How to choose a business school location that fits you 

Every prospective student has their own priorities when choosing where to study for their business school degree. Some focus on program rankings, others prioritize career prospects. Cost, safety, and lifestyle are key considerations as well.

Your choice of location may also be influenced by the program you intend to study. An MBA, for example, is designed to help experienced professionals progress in their careers or change direction. Networking, career outcomes, and recruiting are therefore often top priorities. Master in Management (MiM) students, who are typically early-career professionals seeking foundational business knowledge, may place greater emphasis on the opportunity to experience life in a new location.

Whether you already have a business school location in mind or are just starting out on your journey, consider these key factors before applying.

Understand the full cost of attending

According to GMAC’s most recent Prospective Student Survey, finances are the key concern for those considering applying to business school today, particularly at early-career stages. Understanding how much a degree could cost you is an important factor in choosing a location.

Consider how much studying at a specific school or living in a particular location may cost and compare that with the possible return you could see on that investment. To do this, look beyond tuition and consider the additional costs—such as housing, transportation, and living costs—that will affect your overall budget.

For example, enrolling at Vanderbilt Owen Graduate School of Management—a high-ranking business school based in Nashville—will cost $76,700 per year to study either the school’s MBA or recently launched Master of Management. Students on both programs must also budget for additional costs for housing, food, transportation and personal expenses when studying in Nashville.

Yet, after graduation, students begin to offset their study costs through increased earning potential. Vanderbilt MBA graduates earn an average starting salary of more than $148,000 per year, plus an average signing bonus of $36,000, and go on to work at top companies such as Amazon, Deloitte, and EY.

Ultimately, it’s up to you to consider how much you can afford to invest in your education, and how this might affect the potential payoff. It’s worth noting there may also be scholarships you could be eligible for.

Explore the local culture and lifestyle

With so many business schools to choose from, one way to narrow down your search is by considering the culture and lifestyle of your shortlisted locations.

Jessica Ding, who is currently studying for her Vanderbilt MBA, found that the local community in Nashville helped her feel at home at business school. “Nashville is a city that's growing so quickly, and what has stood out to me most is how welcoming it is,” she says.

Known for its musical heritage, Nashville is home to venues like the Ryman Auditorium and the Country Music Hall of Fame Museum. The downtown area is known for the ‘Honky Tonk Highway’, the global hub of country music where live music plays from morning until night.

Jessica has found that sampling the local food at the city’s many restaurants is a great way to spend time with her cohort outside of class. “Some of my best memories from the program are dinners with classmates at a place one of us had just discovered. Getting to know the city that way has made my time here feel much richer,” she explains.

Research life in the cohort

When alumni reflect on their business school experiences, many regard the people they studied with as vital to the learning journey. Classmates will become part of your professional network and often your social circle. When evaluating study destinations, look at class profiles from previous years to determine the diversity of perspectives you could be exposed to.

Vanderbilt classes bring together students from a wide range of industries, functions and global backgrounds; each student has their unique set of experiences and perspectives to bring to the cohort.

Of the Vanderbilt MBA Class of 2027, 29 percent of the cohort were international, representing 20 countries overall. The class was relatively small, with just 160 people.

“The community is also one of the best parts of being here,” says Jessica. “Everyone at Owen and in Nashville made me feel at home faster than I ever expected. You'll find your people here.”

Explore post-graduation career opportunities

Where you study can influence your career opportunities after graduation, and for many students this plays a significant part in their choice of business school.

Jessica, who has a background in psychology, education and HR, knew she wanted to become a consultant and sought a program that would give her the business foundation to get there.

Nashville’s opportunities in healthcare, technology, and professional services helped her explore consulting as a career path. Jessica secured a summer internship at the management consulting firm ScottMadden during her first year. In total, 99 percent of students seeking internships in the Vanderbilt Class of 2026 accepted offers in the first year of their MBA.

“Having grown up in Shenzhen, China; studied in Minnesota; and worked in Boston before the MBA, this region was new to me. Living here helped me understand the people and businesses in a way that made me much more confident going into my summer internship,” she says.

Jessica is now heading into a role in human capital consulting after graduation. “It’s exactly what I came here hoping to do,” she says.

Wherever you choose to study, Jessica urges aspiring students to approach business school with an open mind. Some of her favorite experiences so far were the ones she almost didn’t sign up for.

“Saying yes to things I wasn't sure about is really how I grew the most,” she shares.