27 MBAs With the Highest Return for Grads Earning $100,000-Plus

Farran Powell , Ilana Kowarski
·8 min read

Evaluate potential earnings with an MBA.

The Graduate Management Admission Council reported in a 2018 survey that the vast majority of alumni of two-year, full-time MBA programs -- 93% -- said their degree was professionally rewarding, and 83% said that their degree was financially beneficial. One way to gauge income potential is to look at a school's salary-to-debt ratio. That rate of return is calculated by dividing the average salary and signing bonus of recent grads by the average student debt of those who borrowed. Here are 27 ranked business schools where full-time MBA grads earning more than $100,000 on average within three months of graduation received the highest return.

Rice University (Jones) (TX)

U.S. News business school rank: 25

Average salary and signing bonus within three months of graduating (2020): $148,422

Average debt (2020): $92,091

Salary-to-debt ratio: 1.6-to-1

Learn more about the Jesse H. Jones Graduate School of Business.

University of North Carolina--Chapel Hill (Kenan-Flagler)

U.S. News business school rank: 20

Average salary and signing bonus within three months of graduating (2020): $151,873

Average debt (2020): $94,434

Salary-to-debt ratio: 1.6-to-1

Learn more about the Kenan-Flagler Business School.

University of Texas--Austin (McCombs)

U.S. News business school rank: 18 (tie)

Average salary and signing bonus within three months of graduating (2020): $154,211

Average debt (2020): $95,260

Salary-to-debt ratio: 1.6-to-1

Learn more about the McCombs School of Business.

University of California--Berkeley (Haas)

U.S. News business school rank: 7 (tie)

Average salary and signing bonus within three months of graduating (2020): $162,409

Average debt (2020): $93,602

Salary-to-debt ratio: 1.7-to-1

Learn more about the Haas School of Business.

University of San Diego

U.S. News business school rank: 92 (tie)

Average salary and signing bonus within three months of graduating (2020): $102,483

Average debt (2020): $59,156

Salary-to-debt ratio: 1.7-to-1

Learn more about the University of San Diego School of Business.

Emory University (Goizueta) (GA)

U.S. News business school rank: 26 (tie)

Average salary and signing bonus within three months of graduating (2020): $151,922

Average debt (2020): $86,776

Salary-to-debt ratio: 1.8-to-1

Learn more about the Goizueta Business School.

Michigan State University (Broad)

U.S. News business school rank: 39 (tie)

Average salary and signing bonus within three months of graduating (2020): $128,615

Average debt (2020): $69,910

Salary-to-debt ratio: 1.8-to-1

Learn more about the Eli Broad College of Business.

University of Virginia (Darden)

U.S. News business school rank: 13 (tie)

Average salary and signing bonus within three months of graduating (2020): $169,190

Average debt (2020): $95,976

Salary-to-debt ratio: 1.8-to-1

Learn more about the Darden School of Business.

Harvard University (MA)

U.S. News business school rank: 5 (tie)

Average salary and signing bonus within three months of graduating (2020): $171,785

Average debt (2020): $90,726

Salary-to-debt ratio: 1.9-to-1

Learn more about Harvard Business School.

Temple University (Fox) (PA)

U.S. News business school rank: 84 (tie)

Average salary and signing bonus within three months of graduating (2020): $102,314

Average debt (2020): $54,556

Salary-to-debt ratio: 1.9-to-1

Learn more about the Richard J. Fox School of Business and Management.

University of Notre Dame (Mendoza) (IN)

U.S. News business school rank: 36 (tie)

Average salary and signing bonus within three months of graduating (2020): $131,104

Average debt (2020): $68,161

Salary-to-debt ratio: 1.9-to-1

Learn more about the Mendoza College of Business.

Howard University (DC)

U.S. News business school rank: 64 (tie)

Average salary and signing bonus within three months of graduating (2020): $126,844

Average debt (2020): $55,995

Salary-to-debt ratio: 2.3-to-1

Learn more about the Howard University School of Business.

University of California--Davis

U.S. News business school rank: 53 (tie)

Average salary and signing bonus within three months of graduating (2020): $130,317

Average debt (2020): $55,531

Salary-to-debt ratio: 2.3-to-1

Learn more about the UC--Davis Graduate School of Management.

Indiana University (Kelley)

U.S. News business school rank: 23 (tie)

Average salary and signing bonus within three months of graduating (2020): $142,424

Average debt (2020): $59,041

Salary-to-debt ratio: 2.4-to-1

Learn more about the Kelley School of Business.

Ohio State University (Fisher)

U.S. News business school rank: 33 (tie)

Average salary and signing bonus within three months of graduating (2020): $132,022

Average debt (2020): $53,962

Salary-to-debt ratio: 2.4-to-1

Learn more about the Fisher College of Business.

North Carolina State University (Poole)

U.S. News business school rank: 64 (tie)

Average salary and signing bonus within three months of graduating (2020): $108,768

Average debt (2020): $42,770

Salary-to-debt ratio: 2.5-to-1

Learn more about the Poole College of Management.

