Template – 100 Best Finance MBA Programs for 2024

Top 10 MBA Program in Finance – ROI, Salary, Tuition

100 Best Finance MBA Programs Table: ROI, Salary, Tuition

Easily sort the table below by Rank, School Name, ROI, Tuition, Average Starting Salary, and State to find and to compare programs. Click on any school for a comprehensive review.

Rank	University	ROI	In State Tuition	Avg. Starting Salary	State	Online
1	The University of Texas at Dallas	243.00%	$45,000	$123,163	TX	Yes
2	Indiana University Bloomington/Indianapolis	124.00%	$29,573	$136,352	IN	Yes
3	Harvard University	17.00%	$149,820	$175,000	MA	No
4	University of Washington	97.00%	$76,890	$151,322	WA	No
5	University of Wisconsin-Madison	114.00%	$55,575	$118,983	WI	Yes
6	Northwestern University	8.00%	$162,030	$175,000	IL	No
7	The University of North Carolina at Chapel Hill	33.00%	$100,218	$133,517	NC	Yes
8	Brigham Young University	104.00%	$58,544	$119,281	UT	No
9	Michigan State University	246.00%	$34,564	$119,539	MI	Yes
10	The University of Georgia	294.00%	$30,606	$120,510	GA	Yes
11	University of South Carolina	269.00%	$26,485	$97,819	SC	No
12	University of Massachusetts Boston	537.00%	$19,499	$124,277	MA	Yes
13	University of Virginia-McIntire	4.00%	$151,200	$157,090	VA	No
14	Emory University	-1.00%	$151,689	$149,759	GA	No
15	The University of Texas at Austin	20.00%	$120,432	$144,564	TX	No
16	Southern Methodist University	27.00%	$96,788	$122,609	TX	Yes
17	University of Southern California	-3.00%	$154,339	$150,314	CA	Yes
18	Georgetown University	11.00%	$124,814	$138,552	DC	Yes
19	The University of Iowa	381.00%	$23,453	$112,820	IA	No
20	Stanford University	10.00%	$165,591	$182,272	CA	No
21	University of California, Berkeley	9.00%	$139,628	$152,831	CA	No
22	University of St. Thomas-Minnesota	67.00%	$61,596	$102,900	MN	Yes
23	New York University	1.00%	$160,130	$161,475	NY	No
24	University of Pennsylvania	-7.00%	$179,852	$166,391	PA	No
25	University of Maryland	22.00%	$98,865	$121,103	MD	Yes
26	University of California, Los Angeles	3.00%	$142,142	$146,727	CA	No
27	The University of Chicago	-1.00%	$167,393	$165,887	IL	No
28	University of Florida	343.00%	$26,473	$117,197	FL	Yes
29	Carnegie Mellon University	-0	$147,456	$148,067	PA	Yes
30	Yale University	-1.00%	$153,540	$152,744	CT	No
31	University of Minnesota	36.00%	$89,402	$121,882	MN	Yes
32	The Pennsylvania State University	87.00%	$61,236	$114,483	PA	Yes
33	University of Illinois at Chicago	179.00%	$60,264	$167,977	IL	Yes
34	American University	8.00%	$98,282	$105,666	DC	Yes
35	Massachusetts Institute of Technology	-3.00%	$164,000	$159,391	MA	No
36	The George Washington University	3.00%	$113,090	$115,951	DC	No
37	Boston University	-3.00%	$124,248	$120,884	MA	Yes
38	Fordham University	28.00%	$99,497	$127,511	NY	Yes
39	University of Hartford	213.00%	$30,168	$94,500	CT	Yes
40	Vanderbilt University	7.00%	$131,000	$139,711	TN	No
41	Texas A&M University	86.00%	$62,000	$115,585	TX	No
42	University of Notre Dame	8.00%	$123,500	$133,018	IN	No
43	Rice University	2.00%	$139,081	$142,212	TX	Yes
44	New Jersey Institute of Technology	49.00%	$66,576	$99,501	NJ	Yes
45	University of Tennessee at Knoxville	161.00%	$38,875	$101,400	TN	Yes
46	Northeastern University	-2.00%	$102,582	$100,063	MA	Yes
47	Washington University in St. Louis	-12.00%	$134,020	$117,687	MO	Yes
48	Arizona State University	106.00%	$60,393	$124,664	AZ	Yes
49	University of California, Davis	14.00%	$95,438	$109,075	CA	Yes
50	University of Utah	77.00%	$65,700	$116,348	UT	Yes
51	University of California, Irvine	26.00%	$97,342	$122,899	CA	No
52	University of Rochester	23.00%	$108,038	$132,671	NY	Yes
53	Baruch College-The City University of New York	218.00%	$37,338	$118,633	NY	Yes
54	University of Massachusetts Amherst	231.00%	$33,622	$111,227	MA	Yes
55	Santa Clara University	45.00%	$83,860	$122,000	CA	Yes
56	Temple University	60.00%	$60,000	$95,989	PA	Yes
57	University of Cincinnati	263.00%	$23,996	$87,013	OH	Yes
58	Case Western Reserve University	4.00%	$92,040	$95,875	OH	No
59	University of Delaware	105.00%	$39,954	$82,000	DE	Yes
60	Rutgers-The State University of New Jersey-Newark/New Brunswick	95.00%	$58,442	$113,800	NJ	Yes
61	Babson College	21.00%	$89,550	$108,703	MA	Yes
62	Lehigh University	39.00%	$68,900	$95,699	PA	No
63	Georgia State University	156.00%	$36,522	$93,600	GA	Yes
64	The Ohio State University	1.00%	$106,123	$106,779	OH	Yes
65	University of California, San Diego	-2.00%	$106,246	$103,969	CA	No
66	Brandeis University	-9.00%	$120,223	$109,000	MA	No
67	University of Colorado at Boulder	67.00%	$55,997	$93,401	CO	Yes
68	The University of Arizona	96.00%	$54,785	$107,345	AZ	Yes
69	Indiana State University	332.00%	$19,000	$82,000	IN	Yes
70	The University of Memphis	216.00%	$23,688	$74,800	TN	Yes
71	University of Pittsburgh	51.00%	$68,348	$102,965	PA	No
72	Boston College	-1.00%	$118,336	$116,815	MA	No
73	Villanova University	95.00%	$60,000	$116,800	PA	Yes
74	The Pennsylvania State University Great Valley	200.00%	$42,316	$127,000	PA	Yes
75	Texas Christian University	-7.00%	$115,380	$107,543	TX	Yes
76	University of Illinois at Urbana-Champaign	192.00%	$33,772	$98,500	IL	Yes
77	Stevens Institute of Technology	4.00%	$81,880	$85,398	NJ	Yes
78	Hofstra University	87.00%	$58,960	$110,500	NY	Yes
79	George Mason University	192.00%	$37,737	$110,100	VA	Yes
80	University of Miami	19.00%	$92,290	$109,555	FL	Yes
81	Middle Tennessee State University	233.00%	$26,712	$89,000	TN	Yes
82	Xavier University	158.00%	$34,200	$88,100	OH	Yes
83	Queens University of Charlotte	110.00%	$41,940	$88,100	NC	Yes
84	University of Nevada, Las Vegas	331.00%	$21,784	$93,820	NV	Yes
85	University of Houston	83.00%	$47,000	$85,878	TX	Yes
86	Baylor University	-8.00%	$85,692	$79,176	TX	Yes
87	Johns Hopkins Carey Business School	-4.00%	$133,000	$127,044	MD	Yes
88	Purdue University	110.00%	$44,816	$94,000	IN	Yes
89	University of Nebraska-Lincoln	185.00%	$32,400	$92,300	NE	Yes
90	Oregon State University	46.00%	$52,090	$75,900	OR	Yes
91	Miami University	-32.00%	$136,342	$92,700	OH	Yes
92	Purdue University Northwest	605.00%	$12,350	$87,100	IN	No
93	The University of Michigan-Dearborn	83.00%	$50,997	$93,200	MI	Yes
94	Loyola University Chicago	21.00%	$73,375	$89,000	IL	No
95	The Citadel	435.00%	$21,830	$116,700	SC	Yes
96	University of Oklahoma	170.00%	$3,330,624	$56,949	OK	Yes
97	College of William and Mary	167.00%	$42,000	$112,000	VA	Yes
98	University of San Diego	46.00%	$69,610	$101,333	CA	Yes
99	University of San Francisco	4.00%	$79,200	$82,500	CA	Yes
100	Clemson University	83.00%	$43,088	$78,767	SC	Yes

