The Most Expensive States to Earn an MBA

What Are the Most Expensive States to Earn an MBA?

In the pursuit of higher education, the cost is often a significant factor for many students. When it comes to earning an MBA, this is no exception.

The cost of an MBA program can vary greatly depending on the location, with some states in the U.S. proving to be significantly more expensive than others.

List of Most Expensive States to Earn an MBA

The calculation for the most expensive states to earn an MBA is based on the average tuition cost of accredited MBA programs in each state. This is done by adding up the total tuition costs for each university in a state that offers an accredited MBA program and then dividing by the number of such schools in that state.

Consider an Online MBA

1. New Hampshire - $103,312.00
2. District of Columbia - $83,309.20
3. Massachusetts - $74,394.61
4. Oregon - $61,583.40
5. New York - $61,320.55
6. California - $59,093.32
7. Pennsylvania - $54,581.04
8. Connecticut - $51,232.63
9. New Jersey - $51,099.85
10. Maryland - $50,581.75
11. Illinois - $48,709.61
12. Washington - $48,319.30
13. Ohio - $47,832.93
14. Virginia - $45,875.88
15. Michigan - $45,734.47
16. Minnesota - $44,597.25
17. Tennessee - $44,060.20
18. Arizona - $40,003.00
19. Colorado - $38,994.67
20. Texas - $37,995.06
21. North Carolina - $37,844.09
22. Florida - $37,710.83
23. Utah - $36,682.40
24. Wisconsin - $33,557.00
25. Louisiana - $33,469.92
26. Indiana - $32,023.47
27. Missouri - $31,909.30
28. Vermont - $31,878.00
29. Georgia - $31,429.69
30. Rhode Island - $29,921.50
31. Delaware - $27,789.50
32. Oklahoma - $27,565.86
33. Wyoming - $26,460.00
34. Iowa - $25,778.67
35. Kentucky - $25,407.00
36. South Carolina - $25,243.90
37. Montana - $24,912.50
38. West Virginia - $21,721.50
39. Alaska - $21,466.50
40. Nebraska - $21,340.00
41. Hawaii - $21,288.00
42. Mississippi - $21,282.20
43. North Dakota - $21,022.00
44. Alabama - $21,004.83
45. Nevada - $20,392.00
46. Maine - $19,935.00
47. Kansas - $19,892.80
48. New Mexico - $18,519.50
49. Arkansas - $17,072.71
50. Idaho - $15,078.67
51. South Dakota - $14,503.00

1. Massachusetts: Topping the list, Massachusetts charges an average of $58,616.59 for an MBA program. The state, home to elite institutions like Harvard Business School and MIT Sloan, offers top-notch education at a premium.
2. District of Columbia: Not far behind, the District of Columbia comes in with an average MBA cost of $58,332.59. The district, hosting esteemed schools such as Georgetown University’s McDonough School of Business, contributes to the high expense.
3. New Hampshire: Despite its size, New Hampshire’s average MBA cost stands at $44,936.89. Quality programs, like those at Dartmouth College’s Tuck School of Business, drive up the cost.
4. Maryland: In Maryland, students can expect to shell out an average of $43,599.64 for an MBA. Schools like the University of Maryland’s Smith School of Business offer respected programs.
5. Oregon: Oregon’s average MBA cost is $40,283.67. The state’s price tag is influenced by programs at the University of Oregon’s Lundquist College of Business.
6. Pennsylvania: With an average MBA cost of $37,580.07, Pennsylvania is home to the Wharton School at the University of Pennsylvania, one of the nation’s top business schools.
7. New York: New York’s average MBA cost is $37,021.79. Prestigious schools like Columbia Business School and NYU Stern are located here, driving up the cost.
8. Minnesota: Minnesota’s average MBA cost is $37,005.01. The cost is influenced by programs at the University of Minnesota’s Carlson School of Management.
9. New Jersey: In New Jersey, students will pay an average of $34,392.49 for an MBA. The state hosts several respected programs, contributing to the cost.
10. California: Rounding out the list, California’s average MBA cost is $34,366.17. Despite its position, the state houses top-tier programs at Stanford Graduate School of Business and UC Berkeley’s Haas School of Business.

These figures reflect the high demand for MBA programs in these states, which are also the home of some of the country’s most prestigious business schools. Students should also consider factors like living expenses and potential financial aid when calculating the total cost of an MBA program. Here is a summary of the 10 most affordable states to earn an MBA.

Resources

• AACSB
• Each Official School Website