University of Rochester (Simon) (NY)

U.S. News business school rank: 33 (tie)

Average salary and signing bonus within three months of graduating (2020): $143,349

Average debt (2020): $56,336

Salary-to-debt ratio: 2.5-to-1

Learn more about Simon Business School.

Purdue University--West Lafayette (Krannert) (IN)

U.S. News business school rank: 44 (tie)

Average salary and signing bonus within three months of graduating (2020): $105,702

Average debt (2020): $40,002

Salary-to-debt ratio: 2.6-to-1

Learn more about the Krannert School of Management.

Brigham Young University (Marriott) (UT)

U.S. News business school rank: 31 (tie)

Average salary and signing bonus within three months of graduating (2020): $125,522

Average debt (2020): $41,642

Salary-to-debt ratio: 3-to-1

Learn more about the Marriott School of Business.

University of Texas--Dallas

U.S. News business school rank: 31 (tie)

Average salary and signing bonus within three months of graduating (2020): $111,168

Average debt (2020): $33,111

Salary-to-debt ratio: 3.4-to-1

Learn more about UT--Dallas.

University of Wisconsin--Madison

U.S. News business school rank: 42 (tie)

Average salary and signing bonus within three months of graduating (2020): $126,660

Average debt (2020): $37,655

Salary-to-debt ratio: 3.4-to-1

Learn more about the Wisconsin School of Business.

Pennsylvania State University--University Park (Smeal)

U.S. News business school rank: 33 (tie)

Average salary and signing bonus within three months of graduating (2020): $133,919

Average debt (2020): $38,657

Salary-to-debt ratio: 3.5-to-1

Learn more about the Smeal College of Business.

University of Connecticut

U.S. News business school rank: 60 (tie)

Average salary and signing bonus within three months of graduating (2020): $102,167

Average debt (2020): $28,221

Salary-to-debt ratio: 3.6-to-1

Learn more about the University of Connecticut School of Business.

Arizona State University (W.P. Carey)

U.S. News business school rank: 30

Average salary and signing bonus within three months of graduating (2020): $124,600

Average debt (2020): $31,718

Salary-to-debt ratio: 3.9-to-1

Learn more about the W. P. Carey School of Business.

University of Washington (Foster)

U.S. News business school rank: 22

Average salary and signing bonus within three months of graduating (2020): $151,683

Average debt (2020): $31,780

Salary-to-debt ratio: 4.8-to-1

Learn more about the Michael G. Foster School of Business.

University of Florida (Warrington)

U.S. News business school rank: 26 (tie)

Average salary and signing bonus within three months of graduating (2020): $129,227

Average debt (2020): $22,705

Salary-to-debt ratio: 5.7-to-1

Learn more about the Warrington College of Business.

University of Georgia (Terry)

U.S. News business school rank: 39 (tie)

Average salary and signing bonus within three months of graduating (2020): $126,438

Average debt (2020): $21,141

Salary-to-debt ratio: 6-to-1

Learn more about the Terry College of Business.

Learn more about applying for an MBA.

See the complete 2022 Best Business Schools rankings, and find guidance on crafting a compelling MBA application. Follow U.S. News Education on Facebook and Twitter for the latest education news and advice.

Discover MBA programs with high salary-to-debt ratios.

-- University of Georgia (Terry): 6-to-1

-- University of Florida (Warrington): 5.7-to-1

-- University of Washington (Foster): 4.8-to-1

-- Arizona State University (W.P. Carey): 3.9-to-1

-- University of Connecticut: 3.6-to-1

-- Pennsylvania State University--University Park (Smeal): 3.5-to-1

-- University of Wisconsin--Madison: 3.4-to-1

-- University of Texas--Dallas: 3.4-to-1

-- Brigham Young University (Marriott): 3-to-1

-- Purdue University--West Lafayette (Krannert): 2.6-to-1

-- North Carolina State University (Poole): 2.5-to-1

-- University of Rochester (Simon) (NY): 2.5-to-1

-- Indiana University (Kelley): 2.4-to-1

-- Ohio State University (Fisher): 2.4-to-1

-- Howard University: 2.3-to-1

-- University of California--Davis: 2.3-to-1

-- Harvard University: 1.9-to-1

-- Temple University (Fox): 1.9-to-1

-- University of Notre Dame (Mendoza): 1.9-to-1

-- Emory University (Goizueta): 1.8-to-1

-- Michigan State University (Broad): 1.8-to-1

-- University of Virginia (Darden): 1.8-to-1

-- University of California--Berkeley (Haas): 1.7-to-1

-- University of San Diego: 1.7-to-1

-- Rice University (Jones): 1.6-to-1

-- University of North Carolina--Chapel Hill (Kenan-Flagler): 1.6-to-1

-- University of Texas--Austin (McCombs): 1.6-to-1