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<p>There are a plethora of reasons to go back to school and earn a <a href="https://fortune.com/education/business/best-mba-programs/">top MBA degree</a>, but among the top motivators is getting a salary increase and landing a senior-level position, according to the Graduate Management Admissions Council. Many MBA graduates land starting base salaries nearly triple that of those who earned only a bachelor’s degree. </p><div class="paywall-selector"></div><div class="paywall">



<p>This boost in pay largely has to do with the <a href="https://fortune.com/education/articles/mba-admissions-trends/">growing demand for MBA graduates</a>, Maryellen Reilly, deputy vice dean of the Wharton School of the University of Pennsylvania’s MBA program, previously told <em>Fortune. </em>Wharton is ranked as the No. 4 full-time MBA program in the country by <em>Fortune</em>, and in 2021 <a href="https://fortune.com/education/business/articles/2021/11/11/why-wharton-mba-salaries-just-hit-a-new-record/">saw its highest-ever median base salary</a> for MBA graduates at $155,000.</p>



<p>“The job market was keen to hiring MBAs and knew that to compete they had to be able to pay more,” she says. “Everybody’s chasing a pretty finite number of MBAs.”</p>



<p>The average salary for the class of 2021 bachelor’s degree graduates was $55,911, according to the National Association of Colleges and Employers. However, PayScale data shows that the average base salary for MBA graduates in the U.S. is $92,000. By comparison, GMAC reports the median base salary for MBA graduates as $115,000. This data doesn’t discern between modes of earning an MBA, whether in-person, <a href="https://fortune.com/education/business/best-online-mba-programs/">online</a>, or a hybrid program. </p>



<p>“Employers clearly place a high value on acquiring MBA and business master’s graduates,” Sangeet Chowfla, GMAC president and CEO, said in a statement.  “We are seeing a highly active candidate marketplace in terms of geographical shifts in study destinations, but the value that both employers and graduates see in an advanced business degree is a constant.”</p>



<p><em>Fortune</em> ranks the top full-time, in-person MBA programs in the U.S., and our <a href="https://fortune.com/education/business/articles/2021/07/07/methodology-for-fortunes-full-time-mba-ranking/">methodology</a> heavily weighs graduate outcomes, which includes starting base salaries (not including bonuses). Using data collected during our MBA ranking process, <em>Fortune </em>has compiled the top five MBA programs with the highest mean starting salaries, based on 2022 data. </p>



<h2 class="wp-block-heading" id="h-1-stanford-graduate-school-of-business">1. Stanford Graduate School of Business</h2>



<p><strong><em>Fortune </em>full-time MBA ranking</strong>: <a href="https://fortune.com/education/business/mba/rankings/stanford-university/">No. 5 </a></p>



<p><strong>Median base salary</strong>: $158,400</p>



<p><strong>Tuition</strong>: $76,950 per year</p>



<p><strong>Average GMAT score</strong>: 738</p>



<p><strong>Average undergrad GPA</strong>: 3.78</p>



<p><strong>Acceptance rate</strong>: 6.2%</p>



<h2 class="wp-block-heading" id="h-t2-new-york-university-stern">T2. New York University (Stern)</h2>



<p><strong><em>Fortune </em>full-time MBA ranking</strong>: <a href="https://fortune.com/education/business/mba/rankings/new-york-university-stern/">No. 7</a></p>



<p><strong>Median base salary</strong>: $155,000</p>



<p><strong>Tuition</strong>: $82,326 per year</p>



<p><strong>Average GMAT score</strong>: 729</p>



<p><strong>Average undergrad GPA</strong>: 3.59</p>



<p><strong>Acceptance rate</strong>: 19%</p>



<h2 class="wp-block-heading" id="h-t2-university-of-chicago-booth">T2. University of Chicago (Booth)</h2>



<p><strong><em>Fortune </em>full-time MBA ranking</strong>: <a href="https://fortune.com/education/business/mba/rankings/university-of-chicago-booth/">No. 2</a></p>



<p><strong>Median base salary</strong>: $155,000</p>



<p><strong>Tuition</strong>: $77,841 per year</p>



<p><strong>Average GMAT score</strong>: 732</p>



<p><strong>Average undergrad GPA</strong>: 3.54</p>



<p><strong>Acceptance rate</strong>: 23%</p>



<h2 class="wp-block-heading" id="h-t2-university-of-pennsylvania-wharton">T2. University of Pennsylvania (Wharton)</h2>



<p><strong><em>Fortune </em>full-time MBA ranking</strong>: <a href="https://fortune.com/education/business/mba/rankings/university-of-pennsylvania-wharton/">No. 4</a> </p>



<p><strong>Median base salary</strong>: $155,000</p>



<p><strong>Tuition</strong>: $84,874</p>



<p><strong>Average GMAT score</strong>: 733</p>



<p><strong>Average undergrad GPA</strong>: 3.6</p>



<p><strong>Acceptance rate</strong>: 18%</p>



<h2 class="wp-block-heading" id="h-5-harvard-business-school">5. Harvard Business School</h2>



<p><strong><em>Fortune </em>full-time MBA ranking</strong>: <a href="https://fortune.com/education/business/mba/rankings/harvard-university/">No. 1</a></p>



<p><strong>Median base salary</strong>: $150,500</p>



<p><strong>Tuition</strong>: $73,440</p>



<p><strong>Average GMAT score</strong>: 730</p>



<p><strong>Average undergrad GPA</strong>: 3.69</p>



<p><strong>Acceptance rate</strong>: 13%</p>



<hr class="wp-block-separator has-alpha-channel-opacity">



<p><em><em><em>Check out all of </em>Fortune’<em>s </em><a href="https://fortune.com/education/"><em>rankings of degree programs</em></a><em>, and learn more about specific </em><a href="https://fortune.com/education/careers/"><em>career paths</em></a><em>.</em></em></em></p>



<div class="wp-block-group pro-tip-box-widget"><div class="wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained">
<h3 class="wp-block-heading pro-tip-box-heading">Read more</h3>



<li>Choose from our rankings of the <a href="https://fortune.com/education/business/best-mba-programs/">best MBA programs</a> to find the next phase of your educational journey.</li>
<li>This list helps those looking for <a href="https://fortune.com/education/business/best-mba-programs/no-gmat-gre-required/">MBA program options that do not require submission of test scores</a> to apply.</li>
<li>Our directory of the <a href="https://fortune.com/education/business/most-affordable-online-mba-programs/">most affordable online MBA programs</a> can help you find the school that best fits your budget.</li>
<li>You can work towards your career goals on your own time by selecting from our list of the <a href="https://fortune.com/education/business/best-parttime-mba-programs/">best part time MBA programs</a>.</li>
<li>To help you pick the program that’s the best fit for you, we made this list of the <a href="https://fortune.com/education/business/best-executive-mba-programs/">best executive MBA programs</a>.</li>
<li>Interested in earning your MBA online? Here’s our ranking of the <a href="https://fortune.com/education/business/best-online-mba-programs/">best online MBA programs</a>.</li>
</div></div>
</div>

Some MBA graduates make three times the amount that working professionals with just a bachelor's degree do.

The top 5 full-time MBA programs with the highest starting salaries

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