38 MBAs With the Highest Return for Grads Earning $100,000-Plus

Evaluate potential earnings with an MBA.

A 2018 survey by the Graduate Management Admission Council found that the vast majority of alumni of two-year, full-time MBA programs — 93% — say their degree was professionally rewarding, and 83% of these alumni say that their degree was financially beneficial. One way to gauge future income potential is to look at a school’s salary-to-debt ratio. That rate of return is calculated by dividing the average salary and signing bonus of recent grads by the average student debt of those who borrowed. Here are 38 ranked business schools where full-time MBA grads earning more than $100,000 on average within three months of graduation received the highest return.

Duke University (Fuqua) (NC)

U.S. News business school rank: 12 (tie)

Average salary and signing bonus within three months of graduating (2019): $167,974

Average debt (2019): $119,125

Salary-to-debt ratio: 1.4-to-1

Learn more about the Fuqua School of Business.

George Washington University (DC)

U.S. News business school rank: 53 (tie)

Average salary and signing bonus within three months of graduating (2019): $121,466

Average debt (2019): $87,203

Salary-to-debt ratio: 1.4-to-1

Learn more about George Washington University School of Business.

University of California–Irvine (Merage)

U.S. News business school rank: 67

Average salary and signing bonus within three months of graduating (2019): $115,662

Average debt (2019): $75,447

Salary-to-debt ratio: 1.5-to-1

Learn more about the Paul Merage School of Business.

University of North Carolina–Chapel Hill (Kenan-Flagler)

U.S. News business school rank: 20 (tie)

Average salary and signing bonus within three months of graduating (2019): $153,565

Average debt (2019): $103,206

Salary-to-debt ratio: 1.5-to-1

Learn more about the Kenan-Flagler Business School.

William & Mary (Mason) (VA)

U.S. News business school rank: 62 (tie)

Average salary and signing bonus within three months of graduating (2019): $109,321

Average debt (2019): $70,600

Salary-to-debt ratio: 1.5-to-1

Learn more about the Raymond A. Mason School of Business.

Yale University (CT)

U.S. News business school rank: 9

Average salary and signing bonus within three months of graduating (2019): $160,724

Average debt (2019): $103,750

Salary-to-debt ratio: 1.5-to-1

Learn more about the Yale School of Management.

Stanford University (CA)

U.S. News business school rank: 1 (tie)

Average salary and signing bonus within three months of graduating (2019): $180,831

Average debt (2019): $109,747

Salary-to-debt ratio: 1.6-to-1

Learn more about the Stanford Graduate School of Business.

University of California–Berkeley (Haas)

U.S. News business school rank: 7

Average salary and signing bonus within three months of graduating (2019): $166,960

Average debt (2019): $97,135

Salary-to-debt ratio: 1.7-to-1

Learn more about the Haas School of Business.

University of California–Davis

U.S. News business school rank: 48 (tie)

Average salary and signing bonus within three months of graduating (2019): $113,812

Average debt (2019): $66,904

Salary-to-debt ratio: 1.7-to-1

Learn more about the UC–Davis Graduate School of Management.

University of Virginia (Darden)

U.S. News business school rank: 11

Average salary and signing bonus within three months of graduating (2019): $168,626

Average debt (2019): $97,330

Salary-to-debt ratio: 1.7-to-1

Learn more about the Darden School of Business.

Vanderbilt University (Owen) (TN)

U.S. News business school rank: 23 (tie)

Average salary and signing bonus within three months of graduating (2019): $144,530

Average debt (2019): $86,530

Salary-to-debt ratio: 1.7-to-1

Learn more about the Owen Graduate School of Management.

Fordham University (Gabelli) (NY)

U.S. News business school rank: 80 (tie)

Average salary and signing bonus within three months of graduating (2019): $111,179

Average debt (2019): $63,528

Salary-to-debt ratio: 1.8-to-1

Learn more about the Gabelli School of Business.

Boston College (Carroll)

U.S. News business school rank: 48 (tie)

Average salary and signing bonus within three months of graduating (2019): $134,552

Average debt (2019): $71,122

Salary-to-debt ratio: 1.9-to-1

Learn more about the Carroll School of Management.

Howard University (DC)

U.S. News business school rank: 70 (tie)

Average salary and signing bonus within three months of graduating (2019): $127,084

Average debt (2019): $66,575

Salary-to-debt ratio: 1.9-to-1

Learn more about the Howard University School of Business.

University of Texas–Austin (McCombs)

U.S. News business school rank: 18

Average salary and signing bonus within three months of graduating (2019): $154,181

Average debt (2019): $82,937

Salary-to-debt ratio: 1.9-to-1

Learn more about the McCombs School of Business.

