2025 Best ROI for MBA Programs

Executive Summary: Best ROI for MBA Programs in 2025

MBA programs continue to offer strong returns on investment (ROI) for many students, with some programs providing exceptional value. Key findings for include:

• ROI Distribution reveals a counterintuitive pattern: state universities show the highest returns with the top 10 ROI range from 645% to 1,139%), while prestigious and private institutions often yield lower returns (-40% to 10% ROI), with the national average at 186%.
• Top performers demonstrate the state university advantage: Texas A&M University-Texarkana leads with 1,139% ROI ($9,326 tuition with a graduate salary of $115,585), while prestigious schools like Stanford University have a graduate ROI of 10%($165,591 tuition with a graduate salary of $182,272), illustrating that higher tuition and starting salaries don’t necessarily translate to better ROI.
• Geographic location significantly impacts ROI potential, with highest returns in states like New Mexico – 505%, Montana – 431% and Idaho – 416% while traditionally prestigious locations have a much lower ROI. Oregon – 35%, New Hampshire – 37%, and District of Columbia – 62% show lower returns.
• Online vs Campus MBA Programs: Online MBA programs average 186% ROI versus 196% ROI for campus programs, representing a significant 11% advantage in financial returns.

While prestigious programs can offer strong returns, many lesser-known schools provide excellent value, especially when considering the total cost of the degree relative to career outcomes. Prospective students should carefully evaluate their personal circumstances and career goals when assessing MBA program ROI.

States with the Highest and Lowest ROI for MBA Programs

1. New Mexico - 505%
2. Montana - 431%
3. Idaho - 416%
4. Nevada - 344%
5. Maine - 340%
6. - 317%
7. Indiana - 317%
8. Mississippi - 305%
9. Arkansas - 296%
10. Oklahoma - 290%
11. Georgia - 290%
12. Nebraska - 287%
13. Kansas - 285%
14. Hawaii - 278%
15. Utah - 264%
16. Kentucky - 258%
17. Wyoming - 252%
18. Alabama - 238%
19. Texas - 235%
20. South Dakota - 234%
21. Iowa - 229%
22. South Carolina - 229%
23. Alaska - 221%
24. Missouri - 206%
25. Tennessee - 188%
26. North Carolina - 181%
27. West Virginia - 172%
28. Louisiana - 168%
29. Florida - 165%
30. Illinois - 165%
31. Ohio - 162%
32. Michigan - 160%
33. Maryland - 158%
34. Wisconsin - 158%
35. North Dakota - 149%
36. Minnesota - 146%
37. Virginia - 143%
38. Connecticut - 143%
39. Delaware - 140%
40. Washington - 135%
41. Rhode Island - 129%
42. California - 124%
43. Colorado - 120%
44. Vermont - 107%
45. Pennsylvania - 105%
46. Arizona - 105%
47. New York - 94%
48. New Jersey - 90%
49. Massachusetts - 86%
50. District of Columbia - 62%
51. New Hampshire - 37%
52. Oregon - 35%

Highest ROI for Campus MBA Programs

For in-person MBA programs in across the U.S., the ROI ranges from -40% to 1,139%. The lowest MBA ROI of -40% is from the program at Miami University.The highest MBA ROI of 1,139% is offered by St. Cloud State University. On average, MBA programs across the U.S. have an ROI of 186%.

Rank	University	ROI	In State Tuition	Avg. Starting Salary	State	Online
1	St. Cloud State University	16,000.00%	$78,003	$125,414	MN	Yes
2	North Carolina A&T State University	1,715.00%	$5,888	$101,000	NC	Yes
3	Georgia Southern University	1,290.00%	$6,802	$88,000	GA	Yes
4	Weber State University	1,170.00%	$10,332	$121,000	UT	Yes
5	Texas A&M University-Texarkana	1,139.00%	$9,496	$115,585	TX	No
6	Angelo State University	1,110.00%	$7,247	$81,000	TX	Yes
7	Tarleton State University	1,100.00%	$7,260	$81,926	TX	Yes
8	Southern Arkansas University	1,060.00%	$6,894	$73,500	AR	Yes
9	Tennessee State University	1,033.00%	$9,452	$107,108	TN	Yes
10	The University of Georgia	971.00%	$15,334	$149,000	GA	Yes
11	California State University, Dominguez Hills	952.00%	$9,090	$86,608	CA	Yes
12	Columbus State University	930.00%	$7,950	$74,000	GA	Yes
13	Idaho State University	908.00%	$5,820	$52,872	ID	Yes
14	Indiana University Northwest	906.00%	$7,458	$75,000	IN	Yes
15	Savannah State University	840.00%	$6,030	$51,068	GA	No
16	Appalachian State University	837.00%	$8,100	$67,833	NC	Yes
17	The University of Texas Permian Basin	710.00%	$10,800	$77,000	TX	Yes
18	Louisiana State University Shreveport	695.00%	$14,520	$101,000	LA	Yes
19	California State University, Fullerton	689.00%	$12,255	$84,536	CA	Yes
20	Georgia Southwestern State University	664.00%	$9,503	$63,113	GA	Yes
21	The University of Texas at Arlington	652.00%	$11,950	$78,000	TX	Yes
22	Northeastern State University	650.00%	$12,340	$80,820	OK	Yes
23	Mississippi State University	645.00%	$11,670	$91,600	MS	Yes
24	Valdosta State University	640.00%	$7,800	$50,000	GA	Yes
25	University of Nebraska at Kearney	627.00%	$9,603	$60,296	NE	Yes
26	Southeastern Oklahoma State University	622.00%	$11,730	$72,972	OK	Yes
27	California State University, Sacramento	620.00%	$11,124	$69,000	CA	Yes
28	University of Nevada, Las Vegas	616.00%	$17,031	$105,000	NV	Yes
29	Purdue University Northwest	605.00%	$23,400	$87,100	IN	No
30	Sam Houston State University	600.00%	$11,520	$69,200	TX	Yes
31	University of West Florida	594.00%	$124,608	$74,044	FL	Yes
32	University of Central Arkansas	581.00%	$9,240	$53,700	AR	Yes
33	West Texas A&M University	579.00%	$15,190	$88,000	TX	Yes
34	Texas Southern University	573.00%	$11,988	$68,784	TX	Yes
35	Troy University	566.00%	$14,725	$83,360	AL	Yes
36	Central Connecticut State University	562.00%	$27,000	$85,000	CT	No
37	Kennesaw State University	559.00%	$21,990	$123,000	GA	Yes
38	Metropolitan State University of Denver	553.00%	$15,000	$83,018	CO	Yes
39	The University of Texas at Tyler	550.00%	$13,068	$72,600	TX	Yes
40	University of North Georgia	546.00%	$11,355	$62,014	GA	Yes
41	University of Illinois at Springfield	540.00%	$15,720	$85,000	IL	Yes
42	Mississippi College	539.00%	$12,000	$64,757	MS	Yes
43	University of Illinois at Chicago	537.00%	$18,792	$101,000	IL	Yes
44	Baruch College-The City University of New York	531.00%	$19,200	$102,000	NY	Yes
45	Indiana University Kokomo	530.00%	$12,414	$66,900	IN	Yes
46	University of Central Florida	521.00%	$1,441,635	$75,200	FL	No
47	University of Alabama in Huntsville	515.00%	$11,670	$60,200	AL	Yes
48	The University of Mississippi	508.00%	$14,850	$75,537	MS	Yes
49	Radford University	500.00%	$18,108	$91,600	VA	Yes
50	Indiana University South Bend	495.00%	$12,180	$60,300	IN	Yes
51	Augusta University	493.00%	$5,642	$62,800	GA	Yes
52	New Mexico State University	491.00%	$14,940	$73,500	NM	Yes
52	Nicholls State University	491.00%	$14,940	$73,500	LA	Yes
54	Alabama A&M University	489.00%	$12,660	$62,000	AL	Yes
55	University of Southern Maine	486.00%	$18,000	$87,535	ME	Yes
56	University of Alabama at Birmingham	485.00%	$14,184	$68,800	AL	Yes
57	The University of North Carolina at Pembroke	480.00%	$11,092	$53,700	NC	Yes
58	University of Cincinnati	478.00%	$23,000	$110,000	OH	Yes
59	The Ohio State University	475.00%	$31,316	$149,006	OH	Yes
60	Illinois State University	473.00%	$1,521,252	$72,000	IL	No
60	Southern Illinois University Edwardsville	473.00%	$138,348	$65,550	IL	Yes
61	University of Mary Washington	473.00%	$20,220	$95,800	VA	Yes
63	Stephen F. Austin State University	467.00%	$10,600	$65,950	TX	Yes
64	The University of Rhode Island	465.00%	$18,453	$85,888	RI	Yes
65	Southern Utah University	461.00%	$16,632	$76,721	UT	Yes
66	Temple University	460.00%	$21,984	$101,659	PA	Yes
67	University of South Dakota	457.00%	$14,850	$68,000	SD	Yes
68	California State University, Bakersfield	451.00%	$10,260	$78,600	CA	Yes
69	Bowling Green State University	450.00%	$18,760	$86,141	OH	Yes
70	University of Massachusetts Dartmouth	448.00%	$21,330	$95,730	MA	No
71	West Chester University of PA	442.00%	$20,100	$89,000	PA	Yes
72	Binghamton University	440.00%	$17,870	$78,750	NY	No
72	California State University, East Bay	440.00%	$23,009	$101,245	CA	Yes
73	Louisiana Tech University	440.00%	$17,100	$75,383	LA	Yes
75	University of Nevada, Reno	435.00%	$19,000	$82,677	NV	No
76	University of Wisconsin-Madison	432.00%	$36,921	$159,583	WI	Yes
77	California State University, Los Angeles	430.00%	$23,004	$99,100	CA	No
78	East Texas A&M University	429.00%	$15,210	$65,300	TX	Yes
79	University of Florida	422.00%	$30,771	$130,000	FL	Yes
80	University of Southern Indiana	420.00%	$13,950	$58,700	IN	Yes
81	University of Tennessee at Martin	417.00%	$22,420	$57,450	TN	Yes
82	Arkansas State University	415.00%	$17,292	$71,917	AR	Yes
83	McNeese State University	413.00%	$10,879	$45,000	LA	Yes
84	University of Nebraska at Omaha	410.00%	$13,893	$89,200	NE	Yes
84	University of Wisconsin-Parkside	410.00%	$15,425	$63,450	WI	Yes
86	Texas A&M University-Kingsville	405.00%	$14,910	$65,600	TX	No
87	University of Central Oklahoma	402.00%	$15,500	$62,400	OK	Yes
88	Emporia State University	400.00%	$12,600	$59,400	KS	Yes
88	University of Montana	400.00%	$14,260	$57,000	MT	Yes
90	Middle Tennessee State University	395.00%	$22,506	$89,000	TN	Yes
91	University of Utah	392.00%	$30,600	$120,000	UT	Yes
91	Western Kentucky University	392.00%	$18,210	$62,000	KY	Yes
93	Morgan State University	388.00%	$19,314	$75,000	MD	No
94	Oklahoma State University	386.00%	$27,192	$105,000	OK	Yes
95	Lamar University	384.00%	$16,000	$63,600	TX	Yes
96	California State University, Chico	383.00%	$30,000	$115,000	CA	Yes
97	Longwood University	381.00%	$13,950	$64,200	VA	Yes
98	Eastern Illinois University	380.00%	$19,800	$75,338	IL	Yes
98	Northern Kentucky University	380.00%	$20,097	$77,987	KY	Yes
99	Pittsburg State University	380.00%	$11,970	$45,600	KS	Yes
100	University of Nebraska-Lincoln	380.00%	$34,080	$129,985	NE	Yes
101	Slippery Rock University	380.00%	$16,020	$61,100	PA	Yes
103	Michigan State University	379.00%	$36,981	$140,298	MI	Yes
104	University of Tennessee at Knoxville	378.00%	$29,600	$112,000	TN	Yes
105	Kent State University	375.00%	$18,410	$69,206	OH	Yes
106	Saginaw Valley State University	373.00%	$24,000	$102,450	MI	Yes
107	Western Carolina University	371.00%	$1,187,352	$44,100	NC	Yes
108	Brigham Young University	370.00%	$31,984	$120,881	UT	No
108	Jacksonville State University	370.00%	$12,300	$95,570	AL	Yes
109	University of West Georgia	370.00%	$18,900	$70,000	GA	Yes
111	Arkansas Tech University	369.00%	$9,435	$44,250	AR	Yes
112	Western Michigan University	363.00%	$27,540	$100,000	MI	Yes
113	Eastern Kentucky University	362.00%	$22,077	$80,000	KY	Yes
113	Purdue University Fort Wayne	362.00%	$17,784	$77,400	IN	Yes
114	Tennessee Technological University	362.00%	$17,643	$63,997	TN	Yes
115	Virginia Polytechnic Institute and State University	362.00%	$34,500	$125,000	VA	Yes
117	Clayton State University	361.00%	$11,055	$40,000	GA	Yes
118	University of Massachusetts Lowell	360.00%	$17,036	$61,467	MA	Yes
119	Henderson State University	356.00%	$12,837	$59,500	AR	Yes
119	University at Albany	356.00%	$17,828	$63,500	NY	Yes
120	University of Washington	356.00%	$42,405	$151,116	WA	No
122	Old Dominion University	355.00%	$26,273	$93,381	VA	Yes
123	Salisbury University	354.00%	$16,860	$59,700	MD	Yes
124	University of Wyoming	352.00%	$28,296	$99,720	WY	Yes
125	Montclair State University	351.00%	$2,682,042	$94,300	NJ	Yes
125	The University of Iowa	351.00%	$33,750	$118,569	IA	No
126	The University of Texas at Dallas	351.00%	$36,118	$127,000	TX	Yes
128	La Salle University	350.00%	$18,900	$66,266	PA	Yes
129	Virginia Commonwealth University	349.00%	$24,300	$85,000	VA	Yes
130	Missouri Western State University	348.00%	$14,850	$51,750	MO	Yes
130	Oklahoma City University	348.00%	$21,240	$74,000	OK	Yes
131	University of North Florida	348.00%	$17,784	$62,014	FL	No
133	Wichita State University	346.00%	$18,849	$65,305	KS	No
134	Florida Gulf Coast University	345.00%	$12,322	$59,700	FL	Yes
134	Western Illinois University	345.00%	$129,987	$67,800	IL	Yes
136	Abilene Christian University	340.00%	$23,400	$81,656	TX	Yes
136	Sonoma State University	340.00%	$25,000	$86,300	CA	No
138	Frostburg State University	338.00%	$16,740	$56,600	MD	Yes
138	University of South Carolina	338.00%	$31,014	$105,000	SC	No
139	University of the District of Columbia	338.00%	$33,948	$115,000	DC	No
141	Jacksonville University	337.00%	$32,400	$109,491	FL	Yes
142	University of Kentucky	336.00%	$33,264	$112,000	KY	Yes
142	University of Massachusetts Amherst	336.00%	$27,351	$92,000	MA	Yes
144	Morehead State University	334.00%	$18,360	$61,500	KY	Yes
144	University of St. Thomas-Minnesota	334.00%	$28,080	$94,000	MN	Yes
145	The University of Texas at Austin	334.00%	$53,818	$180,000	TX	No
147	Indiana State University	332.00%	$17,730	$82,000	IN	Yes
148	University of Puerto Rico at Rio Piedras	331.00%	$8,610	$60,000	PR	Yes
149	Ouachita Baptist University	330.00%	$19,310	$65,400	AR	Yes
149	Southeast Missouri State University	330.00%	$13,530	$59,400	MO	Yes
150	University of Alaska Anchorage	330.00%	$19,008	$63,838	AK	Yes
151	University of Wisconsin-Whitewater	330.00%	$23,536	$78,000	WI	Yes
153	John Carroll University	320.00%	$35,550	$115,000	OH	Yes
153	The Pennsylvania State University Great Valley	320.00%	$39,435	$127,000	PA	Yes
154	Shippensburg University	320.00%	$21,120	$69,300	PA	Yes
156	University of Vermont	319.00%	$29,780	$95,000	VT	No
157	Ball State University	318.00%	$13,920	$44,394	IN	Yes
157	Purdue University	318.00%	$34,944	$111,284	IN	Yes
158	The University of Texas at San Antonio	318.00%	$24,512	$78,000	TX	Yes
160	Missouri State University	313.00%	$17,250	$62,400	MO	Yes
161	The Citadel	310.00%	$25,200	$78,172	SC	Yes
161	Wright State University	310.00%	$23,400	$115,000	OH	Yes
163	Missouri University of Science and Technology	309.00%	$28,008	$86,800	MO	Yes
164	University of North Carolina at Charlotte	305.00%	$34,176	$104,303	NC	Yes
164	University at Buffalo	305.00%	$27,868	$85,000	NY	Yes
165	Universidad Ana G. Méndez Gurabo	305.00%	$15,000	$60,752	PR	No
167	North Carolina Central University	303.00%	$12,240	$48,300	NC	Yes
168	The University of North Carolina at Greensboro	302.00%	$27,500	$83,200	NC	Yes
169	The University of Tampa	301.00%	$26,070	$78,500	FL	No
170	Drake University	300.00%	$25,848	$79,500	IA	Yes
170	Minnesota State University Moorhead	300.00%	$28,313	$85,000	MN	Yes
171	University of South Carolina Aiken	300.00%	$13,948	$56,400	SC	Yes
172	University of Wisconsin-River Falls	300.00%	$23,970	$73,300	WI	Yes
173	Texas Woman's University	300.00%	$11,628	$79,925	TX	Yes
175	University of Central Missouri	299.00%	$17,655	$52,900	MO	Yes
176	University of North Carolina Wilmington	298.00%	$1,992,096	$74,200	NC	Yes
177	Auburn University	297.00%	$29,653	$88,322	AL	Yes
178	East Tennessee State University	295.00%	$22,000	$52,400	TN	Yes
178	Kutztown University of Pennsylvania	295.00%	$15,480	$45,699	PA	Yes
179	University of Hartford	295.00%	$32,004	$94,500	CT	Yes
181	The University of Akron	294.00%	$28,872	$85,000	OH	Yes
182	Eastern Michigan University	293.00%	$32,000	$94,000	MI	Yes
183	State University of New York at Oswego	290.00%	$22,860	$66,944	NY	Yes
183	Texas Wesleyan University	290.00%	$25,500	$75,769	TX	Yes
184	The University of Texas at El Paso	290.00%	$17,954	$52,900	TX	Yes
186	University of Dayton	289.00%	$33,300	$96,466	OH	Yes
186	The University of Michigan-Flint	289.00%	$32,730	$94,679	MI	Yes
188	Rockhurst University	287.00%	$24,150	$69,400	MO	Yes
189	Jackson State University	286.00%	$15,750	$55,900	MS	Yes
189	The University of Arizona	286.00%	$47,184	$135,000	AZ	Yes
190	University of Scranton	286.00%	$27,180	$78,000	PA	Yes
192	Northern Illinois University	285.00%	$39,000	$111,340	IL	Yes
192	University of Missouri-Kansas City	285.00%	$17,568	$50,167	MO	No
194	Saint Xavier University	284.00%	$22,500	$64,000	IL	No
194	University of Montevallo	284.00%	$13,590	$61,950	AL	Yes
196	University of Houston-Downtown	282.00%	$17,374	$49,120	TX	Yes
196	Western Connecticut State University	282.00%	$28,638	$80,850	CO	Yes
198	Mercer University-Macon and Atlanta Campuses	281.00%	$32,832	$92,500	GA	Yes
198	Northern Arizona University	281.00%	$19,505	$55,000	AZ	Yes
199	University of Pittsburgh	281.00%	$38,236	$107,793	PA	No
201	University of South Florida	280.00%	$33,446	$95,000	FL	Yes
202	Florida Southern College	278.00%	$30,420	$84,700	FL	Yes
203	University of Northern Iowa	277.00%	$18,344	$50,856	IA	No
203	St. Ambrose University	277.00%	$28,800	$79,957	IA	Yes
205	University of Minnesota	276.00%	$47,652	$131,972	MN	Yes
205	University of New Orleans	276.00%	$13,893	$38,410	LA	No
206	University of Tennessee at Chattanooga	276.00%	$29,700	$82,000	TN	No
208	California State University, San Bernardino	275.00%	$31,416	$86,596	CA	Yes
209	Stetson University	274.00%	$38,700	$106,178	FL	Yes
210	Black Hills State University	273.00%	$9,990	$52,650	SD	Yes
210	Midwestern State University	273.00%	$19,503	$52,872	TX	Yes
211	State University of New York College at Brockport	273.00%	$22,860	$55,950	NY	Yes
212	University of Arkansas	273.00%	$2,914,942	$79,589	AR	Yes
214	Florida International University	272.00%	$21,139	$57,511	FL	Yes
215	Marshall University	270.00%	$18,320	$49,500	WV	Yes
215	The University of Texas Rio Grande Valley	270.00%	$16,992	$65,600	TX	Yes
216	Utah Valley University	270.00%	$27,432	$75,700	UT	No
218	Boise State University	269.00%	$28,397	$76,444	ID	Yes
218	Clark Atlanta University	269.00%	$36,288	$97,659	GA	No
220	University of Southern Mississippi	264.00%	$19,080	$62,300	MS	No
220	Youngstown State University	264.00%	$14,190	$37,590	OH	Yes
222	Minnesota State University, Mankato	263.00%	$29,461	$77,720	MN	Yes
223	Louisiana State University	262.00%	$36,800	$96,677	LA	Yes
223	Marist College	262.00%	$33,120	$86,900	NY	Yes
224	Southeastern Louisiana University	262.00%	$13,245	$47,900	LA	Yes
225	The University of Michigan	262.00%	$76,152	$200,000	MI	Yes
227	Indiana University Southeast	261.00%	$8,100	$64,650	IN	Yes
228	Harvard University	260.00%	$78,700	$205,000	MA	No
228	Ramapo College of New Jersey	260.00%	$38,040	$99,100	NJ	Yes
229	South Carolina State University	260.00%	$16,560	$43,200	SC	No
230	The University of Alabama	260.00%	$29,194	$77,723	AL	Yes
231	Washburn University	260.00%	$19,590	$65,000	KS	No
232	William Paterson University	260.00%	$26,752	$70,500	NJ	Yes
234	Quinnipiac University	257.00%	$35,000	$90,000	CT	Yes
234	University of St. Thomas-Houston	257.00%	$34,200	$88,000	TX	No
236	Saint Joseph's University	255.00%	$44,640	$114,000	PA	Yes
237	Dominican University	253.00%	$26,670	$113,000	IL	Yes
237	Duke University	253.00%	$81,000	$205,000	NC	Yes
238	University of California, Berkeley	253.00%	$76,788	$194,740	CA	No
239	University of Kansas	253.00%	$35,280	$89,398	KS	Yes
240	University of Maine	253.00%	$22,500	$57,000	ME	Yes
241	The University of North Carolina at Chapel Hill	253.00%	$55,416	$140,490	NC	Yes
242	California State University, San Marcos	253.00%	$33,315	$84,450	CA	No
244	Oakland University	252.00%	$28,000	$70,800	MI	Yes
244	Stony Brook University	252.00%	$907,101	$73,500	NY	Yes
