100 Best MBA Programs for ROI

ROI for MBA Programs: Tuition / Starting Graduate Salary – 2023

When it comes to choosing an MBA program, it is important to understand the return on investment (ROI) that you will receive. The ROI for MBA programs is the difference between the cost of tuition and the salary you will earn after graduation. To help you determine which MBA program is right for you, it is important to compare tuition and expected salary of various programs.

For example, the top rated MBA program is University of Pennsylvania with an with an average in-state tuition of $74,500, an average startling salary for gradates of $146,303, giving an ROI of 98.19%.

Compare that to Fayetteville State University with an with an average in-state tuition of $6,900, an average startling salary for gradates of $92,432, giving an ROI of 669.80%.

When evaluating ROI for MBA programs, you must also consider their location and length. Programs located in large cities usually come with higher tuition and living costs while shorter programs can get you out into the job market faster. You should also consider the school’s ranking as this can affect your chances of getting accepted into a top notch program.

Overall, when choosing an MBA program it is important to understand the costs involved as well as the potential return on your investment. By comparing tuition and expected salaries of various programs, you can make an informed decision that will help you achieve your career goals.

100 Best ROI for MBA Programs

Rank	University	ROI	In State Tuition	Avg. Starting Salary	State	Online
1	Fayetteville State University	669.80%	$6,900	$92,432	NC	Yes
2	Augusta University	555.56%	$6,660	$74,000	GA	Yes
3	Humboldt State University	494.40%	$9,294	$91,900	CA	No
4	California State University, Chico	421.77%	$8,800	$74,231	CA	No
5	Indiana University Kokomo	412.97%	$11,782	$97,313	IN	No
6	Georgia College & State University	376.16%	$8,640	$65,000	GA	Yes
7	Northern Arizona University	370.64%	$10,480	$77,687	AZ	No
8	New Mexico State University	366.21%	$11,851	$86,800	NM	Yes
9	Stephen F. Austin State University	365.23%	$11,270	$82,323	TX	Yes
10	University of Central Arkansas	362.62%	$10,748	$77,949	AR	Yes
11	Tennessee State University	358.11%	$9,276	$66,436	TN	Yes
12	University of Maine	353.12%	$17,338	$122,449	ME	Yes
13	Missouri Western State University	350.17%	$13,422	$94,000	MO	Yes
14	Texas A&M University-Kingsville	349.17%	$12,000	$83,800	TX	Yes
15	The University of Texas of the Permian Basin	346.08%	$11,736	$81,231	TX	Yes
16	Texas A&M University-Commerce	344.22%	$12,985	$89,393	TX	Yes
17	Northeastern Illinois University	343.12%	$13,603	$93,350	IL	Yes
18	Columbus State University	342.94%	$8,748	$60,000	GA	Yes
19	Western Illinois University	339.98%	$15,148	$103,000	IL	Yes
20	Lamar University	338.00%	$8,432	$57,000	TX	Yes
21	Eastern Washington University	332.20%	$11,439	$76,000	WA	No
22	Emporia State University	326.68%	$11,326	$74,000	KS	Yes
22	Clayton State University	326.01%	$13,266	$86,497	GA	No
24	Missouri University of Science and Technology	318.85%	$17,251	$110,011	MO	No
25	Southern Arkansas University	317.52%	$11,070	$70,300	AR	Yes
26	Troy University	316.36%	$13,175	$83,360	AL	Yes
27	University of Wisconsin-Parkside	315.88%	$12,663	$80,000	WI	No
28	Auburn University at Montgomery	308.49%	$13,907	$85,803	AL	Yes
29	Valdosta State University	299.71%	$10,677	$64,000	GA	Yes
30	Tennessee Technological University	298.57%	$13,401	$80,024	TN	Yes
