Posted by: Adam McCann

Students who pursue MBA degrees tend to do very well financially, with the average salary for a recent graduate at around $150,000. Even though tuition can be expensive, over $70,000 per year at some top schools, the return on investment for an MBA program is usually very high. For example, the Princeton Review estimates that Stanford University’s 10-year ROI for MBA graduates is 325%.

In addition, MBA programs can provide a host of other benefits for students. Students report increased confidence in their skills, the ability to put their knowledge to work in new industries, and better networking capabilities.

Not all MBA programs are equal, however. The ideal program provides the combination of a high return on investment, quality instruction, and a good personal experience. To determine the best MBA programs in the U.S., WalletHub compared nearly 100 schools across 10 key metrics. Our data set ranges from the annual tuition for students and the average base salary for graduates to gender diversity, ratings from professors and average GMAT scores. Read on for our findings, along with additional commentary from a panel of experts and a full description of our methodology.

1. Main Findings
2. Detailed Findings
3. Ask the Experts
4. Methodology

Main Findings Embed on your website<iframe src="//d2e70e9yced57e.cloudfront.net/wallethub/embed/65432/geochart-mba.html" width="556" height="347" frameBorder="0" scrolling="no"></iframe> <div style="width:556px;font-size:12px;color:#888;">Source: <a href="https://ift.tt/2o5WtpK>

