For almost any educational program, there is almost never just one reason why it exists and why students may choose to pursue it. That, however, is not the case with the MBA, a degree designed with a singular purpose in mind: to help its students advance their professions and to maximise their earning potential.

As such, it is a relatively easier task to create an objective ranking of MBA programs than any other type of degree. In our inaugural rankings of global MBA programs, Profit starts off with a simple premise: what is the menu of options available to Pakistani students and young professionals contemplating an MBA program, and how should those programs be ranked?

As far as we can tell, this is an exercise that has never taken place before, and hence, the list we have produced looks nothing like any of the other rankings of global MBA programs you may have seen. You will notice in our rankings, for instance, that Pakistan’s two top MBA programs – the Lahore University of Management Sciences (LUMS) and the Institute of Business Administration (IBA) – appear quite prominently. That is almost by design: as the two most desirable local options in business education for Pakistanis, both universities would naturally feature at least somewhere in the list of a person considering an MBA.

But before we delve into our list – and explain why there are three of them – a few notes on our methodology and how and why we decided to produce yet another ranking of MBA programs.

Methodology

The problem with most other MBA rankings – from our perspective – is that they tend to judge MBA programs on several factors, but ignore the ones that should be absolutely crucial to a Pakistani student or young professional about to embark on an MBA program.

The most important factor that is ignored by virtually all rankings is the US immigration system, and the fact that getting a work visa in the United States after graduating with a degree there is now subject to a lottery, and not like most other countries, where it is a much simpler application. This is not a trivial detail: more than half of all top-ranked MBA programs are in the United States, and American programs tend to be more expensive than European ones, and the starting salaries of the graduates of US MBA programs tend to be higher than those of just about anywhere else.

What happens to international students in the United States matters, but no ranking captures the changed immigration law calculus that most non-Americans now undertake – at least informally – when making a decision as to whether or not to head over to the US for an MBA.

At Profit, we have sought to formalise that hitherto informal calculation and offer our readers a quantitative assessment of the following question: is going to America still worth it? Obviously, that question has many components of its answer, but we have provided through our rankings a beginning of how to think about the economic trade-offs involved in that decision.

Unlike most other rankings, ours is based on a single, objective measure: how much does a particular MBA program add to your earning power relative to what you would have earned had you not gone there at all. There are three key calculations we make in order to arrive at that number, which we then use to rank all of the major MBA programs across the world, plus the two major Pakistani ones.

The first calculation is simply understanding the post-MBA lifetime earning power of a graduate of all of the 109 top programs for which we collected data. This is done by relying on some observed data and then making certain assumptions.

The observed data points that we have are the post-MBA starting salaries, and the salaries of alumni six years after graduating from the program. We then assume that a typical MBA graduate – who is 28 when they join a business school and 30 when they leave it – sees the most rapid increase in income in those first six years, and then sees a further 50%, inflation adjusted, increase in their earning power over the next 12 years, until they hit their peak income in their late-40s, following which their income grows only at inflation rates until they hit retirement age, which we have assumed to be 65 years.

This pattern of income growth is based largely on patterns observed in historical data about income over time for people in the United States and Europe, which are the primary markets in which graduates of top-tier global MBA programs work.

We recognise that we have not factored in the differences between men and women and how they are treated in the workforce in these assumptions about earning power. We will attempt to correct for this oversight in subsequent editions of this ranking.

The next calculation we make is to figure out how much graduates of these programs would have made had they never decided to get an MBA. The calculation is similar to the one described above, except that its starting point is not the post-MBA salary, but the pre-MBA salary.

The third step we take is to then adjust the lifetime earnings number for US MBA programs by assuming that there is only a 65% chance of getting the H-1B work visa that would allow a graduate to stay on and continue working inside the United States (this 65% is based on our estimates of probabilities of getting the visa in recent years.) The remaining 35% is assumed to have the same earning power as a typical LUMS graduate. We think it is reasonable to assume that if you come back home to Pakistan with an MBA from Harvard, you will at least get the same salaries as a LUMS MBA graduate.

For the Pakistani MBA programs, we used a slightly different methodology. Since Pakistan is a low-income country where incomes have a long way to go before they hit a plateau, we did not assume that a person who continues to work in Pakistan will see their income flatline after their late-40s, but rather will continue to rise faster than inflation until their retirement.

We also excluded some business schools from this list, most notably all Indian business schools. The reason we did this is because this list is meant to reflect the realm of possibility for Pakistani students: living, studying, and working in India are not realistic options for Pakistanis and hence we decided to exclude the four Indian MBA programs that would otherwise have made this list.

The list was restricted to business schools for which it is possible to attain full cost-of-attendance financing for the entire MBA program. We did this because we want to make sure that our list represents the options for all Pakistani professionals, not just those whose families have the money to be able to afford to send them to elite universities abroad. The list, therefore, consists entirely of business schools for which it is possible to get a loan to cover the full cost, including living expenses.

The numbers are not adjusted for purchasing power parity, because we believe that for globally mobile professionals, a dollar is a dollar. Lifestyles of the global upper middle class have a surprising degree of convergence, and hence understanding the absolute differences in earning potential is important to be aware of. We also did not factor in the cost of the programs into our rankings, though we did include the rate of return on each program in the data we list to demonstrate how much cost can play a role.

Finally, we used US dollars for this entire exercise because more than half of the MBA programs analysed are based in the United States, and because using US dollars allowed us to avoid astronomically large numbers in Pakistani rupees that would be difficult to make sense of, given the much higher rates of inflation in Pakistan compared to the US. We assumed that the long-term rupee depreciation rate of 6% per year would continue into the future (and we took into account the recent sharp weakening as well.)

Why the 3 lists?

To be clear, we have produced only one ranking: the one labelled “By adjusted MBA premium”. The other two lists are included in this inaugural ranking only to illustrate just how much of a difference our Pakistani-perspective-specific adjustments make to the otherwise standard global lists of top MBA programs. These lists will be excluded from next year’s ranking onwards.

The first list is organised simply by the raw lifetime earning power of each MBA program’s graduates. It shows you why Harvard and Wharton are considered to be the powerhouses that they are: nobody earns more than Harvard MBA graduates, with Wharton close behind. Interestingly, Berkeley appears to slightly outearn Stanford, which is otherwise thought to be considered a more prestigious MBA program.

The other thing this first list shows is just how dominant the United States is, and just how much richer the American upper middle class is relative to the rest of the world’s upper middle class. Eight of the top 10 schools by earning power are in the United States, and 17 of the top 20. Only IMD, INSEAD, and London Business School make it as non-US programs in the top 20.

And in case you think that America and Canada are almost the same, take a look at where the first Canadian business school makes its entry: the University of Western Ontario’s Ivey Business School at number 30. Australia’s best business school – the University of Melbourne – is all the way down at number 41. The top-ranked Asian business school is at the Hong Kong University of Science and Technology, at number 47.

In this ranking, LUMS is ranked at 92, and IBA at 108. It is absolutely true that in terms of raw earning power over the course of a lifetime, Pakistani MBA programs still lag relatively far behind, though it is likely that they will continue to climb higher in subsequent years.

In the second list, we adjust for not just raw lifetime earning power, but how much of that power comes from attending that specific business school versus how much comes from other innate qualities of the people who attend it. After all, if you are talented enough to get into Stanford, odds are pretty good that you were doing better than average even before you applied.

In short, we want to see what premium in your wages the MBA program actually delivers over the course of an average graduate’s lifetime. Once we adjust for the MBA earning premium, we see a very different list: Harvard retains the top spot, but INSEAD moves into second place. LUMS jumps up to number 19, and IBA leaps up to number 30.

The third list – the actual Profit ranking of global MBA programs – shows a very interesting picture. Once we adjust for the risks of US immigration laws and assume that a foreign MBA delivers LUMS-like earning power to returning graduates, there is a stark difference: Harvard is dethroned and American universities are wiped off from the list of the top three completely, with IMD, INSEAD, and London Business School taking their place. LUMS breaks into the top 10, and IBA makes it to number 13!

This list, we believe, reflects how economic decisions should be made: by comparing each option to its next best alternative, and by weighting the probabilities of competing scenarios based on their statistical likelihood of occurrence.

This, of course, does not mean that this list will represent the hierarchy of factors that go into deciding how each individual thinks about their future. It does, however, illustrate one example of how one should weigh the publicly available information to suit one’s own needs and one’s own personal context.

What the list means

At Profit, we believe it is important not just to present data, but also to make an effort to interpret the data. The two most important elements of our ranking are the following: the hit to the rankings of American schools, and the surprisingly higher ranking of LUMS and IBA.

How attractive is the US option?

Let’s address the first question: is an MBA from the United States still worth the costs and the risks?

America invented the very concept of a graduate business education, and Harvard specifically invented the MBA. America is also still much richer than just about any country in the world, and the American upper middle class, specifically, is the single biggest concentration of wealth on the planet. There are many ways to break into that class of people, but for a foreign citizen, getting an MBA from a top-tier MBA program is – or perhaps used to be – the easiest way to get that done.

In recent years, however, specifically since the election of President Donald Trump, the United States government has a adopted a different approach to immigration policy, which has consequences for people who might still be considering moving to the US for an education. Specifically, the H-1B work visa, which has not been particularly easy to get over the past decade, has become even more difficult to obtain.

In such circumstances, universities in Canada and Europe appear to be safer options for students, and indeed, that seems to the verdict by students from around the world. According to data from the Graduate Management Admission Council, the body that conducts the GMAT exam, the number of applications from international students to MBA programs in the United States declined by 10.5% in 2018, dropping from 75,683 in 2017 to 67,731 in 2018. During that same year, applications from international students to European business schools went up by 3.4%, to Canada by 16.4% and to business schools in the Asia Pacific region by 15.1%.

And unlike previous years, the decline is hitting even elite universities like Harvard, Stanford, and Wharton. Applications to Harvard declined by 4.5% this year, at Stanford by 4.6%, and at Wharton by 6.7%, according to reporting by The Wall Street Journal.