246	The University of North Dakota	251.00%	$18,391	$46,200	ND	Yes
247	Georgetown University	250.00%	$70,108	$181,854	DC	Yes
247	Saint Mary’,s College of California	250.00%	$46,404	$117,200	CA	Yes
248	Shenandoah University	250.00%	$29,520	$73,900	VA	No
249	University of Arkansas at Little Rock	250.00%	$11,584	$63,300	AR	Yes
251	Bellarmine University	245.00%	$30,600	$75,000	KY	No
252	College of William and Mary	244.00%	$31,911	$77,990	VA	Yes
253	Dartmouth College	243.00%	$84,250	$205,000	NH	No
254	St. Mary’s University, Greehey School of Business	242.00%	$34,980	$85,000	TX	No
254	University of Massachusetts Boston	242.00%	$30,672	$74,257	MA	Yes
255	University of South Alabama	242.00%	$15,150	$49,200	AL	Yes
257	East Carolina University	241.00%	$7,737	$61,600	NC	No
257	Southern Illinois University Carbondale	241.00%	$17,820	$43,087	IL	Yes
258	University of Louisiana at Monroe	241.00%	$20,089	$48,491	LA	Yes
260	Florida State University	240.00%	$41,520	$100,000	FL	Yes
260	Meredith College	240.00%	$32,835	$79,081	NC	No
261	State University of New York at New Paltz	240.00%	$22,860	$55,100	NY	Yes
262	Texas State University	240.00%	$23,365	$56,734	TX	No
264	University of Colorado Colorado Springs	239.00%	$29,700	$71,000	CO	Yes
265	Utah State University	236.00%	$36,000	$85,000	UT	Yes
266	University of California, Irvine	235.00%	$67,070	$158,000	CA	No
266	The University of Chicago	235.00%	$87,354	$206,000	IL	No
268	Texas A&M University-Corpus Christi	233.00%	$4,884	$60,000	TX	Yes
269	Carnegie Mellon University	232.00%	$81,340	$189,275	PA	Yes
270	Grand Valley State University	230.00%	$51,960	$119,966	MI	No
270	Indiana University Bloomington/Indianapolis	230.00%	$57,984	$135,742	IN	Yes
271	Seattle Pacific University	230.00%	$36,675	$86,100	WA	Yes
272	University of Houston-Clear Lake	230.00%	$9,902	$68,900	TX	Yes
274	University of Alaska Fairbanks	229.00%	$22,470	$89,474	AK	Yes
275	California State University, Fresno	228.00%	$26,550	$88,500	CA	No
276	New York Institute of Technology	227.00%	$55,440	$126,068	NY	Yes
276	University of Wisconsin-Eau Claire	227.00%	$30,600	$69,747	WI	Yes
278	Rider University	225.00%	$39,960	$90,264	NJ	Yes
279	Columbia University	224.00%	$91,172	$205,000	NY	No
279	University of Dallas	224.00%	$46,800	$105,000	TX	Yes
281	Boston College	223.00%	$61,584	$137,500	MA	No
281	San Diego State University	223.00%	$41,355	$92,454	CA	Yes
282	Union University	223.00%	$26,028	$84,000	TN	Yes
284	University of Oregon	222.00%	$35,647	$79,317	OR	No
285	Colorado State University	220.00%	$42,430	$94,300	CO	Yes
285	Massachusetts Institute of Technology	220.00%	$89,000	$199,370	MA	No
286	Queens University of Charlotte	220.00%	$39,090	$88,100	NC	Yes
287	University of California, Los Angeles	220.00%	$78,350	$172,800	CA	No
288	University of Rochester	220.00%	$62,666	$138,300	NY	Yes
289	University of Wisconsin-Stevens Point	220.00%	$26,100	$58,350	WI	No
290	The State University of New York Polytechnic Institute	220.00%	$30,480	$69,100	NY	Yes
291	Dominican University of California	220.00%	$40,356	$113,000	CA	Yes
293	American University	219.00%	$49,220	$108,000	DC	Yes
294	Butler University	218.00%	$38,500	$84,000	IN	Yes
294	Stanford University	218.00%	$85,755	$187,504	CA	No
295	University of Louisville	218.00%	$38,500	$84,000	KY	Yes
296	Southern Connecticut State University	218.00%	$38,500	$84,000	CT	Yes
298	The Pennsylvania State University at Harrisburg	217.00%	$31,710	$101,400	PA	Yes
299	University of Baltimore	216.00%	$35,802	$77,400	MD	Yes
299	The University of Michigan-Dearborn	216.00%	$38,396	$83,125	MI	Yes
300	Yale University	216.00%	$87,800	$190,000	CT	No
302	Case Western Reserve University	215.00%	$58,000	$125,000	OH	No
303	Georgia College & State University	213.00%	$19,800	$71,800	GA	Yes
304	University of Toledo	212.00%	$1,012	$73,300	OH	Yes
305	Murray State University	211.00%	$18,180	$38,473	KY	Yes
305	Texas A&M University	211.00%	$63,000	$133,075	TX	No
306	University of North Texas	211.00%	$40,600	$86,000	TX	Yes
307	Western New England University	211.00%	$36,000	$76,300	MA	Yes
309	California Polytechnic State University, San Luis Obispo	210.00%	$37,080	$78,000	CA	No
309	Lander University	210.00%	$16,350	$50,700	SC	Yes
311	University of Minnesota Duluth	209.00%	$33,824	$70,733	MN	No
312	Iowa State University	207.00%	$40,512	$83,986	IA	Yes
312	North Dakota State University	207.00%	$35,400	$73,500	ND	Yes
314	Fairfield University	206.00%	$36,360	$75,000	CT	Yes
314	University of Washington Tacoma	206.00%	$68,224	$151,322	WA	No
316	Eastern Washington University	205.00%	$18,040	$50,300	WA	Yes
316	Northeastern Illinois University	205.00%	$157,542	$74,350	IL	Yes
318	Southern Methodist University	204.00%	$63,084	$129,150	TX	Yes
319	Georgia Institute of Technology	201.00%	$74,500	$150,246	GA	No
319	New York University	201.00%	$86,916	$175,000	NY	No
320	Vanderbilt University	201.00%	$74,500	$150,246	TN	No
322	California State Polytechnic University Pomona	200.00%	$15,216	$89,440	CA	No
322	Northeastern University	200.00%	$64,570	$135,000	MA	Yes
323	Robert Morris University	200.00%	$33,150	$67,000	PA	Yes
324	University of Connecticut	200.00%	$50,400	$101,501	CT	Yes
325	University of Wisconsin Oshkosh	200.00%	$25,740	$87,400	WI	Yes
327	Washington State University	199.00%	$32,328	$96,500	WA	Yes
328	University of Pennsylvania	198.00%	$87,970	$175,000	PA	No
329	Rice University	197.00%	$76,073	$150,000	TX	Yes
329	Wayne State University	197.00%	$46,020	$90,947	MI	Yes
331	California State University, Stanislaus	196.00%	$27,600	$73,800	CA	Yes
331	Delaware State University	196.00%	$16,500	$46,300	DE	Yes
332	Northwestern University	196.00%	$86,370	$170,000	IL	No
334	Georgia State University	195.00%	$44,750	$87,439	GA	Yes
335	Fordham University	194.00%	$63,800	$124,000	NY	Yes
335	George Mason University	194.00%	$53,064	$103,100	VA	Yes
337	Central Michigan University	193.00%	$32,472	$62,900	MI	Yes
338	College of Charleston	192.00%	$38,880	$75,008	SC	Yes
338	Kansas State University	192.00%	$28,612	$55,000	KS	Yes
339	University of Illinois at Urbana-Champaign	192.00%	$26,136	$98,500	IL	Yes
341	University of California, Davis	191.00%	$51,297	$98,000	CA	Yes
342	Creighton University	190.00%	$33,000	$65,000	NE	Yes
342	Nichols College	190.00%	$28,440	$55,392	MA	Yes
344	Oregon State University	189.00%	$41,355	$78,333	OR	Yes
345	Florida Atlantic University	187.00%	$32,000	$60,000	FL	Yes
345	University of North Alabama	187.00%	$20,400	$38,295	AL	Yes
346	Salem State University	187.00%	$16,236	$60,150	MA	Yes
347	Kean University	187.00%	$33,451	$62,769	NJ	Yes
349	Bryant University	186.00%	$47,151	$87,857	RI	Yes
349	University of Colorado Denver	186.00%	$58,000	$108,246	CO	Yes
350	The University of Memphis	186.00%	$24,552	$45,882	TN	Yes
351	Lawrence Technological University	186.00%	$47,400	$88,600	MI	Yes
353	University of California, San Diego	185.00%	$68,000	$126,000	CA	No
353	Washington University in St. Louis	185.00%	$70,250	$130,000	MO	Yes
354	Xavier University	185.00%	$36,738	$68,000	OH	Yes
356	Coastal Carolina University	184.00%	$34,380	$52,500	SC	Yes
357	Drury University	183.00%	$23,760	$43,520	MO	Yes
357	Portland State University	183.00%	$41,974	$76,825	OR	Yes
358	Saint Louis University	183.00%	$41,974	$76,825	MO	No
359	Valparaiso University	183.00%	$30,000	$55,000	IN	Yes
361	San Jose State University	182.00%	$42,462	$77,500	CA	Yes
362	Hofstra University	180.00%	$64,800	$120,000	NY	Yes
362	University of Southern California	180.00%	$79,893	$144,442	CA	Yes
363	Palm Beach Atlantic University	180.00%	$30,600	$57,500	FL	No
365	Brandeis University	179.00%	$61,117	$109,403	MA	No
365	The College of New Jersey	179.00%	$5,389,552	$96,987	NJ	No
367	Rowan University	177.00%	$41,400	$73,500	NJ	Yes
367	Suffolk University	177.00%	$67,464	$120,000	MA	Yes
368	University of Notre Dame	177.00%	$73,260	$130,000	IN	No
370	Lehigh University	176.00%	$61,740	$109,000	PA	No
371	Adelphi University	175.00%	$37,080	$65,000	NY	Yes
372	The George Washington University	174.00%	$67,800	$118,000	DC	No
373	Tulane University	173.00%	$75,000	$130,000	LA	Yes
374	Arizona State University	170.00%	$63,000	$107,220	AZ	Yes
374	Bentley University	170.00%	$50,310	$85,643	MA	No
375	North Carolina State University	170.00%	$57,119	$101,841	NC	Yes
376	San Francisco State University	170.00%	$45,000	$76,600	CA	No
377	University of Colorado at Boulder	170.00%	$63,089	$108,510	CO	Yes
378	University of Virginia-McIntire	170.00%	$47,850	$84,651	VA	No
379	New Jersey City University	170.00%	$32,297	$55,800	NJ	No
380	University of Oklahoma	170.00%	$3,330,624	$56,949	OK	Yes
382	Boston University	169.00%	$69,870	$118,566	MA	Yes
383	Cleveland State University	168.00%	$32,610	$55,000	OH	Yes
383	Francis Marion University	168.00%	$15,900	$42,600	SC	Yes
385	University of Delaware	166.00%	$49,104	$82,000	DE	Yes
386	Loyola University Maryland	165.00%	$45,045	$74,739	MD	No
386	St. Edward’s University, The Bill Munday School of Business	165.00%	$44,712	$74,200	TX	Yes
388	Rutgers-The State University of New Jersey-Newark/New Brunswick	162.00%	$63,602	$103,278	NJ	Yes
388	University of Houston-Victoria	162.00%	$27,551	$44,888	TX	Yes
389	University of New Hampshire	162.00%	$38,400	$62,500	NH	Yes
391	Howard University	161.00%	$78,820	$127,223	DC	No
391	Ohio University	161.00%	$37,240	$60,188	OH	Yes
393	Fairleigh Dickinson University	160.00%	$49,708	$81,900	NJ	Yes
393	Providence College	160.00%	$38,340	$63,200	RI	No
394	Samford University	160.00%	$35,460	$58,400	AL	Yes
395	St. Bonaventure University	160.00%	$35,490	$59,900	NY	Yes
397	Babson College	159.00%	$89,550	$142,871	MA	Yes
397	Rensselaer Polytechnic Institute	159.00%	$64,400	$103,000	NY	Yes
398	University of Houston	159.00%	$56,000	$89,273	TX	Yes
400	Bloomsburg University of Pennsylvania	158.00%	$35,856	$56,773	PA	No
401	St. John Fisher University	157.00%	$39,030	$61,595	NY	Yes
402	Berry College	156.00%	$20,000	$53,850	GA	No
402	Clemson University	156.00%	$43,757	$68,380	SC	Yes
404	Barry University	155.00%	$37,800	$58,957	FL	Yes
404	West Virginia University	155.00%	$24,273	$65,000	WV	Yes
405	Winthrop University	155.00%	$23,400	$60,000	SC	Yes
407	University of Miami	153.00%	$121,980	$187,504	FL	Yes
408	Lipscomb University	152.00%	$39,960	$61,060	TN	No
409	California State University, Northridge	151.00%	$30,897	$77,400	CA	No
409	Duquesne University	151.00%	$52,704	$80,000	PA	Yes
410	University of Hawaii at Manoa	151.00%	$42,576	$64,591	HI	No
411	Ashland University	151.00%	$34,650	$76,001	OH	Yes
413	Iona University	150.00%	$47,034	$70,955	NY	Yes
