Businessweek’s recently published MBA ranking also reported data about the tuition rates at each program. The cost of an MBA degree rose in the last decade, and choosing a top program means a hefty investment. The average cost of MBA tuition and additional fees stands at $78,982, while two-year programs average $85,306 with more than 20 programs exceeding the $100,000 line. Adding costs of books, living, and the loss of two years’ salary, an MBA can rack up an average total bill of $230,676.
The five most expensive programs (among the two-year programs, calculating tuition and other educational fees) were:
And what about the most selective programs? Selectivity is equated by many with quality; candidates who do succeed in gaining acceptance will assumingly be surrounded by smart and talented people. Data gathered by Businessweek ahead of the ranking’s publication showed which programs accept the lowest percentage of applicants.
The average acceptance rate among Businessweek’s top 30 programs was 27.8%, with 19.4% among the top-10 programs compared with 32% among the other programs. Stanford was the most selective program and the only one with a single-digit acceptance rate- 7%, followed by: