The dynamics of MBA programs and business schools have changed the last few years, and not just in terms of higher median GMAT scores, GPAs, and lower acceptance rates due to higher application numbers, but also in regards to huge increases in full-time tuitions and total costs of attendance per year. Even application costs have become astronomical when you consider application fees, GMAT preparation classes, exam costs, and visits to post-graduate campuses, meaning applicants aren’t just competing with the best and brightest any more, but with candidates who are well-funded and/or highly driven to recoup the costs of their Master’s Degree.
However, increasing costs and competition aren’t the only developments with the best business schools. Prospective MBA students no longer desire just the traditional business school experience and skills. You will notice that a vast majority of the top business schools, 21 out of 25, now offer “Entrepreneurship” as one of the many areas of concentration, demonstrating applicants’ ambitions to leverage their MBA program to help them with their own start-up companies or join existing ones.
Furthermore, as the economy continues to improve, companies will feel more comfortable bringing in new talent and the demand for MBA graduates will increase. In a survey, more than 75% of companies noted they will be hiring MBAs in 2012 as opposed to 58% in 2011. If you are considering an MBA program, this may be the best time to start planning attendance, right before the economy begins to boom again.
Gajizmo.com is proud to present our list of the top best business schools and MBA programs.
1. Harvard University Business School
- Acceptance Rate: 11%
- Median GMAT Admitted: 740
- Median GPA Admitted: 3.78
- Full-Time Tuition: $53,500
- Total Cost of Attendance Per Year: $87,200
- Average Post-Graduation Salary: $120,000
- Part-Time Program Offered: No
- School Type: Private
- Total Faculty: 270
- Application Fee: $250
- Areas of Concentration: Entrepreneurship, Healthcare, International Business, Leadership/Management, Non-Profit/Public Administration
2. Stanford University Business School
- Acceptance Rate: 7%
- Median GMAT Admitted: 730
- Median GPA Admitted: 3.6
- Full-Time Tuition: $57,300
- Total Cost of Attendance Per Year: $90,500
- Average Post-Graduation Salary: $125,000
- Part-Time Program Offered: No
- School Type: Private
- Total Faculty: 285
- Application Fee: $265
- Areas of Concentration: Entrepreneurship, International Business, Leadership/Management, Media/Entertainment, Non-Profit/Public Administration, Supply Chain Management
3. University of Pennsylvania – Wharton
- Acceptance Rate: 9%
- Median GMAT Admitted: 720
- Median GPA Admitted: 3.75
- Full-Time Tuition: $62,000
- Total Cost of Attendance Per Year: $93,000
- Average Post-Graduation Salary: $115,000
- Part-Time Program Offered: No
- School Type: Private
- Total Faculty: 225
- Application Fee: $250
- Areas of Concentration: Accounting, Entrepreneurship, Finance, Healthcare, Human Resources, Information Systems, International Business, Non-Profit/Public Admin, Organizational Behavior, Real Estate
4. MIT – Sloan
- Acceptance Rate: 13%
- Median GMAT Admitted: 710
- Median GPA Admitted: 3.6
- Full-Time Tuition: $58,200
- Total Cost of Attendance Per Year: $89,000
- Average Post-Graduation Salary: $110,000
- Part-Time Program Offered: No
- School Type: Private
- Total Faculty: 115
- Application Fee: $250
- Areas of Concentration: Entrepreneurship, Finance, Information Systems, Leadership/Management, Real Estate
5. UC Berkeley – Haas
- Acceptance Rate: 16%
- Median GMAT Admitted: 715
- Median GPA Admitted: 3.61
- Full-Time Tuition: $54,000
- Total Cost of Attendance Per Year: $80,000
- Average Post-Graduation Salary: $110,000
- Part-Time Program Offered: Yes
- School Type: Public
- Total Faculty: 220
- Application Fee: $200
- Areas of Concentration: Accounting, Economics, Entrepreneurship, Finance, Healthcare, Information Systems, International Business, Leadership/Management, Non-Profit/Public Administration, Real Estate
6. University of Chicago – Booth
- Acceptance Rate: 13%
- Median GMAT Admitted: 715
- Median GPA Admitted: 3.52
- Full-Time Tuition: $56,000
- Total Cost of Attendance Per Year: $88,000
- Average Post-Graduation Salary: $110,000
- Part-Time Program Offered: Yes
- School Type: Private
- Total Faculty: 205
- Application Fee: $200
- Areas of Concentration: Accounting, Economics, Entrepreneurship, Finance, Human Resources, International Business, Organizational Behavior
7. Columbia University Business School
- Acceptance Rate: 13%
- Median GMAT Admitted: 715
- Median GPA Admitted: 3.5
- Full-Time Tuition: $58,000