31	San Francisco State University	294.10%	$16,098	$94,687	CA	No
32	Midwestern State University	292.31%	$13,709	$80,146	TX	Yes
32	Prairie View A&M University	292.16%	$15,702	$91,750	TX	Yes
34	Bowling Green State University	287.80%	$20,500	$118,000	OH	No
34	University of West Florida	287.30%	$12,461	$71,600	FL	Yes
36	The University of North Dakota	285.47%	$18,391	$105,000	ND	Yes
37	Oklahoma State University	284.62%	$14,405	$82,000	OK	No
38	The University of North Carolina at Pembroke	283.25%	$14,563	$82,500	NC	Yes
39	Arkansas Tech University	281.36%	$11,400	$64,150	AR	Yes
39	The University of Texas Rio Grande Valley	281.28%	$17,776	$100,000	TX	Yes
40	University of Alaska Anchorage	281.19%	$14,670	$82,500	AK	No
42	Youngstown State University	279.63%	$13,500	$75,500	OH	Yes
43	University of North Alabama	276.10%	$13,600	$75,100	AL	Yes
44	Southeastern Louisiana University	273.62%	$13,152	$71,973	LA	No
45	Salisbury University	272.44%	$15,600	$85,000	MD	Yes
46	Black Hills State University	270.35%	$12,946	$70,000	SD	Yes
47	Jacksonville State University	269.62%	$13,200	$71,179	AL	Yes
48	Sonoma State University	267.87%	$15,866	$85,000	CA	No
49	Florida State University	266.41%	$18,768	$100,000	FL	Yes
50	Northern Kentucky University	265.82%	$20,691	$110,000	KY	Yes
50	Minnesota State University, Mankato	265.20%	$17,219	$91,331	MN	Yes
52	Arkansas State University	263.96%	$13,563	$71,603	AR	Yes
52	University of Nebraska at Omaha	263.85%	$14,897	$78,611	NE	Yes
54	University of Louisiana at Monroe	261.96%	$18,500	$96,925	LA	Yes
54	Colorado Mesa University	261.55%	$19,155	$100,200	CO	Yes
56	Missouri State University	260.11%	$12,488	$64,964	MO	Yes
57	University of Montana	256.37%	$13,718	$70,339	MT	Yes
58	Middle Tennessee State University	253.87%	$12,748	$64,726	TN	Yes
58	University of South Florida	253.73%	$14,955	$75,892	FL	Yes
60	Eastern Illinois University	251.16%	$14,998	$75,338	IL	Yes
61	McNeese State University	249.94%	$17,004	$85,000	LA	Yes
61	Oklahoma State University	249.03%	$16,464	$82,000	OK	Yes
63	Pittsburg State University	246.43%	$12,732	$62,750	KS	Yes
64	Radford University	242.46%	$18,612	$90,255	VA	Yes
65	University of Wisconsin-Eau Claire	239.01%	$16,736	$80,000	WI	Yes
66	Morehead State University	238.23%	$17,750	$84,571	KY	Yes
67	University of Southern Indiana	237.44%	$11,783	$55,955	IN	Yes
68	Florida Gulf Coast University	236.20%	$13,442	$63,500	FL	Yes
69	University of West Georgia	234.53%	$12,365	$58,000	GA	Yes
70	The University of Rhode Island	233.82%	$20,666	$96,641	RI	No
71	Indiana University-Purdue University Fort Wayne	231.62%	$15,534	$71,960	IN	Yes
71	Indiana University South Bend	231.46%	$16,106	$74,558	IN	Yes
73	North Dakota State University	229.68%	$18,692	$85,865	ND	No
73	Kent State University	229.11%	$17,790	$81,516	OH	No
75	University of South Dakota	227.82%	$14,747	$67,193	SD	Yes
76	University of New Orleans	226.55%	$13,658	$61,885	LA	Yes
76	Southeastern Oklahoma State University	226.38%	$11,880	$53,789	OK	Yes
78	Georgia Southern University	225.98%	$17,530	$79,230	GA	Yes
78	Montclair State University	225.84%	$21,033	$95,000	NJ	Yes
79	Colorado State University-Pueblo	225.29%	$19,963	$89,950	CO	No
81	Indiana University Northwest	224.99%	$15,286	$68,784	IN	Yes
81	The University of Texas at Arlington	224.25%	$20,144	$90,346	TX	No
82	University of South Alabama	224.01%	$13,950	$62,500	AL	No
84	Kansas State University	223.43%	$19,220	$85,887	KS	No
85	Southeast Missouri State University	222.66%	$11,228	$50,000	MO	Yes