Does the rise in the fate of non-US business schools mean that Pakistani business schools – both of them – will also see an increase in interest from both students and employers? The answer to that question is likely yes in the long run, though the short run is unlikely to see much impact. Pakistani business schools do not attract a global pool of employers, and hence they do not attract a global pool of applicants, which limits the incomes generated by graduates of these programs to the specific dynamics of the Pakistani economy, where wages continue to rise, but have a long way to go before they will reach the levels of developed economies.

Nonetheless, if Pakistani students face a tougher environment in other parts of the world, it is good to know that local business schools are still available and open doors to tremendous opportunities.

Raw Earning Power

RankUniversitySchoolLocationCountryAnnual Tuition ($)Total Tuition ($)Annual all-in cost ($)Total all-in cost ($)Pre-MBA Salary ($)Post-MBA Salary ($)6 Years Later ($)Job Placement Rate (%)5Y CAGR (%)Rate of return (%)Lifetime earning potential - Non-MBALifetime earning potential - MBALifetime earning potential - MBA premium
1Harvard UniversityHarvard Business SchoolBoston, MAUnited States$73,440$146,880$109,124$218,248$85,000$150,000$280,00090.6%13.3%41.3%$5,310,477$11,247,672$5,908,742
2University of PennsylvaniaThe Wharton SchoolPhiladelphia, PAUnited States$78,948$157,896$111,900$223,800$85,000$150,000$262,50095.5%11.8%38.4%$5,310,477$10,576,381$5,237,451
3University of California BerkeleyHaas School of BusinessBerkeley, CAUnited States$61,506$123,012$96,598$193,196$86,250$135,000$260,00090.6%14.0%38.1%$5,388,572$10,429,571$5,012,127
4Stanford UniversityGraduate School of BusinessStanford, CAUnited States$70,590$141,180$115,797$231,594$85,000$155,000$255,00082.4%10.5%37.5%$5,310,477$10,305,003$4,966,073
5Columbia UniversityColumbia Business SchoolNew York, NYUnited States$74,400$148,800$110,978$221,956$80,000$140,000$250,00092.3%12.3%37.1%$4,998,096$10,063,149$5,038,274
6University of ChicagoBooth School of BusinessChicago, ILUnited States$72,000$144,000$108,683$217,366$80,000$140,000$242,00095.2%11.6%36.6%$4,998,096$9,756,145$4,731,269
7IMDLausanneSwitzerland$85,000$121,000$80,000$157,000$240,00081.8%8.9%64.4%$4,998,096$9,734,987$4,710,111
8INSEADFontainbleauFrance$98,948$126,562$66,000$120,000$239,00082.3%14.8%55.8%$4,123,429$9,572,998$5,427,475
9Dartmouth CollegeTuck School of BusinessHanover, NHUnited States$72,150$144,300$107,200$214,400$80,000$135,000$236,50095.6%11.9%35.1%$4,998,096$9,528,338$4,503,462
10Northwestern UniversityKellogg School of ManagementEvanston, ILUnited States$71,544$143,088$103,350$206,700$79,000$135,000$230,00095.0%11.2%35.5%$4,935,620$9,278,835$4,316,770
11University of LondonLondon Business SchoolLondonUnited Kingdom$102,549$159,180$75,000$133,500$220,00093.6%10.5%43.3%$4,685,715$8,889,850$4,179,029
12New York UniversityStern School of BusinessNew York, NYUnited States$71,676$143,352$113,166$226,332$75,000$125,000$213,00091.8%11.2%30.7%$4,685,715$8,592,936$3,882,114
13Massachusetts Institute of TechnologySloan School of ManagementCambridge, MAUnited States$74,200$148,400$111,570$223,140$70,000$140,000$210,00092.5%8.4%35.9%$4,373,334$8,526,540$4,129,773
14University of California Los AngelesAnderson School of ManagementLos Angeles, CAUnited States$59,866$119,732$98,699$197,398$72,000$115,000$207,00087.7%12.5%32.2%$4,498,286$8,329,186$3,806,798
15Yale UniversitySchool of ManagementNew Haven, CTUnited States$66,650$133,300$93,900$187,800$75,000$130,000$205,00089.9%9.5%34.9%$4,685,715$8,302,033$3,591,212
16University of VirginiaDarden School of BusinessCharlottesville, VAUnited States$68,510$137,020$96,276$192,552$70,000$123,000$202,00090.2%10.4%34.8%$4,373,334$8,163,889$3,767,122
17Duke UniversityFuqua School of BusinessDurham, NCUnited States$68,200$136,400$94,385$188,770$65,000$124,000$200,00091.6%10.0%37.9%$4,060,953$8,090,327$4,007,615
18Cornell UniversityJohnson School of ManagementIthaca, NYUnited States$66,290$132,580$92,190$184,380$70,000$123,500$192,00090.1%9.2%34.2%$4,373,334$7,781,215$3,384,448
19Emoriy UniversityGoizueta School of BusinessAtlanta, GAUnited States$64,128$128,256$88,835$177,670$58,000$106,000$185,60093.1%11.9%36.5%$3,623,620$7,477,814$3,834,779
20University of Texas-AustinMcCombs School of BusinessAustin, TXUnited States$54,924$109,848$77,644$155,288$72,000$115,000$184,50089.2%9.9%33.6%$4,498,286$7,465,319$2,942,931
21Carnegie Mellon UniversityTepper School of BusinessPittsburgh, PAUnited States$65,000$130,000$88,378$176,756$65,000$110,000$183,25085.2%10.7%33.2%$4,060,953$7,400,889$3,318,178
22University of Michigan Ann ArborRoss School of BusinessAnn Arbor, MIUnited States$68,646$137,292$92,834$185,668$70,000$125,000$180,00091.8%7.6%32.1%$4,373,334$7,324,375$2,927,608
23University of CambridgeJudge School of BusinessCambridgeUnited Kingdom$71,852$91,985$70,000$120,000$178,50089.0%8.3%53.2%$4,373,334$7,250,756$2,853,990
24IE UniversityIE Business SchoolMadridSpain$83,065$112,057$63,000$101,000$180,00088.9%12.3%43.4%$3,936,001$7,246,141$3,289,052
25Fordham UniversityGabelli School of BusinessNew York, NYUnited States$50,835$101,670$85,905$171,810$75,000$97,500$180,00072.3%13.0%24.9%$4,685,715$7,234,298$2,523,477
26Vanderbilt UniversityOwen School of BusinessNashville, TNUnited States$56,150$112,300$82,900$165,800$66,000$104,000$177,00090.1%11.2%31.4%$4,123,429$7,141,029$2,995,507
27University of OxfordSaid School of BusinessOxfordUnited Kingdom$71,852$91,985$66,000$120,000$175,00079.9%7.8%56.9%$4,123,429$7,116,077$2,970,555
28University of Southern CaliforniaMarshall School of BusinessLos Angeles, CAUnited States$62,140$124,280$98,955$197,910$71,000$108,000$175,00091.5%10.1%25.6%$4,435,810$7,077,400$2,617,823
29Georgetown UniversityMcDonough School of BusinessWashington, DCUnited States$61,902$123,804$93,020$186,040$65,000$113,000$174,00090.3%9.0%30.9%$4,060,953$7,055,207$2,972,496
30University of Western OntarioIvey Business SchoolLondon, ONCanada$84,737$105,311$56,000$85,000$173,50081.6%15.3%42.7%$3,498,667$6,942,053$3,424,640
31University of St GallenSt Gallen, SGSwitzerland$56,500$69,500$60,000$130,000$169,35075.7%5.4%91.0%$3,748,572$6,929,681$3,161,024
32University of NavarraIESE Business SchoolBarcelonaSpain$101,415$147,319$52,000$115,500$170,00095.3%8.0%46.5%$3,248,762$6,909,354$3,643,185
33Boston CollegeCarroll School of ManagementChestnut Hill, MAUnited States$51,200$102,400$74,535$149,070$60,000$100,000$170,00087.7%11.2%35.2%$3,748,572$6,858,991$3,090,334
34University of North CarolinaKenan-Flagler School of BusinessChapel Hill, NCUnited States$64,182$128,364$89,220$178,440$65,000$110,000$165,50090.4%8.5%29.4%$4,060,953$6,718,658$2,635,946
35University of Notre DameMendoza College of BusinessNotre Dame, INUnited States$54,120$108,240$74,120$148,240$63,000$100,000$166,00089.7%10.7%32.4%$3,936,001$6,705,386$2,748,297
36Bocconi UniversitySDA Bocconi School of ManagementMilanItaly$65,600$89,078$51,000$100,000$162,50088.8%10.2%59.5%$3,186,286$6,570,936$3,367,578
37Rice UniversityJones Graduate School of BusinessHouston, TXUnited States$58,000$116,000$88,424$176,848$55,000$105,000$160,50084.2%8.9%33.5%$3,436,191$6,510,293$3,055,691
38University of California IrvineMerage School of BusinessIrvine, CAUnited States$51,480$102,960$69,480$138,960$58,000$90,000$160,00091.4%12.2%33.1%$3,623,620$6,441,762$2,798,727
39Washington University in St LouisOlin School of BusinessSt Louis, MOUnited States$59,950$119,900$89,359$178,718$60,000$99,000$158,50096.3%9.9%28.4%$3,748,572$6,413,968$2,645,310
40University of WashingtonFoster School of BusinessSeattle, WAUnited States$48,333$96,666$78,829$157,658$55,000$100,000$157,00098.0%9.4%34.3%$3,436,191$6,359,567$2,904,965
41University of MelbourneMelbourne Business SchoolMelbourne, VICAustralia$63,545$82,005$68,500$110,000$154,50096.3%7.0%45.7%$4,279,620$6,295,294$1,992,744
42Ramon Llull UniversityESADEBarcelonaSpain$85,092$134,474$50,000$100,000$155,10082.7%9.2%42.2%$3,123,810$6,286,523$3,145,975
43University of RochesterSimon School of BusinessRochester, NYUnited States$46,000$92,000$68,187$136,374$54,500$88,000$155,00095.2%12.0%34.2%$3,404,953$6,243,186$2,819,990
44Rutgers UniversitySchool of BusinessPiscataway, NJUnited States$45,689$91,378$63,689$127,378$60,000$85,000$154,70096.3%12.7%30.8%$3,748,572$6,221,565$2,452,908
45University of IowaTippie School of BusinessIowa City, IAUnited States$40,134$80,268$58,866$117,732$47,500$90,000$154,00080.4%11.3%44.7%$2,967,620$6,211,484$3,227,964
46Southern Methodist UniversityCox School of BusinessDallas, TXUnited States$45,975$91,950$75,628$151,256$55,000$90,000$154,00083.3%11.3%31.9%$3,436,191$6,211,484$2,756,882
47Hong Kong University of Science and TechnologyHKUST Business SchoolHong KongChina$75,000$102,829$65,000$99,000$152,50090.0%9.0%35.9%$4,060,953$6,183,323$2,100,612
48Purdue UniversityKrannert School of ManagementWest Lafayette, INUnited States$42,464$84,928$62,464$124,928$50,000$90,000$153,00081.5%11.2%40.2%$3,123,810$6,173,092$3,032,545
49Arizona State UniversityCarey School of BusinessTempe, AZUnited States$50,550$101,100$72,350$144,700$50,000$95,500$151,50095.1%9.7%37.6%$3,123,810$6,133,542$2,992,995
