Each year since 2011, The Economist magazine publishes “Which MBA?”, a list of the world’s top 100 Masters in Business Administration (MBA) programs.
This year’s list was topped by the University of Chicago Booth School of Business, Northwestern University’s Kellogg School of Management and the Harvard Business School.
The Economist surveyed thousands of MBA students worldwide and assessed the business programs using four main metrics: new career opportunities (35 percent), personal development or educational experience (35 percent), increase in salary (20 percent) and potential to network (10 percent).
But if just the MBA graduates’ average pay is used, a different sort of ranking emerges. (See infographic)
According to the report, MBA degree holders from Stanford University Graduate School of Business in the US have the highest average salaries among the 20 best business schools in the world, with an average of $144,455. Harvard Business School graduates follow, who earn an average of $137,293 in salaries after getting their MBA. The Wharton School of the University of Pennsylvania ranks third with average pay of $135,716.
But higher post-MBA salaries seem to entail huge costs as well. Stanford University’s total tuition fee for the course amounts to $123,533, while Harvard’s fees amount to $128,520 and Wharton charges a tuition of $131,580.
“Which MBA?” also provided information on the graduates’ capacities to land a job within three months after graduating. IESE Business School of the University of Navarra tops this ranking, with 99 percent of graduates employed within three months.
Pauline Macaraeg is Entrepreneur PH's data journalist. Follow her on Twitter @paulinemacaraeg. Additional research by Clyde Gaviola