MIT Sloan offers the most expensive top MBA program in the world, according to the BusinessBecause Cost of MBA Report 2020 released today. The MIT Sloan MBA will set students back over $237.6k for 24 months of study.
The BusinessBecause report 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 $154k, are lower than estimated tuition fees at Columbia, Tuck, and Wharton, other expenses students incur during an MBA program make the overall MBA experience at MIT the most expensive.
Cost of an MBA in the USA
Narrowly following MIT Sloan in second place is Stanford Graduate School of Business, with a total cost of $237,288. Wharton completes the top three, with a total cost of $229,792.
The rest of the top 15 are all US-based business schools—the remaining 11 schools are all outside of the US. The more expensive total cost in the US comes down to the more traditional, two-year MBA programs there, as opposed to the shorter, often cheaper programs in Europe and Asia.
In fourth place is Harvard Business School with a total cost of $222,204. Harvard is followed by NYU Stern ($222,077), Dartmouth Tuck (221,824), Columbia (216,306), and Yale ($209,320). The top 10 is completed by Chicago Booth ($207,997) and Darden ($207,672).
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.
The highest-ranked MBA programs are not necessarily the most expensive. MIT Sloan’s MBA program is ranked sixth in the world by the Financial Times but is top for overall cost. While Harvard Business School, which is ranked first by the FT, comes fourth overall in terms of total cost.
Cost of an MBA internationally
Outside the US, the most expensive top MBA is found at the UK’s London Business School, with a total cost of $173,393.
Following London Business School is IMD Business School in Switzerland, with a total cost of $133,566. IMD is followed by IESE Business School ($126,879), then INSEAD’s Singapore MBA ($117,629) and INSEAD’s MBA in France ($113,914).
Esade Business School in Spain is next with an MBA that costs $110,187. Then there’s HEC Paris ($100,467), HKUST Business School ($100,416), and Oxford’s Saïd Business School ($94,634). Oxford’s English counterpart, Cambridge Judge Business School, is the third least expensive program on the list, with a cost of $88,537.
Cambridge is only slightly more expensive than the second least expensive MBA, that at the China Europe International Business School (CEIBS). The CEIBS MBA costs £88,025 and is incidentally ranked fifth 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 15th in the world by the FT.