common award falling in the $20,000 to $40,000 range.

Wharton’s fellowship program considers all admitted students automatically based on their admissions application. No separate application is required.

Named fellowships, such as the Joseph Wharton Fellowship and the Ford Fellowship, recognize exceptional profiles.

For international students, Wharton offers no-cosigner loans through Quorum Federal Credit Union.

Military veterans benefit from the Yellow Ribbon Program, with awards up to $20,000 matched by the VA.

Candidates who score above 750 on the GMAT are typically competitive for top fellowship awards.

The strategy for negotiating better funding often involves securing scholarship offers from peer schools as leverage.

Wharton MBA Curriculum

Source: Wharton MBA – Curriculum Analysis

The Wharton MBA curriculum is a two-year program designed to build a strong foundation in business through core courses, while 21 majors offer a wide array of specialization options.

What separates Wharton from peer M7 MBA programs is the structural flexibility baked into the program from day one.

The core curriculum requires 9.5 credit units (CU) and is split into a fixed core and a flexible core.

The fixed core consists of six required classes: Foundations of Teamwork and Leadership, Marketing Management, Operations Management, Microeconomic Foundations, Advanced Topics in Managerial Economics, and Regression Analysis for Managers. These courses ground every student in fundamental disciplines regardless of background.

Wharton MBA Flexible Core

The flexible core is where Wharton diverges from traditional MBA structures.

Instead of locking students into a rigid first-year schedule, the flexible segment offers broad course selection, even in unlikely niches like Operations and Accounting.

Students can postpone certain core classes to the second year while they prepare for an internship, pursue a Global Modular Course, or dive into niche specializations early. This design, unlike the more prescriptive approach at Harvard or the purely elective-driven model at Chicago Booth, allows Wharton students to calibrate their academic journey to match their pre-MBA experience and post-MBA ambitions.

Wharton MBA Double Majors

Wharton is one of the few top MBA programs that allows students to declare a major, with nearly 50% of MBA students choosing to double major. Students pick from 21 majors, including Finance, Marketing, Entrepreneurship & Innovation, Healthcare Management, Real Estate, and Quantitative Finance.

STEM-designated Majors

Six STEM-designated majors: Business Analytics, Business Economics and Public Policy, Business Energy Environment and Sustainability, Operations Information and Decisions, Quantitative Finance, and Statistics carry particular weight for international students, qualifying them for a 36-month STEM OPT work extension compared to the standard 12 months, a critical advantage in a tightening visa environment.

Electives provide the final layer of customization.

Wharton MBA Courses from UPenn Schools

Students can choose from nearly 200 courses across 10 academic departments at Wharton and take up to four courses at other University of Pennsylvania schools, including Law, Medicine, Engineering, and Design.

Wharton’s curriculum extends beyond the classroom through experiential learning: the Learning Team model places first-year students into diverse teams of five or six peers for academic projects.

Wharton MBA International Projects

Global Modular Courses offer international experiential learning during winter, summer, and spring breaks in economies undergoing rapid transformation.

The Global Immersion Program provides week-long to 11-day intensive international study tours, but the pre-visit preparation can last 6 weekly academic sessions, during the quarter preceding the actual visit.

Wharton’s San Francisco campus offers a one-semester immersion option.

Wharton MBA Joint Degree Programs

For students seeking interdisciplinary depth, Wharton offers an extensive portfolio of dual degree programs. The MBA/MA Lauder joint degree combines international studies with foreign language skills. The MBA/JD is a 3-year program pairing Wharton’s MBA with Penn Law. The Healthcare Management concentration adds a specialized track within the MBA.

Joint Degree at Wharton MBA Outside Penn

Beyond Penn, Wharton partners with Johns Hopkins SAIS for a 3-year MBA/MA in international studies, and with Harvard Kennedy School for MBA/MPA and MBA/MPP programs in public policy.

Out of 888 enrolled students in the Class of 2027,18% opted for joint degree tracks, Lauder, Healthcare Management, JD/MBA, and the Moelis Advance Access Program for deferred admission.

Wharton has also invested heavily in AI-focused MBA coursework across its curriculum.

Wharton MBA Salary and Placements

Wharton MBA Salary By Industry

Main Article: Wharton MBA Salary: By Industry (2025)

Financial services continued to lead Wharton MBA hiring at 36.6%. The median base salary in Finance was stuck at $175,000, which mirrored trends at peer schools like Chicago Booth (32.9%, $175,000) and MIT Sloan (25.3%, $175,000).

Within financial services, investment banking and private equity continued to attract the largest clusters of Wharton graduates.

Consulting accounted for 25.2% of hires. The 3% drip from the previous year didn't come with an improved salary. The median base salary for Consulting remained stagnant at $175,000.

Technology saw 14.1% of graduates hired, aligning closely with Booth but trailed Stanford (22%) and MIT (19%).

Wharton’s technology median base salary held at $162,750.

Healthcare hiring remained stable at 5% with a salary increase to $163,000.

Legal and professional services posted the highest median salary at $225,000, though it represented just 2.1% of hires.

Wharton MBA Salary By Job Function

Main Article: Wharton MBA Salary: By Job Function (2025)

Consulting/Strategy remained the top functional choice for Wharton MBA graduates through the 2025 cycle. The strong consulting cohort pulling in one-third of the class into strategy and advisory roles, is a continuation of a 3-year trend.

The total salary for consulting hires, base plus signing bonus, hovered around $205,000. From an M7 MBA benchmark, total salary is within the range.

Investment Banking retained its distinct position among Wharton candidates, although not as dominating as the placements in Columbia, NYU Stern or Wharton MBA.

Private Equity/Venture Capital continued its upward trajectory, with the function now attracting roughly 15% of the class. The function offers the highest base salaries at Wharton.

Product Management and General Management together represented a meaningful share, though the technology-oriented functions saw modest pressure from uneven tech-sector hiring.

Corporate Finance, Operations/Supply Chain, and Business Development filled out the mid-tier functions.

The least common functions included sales and trading, sustainability, research, and human capital, each attracting less than 1% of offers.

Wharton MBA Salary By Job Location

Main Article: Wharton MBA Salary: By Job Location (2025)

Wharton’s employment report highlights strong domestic demand, with the Northeast remaining the dominant hiring region.

New York City consistently recruits the largest share of Wharton graduates (around 30% of the class).

Financial services, consulting, and media firms concentrated in the region influences this placement as Philadelphia has limited high-value post-MBA salary.

San Francisco and the broader West Coast follow as the second-most popular destination, attracting graduates headed into technology, venture capital, and product management roles.

The Southwest and Mid-Atlantic regions showed increasing opportunities. The technology ecosystem has migrated steadily towards tech hubs in the region to avoid taxes. A supportive southern financial centers have also emerged to manage the real-estate transactions, associated with the emerging technology clusters in the region.

Internationally, approximately 10–13% of the class accepted positions outside the U.S. Asia, and Europe split the bulk of international placements, with China, the UK, and various European markets drawing the most hires.

The Middle East and Latin America represented smaller but consistent pockets of demand.

For the total salary comparison across Top 30 US MBA programs, Wharton’s $205,000 total median salary matches Harvard, Columbia, NYU Stern, Darden, and Tuck, while Stanford leads at $215,000. Salary growth across M7 programs has largely stagnated, with no school posting increases above 1% in the most recent cycle – hinting at market stabilization.