85	Texas Southern University	222.53%	$14,260	$63,465	TX	No
86	Western Kentucky University	222.10%	$18,810	$83,553	KY	Yes
88	Louisiana Tech University	221.14%	$16,518	$73,056	LA	Yes
89	University of Houston-Victoria	219.85%	$17,133	$75,335	TX	Yes
89	Longwood University	219.07%	$20,988	$91,957	VA	Yes
91	Indiana State University	218.54%	$18,875	$82,500	IN	No
91	University of Alaska Fairbanks	218.32%	$13,980	$61,042	AK	Yes
93	Shippensburg University	216.73%	$19,860	$86,086	PA	Yes
94	The University of Mississippi	215.59%	$24,584	$106,000	MS	Yes
94	University of Houston-Clear Lake	215.14%	$20,852	$89,723	TX	Yes
96	State University of New York at Oswego	213.84%	$24,270	$103,800	NY	Yes
97	Western Carolina University	212.00%	$16,273	$68,996	NC	Yes
97	Kutztown University	211.25%	$18,343	$77,500	PA	Yes
99	Eastern Kentucky University	210.92%	$19,800	$83,524	KY	Yes
99	William Paterson University	210.90%	$22,380	$94,400	NJ	Yes
101	Francis Marion University	209.62%	$16,407	$68,784	SC	Yes
101	Illinois State University	209.54%	$16,951	$71,039	IL	No
103	Henderson State University	208.96%	$12,562	$52,500	AR	Yes
103	California State University, Los Angeles	208.81%	$25,068	$104,690	CA	No
105	Frostburg State University	203.70%	$16,200	$66,000	MD	Yes
106	University of North Carolina at Charlotte	201.88%	$20,557	$83,000	NC	Yes
106	University of Mary Washington	201.42%	$22,104	$89,042	VA	No
108	California Polytechnic State University, San Luis Obispo	199.02%	$26,505	$105,498	CA	No
109	University of Nebraska-Lincoln	198.69%	$19,200	$76,298	NE	Yes
110	University of Florida	197.37%	$26,473	$104,500	FL	Yes
111	Southern Illinois University Carbondale	196.21%	$21,660	$85,000	IL	Yes
112	Cleveland State University	195.93%	$19,221	$75,320	OH	No
112	The University of New Mexico	195.89%	$21,838	$85,556	NM	Yes
113	Abilene Christian University	195.77%	$26,352	$103,177	TX	Yes
115	Texas A&M International University	193.90%	$13,409	$52,000	TX	No
115	University of Toledo	193.67%	$21,166	$81,983	OH	Yes
116	SUNY University at Albany	193.15%	$19,032	$73,521	NY	No
118	University of Wisconsin Oshkosh	191.42%	$27,427	$105,000	WI	Yes
119	California State University, Sacramento	190.97%	$25,091	$95,833	CA	Yes
120	Jackson State University	188.42%	$14,595	$55,000	MS	Yes
120	University of Wisconsin-Whitewater	188.40%	$19,440	$73,250	WI	Yes
122	University of Idaho	187.00%	$27,540	$103,000	ID	No
123	Coastal Carolina University	186.92%	$18,190	$68,000	SC	Yes
124	Texas State University	185.80%	$21,497	$79,884	TX	No
124	Old Dominion University	185.00%	$27,220	$100,715	VA	Yes
126	Ohio University	184.82%	$21,432	$79,222	OH	Yes
126	Indiana University Southeast	184.64%	$16,302	$60,200	IN	Yes
128	Kennesaw State University	183.72%	$17,690	$65,000	GA	Yes
129	Florida Southern College	182.68%	$18,612	$68,000	FL	Yes
130	Union University	181.18%	$22,932	$83,098	TN	Yes
130	South Carolina State University	181.16%	$19,872	$72,000	SC	Yes
132	North Carolina Central University	180.57%	$22,844	$82,500	NC	No
132	University of Arkansas at Little Rock	180.00%	$16,681	$60,052	AR	Yes
134	University of Wisconsin-River Falls	179.75%	$27,816	$100,000	WI	No
134	The Citadel	179.42%	$21,830	$78,333	SC	Yes
135	University of Nevada, Reno	179.03%	$19,000	$68,030	NV	Yes
137	Morgan State University	178.71%	$14,832	$53,014	MD	No
137	University of North Florida	178.27%	$19,072	$68,000	FL	No
138	East Carolina University	178.08%	$18,072	$64,364	NC	Yes
140	University of Massachusetts Dartmouth	177.51%	$16,965	$60,229	MA	Yes
141	California State University, East Bay	176.69%	$32,443	$114,650	CA	No
142	University of Houston-Downtown	175.47%	$18,147	$63,686	TX	Yes
143	San Jose State University	174.86%	$31,532	$110,275	CA	No
144	The University of Michigan-Flint	173.42%	$25,948	$90,000	MI	Yes
145	California State Polytechnic University Pomona	172.51%	$26,924	$92,891	CA	No
146	University of Southern Mississippi	171.55%	$12,327	$42,294	MS	Yes
146	La Salle University	171.45%	$25,060	$85,933	PA	No
148	Central Connecticut State University	170.94%	$25,696	$87,851	CT	No
149	Drury University	169.40%	$23,760	$80,497	MO	Yes
149	University of Massachusetts Boston	169.03%	$27,375	$92,544	MA	Yes
151	The University of Alabama	168.07%	$28,560	$96,000	AL	Yes
152	Northern Illinois University	167.75%	$25,951	$87,064	IL	No
153	University of Alabama	166.90%	$28,759	$96,000	AL	No
153	Boise State University	166.83%	$20,380	$68,000	ID	Yes
154	Auburn University	166.54%	$25,761	$85,803	AL	No
155	Alabama A&M University	166.48%	$18,020	$60,000	AL	No
157	University of Alabama in Huntsville	164.10%	$20,664	$67,820	AL	Yes
158	Wayne State University	162.11%	$31,579	$102,385	MI	Yes
159	The University of Georgia	161.18%	$32,406	$104,464	GA	Yes
159	Marshall University	161.14%	$18,928	$61,000	WV	Yes
161	California State University, Fresno	160.40%	$25,800	$82,766	CA	No
162	Western Washington University	159.94%	$20,320	$65,000	WA	No
162	Appalachian State University	159.38%	$17,411	$55,500	NC	No
163	University of Wisconsin-Stevens Point	159.21%	$26,214	$83,473	WI	Yes
164	California State University, Stanislaus	159.07%	$24,674	$78,500	CA	Yes
166	State University of New York at New Paltz	158.70%	$24,108	$76,519	NY	No
166	Washburn University	158.57%	$29,640	$94,000	KS	No
168	University of South Florida St. Petersburg	157.50%	$20,000	$63,000	FL	Yes
169	University of North Texas	156.89%	$23,013	$72,212	TX	Yes
169	Sam Houston State University	156.24%	$18,699	$58,429	TX	Yes
171	Florida Atlantic University	155.20%	$25,040	$77,725	FL	Yes
172	California State University, Northridge	154.35%	$34,194	$105,554	CA	No
173	Texas Tech University	153.94%	$27,416	$84,406	TX	Yes
174	Savannah State University	152.46%	$20,794	$63,403	GA	No
175	Eastern Michigan University	151.28%	$30,358	$91,853	MI	Yes
176	Ramapo College of New Jersey	150.84%	$24,694	$74,497	NJ	Yes
176	James Madison University	150.05%	$29,230	$87,718	VA	Yes
178	University of Alabama at Birmingham	149.57%	$16,200	$48,462	AL	Yes
179	Xavier University	148.17%	$33,864	$100,350	OH	Yes
180	Southern Utah University	147.95%	$21,586	$63,875	UT	Yes
180	The Pennsylvania State University at Erie The Behrend College	147.91%	$26,220	$77,566	PA	Yes
182	Central Michigan University	146.74%	$23,832	$69,942	MI	Yes
183	University of Tennessee at Martin	145.24%	$17,700	$51,415	TN	Yes
184	University of Connecticut	143.40%	$35,018	$100,429	CT	Yes
185	Washington State University	142.76%	$35,024	$100,000	WA	Yes
186	East Tennessee State University	141.64%	$22,896	$64,862	TN	Yes
187	University of South Carolina	140.63%	$32,000	$90,000	SC	Yes
187	St. Mary's University	140.06%	$37,960	$106,330	TX	No
188	Samford University	140.04%	$34,632	$97,000	AL	Yes
190	Clarion University of Pennsylvania	139.92%	$20,298	$56,800	PA	Yes
190	Texas Wesleyan University	139.77%	$31,480	$88,000	TX	Yes
191	The University of Tampa	139.39%	$26,744	$74,558	FL	No
192	Valparaiso University	139.25%	$30,520	$85,000	IN	No
193	Bloomsburg University of Pennsylvania	139.20%	$22,899	$63,750	PA	Yes