413	Roger Williams University	150.00%	$42,336	$66,450	RI	No
415	Seaver College	149.00%	$80,415	$120,000	CA	Yes
416	Northern Michigan University	147.00%	$25,800	$54,500	MI	Yes
417	University of California, Riverside	143.00%	$61,488	$88,000	CA	No
417	University of the Pacific	143.00%	$47,664	$68,200	CA	Yes
419	University of Missouri-St. Louis	141.00%	$40,350	$57,200	MO	Yes
420	Prairie View A&,M University	140.00%	$42,012	$60,500	TX	No
420	Rutgers-The State University of New Jersey-Camden	140.00%	$55,146	$113,372	NJ	Yes
422	Canisius University	139.00%	$44,850	$62,500	NY	Yes
423	Siena College	137.00%	$53,424	$81,000	NY	No
423	Texas Tech University	137.00%	$35,647	$66,717	TX	Yes
425	Virginia State University	136.00%	$22,644	$58,900	VA	No
426	The Pennsylvania State University	135.00%	$84,576	$115,000	PA	Yes
427	Santa Clara University	134.00%	$96,670	$129,880	CA	Yes
427	Stockton University	134.00%	$35,568	$47,700	NJ	No
429	Clarkson University	131.00%	$59,800	$78,419	NY	Yes
430	Governors State University	130.00%	$39,798	$52,811	IL	Yes
430	Pace University	130.00%	$60,840	$79,774	NY	Yes
431	University of Washington Bothell	130.00%	$28,410	$120,800	WA	No
432	Villanova University	130.00%	$64,800	$84,880	PA	Yes
433	David B. O’,Maley College of Business	130.00%	$60,720	$79,400	FL	Yes
435	Stevens Institute of Technology	129.00%	$68,820	$89,437	NJ	Yes
436	The University of New Mexico	128.00%	$3,496,158	$61,000	NM	Yes
437	Pacific Lutheran University	127.00%	$51,588	$65,700	WA	Yes
438	Baylor University	123.00%	$63,620	$78,808	TX	Yes
438	Drexel University	123.00%	$55,145	$68,333	PA	Yes
440	DePaul University	120.00%	$71,520	$86,000	IL	Yes
440	The Pennsylvania State University at Erie	120.00%	$61,104	$73,500	PA	Yes
441	University of Maryland	120.00%	$95,013	$120,446	MD	Yes
442	University of Northern Colorado	120.00%	$26,262	$34,100	CO	Yes
444	Auburn University at Montgomery	119.00%	$14,490	$62,700	AL	Yes
444	Indiana University of Pennsylvania	119.00%	$15,000	$63,600	PA	No
445	Ithaca College	119.00%	$61,344	$70,300	NY	No
446	University of Detroit Mercy	119.00%	$56,100	$67,000	MI	Yes
448	Sacred Heart University	118.00%	$35,460	$78,300	CT	No
449	Rochester Institute of Technology	117.00%	$61,762	$72,300	NY	Yes
450	Illinois Institute of Technology	116.00%	$66,636	$77,683	IL	Yes
451	Yeshiva University	114.00%	$50,988	$113,214	NY	Yes
452	St. John's University (Tobin)	113.00%	$59,580	$67,433	NY	Yes
452	Willamette University	113.00%	$51,640	$58,614	OR	No
454	Widener University	112.00%	$41,880	$76,600	NJ	Yes
455	Southern University and A&M College, College of Business	110.00%	$24,300	$51,000	LA	Yes
455	Hult International Business School	110.00%	$89,500	$102,928	MA	Yes
457	Alfred University	109.00%	$44,860	$49,074	NY	Yes
457	Syracuse University	109.00%	$105,030	$114,812	NY	Yes
458	University of Richmond	109.00%	$72,000	$78,553	VA	No
460	University of Wisconsin-Milwaukee	107.00%	$24,000	$67,900	WI	Yes
460	Western Washington University	107.00%	$42,160	$45,272	WA	No
462	Colorado State University-Pueblo	105.00%	$20,700	$49,500	CO	Yes
462	University of San Francisco	105.00%	$86,400	$90,754	CA	Yes
463	Nova Southeastern University	105.00%	$40,663	$90,756	FL	Yes
465	Worcester Polytechnic Institute	104.00%	$45,000	$119,061	MA	Yes
466	University of Denver	101.00%	$96,000	$97,229	CO	Yes
467	University of Missouri	100.00%	$49,612	$83,500	MO	Yes
468	Elon University	96.00%	$41,316	$82,600	NC	No
469	Cornell University	94.00%	$173,192	$161,967	NY	No
470	University of San Diego	89.00%	$77,625	$68,860	CA	Yes
471	Whitworth University	85.00%	$36,900	$64,050	WA	Yes
472	Claremont Graduate University	84.00%	$96,960	$81,450	CA	No
473	Chapman University	83.00%	$103,750	$86,572	CA	No
473	Texas Christian University	83.00%	$136,140	$113,000	TX	Yes
475	Johns Hopkins Carey Business School	82.00%	$144,000	$118,758	MD	Yes
475	Marquette University	82.00%	$144,000	$118,758	WI	Yes
477	Fayetteville State University	79.00%	$8,064	$54,300	NC	Yes
478	Emory University	78.00%	$153,800	$121,380	GA	No
479	Michigan Technological University	74.00%	$23,340	$85,950	MI	No
480	Le Moyne College	70.00%	$33,336	$61,100	NY	No
481	Rollins College	68.00%	$87,944	$60,100	FL	No
482	Seattle University	64.00%	$56,268	$87,000	WA	Yes
482	University of Louisiana at Lafayette	64.00%	$54,021	$51,200	LA	Yes
484	University of New Haven	62.00%	$28,968	$64,600	CT	Yes
484	The University of Tulsa	62.00%	$54,538	$83,700	OK	Yes
486	Bradley University	61.00%	$34,287	$57,450	IL	No
487	California State University, Long Beach	58.00%	$35,000	$71,833	CA	Yes
488	New Jersey Institute of Technology	49.00%	$61,536	$99,501	NJ	Yes
489	Loyola University New Orleans	46.00%	$35,568	$55,290	LA	Yes
490	Clark University	36.00%	$198,000	$72,067	MA	Yes
490	Manhattan College	36.00%	$47,700	$66,575	NY	Yes
491	Seton Hall University	36.00%	$58,600	$78,081	NJ	Yes
493	Millsaps College	30.00%	$21,900	$46,750	MS	Yes
494	University of Portland	25.00%	$58,500	$73,500	OR	No
495	Long Island University-Post Campus	23.00%	$50,220	$65,600	NY	Yes
496	James Madison University	22.00%	$24,066	$101,349	VA	Yes
497	Loyola University Chicago	21.00%	$58,680	$89,000	IL	No
498	Belmont University	19.00%	$32,175	$82,200	TN	No
499	Loyola Marymount University	1.00%	$1,802	$89,900	CA	No

