How Much Does An M7 MBA Cost?

What are the M7 business schools? They’re a prestigious group of elite US business schools that includes world-renowned names such as Stanford, Harvard, and Wharton. 

M7 MBAs are among the best-ranked programs in the world, historically dominating the annual rankings published by the Financial Times and US News & World Report. Though this has changed somewhat in recent years—with both Stanford and Wharton respectively dropping out of the FT Global MBA Ranking at points for failing to provide adequate survey data—the M7 schools remain some of the world's most prestigious MBA-conferring institutions. 

However, with those reputations comes significant financial demand—four of the world's most-expensive MBA programs are offered by M7 schools. So, exactly how much does an M7 MBA cost?

What is the overall cost of an M7 MBA?

According to our BusinessBecause Cost of MBA Report 2025, the average total cost for an M7 MBA program is over $260k, far higher than the global average for top MBA programs, which is around $203k. 

The Wharton MBA costs an estimated $185k in tuition fees for two years of study, while the Stanford MBA costs $172k. The Harvard MBA costs the least in terms of tuition fees out of the M7 schools, at around $157k, however the total cost of an MBA goes beyond tuition fees alone.

Our Cost of MBA Report 2025 considers MBA tuition fees alongside factors like living costs, the cost of materials, and healthcare cover, to estimate the total cost of the world’s top MBA programs.

Wondering how to manage your MBA finances? 

Download our Cost of MBA Report 2025

Most expensive M7 MBA programs

1. MIT Sloan School of Management

Total estimated cost: $275k

MIT Sloan has a history of producing world leading talent, including MIT notable alumni like Brian Halligan, CEO and co-founder of HubSpot, and John W Thompson, former chairman of Microsoft. 

But to earn a place among the brightest and best, you’ll have to pay a significant amount of money; our estimates suggest the MIT MBA costs around $275k in total, making it the most expensive of the MBAs available at M7 business schools.

The program’s tuition fees cost around $173k, making it the fourth most costly of the M7 MBAs in terms of tuition—but living expenses exceed $90k, making MIT Sloan the most expensive M7 business school to study an MBA at.

To make up for these costs, students are compensated by receiving an average salary of over $230k according to the latest Financial Times data, alongside a future-proof skillset. 

MIT MBA Class Profile | Breakdown

2. Stanford Graduate School of Business

Total Cost: $272k

The world's hardest MBA program to get into, the Stanford MBA is also one of the most expensive costing over $270k in terms of approximate total cost. 

While the school has the second lowest tuition fees among the M7, the cost of living at Stanford is over $80k a year, and it has an enormous healthcare fee. 

But Elise Smith, a Stanford MBA alum, thinks the cost is worth it. “While it was clear to me that every MBA program would offer finance and accounting, no other school focused so clearly on the soft skills that make the best leaders,” she says.  

Stanford MBA Jobs & Salary Review

3. The Wharton School at the University of Pennsylvania

Total Cost: $267k

Wharton ranks top among all the world’s MBA programs, according to the Financial Times. 

Despite this ranking, it falls in the middle of the M7 MBAs in terms of total cost, though the program still commands an eye-watering price of around $267k accounting for all fees incurred. Tuition at Wharton is the most expensive of all the M7 schools, coming in at almost $185k.

Wharton MBA grads see strong return on their investment, with an average salary of over $240k.

Wharton School Notable Alumni | 19 Famous MBAs

4. Columbia Business School

Total Cost: $267k

New York City-based Columbia Business School is one of the world’s top MBA programs, ranking second in this year’s FT ranking. Graduates have elite access to competitive positions at top companies. In fact, in 2023, the Big Three consulting firms, McKinsey, Boston Consulting Group, and Bain were the largest recruiters of Columbia students, taking on 82 graduates between them. 

The Columbia MBA has the M7’s second highest tuition fees after Wharton, at around $182k. Columbia comes in fourth in overall cost, with an estimated total cost of around $267k, similar to Wharton.

Columbia Business School MBA Jobs & Salary Review

5. The University of Chicago Booth School of Business

Total Cost: $252k

Chicago Booth is another top producer of world leading talent, including Satya Nadella, CEO of Microsoft, and Jon Corzine, former CEO of Goldman Sachs and ex governor of New Jersey. 

Chicago Booth MBA graduates can expect salaries of around $236k, according to the FT.

Booth’s tuition fees are just above the US average for top MBAs at almost $175k, while this includes healthcare costs unlike other schools. In total, the Booth MBA costs around $252k. 

There are many great things about studying at the school, thinks Eric Gene, a Booth alum: “Beginning with the great cohort and faculty that Chicago Booth allows us to work with,” he says.

6. Harvard Business School

Total Cost: $250k

Harvard is arguably the most famous business school in the world and its graduates can expect to earn around $257k on average.

But Harvard also has the lowest tuition rate among the M7. At around $157k, Harvard tuition is almost $15k below the average cost of tuition across all top US MBA programs, which stands at $172k. 

The Harvard MBA cost of living is the third highest behind MIT Sloan and Stanford at $78k. Estimated total costs for the Harvard MBA sit at around $250k. But for this price, you get to study at one of the world’s most iconic business schools, where the first ever MBA degree began. 

“It changed my perspectives on everything,” says Chris Riley, a Harvard MBA alum and founder of Guzman Energy, a clean energy startup. “I was in a room of tremendously smart people of different backgrounds, seeing a new range of perspectives as to how to solve problems.”

Harvard Business School MBA Jobs & Salary Review

7. Northwestern University Kellogg School of Management 

Total Cost: $248k

Kellogg offers the cheapest M7 MBA program. At around $248k in total, Kellogg’s MBA costs almost $30k less than MIT Sloan’s MBA, which is the most costly in 2025. 

Kellogg’s affordability is partly due to the school’s affordable cost of living. Kellogg has the most affordable living costs of all the M7 schools, coming in over $10k cheaper per year than Columbia, which has the second lowest living expenses.

Kellogg also offers a uniquely diverse experience to its students, says Tandra Bidyanda, a former Kellogg MBA. The most recent cohort is comprised of 39% international students, 48% of students are female, and 42% are US students of color. 

“Throughout my whole life I’ve enjoyed understanding a different culture or different perspective in the context of business,” she says. “I think I’m now the person in the room who comes in with an experience that is uniquely different from what people are used to today.” 

Kellogg MBA Jobs & Salary Review

How to pay for your M7 MBA

There are ways to make paying the substantial cost of an MBA easier, including loans and MBA scholarships offered by schools and independent organizations. 

“Cost is a very valid concern almost everyone I know has at the beginning of the process,” says Chris Abkarians, Harvard MBA graduate and co-founder of loans company Juno, “but most people don’t actually pay the sticker price". 

After being admitted into an M7 MBA, you can submit a financial aid request telling you how much aid you’re eligible for based on your income, assets, and liabilities. In some cases, you can also negotiate with schools over the amount of financial aid you are allotted, says Chris. 

“After that, you have to finance it in a way that’s best for you, through savings and loans. Most people spend a lot of time thinking about that and comparing options,” he explains. 

His company Juno has secured over $1 billion in low-interest loans for MBA students since it was founded in 2018. The company uses group buying power to negotiate better student loan rates for MBA participants

Ultimately, the financial support available means you shouldn’t let cost put off applying to an M7. With M7 graduates among the highest earning MBAs in the world, you can expect a strong return on your investment.

Download our free Cost of MBA Report 2025 to discover everything you need to know about the cost of an MBA at the world’s top business schools, with tips on MBA scholarships, increasing your MBA ROI, and more