7th Annual Best Ranked MBA Programs in Arizona by MBAGuide

Best Mba Programs

$40,003

Average Tuition

$97,127

Average Graduate Salary

549

Average GMAT Score

661

Average Student Enrollment

  • Starting salaries for new MBA graduates in Arizona are reported to be between $68,100 and $124,664 with an average of $81,243.
  • Annual campus tuition for MBA programs in Arizona ranges from $11,004 to $70,570, and averages $43,476
  • Annual online tuition in for Arizona MBAs ranges between $11,004 to $70,570, and averages $38,875
  • A GMAT score between 400 and 684 with an average of 561 is needed for acceptance into an MBA program in Arizona.
  • There are 5 campus and 7 online MBA Arizona Programs.
  • Average student enrollment varies between 346 and 1,257 with an overall average of 661.
  • Student / Faculty Ratio for MBA programs in Arizona varies between 14:1 and 34:1 with an average of 25:1 students.
  • 10 MBA programs in Arizona are ranked by the following institutions US News: 3, MBAGuide: 4, Forbes: 2, BW: 2, FT: 1 and Economist: 1.

Best Ranked MBA Programs in Arizona in 7th Annual Rankings

MBAGuide.org ranks MBA programs by state using a comprehensive methodology that combines quantitative data and expert evaluation. Our ranking methodology weighs multiple factors, with 80% of the overall score based on objective criteria and 20% on editorial staff ratings and school reputation. This multi-faceted approach aims to provide a balanced assessment of each program’s quality, affordability, and value.

Rank University Graduate ROIIn State TuitionAvg. Starting SalaryStateOnline
1 Arizona State University 101.59% $61,354 $124,664AZYes
2 The University of Arizona 95.42% $56,250 $107,345AZYes
3 Northern Arizona University 309.43% $11,004 $68,100AZYes
4 Grand Canyon University 248.31% $17,800 $88,400AZYes

Best ROI for MBA Graduates in Arizona

Choosing an MBA program requires more than a glance at the school’s reputation or curriculum. The return on investment (ROI) should take center stage in your evaluation. This measurement reveals the potential value derived from your tuition investment, putting key factors such as starting salary and career progression under the microscope.

By scrutinizing the graduate ROI for MBA programs, you’re not just making a decision—you’re making an informed one. This approach will ensure the selection of an MBA program that provides the most bang for your buck. Checking the ROI might not be an afterthought; it could be the game-changer in your MBA journey.

ROI of Campus MBA Programs in Arizona

The average return on investment (ROI) for campus MBA programs in Arizona is 170%.The lowest ROI is 98%, offered by The University of Arizona.The highest ROI is an impressive 309%, available through the MBA program at Northern Arizona University.

ROI of Online MBA Programs in Arizona

For online MBA programs in Arizona, the ROI ranges from 98% to 309%.The lowest online MBA ROI of 98% is from the program at The University of Arizona.The highest online MBA ROI of 309% is offered by Northern Arizona University.On average, online MBA programs in Arizona have an ROI of 170%.

ROI for Campus MBA Programs

ROI for Online MBA Programs

10 MBA Programs with the Highest ROI in Arizona

MBA programs in Arizona with the highest return on investment (ROI) are excellent choices for students looking to maximize the value of their education. High ROI is typically achieved through a combination of lower tuition costs and higher starting salaries for graduates.

  1. Northern Arizona University - 309.43%
  2. Arizona State University - 103.21%
  3. The University of Arizona - 97.97%

10 MBA Programs with the Lowest ROI in Arizona

These MBA programs in Arizona have the lowest return on investment (ROI), which may be a critical factor for students considering the financial implications of their education. Programs with lower ROI often have higher tuition costs and lower starting salaries for graduates.

  1. The University of Arizona - 97.97%
  2. Arizona State University - 103.21%
  3. Northern Arizona University - 309.43%

Best MBA Graduate Salaries for Arizona MBA Programs

While the average starting salary for graduates of an in-person MBA program in Arizona is about $97,127, the lowest average MBA starting salary is $68,100 from Northern Arizona University, and the highest average MBA starting salary is $124,664 from Arizona State University.

The average starting salary for graduates of an Online MBA program from an institution in Arizona is between $68,100 from Northern Arizona University and $124,664 from Arizona State University. The average starting MBA salary for graduates of online MBA programs within Arizona is $97,127.