50Brigham Young UniversityMarriott School of BusinessProvo, UTUnited States$26,120$52,240$47,456$94,912$50,000$98,500$151,00089.1%8.9%53.9%$3,123,810$6,120,431$2,983,483
51Indiana UniversityKelley School of BusinessBloomington, INUnited States$49,955$99,910$74,084$148,168$60,000$105,000$150,00094.0%7.4%32.2%$3,748,572$6,106,279$2,337,622
52University of WisconsinWisconsin Business SchoolMadison, WIUnited States$40,459$80,918$64,077$128,154$60,000$98,700$150,00088.2%8.7%33.9%$3,748,572$6,086,216$2,317,559
53Michigan State UniversityBroad School of BusinessEast Lansing, MIUnited States$50,633$101,266$73,720$147,440$50,000$100,000$147,00095.5%8.0%37.5%$3,123,810$5,974,961$2,834,414
54Georgia Institute of TechnologyScheller School of BusinessAtlanta, GAUnited States$42,196$84,392$60,932$121,864$55,000$96,250$146,00094.5%8.7%37.5%$3,436,191$5,924,502$2,469,900
55University of GeorgiaTerry School of BusinessAthens, GAUnited States$32,112$64,224$46,112$92,224$50,000$82,500$147,00092.5%12.2%44.6%$3,123,810$5,917,738$2,777,191
56Texas A&M UniversityMays Business SchoolCollege Station, TXUnited States$55,443$110,886$79,777$159,554$60,000$96,000$145,50093.8%8.7%27.0%$3,748,572$5,904,468$2,135,811
57China Europe International Business SchoolShanghaiChina$57,120$67,200$40,000$70,000$147,00092.7%16.0%59.7%$2,499,048$5,874,634$3,362,196
58Pennsylvania State UniversitySmeal School of BusinessUniversity Park, PAUnited States$41,822$83,644$66,368$132,736$43,000$97,500$139,80088.9%7.5%43.9%$2,686,477$5,689,915$2,989,044
59Ohio State UniversityFisher School of BusinessColumbus, OHUnited States$48,563$97,126$75,023$150,046$50,000$90,000$140,35093.3%9.3%32.3%$3,123,810$5,687,090$2,5465,423
60University of TorontoRotman School of ManagementToronto, ONCanada$45,858$91,717$64,711$129,422$50,000$89,250$138,50080.3%9.2%35.4%$3,123,810$5,613,539$2,472,991
61University of MinnesotaCarlson School of ManagementMinneapolis, MNUnited States$56,670$113,339$74,960$149,919$50,000$100,000$137,00093.5%6.5%34.6%$3,123,810$5,589,935$2,449,388
62University of OklahomaPrice School of BusinessNorman, OKUnited States$54,000$70,000$40,000$73,500$138,50074.1%13.5%58.5%$2,499,048$5,561,201$3,048,763
63Imperial College LondonImperial College Business SchoolLondonUnited Kingdom$68,120$88,451$60,000$90,000$136,60090.0%8.7%35.6%$3,748,572$5,542,891$1,774,234
64University of MarylandSmith School of BusinessCollege Park, MDUnited States$56,261$112,522$76,031$152,062$60,000$94,500$136,00080.0%7.6%25.0%$3,748,572$5,534,148$1,765,491
65HEC ParisParisFrance$79,925$108,675$50,000$91,000$136,00091.9%8.4%40.6%$3,123,810$5,523,016$2,382,469
66Boston UniversityQuestrom School of BusinessBoston, MAUnited States$51,966$103,932$69,966$139,932$60,000$89,000$134,90091.4%8.7%24.8%$3,748,572$5,474,294$1,705,638
67Nanyang Technological UniversityNanyang Business SchoolSingaporeSingapore$45,260$70,390$58,795$117,000$132,28898.0%2.5%66.5%$3,673,267$5,459,730$1,766,782
68University of ManchesterAlliance Manchester Business SchoolManchesterUnited Kingdom$57,640$70,740$40,000$89,000$132,00075.6%8.2%69.8%$2,499,048$5,362,735$2,850,297
69Cranfield UniversityCranfield School of ManagementCranfieldUnited Kingdom$51,090$66,286$50,000$90,000$131,62374.3%7.9%58.2%$3,123,810$5,351,413$2,210,865
70University of Hong KongHong KongChina$71,760$91,962$50,033$107,070$128,24585.0%3.7%54.4%$3,125,848$5,273,915$2,131,319
71Copenhagen Business SchoolCopenhagenDenmark$50,899$72,184$64,000$91,000$129,50060.7%7.3%33.2%$3,998,477$5,272,859$1,252,958
72College of William & MaryMason School of BusinessWilliamsburg, VAUnited States$44,480$88,960$62,660$125,320$53,000$85,000$129,50080.6%8.8%29.8%$3,311,239$5,253,755$1,924,775
73National University of SingaporeNUS Business SchoolSingaporeSingapore$45,260$70,390$30,000$61,064$130,36995.5%16.4%59.5%$1,874,286$5,206,377$3,322,049
74University of FloridaHough School of BusinessGainesville, FLUnited States$30,630$61,260$48,310$96,620$50,000$73,600$127,50093.2%11.6%33.4%$3,123,810$5,139,583$1,999,036
75University of Illinois at Urbana-ChampaignSchool of BusinessUrbana-Champaign, ILUnited States$41,388$82,776$64,042$128,084$55,000$92,250$125,50089.5%6.3%28.7%$3,436,191$5,122,715$1,668,113
76University of Texas-DallasJindal School of BusinessDallas, TXUnited States$35,156$60,744$53,323$87,995$55,000$78,500$125,96292.2%9.9%31.9%$3,436,191$5,096,668$1,642,066
77City University of LondonCass School of BusinessLondonUnited Kingdom$57,640$77,971$59,358$111,000$123,20181.0%2.1%49.8%$3,708,480$5,090,710$1,362,359
78University of WarwickWarwick Business SchoolCoventryUnited Kingdom$52,335$67,111$50,000$81,200$125,00086.4%9.0%47.6%$3,123,810$5,068,467$1,927,920
79Chinese University of Hong KongBusiness SchoolHong KongChina$72,280$92,482$52,959$97,578$122,86697.0%4.7%42.0%$3,308,707$5,037,574$1,711,139
80McGill UniversityDesautels Faculty of ManagementMontreal, QCCanada$35,673$71,345$48,400$96,799$50,000$82,000$122,50081.0%8.4%35.5%$3,123,810$4,974,881$1,834,334
81Queen's UniversitySmith School of BusinessKingston, ONCanada$70,680$87,417$60,000$85,000$120,00078.0%7.1%26.6%$3,748,572$4,888,175$1,119,518
82University of MannheimMannheim Business SchoolMannheim, BWGermany$51,603$67,933$54,000$78,500$120,00097.4%8.9%37.1%$3,373,715$4,867,494$1,475,703
83ESMT BerlinBerlin, BEGermany$65,320$88,835$62,000$86,000$118,50080.9%6.6%23.4%$3,873,524$4,833,540$939,261
84Shanghai Jiaotong UniversityAntai College of ManagementShanghaiChina$21,560$43,120$38,360$76,720$20,593$43,246$121,63570.0%23.0%52.4%$1,286,593$4,806,700$3,513,213
85University of UtahEccles School of BusinessSalt Lake City, UTUnited States$30,000$60,000$44,000$88,000$52,500$76,500$117,00091.2%8.9%30.3%$3,280,001$4,745,686$1,448,111
86University of New South WalesAustralian Graduate School of ManagementSydney, NSWAustralia$59,640$83,097$59,640$88,750$115,90986.0%5.5%27.8%$3,726,081$4,742,216$996,171
87Hult International Business SchoolCambridge, MAUnited States$80,150$107,350$45,000$80,000$115,00090.1%7.5%34.5%$2,811,429$4,679,901$1,853,408
88The Lisbon MBALisbonPortugal$43,700$64,400$46,857$82,000$113,47068.0%6.7%50.3%$2,927,456$4,627,277$1,684,135
89University of EdinburghBusiness SchoolEdinburghUnited Kingdom$40,217$56,448$45,251$81,000$113,42082.0%7.0%58.4%$2,827,135$4,622,217$1,779,934
90WHU Beisheim School of ManagementVallandar, RPGermany$44,850$65,550$43,929$67,650$112,79482.0%10.8%42.3%$2,744,490$4,555,205$1,796,010
91Singapore Management UniversityLee Kong ChianSingaporeSingapore$47,249$72,379$28,077$65,700$112,17390.0%11.3%59.8%$1,754,139$4,524,901$2,761,363
92Lahore University of Management SciencesDawood School of BusinessLahorePakistan$5,496$10,992$7,313$14,626$8,484$12,422$27,32595.0%17.1%45.8%$858,744$4,481,949$3,606,368
93Erasmus UniversityRotterdam School of ManagementRotterdamNetherlands$58,075$78,775$50,000$72,905$110,00088.0%8.6%31.1%$3,123,810$4,464,900$1,324,363
94Edhec Business SchoolLilleFrance$50,600$64,400$45,251$81,000$107,50578.0%5.8%49.5%$2,827,135$4,394,323$1,552,040
95Durham UniversityBusiness SchoolDurhamUnited Kingdom$39,300$55,020$41,251$89,928$104,30689.0%3.0%5.7%$2,577,217$4,297,967$1,706,941
96HEC MontrealMontreal, QCCanada$25,840$43,320$50,000$70,000$105,00052.8%8.4%42.0%$3,123,810$4,263,270$1,122,722
97City University of New YorkZicklin School of BusinessNew York, NYUnited States$28,278$56,556$55,604$111,208$44,000$78,000$104,00090.0%5.9%29.9%$2,748,953$4,249,943$1,486,261
98University College DublinSmurfit Graduate Business SchoolDublinIreland$39,675$61,525$57,669$94,000$102,64393.0%1.8%35.3%$3,602,922$4,245,719$623,493
99Lancaster UniversitySchool of ManagementLancasterUnited Kingdom$39,955$52,400$53,546$75,000$104,10661.0%6.8%33.2%$3,345,351$4,244,686$881,411
100University of Paris-SeineEssec Business SchoolCergy-PontoiseFrance$51,750$72,450$54,054$80,000$102,20179.0%5.0%26.7%$3,377,092$4,186,736$791,550
101Leeds UniversityBusiness SchoolLeedsUnited Kingdom$37,990$53,710$49,714$95,450$100,04984.6%0.9%62.6%$3,105,913$4,149,579$1,027,024
102Fudan UniversitySchool of ManagementShanghaiChina$18,886$37,772$35,686$71,372$16,202$40,180$103,03296.5%20.7%53.4%$1,012,215$4,085,125$3,067,486
103Ryerson UniversityRogers School of ManagementToronto, ONCanada$32,813$47,141$47,500$70,000$96,00092.5%6.5%39.0%$2,967,620$3,916,807$933,287
104University of BathSchool of ManagementBathUnited Kingdom$49,125$72,705$45,349$75,279$93,46191.0%4.4%33.0%%$2,833,226$3,835,159$986,752
105EMLyon Business SchoolParisFrance$44,275$64,975$51,572$82,000$92,51783.0%2.4%28.3%$3,222,043$3,818,837$579,530
106University of StrathclydeStrathclyde Business SchoolGlasgowUnited Kingdom$41,200$64,780$44,086$82,000$91,81494.0%2.3%44.2%$2,754,327$3,791,661$1,022,576
107State University of New York at BuffaloSchool of ManagementBuffalo, NYUnited States$28,639$57,277$46,811$93,621$35,000$54,000$91,50089.6%11.1%28.7%$2,186,667$3,692,337$1,493,953
108Institute of Business AdministrationKarachiPakistan$3,464$6,928$5,624$11,248$3,535$9,938$21,86095.0%17.1%72.4%$357,810$3,585,559$3,220,734
109ESIC Business & Marketing SchoolSevilleSpain$35,666$56,376$26,000$26,500$73,00063.6%22.5%27.2%$1,624,381$2,886,882$1,253,797