What is an MBA in Finance?

An MBA in Finance is a graduate business degree that combines advanced financial coursework with general management and leadership skills. The curriculum covers in-depth topics such as corporate finance, investments, financial markets, and risk management, while also including core MBA courses in areas like strategy, operations, marketing, and organizational behavior. This well-rounded education provides a managerial perspective on finance and prepares graduates for leadership positions that require both financial expertise and the ability to manage teams and drive strategic decisions.

Pursuing an MBA in Finance can accelerate advancement into roles such as CFO, corporate finance manager, senior financial analyst, and investment banking executive. The degree elevates credibility and marketability as a finance professional, as employers highly value the skills gained in MBA programs.

Difference Between an MBA in Finance and a Master’s in Finance

The MBA is a broader degree and generally addresses the for-profit, corporate or entrepreneurial arena comprising of multiple aspects of business. A Master of Finance program focuses more specifically on the finances of the company. Your personal career goals should determine which type of program would most benefit you.

Obtaining an MBA degree is an important step to land above an entry level job in most companies. MBA coursework teaches a wide spectrum of topics with emphasis on how to manage within each segment of a company such as development, accounting, human resources, and operations. MBA programs prepare students for management positions in many industries.

The Masters of Finance is targeted to students seeking to focus on finance related fields or obtaining higher level financial stewardship within a larger organization. Programs review finance concepts in a more comprehensive manner, with courses in higher level mathematics, quantitative finance, investing, financial markets, financial analysis, statement generation and reporting, and stock valuation. Master of Finance programs tend to be shorter in duration, usually last one full-time year of study.

Key Highlights for Finance MBA Programs

Compare Online Finance MBA Program Averages to Campus Averages

When comparing online and campus-based Finance MBA programs, prospective b-students should consider many factors. Online programs offer lower average tuition costs ($51,354 vs : $51,354.13) and better average graduate ROI (177% vs 177%), while campus programs have slightly higher average graduate salaries ($83,879 vs $83,879). Both program types have comparable GMAT scores, full-time faculty numbers, and student-faculty ratios, indicating similar academic rigor and support.

Averages	Online Finance MBA Programs	Campus Finance MBA Programs
Average MBA Tuition	$48,709	: $51,354.13
Average Graduate Salary	$80,646	$83,879
Average Graduate ROI	189%	177%
Average GMAT Scores	564	570
Average Full-Time MBA Faculty	74	74
Average MBA Student Faculty Ratio	: 17:1	17:1

Read about our ranking methodology.

What is the Average Salary for MBA Finance Graduates?

The average graduate salary range for MBA in Finance graduates is quite wide. At the lower end, University of New Orleans reports an average starting salary of just $38,410 for its MBA in Finance graduates. On the other hand, Stanford University boasts the highest average starting salary at an impressive $182,272.

The average starting pay across all finance MBA programs hovering around $83,879.

