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Real Numbers of MBA Admissions: Cost of MBA Programs in the U.S.

mba cost in us

In this edition of Real Numbers of MBA Admissions, see the total cost of a full-time MBA per year at U.S. schools. Tuition comprises most of the cost of each program. Other factors, including room and board, program fees, books and supplies, health insurance, transportation and other expenses, have been added to provide the total cost of an MBA in the U.S. by year.

Most business schools provide a breakdown of the expenses, which are posted under the financial aid or admissions section of their websites. Schools also typically take the total cost of attendance into account when calculating the financial aid package students receive. Many programs also offer fellowships and scholarships to offset the cost of attendance.The list below denotes cost of attendance for single, non state residents; international students may incur additional expenses.

U.S. Business School Cost per Year
Arizona State University W.P. Carey School of Business $100,707*
Carnegie Mellon University Tepper School of Business $101,922
Columbia Business School $122,460
Cornell University SC Johnson Graduate School of Management $107,622
Dartmouth College Tuck School of Business $114,825
Duke University Fuqua School of Business $100,269
Emory University Goizueta School of Business $99,290
Georgetown University McDonough School of Business $98,846
Harvard Business School $112,764
Indiana University Kelley School of Business $80,275
MIT Sloan School of Management $119,995
Northwestern University Kellogg School of Management $117,259
NYU Stern School of Business $123,253
Ohio State University Max M. Fisher College of Business $57,091^
Owen Graduate School of Business of Vanderbilt University $97,621
Rice University Jones Graduate School of Business $75,740
Southern Methodist University Cox School of Business $83,651
Stanford Graduate School of Business $124,389
UC Berkeley Haas School of Business $107,168
UCLA Anderson School of Management $120,236*
University of Chicago Booth School of Business $115,062
University of Georgia Terry College of Business $49,160
University of Michigan Stephen M. Ross School of Business $99,780
University of Minnesota Curtis L. Carlson School of Management $80,379
University of North Carolina Kenan-Flagler Business School $99,928*
University of Rochester Simon Business School $71,410
USC Marshall School of Business $102,964**
UT Austin McCombs School of Business $81,128
UVA Darden School of Business $104,197
UW Foster School of Business $86,738
Washington University in St. Louis Olin Business School $136,470
The Wharton School at the University of Pennsylvania $118,568
Yale School of Management $108,780

*2023-2024 academic year
^2021-2022 tuition only
**based on 2020-2021 first-year tuition

Based on tuition and estimated expenses that each program shares, Washington U. Olin, Stanford GSB, and NYU Stern appear to be the most expensive programs. WashU Olin charges tuition by semester and reports one year of tuition for three semesters at $96,375, which contributes to its high cost. One year of Stanford GSB’s tuition is closer to $77,000 with a single student’s living allowance estimated around $36,000. For a California comparison, Berkeley Haas’s housing estimate is closer to $26,000 plus approximately $3,000 in personal expenses. NYU Stern’s tuition lands at around $82,000 with room and board in New York City being estimated at a cost of $28,000 for the year. Note that fellow NYC school, Columbia Business School, isn’t that far behind NYU Stern in cost.

At the other end of the spectrum, Georgia Terry, Rochester Simon and Indiana Kelley stand out as the most affordable MBA programs. At Georgia Terry, the tuition and fees alone come to around $35,000 for the 2022-2023 academic year for non-residents of Georgia. Georgia residents have a tuition of $13,578. Average off-campus room and board for the year in Athens, Georgia, is reported at approximately $13,000. Rochester Simon also reports their city’s room and board costing around $13,000 for the year. Rochester Simon tuition is an even $50,000. Turning to Indiana Kelley, non-residents need to cover about $53,000 in tuition; Indiana residents, meanwhile, only have $28,425 in tuition. Room and board in Indiana is estimated about $15,000.

The Real Numbers of MBA Admissions: Cost of MBA Programs in the U.S. chart is based on data about the 2022-2023 academic year, unless otherwise noted.