How Much Does Business School Cost?
Business School Prices
A master's degree in business administration, an MBA, is becoming a prerequisite for professionals who want to make a swift move to company management. An MBA requires one to two years of graduate-level work.
Unlike some graduate programs, it's not always a good idea to pursue an MBA right after college. It's usually better to have a few years of experience in your field of choice. MBAs with little or no work experience may have a difficult time finding a job.
Cost of Business School
The cost of business school varies widely, from about $4,000 per year to upwards of $60,000. The average annual cost to attend business school is $26,000, according to Bloomberg Businessweek.
The top 10 most prestigious business schools in the country charge about $45,000 to $50,000 per year in tuition. Most of them charge the same amount for in-state and out-of-state students. Tuition at Harvard Business School is $48,600. The total cost for the two-year, two-term program ranges from $79,600 for singles to $111,800 for someone who is married with two kids. The total cost includes living expenses such as room and board, insurance, program fees and other personal expenses.
If you're looking to attend a top 25 school, plan on spending at least $20,000 per year, but most likely closer to $40,000.
However, the best schools are not always the highest in price:
- Number 39-ranked Rice University in Houston charges $40,000 per year in tuition, but 26-ranked Georgia Institute of Technology costs $8,938 for in-state students and $32,660 per year for out-of-state students.
- Brigham Young University, ranked 33, charges $9,980 per year in tuition, while St. Louis University, ranked 82, costs $49,765 per year.
Other examples of business school tuitions include:
- Michigan State University, ranked 46, charged $21,690 for in-state students during the 2009-2010 school year and $33,000 for out-of-state students.
- Louisiana State in Baton Rouge, ranked 71, ran $8,520 for the complete program for in-state students and $26,820 out of state.
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