- Total Cost of Attendance Per Year: $89,000
- Average Post-Graduation Salary: $106,000
- Part-Time Program Offered: No
- School Type: Private
- Total Faculty: 150
- Application Fee: $250
- Areas of Concentration: Accounting, Economics, Entrepreneurship, Finance, Healthcare, Human Resources, International Business, Leadership/Management, Media/Entertainment, Real Estate, Supply Chain Management
8. Northwestern University – Kellogg
- Acceptance Rate: 20%
- Median GMAT Admitted: 710
- Median GPA Admitted: 3.7
- Full-Time Tuition: $75,000
- Total Cost of Attendance Per Year: $111,000
- Average Post-Graduation Salary: $107,000
- Part-Time Program Offered: Yes
- School Type: Private
- Total Faculty: 280
- Application Fee: $250
- Areas of Concentration: Accounting, Economics, Entrepreneurship, Finance, Healthcare, Human Resources, Information Systems, International Business, Leadership/Management, Media/Entertainment, Non-Profit/Public Administration, Organizational Behavior, Real Estate
9. Yale University
- Acceptance Rate: 17%
- Median GMAT Admitted: 720
- Median GPA Admitted: 3.55
- Full-Time Tuition: $55,000
- Total Cost of Attendance Per Year: $82,000
- Average Post-Graduation Salary: $100,000
- Part-Time Program Offered: No
- School Type: Private
- Total Faculty: 135
- Application Fee: $225
- Areas of Concentration: Accounting, Economics, Entrepreneurship, Human Resources, International Business, Leadership/Management, Non-Profit/Public Admin, Supply Chain Management
10. Dartmouth College – Tuck
- Acceptance Rate: 17%
- Median GMAT Admitted: 720
- Median GPA Admitted: 3.5
- Full-Time Tuition: $56,000
- Total Cost of Attendance Per Year: $88,500
- Average Post-Graduation Salary: $105,000
- Part-Time Program Offered: No
- School Type: Private
- Total Faculty: 50
- Application Fee: $225
- Areas of Concentration: Entrepreneurship, Finance, Healthcare, Information Systems, International Business, Leadership/Management, Non-Profit/Public Administration
11. New York University (NYU) – Stern
- Acceptance Rate: 21%
- Median GMAT Admitted: 720
- Median GPA Admitted: 3.51
- Full-Time Tuition: $56,000
- Total Cost of Attendance Per Year: $93,000
- Average Post-Graduation Salary: $100,000
- Part-Time Program Offered: Yes
- School Type: Private
- Total Faculty: 350
- Application Fee: $215
- Areas of Concentration: Accounting, Economics, Finance, Information Systems, International Business, Investment Banking, Leadership/Management, Non-Profit/Public Admin, Organizational Behavior, Supply Chain Management
12. University of California – Los Angeles – Anderson
- Acceptance Rate: 23%
- Median GMAT Admitted: 705
- Median GPA Admitted: 3.56
- Full-Time Tuition: $50,000
- Total Cost of Attendance Per Year: $78,000
- Average Post-Graduation Salary: $97,000
- Part-Time Program Offered: Yes
- School Type: Public
- Total Faculty: 150
- Application Fee: $200
- Areas of Concentration: Accounting, Economics, Entrepreneurship, Finance, Human Resources, Information Systems, International Business, Media/Entertainment, Organizational Behavior, Real Estate
13. University of Michigan – Ann Harbor – Ross
- Acceptance Rate: 30%
- Median GMAT Admitted: 705
- Median GPA Admitted: 3.4
- Full-Time Tuition: $50,000
- Total Cost of Attendance Per Year: $75,000
- Average Post-Graduation Salary: $103,000
- Part-Time Program Offered: Yes
- School Type: Public
- Total Faculty: 250
- Application Fee: $200
- Areas of Concentration: Accounting
14. University of Virginia – Darden
- Acceptance Rate: 15%
- Median GMAT Admitted: 710
- Median GPA Admitted: 3.50
- Full-Time Tuition: $49,000
- Total Cost of Attendance Per Year: $82,000
- Average Post-Graduation Salary: $100,000
- Part-Time Program Offered: No
- School Type: Public
- Total Faculty: 75
- Application Fee: $215
- Areas of Concentration: Entrepreneurship, International Business, Leadership/Management
15. Cornell University – Johnson
- Acceptance Rate: 27%
- Median GMAT Admitted: 700
- Median GPA Admitted: 3.3
- Full-Time Tuition: $54,000
- Total Cost of Attendance Per Year: $76,000
- Average Post-Graduation Salary: $97,000
- Part-Time Program Offered: No
- School Type: Private
- Total Faculty: 120
- Application Fee: $200
- Areas of Concentration: Entrepreneurship, Finance, International Business, Investment Banking, Leadership/Management, Real Estate
16. Carnegie Mellon – Tepper
- Acceptance Rate: 24%
- Median GMAT Admitted: 695
- Median GPA Admitted: 3.3
- Full-Time Tuition: $55,000
- Total Cost of Attendance Per Year: $79,000
- Average Post-Graduation Salary: $94,000
- Part-Time Program Offered: Yes
- School Type: Private
- Total Faculty: 110
- Application Fee: $125