195	Widener University	138.41%	$35,344	$97,837	PA	Yes
196	Western Connecticut State University	137.93%	$24,360	$67,200	CT	No
196	Ball State University	137.85%	$24,120	$66,500	IN	Yes
198	The University of Texas at Dallas	136.72%	$34,742	$95,000	TX	Yes
198	University of Detroit Mercy	136.70%	$26,697	$72,991	MI	Yes
200	Oklahoma City University	135.82%	$27,175	$73,817	OK	Yes
200	University of Tennessee at Chattanooga	135.56%	$20,540	$55,689	TN	Yes
201	University of Dayton	135.30%	$32,100	$86,863	OH	Yes
202	Brigham Young University	135.28%	$27,720	$75,000	UT	No
204	The University of Texas at El Paso	134.84%	$24,158	$65,147	TX	No
205	Miami University	133.77%	$36,650	$98,052	OH	No
205	Utah Valley University	133.63%	$23,760	$63,500	UT	No
206	California State University, San Bernardino	133.33%	$30,000	$80,000	CA	Yes
208	Binghamton University	132.65%	$29,400	$78,000	NY	No
209	University of Kansas	131.52%	$33,297	$87,584	KS	No
210	Howard University	130.56%	$35,016	$91,434	DC	No
211	Stockton University	129.60%	$29,862	$77,400	NJ	Yes
212	University of Northern Iowa	128.62%	$30,435	$78,292	IA	No
212	California State University, Fullerton	128.08%	$33,000	$84,536	CA	Yes
213	Bradley University	128.08%	$34,745	$89,000	IL	Yes
215	State University of New York College at Brockport	126.57%	$23,544	$59,600	NY	Yes
216	University of Missouri	125.86%	$30,987	$78,000	MO	No
216	Utah State University	125.37%	$31,386	$78,700	UT	Yes
218	St. Bonaventure University	124.78%	$33,558	$83,750	NY	No
218	Minnesota State University Moorhead	124.50%	$22,089	$55,000	MN	Yes
220	St. Cloud State University	123.28%	$30,013	$74,000	MN	No
221	University of Minnesota Duluth	122.26%	$31,008	$75,818	MN	No
222	Nova Southeastern University	120.30%	$37,722	$90,756	FL	Yes
222	Bryant University	120.07%	$46,220	$110,995	RI	No
224	The University of Texas at San Antonio	118.74%	$32,984	$78,332	TX	No
224	University of Wisconsin-Milwaukee	118.68%	$32,730	$77,687	WI	Yes
225	Elon University	118.26%	$37,921	$89,694	NC	No
226	Iowa State University	118.08%	$27,524	$65,000	IA	Yes
228	Robert Morris University	117.81%	$31,830	$75,000	PA	Yes
228	University of Dallas	117.61%	$37,810	$88,938	TX	Yes
229	Lawrence Technological University	117.52%	$46,800	$110,000	MI	No
230	Saint Joseph's University	117.09%	$48,040	$112,500	PA	Yes
232	Rockhurst University	116.19%	$39,780	$92,444	MO	No
233	Virginia Polytechnic Institute and State University	115.41%	$45,050	$103,987	VA	Yes
233	Michigan Technological University	115.31%	$34,690	$80,000	MI	No
235	University of Colorado Colorado Springs	114.59%	$27,490	$63,000	CO	Yes
235	Colorado State University	114.41%	$40,384	$92,408	CO	Yes
237	University of New Hampshire	113.55%	$41,160	$93,472	NH	Yes
237	Louisiana State University	113.45%	$36,800	$83,500	LA	No
239	Clemson University	112.65%	$39,604	$89,227	SC	No
239	University of Tennessee at Knoxville	112.18%	$40,114	$90,000	TN	No
240	The University of North Carolina at Greensboro	112.11%	$26,217	$58,783	NC	No
242	University of Scranton	111.81%	$34,940	$78,133	PA	Yes
242	University of Louisville	111.74%	$32,000	$71,512	KY	No
243	University of Oklahoma	111.12%	$34,000	$75,561	OK	No
244	University of Oklahoma	111.12%	$34,000	$75,561	OK	No
246	Saginaw Valley State University	110.78%	$25,500	$56,500	MI	Yes
246	Rider University	110.59%	$37,320	$82,544	NJ	Yes
248	University of Delaware	109.59%	$38,030	$83,357	DE	Yes
249	Oakland University	108.70%	$36,984	$80,400	MI	No
249	John Carroll University	108.34%	$31,350	$67,931	OH	No

