Fortune is back with its third annual ranking of the full-time master of business administration programs.
Fortune included 81 schools total in its 2023 Best MBA ranking, which is made up of three components: outcomes score (65%), brand score (25%) and Fortune 1000 score (10%). Business schools were asked to complete a questionnaire to participate.
MBAs are the most common master's degree program in the United States, and the median salary for MBA graduates in 2023 is expected to be $125,000. Below are the 10 top-ranked schools for MBA degrees as ranked by Fortune, along with their acceptance rates, enrollees and median base salary for new grads, as provided in the ranking.
1. Harvard University (Cambridge, Mass.)
Acceptance rate: N/A
Enrolled: 2,024
New grads' median base salary: $175,000
2. Stanford (Calif.) University
Acceptance rate: 8.6%
Enrolled: 872
New grads' median base salary: $175,000
3. University of Pennsylvania (Philadelphia)
Acceptance rate: 25%
Enrolled: 1,793
New grads' median base salary: $175,000
4. Yale University (New Haven, Conn.)
Acceptance rate: 28%
Enrolled: 733
New grads' median base salary: $160,110
5. Northwestern University (Evanston, Ill.)
Acceptance rate: 31.40%
Enrolled: 1,002
New grads' median base salary: $165,000
6. Columbia University (New York City)
Acceptance rate: 22.10%
Enrolled: 1,446
New grads' median base salary: $175,000
7. University of Chicago
Acceptance rate: 30%
Enrolled: 1,281
New grads' median base salary: $175,000
8. Massachusetts Institute of Technology (Cambridge, Mass.)
Acceptance rate: N/A
Enrolled: 817
New grads' median base salary: $165,000
9. New York University (New York City)
Acceptance rate: 27%
Enrolled: 678
New grads' median base salary: $170,000
10. University of Michigan—Ann Arbor (Mich.)
Acceptance rate: 28.10%
Enrolled: 754
New grads' median base salary: $165,000