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MBA Salary to Tuition Ratio

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What is the ROI for an MBA?

Comparing Full-time MBA Starting Salary to Total Tuition and Fees

The Georgia Tech Scheller College of Business has created an ‘MBA Salary to Tuition Ratio’ tool for evaluating top-ranked MBA programs. The ratio compares the median salary of full-time MBA program graduates to the total out-of-state tuition and fees for the two-year-program, allowing prospective students to gauge a program's cost-effectiveness. The tool can serve as a valuable indicator in assessing top-ranked programs and their potential return on investment (ROI).

If a salary to tuition ratio is high, it means that graduates typically earn a salary that is high relative to the total cost of tuition, making the program a stronger investment. On the other hand, a low ratio implies that the starting salary is not as high compared to tuition cost, indicating that the program may not offer as favorable of an ROI.

Other Factors to Consider

Aside from the MBA salary to tuition ratio, other considerations such as program reputation, desired career path, scholarships and fellowships, cost of living, and overall job market for MBA degree holders should also be taken into account. However, the salary to tuition ratio remains a useful tool in making an informed decision about your educational investment.

Note: This table reflects 2023 - 2024 U.S. News & World Report rankings, Class of 2023 employment data (if not available, Class of 2022 data is used), and 2023 - 2024 out-of-state total tuition and fees. When median starting salary data is not available, mean starting salary data is used. 

Last updated: 12/1/2023

Salary to Tuition Ratio U.S. News & World Report Ranking School Median Starting Salary Tuition and Fees (Out-of-State Total) % Received Offer
1.06 08 (Tie) Yale University

$175,000

$165,400

91.5%

1.16 08 (Tie) University of Michigan, Ann Arbor (Ross)

$175,000

$151,448

96.0%

1.06 06 (Tie) Dartmouth College (Tuck)

$175,000

$165,442

96.0%

1.05 14 University of Virginia (Darden)

$167,899

$159,400

94.0%

1.09 15 (Tie) Cornell University (Johnson)

$175,000

$159,820

94.0%

0.98 18 Carnegie Mellon University (Tepper)

$148,067

$151,424

97.0%

0.98 19 University of California, Los Angeles (Anderson)

$147,000

$149,248

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1.20 20 (Tie) University of Texas, Austin (McCombs)

$140,500

$117,440

95.3%

1.09 17 Emory University (Goizueta)

$165,000

$151,689

96.0%

1.06 24 (Tie) Rice University (Jones)

$149,000

$140,260

---

1.95 26 Georgia Institute of Technology (Scheller)

$165,000

$84,516

96.0%

1.01 03 University of Pennsylvania (Wharton)

$175,000

$172,740

98.7%

1.08 01 University of Chicago (Booth)

$180,000

$167,393

95.6%

1.00 10 New York University (Stern)

$170,000

$170,272

94.3%

1.17 11 (Tie) Duke University (Fuqua)

$175,000

$150,000

93.0%

1.05 15 (Tie) University of Southern California (Marshall)

$150,314

$143,560

97.0%

1.01 22 (Tie) University of North Carolina, Chapel Hill (Kenan-Flager)

$146,779

$145,118

89.0%

1.10 24 (Tie) Georgetown University (McDonough)

$149,256

$136,126

92.5%

1.20 22 (Tie) Indiana University (Kelley)

$136,400

$113,908

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1.27 20 (Tie) University of Washington (Foster)

$147,340

$115,692

99.0%

1.21 27 (Tie) Vanderbilt University (Owen)

$165,550

$137,000

97.0%

1.33 30 University of Notre Dame (Mendoza)

$172,098

$129,320

91.0%

1.90 27 (Tie) University of Texas at Dallas (Jindal)

$124,000

$65,407

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0.98 02 Northwestern University (Kellogg)

$165,000

$169,206

98.54%

1.10 06 (Tie) Stanford University

$175,000

$159,720

93.0%

0.98 04 Massachusetts Institute of Technology (Sloan)

$165,000

$168,400

96.6%

1.05 05 Harvard University

$175,000

$166,076

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0.94 11 (Tie) University of California, Berkeley (Haas)

$155,000

$164,118

93.8%

0.97 11 (Tie) Columbia University

$175,000

$180,258

95.0%

1.50 27 (Tie) University of Rochester (Simon)

$162,000

$108,038

95.0%

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