Review School Rankings

As you evaluate the return on investment for MBA programs, also look at school rankings. Top business schools such as Harvard Business School, Stanford Graduate School of Business, and University of Pennsylvania’s Wharton School produce graduates with higher salaries and ROI.

Each school has its own unique offerings and benefits that can help you make a decision on which school to attend. It is important to research each school’s curriculum and offerings to ensure that it fits with your career aspirations. Additionally, it is important to look at the average starting salary that graduates receive after completing the program. This can help you determine how much you will be able to earn after graduation.

When making a decision about which MBA program is best for you, it is important to evaluate the cost and ROI for each program. Make sure that you compare each school’s tuition fees with the average salary for MBA graduates from that particular school. This will help you determine if you can make a good return on your investment.

Look at Program Location and Length

Location and length are two important factors to consider when calculating the return on investment (ROI) of a particular MBA program. Where the school is located can have a large impact on the cost of living, which in turn affects the overall ROI. The length of the program also needs to be taken into account; programs that are shorter in duration tend to have higher ROI because the cost of tuition is spread out over fewer months.

When evaluating potential MBA programs, it is important to consider the cost of living in the area, as well as the length of the program and how this affects the tuition costs. For example, if you are looking at a two-year MBA program, you will need to factor in additional expenses such as housing and transportation for two years instead of just one year. The cost of living can vary drastically from city to city, so researching different locations is essential. Additionally, if you choose a program that is shorter in duration, you may be able to complete your degree faster and save on tuition costs.

It is also important to remember that location and length can have an impact on the quality of education you receive from a particular program. Schools located in major cities may have more resources available, such as access to top-tier employers or networking opportunities, which can lead to higher salaries post-graduation.

Shorter programs may not provide as much depth of knowledge as longer programs and may not offer as many valuable learning experiences. Ultimately, when evaluating potential MBA programs, it is important to consider both location and length in order to ensure that you receive the best return on your investment.

Review School Rankings

As you evaluate the return on investment for MBA programs, also look at school rankings. Top business schools such as Harvard Business School, Stanford Graduate School of Business, and University of Pennsylvania’s Wharton School produce graduates with higher salaries and ROI.

Each school has its own unique offerings and benefits that can help you make a decision on which school to attend. It is important to research each school’s curriculum and offerings to ensure that it fits with your career aspirations. Additionally, it is important to look at the average starting salary that graduates receive after completing the program. This can help you determine how much you will be able to earn after graduation.

When making a decision about which MBA program is best for you, it is important to evaluate the cost and ROI for each program. Make sure that you compare each school’s tuition fees with the average salary for MBA graduates from that particular school. This will help you determine if you can make a good return on your investment.