CareerReturns · MBA Salary Data
MBA Salary by School 2026
Median post-MBA salary, full range, and class size for 25 business schools — M7, T15, T25, top global programs, and ranked online MBAs. Data reflects 2026 placement outcomes.
Quick Answer
M7 median: $175K–$210K | T15: $140K–$165K | T25: $115K–$140K
Stanford GSB leads at $210K median; Booth offers the best M7 salary-to-cost ratio at 0.93x. Online ranked programs (Kelley, UNC) deliver $100K–$105K with significantly lower total cost.
$205K
HBS Median
$200K
Wharton Median
$185–210K
M7 Range
$100–105K
Top Online
M7 MBA Salary by School
M7 programs provide on-campus recruiting access to MBB consulting, bulge-bracket banking, and top-tier tech firms. Salary range reflects all placed graduates; top-quartile outcomes are driven by finance and consulting placements.
| School | Median Salary | Salary Range | Class Size |
|---|---|---|---|
| Harvard Business School | $205K | $175K–$250K+ | 900+/yr |
| Stanford GSB | $210K | $180K–$275K+ | 400+/yr |
| Wharton (UPenn) | $200K | $175K–$245K+ | 900+/yr |
| Booth (Chicago) | $195K | $165K–$240K+ | 600+/yr |
| Kellogg (Northwestern) | $185K | $160K–$230K+ | 500+/yr |
| MIT Sloan | $190K | $165K–$235K+ | 400+/yr |
| Columbia Business School | $185K | $160K–$225K+ | 750+/yr |
Top 15 MBA Salary by School
T15 programs provide access to Tier 2 consulting (Big 4 Strategy, regional MBB offices), regional finance, and general management pipelines. Salary premiums over T25 are most pronounced for consulting and finance tracks.
| School | Median Salary | Salary Range | Class Size |
|---|---|---|---|
| Dartmouth Tuck | $175K | $155K–$215K+ | 300+/yr |
| Duke Fuqua | $165K | $145K–$205K+ | 450+/yr |
| Yale SOM | $160K | $140K–$200K+ | 350+/yr |
| Michigan Ross | $165K | $145K–$205K+ | 450+/yr |
| UCLA Anderson | $160K | $135K–$200K+ | 400+/yr |
| NYU Stern | $165K | $145K–$210K+ | 500+/yr |
| Cornell Johnson | $155K | $135K–$195K+ | 300+/yr |
Top 25 MBA Salary by School
T25 programs deliver strong regional outcomes, particularly for general management, healthcare, and mid-market consulting. The salary gap vs. T15 narrows for non-MBB tracks.
| School | Median Salary | Salary Range | Class Size |
|---|---|---|---|
| Georgetown McDonough | $145K | $125K–$185K+ | 350+/yr |
| UNC Kenan-Flagler | $135K | $115K–$175K+ | 350+/yr |
| Indiana Kelley | $130K | $110K–$165K+ | 350+/yr |
| UT Austin McCombs | $140K | $120K–$175K+ | 350+/yr |
| Emory Goizueta | $130K | $110K–$165K+ | 200+/yr |
| USC Marshall | $135K | $115K–$170K+ | 400+/yr |
Global & Online MBA Salary by School
Global programs (INSEAD, LBS, ISB) vary significantly by currency and placement market. Online ranked programs deliver $100K–$105K medians with dramatically lower total program cost.
| School | Tier | Median Salary | Salary Range |
|---|---|---|---|
| INSEAD | Global | $155K (global) | $130K–$200K+ |
| London Business School | Global | $145K | £95K–£175K+ |
| ISB (India) | Global | ₹28L median | ₹22L–₹45L+ |
| Indiana Kelley Online | Online | $105K | $85K–$130K+ |
| UNC Online MBA | Online | $100K | $80K–$125K+ |
Tier Comparison
MBA Salary by School Tier: Side-by-Side
The salary gap between tiers is largest for consulting and finance tracks, where school brand directly controls recruiting access. For tech, healthcare, and general management, the gap between M7 and T15 narrows considerably.
M7 Programs
Median: $185K–$210K
Consulting
$212K–$232K
Technology
$185K–$220K
Finance
$200K–$350K
General Mgmt
$140K–$165K
T15 Programs
Median: $150K–$175K
Consulting
$165K–$185K
Technology
$160K–$185K
Finance
$175K–$200K
General Mgmt
$120K–$140K
T25 Programs
Median: $110K–$140K
Consulting
$130K–$155K
Technology
$120K–$150K
Finance
$130K–$160K
General Mgmt
$95K–$115K
Ranked Online MBA
Median: $90K–$115K
Consulting
Limited access
Technology
$110K–$130K
Finance
N/A
General Mgmt
$85K–$105K
Source: GMAC Employment Report 2024, school-published placement reports, Glassdoor aggregates. Finance includes IB total compensation (base + bonus). Consulting reflects MBB total comp.