MBA premium

RankUniversitySchoolLocationCountryAnnual TutionTotal TuitionAnnual all-in costTotal all-in costPre-MBA salaryPost-MBA salary6-Years laterJob placement rate5Y salary CAGR Lifetime earning potential - Non-MBALifetime earning potential - MBALifetime earning potential - MBA Premium
1Harvard UniversityHarvard Business SchoolBoston, MAUnited States$73,400$146,880$109,124$218,248$85,000$150,000$280,00090.6%13.3%41.3%$5,310,477$11,247,673$5,908,742
2INSEADFontainbleauFrance$98,948$126,562$66,000$120,000$239,00082.3%14.8%55.8%$4,123,429$9,572,998$5,427,475
3University of PennsylvaniaThe Wharton SchoolPhiladelphia, PAUnited States$78,948$157,896$111,900$223,800$85,000$150,000$262,50095.5%11.8%38.4%$5,310,477$10,576,382$5,237,451
4Columbia UniversityColumbia Business SchoolNew York, NYUnited States$74,400$148,800$110,978$221,956$80,000$140,000$250,00092.3%12.3%37.1%$4,998,096$10,063,150$5,038,274
5University of California BerkeleyHaas School of BusinessBerkeley, CAUnited States$61,506$123,012$96,598$193,196$86,250$135,000$260,00090.6%14.0%38.1%$5,388,572$10,429,571$5,012,127
6Stanford UniversityGraduate School of BusinessStanford, CAUnited States$70,590$141,180$115,797$231,594$85,000$155,000$255,00082.4%10.5%37.5%$5,310,477$10,305,004$4,966,074
7University of ChicagoBooth School of BusinessChicago, ILUnited States$72,000$144,000$108,683$217,366$80,000$140,000$242,00095.2%11.6%36.6%$4,998,096$9,756,146$4,731,270
8IMDLausanneSwitzerland$85,000$121,000$80,000$157,000$240,00081.8%8.9%64.4%$4,998,096$9,734,987$4,710,112
9Dartmouth CollegeTuck School of BusinessHanover, NHUnited States$72,150$144,300$107,200$214,400$80,000$135,000$236,50095.6%11.9%35.1%$4,998,096$9,528,338$4,503,462
10Northwestern UniversityKellogg School of ManagementEvanston, ILUnited States$71,544$143,088$103,350$206,700$79,000$135,000$230,00095.0%11.2%35.5%$4,935,620$9,278,835$4,316,770
11University of LondonLondon Business SchoolLondonUnited Kingdom$102,549$159,180$75,000$133,500$220,00093.6%10.5%43.3%$4,685,715$8,889,850$4,179,029
12Massachusetts Institute of TechnologySloan School of ManagementCambridge, MAUnited States$74,200$148,400$111,570$223,140$70,000$140,000$210,00092.5%8.4%35.9%$4,373,334$8,526,540$4,129,773
13Duke UniversityFuqua School of BusinessDurham, NCUnited States$68,200$136,400$94,385$188,770$65,000$124,000$200,00091.6%10.0%37.9%$4,060,953$8,090,327$4,007,615
14New York UniversityStern School of BusinessNew York, NYUnited States$71,676$143,352$113,166$226,332$75,000$125,000$213,00091.8%11.2%30.7%$4,685,715$8,592,936$3,882,115
15Emoriy UniversityGoizueta School of BusinessAtlanta, GAUnited States$64,128$128,256$88,835$177,670$58,000$106,000$185,60093.1%11.9%36.5%$3,623,620$7,477,814$3,834,779
16University of California Los AngelesAnderson School of ManagementLos Angeles, CAUnited States$59,866$119,732$98,699$197,398$72,000$115,000$207,00087.7%12.5%32.2%$4,498,286$8,329,186$3,806,798
17University of VirginiaDarden School of BusinessCharlottesville, VAUnited States$68,510$137,020$96,276$192,552$70,000$123,000$202,00090.2%10.4%34.8%$4,373,334$8,163,889$3,767,122
18University of NavarraIESE Business SchoolBarcelonaSpain$101,415$147,319$52,000$115,500$170,00095.3%8.0%46.5%$3,248,762$6,909,354$3,643,185
19Lahore University of Management SciencesDawood School of BusinessLahorePakistan$5,496$10,992$7,313$14,626$8,484$12,422$27,32595.0%17.1%45.8%$858,744$4,481,949$3,606,368
20Yale UniversitySchool of ManagementNew Haven, CTUnited States$66,650$133,300$93,900$187,800$75,000$130,000$205,00089.9%9.5%34.9%$4,685,715$8,302,033$3,591,212
21Shanghai Jiaotong UniversityAntai College of ManagementShanghaiChina$21,560$43,120$38,360$76,720$20,593$43,246$121,63570.0%23.0%52.4%$1,286,593$4,806,700$3,513,213
22University of Western OntarioIvey Business SchoolLondon, ONCanada$84,737$105,311$56,000$85,000$173,50081.6%15.3%42.7%$3,498,667$6,942,053$3,424,640
23Cornell UniversityJohnson School of ManagementIthaca, NYUnited States$66,290$132,580$92,190$184,380$70,000$123,500$192,00090.1%9.2%34.2%$4,373,334$7,781,215$3,384,448
24Bocconi UniversitySDA Bocconi School of ManagementMilanItaly$65,600$89,078$51,000$100,000$162,50088.8%10.2%59.5%$3,186,286$6,570,936$3,367,578
25China Europe International Business SchoolShanghaiChina$57,120$67,200$40,000$70,000$147,00092.7%16.0%59.7%$2,499,048$5,874,634$3,362,196
26National University of SingaporeNUS Business SchoolSingaporeSingapore$45,260$70,390$30,000$61,064$130,36995.5%16.4%59.5%$1,874,286$5,206,377$3,322,049
27Carnegie Mellon UniversityTepper School of BusinessPittsburgh, PAUnited States$65,000$130,000$88,378$176,756$65,000$110,000$183,25085.2%10.7%33.2%$4,060,953$7,400,889$3,318,178
28IE UniversityIE Business SchoolMadridSpain$83,065$112,057$63,000$101,000$180,00088.9%12.3%43.4%$3,936,001$7,246,141$3,289,052
29University of IowaTippie School of BusinessIowa City, IAUnited States$40,134$80,268$58,866$117,732$47,500$90,000$154,00080.4%11.3%44.4%$2,967,620$6,211,484$3,227,964
30Institute of Business AdministrationKarachiPakistan$3,464$6,928$5,624$11,248$3,535$9,938$21,86095.0%17.1%72.4%$357,810$3,585,559$3,220,734
31University of St GallenSt Gallen, SGSwitzerland$56,500$69,500$60,000$130,000$169,35075.7%5.4%91.0%$3,748,572$6,929,681$3,161,024
32Ramon Llull UniversityESADEBarcelonaSpain$85,092$134,474$50,000$100,000$155,10082.7%9.2%42.2%$3,123,810$6,286,523$3,145,975
33Boston CollegeCarroll School of ManagementChestnut Hill, MAUnited States$51,200$102,400$74,535$149,070$60,000$100,000$170,00087.7%11.2%35.2%$3,748,572$6,858,991$3,090,334
34Fudan UniversitySchool of ManagementShanghaiChina$18,886$37,772$35,686$71,372$16,202$40,180$103,03296.5%20.7%53.4%$1,012,215$4,085,125$3,067,486
35Rice UniversityJones Graduate School of BusinessHouston, TXUnited States$58,000$116,000$88,424$176,848$55,000$105,000$160,50084.2%8.9%33.5%$3,436,191$6,510,293$3,055,691
36University of OklahomaPrice School of BusinessNorman, OKUnited States$54,000$70,000$40,000$73,500$138,50074.1%13.5%58.5%$2,499,048$5,561,201$3,048,763
37Purdue UniversityKrannert School of ManagementWest Lafayette, INUnited States$42,464$84,928$62,464$124,928$50,000$90,000$153,00081.5%11.2%40.2%$3,123,810$6,173,092$3,032,545
38Vanderbilt UniversityOwen School of BusinessNashville, TNUnited States$56,150$112,300$82,900$165,800$66,000$104,000$177,00090.1%11.2%31.4%$4,123,429$7,141,029$2,995,507
39Arizona State UniversityCarey School of BusinessTempe, AZUnited States$50,550$101,100$72,350$144,700$50,000$95,500$151,50095.1%9.7%37.6%$3,123,810$6,133,542$2,992,995
40Pennsylvania State UniversitySmeal School of BusinessUniversity Park, PAUnited States$41,822$83,644$66,368$132,736$43,000$97,500$139,80088.9%7.5%43.9%$2,686,477$5,689,915$2,989,044
41Brigham Young UniversityMarriott School of BusinessProvo, UTUnited States$26,120$52,240$47,456$94,912$50,000$98,500$151,00089.1%8.9%53.9%$3,123,810$6,124,031$2,983,483
42Georgetown UniversityMcDonough School of BusinessWashington, DCUnited States$61,902$123,804$93,020$186,040$65,000$113,000$174,00090.3%9.0%30.9%$4,060,953$7,055,208$2,972,496
43University of OxfordSaid School of BusinessOxfordUnited Kingdom$71,852$91,985$66,000$120,000$175,00079.9%7.8%56.9%$4,123,429$7,116,077$2,970,555
44University of Texas-AustinMcCombs School of BusinessAustin, TXUnited States$54,924$109,848$77,644$155,288$72,000$115,000$184,50089.2%9.9%33.6%$4,498,286$7,465,319$2,942,931
45University of Michigan Ann ArborRoss School of BusinessAnn Arbor, MIUnited States$68,646$137,292$92,834$185,668$70,000$125,000$180,00091.8%7.6%32.1%$4,373,334$7,324,375$2,927,608
46University of WashingtonFoster School of BusinessSeattle, WAUnited States$48,333$96,666$78,829$157,658$55,000$100,000$157,00098.0%9.4%34.3%$3,436,191$6,359,567$2,904,965
47University of CambridgeJudge School of BusinessCambridgeUnited Kingdom$71,852$91,985$70,000$120,000$178,50089.0%8.3%53.2%$4,373,334$7,250,756$2,853,990
48University of ManchesterAlliance Manchester Business SchoolManchesterUnited Kingdom$57,640$70,740$40,000$89,000$132,00075.6%8.2%69.8%$2,499,048$5,362,735$2,850,297
49Michigan State UniversityBroad School of BusinessEast Lansing, MIUnited States$50,633$101,266$73,720$147,440$50,000$100,000$147,00095.5%8.0%37.5%$3,123,810$5,974,961$2,834,414
50University of RochesterSimon School of BusinessRochester, NYUnited States$46,000$92,000$68,187$136,374$54,500$88,000$155,00095.2%12.0%34.2%$3,404,953$6,243,186$2,819,990
51University of California IrvineMerage School of BusinessIrvine, CAUnited States$51,480$102,960$69,480$138,960$58,000$90,000$160,00091.4%12.2%33.1%$3,623,620$6,441,762$2,798,727
52University of GeorgiaTerry School of BusinessAthens, GAUnited States$32,112$64,224$46,112$92,224$50,000$82,500$147,00092.5%12.2%44.6%$3,123,810$5,917,738$2,777,191