Top MBA Programs

Overall Rank (1 = Best)	MBA Program	Total Score	‘Return on Investment’ Rank	‘Student Selectivity & Program Quality’ Rank	‘Campus Experience’ Rank
1	Stanford University	83.91	2	1	12
2	Harvard University	78.69	14	2	29
3	University of Pennsylvania (Wharton)	76.58	12	3	45
4	University of Chicago (Booth)	75.89	16	4	56
5	Massachusetts Institute of Technology (Sloan)	75.54	3	6	38
6	University of California--Berkeley (Haas)	74.28	9	7	41
7	Northwestern University (Kellogg)	73.85	19	5	43
8	University of Southern California (Marshall)	73.03	5	9	49
9	Columbia University	72.47	20	8	33
10	Yale University	71.16	21	10	20
11	University of Michigan--Ann Arbor (Ross)	70.78	6	11	48
12	University of Washington (Foster)	69.72	1	23	83
13	Duke University (Fuqua)	69.34	4	13	58
14	New York University (Stern)	68.49	7	14	57
15	University of Virginia (Darden)	67.89	8	18	27
16	Dartmouth College (Tuck)	67.51	15	15	47
17	Indiana University (Kelley)	65.17	18	19	66
18	University of California--Los Angeles (Anderson)	65.07	25	16	60
19	University of Wisconsin--Madison	63.48	29	17	65
20	Georgetown University (McDonough)	63.40	22	25	68
21	Cornell University (Johnson)	62.64	13	37	73
22	Washington University in St. Louis (Olin)	61.98	45	12	25
23	Rice University (Jones)	61.68	28	22	85
24	University of Florida (Warrington)	61.57	17	47	62
25	Brigham Young University (Marriott)	60.99	11	44	84
26	University of Texas--Austin (McCombs)	60.95	24	38	75
27	University of Rochester (Simon)	60.77	32	24	54
28	Carnegie Mellon University (Tepper)	60.25	26	36	81
29	Georgia Institute of Technology (Scheller)	60.10	10	60	80
30	Ohio State University (Fisher)	59.52	35	26	78
31	University of Georgia (Terry)	59.28	38	27	23
32	University of North Carolina--Chapel Hill (Kenan-Flagler)	58.74	23	58	82
33	University of Minnesota--Twin Cities (Carlson)	58.03	31	42	77
34	Vanderbilt University (Owen)	57.96	34	33	89
35	Michigan State University (Broad)	57.88	36	46	18
36	University of Notre Dame (Mendoza)	57.71	33	41	92
37	Pennsylvania State University--University Park (Smeal)	57.71	27	53	69
38	Arizona State University (Carey)	56.98	39	35	53
39	Southern Methodist University (Cox)	56.65	40	32	42
40	University of Arizona (Eller)	56.41	55	20	17
41	University of Maryland--College Park (Smith)	56.20	37	40	86
42	University of California--Irvine (Merage)	55.28	51	29	28
43	Boston College (Carroll)	55.12	47	31	59
44	University of Pittsburgh (Katz)	54.99	48	39	15
45	University of Texas--Dallas	53.32	49	49	40
46	Boston University (Questrom)	53.25	50	43	34
47	North Carolina State University (Poole)	52.72	44	52	71
48	Texas A&M University--College Station (Mays)	52.47	41	48	91
49	Iowa State University	52.10	54	54	4
50	CUNY Bernard M. Baruch College (Zicklin)	51.07	46	68	21
51	University of California--Davis	51.01	43	64	63
52	University of Arkansas--Fayetteville (Walton)	50.51	72	30	13
53	University of Connecticut	49.90	56	56	55
54	University of Oklahoma (Price)	49.90	60	50	76
55	University of South Carolina (Moore)	49.66	79	21	35
56	University of Tennessee--Knoxville (Haslam)	49.64	42	69	87
57	Purdue University--West Lafayette (Krannert)	48.99	64	55	31
58	William & Mary (Mason)	48.70	52	67	36
59	Northeastern University	48.52	53	74	10
60	University of Miami	48.31	74	28	72
61	University of California--Riverside (Anderson)	48.26	58	70	9
62	Babson College (Olin)	47.63	68	62	3
63	Rutgers, The State University of New Jersey--Newark and New Brunswick	47.24	59	65	74
64	Howard University	47.15	30	90	22
65	Clemson University	46.70	62	73	24
66	University at Buffalo School of Management, The State University of New York	46.11	78	51	8
67	University of Utah (Eccles)	45.57	73	45	90
68	University of Alabama (Manderson)	45.18	66	71	61
69	Fordham University (Gabelli)	45.07	57	80	51
70	Syracuse University (Whitman)	44.63	86	57	2
71	University of Missouri (Trulaske)	44.54	61	84	16
72	Baylor University (Hankamer)	44.40	70	72	14
73	Louisiana State University--Baton Rouge (Ourso)	43.99	67	78	11
74	George Washington University	43.87	65	81	50
75	Drexel University (LeBow)	43.01	63	86	7
76	Case Western Reserve University (Weatherhead)	42.19	82	61	64
77	University of Massachusetts--Amherst (Isenberg)	42.18	90	34	67
78	University of Louisville	41.88	69	82	1
79	University of Kentucky (Gatton)	41.42	88	59	19
80	University of Kansas	41.33	75	77	26
81	Binghamton University--SUNY	40.36	84	66	39
82	University of Colorado--Boulder (Leeds)	39.36	77	76	88
83	Chapman University (Argyros)	38.96	80	79	32
84	Pepperdine University (Graziadio)	36.73	89	75	46
85	University of Houston (Bauer)	36.40	85	83	70
86	University of Delaware (Lerner)	35.63	87	88	6
87	University of Denver (Daniels)	35.60	81	87	79
88	Northern Arizona University (Franke)	34.21	71	92	30
89	American University (Kogod)	33.95	83	89	37
90	College of Charleston	33.37	76	91	52
91	University of San Diego	32.81	92	63	44
92	Rochester Institute of Technology (Saunders)	31.86	91	85	5