This substantial difference in starting salaries is due to a number of factors including reputation and ranking of the business school, the strength of its alumni network, the cost of living in the state and region, and the industries and locations where graduates find employment. Prospective b-students can research career outcomes and salary data of their target MBA programs to get a clearer picture the earning potential post-graduation.

While a high average starting salary is undoubtedly attractive, the savvy b-student will consider other factors like tuition costs, financial aid, and the overall return on investment when choosing an MBA in Finance program.

Average Salaries for Finance MBA Graduates

• Average: $83,879 from 511 Finance MBA Programs
• Lowest: $38,410 from University of New Orleans
• Highest: $182,272 from Stanford University

Average Finance MBA Graduate Salary by State

1. District of Columbia - $115,801
2. New Hampshire - $106,599
3. Arizona - $105,568
4. Massachusetts - $101,089
5. Virginia - $98,146
6. California - $95,449
7. Illinois - $95,379
8. Pennsylvania - $94,343
9. Minnesota - $93,599
10. Wyoming - $93,010
11. Michigan - $90,709
12. Nevada - $90,106
13. Colorado - $89,541
14. Utah - $89,374
15. Washington - $89,048
16. Maine - $87,535
17. Wisconsin - $86,765
18. Maryland - $85,999
19. Georgia - $85,770
20. Tennessee - $85,578
21. Indiana - $84,485
22. Iowa - $83,683
23. New York - $83,567
24. New Jersey - $83,108
25. Texas - $83,079
26. Montana - $82,570
27. Connecticut - $82,172
28. Nebraska - $81,660
29. Hawaii - $80,400
30. Alaska - $80,241
31. Ohio - $79,246
32. Florida - $78,172
33. North Carolina - $77,447
34. Oregon - $76,638
35. Rhode Island - $75,845
36. Missouri - $74,419
37. Oklahoma - $74,074
38. Idaho - $72,374
39. South Carolina - $70,814
40. New Mexico - $70,722
41. Kentucky - $68,432
42. Arkansas - $67,445
43. Alabama - $67,290
44. Mississippi - $66,351
45. Vermont - $66,000
46. Delaware - $65,956
47. Kansas - $65,620
48. West Virginia - $63,514
49. - $60,400
50. Louisiana - $55,477
51. North Dakota - $50,938
52. South Dakota - $48,925

What is the Average Tuition for Finance MBA Programs?

Investing in your future with a finance MBA can be a very smart decision. On average, you can expect to pay $51,354.13 for a finance MBA program. However, tuition rates can vary significantly, with the most expensive programs costing up to $3,330,624.00 and the most affordable options starting at $7,458.00.

When comparing in-state and out-of-state tuition for MBA programs in Finance, you’ll find that in-state students pay an average of $51,354, while out-of-state students face an average tuition of $69,687. With such a wide range of tuition costs, spanning from $7,458.00 to $3,330,624, it’s essential to carefully consider your options. Factors that impact tuition rates include your enrollment status, the program type, and whether you attend a private college or public institution. Choosing a highly respected program could provide better value for your money than opting for an out-of-state school.

The ROI of an online MBA program is often more favorable than traditional programs, as students can continue working while studying. According to a 2017 US News survey, the average salary for students three months after graduating from an online MBA program was $96,974, a 22% increase from the average entering salary. The highest average salary increases for online programs hover around 60%. With the right program choice and financial planning, an online finance MBA can be a worthwhile investment in your future, leading to increased earning potential and career advancement opportunities.

