When deciding which MBA program is best for you, pricing will undoubtedly come into play. Tuition costs are the main cause in this cost. According to our BusinessBecause Cost of MBA Report 2022, the majority of the world’s best business schools are located in the United States, where tuition prices increased by 2.9% from 2021 to 2022.
Our research details the overall cost of attending a top-ranked MBA program, as reported in the Financial Times MBA Ranking, including tuition, supplementary fees, living expenses, healthcare, and the books and materials you can anticipate to pay for during a full-time MBA program.
The increase in tuition at US schools contributed considerably to the 6.8% overall cost increase of MBAs in 2022. While tuition expenses at non-US colleges appeared to be decreasing, this was mostly owing to the strengthening of the dollar.
So, how much does an MBA cost at major business schools like Harvard, Wharton, Columbia, and INSEAD in terms of overall tuition fees?
Most expensive MBA tuition fees
Wharton charges the world’s most expensive MBA tuition fees, an estimated $162,460 for two years, according to our report.
Wharton’s fees cost $40,000 more than the cheapest US MBA in our list at Georgetown McDonough ($121,788).
The average cost of tuition for the M7 business schools is $153,427.
The Harvard MBA has the lowest tuition prices of the M7 business schools, costing $146,880 in total. The tuition for a Columbia MBA is $154,752. Stanford MBA tuition is anticipated to be $149,412 for two years.
The average cost of MBA tuition in the United States is more than $50,000 higher than in Europe and more than $70,000 higher than in Asia.
Studying at a US university will usually cost you extra because most US MBA programs are two years long, tripling your annual tuition.
*For US MBA programs, we have doubled the cost of tuition for 2021-22 to get a total two-year tuition cost. All non-US tuition fees have been converted from local currency into US$.