Top 10 Best Business Schools
The rankings for best business schools become a tough contest every year. The nations top programs are compared side by side on their merits by the U.S. News and World Report annually. Internet search engines then define each school by the number assigned to them by this yearly list. However, ranking in the top 10 best business schools in the nation is no easy feat! Any students who attend any of these top 10 should be proud. Furthermore, attendance at one of these prestigious schools will look very impressive on a resume.
Here’s a breakdown of the top 10 best business schools in the nation, and what makes each school so great!
1. Harvard School of Business
Harvard usually has the prime spot on rankings, as its’ a prestigious Ivy League school with an abundant history. It has appeared on our list of best business schools AND best schools for entrepreneurs. The competitive MBA program accepts just under 10% of applications. However, one of the major draws of attending Harvard University is its’ graduate employment rate. In spite of a hefty out-of-state tuition rate of almost $79,000 yearly, approximately 79% of students find employment at graduation. At three months, the number spikes up to approximately 90%. In addition, graduates can usually expect to enjoy an average starting salary of $158,000. That’s nothing to sneeze at!
2. Booth School of Business, University of Chicago
Yes, you read that number correctly! This is the first year that Booth has tied for first with Harvard University. This is a feather in the cap for public university students everywhere and proves you don’t need an Ivy League school for a quality education. In addition, Booth’s acceptance rate is slightly more friendly at about 24%. Tuition and fees are also about $9,000 less at $70,000. One factor that ranks above Harvard University’s stats is graduate employment rate. Graduates are employed at a rate of 88% by graduation, and the number increases to 95% after 3 months. Students can expect to learn alongside approximately 1,200 other students while at Booth.
3. Wharton School at University of Pennsylvania
Wharton School made another list of ours as a top school for entrepreneurs, so it makes sense they would be a top performer in business degrees. The acceptance rate is 19% for U-Penn, with a higher graduation employment rate than Harvard University. Out of state tuition and fees fall between Harvard and the University of Chicago at $77,000. For students wanting an Ivy League education with a better chance of acceptance, Wharton is an excellent choice.
4. Stanford University
The next on the list can be found on the other coast in the prestigious halls of Stanford University. Boasting an even more competitive rate of acceptance than Harvard, Stanford only admits 6% of applicants. Those lucky enough to be accepted to the MBA program find themselves studying alongside a small group of approximately 850 students. The average starting salary is about $159,000, but it takes a little longer to find employment. Only 64% are employed at graduation, but the number climbs to an acceptable 88% after three months. However, Stanford’s tuition is slightly more friendly than others rankers, coming in at $69,000 for out of state residents.
5. Sloan at MIT
With an acceptance rate of 12% and a high employment rate, Sloan at MIT makes so good option for the middle of the list. 84% of students are employed at graduation, and also 94% in three months of completing graduation. On average, Sloanies can expect to make about $148,000 as a starter salary. School size is small compared to a few on this list, with enrollment at 813 per year. Lastly, the cost of the MIT reputation on your resume? $71,000 for out-of-state residents.
6. Kellogg School of Business at Northwestern University
Kellogg School of Business is a friendly option for MBA students that didn’t go above as well as beyond, as undergraduates. The average undergrad GPA here is 3.60, and also the school admits a liberal 20% of applicants. MBA students can expect a larger class size of 1,300 here. Although Northwestern is not an Ivy League like some of the top rankers on this list, it still gets wonderful percentages for employment. So, 82% can expect to be making a salary of $146,000 at graduation, and 93% in three months after graduation. You’ll also shave a couple thousand off your tuition stepping down from Ivy League pricing, as well. Out-of-state tuition is about $70,000 to attend the Kellogg School of Business.
7. Ross School of Business at U-Michigan (Ann Arbor)
Smaller class sizes, easier acceptance rates and a good chance of employment are what you’ll find at the Ross School of Business. You only need around a 3.5 GPA to be a serious contender for the 25% acceptance rate. 94% of graduates will be employed three months after graduation, and the starting salary is nothing to sneeze at! The average of $150,000 tops a lot of schools on this list. The best part is it doesn’t cost nearly as much either. Out of state tuition and fees are in the upper $60,000’s.
8. Haas School of Business at UC Berkeley
We’re going back to the West Coast for number 8. Have you ever wondered why top rankers aren’t in the flyover states? Anyway, UC Berkeley is one of the best business schools in the California public university system, and you have to be a serious student to get in. If you didn’t get close to a 3.71 GPA, Haas may be a tough sell. The Haas School of Business only accepts approximately 13% of applicants, making for the smallest class size on this list at about 550. Although a Berkeley education is nothing to sneeze at in the business realm, employment rates only hit about 90% after three months and the average starting salary floats at about $147,000. However, a major bonus for most students is that out-of-state tuition is only $59,811, granting nearly $10,000 in savings on several schools ranking above UC Berkeley.
9. Columbia University
Columbia is an old and prestigious business school that certainly looks great on a resume. But how does it compare to other Ivy League schools on this list? Not quite as well, if we’re honest. The acceptance rate is a little higher than most at 14%, and tuition costs fall in the middle of previous examples at about $74,000. While some may be willing to pay that much for Ivy League recognition, only 89% of Columbia grads find work after 3 months post-completion. However, those that do can expect a higher average starting salary at nearly $152,000.
10. Tuck at Dartmouth College
Dartmouth is another elite Ivy League school in the Northeast and it shapes up very competitively against its 7 conference members. Acceptance is liberal at 23%, and you only need a 3.50 to be seriously considered. MBA students at Tuck can expect their class sizes to be smaller and more focused with about 580 peers in their graduating classes. Speaking of graduation, Tuck graduates earn third-highest earnings on this list behind Harvard and Stanford. After three months post-grad, 92% of Tuck students can expect to earn an average of $153,000. Finally, the cost of Dartmouth prestige on your resume isn’t the highest or the lowest on the list, coming in at $72,000 for out-of-state tuition.
Best Business Schools in the Nation
Each school on this list offers different approaches to business education. Furthermore, some schools have tracks that are more successful or celebrated than others! For example, schools on the West Coast see immense success in business relating to tech fields because of nearby Silicon Valley. Ivy League education institutions have prestige, honor, and tradition from their history and elitism. The connections forged by these schools and networking opportunities produce some of the most successful businessmen in powerful cities. The rank and number of your prospective school don’t have to be anything but a thoughtful indicator. This list of the ten best business schools in the nation is merely a guide. The most important part of selecting your school is choosing one that will set you up for success in your future field.
Are you all ready to send in your MBA application to one of these fine schools? We’re cheering you on! Put together a gorgeous packet in one of our custom presentation folders to leave an unforgettable impression.
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