Average Tuition for Finance MBA Programs

• Average: $51,354 from 427 Finance MBA Programs
• Lowest Finance MBA: $7,458 from Indiana University Northwest
• Highest Finance: $3,330,624 from University of Oklahoma

Average Tuition Costs by State for MBA Programs

1. District of Columbia - $90,411
2. New Hampshire - $89,978
3. Massachusetts - $74,823
4. California - $62,786
5. New York - $60,867
6. Oregon - $58,058
7. Pennsylvania - $56,493
8. Virginia - $55,118
9. Arizona - $54,870
10. Maryland - $51,489
11. Illinois - $51,473
12. New Jersey - $46,967
13. Minnesota - $45,364
14. Connecticut - $45,159
15. Tennessee - $43,733
16. Colorado - $43,410
17. North Carolina - $42,811
18. Ohio - $42,273
19. Michigan - $42,254
20. Washington - $41,475
21. Florida - $39,539
22. Texas - $37,297
23. Wisconsin - $35,924
24. Missouri - $35,258
25. Rhode Island - $34,848
26. Utah - $34,122
27. Georgia - $34,087
28. Indiana - $33,345
29. Vermont - $31,878
30. Delaware - $30,726
31. Louisiana - $29,905
32. Wyoming - $26,460
33. Iowa - $25,891
34. Oklahoma - $25,050
35. Alaska - $24,962
36. Nebraska - $24,241
37. South Carolina - $23,102
38. Kentucky - $22,392
39. West Virginia - $21,940
40. Hawaii - $21,288
41. Alabama - $20,760
42. North Dakota - $20,455
43. Nevada - $20,375
44. Maine - $19,935
45. Mississippi - $19,669
46. Montana - $18,521
47. Kansas - $18,385
48. Arkansas - $18,238
49. Idaho - $15,887
50. South Dakota - $14,683
51. - $14,497
52. New Mexico - $13,961

What is the Average ROI for Finance MBA Programs?

The average ROI full-time for MBA programs in Finance is 177% with a highest of 906% and the lowest of -40%.

Return on investment (ROI) is an essential factor when considering which MBA program(s) to apply to. To calculate ROI, consider both the tuition for the MBA program and the average salary a graduate earns. The average tuition cost for an MBA degree in Finance is approximately $51,354.13, while the average starting salary for MBA graduates is around $83,879.41. To calculate ROI, you need to subtract the tuition from the salary and divide by the tuition cost. This will give you a rough estimate of how much value you will get out of the MBA Finance.

The average ROI for all MBA programs in the United States is 186%. The average ROI for Finance programs is 177%.

ROI for Finance MBA Programs

• Average: 177% from 511 Finance MBA Programs
• Lowest: -40% from Rochester Institute of Technology
• Highest: 906% from Texas A&M University-Texarkana

Average ROI by State 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%

What is the Average GMAT Needed for Finance MBA Programs?

The Graduate Management Admission Test (GMAT) is a standardized examination used by MBA schools to assess their applicant pool. The test is strategically designed to measure an applicant’s analytical, verbal, writing and mathematical skills. The GMAT is used as a predictor of success in MBA programs and tests one’s ability to successfully handle the advanced quantitative and qualitative study of business and management.

The average GMAT scores full-time MBA programs in Finance is 570 with a highest of 737 and the lowest of 370

More than 233 AACSB accredited MBA programs do not require their applicants to take GMAT exam. Many well-known programs such as the University of Michigan and the University of California, Los Angeles no longer require the exam. If you are unsure where you would like to take your program, then you should take the GMAT sooner rather than later so you don’t lose time meeting the score requirement of a program.

The average GMAT score needed for a Finance MBA program from an institution is between 370 from Auburn University at Montgomery to 737 from Stanford University. The average GMAT scores for Finance MBA programs is 570.

Average GMAT Score for Finance MBA Programs

• Average: 570 from 511 Finance MBA Programs
• Lowest: 370 from University of Wisconsin-River Falls
• Highest : 737 from Stanford University

