Top MBA Programs of 2023


When you’re looking for the best MBA programs that are a fit for you, your first instinct is likely to look for a list of the top MBA programs. Read on to discover this year’s top MBA schools.

Top 25 MBA Programs in the US (2023)

US News and World Report uses the same methodology each year to survey all 493 Master’s in Business Administration programs accredited by the Association to Advance Collegiate Schools of Business International. Of the 363 respondents this year, 134 supplied enough information to be ranked in 2023.

1. University of Chicago (Booth)

  • Booth boasts a top MBA program with that focuses on finance and economics.
  • Location: Chicago, IL
  • Average GMAT – 732
  • Average GPA – 3.54
  • Acceptance Rate – 22.6%

Learn more about the University of Chicago’s MBA program!


2. University of Pennsylvania (Wharton)

  • Penn is known for its intense finance program, among other concentrations.
  • Location: Philadelphia, PA
  • Average GMAT – 733
  • Average GPA – 3.6
  • Acceptance Rate – 18.2%

Learn more about the University of Pennsylvania (Wharton) MBA program!


3. Northwestern University (Kellogg)

  • In addition to its top-rated marketing program, Kellogg is also known for its top-notch part-time MBA.
  • Location: Evanston, IL
  • Average GMAT – 727
  • Average GPA – 3.7
  • Acceptance Rate – 26%

Learn more about the Northwestern Kellogg MBA program!


4. Stanford University

  • The most selective business school worldwide, Stanford is renowned for its extensive and accomplished alumni network.
  • Location: Stanford, CA
  • Average GMAT – 738
  • Average GPA – 3.78
  • Acceptance Rate – 6.2%

Learn more about the Stanford MBA program!


5. Harvard University

  • One of the most prestigious MBA programs, Harvard’s is also the oldest program, with large graduating classes.
  • Location: Cambridge, MA
  • Average GMAT – 727
  • Average GPA – 3.69
  • Acceptance Rate – 12.5%

Learn more about the Harvard MBA program!


6. Massachusetts Institute of Technology (Sloan)

  • Sloan is widely recognized as a premier quantitative-based program, and this is reflected in the class members’ strong STEM backgrounds.
  • Location: Cambridge, MA
  • Median GMAT – 728
  • Average GPA – 3.6
  • Acceptance Rate – 12.1%

Learn more about the Sloan MBA program!


7. Yale University

  • Yale SOM is a leading program for students interested in non-profits.
  • Location: New Haven, CT
  • Average GMAT – 726
  • Average GPA – 3.67
  • Acceptance Rate – 23.6%

Learn more about the Yale MBA program!


8. Columbia University

  • Columbia’s MBA program is known for its ties to the financial community.
  • Location: New York, NY
  • Average GMAT – 732
  • Average GPA – 3.5
  • Acceptance Rate – 15.7%

Learn more about the Columbia MBA program!


9. University of California—Berkeley (Haas)

  • Haas has a reputation for prioritizing social responsibility in its MBA program.
  • Location: Berkeley, CA
  • Average GMAT – 726
  • Average GPA – 3.67
  • Acceptance Rate – 17.6%

Learn more about the Berkeley Haas MBA program!


10. University of Michigan—Ann Arbor (Ross)

  • Ross MBA students engage in real-world consulting experiences.
  • Location: Ann Arbor, MI
  • Average GMAT – 722
  • Average GPA – 3.53
  • Acceptance Rate – 20.2%

Learn more about the Michigan Ross MBA program!


11. Dartmouth College (Tuck)

  • Dartmouth Tuck is known for its small, tight-knit cohorts
  • Location: Hanover, NH
  • Average GMAT – 724
  • Average GPA – 3.54
  • Acceptance Rate – 29.5%

Learn more about the Dartmouth Tuck MBA program!


12. Duke University (Fuqua)

  • Duke Fuqua is strong in general management and marketing courses.Location: Durham, NC
  • Average GMAT – 713
  • Average GPA – 3.48
  • Acceptance Rate – 19.2%

Learn more about the Duke Fuqua MBA program!


13. New York University (Stern)

  • Flexible curriculum that allows students to take courses at other NYU schools.
  • Location: New York, NY
  • Average GMAT – 729
  • Average GPA – 3.59
  • Acceptance Rate – 19.5%

Learn more about the NYU Stern MBA Program!


14. University of Virginia (Darden)

  • UVA’s MBA program employs the case study method to teach students through real-world examples.
  • Location: Charlottesville, VA
  • Average GMAT – 715
  • Average GPA – 3.52
  • Acceptance Rate – 29.9%

Learn more about the UVA Darden MBA program!


15. Cornell University (Johnson)

  • Cornell’s MBA emphasizes real-world situations, from internships to use of case studies.
  • Location: Ithaca, NY
  • Average GMAT – 704
  • Average GPA – 3.34
  • Acceptance Rate – 29.5%

Learn more about the Cornell Johnson MBA program!


16. Carnegie Mellon University (Tepper)

  • The four mini-semesters per academic year permit Tepper students to take more courses than do many of their peers.
  • Location: Pittsburgh, PA
  • Average GMAT – 691
  • Average GPA – 3.35
  • Acceptance Rate – 29.7%

Learn more about the Carnegie Mellon Tepper MBA program!