Detailed Findings

MBA Program	Average Base Salary	Average Signing Bonus	Employment Rate	Total Tuition & Fees	Average GMAT Score	Average GPA	Average Ratings from Professors	Gender Diversity	Share of International Students	Average Years of Work Experience
Stanford University	$145,559	$31,146	88.0%	$72,396	732	3.73	4.79	0.52	42%	4.0
Harvard University	$140,000	$25,000	89.0%	$74,618	730	3.71	4.49	0.52	37%	4.6
University of Pennsylvania (Wharton)	$135,000	$25,000	94.6%	$78,948	732	3.60	4.39	0.51	33%	5.0
University of Chicago (Booth)	$130,000	$25,000	95.5%	$75,784	731	3.60	4.39	0.51	30%	5.0
Massachusetts Institute of Technology (Sloan)	$135,000	$34,037	93.6%	$76,712	728	3.48	4.24	0.51	38%	4.9
University of California--Berkeley (Haas)	$127,571	$29,212	93.4%	$60,988	726	3.67	3.81	0.51	42%	5.4
Northwestern University (Kellogg)	$128,948	$29,911	92.5%	$74,974	732	3.60	4.09	0.50	34%	5.1
University of Southern California (Marshall)	$122,634	$33,065	96.0%	$63,586	705	3.50	4.13	0.50	30%	5.0
Columbia University	$130,924	$33,891	90.0%	$79,209	732	3.60	3.86	0.52	42%	5.0
Yale University	$126,390	$34,239	89.8%	$71,620	724	3.67	3.53	0.51	45%	4.8
University of Michigan--Ann Arbor (Ross)	$126,500	$32,807	93.5%	$63,974	720	3.50	3.69	0.51	32%	5.0
University of Washington (Foster)	$118,355	$38,695	99.0%	$33,327	696	3.31	3.55	0.51	27%	6.1
Duke University (Fuqua)	$130,687	$33,932	94.0%	$72,012	704	3.49	3.53	0.51	38%	5.6
New York University (Stern)	$129,059	$35,637	93.7%	$75,850	716	3.45	3.50	0.55	39%	5.3
University of Virginia (Darden)	$127,767	$35,430	92.0%	$67,500	717	3.50	3.21	0.53	31%	4.0
Dartmouth College (Tuck)	$130,022	$32,148	92.0%	$76,149	722	3.49	3.36	0.51	36%	5.3
Indiana University (Kelley)	$108,164	$25,000	95.0%	$29,224	677	3.38	3.66	0.56	30%	5.0
University of California--Los Angeles (Anderson)	$121,843	$29,912	88.7%	$59,866	719	3.50	3.29	0.55	33%	5.0
University of Wisconsin--Madison	$98,463	$21,182	93.0%	$20,444	670	3.43	3.75	0.55	27%	5.0
Georgetown University (McDonough)	$116,946	$31,036	93.8%	$59,734	693	3.34	3.45	0.59	42%	5.6
Cornell University (Johnson)	$126,353	$33,503	91.0%	$66,290	699	3.41	3.00	0.56	27%	5.0
Washington University in St. Louis (Olin)	$107,592	$19,072	87.9%	$61,235	693	3.47	3.83	0.51	31%	4.1
Rice University (Jones)	$113,287	$25,589	94.5%	$61,383	706	3.30	3.56	0.57	24%	5.4
University of Florida (Warrington)	$104,500	$19,700	95.7%	$13,237	685	3.55	2.61	0.58	13%	3.4
Brigham Young University (Marriott)	$105,374	N/A	92.0%	$12,954	680	3.49	2.81	0.66	17%	4.0
University of Texas--Austin (McCombs)	$119,036	$29,929	85.9%	$41,472	702	3.48	2.81	0.53	29%	5.5
University of Rochester (Simon)	$104,000	$25,000	93.0%	$47,962	666	3.50	3.29	0.55	43%	5.5
Carnegie Mellon University (Tepper)	$120,382	$31,574	89.7%	$66,852	690	3.40	3.11	0.60	34%	5.6
Georgia Institute of Technology (Scheller)	$112,729	$21,246	97.0%	$31,248	681	3.30	2.94	0.52	15%	5.0