Average Graduate Salaries for Campus MBA Programs

Average Graduate Salaries for Online MBA Programs

10 Highest Salaries for MBA Graduates in Arizona

  1. Arizona State University - $124,664.00
  2. The University of Arizona - $107,345.00
  3. Grand Canyon University - $88,400.00
  4. Northern Arizona University - $68,100.00

10 Lowest Salaries for MBA Graduates in Arizona

  1. Northern Arizona University - $68,100.00
  2. Grand Canyon University - $88,400.00
  3. The University of Arizona - $107,345.00
  4. Arizona State University - $124,664.00

Most Affordable MBA Programs in Arizona


If you plan on attending an MBA program, it’s best to start thinking about fiscal responsibility. A prospective B-Student needs to weigh their tuition options. An AACSB-accredited MBA program can pave the way for a great starting salary or career advancement. An online MBA program can provide the flexibility of completing a program while being employed in your respective career.

While the average in-person MBA program in Arizona will cost about $40,003, the least expensive MBA program is $11,004 from Northern Arizona University, and the most expensive is $70,570 from Thunderbird School of Global Management.

An Online MBA program from an institution in Arizona will cost you between $11,004 from Northern Arizona University and $70,570 from Thunderbird School of Global Management. The average cost of online MBA programs within Arizona is $40,003.

Average Tuition for Campus MBA Programs

Average Tuition for Online MBA Programs

10 Most Affordable MBAs in Arizona

  1. Northern Arizona University - $11,004.00
  2. Grand Canyon University - $17,800.00
  3. Northcentral University - $23,040.00
  4. The University of Arizona - $56,250.00
  5. Arizona State University - $61,354.00
  6. Thunderbird School of Global Management - $70,570.00

10 Most Expensive MBAs in Arizona

  1. Thunderbird School of Global Management - $70,570.00
  2. Arizona State University - $61,354.00
  3. The University of Arizona - $56,250.00
  4. Northcentral University - $23,040.00
  5. Grand Canyon University - $17,800.00
  6. Northern Arizona University - $11,004.00

GMAT Requirements for Arizona MBA Programs

The Graduate Management Admission Test (GMAT) is a standardized examination used by MBA schools to assess their applicant pool. The test is strategically designed to measure an applicant’s analytical, verbal, writing and mathematical skills. The GMAT is used as a predictor of success in MBA programs and tests one’s ability to successfully handle the advanced quantitative and qualitative study of business and management.

While the average GMAT score needed for in-person MBA program in Arizona is 549, the lowest average GMAT score is for an MBA program is 400 from University of Phoenix – US, and the highest GMAT score needed is 684 from Arizona State University.

The average GMAT score needed for an online MBA program from an institution in Arizona is between 400 from University of Phoenix – US to 684 from Arizona State University. The average GMAT scored for online MBA programs within Arizona is 549.

Average GMAT Score for In-Person MBA Programs

Average GMAT Score for Online MBA Programs

10 Arizona MBA Programs with the Highest Average GMAT Scores

These MBA programs in Arizona boast the highest average GMAT scores, reflecting their competitive admissions standards and the academic caliber of their students.

  1. Arizona State University - 684
  2. The University of Arizona - 673
  3. Thunderbird School of Global Management - 645
  4. Northern Arizona University - 544
  5. Grand Canyon University - 500
  6. University of Phoenix - US - 400
  7. Northcentral University - 400

10 Arizona MBA Programs with the Lowest Average GMAT Scores

These MBA programs in Arizona have the lowest average GMAT scores, making them more accessible to a broader range of applicants, and holding the highest standards of AACSB accreditation.

  1. University of Phoenix - US - 400
  2. Northcentral University - 400
  3. Grand Canyon University - 500
  4. Northern Arizona University - 544
  5. Thunderbird School of Global Management - 645
  6. The University of Arizona - 673
  7. Arizona State University - 684

Most Popular MBA Programs in Arizona

The importance of networking, whether it’s by way of campus job fairs, student organization members, or faculty mentorship, should not be understated. The average MBA enrollment size has a direct impact on your studies, your job prospects, and your ability to define your career goals.

Every B-School has a strategy behind their enrollment sizes. If a prospective B-Student is looking for networking opportunities, wants to attend job fairs, and plans on joining student organizations, B-School enrollment size plays an important role in the decision making process. For the B-Student interested in the smaller cohort-style classroom experience and thrive with face-to-face collaboration with their professors, a manageable enrollment

Every B-School has a strategy behind their enrollment sizes. If a prospective B-Student is looking for networking opportunities, wants to attend job fairs, and plans on joining student organizations, B-School enrollment size plays an important role in the decision making process. For the B-Student interested in the smaller cohort-style classroom experience and thrive with face-to-face collaboration with their professors, a manageable enrollment size is the preferred option.

For Arizona state’s MBA programs, the range for full-time enrollment is between 346 and 1,257. For part-time enrollment, the range is between : 109.00 and : 752.00.

