Tuesday, April 23, 2019

The Most Affordable Top MBA Programs





The most affordable top-50 MBA degree in the United States is available at Purdue University's Krannert School of Management, with a two-year total cost — including room and board and other expenses — of around $65,000. Only five schools in the top 50 carry 2-year MBA price tags of less than $100K.
School & P&Q Rank2-Year Tuition2-Year Room & Board2-Year TotalAverage Indebtedness (Class of 2018)Percentage With Debt (Class of 2018)
38. Purdue (Krannert)$39,532$26,060$65,592$63,26145%
34. BYU (Marriott)* $26,900$42,672$69,572NANA
45. Texas-Dallas (Jindal)$57,000$32,000$89,000$28,10632%
47. Florida (Hough)$60,260$35,360$95,620$37,03548%
44. Pittsburgh (Katz)$63,916$36,034$99,950NANA
43. Georgia (Terry)$64,224$43,748$107,972$36,60340%
33. Wisconsin$77,554$37,236$114,790$25,73725%
27. Georgia Tech (Scheller)$80,360$37,472$117,832NANA
46. Texas A&M (Mays)$76,606$46,076$122,682NANA
39. Rochester (Simon)$92,000$35,530$127,530$40,86472%
32. Penn State (Smeal)$84,936$43,900$128,836$40,12227%
30. Minnesota (Carlson)$99,888$34,000$133,888$58,16548%
31. Arizona State (Carey)$94,396$39,656$134,052$30,21740%
41. SMU (Cox)$91,950$42,970$134,920NANA
25. Indiana (Kelley)$99,910$38,000$137,910$57,07992%
36. Ohio State (Fisher)$105,248$34,768$140,016$49,78139%
35. Michigan State (Broad)$100,880$42,800$143,680$51,98847%
50. Rutgers $93,480$53,000$146,480NANA
18. Texas-Austin (McCombs)$108,788$38,120$146,908$84,04347%
42. Boston (Questrom)$107,988$39,038$147,026NA44%
48. Boston College (Carroll)$102,400$46,670$149,070$63,08145%
49. UC-Davis$99,370$50,016$149,386$67,97237%
29. Notre Dame (Mendoza)$108,240$41,300$149,540$64,52954%
21. Washington (Foster)$100,092$60,992$161,084$28,96845%

Lowest-Paid MBAs In The P&Q Top 25




School & P&Q RankLow U.S. SalaryLow Foreign SalaryTotal Reporting Base SalaryLow U.S. Sign-OnLow Foreign Sign-OnTotal Reporting Sign-On Bonus
1. Harvard Business School$41,875$57,32485.9%$1,000$2,00058.3%
8. UC-Berkeley (Haas)$46,800$70,00090.8%$2,000$5,00063.3%
6. MIT (Sloan)$50,000NA91.9%$5,000NA65.1%
20. Emory (Goizueta)$55,000$40,00085.0%$8,000$5,00070.0%
19. UNC (Kenan-Flagler)$55,000$65,00083.8%$5,000$5,00068.8%
25. Indiana (Kelley)$55,000$20,00085.6%$5,000$5,00067.5%
18. Texas-Austin (McCombs)$55,000$51,81683.9%$5,000$8,00063.7%
11. Yale SOM$55,000$52,00085.9%$3,000$5,00059.2%
7. Columbia$55,000$52,00076.9%$3,000$5,00050.9%
17. CMU (Tepper)$56,000$60,00087.0%$5,000$5,00069.4%
21. Washington (Foster)$60,000$54,98989.3%$3,000$3,50067.9%
15. UCLA (Anderson)$60,000$52,00084.8%$5,000$1,59860.0%
23. Georgetown (McDonough)$60,000$45,00078.3%$1,000$10,00056.2%
24. Rice (Jones)$69,992$70,00094.5%$3,000$5,00061.5%
13. Cornell (Johnson)$70,000$35,00083.6%$2,500$5,00070.3%
4. Chicago (Booth)$70,000$53,00087.3%$5,000$3,50060.2%
3. Stanford GSB$70,000$48,00074.1%$5,000$5,00040.8%
1. Penn (Wharton) $73,000$15,91080.3%$40$2,00059.7%
14. Duke (Fuqua)$75,000$50,00087.5%$5,000$4,20071.8%
10. Michigan (Ross)$80,000$70,00088.2%$5,000$8,00079.7%
16. NYU (Stern)$80,000$70,00089.7%$2,500$2,00075.4%
22. USC (Marshall)$80,000$90,00078.0%$2,000$3,00067.9%
5. Northwestern (Kellogg)$80,000$23,28284.2%$3,000$4,50063.4%
9. Dartmouth (Tuck)$87,000$60,00083.8%$3,000$3,00072.5%
12. Virginia (Darden)$39,465*$39,465*88.2%$3,500$10,00082.0%