Ohio State University (Fisher)	$97,626	$21,360	93.0%	$31,139	676	3.44	3.32	0.56	29%	5.4
University of Georgia (Terry)	$95,460	$14,325	90.2%	$16,340	665	3.53	3.14	0.53	25%	3.3
University of North Carolina--Chapel Hill (Kenan-Flagler)	$116,543	$28,130	92.2%	$49,060	702	3.34	2.74	0.59	24%	5.0
University of Minnesota--Twin Cities (Carlson)	$113,093	$25,192	85.2%	$41,291	690	3.42	2.96	0.56	18%	4.6
Vanderbilt University (Owen)	$111,168	$26,415	90.0%	$59,250	680	3.30	3.47	0.58	16%	5.4
Michigan State University (Broad)	$105,963	$19,357	87.0%	$31,867	668	3.30	3.30	0.55	29%	3.1
University of Notre Dame (Mendoza)	$111,850	$22,012	91.0%	$54,120	670	3.30	3.36	N/A	N/A	5.1
Pennsylvania State University--University Park (Smeal)	$106,100	$20,306	92.0%	$26,548	657	3.40	2.91	0.55	30%	5.2
Arizona State University (Carey)	$100,303	$16,696	87.3%	$29,350	694	3.53	2.83	0.52	38%	5.4
Southern Methodist University (Cox)	$103,000	$18,236	89.5%	$52,230	653	3.40	3.42	0.58	N/A	5.0
University of Arizona (Eller)	$93,244	$15,222	80.8%	$24,900	665	3.44	3.58	0.53	50%	4.7
University of Maryland--College Park (Smith)	$104,966	$22,132	90.0%	$47,081	638	3.22	3.75	0.56	36%	6.6
University of California--Irvine (Merage)	$96,297	$19,523	85.0%	$45,288	668	3.52	3.14	0.53	45%	5.0
Boston College (Carroll)	$107,554	$17,200	83.0%	$51,200	641	3.35	3.63	0.52	22%	4.5
University of Pittsburgh (Katz)	$88,000	$11,861	91.0%	$26,632	621	3.31	3.68	0.52	48%	4.6
University of Texas--Dallas	$90,596	$8,875	88.0%	$19,150	675	3.40	3.00	0.50	36%	5.0
Boston University (Questrom)	$93,387	$17,308	91.0%	$54,900	681	3.30	3.25	0.51	39%	5.0
North Carolina State University (Poole)	$93,016	$12,324	90.0%	$24,509	625	3.35	3.24	0.52	23%	5.1
Texas A&M University--College Station (Mays)	$101,878	$13,774	89.0%	$40,896	643	3.33	3.36	0.76	22%	5.2
Iowa State University	$66,656	$5,167	100.0%	$12,914	610	3.54	2.88	0.51	42%	3.0
CUNY Bernard M. Baruch College (Zicklin)	$97,441	$7,068	87.0%	$18,199	637	3.37	2.74	0.50	37%	4.4
University of California--Davis	$99,569	$16,819	88.0%	$39,569	671	3.20	3.00	0.55	48%	6.3
University of Arkansas--Fayetteville (Walton)	$68,163	$8,900	85.7%	$17,016	650	3.67	2.90	0.57	18%	1.8
University of Connecticut	$96,750	$15,000	75.0%	$16,256	617	3.50	2.93	0.53	52%	6.3
University of Oklahoma (Price)	$75,025	$5,775	92.3%	$17,000	637	3.43	3.15	0.68	7%	2.5
University of South Carolina (Moore)	$82,694	$13,929	70.6%	$23,165	651	3.50	3.52	0.54	29%	4.0
University of Tennessee--Knoxville (Haslam)	$100,438	$13,163	85.4%	$25,084	656	3.48	2.35	0.57	9%	4.7
Purdue University--West Lafayette (Krannert)	$86,826	$13,879	80.0%	$22,418	633	3.26	3.37	0.56	55%	5.4
William & Mary (Mason)	$90,052	$13,000	87.0%	$33,466	620	3.30	3.04	0.58	40%	4.3
Northeastern University	$89,029	$12,308	93.0%	$50,038	627	3.30	2.85	0.51	33%	3.3
University of Miami	$78,453	$14,111	84.0%	$49,804	732	3.35	3.12	0.55	25%	5.0
