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10 Best MBA Programs In the US Revealed | Financial Times MBA Ranking

Which are the top ten MBA programs in the US? Find out which business schools are best according to the Financial Times MBA ranking 2024

Wed Feb 14 2024

Rankings don’t offer all the answers when choosing which MBA to apply to—but they’re certainly worth a look.

The Financial Times Global MBA ranking provides important school intel such as the salaries that graduates achieve, postgraduate employment rates, the diversity of the class and its ESG (environmental, social and governance) teaching rating.

In the recently published 2024 Financial Times Global MBA ranking, US business schools make up 43 of the top 100 spots—with six institutions in the global top 10.

There are some surprises. Graduates from Stanford Graduate School of Business continue to command the highest MBA salaries (US$250,650 on average, three years after graduation) but the school has seen its overall ranking drop from 4th in the 2023 FT ranking to 23rd in 2024.

Harvard Business School, another M7 school, has also dropped out of the top 10 in the global ranking, but remains in the top 10 US programs. 

Find out the top 10 US business schools according to the 2024 Financial Times Global MBA ranking:

10. Yale School of Management

Estimated cost of attendance: $229,220 

The Yale School of Management MBA has a rich history of producing some of the finest business graduates.

A Yale MBA offers excellent career prospects. As with most schools in the US top 10, consulting and finance make up two key recruiting sectors for Yale MBA grads. From the Class of 2023, 44% went into consulting in firms such as McKinsey & Company, Bain & Company, Accenture and Oliver Wyman. Financial firms such as BlackRock, Morgan Stanley, BlackRock and Citi were also at the forefront of hiring Yale MBAs.

The program prepares students to manage businesses profitably and build a career out of it. Within three years of graduation, Yale MBAs command salaries of around $199,746, according to the FT ranking.

9. Duke University's Fuqua School of Business

Estimated cost of attendance: $212,630

Duke University Fuqua School of Business offers a dynamic MBA program that places a lot of emphasis on community and values. Students come from a range of backgrounds to develop managerial skills and get a career boost with an MBA from Duke.

On average, the MBA’s Class of 2025 has around 6.1 years of work experience and largely come from financial services, technology, and consulting backgrounds. Interesting also—19% of the current class are either serving or have served in the US military.

The program offers courses in accounting, decision sciences, economics, finance, energy and accounting, leadership communication, and others. 

Three months after graduation, 93% of the most recent MBAs had job offers. School career support is strong and among those using Duke’s networking opportunities or work experience to land a role, about half had converted an internship into a permanent position.

Yale MBA graduates command salaries of $204,186 on average (three years from graduation), and largely go into consulting and financial services. 

8. Dartmouth College: Tuck

Estimated cost of attendance: $241,897

The Dartmouth College Tuck School of Business MBA program covers analytics, corporate finance and capital markets, managerial and global economics, marketing, organizational behavior, strategy, communications, and operations.

As expected from a top-ranked MBA, there are numerous study- or work-abroad options, as well as electives that allow students to hone their skills in specific areas. Interesting ‘Sprint Courses’ include topics such as US-China Relations, Reverse Innovation, and Wicked Problems: Health, Wealth and Sustainability.

Most MBA graduates go into (or return to) consulting (46%) or the financial services field (23%) and command an average salary of $211,515 within three years of graduation. Top employers include Bain & Company, McKinsey, and Boston Consulting Group, EY, Deloitte, Google and Amazon—among others.

7. Harvard Business School

Estimated cost of attendance: $ $236,804

Harvard Business School is the birthplace of the MBA. Despite a dip in performance in this year’s FT Global MBA ranking, its reputation precedes it. Harvard alumni lead some of the top companies and organizations in the world.

An MBA from Harvard is guaranteed to take your career to the next level and will open up a diverse range of opportunities. Apple, Microsoft, and SpaceX are among the hirers of Harvard MBA grads

Traditional MBA routes such as finance and consulting are also popular among HBS grads. Many go land jobs at the big three consulting firms, Bain, McKinsey, and Boston Consulting Group (BCG), as well as firms such as IBM and JP Morgan Chase. 

The Harvard MBA program offers courses in business, strategy, finance, leadership, and most grads can command high salaries—on average $246,509, within three years of graduation.

