Evaluate potential earnings with an MBA
When you’re deciding on a business school, research salary-to-debt ratio to work out your income potential. That return on investment is calculated by dividing the average earnings of recent graduates — salary and signing bonus — by the average student debt incurred. Based on data collected by U.S. News, here are 30 ranked business schools where full-time MBA grads earning six-figure salaries on average within three months of graduation received the highest ROI for their MBA. The schools are listed in ascending order based on their salary-to-debt ratio, so the school with the best return on investment is last.
Emory University (Goizueta) (GA)
U.S. News business school rank: 17
2024 average salary and signing bonus within three months of graduating: $181,968
2024 average debt: $104,215
Salary-to-debt ratio: 1.7-to-1
Learn more about the Goizueta Business School at Emory University.
Duke University (Fuqua) (NC)
U.S. News business school rank: 13 (tie)
2024 average salary and signing bonus within three months of graduating: $194,408
2024 average debt: $109,759
Salary-to-debt ratio: 1.8-to-1
Learn more about the Fuqua School of Business at Duke University.
Rutgers University–Newark and New Brunswick (NJ)
U.S. News business school rank: 53
2024 average salary and signing bonus within three months of graduating: $108,943
2024 average debt: $60,923
Salary-to-debt ratio: 1.8-to-1
Learn more about Rutgers Business School.
Harvard University (MA)
U.S. News business school rank: 6 (tie)
2024 average salary and signing bonus within three months of graduating: $193,837
2024 average debt: $99,571
Salary-to-debt ratio: 1.9-to-1
Learn more about the Business School at Harvard University.
Vanderbilt University (Owen) (TN)
U.S. News business school rank: 18 (tie)
2024 average salary and signing bonus within three months of graduating: $180,913
2024 average debt: $93,088
Salary-to-debt ratio: 1.9-to-1
Learn more about the Owen Graduate School of Management at Vanderbilt University.
Rice University (Jones) (TX)
U.S. News business school rank: 29 (tie)
2024 average salary and signing bonus within three months of graduating: $175,534
2024 average debt: $88,204
Salary-to-debt ratio: 2-to-1
Learn more about the Jesse H. Jones Graduate School of Business at Rice University.
University of North Carolina–Chapel Hill (Kenan-Flagler)
U.S. News business school rank: 28
2024 average salary and signing bonus within three months of graduating: $168,787
2024 average debt: $85,320
Salary-to-debt ratio: 2-to-1
Learn more about the Kenan-Flagler Business School at University of North Carolina–Chapel Hill.
Syracuse University (Whitman) (NY)
U.S. News business school rank: 54 (tie)
2024 average salary and signing bonus within three months of graduating: $138,417
2024 average debt: $66,617
Salary-to-debt ratio: 2.1-to-1
Learn more about the Martin J. Whitman School of Management at Syracuse University
William & Mary (Mason) (VA)
U.S. News business school rank: 61 (tie)
2024 average salary and signing bonus within three months of graduating: $116,913
2024 average debt: $54,555
Salary-to-debt ratio: 2.1-to-1
Learn more about the Raymond A. Mason School of Business at William & Mary.
Ohio State University (Fisher)
U.S. News business school rank: 24 (tie)
2024 average salary and signing bonus within three months of graduating: $143,010
2024 average debt: $65,780
Salary-to-debt ratio: 2.2-to-1
Learn more about the Max M. Fisher College of Business at Ohio State University.
University of Florida (Warrington)
U.S. News business school rank: 38 (tie)
2024 average salary and signing bonus within three months of graduating: $139,684
2024 average debt: $61,694
Salary-to-debt ratio: 2.3-to-1
Learn more about the Warrington College of Business at the University of Florida.
University of Rochester (Simon) (NY)
U.S. News business school rank: 32 (tie)
2024 average salary and signing bonus within three months of graduating: $149,724
2024 average debt: $62,942
Salary-to-debt ratio: 2.4-to-1
Learn more about Simon Business School at the University of Rochester.