Washington University in St. Louis (Olin)

U.S. News business school rank: 30 (tie)

Average salary and signing bonus within three months of graduating (2019): $142,621

Average debt (2019): $75,852

Salary-to-debt ratio: 1.9-to-1

Learn more about the Olin Business School.

Harvard University (MA)

U.S. News business school rank: 6

Average salary and signing bonus within three months of graduating (2019): $176,928

Average debt (2019): $87,539

Salary-to-debt ratio: 2-to-1

Learn more about Harvard Business School.

Michigan State University (Broad)

U.S. News business school rank: 40

Average salary and signing bonus within three months of graduating (2019): $122,214

Average debt (2019): $57,679

Salary-to-debt ratio: 2.1-to-1

Learn more about the Eli Broad College of Business.

Rice University (Jones) (TX)

U.S. News business school rank: 25 (tie)

Average salary and signing bonus within three months of graduating (2019): $151,327

Average debt (2019): $70,390

Salary-to-debt ratio: 2.1-to-1

Learn more about the Jesse H. Jones Graduate School of Business.

Texas Christian University (Neeley)

U.S. News business school rank: 56 (tie)

Average salary and signing bonus within three months of graduating (2019): $107,812

Average debt (2019): $50,178

Salary-to-debt ratio: 2.1-to-1

Learn more about the Neeley School of Business.

Emory University (Goizueta) (GA)

U.S. News business school rank: 22

Average salary and signing bonus within three months of graduating (2019): $154,857

Average debt (2019): $70,930

Salary-to-debt ratio: 2.2-to-1

Learn more about the Goizueta Business School.

Temple University (Fox) (PA)

U.S. News business school rank: 62 (tie)

Average salary and signing bonus within three months of graduating (2019): $120,488

Average debt (2019): $54,636

Salary-to-debt ratio: 2.2-to-1

Learn more about the Richard J. Fox School of Business and Management.

University of Minnesota–Twin Cities (Carlson)

U.S. News business school rank: 28 (tie)

Average salary and signing bonus within three months of graduating (2019): $139,203

Average debt (2019): $61,154

Salary-to-debt ratio: 2.3-to-1

Learn more about the Carlson School of Management.

University of Notre Dame (Mendoza) (IN)

U.S. News business school rank: 30 (tie)

Average salary and signing bonus within three months of graduating (2019): $144,536

Average debt (2019): $63,629

Salary-to-debt ratio: 2.3-to-1

Learn more about the Mendoza College of Business.

Ohio State University (Fisher)

U.S. News business school rank: 37 (tie)

Average salary and signing bonus within three months of graduating (2019): $125,965

Average debt (2019): $52,962

Salary-to-debt ratio: 2.4-to-1

Learn more about the Fisher College of Business.

Indiana University (Kelley)

U.S. News business school rank: 23 (tie)

Average salary and signing bonus within three months of graduating (2019): $139,489

Average debt (2019): $55,834

Salary-to-debt ratio: 2.5-to-1

Learn more about the Kelley School of Business.

University of South Carolina (Moore)

U.S. News business school rank: 62 (tie)

Average salary and signing bonus within three months of graduating (2019): $116,263

Average debt (2019): $45,675

Salary-to-debt ratio: 2.5-to-1

Learn more about the Darla Moore School of Business.

Brigham Young University (Marriott) (UT)

U.S. News business school rank: 30 (tie)

Average salary and signing bonus within three months of graduating (2019): $125,031

Average debt (2019): $41,905

Salary-to-debt ratio: 3-to-1

Learn more about the Marriott School of Business.

North Carolina State University (Poole)

U.S. News business school rank: 52

Average salary and signing bonus within three months of graduating (2019): $108,291

Average debt (2019): $34,567

Salary-to-debt ratio: 3.1-to-1

Learn more about the Poole College of Management.

Pennsylvania State University–University Park (Smeal)

U.S. News business school rank: 41 (tie)

Average salary and signing bonus within three months of graduating (2019): $131,265

Average debt (2019): $41,242

Salary-to-debt ratio: 3.2-to-1

Learn more about the Smeal College of Business.

CUNY Bernard M. Baruch College (Zicklin) (NY)

U.S. News business school rank: 62 (tie)

Average salary and signing bonus within three months of graduating (2019): $103,333

Average debt (2019): $30,150

Salary-to-debt ratio: 3.4-to-1

Learn more about the Zicklin School of Business.

