MBA salary: 20 business schools where graduates earn the most

TL;DR

• Salary uplift is one of the main draws for enrolling in an MBA
• According to the Financial Times MBA Ranking, graduates from Harvard Business School can expect to earn an average of around $250,000 a year within three years of graduating, which is the best average graduating salary among the top 20 ranked schools
• Outside of the US, MBAs from top schools might expect slightly lower graduating salaries, although many double their pre-MBA salaries within three years of graduating

Considering the amount an average MBA student invests in their degree, it’s hardly surprising that post-MBA salary is a key focus for prospective students.

Students need the promise of a strong post-MBA salary spike to pay off tuition fees alone, which pack a hefty punch. Take the Wharton MBA—the most expensive full-time MBA program according to our Cost of MBA Report 2025—where tuition alone comes in at roughly $184,500; or Harvard Business School, with tuition fees of $157,400 for the two-year program.

But given the eye-watering salaries that some MBA graduates can expect to earn, the cost doesn't feel quite as significant. Here, we list the business schools with the highest MBA salaries three years after graduation, based on the 2025 Financial Times MBA Ranking.

Best business schools for MBA salaries

20. Yale School of Management, USA

One of the US’s oldest universities, Yale University is famed for its influential alumni, including five US Presidents and more than 20 living billionaires.

Yale MBA graduates see a strong return on investment, earning an average of $201,752 per year within three years of graduation—a 123% increase compared to their pre-MBA salary.

19. University of Michigan’s Ross School of Business, USA

Ranked 29th overall in the FT global ranking but 19th for MBA salaries, the University of Michigan’s Ross School of Business offers strong earning potential for its graduates. 

Within three years of completing the program, Ross MBAs command an average salary of $202,264—an impressive 136% increase from their pre-MBA earnings.

18. UCLA Anderson School of Management, USA

Based in California and named after American billionaire John E Anderson, UCLA Anderson School of Management has a 77% success rate when it comes to employing graduates within three months. Those grads go on to earn impressive salaries of $203,117.

17. ESADE Business School, Spain

European business schools dominated the FT ranking in 2025, with six of the top 10 coming from the continent, and ESADE Business School stands out among them. 

Ranked eighth overall, the Barcelona-based institution sees its graduates earning an impressive $205,044 within three years of completing their degree. Even more notable is the significant 173% salary increase ESADE MBAs experience compared to pre-MBA earnings.

16. New York University Stern School of Business, USA  

NYU Stern dropped 10 places in the 2025 FT ranking, placing 31st overall. An esteemed business school based in the heart of New York City, NYU Stern offers students access to leading financial hubs, tech giants, and a vast professional network.

Stern MBAs earn $208,236 within three years of graduation. This figure amounts to a 125% increase compared with pre-MBA salaries.

15. Duke University Fuqua School of Business, USA 

The average graduate from the Fuqua MBA earns $208,261 per year within three years. It’s clear Fuqua is a school that promises a significant salary, as well as one that flies the flag for women in business—51% of the MBA Class of 2026 are female. 

The school’s alumni include Melinda Gates, co-founder of the Bill and Melinda Gates foundation, and Apple CEO Tim Cook.

14. Darden School of Business, University of Virginia 

Based in the historic city of Charlottesville, the University of Virginia’s Darden School of Business is one of the many US-based business schools that rank among the top 20 schools in the FT MBA ranking. 

With careers services ranked among the 10 best in the world, Darden graduates can expect to earn $208,964 per year within three years of graduation.

13. INSEAD, France/Singapore 

INSEAD holds the fourth position in the 2025 FT ranking, beating out competition from many of the prestigious M7 business schools. 

But the school has much more to offer beyond its ranking status. As well as campuses in France, Abu Dhabi, and Singapore, and industry-leading faculty, INSEAD boasts impressive salary statistics. 

MBA graduates bring in an average of $209,992 per year after three years, making it a truly international program with a promising return on investment. 

12. Dartmouth College Tuck School of Business, USA   

Located in New Hampshire, Dartmouth’s Tuck School of Business is recognized for its strong alumni network, which includes the likes of Christopher A. Sinclair, executive chairman and former CEO of Mattel, Inc.; and Janet L. Robinson, president and CEO of The New York Times Company.

Tuck MBA graduates achieve impressive career success, earning an average salary of $211,135 within three years of graduation.

11. London Business School, UK

London Business School ranks seventh overall in the FT ranking for 2025, with graduates earning an average of $214,823 within three years. Strong job prospects see 87% of the Class of 2024 employed within three months, with consulting (42%), finance (26%), and tech (21%) the most popular industries.