Highest-Paid MBAs At The P&Q Top 25

School & P&Q RankHigh U.S. SalaryAverage U.S. SalaryHigh U.S. Sign-OnHigh Foreign SalaryAverage Foreign SalaryHigh Foreign Sign-On
1. Penn (Wharton) $350,000$142,286$250,000$246,525$132,793$150,000
1. Harvard Business School$300,000$140,849$75,000$250,000$136,194$80,000
3. Stanford GSB$300,000$150,123$100,000$225,000$131,697$145,000
4. Chicago (Booth)$250,000$134,371$150,000$200,000$126,904$130,000
6. MIT (Sloan)$250,000$135,105$100,000NANANA
10. Michigan (Ross)$243,000$127,787$80,000$170,000$123,046$80,000
5. Northwestern (Kellogg)$225,000$132,249$82,500$170,000$119,576$70,000
9. Dartmouth (Tuck)$215,000$131,870$152,500$159,000$125,600$105,000
7. Columbia$210,000$131,210$130,000$308,000$130,400$90,000
16. NYU (Stern)$200,000$129,815$100,000$180,000$125,984$90,000
8. UC-Berkeley (Haas)$200,000$130,350$90,000$180,000$122,855$100,000
12. Virginia (Darden)$200,000*$127,767*$180,000$200,000*$127,767*$100,000
18. Texas-Austin (McCombs)$195,000$120,282$90,000$152,000$114,257$90,000
11. Yale SOM$190,000$127,449$90,000$170,000$124,176$95,000
13. Cornell (Johnson)$190,000$128,882$92,500$180,000$120,153$100,000
14. Duke (Fuqua)$190,000$129,512$90,000$180,000$124,657$100,000
23. Georgetown (McDonough)$180,000$118,528$90,000$170,000$108,876$90,000
24. Rice (Jones)$175,000$114,856$70,000$150,000$108,429$50,000
15. UCLA (Anderson)$170,000$123,678$75,000$152,500$117,793$78,000
17. CMU (Tepper)$165,000$120,848$90,000$147,000$119,341$100,000
22. USC (Marshall)$152,500$123,570$90,000$152,500$103,791$90,000
19. UNC (Kenan-Flagler)$152,500$117,085$95,000$152,500$114,849$90,000
21. Washington (Foster)$152,500$118,263$103,000$160,000$118,558$100,000
20. Emory (Goizueta)$152,000$121,708$90,000$150,000$117,326$100,000
25. Indiana (Kelley)$150,000$111,640$58,500$145,000$99,108$35,000
* Darden provided only overall salary and bonus figures.

The Highest & Lowest Paid MBAs At The Top 25 Schools



 
Last year a student from the United States working in finance in the Northeast — probably New York City — achieved a salary of $350,000 after graduating from The Wharton School at the University of Pennsylvania. One of his colleagues, an American working internationally, also reported a base salary of $350K.