University of Texas–Dallas

U.S. News business school rank: 33 (tie)

Average salary and signing bonus within three months of graduating (2019): $124,714

Average debt (2019): $33,977

Salary-to-debt ratio: 3.7-to-1

Learn more about UT–Dallas.

University of Washington (Foster)

U.S. News business school rank: 20 (tie)

Average salary and signing bonus within three months of graduating (2019): $151,581

Average debt (2019): $41,082

Salary-to-debt ratio: 3.7-to-1

Learn more about the Michael G. Foster School of Business.

Arizona State University (W.P. Carey)

U.S. News business school rank: 35 (tie)

Average salary and signing bonus within three months of graduating (2019): $122,914

Average debt (2019): $31,932

Salary-to-debt ratio: 3.8-to-1

Learn more about the W. P. Carey School of Business.

University of Wisconsin–Madison

U.S. News business school rank: 37 (tie)

Average salary and signing bonus within three months of graduating (2019): $132,662

Average debt (2019): $30,524

Salary-to-debt ratio: 4.3-to-1

Learn more about the Wisconsin School of Business.

University of Georgia (Terry)

U.S. News business school rank: 33 (tie)

Average salary and signing bonus within three months of graduating (2019): $115,184

Average debt (2019): $22,913

Salary-to-debt ratio: 5-to-1

Learn more about the Terry College of Business.

University of Florida (Warrington)

U.S. News business school rank: 28 (tie)

Average salary and signing bonus within three months of graduating (2019): $126,162

Average debt (2019): $23,176

Salary-to-debt ratio: 5.4-to-1

Learn more about the Warrington College of Business.

University of Massachusetts–Amherst (Isenberg)

U.S. News business school rank: 53 (tie)

Average salary and signing bonus within three months of graduating (2019): $131,388

Average debt (2019): $18,328

Salary-to-debt ratio: 7.2-to-1

Learn more about the Isenberg School of Management.

Learn more about applying for an MBA.

See the complete 2021 Best Business Schools rankings, and find guidance on crafting a compelling MBA application. Follow U.S. News Education on Facebook and Twitter for the latest education news and advice.

Discover MBA programs with high salary-to-debt ratios.

— University of Massachusetts–Amherst (Isenberg): 7.2-to-1

— University of Florida (Warrington): 5.4-to-1

— University of Georgia (Terry): 5-to-1

— University of Wisconsin–Madison: 4.3-to-1

— Arizona State University (W.P. Carey): 3.8-to-1

— University of Texas–Dallas: 3.7-to-1

— University of Washington (Foster): 3.7-to-1

— CUNY Bernard M. Baruch College (Zicklin): 3.4-to-1

— Pennsylvania State University–University Park (Smeal): 3.2-to-1

— North Carolina State University (Poole): 3.1-to-1

— Brigham Young University (Marriott): 3-to-1

— Indiana University (Kelley): 2.5-to-1

— University of South Carolina (Moore): 2.5-to-1

— Ohio State University (Fisher): 2.4-to-1

— University of Minnesota–Twin Cities (Carlson): 2.3-to-1

— University of Notre Dame (Mendoza): 2.3-to-1

— Emory University (Goizueta): 2.2-to-1

— Temple University (Fox): 2.2-to-1

— Michigan State University (Broad): 2.1-to-1

— Rice University (Jones): 2.1-to-1

— Texas Christian University (Neeley): 2.1-to-1

— Harvard University: 2-to-1

— Boston College (Carroll): 1.9-to-1

— Howard University: 1.9-to-1

— University of Texas–Austin (McCombs): 1.9-to-1

— Washington University in St. Louis: 1.9-to-1

— Fordham University (Gabelli): 1.8-to-1

— University of California–Berkeley (Haas): 1.7-to-1

— University of California–Davis: 1.7-to-1

— University of Virginia (Darden): 1.7-to-1

— Vanderbilt University (Owen): 1.7-to-1

— Stanford University: 1.6-to-1

— University of California–Irvine (Merage): 1.5-to-1

— University of North Carolina–Chapel Hill (Kenan-Flagler): 1.5-to-1

— William & Mary: 1.5-to-1

— Yale University: 1.5-to-1

— Duke University (Fuqua): 1.4-to-1

— George Washington University: 1.4-to-1

More from U.S. News

See Which MBA Programs Lead to the Best Return on Investment

Is an MBA Worth It? How to Decide

45 Graduate Degree Jobs That Can Pay More Than $100K

38 MBAs With the Highest Return for Grads Earning $100,000-Plus originally appeared on usnews.com

Update 05/13/20: This slideshow has been updated to reflect ranks and data from the 2021 U.S. News Best Business Schools rankings.

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