- Areas of Concentration: Accounting, Economics, Entrepreneurship, Finance, Information Systems, International Business, Leadership/Management, Non-Profit/Public Admin, Organizational Behavior, Supply Chain Management
17. University of North Carolina – Kenan-Flagler
- Acceptance Rate: 30%
- Median GMAT Admitted: 700
- Median GPA Admitted: 3.3
- Full-Time Tuition: $35,000/$54,000 (Out-of-State)
- Total Cost of Attendance Per Year: $60,000/$78,500 (Out-of-State)
- Average Post-Graduation Salary: $94,000
- Part-Time Program Offered: No
- School Type: Public
- Total Faculty: 115
- Application Fee: $145
- Areas of Concentration: Accounting, Entrepreneurship, Finance, Real Estate, Supply Chain Management
18. University of Texas – Austin – McCombs
- Acceptance Rate: 30%
- Median GMAT Admitted: 695
- Median GPA Admitted: 3.43
- Full-Time Tuition: $33,000/$49,000 (Out-of-State)
- Total Cost of Attendance Per Year: $53,000/$69,000 (Out-of-State)
- Average Post-Graduation Salary: $95,000
- Part-Time Program Offered: Yes
- School Type: Public
- Total Faculty: 130
- Application Fee: $175
- Areas of Concentration: Accounting, Entrepreneurship, Finance, Information Systems, International Business, Investment Banking, Leadership/Management, Non-Profit/Public Admin, Real Estate, Supply Chain Management
19. University of Southern California – Marshall
- Acceptance Rate: 27%
- Median GMAT Admitted: 690
- Median GPA Admitted: 3.35
- Full-Time Tuition: $54,000
- Total Cost of Attendance Per Year: $84,000
- Average Post-Graduation Salary: $94,000
- Part-Time Program Offered: Yes
- School Type: Private
- Total Faculty: 210
- Application Fee: $150
- Areas of Concentration: Accounting, Entrepreneurship, Finance, Healthcare, Information Systems, International Business, Investment Banking, Leadership/Management, Real Estate, Supply Chain Management
20. University of Wisconsin – Madison
- Acceptance Rate: 40%
- Median GMAT Admitted: 680
- Median GPA Admitted: 3.35
- Full-Time Tuition: $16,000/$30,000 (Out-of-State)
- Total Cost of Attendance Per Year: $32,000/$46,000 (Out-of-State)
- Average Post-Graduation Salary: $84,000
- Part-Time Program Offered: Yes
- School Type: Public
- Total Faculty: 50
- Application Fee: $56
- Areas of Concentration: Finance, Human Resources, Investment Banking, Leadership/Management, Real Estate, Supply Chain Management
21. Rice University – Jones
- Acceptance Rate: 28%
- Median GMAT Admitted: 675
- Median GPA Admitted: 3.40
- Full-Time Tuition: $46,500
- Total Cost of Attendance Per Year: $78,000
- Average Post-Graduation Salary: $95,000
- Part-Time Program Offered: Yes
- School Type: Private
- Total Faculty: 130
- Application Fee: $125
- Areas of Concentration: Accounting, Entrepreneurship, Finance, International Business
22. Georgetown University – McDonough
- Acceptance Rate: 40%
- Median GMAT Admitted: 685
- Median GPA Admitted: 3.35
- Full-Time Tuition: $52,000
- Total Cost of Attendance Per Year: $77,000
- Average Post-Graduation Salary: $92,000
- Part-Time Program Offered: Yes
- School Type: Private
- Total Faculty: 105
- Application Fee: $175
- Areas of Concentration: Finance, International Business
23. Vanderbilt University – Owen
- Acceptance Rate: 21%
- Median GMAT Admitted: 685
- Median GPA Admitted: 3.37
- Full-Time Tuition: $45,000
- Total Cost of Attendance Per Year: $65,000
- Average Post-Graduation Salary: $86,000
- Part-Time Program Offered: No
- School Type: Private
- Total Faculty: 65
- Application Fee: $0
- Areas of Concentration: Accounting, Economics, Entrepreneurship, Healthcare, Human Resources, Information Systems, International Business, Investment Banking, Leadership/Management, Media/Entertainment, Non-Profit/Public Admin, Organizational Behavior, Supply Chain Management
24. University of Notre Dame – Mendoza
- Acceptance Rate: 35%
- Median GMAT Admitted: 710
- Median GPA Admitted: 3.31
- Full-Time Tuition: $45,500
- Total Cost of Attendance Per Year: $65,000
- Average Post-Graduation Salary: $86,000
- Part-Time Program Offered: No
- School Type: Private
- Total Faculty: 90
- Application Fee: $175
- Areas of Concentration: Entrepreneurship, Finance, Investment Banking, Leadership/Management
25. Duke University – Fuqua
- Acceptance Rate: 25%
- Median GMAT Admitted: 660
- Median GPA Admitted: 3.4
- Full-Time Tuition: $50,000
- Total Cost of Attendance Per Year: $80,000
- Average Post-Graduation Salary: $102,000
- Part-Time Program Offered: No
- School Type: Private
- Total Faculty: 140
- Application Fee: $200
- Areas of Concentration: Entrepreneurship, Finance, Healthcare, Leadership/Management, Non-Profit/Public Administration, Supply Chain Management
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