53Singapore Management UniversityLee Kong ChianSingaporeSingapore$47,249$72,379$28,077$65,700$112,17390.0%11.3%59.8%$1,754,139$4,524,901$2,761,363
54Southern Methodist UniversityCox School of BusinessDallas, TXUnited States$45,975$91,950$75,628$151,256$55,000$90,000$154,00083.3%11.3%31.9%$3,436,191$6,211,484$2,756,882
55University of Notre DameMendoza College of BusinessNotre Dame, INUnited States$54,120$108,240$74,120$148,240$63,000$100,000$166,00089.7%10.7%32.4%$3,936,001$6,705,386$2,748,297
56Washington University in St LouisOlin School of BusinessSt Louis, MOUnited States$59,950$119,900$89,359$178,718$60,000$99,000$158,50096.3%9.9%28.4%$3,748,572$6,413,968$2,645,311
57University of North CarolinaKenan-Flagler School of BusinessChapel Hill, NCUnited States$64,182$128,364$89,220$178,440$65,000$110,000$165,50090.4%8.5%29.4%$4,060,953$6,718,658$2,635,946
58University of Southern CaliforniaMarshall School of BusinessLos Angeles, CAUnited States$62,140$124,280$98,955$197,910$71,000$108,000$175,00091.5%10.1%25.6%$4,435,810$7,077,400$2,617,823
59Ohio State UniversityFisher School of BusinessColumbus, OHUnited States$48,563$97,126$75,023$150,046$50,000$90,000$140,35093.3%9.3%32.3%$3,123,810$5,687,090$2,546,543
60Fordham UniversityGabelli School of BusinessNew York, NYUnited States$50,835$101,670$85,905$171,810$75,000$97,500$180,00072.3%13.0%24.9%$4,685,715$7,234,298$2,523,477
61University of TorontoRotman School of ManagementToronto, ONCanada$45,858$91,717$64,711$129,422$50,000$89,250$138,50080.3%9.2%35.4%$3,123,810$5,613,538$2,472,991
62Georgia Institute of TechnologyScheller School of BusinessAtlanta, GAUnited States$42,196$84,392$60,932$121,864$55,000$96,250$146,00094.5%8.7%37.5%$3,436,191$5,924,502$2,469,900
63Rutgers UniversitySchool of BusinessPiscataway, NJUnited States$45,689$91,378$63,689$127,378$60,000$85,000$154,70096.3%12.7%30.8%$3,748,572$6,221,565$2,452,908
64University of MinnesotaCarlson School of ManagementMinneapolis, MNUnited States$56,670$113,339$74,960$149,919$50,000$100,000$137,00093.5%6.5%34.6%$3,123,810$5,589,935$2,449,388
65HEC ParisParisFrance$79,925$108,675$50,000$91,000$136,00091.9%8.4%40.6%$3,123,810$5,523,016$2,382,469
66Indiana UniversityKelley School of BusinessBloomington, INUnited States$49,955$99,910$74,084$148,168$60,000$105,000$150,00094.0%7.4%32.2%$3,748,572$6,106,279$2,337,622
67University of WisconsinWisconsin Business SchoolMadison, WIUnited States$40,459$80,918$64,077$128,154$60,000$98,700$150,00088.2%8.7%33.9%$3,748,572$6,086,216$2,317,559
68Cranfield UniversityCranfield School of ManagementCranfieldUnited Kingdom$51,090$66,286$50,000$90,000$131,62374.3%7.9%58.2%$3,123,810$5,351,413$2,210,865
69Texas A&M UniversityMays Business SchoolCollege Station, TXUnited States$55,443$110,886$79,777$159,554$60,000$96,000$145,50093.8%8.7%27.0%$3,748,572$5,904,468$2,135,811
70University of Hong KongHong KongChina$71,760$91,962$50,033$107,070$128,24585.0%3.7%54.4%$3,125,848$5,273,915$2,131,319
71Hong Kong University of Science and TechnologyHKUST Business SchoolHong KongChina$75,000$102,829$65,000$99,000$152,50090.0%9.0%35.9%$4,060,953$6,183,323$2,100,612
72University of FloridaHough School of BusinessGainesville, FLUnited States$30,630$61,260$48,310$96,620$50,000$73,600$127,50093.2%11.6%33.4%$3,123,810$5,139,583$1,999,036
73University of MelbourneMelbourne Business SchoolMelbourne, VICAustralia$63,545$82,005$68,500$110,000$154,50096.3%7.0%45.7%$4,279,620$6,295,294$1,992,744
74University of WarwickWarwick Business SchoolCoventryUnited Kingdom$52,335$67,111$50,000$81,200$125,00086.4%9.0%47.6%$3,123,810$5,068,467$1,927,920
75College of William & MaryMason School of BusinessWilliamsburg, VAUnited States$44,480$88,960$62,660$125,320$53,000$85,000$129,50080.6%8.8%29.8%$3,311,239$5,253,755$1,924,775
76Hult International Business SchoolCambridge, MAUnited States$80,150$107,350$45,000$80,000$115,00090.1%7.5%34.5%$2,811,429$4,679,901$1,853,408
77McGill UniversityDesautels Faculty of ManagementMontreal, QCCanada$35,673$71,345$48,400$96,799$50,000$82,000$122,50081.0%8.4%35.5%$3,123,810$4,974,881$1,834,334
78WHU Beisheim School of ManagementVallandar, RPGermany$1$44,850$65,550$43,929$67,650$112,79482.0%10.8%42.3%$2,744,490$4,555,205$1,796,010
79University of EdinburghBusiness SchoolEdinburghUnited Kingdom$40,217$56,448$45,251$81,000$113,42082.0%7.0%58.4%$2,827,135$4,622,217$1,779,934
80Imperial College LondonImperial College Business SchoolLondonUnited Kingdom$68,120$88,451$60,000$90,000$136,60090.0%8.7%35.6%$3,748,572$5,542,891$1,774,234
81Nanyang Technological UniversityNanyang Business SchoolSingaporeSingapore$45,260$70,390$58,795$117,000$132,28898.0%2.5%66.5%$3,673,267$5,459,730$1,766,782
82University of MarylandSmith School of BusinessCollege Park, MDUnited States$56,261$112,522$76,031$152,062$60,000$94,500$136,00080.0%7.6%25.0%$3,748,572$5,534,148$1,765,491
83Chinese University of Hong KongBusiness SchoolHong KongChina$72,280$92,482$52,959$97,578$122,86697.0%4.7%42.0%$3,308,707$5,037,574$1,711,139
84Durham UniversityBusiness SchoolDurhamUnited Kingdom$39,300$55,020$41,251$89,928$104,30689.0%3.0%75.7%$2,577,217$4,297,967$1,706,941
85Boston UniversityQuestrom School of BusinessBoston, MAUnited States$51,966$103,932$69,966$139,932$60,000$89,000$134,90091.4%8.7%24.8%$3,748,572$5,474,294$1,705,638
86The Lisbon MBALisbonPortugal$43,700$64,400$46,857$82,000$113,47068.0%6.7%50.3%$2,927,456$4,627,277$1,684,135
87University of Illinois at Urbana-ChampaignSchool of BusinessUrbana-Champaign, ILUnited States$41,388$82,776$64,042$128,084$55,000$92,250$125,50089.5%6.3%28.7%$3,436,191$5,122,715$1,668,113
88University of Texas-DallasJindal School of BusinessDallas, TXUnited States$35,156$60,744$53,323$87,995$55,000$78,500$125,96292.2%9.9%31.9%$3,436,191$5,096,668$1,642,066
89Edhec Business SchoolLilleFrance$50,600$64,400$45,251$81,000$107,50578.0%5.8%49.5%$2,827,135$4,394,323$1,552,040
90State University of New York at BuffaloSchool of ManagementBuffalo, NYUnited States$28,639$57,277$46,811$93,621$35,000$54,000$91,50089.6%11.1%28.7%$2,186,667$3,692,337$1,493,953
91City University of New YorkZicklin School of BusinessNew York, NYUnited States$28,278$56,556$55,604$111,208$44,000$78,000$104,00090.0%5.9%29.9%$2,748,953$4,249,943$1,486,261
92University of MannheimMannheim Business SchoolMannheim, BWGermany$51,603$67,933$54,000$78,500$120,00097.4%8.9%37.1%$3,373,715$4,867,494$1,475,703
93University of UtahEccles School of BusinessSalt Lake City, UTUnited States$30,000$60,000$44,000$88,000$52,500$76,500$117,00091.2%8.9%30.3%$3,280,001$4,745,686$1,448,111
94City University of LondonCass School of BusinessLondonUnited Kingdom$57,640$77,971$59,358$111,000$123,20181.0%2.1%49.8%$3,708,480$5,090,710$1,362,359
95Erasmus UniversityRotterdam School of ManagementRotterdamNetherlands$58,075$78,775$50,000$72,905$110,00088.0%8.6%31.1%$3,123,810$4,464,910$1,324,363
96ESIC Business & Marketing SchoolSevilleSpain$35,666$56,376$26,000$26,500$73,00063.6%22.5%27.2%$1,624,381$2,886,882$1,253,797
97Copenhagen Business SchoolCopenhagenDenmark$50,899$72,184$64,000$91,000$129,50060.7%7.3%33.2%$3,998,477$5,272,859$1,252,958
98HEC MontrealMontreal, QCCanada$25,840$43,320$50,000$70,000$105,00052.8%8.4%42.0%$3,123,810$4,263,270$1,122,722
99Queen's UniversitySmith School of BusinessKingston, ONCanada$70,680$87,417$60,000$85,000$120,00078.0%7.1%26.6%$3,748,572$4,888,175$1,119,518
100Leeds UniversityBusiness SchoolLeedsUnited Kingdom$37,990$53,710$49,714$95,450$100,04984.6%0.9%62.6%$3,105,913$4,149,579$1,027,024
101University of StrathclydeStrathclyde Business SchoolGlasgowUnited Kingdom$41,200$64,780$44,086$82,000$91,81494.0%2.3%44.2%$2,754,327$3,791,661$1,022,576
102University of New South WalesAustralian Graduate School of ManagementSydney, NSWAustralia$59,640$83,097$59,640$88,750$115,90986.0%5.5%27.8%$3,726,081$4,742,216$996,171
103University of BathSchool of ManagementBathUnited Kingdom$49,125$72,705$45,349$75,279$93,46191.0%4.4%33.0%$2,833,226$3,835,159$986,752
104ESMT BerlinBerlin, BEGermany$65,320$88,835$62,000$86,000$118,50080.9%6.6%23.4%$3,873,524$4,833,540$939,261
105Ryerson UniversityRogers School of ManagementToronto, ONCanada$32,813$47,141$47,500$70,000$96,00092.5%6.5%39.0%$2,967,620$3,916,807$933,287
106Lancaster UniversitySchool of ManagementLancasterUnited Kingdom$39,955$52,400$53,546$75,000$104,10661.0%6.8%33.2%$3,345,351$4,244,686$881,411
107University of Paris-SeineEssec Business SchoolCergy-PontoiseFrance$51,750$72,450$54,054$80,000$102,20179.0%5.0%26.7%$3,377,092$4,186,736$791,550
108University College DublinSmurfit Graduate Business SchoolDublinIreland$39,675$61,525$57,669$94,000$102,64393.0%1.8%35.3%$3,602,922$4,245,719$623,493
109EMLyon Business SchoolParisFrance$44,275$64,975$51,572$82,000$92,51783.0%2.4%28.3%$3,222,043$3,818,837$579,530

