ROI for MBA Programs: Tuition / Starting Graduate Salary – 2023
670%
Best ROI for an MBA Programs
31%
Lowest ROI for an MBA Programs
154%
Average ROI for All MBA Programs
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.

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25 Best ROI for Online MBA Programs
- Fayetteville State University - 669.80%
- Augusta University - 555.56%
- Georgia College & State University - 376.16%
- New Mexico State University - 366.21%
- Stephen F. Austin State University - 365.23%
- University of Central Arkansas - 362.62%
- Tennessee State University - 358.11%
- University of Maine - 353.12%
- Missouri Western State University - 350.17%
- Texas A&M University-Kingsville - 349.17%
- The University of Texas of the Permian Basin - 346.08%
- Texas A&M University-Commerce - 344.22%
- Northeastern Illinois University - 343.12%
- Columbus State University - 342.94%
- Western Illinois University - 339.98%
- Lamar University - 338.00%
- Emporia State University - 326.68%
- Southern Arkansas University - 317.52%
- Troy University - 316.36%
- Auburn University at Montgomery - 308.49%
- Valdosta State University - 299.71%
- Tennessee Technological University - 298.57%
- Midwestern State University - 292.31%
- Prairie View A&M University - 292.16%
- University of West Florida - 287.30%
25 Lowest ROI for Online MBA Programs
- New York University - 33.15%
- University of Miami - 34.64%
- American University - 36.42%
- Rochester Institute of Technology - 37.89%
- The George Washington University - 40.72%
- Syracuse University - 41.78%
- Johns Hopkins University - 43.85%
- Pepperdine University - 44.50%
- Carnegie Mellon University - 44.51%
- University of Southern California - 44.72%
- University of Virginia-Darden - 44.79%
- Northeastern University - 44.82%
- University of Denver - 45.02%
- Georgetown University - 46.16%
- Texas Christian University - 46.75%
- Suffolk University - 50.25%
- The University of North Carolina at Chapel Hill - 50.74%
- Baylor University - 53.41%
- University of Maryland - 53.74%
- College of William and Mary - 62.02%
- University of St. Thomas-Minnesota - 65.01%
- Loyola University Chicago - 66.34%
- St. John's University - 66.59%
- Clarkson University - 67.08%
- Clark University - 67.56%
25 Best Campus ROI for MBA Programs
- Fayetteville State University - 669.80%
- Augusta University - 555.56%
- Humboldt State University - 494.40%
- California State University, Chico - 421.77%
- Indiana University Kokomo - 412.97%
- Georgia College & State University - 376.16%
- Northern Arizona University - 370.64%
- New Mexico State University - 366.21%
- Stephen F. Austin State University - 365.23%
- University of Central Arkansas - 362.62%
- Tennessee State University - 358.11%
- University of Maine - 353.12%
- Missouri Western State University - 350.17%
- The University of Texas of the Permian Basin - 346.08%
- Texas A&M University-Commerce - 344.22%
- Northeastern Illinois University - 343.12%
- Columbus State University - 342.94%
- Western Illinois University - 339.98%
- Lamar University - 338.00%
- Eastern Washington University - 332.20%
- Emporia State University - 326.68%
- Clayton State University - 326.01%
- Missouri University of Science and Technology - 318.85%
- Southern Arkansas University - 317.52%
- Troy University - 316.36%
25 Lowest Campus ROI for MBA Programs
- Tulane University - 30.53%
- Brandeis University - 30.96%
- New York University - 33.15%
- University of Miami - 34.64%
- American University - 36.42%
- University of California, Riverside - 36.52%
- Willamette University - 36.59%
- Columbia University - 36.69%
- Boston University - 37.26%
- Rochester Institute of Technology - 37.89%
- Yale University - 39.81%
- Dartmouth College - 39.96%
- Fordham University - 40.25%
- The George Washington University - 40.72%
- University of San Diego - 41.19%
- Duke University - 41.75%
- Syracuse University - 41.78%
- Vanderbilt University - 41.91%
- Babson College - 42.11%
- Emory University - 42.58%
- Stanford University - 42.73%
- University of California, Los Angeles - 43.61%
- Johns Hopkins University - 43.85%
- Pepperdine University - 44.50%
- Carnegie Mellon University - 44.51%
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 |
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.

ROI for MBA Programs
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.