Return on Investment
MBA Salary vs. Total Cost: ROI by School
The salary-to-cost ratio (median first-year salary divided by total program cost) is a blunt but useful first filter. It does not account for salary growth, signing bonuses, or opportunity cost — but it quickly separates programs where the sticker price is defensible from those where it requires a high-salary track to justify.
| School | Median Salary | Total Cost | Salary / Cost | Note |
|---|---|---|---|---|
| Stanford GSB | $210K | $230K | 0.91x | Strong PE/VC equity upside improves long-run ROI |
| Harvard Business School | $205K | $230K | 0.89x | MBB placement rate among the highest of any program |
| Wharton | $200K | $230K | 0.87x | IB/PE pipeline; strong finance alumni network |
| MIT Sloan | $190K | $215K | 0.88x | Tech/quant emphasis; strong RSU outcomes |
| Booth (Chicago) | $195K | $210K | 0.93x | Highest ROI ratio among M7; lower tuition than HBS/Wharton |
| Kellogg | $185K | $210K | 0.88x | CPG, marketing, and consulting tracks |
| Columbia | $185K | $215K | 0.86x | NYC location drives IB and PE recruiting access |
| Tuck (Dartmouth) | $175K | $205K | 0.85x | Smaller class; strong alumni density in consulting |
| Fuqua (Duke) | $165K | $185K | 0.89x | Health sector and consulting track strength |
| Kelley Online | $105K | $55K | 1.91x | Best cost-to-salary ratio; no opportunity cost |
Total cost = 2-year tuition + estimated living expenses. Online MBA cost reflects full program cost (no opportunity cost). Ratio above 0.90x indicates strong first-year salary relative to investment; online programs are structurally advantaged on this metric.
For a full NPV and IRR model of your specific school and career track, use the MBA ROI Calculator →
Career Tracks
Top MBA Schools for Specific Career Tracks
School tier matters more for some career paths than others. MBB consulting and bulge-bracket banking are the most brand-sensitive tracks; general management and healthcare are more accessible from T15 programs. The best school for your MBA salary depends heavily on your target industry.
Investment Banking
Proximity to Wall Street and structured IB recruiting pipelines make Wharton and Columbia the top choices. All M7 programs offer bulge bracket on-campus recruiting.
MBB Consulting
MBB recruits heavily from all M7 programs. HBS and Wharton produce the largest absolute number of McKinsey/BCG/Bain hires annually. Booth has the highest MBB offer rate as a share of class.
Tech / Product Management
Stanford's Bay Area location and MIT's tech-industry ties produce the strongest FAANG product management pipelines. RSU-inclusive total compensation at these schools can exceed $300K.
Private Equity / Venture Capital
PE and VC are the most brand-sensitive post-MBA tracks. HBS and Stanford dominate PE megafund placement; Wharton leads for IB-to-PE transitions.
General Management / CPG
Kellogg leads for CPG brand management (P&G, Unilever, J&J). Fuqua and Darden have strong GM program pipelines. T15 programs are competitive for these tracks.
Healthcare Management
Duke Fuqua and Yale SOM have dedicated health sector programs. Healthcare management salaries ($140K–$165K) are below finance/consulting but career trajectory is stable.
Harvard MBA Salary After 10 Years
The Harvard MBA salary after 10 years diverges dramatically by career path. HBS alumni in MBB consulting who reach principal or partner level earn $600K–$2M+. Investment banking alumni at the Director/MD level earn $700K–$2M+ including carry. Tech product leaders at senior FAANG levels earn $400K–$800K total compensation. General management and nonprofit tracks earn $200K–$350K at the 10-year mark.
The Harvard MBA 10-year salary is most useful as a distribution rather than a single number. The median HBS alum 10 years post-graduation earns approximately $300K–$400K — but the top quartile significantly exceeds this through equity participation, carry, and senior leadership compensation at FAANG and PE firms.
Frequently Asked Questions
What is the highest paying MBA school?
Stanford GSB produces the highest median post-MBA salary at approximately $210K, driven by its strong tech and venture capital placement pipeline in the Bay Area. Harvard Business School and Wharton follow at $205K and $200K respectively. All three are M7 programs with on-campus MBB and bulge-bracket banking recruiting access that drives top-quartile outcomes above $250K.
What is the Harvard MBA salary?
The median post-MBA salary at Harvard Business School (HBS) is approximately $205K for the class of 2024–2026. The full salary range spans $175K–$250K+ depending on industry track. HBS MBB consulting placements start at $212K–$232K total compensation; investment banking placements start at $275K–$350K total comp. The Harvard MBA salary for general management tracks is $140K–$170K.
What is the Wharton MBA salary?
The median post-MBA salary at Wharton School of the University of Pennsylvania is approximately $200K. Wharton's finance and investment banking pipeline is among the strongest of any MBA program — IB placements at bulge bracket firms start at $275K–$350K total compensation. Wharton MBA salary for consulting (MBB) tracks is $212K–$232K. The full reported range for Wharton 2025 placement is $175K–$245K+.
Which MBA program has the best salary outcomes?
On median salary alone, Stanford GSB ($210K) leads, followed by HBS ($205K) and Wharton ($200K). On 10-year ROI, Booth and Wharton are competitive with HBS due to lower tuition and strong consulting/finance pipelines. For tech-track salaries, Stanford and MIT Sloan produce the strongest outcomes. For investment banking, Wharton and Columbia's proximity to Wall Street gives them structural recruiting advantages.
What is the M7 MBA average salary?
The M7 MBA average salary (median across all M7 programs: HBS, Wharton, Booth, Kellogg, MIT Sloan, Columbia, Stanford GSB) is approximately $185K–$210K for the first year post-graduation across all industry tracks. For consulting and banking tracks specifically, M7 median total compensation is $212K–$350K depending on industry. The average M7 MBA salary across all placed graduates is approximately $195K.
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