Average GMAT Scores by State for MBA Programs

1. Vermont - 640
2. District of Columbia - 637
3. New Hampshire - 631
4. Massachusetts - 620
5. Indiana - 609
6. Oregon - 604
7. Minnesota - 602
8. Maryland - 594
9. Oklahoma - 592
10. Tennessee - 584
11. New York - 584
12. Mississippi - 584
13. Ohio - 580
14. Idaho - 579
15. Missouri - 579
16. Pennsylvania - 577
17. Arizona - 573
18. Nevada - 571
19. Virginia - 571
20. Georgia - 571
21. Iowa - 568
22. Illinois - 567
23. Montana - 567
24. Washington - 566
25. Utah - 563
26. Maine - 562
27. Wisconsin - 561
28. Texas - 559
29. North Carolina - 558
30. California - 558
31. South Carolina - 555
32. Arkansas - 554
33. Connecticut - 553
34. New Jersey - 552
35. North Dakota - 550
36. Michigan - 549
37. Nebraska - 547
38. Kentucky - 546
39. Delaware - 544
40. South Dakota - 541
41. New Mexico - 540
42. Hawaii - 539
43. Colorado - 536
44. Kansas - 536
45. Florida - 533
46. Louisiana - 529
47. Alabama - 514
48. Alaska - 514
49. Rhode Island - 513
50. - 509
51. West Virginia - 503
52. Wyoming - 460

25 No GMAT / GRE Required Finance MBA Programs

Student / Faculty Ratio for Finance MBA Programs

Faculty to student ratio is an important factor in the quality of education you will receive. The lower the ratio, the more individualized attention you will receive. The more individualized attention you receive, the greater the odds you will understand the material better.

Student / Faculty Ratio for Finance MBA programs offering a Finance concentration varies between 2:1 and 63:1 with an average of 17:1 students.

The ratios provided are based off all MBA programs regardless of concentration. To discover what the ratio is for the program you are interested in, research the faculty pages of the school and average size of the programs. Faculty could be part or full time. Many also work in the concentration and can provide the students with real-world examples.

Which Finance MBA Programs Have the Highest Student Enrollment?

When reviewing how the student population is spread across program formats, you will find the highest concentration of students are, then part time, then full time. The concentration is spread based on flexibility. The higher the flexibility (aka the least amount of scheduled class time), the higher the number of students.

The average Student Enrollment for full-time MBA programs in Finance is 298 with a highest of 3,836 and the lowest of 2

There are pros and cons to small cohorts versus large cohorts. Small cohorts can become very cohesive and encourage each other to make it through the program. However, if the personality dynamic is off, it is hard to find new group members in a smaller pool of students.

The large cohorts cultivate a variety of approaches to solve the same problem, help others to think outside of the box and foster creativity. However, you could feel like just a number and desire more individual attention. When researching schools, try to reach out to current students and ask about the culture to help you decide which type of culture best suits you.

Career Outlook, Job Opportunities, Roles, Industries for a Finance MBA

How We Rank Finance MBA Programs

The team at responsible for program rankings at MBAGuide.org comprises of data science and product management experts. Our ranking team works independently from the editorial team and is not influenced by editorial decisions.

MBAGuide.org employs a comprehensive ranking methodology that combines quantitative data (80% of the score) with qualitative assessments (20%) to evaluate MBA programs. The quantitative component considers factors such as student-faculty ratio, tuition, enrollment, and post-graduation salaries, while the qualitative aspect incorporates editorial ratings and school reputation, providing a well-rounded view of each program’s quality and value.

How to Improve:

User-Centric Content on Career Outcomes: While you have solid career information, adding more specific examples of roles and job titles for Finance MBA grads, alongside employer types or alumni success stories, can boost your page’s relevance and user appeal. Pages with these real-world applications often rank higher, as they provide a clearer picture of the degree’s value.

More details on curriculum and specializations offered in finance MBA programs. Cover topics like corporate finance, investment banking, fintech, real estate finance, etc. Discuss how the curriculum prepares students for specific finance careers.

Section on career outcomes and job prospects with a finance MBA. Highlight top employers, roles, and industries. Include salary data and advancement opportunities compared to a regular MBA or Master’s in Finance.

Admissions requirements and application tips specific to finance MBA programs. Provide guidance on test scores, work experience, essays, and interviews.