The Wharton School at the University of Pennsylvania offers the world’s best MBA, according to the 2025 Financial Times Global MBA Ranking. And as you might expect from such a renowned program, it’s one of the most expensive MBAs in the world.
Total tuition fees for Wharton’s full-time, two-year MBA are currently $184,560. However, to calculate the total cost of the Wharton MBA in 2024, you also need to factor in living expenses, healthcare cover, and the cost of the materials and books needed for the duration of the program.
That’s what we did when putting together our BusinessBecause Cost of MBA Report, which calculates the total cost of an MBA at the world’s top business schools.
Here’s how much the Wharton MBA costs in 2025.
Total Cost of the Wharton MBA
Based on our research, a conservative estimate of the total cost of pursuing an MBA at Wharton in 2025 is around $267,500.
However, it’s worth pointing out that this is just an estimate, and the true figure could vary depending on your personal circumstances. For example, it’s likely to be a little lower if you choose to stay in shared accommodation rather than renting your own flat.
Here’s a breakdown of the total cost of the Wharton MBA in 2025.
Download the free BusinessBecause Cost of MBA Report 2025
Wharton MBA Cost Breakdown
Total cost of pursuing the Wharton MBA in 2025, including tuition fees, living expenses, healthcare insurance, and a one-year estimate for additional fees and other listed costs (such as books and materials).
Tuition fees
If you were starting the Wharton MBA in 2025, your total tuition fees would be $184,560. According to the BusinessBecause Cost of MBA Report 2025, this makes it the most expensive MBA in the world based on tuition fees alone.
Living expenses
Our estimated living expenses for the Wharton MBA are minimum estimates based on the lifestyle of a single student, covering on-campus accommodation and transport but excluding additional social activities such as student trips, networking events, and MBA clubs.
It is worth noting that living expenses in Philadelphia, Wharton's location, are relatively low compared with larger, more populated cities such as New York or Los Angeles.
Healthcare cover
Wharton’s listed healthcare costs cover the Wharton Student Health Insurance Plan, which costs $4,662.
We’ve doubled these costs to get a two-year estimate on healthcare cover at Wharton of $9,324.
Materials
Wharton charges additional required fees of $4,850, and predicts students in 2025 will spend $1,080 on books and supplies. Again, it’s worth pointing out that this is just an estimate, and your true costs could vary depending on your circumstances.
Wharton MBA cost comparison
The Wharton MBA is the third most expensive MBA in the world in terms of overall cost, according to our most recent Cost of MBA Report. We estimate that you’ll pay more to pursue an MBA at both MIT Sloan and Stanford in 2025.
The Cost of MBA Report includes details of the costs of the top 20 Full-Time MBAs in the FT Global MBA ranking plus Stanford, one of the world's most applied to global business schools. According to our report, MIT Sloan, the world’s most expensive MBA program, costs a total of $274,700, compared to $271,542 at Stanford and $267,498 at Wharton.
The only non-US business school in the top 10 is London Business School.
Top 10 Most Expensive MBA Programs
In terms of MBA tuition fees, Wharton has the fifth highest of the world’s top business schools.
While the tuition fees are extremely high, due to the caliber of teaching and the school and university's reputation, living costs for Wharton MBA students sit lower down the table.
Wharton is eighth in terms estimated living costs for the two-year program, and only costs more than two of the other M7 business schools: Kellogg and Columbia.
Wharton’s healthcare cover is competitive with other US schools, costing much less than institutions such as Duke Fuqua, Stanford, and UCLA.
How to Fund the Wharton MBA
Student loans
Two of the most popular MBA student loan providers are Prodigy and Juno. While Prodigy lends based on academic ability rather than credit score, Juno negotiates lower borrowing rates for large groups of applicants.
Scholarships
Wharton doesn’t advertise any MBA scholarships on its website. The school advises you to research scholarship opportunities from external sources.
Instead, Wharton advertises a range of fellowships available at the school.
Wharton MBA fellowship program
There are a range of fellowships available at Wharton. All admitted students are automatically considered for a Wharton Fellowship.
Criteria for Wharton fellowship selection are as follows:
1. Unique personal qualities and background
2. Academic achievement
3. Exceptional professional development
4. Community involvement
Awards are offered in your admission and financial aid letter. Fellowships are two-year awards, split equally over four semesters for a typical MBA student.
Paying in excess of $250k for two years of study sounds like a lot, but the Wharton MBA offers an exceptional return on investment. According to the 2025 Financial Times Global MBA Ranking, Wharton MBA graduates see an average salary increase of 113% and their average salary three years after graduation is almost the same as the cost of their entire MBA, at $245,197.
If you're still concerned about how to afford a full-time MBA, we have some tips on how to save money during your MBA.
Download our free BusinessBecause Cost of MBA Report 2025 to discover everything you need to know about MBA costs at the world’s top business schools, with tips on MBA scholarships and increasing your MBA ROI.