  • Wharton reported the highest base salary for a U.S. citizen — that Northeast-bound financier who scored a $350K — while Harvard Business School and Stanford Graduate School of Business were close behind, each with a domestic $300K earner of their own. 
  • Columbia Business School boasted the highest starting salary for an international student at $308,000. 
  • In sign-on bonuses, Wharton again paced the pack for both U.S. ($250,000) and foreign nationals ($150,000). 
  • Just a few years ago, someone in the HBS Class of 2016 secured a starting base salary of half a million dollars, while someone at Stanford reported a salary of $450,000.
  • The highest U.S. average salary was at Stanford, where U.S. grads reported a base salary of $150,123.  The highest average pay for international grads was at HBS: $136,194.
  • Once again, U.S. salaries outpace those of their international classmates, with the overall U.S. average of the 25 schools about $7,000 more than the average for foreign national grads: $127,603 to $120,589. Looking only at the top 10 schools, the U.S. was about $8,000 ahead: $135,620 to internationals’ $127,674.
  • The school with the highest percentage reporting salary numbers in 2018 was Rice University’s Jones Graduate School of Business, No. 24 on the P&Q ranking, where 94.5% reported — 86 students out of 91 known to be looking for work. 
  • Close behind were No. 6 MIT Sloan (91.9%) and No. 8 UC-Berkeley Haas (90.8%). Stanford actually had the lowest percentage of salary reporters: 74.1%, or 218 grads out of 294 on the market.

Besides highs and averages, U.S. News also reports lows. 
  • The lowest reported salary for a U.S. MBA in the Class of 2018 was at Harvard, where someone took a job for the base pay of $41,875. 
  • For an international student, the lowest base pay was reported by a Whartonite who was hired for $15,910; the job, categorized as both financial services and “other,” took him or her outside the U.S.
  • The lowest sign-on bonus for an international student was reported by a UCLA Anderson grad: $1,598. And then for a low bonus accepted by a U.S. student, we return to the question of the $40. Were they paid by check or two bills out of the boss’s wallet? We may never know.
  • Indiana University’s Kelley School of Business swept a host of interesting “lows”: lowest high U.S. salary ($150K), lowest average U.S. salary ($111,640), lowest high U.S. sign-on ($58,500), lowest high foreign salary ($145K), and lowest high foreign sign-on ($35K). The Hoosiers’ $99,108 average foreign salary, another low, was the only non-six-figure salary for any top-25 school in either the U.S. or foreign column.
  • The highest low U.S. salary was at Dartmouth Tuck ($87K), though four schools — Northwestern Kellogg, USC Marshall, Michigan Ross, and NYU Stern — were close behind at $80K. USC claimed the highest low foreign salary: $90K. Emory Goizueta ($8K) had the highest low U.S. sign-on and Virginia Darden and Georgetown McDonough ($10K) shared the distinction of reporting the highest low foreign sign-on.
School & P&Q RankGMATGPAAccept RatePay (Salary + Bonus)Jobs at GradJobs at 3 Months
1. Harvard Business School7313.7110.4%$159,31479.1%89.3%
1. Penn (Wharton) 7323.6020.7%$165,52883.6%94.6%
3. Stanford GSB7323.736.1%$162,70468.7%88.1%
4. Chicago (Booth)7313.5822.9%$154,72287.6%95.5%
5. Northwestern (Kellogg)7323.6021.9%$151,60580.4%92.0%
6. MIT (Sloan)7283.5713.1%$159,24586.0%93.5%
7. Columbia7363.6014.5%$153,35175.0%90.1%
8. UC-Berkeley (Haas)7263.6715.4%$147,92175.5%93.4%
9. Dartmouth (Tuck)7223.4923.3%$157,82180.6%91.9%
10. Michigan (Ross)7203.4827.1%$156,16389.3%93.5%
11. Yale SOM7243.6720.4%$149,96477.1%89.8%
12. Virginia (Darden)7183.5032.9%$160,71187.3%92.3%
13. Cornell (Johnson)6993.4133.1%$154,53379.7%91.0%
14. Duke (Fuqua)7043.4922.4%$155,12985.4%94.0%
15. UCLA (Anderson)7163.5224.3%$142,99769.7%88.7%
16. NYU (Stern)7163.4523.2%$159,02183.7%93.7%
17. CMU (Tepper)6903.4035.4%$145,56681.9%89.6%
18. Texas-Austin (McCombs)7023.4833.6%$141,77175.0%85.9%
19. UNC (Kenan-Flagler)7023.3446.6%$139,62780.5%92.1%
20. Emory (Goizueta)6863.3040.8%$145,81580.0%92.9%
21. Washington (Foster)6963.3135.1%$147,76383.9%99.1%
22. USC (Marshall)7053.5028.2%$151,40879.2%95.8%
23. Georgetown (McDonough)6933.3455.2%$139,21563.7%93.8%
24. Rice (Jones)7063.3239.7%$129,95073.6%94.5%
25. Indiana (Kelley)6753.3338.3%$125,92975.6%95.0%