Washington University in St. Louis (Olin) (MO)
U.S. News business school rank: 24 (tie)
2024 average salary and signing bonus within three months of graduating: $153,473
2024 average debt: $61,149
Salary-to-debt ratio: 2.5-to-1
Learn more about the Olin Business School at Washington University in St. Louis.
University of Notre Dame (Mendoza) (IN)
U.S. News business school rank: 32 (tie)
2024 average salary and signing bonus within three months of graduating: $160,427
2024 average debt: $61,670
Salary-to-debt ratio: 2.6-to-1
Learn more about the Mendoza College of Business at University of Notre Dame.
University of Washington (Foster)
U.S. News business school rank: 22 (tie)
2024 average salary and signing bonus within three months of graduating: $180,757
2024 average debt: $65,551
Salary-to-debt ratio: 2.8-to-1
Learn more about the Michael G. Foster School of Business at University of Washington.
Texas Christian University (Neeley)
U.S. News business school rank: 43 (tie)
2024 average salary and signing bonus within three months of graduating: $143,650
2024 average debt: $49,655
Salary-to-debt ratio: 2.9-to-1
Learn more about the Neeley School of Business at Texas Christian University.
University of Minnesota–Twin Cities (Carlson)
U.S. News business school rank: 35 (tie)
2024 average salary and signing bonus within three months of graduating: $156,755
2024 average debt: $53,142
Salary-to-debt ratio: 2.9-to-1
Learn more about the Carlson School of Management at University of Minnesota–Twin Cities.
Texas A&M University–College Station (Mays)
U.S. News business school rank: 43 (tie)
2024 average salary and signing bonus within three months of graduating: $149,742
2024 average debt: $49,934
Salary-to-debt ratio: 3-to-1
Learn more about the Mays Business School at Texas A&M University–College Station.
University of Wisconsin–Madison
U.S. News business school rank: 40 (tie)
2024 average salary and signing bonus within three months of graduating: $136,476
2024 average debt: $45,611
Salary-to-debt ratio: 3-to-1
Learn more about the Wisconsin School of Business at University of Wisconsin–Madison.
Indiana University (Kelley)
U.S. News business school rank: 22 (tie)
2024 average salary and signing bonus within three months of graduating: $163,015
2024 average debt: $51,394
Salary-to-debt ratio: 3.2-to-1
Learn more about the Kelley School of Business at Indiana University.
Lehigh University (PA)
U.S. News business school rank: 86 (tie)
2024 average salary and signing bonus within three months of graduating: $121,987
2024 average debt: $36,819
Salary-to-debt ratio: 3.3-to-1
Learn more about the Lehigh University College of Business.
Brigham Young University (Marriott) (UT)
U.S. News business school rank: 38 (tie)
2024 average salary and signing bonus within three months of graduating: $137,440
2024 average debt: $38,317
Salary-to-debt ratio: 3.6-to-1
Learn more about the Marriott School of Business at Brigham Young University.
University of Massachusetts–Amherst (Isenberg)
U.S. News business school rank: 76
2024 average salary and signing bonus within three months of graduating: $106,402
2024 average debt: $29,154
Salary-to-debt ratio: 3.6-to-1
Learn more about the Isenberg School of Management at University of Massachusetts–Amherst.
University of South Carolina (Moore)
U.S. News business school rank: 71
2024 average salary and signing bonus within three months of graduating: $116,467
2024 average debt: $32,497
Salary-to-debt ratio: 3.6-to-1
Learn more about the Darla Moore School of Business at University of South Carolina.
Arizona State University (W.P. Carey)
U.S. News business school rank: 35 (tie)
2024 average salary and signing bonus within three months of graduating: $120,578
2024 average debt: $32,227
Salary-to-debt ratio: 3.7-to-1
Learn more about the W. P. Carey School of Business at Arizona State University.
