Our Cost of MBA Report, published in partnership with MBA loans company Juno, estimates the total cost of the world's top full-time MBA programs by combining the estimated cost of tuition for two years (for US programs) with additional fees, living expenses, healthcare costs, and money spent on program materials.
While MIT Sloan's estimated tuition fees for two years, at around $158k, are lower than estimated tuition fees at Wharton, other expenses students incur during an MBA program make the overall MBA experience at MIT the most expensive—and the cost of an MBA is increasing!
Cost of an MBA in the USA
So which are the most expensive MBA programs? Narrowly following MIT Sloan as the second most expensive MBA program in 2021 is NYU Stern, with a total cost of $240,945. Stanford Graduate School of Business completes the top three, with a total cost of $239,928.
All but one of the top 15 most expensive MBAs are offered by US-based business schools, with the UK’s London Business School the 14th most expensive with a total cost of $196,635.
The more expensive total cost in the US mostly comes down to the more traditional, two-year MBA programs there, as opposed to the shorter, often cheaper programs in Europe and Asia.
The world’s fourth most expensive MBA program is found at Wharton, with a total cost of $230,864. Wharton is followed by Dartmouth Tuck ($226,620), Harvard Business School ($223,084), Columbia Business School ($221,362), and Chicago Booth ($218,435). The top 10 is completed by Berkeley Haas ($215,732) and Northwestern Kellogg School of Management ($213,420).
The BusinessBecause Cost of MBA Report focuses on the total cost of the world's top-25 MBA programs as ranked by the Financial Times in 2020 and 2021.
The highest-ranked MBA programs are not necessarily the most expensive. INSEAD is ranked the best MBA program in the world by the Financial Times, but costs less than top US schools, between $132,000 and $137,000 depending on whether you study in France or Singapore. The INSEAD MBA is a 10-month MBA program.
Cost of an MBA internationally
Outside the US, the most expensive top MBAs are found at the UK’s London Business School, and IMD Business School in Switzerland ($145,606).
Following IMD is IESE Business School in Spain, with a total cost of $143,476. IESE is followed by INSEAD’s Singapore MBA ($136,352) and INSEAD’s MBA in France ($132,288).
Esade Business School in Spain is next with an MBA that costs $124,242. Then there’s HEC Paris ($120,055), Oxford’s Saïd Business School ($112,101), and Oxford’s English counterpart, Cambridge Judge Business School, ($104,151).
China Europe International Business School (CEIBS) is the third least expensive program on the list, with a cost of $99,573.
CEIBS is only slightly more expensive than the second least expensive top-ranked MBA, at SDA Bocconi. The Bocconi MBA costs $92,383 and is ranked 12th in the world by the Financial Times.
The cheapest place to do a top-ranked MBA is at NUS Business School in Singapore, a program ranked 14th in the world by the FT.