Is going to business school worth it?

The good news is that our latest research shows that employers remain highly confident in graduate business degrees. Those considering business school today, especially Gen Z, are also redefining what “worth it” means. While salary increases and promotions are typical ways to measure the return on investment (ROI) of an MBA or master’s, applicants are increasingly focused on the skills and personal growth that business school can deliver.

In this article we explore how you can assess the value of business school, and offer guidance on how to evaluate whether business school is worth it for you.

How do employers view business school?

If you're wondering whether business school is “worth it” in employers' eyes, the answer is a clear yes. In our most recent Corporate Recruiters Survey, 99% of global employers reported confidence in graduate management education's ability to prepare students to succeed in their organizations.

Employers say they trust business school graduates because they bring strong communication skills, versatile skill sets, and a strategic mindset, and they are increasingly impressed by graduates' innovation and ability to navigate technological disruption.

Despite shifts in technology and work, recruiters still see MBA graduates as the people who can step into leadership and guide organizations through change. The survey also highlighted employers’ confidence in graduates’ ability to handle complex global environments and lead through technological disruption.

What skills will you gain at business school?

When recruiters say they value business school graduates, they are thinking about specific skills—not just the credential on your resume.

Across regions and industries, employers say the skills they most value today include:

• Problem-solving

• Strategic thinking

• Communication skills

• Adaptability and initiative

• Leadership, decision-making, and teamwork

These are all skills you can learn at business school. Additionally, AI and technology skills are climbing fast up the priority list. In 2024, only 26% of employers said adeptness with AI tools was important when hiring business school graduates; by 2025 that figure rose to 31%, one of the largest jumps among all skills that corporate recruiters were seeking.

Looking five years ahead, employers now rank “skills in using AI tools” as the single most important capability for future business school graduates—above even strategic thinking and problem-solving.

At the same time, most business schools are bringing AI tools directly into the classroom, from case studies to simulations, to help you practice the AI-enabled strategic thinking employers now expect.

The strongest graduates blend classic “human” skills—leadership, communication, emotional intelligence—with confident use of AI and technology. You may also want to learn about the ethics of AI, a topic that future business leaders will need to consider. 

What do other candidates want from b-school?

While a salary bump is certainly welcome, often the definition of what makes an MBA valuable goes beyond finances. Our latest Prospective Student Survey shows that 77% of global business school candidates want their degree to help them “enrich life and develop [their] potential”.

Career outcomes are the most important aspect for applicants when researching a program, according to the survey, though the second most important factor is broader return on investment including skills and future opportunities.

Gen Z applicants in particular are looking for a business degree with purpose. This means they want to address real-world problems such as ethical or societal challenges in the classroom, while also as entering diverse, global classrooms that reflect the workplaces they hope to join.

Crucially, Gen Z see ROI as both financial and emotional. While salary increases and brand-name jobs matter, respondents also emphasize work-life balance, a sense of purpose, and feeling that their education enhances their potential.

As Priyal Keni, a London Business School (LBS) MBA graduate now working as an associate at McKinsey, told us in a recent interview: “The true value lies in what you choose to make out of the opportunities offered during the course of the MBA degree and the level of commitment you demonstrate in maximizing your time at business school.”

When you ask “is it worth it?”, think beyond just starting salary. Consider what’s important to you—for example, does this means an experiential, values-aligned curriculum or perhaps a diverse network of international peers. Knowing what’s important to you can help you seek out a program that offers you the ROI you’re aiming for.

B-school outcomes: hiring, salaries, and employability

According to our research, The Value of Graduate Management Education, 85% of graduates in 2022 said their investment in Graduate Management Education had a positive return. In the same survey, around two-thirds of business school graduates reported they advanced at least one job level after their degrees, and three out of four said that graduate management education helped them achieve personal, professional, and financial goals.

More recent data from the Financial Times Global MBA Ranking 2026 shows that MBA graduates from the world’s top 100 business schools enjoyed a 118% salary increase within three years of graduation, with grads from some schools—such as the FT’s top-ranked MBAs in India—enjoying a salary percentage increase of around 200% on average.