Adjusted MBA premium

RankUniversitySchoolLocationCountryAnnual TutionTotal TuitionAnnual all-in costTotal all-in costPre-MBA salaryPost-MBA salary6-Years laterJob placement rate5Y salary CAGR Lifetime earning potential - Non-MBALifetime earning potential - MBALifetime earning potential - MBA Premium
1IMDLausanneSwitzerland$85,000$121,000$80,000$157,000$240,00081.8%8.9%64.4%$4,033,754$9,734,987$5,701,234
2INSEADFontainbleauFrance$98,948$126,562$66,000$120,000$239,00082.3%14.8%55.8%$4,033,754$9,572,998$5,539,244
3University of LondonLondon Business SchoolLondonUnited Kingdom$102,549$159,180$75,000$133,500$220,00093.6%10.5%43.3%$4,033,754$8,889,850$4,856,096
4Harvard UniversityHarvard Business SchoolBoston, MAUnited States$73,440$146,880$109,124$218,248$85,000$150,000$280,00090.6%13.3%41.3%$4,033,754$8,630,326$4,596,573
5University of PennsylvaniaThe Wharton SchoolPhiladelphia, PAUnited States$78,948$157,896$111,900$223,800$85,000$150,000$262,50095.5%11.8%38.4%$4,033,754$8,188,345$4,154,592
6University of California BerkeleyHaas School of BusinessBerkeley, CAUnited States$61,506$123,012$96,598$193,196$86,250$135,000$260,00090.6%14.0%38.1%$4,033,754$8,091,685$4,057,931
7Stanford UniversityGraduate School of BusinessStanford, CAUnited States$70,590$141,180$115,797$231,594$85,000$155,000$255,00082.4%10.5%37.5%$4,033,754$8,009,669$3,975,915
8Columbia UniversityColumbia Business SchoolNew York, NYUnited States$74,400$148,800$110,978$221,956$80,000$140,000$250,00092.3%12.3%37.1%$4,033,754$7,850,432$3,816,678
9Lahore University of Management SciencesDawood School of BusinessLahorePakistan$5,496$10,992$7,313$14,626$8,484$12,422$27,32595.0%17.1%45.8%$858,744$4,481,949$3,623,205
10University of ChicagoBooth School of BusinessChicago, ILUnited States$72,000$144,000$108,683$217,366$80,000$140,000$242,00095.2%11.6%36.6%$4,033,754$7,648,299$3,614,545
11Dartmouth CollegeTuck School of BusinessHanover, NHUnited States$72,150$144,300$107,200$214,400$80,000$135,000$236,50095.6%11.9%35.1%$4,033,754$7,498,309$3,464,555
12Northwestern UniversityKellogg School of ManagementEvanston, ILUnited States$71,544$143,088$103,350$206,700$79,000$135,000$230,00095.0%11.2%35.5%$4,033,754$7,334,035$3,300,281
13Institute of Business AdministrationKarachiPakistan$3,464$6,928$5,624$11,248$3,535$9,938$21,86095.0%17.1%72.4%$357,810$3,585,559$3,227,749
14University of CambridgeJudge School of BusinessCambridgeUnited Kingdom$71,852$91,985$70,000$120,000$178,50089.0%8.3%53.2%$4,033,754$7,250,756$3,217,002
15IE UniversityIE Business SchoolMadridSpain$83,065$112,057$63,000$101,000$180,00088.9%12.3%43.4%$4,033,754$7,246,141$3,212,387
16University of OxfordSaid School of BusinessOxfordUnited Kingdom$71,852$91,985$66,000$120,000$175,00079.9%7.8%56.9%$4,033,754$7,116,077$3,082,323
17University of Western OntarioIvey Business SchoolLondon, ONCanada$84,737$105,311$56,000$85,000$173,50081.6%15.3%42.7%$4,033,754$6,942,053$2,908,299
18University of St GallenSt Gallen, SGSwitzerland$56,500$69,500$60,000$130,000$169,35075.7%5.4%91.0%$4,033,754$6,929,681$2,895,927
19University of NavarraIESE Business SchoolBarcelonaSpain$101,415$147,319$52,000$115,500$170,00095.3%8.0%46.5%$4,033,754$6,909,354$2,875,600
20New York UniversityStern School of BusinessNew York, NYUnited States$71,676$143,352$113,166$226,332$75,000$125,000$213,00091.8%11.2%30.7%$4,033,754$6,882,436$2,848,683
21Massachusetts Institute of TechnologySloan School of ManagementCambridge, MAUnited States$74,200$148,400$111,570$223,140$70,000$140,000$210,00092.5%8.4%35.9%$4,033,754$6,838,721$2,804,967
22University of California Los AngelesAnderson School of ManagementLos Angeles, CAUnited States$59,866$119,732$98,699$197,398$72,000$115,000$207,00087.7%12.5%32.2%$4,033,754$6,708,782$2,675,028
23Yale UniversitySchool of ManagementNew Haven, CTUnited States$66,650$133,300$93,900$187,800$75,000$130,000$205,00089.9%9.5%34.9%$4,033,754$6,690,905$2,657,151
24University of VirginiaDarden School of BusinessCharlottesville, VAUnited States$68,510$137,020$96,276$192,552$70,000$123,000$202,00090.2%10.4%34.8%$4,033,754$6,599,950$2,566,196
25Bocconi UniversitySDA Bocconi School of ManagementMilanItaly$65,600$89,078$51,000$100,000$162,50088.8%10.2%59.5%$4,033,754$6,570,936$2,537,182
26Duke UniversityFuqua School of BusinessDurham, NCUnited States$68,200$136,400$94,385$188,770$65,000$124,000$200,00091.6%10.0%37.9%$4,033,754$6,551,517$2,517,763
27Cornell UniversityJohnson School of ManagementIthaca, NYUnited States$66,290$132,580$92,190$184,380$70,000$123,500$192,00090.1%9.2%34.2%$4,033,754$6,347,996$2,314,242
28University of MelbourneMelbourne Business SchoolMelbourne, VICAustralia$63,545$82,005$68,500$110,000$154,50096.3%7.0%45.7%$4,033,754$6,295,294$2,261,540
29Ramon Llull UniversityESADEBarcelonaSpain$85,092$134,474$50,000$100,000$155,10082.7%9.2%42.2%$4,033,754$6,286,523$2,252,769
30Hong Kong University of Science and TechnologyHKUST Business SchoolHong KongChina$75,000$102,829$65,000$99,000$152,50090.0%9.0%35.9%$4,033,754$6,183,323$2,149,569
31Emoriy UniversityGoizueta School of BusinessAtlanta, GAUnited States$64,128$128,256$88,835$177,670$58,000$106,000$185,60093.1%11.9%36.5%$4,033,754$6,148,236$2,114,482
32University of Texas-AustinMcCombs School of BusinessAustin, TXUnited States$54,924$109,848$77,644$155,288$72,000$115,000$184,50089.2%9.9%33.6%$4,033,754$6,140,009$2,106,255
33Carnegie Mellon UniversityTepper School of BusinessPittsburgh, PAUnited States$65,000$130,000$88,378$176,756$65,000$110,000$183,25085.2%10.7%33.2%$4,033,754$6,097,588$2,063,834
34University of Michigan Ann ArborRoss School of BusinessAnn Arbor, MIUnited States$68,646$137,292$92,834$185,668$70,000$125,000$180,00091.8%7.6%32.1%$4,033,754$6,047,211$2,013,457
35Fordham UniversityGabelli School of BusinessNew York, NYUnited States$50,835$101,670$85,905$171,810$75,000$97,500$180,00072.3%13.0%24.9%$4,033,754$5,987,904$1,954,150
36Vanderbilt UniversityOwen School of BusinessNashville, TNUnited States$56,150$112,300$82,900$165,800$66,000$104,000$177,00090.1%11.2%31.4%$4,033,754$5,926,495$1,892,742
37University of Southern CaliforniaMarshall School of BusinessLos Angeles, CAUnited States$62,140$124,280$98,955$197,910$71,000$108,000$175,00091.5%10.1%25.6%$4,033,754$5,884,602$1,850,848
38China Europe International Business SchoolShanghaiChina$57,120$67,200$40,000$70,000$147,00092.7%16.0%59.7%$4,033,754$5,874,634$1,840,880
39Georgetown UniversityMcDonough School of BusinessWashington, DCUnited States$61,902$123,804$93,020$186,040$65,000$113,000$174,00090.3%9.0%30.9%$4,033,754$5,869,990$1,836,236
40Boston CollegeCarroll School of ManagementChestnut Hill, MAUnited States$51,200$102,400$74,535$149,070$60,000$100,000$170,00087.7%11.2%35.2%$4,033,754$5,740,800$1,707,046
41University of North CarolinaKenan-Flagler School of BusinessChapel Hill, NCUnited States$64,182$128,364$89,220$178,440$65,000$110,000$165,50090.4%8.5%29.4%$4,033,754$5,648,404$1,614,650
42University of Notre DameMendoza College of BusinessNotre Dame, INUnited States$54,120$108,240$74,120$148,240$63,000$100,000$166,00089.7%10.7%32.4%$4,033,754$5,639,666$1,605,912
43University of TorontoRotman School of ManagementToronto, ONCanada$45,858$91,717$64,711$129,422$50,000$89,250$138,50080.3%9.2%35.4%$4,033,754$5,613,538$1,579,784
44Imperial College LondonImperial College Business SchoolLondonUnited Kingdom$68,120$88,451$60,000$90,000$136,60090.0%8.7%35.6%$4,033,754$5,542,891$1,509,137
45HEC ParisParisFrance$79,925$108,675$50,000$91,000$136,00091.9%8.4%40.6%$4,033,754$5,523,016$1,489,262
46Rice UniversityJones Graduate School of BusinessHouston, TXUnited States$58,000$116,000$88,424$176,848$55,000$105,000$160,50084.2%8.9%33.5%$4,033,754$5,511,216$1,477,462
47University of California IrvineMerage School of BusinessIrvine, CAUnited States$51,480$102,960$69,480$138,960$58,000$90,000$160,00091.4%12.2%33.1%$4,033,754$5,466,095$1,432,341
48Nanyang Technological UniversityNanyang Business SchoolSingaporeSingapore$45,260$70,390$58,795$117,000$132,28898.0%2.5%66.5%$4,033,754$5,459,730$1,425,976
49Washington University in St LouisOlin School of BusinessSt Louis, MOUnited States$59,950$119,900$89,359$178,718$60,000$99,000$158,50096.3%9.9%28.4%$4,033,754$5,447,795$1,414,041
50University of WashingtonFoster School of BusinessSeattle, WAUnited States$48,333$96,666$78,829$157,658$55,000$100,000$157,00098.0%9.4%34.3%$4,033,754$5,411,978$1,378,224
51University of ManchesterAlliance Manchester Business SchoolManchesterUnited Kingdom$57,640$70,740$40,000$89,000$132,00075.6%8.2%69.8%$4,033,754$5,362,735$1,328,981
52Cranfield UniversityCranfield School of ManagementCranfieldUnited Kingdom$51,090$66,286$50,000$90,000$131,62374.3%7.9%58.2%$4,033,754$5,351,413$1,317,659
53University of RochesterSimon School of BusinessRochester, NYUnited States$46,000$92,000$68,187$136,374$54,500$88,000$155,00095.2%12.0%34.2%$4,033,754$5,335,352$1,301,598
54Rutgers UniversitySchool of BusinessPiscataway, NJUnited States$45,689$91,378$63,689$127,378$60,000$85,000$154,70096.3%12.7%30.8%$4,033,754$5,321,116$1,287,362
55University of IowaTippie School of BusinessIowa City, IAUnited States$40,134$80,268$58,866$117,732$47,500$90,000$154,00080.4%11.3%44.4%$4,033,754$5,314,479$1,280,725
56Southern Methodist UniversityCox School of BusinessDallas, TXUnited States$45,975$91,950$75,628$151,256$55,000$90,000$154,00083.3%11.3%31.9%$4,033,754$5,314,479$1,280,725
57Purdue UniversityKrannert School of ManagementWest Lafayette, INUnited States$42,464$84,928$62,464$124,928$50,000$90,000$153,00081.5%11.2%40.2%$4,033,754$5,289,201$1,255,447
58University of Hong KongHong KongChina$71,760$91,962$50,033$107,070$128,24585.0%3.7%54.4%$4,033,754$5,273,915$1,240,161
59Copenhagen Business SchoolCopenhagenDenmark$50,899$72,184$64,000$91,000$129,50060.7%7.3%33.2%$4,033,754$5,272,859$1,239,105
60Arizona State UniversityCarey School of BusinessTempe, AZUnited States$50,550$101,100$72,350$144,700$50,000$95,500$151,50095.1%9.7%37.6%$4,033,754$5,263,162$1,229,408
61Brigham Young UniversityMarriott School of BusinessProvo, UTUnited States$26,120$52,240$47,456$94,912$50,000$98,500$151,00089.1%8.9%53.9%$4,033,754$5,256,899$1,223,145
62Indiana UniversityKelley School of BusinessBloomington, INUnited States$49,955$99,910$74,084$148,168$60,000$105,000$150,00094.0%7.4%32.2%$4,033,754$5,245,212$1,211,458
63University of WisconsinWisconsin Business SchoolMadison, WIUnited States$40,459$80,918$64,077$128,154$60,000$98,700$150,00088.2%8.7%33.9%$4,033,754$5,232,002$1,198,248
64National University of SingaporeNUS Business SchoolSingaporeSingapore$45,260$70,390$30,000$61,064$130,36995.5%16.4%59.5%$4,033,754$5,206,377$1,172,623
65Michigan State UniversityBroad School of BusinessEast Lansing, MIUnited States$50,633$101,266$73,720$147,440$50,000$100,000$147,00095.5%8.0%37.5%$4,033,754$5,158,751$1,124,998
66Georgia Institute of TechnologyScheller School of BusinessAtlanta, GAUnited States$42,196$84,392$60,932$121,864$55,000$96,250$146,00094.5%8.7%37.5%$4,033,754$5,125,529$1,091,775
67University of GeorgiaTerry School of BusinessAthens, GAUnited States$32,112$64,224$46,112$92,224$50,000$82,500$147,00092.5%12.2%44.6%$4,033,754$5,121,075$1,087,322
68Texas A&M UniversityMays Business SchoolCollege Station, TXUnited States$55,443$110,886$79,777$159,554$60,000$96,000$145,50093.8%8.7%27.0%$4,033,754$5,112,338$1,078,584
69City University of LondonCass School of BusinessLondonUnited Kingdom$57,640$77,971$59,358$111,000$123,20181.0%2.1%49.8%$4,033,754$5,090,710$1,056,956
70University of WarwickWarwick Business SchoolCoventryUnited Kingdom$52,335$67,111$50,000$81,200$125,00086.4%9.0%47.6%$4,033,754$5,068,467$1,034,713
71Chinese University of Hong KongBusiness SchoolHong KongChina$72,280$92,482$52,959$97,578$122,86697.0%4.7%42.0%$4,033,754$5,037,574$1,003,820
72McGill UniversityDesautels Faculty of ManagementMontreal, QCCanada$35,673$71,345$48,400$96,799$50,000$82,000$122,50081.0%8.4%35.5%$4,033,754$4,974,881$941,127
73Pennsylvania State UniversitySmeal School of BusinessUniversity Park, PAUnited States$41,822$83,644$66,368$132,736$43,000$97,500$139,80088.9%7.5%43.9%$4,033,754$4,971,076$937,322
74Ohio State UniversityFisher School of BusinessColumbus, OHUnited States$48,563$97,126$75,023$150,046$50,000$90,000$140,35093.3%9.3%32.3%$4,033,754$4,969,216$935,462
75University of MinnesotaCarlson School of ManagementMinneapolis, MNUnited States$56,670$113,339$74,960$149,919$50,000$100,000$137,00093.5%6.5%34.6%$4,033,754$4,905,249$871,495
76Queen's UniversitySmith School of BusinessKingston, ONCanada$70,680$87,417$60,000$85,000$120,00078.0%7.1%26.6%$4,033,754$4,888,175$854,421
77University of OklahomaPrice School of BusinessNorman, OKUnited States$54,000$70,000$40,000$73,500$138,50074.1%13.5%58.5%$4,033,754$4,886,330$852,576
78University of MarylandSmith School of BusinessCollege Park, MDUnited States$56,261$112,522$76,031$152,062$60,000$94,500$136,00080.0%7.6%25.0%$4,033,754$4,868,518$834,764
79University of MannheimMannheim Business SchoolMannheim, BWGermany$51,603$67,933$54,000$78,500$120,00097.4%8.9%37.1%$4,033,754$4,867,494$833,740
80ESMT BerlinBerlin, BEGermany$65,320$88,835$62,000$86,000$118,50080.9%6.6%23.4%$4,033,754$4,833,540$799,786
81Boston UniversityQuestrom School of BusinessBoston, MAUnited States$51,966$103,932$69,966$139,932$60,000$89,000$134,90091.4%8.7%24.8%$4,033,754$4,829,110$795,356
82Shanghai Jiaotong UniversityAntai College of ManagementShanghaiChina$21,560$43,120$38,360$76,720$20,593$43,246$121,63570.0%23.0%52.4%$4,033,754$4,806,700$772,946
83University of New South WalesAustralian Graduate School of ManagementSydney, NSWAustralia$59,640$83,097$59,640$88,750$115,90986.0%5.5%27.8%$4,033,754$4,742,216$708,462
84College of William & MaryMason School of BusinessWilliamsburg, VAUnited States$44,480$88,960$62,660$125,320$53,000$85,000$129,50080.6%8.8%29.8%$4,033,754$4,683,906$650,152
85The Lisbon MBALisbonPortugal$43,700$64,400$46,857$82,000$113,47068.0%6.7%50.3%$4,033,754$4,627,277$593,523
86University of EdinburghBusiness SchoolEdinburghUnited Kingdom$40,217$56,448$45,251$81,000$113,42082.0%7.0%58.4%$4,033,754$4,622,217$588,463
87University of FloridaHough School of BusinessGainesville, FLUnited States$30,630$61,260$48,310$96,620$50,000$73,600$127,50093.2%11.6%33.4%$4,033,754$4,608,735$574,981
88University of Illinois at Urbana-ChampaignSchool of BusinessUrbana-Champaign, ILUnited States$41,388$82,776$64,042$128,084$55,000$92,250$125,50089.5%6.3%28.7%$4,033,754$4,597,629$563,875
89University of Texas-DallasJindal School of BusinessDallas, TXUnited States$35,156$60,744$53,323$87,995$55,000$78,500$125,96292.2%9.9%31.9%$4,033,754$4,580,479$546,725
90WHU Beisheim School of ManagementVallandar, RPGermany$1$44,850$65,550$43,929$67,650$112,79482.0%10.8%42.3%$4,033,754$4,555,205$521,451
91Singapore Management UniversityLee Kong ChianSingaporeSingapore$47,249$72,379$28,077$65,700$112,17390.0%11.3%59.8%$4,033,754$4,524,901$491,147
92Erasmus UniversityRotterdam School of ManagementRotterdamNetherlands$58,075$78,775$50,000$72,905$110,00088.0%8.6%31.1%$4,033,754$4,464,910$431,156
93Edhec Business SchoolLilleFrance$50,600$64,400$45,251$81,000$107,50578.0%5.8%49.5%$4,033,754$4,394,323$360,569
94University of UtahEccles School of BusinessSalt Lake City, UTUnited States$30,000$60,000$44,000$88,000$52,500$76,500$117,00091.2%8.9%30.3%$4,033,754$4,349,391$315,637
95Hult International Business SchoolCambridge, MAUnited States$80,150$107,350$45,000$80,000$115,00090.1%7.5%34.5%$4,033,754$4,306,078$272,324
96Durham UniversityBusiness SchoolDurhamUnited Kingdom$39,300$55,020$41,251$89,928$104,30689.0%3.0%75.7%$4,033,754$4,297,967$264,213
97HEC MontrealMontreal, QCCanada$25,840$43,320$50,000$70,000$105,00052.8%8.4%42.0%$4,033,754$4,263,270$229,516
98University College DublinSmurfit Graduate Business SchoolDublinIreland$39,675$61,525$57,669$94,000$102,64393.0%1.8%35.3%$4,033,754$4,245,719$211,965
99Lancaster UniversitySchool of ManagementLancasterUnited Kingdom$39,955$52,400$53,546$75,000$104,10661.0%6.8%33.2%$4,033,754$4,244,686$210,932
100University of Paris-SeineEssec Business SchoolCergy-PontoiseFrance$51,750$72,450$54,054$80,000$102,20179.0%5.0%26.7%$4,033,754$4,186,736$152,982
101Leeds UniversityBusiness SchoolLeedsUnited Kingdom$37,990$53,710$49,714$95,450$100,04984.6%0.9%62.6%$4,033,754$4,149,579$115,825
102Fudan UniversitySchool of ManagementShanghaiChina$18,886$37,772$35,686$71,372$16,202$40,180$103,03296.5%20.7%53.4%$4,033,754$4,085,125$51,371
103City University of New YorkZicklin School of BusinessNew York, NYUnited States$28,278$56,556$55,604$111,208$44,000$78,000$104,00090.0%5.9%29.9%$4,033,754$4,022,992($10,762)
104Ryerson UniversityRogers School of ManagementToronto, ONCanada$32,813$47,141$47,500$70,000$96,00092.5%6.5%39.0%$4,033,754$3,916,807($116,947)
105University of BathSchool of ManagementBathUnited Kingdom$49,125$72,705$45,349$75,279$93,46191.0%4.4%33.0%$4,033,754$3,835,159($198,595)
106EMLyon Business SchoolParisFrance$44,275$64,975$51,572$82,000$92,51783.0%2.4%28.3%$4,033,754$3,818,837($214,917)
107University of StrathclydeStrathclyde Business SchoolGlasgowUnited Kingdom$41,200$64,780$44,086$82,000$91,81494.0%2.3%44.2%$4,033,754$3,791,661($242,093)
108State University of New York at BuffaloSchool of ManagementBuffalo, NYUnited States$28,639$57,277$46,811$93,621$35,000$54,000$91,50089.6%11.1%28.7%$4,033,754$3,655,862($377,892)
109ESIC Business & Marketing SchoolSevilleSpain$35,666$56,376$26,000$26,500$73,00063.6%22.5%27.2%$4,033,754$2,886,882($1,146,872)