Average Enrollment for Campus MBA Programs

Average Enrollment for Online MBA Programs

10 Most Popular MBA Programs

  1. Arizona State University - 1,257
  2. The University of Arizona - 379
  3. Thunderbird School of Global Management - 346

10 MBA Programs with the Smallest Enrollment

  1. Thunderbird School of Global Management - 346
  2. The University of Arizona - 379
  3. Arizona State University - 1,257

20 Most Popular MBA Concentrations in Arizona

Highly competitive B-Schools recruit part-time and full-time professors that are both academic and industry influencers. They are the subject matter experts in their respective concentrations. To meet the diverse needs of Arizona businesses, MBA programs here have risen to the challenge by offering you an array of more than 38 MBA concentrations including:

  • Accounting: 9
  • Marketing: 9
  • Management: 9
  • Information Systems: 9
  • Finance: 8
  • General Business: 8
  • International Business: 8
  • Entrepreneurship: 7
  • Economics: 6
  • Supply Chain: 6
  • Healthcare Administration: 5
  • Operations Management: 4
  • Leadership: 4
  • Public Administration: 3
  • Ethics: 3
  • Data Analytics: 3
  • Health Care Management: 3
  • Human Resources: 3
  • Consulting: 3
  • Statistics: 3

20 Arizona MBA Programs Offering the Most Concentrations

Here are the top schools offering the widest variety of concentrations to choose from:

10 High-Growth Industries for Arizona MBA Graduates

The overall outlook for MBA graduates in Arizona remains positive, with a focus on industries such as consulting, finance, technology, consumer packaged goods, healthcare, and entertainment. While some sectors, like technology, have experienced recent layoffs, the demand for MBA graduates with strong analytical, strategic, and leadership skills remains high across various industries.

Arizona’s very diverse economy includes mega hubs like Silicon Valley and Los Angeles, offers a wide range of opportunities for MBA graduates to build successful careers with competitive salaries and room for growth.

IndustryRepresentative CompaniesOutlook
ConsultingMcKinsey & Company, Boston Consulting Group (BCG), Bain & Company, Deloitte ConsultingConsistently high demand for MBA graduates, with starting salaries around $135,000 to $147,000 and potential for rapid career advancement
FinanceGoldman Sachs, JPMorgan Chase, BlackRock, VisaPopular choice for MBA graduates, with roles like investment banking and corporate finance offering six-figure salaries (median around $139,000) and opportunities for growth
TechnologyApple, Google, Facebook, Amazon, MicrosoftStrong opportunities, particularly in Silicon Valley, with median base salaries ranging from $128,000 to $164,000; despite recent layoffs, many tech occupations remain in high demand
Consumer Packaged GoodsProcter & Gamble, PepsiCo, Unilever, NestléTraditional pipeline for MBA graduates, with average salaries around $119,000 to $141,000; companies value the strategic and analytical skills of MBAs
HealthcareUnitedHealth Group, Johnson & Johnson, Pfizer, MedtronicGrowing demand for MBA graduates in healthcare, pharmaceuticals, and biotech, with base salaries between $116,000 and $198,000; focus on innovation, affordability, and health equity
EnergyExxonMobil, Chevron, Shell, BPCompetitive salaries for MBA graduates, with average base pay around $120,000 to $130,000; industry undergoing transition towards cleaner energy solutions
RetailAmazon, Walmart, Target, CostcoEvolving landscape with focus on e-commerce and supply chain management; MBA graduates can expect salaries around $115,000 to $130,000
Real EstateCBRE Group, Jones Lang LaSalle, Cushman & WakefieldSteady demand for MBA graduates with skills in finance, investment, and property management; average salaries range from $100,000 to $120,000
Media & EntertainmentDisney, Netflix, Comcast, Warner Bros. DiscoveryCompetitive industry with opportunities for MBA graduates in strategy, finance, and operations; salaries typically range from $120,000 to $140,000
AutomotiveTesla, General Motors, Ford, ToyotaTransforming industry with focus on electric and autonomous vehicles; MBA graduates can expect salaries around $110,000 to $130,000 and opportunities to work on cutting-edge projects

The technology industry, while still offering competitive salaries, has seen a decline in interest among MBA graduates in recent years, possibly due to recent layoffs and a shift away from the Bay Area.

Compare Arizona MBA Programs to Online and National Options

How Arizona’s Top MBA Programs Compare to Leading Online and National Offerings

 AveragesArizona MBA ProgramsOnline MBA ProgramsU.S. MBA Programs
Average MBA Tuition$40,003$38,875$43,476
Average GMAT Scores549557561
Average Full-Time MBA Faculty1466967
Average MBA Student Faculty Ratio25:1: 17:116:1
Average # of MBA Faculty with Doctorate81.30%83.35%83.95%
Average Full-Time MBA Enrollment661298286
Average Part-Time MBA Enrollment399387351
Average % of MBA Students from U.S.62%76%75%

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