The most affordable MBAs combine a world-class business education with excellent cost savings. This list of the top ten most affordable MBAs is based on rankings compiled by magazines including the US News and Business Report, the Financial Times and Forbes. It is worth noting that exploring an in-state MBA will save significant costs over out-of-state tuition.
Featured Top-ranked Programs
#1 Arizona State University: W.P. Carey School of Business
Executive summary: Not only is the W.P. Carey School of Business one of the largest MBA programs in the United States, it is also the most cost-effective. Despite its estimated 1,800 MBA students, Carey’s classes rarely contain more than 45 students per class.
Tuition: For residents of Arizona, tuition is $22,500. Non-residents pay more, $30,700.
Unique features: A strong research school, Carey provides its MBA students with a well-rounded education. Carey offers courses on emotional intelligence and presentation skills, for example, as well as a strong internship program.
#2 University of Florida: Hough Graduate School of Business, Warrington College of Business Administration
Executive summary: The University of Florida’s Hough Graduate School of Business tailors its curriculum to provide students with the skills that employers demand. Student concentrations include, among the standard ones, real estate and urban analysis, portfolio management and sports business.
Tuition: In-state students pay $21,830 for their MBA education. Non-state resident tuition is $56,618.
Unique features: Hough’s practical and real-world MBA program offers courses essential for today’s professionals, including professional communication and writing, and leadership. Those interested in the business of sports should note that alumni include New York Yankees part-owner Hal Steinbrenner and Florida Panthers owner Alan Cohen.
#3 Indiana University: Kelley School of Business
Executive summary: Kelley provides a business education comparable to an Ivy League school, but at a very affordable price. It has a name among corporate recruiters for providing quality MBA candidates, especially in the fields of finance, marketing and general management.
Tuition: Tuition is a flat two-year price guaranteed upon admission. Residents currently pay $26,369 for tuition; non-residents are billed $45,350.
Unique features: Located in Bloomington, IN, Kelley provides a world-class research and technological environment in a pleasant setting. Students receive individualized guidance by professors who are experts in their chosen fields, helping in both their academic path and for building their professional networks.
#4 Texas A & M University: Mays Business School
Executive summary: The Mays Business School, located at the historic Texas A & M University, is a large school with diverse programs and cutting-edge research centers.
Tuition: Texas residents can finish their Mays MBA for $30,000, while non-state residents pay $46,000.
Unique features: Mays Business School is one of the only schools in the nation to host its own securities and commodities trading center, where students can practice trading using a quarter-million dollar school fund of donated money. Several research center, notably those in real estate and retailing research, are also located at Mays.
#5 Pennsylvania State University: Smeal College of Business
Executive summary: The globally-renowned Smeal College of Business offers custom-tailored MBA programs with personal attention for students from around the world.
Tuition: Pennsylvania residents can complete their MBA for $35,220 in tuition. Those who aren’t from the state of Pennsylvania are charged approximately $47,400.
Unique features: Smeal offers a world-recognized faculty, career development programs with a highly personal bent, and an overall strong emphasis on community, both within Smeal and with businesses around the globe. Those seeking a collaborative and international culture would do well here.
#6 University of Iowa: Howard B. Tippie School of Management
Executive summary: Founded in the 1920s, Tippie is one of the oldest MBA programs in the country. Its focus on business ethics and a global business community equip students well for the realities of today’s business world.
Tuition: $36,160 for in-state residents and about $67,000 for out-of-state residents.
Unique features: The Tippie MBA focuses on providing students with deep knowledge to become experts in their chosen field of study. The curriculum Unique featureis complemented with classes that make professionals marketable in today’s business environment, including strategic innovation and marketing. Tippie also contains the Consortium Institute for Management and Business Analysis (CIMBA), an important research center.
#7 UCLA – Anderson School of Management
Executive summary: Anderson is a top-tier business school and one of the best in the elite University of California (UC) system. Admission to Anderson is extremely competitive. In return, students gain a top-notch business education.
Tuition: For California residents, the cost of tuition is $40,983. Out-of-state residents pay approximately $8,000 more.
Unique features: Unique among MBA colleges, a cohort of students determine the course of the academic, student life, social and company recruiting organizations. In terms of academics, Andersen is strong across the board, and with a unique specialization in Communications, Media and Entertainment Management. Volunteerism is also especially emphasized in this MBA program.
#8 University of Pittsburgh: Joseph M. Katz Graduate School of Business
Executive summary: Katz is a top-ranked school with a wide variety of options for students wishing to study at home and abroad, pursue joint degrees and receive certificates.
Tuition: Resident tuition is $49,920 and non-resident tuition is $56,196.00.
Unique features: Launched in 1907, the University of Pittsburgh’s business education program has a rich history, including being the second school in the nation to offer an executive MBA (EMBA). A versatile school, Katz has a satellite MBA program in Prague, an accelerated one-year MBA program, and offers students four different kinds of MBA certificates.
#9 Michigan State University: Eli Broad College of Business
Executive summary: The Eli Broad College of Business, or Broad for short, is consistently named one of the top public business schools in the nation.
Tuition: Students at Broad will pay approximately $42,050 in tuition for their entire MBA program.
Unique features: The Eli Broad College of Business contains within it a School of Hospitality Business, in which students can earn an MBA that centers around the hospitality industry. Broad has twice been ranked as the top school in the nation for its Supply Chain Management MBA program. Its accounting and doctoral paths are also nationally eminent.
#10 University of Arizona – Eller College of Management
Executive summary: The University of Arizona Eller College of Management has been a graduate school of business for nearly 70 years. Boasting around 700 MBA graduate students and more than 55,000 alumni, Eller has a significant presence at the University.
Tuition: Eller charges residents of Arizona $45,180. Non-residents receive a vastly different bargain at $75,100 for the entire education.
Unique features: Eller is globally renowned for its entrepreneurship program, notably in social entrepreneurship, which is included in its overall business curriculum. It is also top-ranked nationally in several other areas, including Management Information Systems, Accounting, Supply Chain Logistics and Marketing.