Stories from graduates about their outcomes reinforce this data. Paige Smith, an MBA graduate from UNC's Kenan-Flagler Business School, shares: “The first few months post-graduation are tough as I rebuild my savings. That said, not only did I triple my salary immediately, but my earning potential is completely reimagined.” After her MBA, Paige landed a role as an associate at McKinsey. Kenan-Flagler Business School grads receive an average salary percentage increase of 122% according to the 2026 FT Ranking, with a weighted salary of around $181k.

Average post-MBA salaries at some business schools exceed $200,000. At 2025’s top-ranked MIT Sloan, average grad salaries hit $246k, while at Harvard Business School, grads can command an average of $260k within three years of business school.

Usefully, the FT Global MBA ranking also offers a ‘value for money’ rank, to help you work out the best value MBA programs. For example, the MBA at the University of Georgia: Terry ranks top in 2026, as its average grad salary ($151k) offers a 155% increase on pre-MBA earnings—quickly helping students recoup the relatively low cost of the MBA at approximately $70k for two years’ study.

And as stated earlier, recruiter confidence in MBA talent remains strong. According to our 2025 Corporate Recruiters Survey, more than a third of employers expected to hire more newly minted MBAs in 2025 than they did in 2024, with average starting salaries expected at approximately $120,000.

What are the non-financial returns of b-school?

When weighing up the benefits of an MBA, it’s common to think of ROI in purely financial terms. However the benefits extend far beyond economics. You should also consider:

1. Network benefits

MBA graduates gain access to a robust professional network. During an MBA, you connect with alumni, classmates, mentors, professors, and business leaders. This network is vital in boosting your MBA ROI and should be a significant factor in business school research

Courtney Wenneborg, an MBA graduate from the University of Washington's Foster School of Business, explains why her degree was worth the cost: “Return on investment for me is knowing I can continuously open doors for myself and never get bored. The connections I made and the program itself meant there has been a huge diversity of experiences available to me.”

2. Skills development

The 'hard' skills you'll learn in an MBA—accounting, marketing, management, strategy—are highly valued by businesses across the world. You'll also develop 'soft' skills such as communication, leadership, and teamwork that benefit you throughout your personal and professional life.

Brian Mitchell, associate dean of full-time MBA programs at Emory University Goizueta Business School, emphasizes the importance of skill development: “The return on the MBA investment includes lifelong skills in leadership, critical thinking, problem-solving, ethics, and much more as part of the academic experience.”

3. Access to exclusive opportunities

MBA students gain access to exclusive career-boosting opportunities, including recruiter events, career counseling, MBA clubs and societies, and case competitions. Scholarship recipients can also benefit from events such as Forté's women in business conferences and access to the Forté corporate recruiter list.

Priyal from LBS adds: “Pursuing an MBA allowed me to hit the pause button, reflect on my career path, and strategically plan the roadmap for the coming year.”

4. The MBA triple jump

Many ambitious students achieve the MBA triple jump—changing job, industry, and location simultaneously. Gemilyn Sta Rosa, an MBA graduate from INSEAD who now works as a consultant at Kearney, says: “Considering my goal of securing global opportunities, an MBA was a rewarding investment.”

Is an in-person, full-time MBA worth it?

Because flexible study options have exploded over the past decade, another key question is whether an online or hybrid degree is worth less than a traditional in-person program.

Our 2025 Corporate Recruiters Survey shows that just over half of global employers agree or strongly agree that they value online and in-person degrees equally, with tech sector employers especially likely to treat such graduates the same. However, in the US and in more traditional client-facing industries such as consulting and finance, many employers still express a preference for degrees earned predominantly in person.

Many b-school applicants suggest their ideal program would be delivered face-to-face, enhanced by digital tools and occasional online lectures from experts around the world. That aligns closely with employer expectations: a core in-person experience, supported by the kind of digital fluency that hybrid workplaces demand.

So if you're targeting traditional consulting, high-end finance, or US-based roles, you may find that an in-person or blended program offers stronger signaling power. If you are more tech-focused or globally flexible, a high-quality online or hybrid degree can still deliver solid ROI, especially if it leans into AI, data, and virtual collaboration.

Work out the cost of an MBA

It's important to be realistic about the investment required in going to business school. According to our Cost of MBA Report 2025, the estimated total average cost of an MBA program is around $203k—including tuition, living costs, healthcare, material costs, and additional fees.