University of California--Riverside (Anderson)	$80,902	$12,264	90.0%	$29,970	611	3.29	3.05	0.56	43%	3.3
Babson College (Olin)	$96,485	$14,190	83.0%	$69,520	619	3.06	3.76	0.56	80%	5.0
Rutgers, The State University of New Jersey--Newark and New Brunswick	$87,652	$17,361	83.0%	$30,550	664	3.28	2.84	0.55	26%	5.1
Howard University	$103,164	$18,364	95.0%	$35,786	485	3.20	2.78	0.50	16%	3.0
Clemson University	$71,165	$6,069	95.0%	$19,802	558	3.40	3.07	0.51	1%	2.0
University at Buffalo School of Management, The State University of New York	$61,301	$6,075	88.0%	$18,898	592	3.41	3.38	0.59	21%	1.5
University of Utah (Eccles)	$80,991	$8,750	80.4%	$30,500	659	3.48	2.95	0.66	10%	4.4
University of Alabama (Manderson)	$68,870	$5,264	92.0%	$14,071	650	3.60	2.10	0.55	1%	2.8
Fordham University (Gabelli)	$100,000	$24,000	77.0%	$48,438	657	3.20	2.64	0.51	37%	5.4
Syracuse University (Whitman)	$80,964	N/A	71.4%	$48,038	630	3.32	3.25	0.53	58%	2.8
University of Missouri (Trulaske)	$71,540	$6,132	93.6%	$14,922	606	3.42	2.32	0.64	20%	1.5
Baylor University (Hankamer)	$71,706	$5,188	95.0%	$45,942	607	3.43	2.73	0.51	17%	2.6
Louisiana State University--Baton Rouge (Ourso)	$63,911	$7,250	93.5%	$18,400	601	3.40	2.59	0.51	11%	2.0
George Washington University	$96,363	$13,396	83.0%	$52,785	611	3.20	2.92	0.56	39%	5.0
Drexel University (LeBow)	$87,000	N/A	83.0%	$42,667	577	3.17	2.91	0.52	47%	4.0
Case Western Reserve University (Weatherhead)	$81,881	$11,938	74.4%	$40,960	623	3.20	3.50	0.60	37%	5.1
University of Massachusetts--Amherst (Isenberg)	$73,357	$6,786	65.0%	$14,778	639	3.75	2.70	0.50	20%	5.0
University of Louisville	$62,000	$2,000	100.0%	$32,000	623	3.40	2.36	N/A	N/A	2.0
University of Kentucky (Gatton)	$60,111	$4,708	84.0%	$34,111	634	3.53	2.74	0.57	3%	1.2
University of Kansas	$67,000	$16,333	80.0%	$20,000	590	3.30	2.95	0.54	5%	2.0
Binghamton University--SUNY	$65,043	$5,038	79.0%	$17,205	592	3.50	2.78	0.52	12%	3.1
University of Colorado--Boulder (Leeds)	$80,049	$11,857	75.4%	$27,254	610	3.30	2.83	0.55	8%	5.0
Chapman University (Argyros)	$70,492	$51,500	70.0%	$49,894	625	3.41	2.38	0.52	41%	5.0
Pepperdine University (Graziadio)	$78,380	$13,601	71.0%	$49,750	600	3.20	3.14	0.51	48%	6.0
University of Houston (Bauer)	$82,350	$7,286	68.3%	$25,439	611	3.18	2.93	0.62	33%	4.7
University of Delaware (Lerner)	$83,357	N/A	60.0%	$18,842	625	3.10	2.69	0.51	50%	4.1
University of Denver (Daniels)	$82,869	$12,750	75.6%	$47,800	606	3.20	2.62	0.52	16%	5.0
Northern Arizona University (Franke)	$53,778	N/A	91.3%	$19,505	544	3.46	1.67	0.50	3%	2.4
American University (Kogod)	$92,343	$6,667	70.0%	$45,301	503	3.27	2.79	0.50	22%	3.9
College of Charleston	$57,839	$15,000	88.5%	$27,873	527	3.40	2.00	0.51	16%	4.0
University of San Diego	$71,045	$5,000	60.0%	$40,990	614	3.20	3.42	0.56	32%	4.3
Rochester Institute of Technology (Saunders)	$59,784	$4,125	78.3%	$45,808	540	3.20	3.22	0.52	36%	N/A