6. University of Chicago: Booth

Estimated cost of attendance: $230,931

University of Chicago’s Booth School of Business MBA program has been producing experienced grads leading companies and teams all over the world. As an elite M7 business school, MBAs are in demand, with 96% securing full-time roles three months from graduation. The biggest employers of the 2023 cohort were McKinsey, BCG, Bain and Amazon.   

The Booth MBA program lasts around 21 months and focuses on accounting, economics, psychology, sociology, statistics, and other topics related to management. 

The latest intake has 637 students, mostly from the US but with 54 countries represented. Upon entry, students have an average of five years’ work experience and come mostly from business, engineering, and economics backgrounds. 

Within three years, MBAs from Booth can command salaries of around $228,901, according to the FT ranking. 

5. Cornell University: Johnson

Estimated cost of attendance: $216,169

Cornell Johnson Graduate School of Management is a highly regarded full-time MBA program with a STEM designation option. Students at the Ivy League school can command salaries of $194,542 within three years of graduation. Of the MBA class of 2023, 42% entered consulting upon graduation, while 35% went into financial services. Hiring companies include BCG, McKinsey, Bain, EY, Deloitte and many other desirable firms.

In 2023, the two-year MBA program accepted students who were on average 28 years old, with 5.4 years’ work experience. Cornell-Johnson helps students learn common aspects of management such as marketing, finance, and human resources and places a lot of emphasis on developing strong analytical and decision-making skills. 

4. MIT: Sloan

Estimated cost of attendance: $223,784

The management program at MIT’s Sloan Institute of Management focuses slightly more on the technology sector compared to other programs in the top 10—and the intake reflects this. Most students are from engineering, technology, and economics backgrounds. The latest intake comes from around 60 different countries, and around a third can expect to go on to work in consulting, with technology and finance being the second most favoured career destinations—around a fifth of grads go into each.

The program offers courses in finance, marketing, and strategy, along with other management streams, and has courses to build leadership skills among students, such as the Spring Sloan Intensive Period.

 Within three years of graduation MIT: Sloan MBAs achieve an average salary of $229,639. 

3. Northwestern University, Kellogg School of Management

Estimated cost of attendance: $230,870

The Kellogg School of Management MBA has a history of producing high-quality management professionals. The recent class was no exception with students going on top positions in top organizations worldwide. In 2023, by graduation, 22% of students had secured positions in the financial services sector. Private equity is a top destination, and the program has specialist classes and experiences to support this such as The Advanced Private Equity Experience (APEX) and a Private Equity and Venture Capital Pathway.

Other top industries for grads are consulting and tech.

Three years after graduation, MBAs achieve an average salary of $216,134. 

2. Columbia Business School

Estimated cost of attendance: $247,163

Columbia Business School is a tough school to enter—just 900 students were selected from 5895 applications in the last cohort (an acceptance rate of around 15%). Of those who made the grade, around 47% were international students, and on average the students had five years of work experience. 

In 2023 Columbia topped the FT Global MBA ranking and the New York-based Ivy League school offers courses in leadership, finance, accounting, and marketing. Once graduated, students command an average salary of $232,760. It boasts a high-achieving class: around a third of Columbia MBA graduates in 2023 went to work at McKinsey, BCG, and Bain.

1. University of Pennsylvania: Wharton

Estimated cost of attendance: $240,084

University of Pennsylvania’s Wharton MBA program is ranked number one according to Financial Times Global MBA ranking in 2024. The Ivy League school’s program had dropped out of the ranking in 2023 due to a lack of graduate responses to the mandatory alumni survey.

Wharton is exclusive, with 874 students enrolled in the latest cohort from 6194 applications (an acceptance rate of 14%). The Wharton MBA Class of 2025 (2023 intake) achieved gender parity and students had around five years of prior work experience, with the majority having worked in consulting, private equity/venture capital and technology.

Besides accounting, business, finance, and other regular management concepts, the Wharton program also offers courses on DEI and innovation, and entrepreneurship. 

Grads from the program usually go into (or return to) consulting and strategy businesses, with an average salary of $245,772. 

 *The cost of attendance is an estimate, calculated for the BusinessBecause Cost of MBA Report 2023.