Michigan State University (Broad)
U.S. News business school rank: 35 (tie)
2024 average salary and signing bonus within three months of graduating: $137,730
2024 average debt: $35,015
Salary-to-debt ratio: 3.9-to-1
Learn more about the Eli Broad Graduate School of Management at Michigan State University.
University of Texas at Dallas (Jindal)
U.S. News business school rank: 31
2024 average salary and signing bonus within three months of graduating: $133,665
2024 average debt: $32,673
Salary-to-debt ratio: 4.1-to-1
Learn more about the Naveen Jindal School of Management at University of Texas at Dallas.
CUNY Bernard M. Baruch College (Zicklin)
U.S. News business school rank: 61 (tie)
2024 average salary and signing bonus within three months of graduating: $116,150
2024 average debt: $19,502
Salary-to-debt ratio: 6-to-1
Learn more about the Zicklin School of Business at CUNY Bernard M. Baruch College.
Fordham University (Gabelli) (NY)
U.S. News business school rank: 58 (tie)
2024 average salary and signing bonus within three months of graduating: $141,522
2024 average debt: $21,651
Salary-to-debt ratio: 6.5-to-1
Learn more about the Gabelli School of Business at Fordham University.
University of Georgia (Terry)
U.S. News business school rank: 29 (tie)
2024 average salary and signing bonus within three months of graduating: $146,482
2024 average debt: $22,273
Salary-to-debt ratio: 6.6-to-1
Learn more about the Terry College of Business at the University of Georgia.
Learn more about applying for an MBA
See the complete Best Business Schools rankings, and find guidance on crafting a compelling MBA application. Follow U.S. News Education on Facebook and X/Twitter for the latest education news and advice.
Discover MBA programs with high salary-to-debt ratios
— University of Georgia (Terry): 6.6-to-1
— Fordham University (Gabelli) (NY): 6.5-to-1
— CUNY Bernard Baruch College (Zicklin): 6-to-1
— University of Texas at Dallas (Jindal): 4.1-to-1
— Michigan State University (Broad): 3.9-to-1
— Arizona State University (W.P. Carey): 3.7-to-1
— Brigham Young University (Marriott) (UT): 3.6-to-1
— University of Massachusetts–Amherst (Isenberg): 3.6-to-1
— University of South Carolina (Moore): 3.6-to-1
— Lehigh University (PA): 3.3-to-1
— Indiana University (Kelley): 3.2-to-1
— Texas A&M University–College Station (Mays): 3-to-1
— University of Wisconsin–Madison: 3-to-1
— Texas Christian University (Neeley): 2.9-to-1
— University of Minnesota–Twin Cities (Carlson): 2.9-to-1
— University of Washington (Foster): 2.8-to-1
— University of Notre Dame (Mendoza): 2.6-to-1
— Washington University in St. Louis (Olin) (MO): 2.5-to-1
— University of Rochester (Simon) (NY): 2.4-to-1
— University of Florida (Warrington): 2.3-to-1
— Ohio State University (Fisher): 2.2-to-1
— Syracuse University (Whitman) (NY): 2.1-to-1
— William & Mary (Mason) (VA): 2.1-to-1
— Rice University (Jones) (TX): 2-to-1
— University of North Carolina–Chapel Hill (Kenan-Flagler): 2-to-1
— Harvard University (MA): 1.9-to-1
— Vanderbilt University (Owen): 1.9-to-1
— Duke University (Fuqua): 1.8-to-1
— Rutgers University–Newark and New Brunswick (NJ): 1.8-to-1
— Emory University (Goizueta) (GA): 1.7-to-1
More from U.S. News
5 Ways to Be a Competitive MBA Applicant
3 Ways to Recover From a Bad MBA Interview
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MBA ROI: 30 Programs With the Highest Return for Grads Earning Over $100,000 originally appeared on usnews.com
Update 07/28/25: This story was published at an earlier date and has been updated with new information.