Tuition fees alone at some of the leading MBA programs in the world now exceed $180,000, with average post-MBA salaries at some business schools exceeding $200,000.

Our article on the ROI of an MBA notes that the top-ranked US schools raised their tuition fees by an average of 3.1% in 2025, costing an average of $165,503 for a two-year program in 2024. The average total cost of a top US MBA has risen by 12% since 2021—from $217,000 to $243,267.

Calculating your MBA ROI

We’ve developed a framework for calculating MBA ROI.

To calculate the ROI of an MBA, you'll need to work out:

• Your current annual salary (excluding taxes)

• The total cost of your MBA (including tuition fees, living costs, application fees, travel, and interest paid on student loans)

• The opportunity cost of your MBA (how much salary you're losing by pursuing an MBA)

• Your prospective post-graduation salary (available on school websites, Financial Times Global MBA Ranking, or employment reports)

For example: If your current salary is $100,000, and you're studying a one-year, full-time MBA with a total cost of $100,000 including living expenses, plus you forgo a salary of $100,000 during the program, the total investment is $200,000. If the average graduate salary from your MBA program is $150,000, you'll earn an extra $50,000 per year after graduating—an annual ROI of 25%, leading to a 100% return on investment after four years.

Waras Singh, a student at the Indian School of Business, advises: “One key piece of advice I would offer is to treat MBA finances like a strategic investment rather than just an expense. While the cost of an MBA can seem significant, its real value lies in the long-term personal and professional growth it unlocks.”

How to maximize your MBA ROI

So, how do you maximize the ROI of your MBA? Here are some strategies from our article asking whether an MBA is worth it:

Studying a shorter program, getting a scholarship, and working alongside a part-time MBA are all ways of reducing your financial burden and increasing your ROI. But there's plenty you can do during the program, too.

Brian from Emory Goizueta Business School, emphasizes that embracing the entire MBA experience is vital: “Students should take full advantage of the co-curricular programming, networking opportunities, global experiences, and the myriad of activities that envelope the academic experience. Goizueta alumni consistently tell us that their expectations were exceeded and the MBA was worth it, in large part, because they immersed themselves in the community and formed strong relationships with their professors and classmates.”

Conrad Chua, executive director of the MBA at Cambridge Judge Business School, believes focusing on your network provides the biggest long-term benefits: “Students should look at both the numerator and denominator for the ROI of an MBA. They can maximize returns by working hard on academics, networking, and developing career skills. The returns from an MBA can stretch many years after the program through the strong alumni networks that you build.”

An MBA student from China Europe International Business School (CEIBS) adds: “I'm learning and reaffirming things about myself that I knew and didn't know before—this forms the impetus for me to make certain changes in my life.”

Focus on ways you can maximize your MBA ROI by upskilling, gaining new experiences and connections, and the high business school salaries are likely to follow.

How to decide if business school is worth it for you

Pulling everything together—from our research data and candidate and employer stories—"Is business school worth it?” becomes a personalized question rather than a universal yes or no.

Use these prompts to apply the evidence to your own situation:

1. Employer demand:

• Do employers in your target industry actively recruit MBAs or business master's graduates?

• Are they explicitly asking for skills—AI, data, leadership, communication—that you're likely to gain in a modern program?

2. Your version of ROI:

• Are you looking mainly for salary growth and faster progression, or also for network, confidence, international exposure, and more fulfilling work?

• Does the program you're considering offer experiential learning, flexible delivery, and a diverse cohort that match your ideal experience?

3. Format and signaling:

• For your target geography and sector, would an in-person degree materially improve how employers perceive your profile compared with a fully online option?

• Does the school clearly integrate AI, analytics, and tech into its curriculum, as leading schools are starting to do?

If you can connect a specific program to clear employer demand, rising salary projections, the skills highlighted in the Corporate Recruiters Survey, the evidence strongly suggests that business school can be worth it for you. If those pieces don't line up—your goals are vague, your target industry doesn't reward the degree, or the program doesn't align with what candidates and employers say they value—you may want to pause, refine your plans, or consider alternatives before committing.

It's important to ask yourself this: Will an MBA help me achieve my life goals? If the answer is yes, then an MBA is most likely worth it.