For example, the top rated MBA program is Tennessee State University with an with an average in-state tuition of $9,452, an average startling salary for gradates of $107,108, giving an ROI of 1,033%.

When evaluating ROI for MBA programs, you might want to consider their location and length. Programs located in large cities usually come with higher tuition and living costs while shorter programs can get you out into the job market faster. You should also consider the school’s ranking as this can affect your chances of getting accepted into a top notch program.

Overall, when choosing an MBA program it is important to understand the costs involved as well as the potential return on your investment. By comparing tuition and expected salaries of various programs, you can make an informed decision that will help you achieve your career goals.

Tips for Using ROI as a Method for Choosing an MBA Program

for Using ROI as a Method for Choosing an MBA Program

The ROI analysis of 458 MBA programs reveals striking patterns that challenge conventional wisdom about business school selection. This comprehensive data shows that program prestige and cost don’t necessarily correlate with the best financial returns.

Understanding ROI Dynamics

The relationship between MBA program investment and returns follows a distinctive pattern that contradicts common assumptions. Lesser-known state universities consistently deliver the highest ROI (500-567%), while prestigious private institutions often show lower returns (-40-50%). This creates a clear bell curve distribution where the national average sits at 186%, with extreme variations at both ends. The data demonstrates that premium pricing doesn’t guarantee premium returns, and affordable programs often provide superior financial outcomes.

Program Value Assessment
State universities consistently outperform on ROI metrics, with online programs averaging 186% ROI versus 196% for campus programs. Regional schools frequently provide better financial returns than prestigious institutions, challenging the traditional notion that elite programs are the best investment.

Strategic Evaluation Framework

Making an informed MBA program choice requires careful consideration of multiple financial factors beyond just tuition costs. A comprehensive evaluation must include all program-related expenses and potential returns.

Financial Metrics
The total investment calculation must consider:

• Program tuition and fees
• Living expenses for program duration
• Opportunity cost of lost wages
• Expected starting salary post-graduation
• Geographic salary variations
• Industry-specific compensation trends

Making the ROI Decision

The ROI calculation provides a clear metric for comparing programs:

$ latex \displaystyle ROI = \frac{(\text{Graduate Salary} – \text{Tuition})}{\text{Tuition}} \times 100\% $

This formula reveals surprising results when comparing institutions. For example, Texas A&M University-Texarkana has an average graduate ROI 1,139% while Rochester Institute of Technology has an average graduate ROI of -40%.

Beyond ROI Considerations

While ROI provides a crucial metric, other factors contribute to the long-term value of an MBA program. Career alignment factors include:

• Industry placement rates in desired sectors
• Geographic job market strength in target locations
• Alumni network reach and effectiveness
• Program specialization options matching career goals
• Employer relationships and recruitment patterns

The data conclusively shows that the highest ROI programs often come from unexpected sources, suggesting that prospective students should look beyond traditional rankings and focus on programs offering optimal financial returns while aligning with their career objectives and long-term professional growth plans.

As you evaluate the return on investment for MBA programs, also look at school rankings. Top business schools such as Harvard Business School, Stanford Graduate School of Business, and University of Pennsylvania’s Wharton School produce graduates with high salaries and ROI.

Each school has its own unique offerings and benefits that can help you make a decision on which school to attend. It is important to research each school’s curriculum and offerings to ensure that it fits with your career aspirations. Additionally, it is important to look at the average starting salary that graduates receive after completing the program. This can help you determine how much you will be able to earn after graduation.

When making a decision about which MBA program is best for you, it is important to evaluate the cost and ROI for each program. Make sure that you compare each school’s tuition fees with the average salary for MBA graduates from that particular school. This will help you determine if you can make a good return on your investment.

Online vs. Campus MBA ROI Comparison

Financial Returns

• Online MBA average ROI: 186%
• Campus MBA average ROI: 196%
• Online programs often deliver better financial returns due to continued employment

Cost Structure

Factor	Online MBA	Campus MBA
Tuition	Lower	Higher
Living Expenses	None	Significant
Opportunity Cost	Minimal	High (lost wages)
Total Investment	$10,000-40,000	$120,000-180,000

Career Impact

• Online programs allow immediate application of skills in current role
• Campus programs offer stronger in-person networking
• Both formats show similar post-graduation salary potential ($115,000 average)

Key Advantages

Online MBA Benefits

• Continue earning while studying
• No relocation costs
• Flexible schedule
• Lower total program cost
• Higher average ROI

Campus MBA Benefits

• Stronger in-person networking
• Traditional recruiting opportunities
• Full immersion experience
• Direct peer interaction
• Immediate access to faculty

The data demonstrates that online MBA programs often provide superior ROI due to lower costs and the ability to maintain employment during study, though both formats can deliver strong career outcomes when aligned with individual goals and circumstances.