6 COMMENTS

  1. Excellent initiative. This would be really informative for everyone. Just a couple of comments:

    – There should also be a 4th list of only the Pakistani institutions, for students who cannot travel abroad for any reason and are only looking at domestic options. The market is huge and the current list posted by HEC is just laughable, as their criteria is completely inappropriate. I fully agree that the biggest and foremost criteria to select a uni is not the quality of campus or the teacher or the course material but it is basically the future earning potential from a graduate of that uni, which can also be measured by the desperation among students to enroll in and prepare for their admission test.

    – Secondly, between LUMS and IBA, I’d say LUMS is ahead on marketing and HR whereas IBA is ahead in Finance. So for a student looking to have career in Finance, it is better to go to IBA than LUMS. Also, it is far harder to pass IBA admission exam test for BBA, than it is to enter into LUMS – so difference between the two universities is just marginal.

  2. Thanks for this very detailed analysis, indeed this first-of-its-kind global MBA ranking from a Pakistani perspective is the what actually opens one’s eyes who is looking forward to an MBA degree from a top US or European Business school. Kudos!

  3. This was really interesting. Clearly a 1st of its kind list among Pakistani papers.
    I think the your calculation of LUMS annual tuition fee is erroneous. The number mentioned in the list is actually actually tuition fee of 1 semester not 1 year.

  4. Usama as a graduate of 2017, I can tell you that the calculation of LUMS fees in the study is pretty much accurate.The actual cost for the MBA program is roundabout 4 lakhs per semester.

  5. This article serves mainly elite class of Pakistani students who can afford expensive local and foreign MBA Programs. The similar analysis could be more worthwhile for large number of Pakistani students with limited financial resources where HEC approved/recognized emerging local and world reputed online or distance learning MBA programs to be evaluated having less or budget tuition fee. Such analysis will be more beneficial for on-job working professionals of different fields based on bottom to top approach to serve nation more effectively with existing job experience (such as Engineers, Doctors, Artists).

    Furthermore there are many foreign universities apart from 100 listed universities which have budget tuition fee MBA Programs including combination of online cum on-campus MBA programs where program subjects are divided into fully online to on-campus class lectures. Why we always tend to compare and analyse programs which can not be approached or accessed by 95% of Pakistani students?? May be one possible reason could be research data is readily available due to better digital marketing of expensive universities ????

    With all said above, there is no doubt, this article is written well attracting desired stakeholders.

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