Thursday, April 11, 2019

The Most Affordable Top MBA Programs


The most affordable of all the top 50 MBA programs in the U.S.: Purdue Krannert, where two years of graduate business education will cost you around $65,000. Purdue photo
The most affordable MBA is Purdue University’s Krannert School of Management, where a two-year degree can be had for the low, low price of $65,592. That’s an estimate based on Purdue’s annual tuition at just $19,766 annually and its “cost of living” — room, board, books, and miscellaneous expenses, but not, critically, fees — at a mere $13,030 per year.
Altogether, Purdue and the next four schools down the list make up a key group: the only five schools out of 50 with a total two-year cost of under $100,000. After the Krannert School, Brigham Young University takes second place, with a total cost of $69,572, but also with a big asterisk: the Marriott School of Business’ annual tuition of $13,450, lowest on record for the top 50, is available only to members of the Mormon church. There are no such restrictions, however, at the next most-affordable MBA programs: the University of Texas-Dallas Jindal School of Management ($89,000), the University of Florida’s Hough Graduate School of Business ($95,620), and the University of Pittsburgh Katz Graduate School of Business ($99,950). (Non-LDS members pay a two-year MBA tuition of $52,240, according to BYU Marriott’s website, bringing its total two-year cost to $94,912 — still third place on the Most Affordable list.) 
Acceptance rates are fairly high at all four: 49.4% at Purdue, 52.7% at BYU, 35.1% at Texas-Dallas, 18.8% at Florida, and 34.0% at Pittsburgh Katz. That averages out to 38%.
Only three schools ranked by P&Q in the top 25 find their way into the “bottom” 20 for cost: No. 24 Rice University Jones Graduate School of Business is eighth overall at $116,530; No. 25 Indiana University Kelley School of Business is 16th overall at $137,910; and No. 18 Texas-Austin McCombs School of Business is 20th, at $146,908.

School & P&Q Rank2-Year Tuition2-Year Room & Board2-Year TotalAverage Indebtedness (Class of 2018)Percentage With Debt (Class of 2018)
38. Purdue (Krannert)$39,532$26,060$65,592$63,26145%
34. BYU (Marriott)*$26,900$42,672$69,572NANA
45. Texas-Dallas (Jindal)$57,000$32,000$89,000$28,10632%
47. Florida (Hough)$60,260$35,360$95,620$37,03548%
44. Pittsburgh (Katz)$63,916$36,034$99,950NANA
43. Georgia (Terry)$64,224$43,748$107,972$36,60340%
33. Wisconsin$77,554$37,236$114,790$25,73725%
27. Georgia Tech (Scheller)$80,360$37,472$117,832NANA
46. Texas A&M (Mays)$76,606$46,076$122,682NANA
39. Rochester (Simon)$92,000$35,530$127,530$40,86472%
32. Penn State (Smeal)$84,936$43,900$128,836$40,12227%
30. Minnesota (Carlson)$99,888$34,000$133,888$58,16548%
31. Arizona State (Carey)$94,396$39,656$134,052$30,21740%
41. SMU (Cox)$91,950$42,970$134,920NANA
25. Indiana (Kelley)$99,910$38,000$137,910$57,07992%
36. Ohio State (Fisher)$105,248$34,768$140,016$49,78139%
35. Michigan State (Broad)$100,880$42,800$143,680$51,98847%
50. Rutgers$93,480$53,000$146,480NANA
18. Texas-Austin (McCombs)$108,788$38,120$146,908$84,04347%
42. Boston (Questrom)$107,988$39,038$147,026NA44%
48. Boston College (Carroll)$102,400$46,670$149,070$63,08145%
49. UC-Davis$99,370$50,016$149,386$67,97237%
29. Notre Dame (Mendoza)$108,240$41,300$149,540$64,52954%
21. Washington (Foster)$100,092$60,992$161,084$28,96845%