With 510 companies hiring from the latest class, LBS offers strong career opportunities and a solid return on investment.

10 best business schools for MBA salaries

10. SDA Bocconi School of Management, Italy  

SDA Bocconi School of Management is one of Europe’s top business schools, located in the heart of Italy’s business hub: Milan. It hosts a top-five ranking MBA program, according to the Financial Times. 

Graduates from the Bocconi MBA tend to see impressive return on their investments, with a 124% increase between pre- and post-MBA salary, and average salaries of $217,241, three years after leaving the program. 

9. Haas School of Business, University of California Berkeley, USA  

On the west coast of the US, UC Berkeley’s Haas School of Business has established a reputation for producing high-flying graduates with even higher salaries.

The sunny Californian campus is not the only appeal of enrolling in the Haas MBA, the school is also famous for its renowned faculty members, including Hal Varian, chief economist at Google. 

The world-class education on offer makes Haas graduates highly employable, earning average salaries of $219,388 per year within three years.

8. Indian Institute of Management Ahmedabad, India 

A leading public business school located in Ahmedabad on the West coast of India, Indian Institute of Management (IIM) Ahmedabad ranks among the top two schools in India, according to the FT.

The school boasts impressive statistics, with 96% of students gaining employment within three months of graduation. Grads also earn average salaries of $219,467 three years after graduation—a significant $25,000 increase since 2024.

7. Kellogg School of Management, Northwestern University, USA 

Northwestern University’s Kellogg School of Management continues to rank highly in the FT’s Global MBA Ranking, the school has ranked among the top 10 for the past four years.

The appeal of living in Chicago, along with the potential of earning an average salary of $219,487 per year within three years, make this business school an obvious choice for many MBA applicants.

6. Shanghai University of Finance and Economics College of Business, China

The College of Business at Shanghai University of Finance and Economics offers one of the top Global MBAs in Asia. The school's strong salary prospects contribute to its position as the third highest-ranking business schools in the continent, and second-best in China.

With a salary boost of 195% compared to pre-MBA earnings, graduates go on to earn an average of $226,494 within three years.

5. Sloan School of Management, Massachusetts Institute of Technology (MIT), USA 

Given MIT’s status as one of the best universities in the world, and its famously selective admissions process, its graduates are in high demand. 

And it’s good news for MBA graduates on the compensation front too; after three years, MIT MBAs can expect to earn on average $232,565 per year.

4. Booth School of Business, University of Chicago, USA

Ranking 17th in the overall FT ranking, University of Chicago’s Booth School of Business is the fourth highest FT-ranked school for MBA salaries in 2025, promising students a strong return on their investments.

Booth MBA grads can hope to earn in the region of $236,474 per year on average within three years, a 121% salary increase on their pre-MBA earnings.

As many as 84% of Booth grads land jobs within three months, a testament to the mentoring and advice MBA students get when they enrol. Booth MBAs need not only think about salary—the school has produced the most Nobel laureates out of any other business school in the US.

Top three business schools for MBA salaries

3. The Wharton School of the University of Pennsylvania, USA

Despite dropping out from the 2023 FT ranking, The Wharton School at the University of Pennsylvania has earned top position in the ranking for the past two years. Renowned for its strength in finance and high earning potential, the school beat out last year’s top-two schools, INSEAD and Columbia Business School to claim the title of best business school in the world in 2025. 

It's no surprise, then, that within three years of graduating, Wharton alumni can expect to earn $241,522 per year, a 113% increase compared to pre-MBA earnings.

2. Columbia Business School, USA

A Manhattan-based campus and proximity to Wall Street has consistently made Columbia Business School a strong option for those aspiring for a career in finance.

Ranked in second place in the FT overall ranking, the school’s strong salary performance contributed to its high placement in 2025. Columbia MBAs earn an average salary of $242,747 after three years, averaging an impressive 131% salary increase compared to pre-MBA earnings.

1. Harvard Business School, USA

Harvard Business School claims the top spot for MBA salaries this year, overtaking Stanford, which held first place in 2024—though this is due to Stanford being absent from the FT ranking this year due to insufficient numbers of alumni survey responses.

Despite ranking 13th overall in the FT ranking, a Harvard MBA degree is worth its weight in gold, with graduates expected to earn $256,731 on average within three years.

Check out our Harvard MBA Jobs and Salary Review

20 best business schools for MBA salaries

*Salaries are calculated as an average of alumni salaries three years after graduation and based on the FT Global MBA Ranking 2025.