Ask the Experts

MBA programs can be incredibly expensive, so it’s a good idea to get a handle on their benefits and drawbacks before applying. For additional insight on this topic, WalletHub turned to a panel of experts. You can click on the experts below to read their bios and see their responses to the following key questions:

1. Is an MBA program worth the investment?
2. Would an MBA program offer candidates a competitive advantage in the job market?
3. Would you advise graduates to pursue further education or gain experience in the respective field?
4. Are MBA programs an efficient way for international students to gain access to the U.S. job market?

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• Darren Masier MBA Director, Assistant Professor, School of Business, Meredith College
• Dana C. Romano Associate Director, MBA Career Services, University of Pittsburgh Joseph M. Katz Graduate School of Business
• Greg Pickett Director, Clemson University MBA Program, Associate Dean, Clemson University College of Business
• Fred Burke Director, Graduate Career Management Center, The Zicklin School of Business, Baruch College, City University of New York (CUNY)
• Wendy W. Moe Associate Dean of Master's Programs, Dean's Professor of Marketing and Co-Director of the Smith Analytics Consortium, University of Maryland Robert H. Smith School of Business
• Brad Killaly Associate Dean of Full-time and Global MBA Programs, University of Michigan Ross School of Business

More Experts

Methodology

In order to determine the best MBA programs in the U.S., WalletHub selected a sample of 92 schools that offer full-time MBA programs from the list of member institutions in the Association to Advance Collegiate Schools of Business International. Due to data limitations, we were not able to include all member schools. Please note that the AACSB is not affiliated whatsoever with WalletHub and was used strictly as an informational resource.

We evaluated the schools based on three key dimensions: 1) Return on Investment, 2) Student Selectivity & Program Quality, and 3) Campus Experience. We constructed the three dimensions using 10 total metrics, each grouped with related metrics in the appropriate category and listed below with its corresponding weight. We graded each metric on a 100-point scale, with a score of 100 representing best MBA program.

Finally, we determined each school’s weighted average across all metrics to calculate its overall score and used the resulting scores to rank-order our sample.

Note: The career stats are for the Class of 2018. The incoming stats are for the Class of 2020.

Return on Investment – Total Points: 50

• Average Base Salary: Triple Weight (~21.43 Points)Note: This metric measures the average annual base salary for full-time MBA students after graduation. Data is for the Class of 2018. We considered a normal distribution and thus the average is equal to the mean. In some cases, we estimated the salary for the class of 2018 , by adjusting the salary from previous classes with the inflation rate.
• Average Signing Bonus: Full Weight (~7.14 Points)Note: This metric measures the average signing bonus for full-time students after MBA graduation. A signing bonus is a sum of money paid to a new employee by a company as an incentive to join that company. Data is for the Class of 2018. We considered a normal distribution and thus the average is equal to the mean. In some cases, we estimated the signing bonus for the class of 2018, by adjusting the signing bonuses from previous classes with the inflation rate.
• Employment Rates for Full-time MBA Program Graduates: Double Weight (~14.29 Points)Note: This metric measures the share of employment-seeking full-time MBA graduates who accepted a job offer within three months after graduation. Data is for the Class of 2018. We considered a normal distribution and thus the average is equal to the mean.
• Tuition & Fees: Full Weight (~7.14 Points)Note: This metric measures the full-time MBA program tuition and fees for the first academic year for in-state students. Fees cover the registration/application fee. In some cases, we estimated the tuition and fees for the academic year 2018-2019, by adjusting the tuition and fees for the academic year 2019-2020 based on their average annual growth rate.

Student Selectivity & Program Quality – Total Points: 40

• Average GMAT Score: Full Weight (~10.00 Points)Note: This metric measures the average GMAT score earned by full-time MBA students. Most MBA programs require applicants to take the GMAT . Data is for the Class of 2020. We considered a normal distribution and thus the average is equal to the mean.
• Average Undegraduate GPA: Full Weight (~10.00 Points)Note: This metric measures the average undergraduate GPA of full-time MBA students. Data is for the Class of 2020. We considered a normal distribution and thus the average is equal to the mean.
• Ratings from Professors: Double Weight (~20.00 Points)Note: This metric is based on professors from accredited full-time MBA programs rating other MBA programs on a scale of 1 (unremarkable) to 5 (outstanding).

Campus Experience – Total Points: 10

• Gender Diversity: Full Weight (~3.33 Points)Note: This metric is based on the Herfindahl-Hirschman Index method, a commonly accepted measure of market concentration that also works effectively as a general-purpose measure of diversity. Data is for the Class of 2020.
• Share of International Students: Full Weight (~3.33 Points)Note: This metric measures the share of full-time MBA students with citizenship other than U.S. Data is for the Class of 2020.
• Average Years of Work Experience: Full Weight (~3.33 Points)Note: This metric measures the average number of work years that an MBA candidate has. Data is for the Class of 2020.

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Sources: Data used to create this ranking were collected from the universities and a WalletHub survey of MBA professors. All universities were contacted to verify their data, but not all responded in a timely manner.

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