17. University of California–Los Angeles (Anderson)

  • UCLA Anderson places graduates in top consulting and investment bank positions.
  • Location: Los Angeles, CA
  • Average GMAT – 713
  • Average GPA – 3.47
  • Acceptance Rate – 29.8%

Learn more about the UCLA Anderson MBA program!


18. University of Texas–Austin (McCombs)

  • UT is known for its highly rated accounting and information systems programs.
  • Location: Austin, TX
  • Average GMAT – 708
  • Average GPA – 3.48
  • Acceptance Rate – 35.5%

Learn more about the Austin McCombs MBA program!



20. University of Southern California (Marshall)

  • USC Marshall is known for its International programs and study opportunities.
  • Location: Los Angeles, CA
  • Average GMAT – 716
  • Average GPA – 3.6
  • Acceptance Rate – 23%

Learn more about the USC Marshall MBA program!


21. Emory University (Goizueta)

  • Emory is known for its comprehensive curriculum that goes beyond academics.
  • Location: Atlanta, GA
  • Average GMAT – 692
  • Average GPA -3.36
  • Acceptance Rate – 53.1%

Learn more about the Emory University (Goizueta) MBA program!


22. Georgetown University (McDonough)

  • Georgetown McDonough is known for its international and governmental relationships.
  • Location: Washington, D.C.
  • Average GMAT – 704
  • Average GPA – 3.35
  • Acceptance Rate – 48.1%

Learn more about the Georgetown University (McDonough) MBA program!


23. Indiana University (Kelley)

  • US News, Fortune, Bloomberg, and others have repeatedly ranked Kelley’s entrepreneurship program #1.
  • Location: Bloomington, IN
  • Average GMAT- 679
  • Average GPA – 3.33
  • Acceptance Rate – 31.5%

Learn more about the Indiana University (Kelley) MBA program!


24. University of Washington (Foster)

  • UW is known for its collaborative learning, which includes core study teams
  • Location: Seattle, WA
  • Average GMAT – 704
  • Average GPA – 3.42
  • Acceptance Rate – 35.2%

Learn more about the University of Washington (Foster) MBA program!


25. University of Notre Dame (Mendoza)

  • University of Notre Dame is known for its flexible and rigorous program, and values-based learning focusing on integrity.
  • Location: Notre Dame, IN
  • Average GMAT – 668
  • Average GPA – 3.34
  • Acceptance Rate – 41.6%

Learn more about the University of Notre Dame (Mendoza) MBA program!

Note: This report’s rankings take into account such criteria as program assessments by peers and recruiters, graduate employment rates and placement successes, mean starting salaries for graduates, student selectivity, the mean GRE and GMAT scores of accepted applicants, and the program’s acceptance rate.

The above schools above accept the GMAT or GRE. However, check with each individual program before applying, as more schools are quickly becoming open to different tests. These tests includes the Executive Assessment (EA), or in some cases, the LSAT or MCAT!  Acceptable tests vary significantly by school and program, so it is worth doing a bit of research before deciding on which test you will take.

Getting Into Top MBA Programs

So you’ve decided that an MBA is worth it for you—what next? If you’re applying to the top MBA schools, you’ll need to work on polishing the parts of your application that you can still control.

GPA, Scores, and Other Factors

Because most students applying to MBA programs have full-time work experience, it’s likely that your college days are behind you.  If you’ve been in the business world for more than a few years, you might also want to check out an executive MBA.

To some extent, the schools to which you choose to apply will depend on your undergraduate GPA and test scores.  Undergraduate GPA and test scores are two of the most important factors in admissions.  However, if your GMAT or GPA isn’t in the range of the top 10 MBA programs’ averages, that doesn’t necessarily mean that you shouldn’t apply!  It does mean that you’ll need  to compensate for this elsewhere in your application.  The application factors within your control include GMAT or GRE scores, getting strong letters of recommendation, and writing outstanding essays.  You may also  want to explore other options, such as less selective schools, or explore in person and online MBAs with no GMAT requirement.

How important are MBA rankings?

MBA program rankings are important since prospective employers care about them, meaning you are more likely to be hired after your degree if you’ve attended a well-ranked business school. Your salary is likely to be higher as well. A smart MBA applicant calculates their potential return on investment on each MBA program before applying, and a better-ranked school will often turn out to be a better investment than attending a similar program at a lower-ranked or lesser-known school.

You should also pay close attention to a school that ranks well for a specific specialization, such as marketing, entrepreneurship, finance, supply chain management, etc. This is usually a sign that the school makes an effort to lead in that field and has been focusing on the subject in question for a long period of time. Employers watch these MBA rankings too and are likely to seek new employees from schools that specialize in the relevant fields.

Finding an MBA program that’s a good fit for you takes some work. You will want to consider the specifics of each program — things like location, cost, size, student body, reputation, and other factors that are particular to you.  Plus, you’ll want to factor in your personal goals, and where you’d like to see yourself, career-wise, in five and ten years to find the programs that fit you best.  With some research and self-reflection, you’ll be able to do it. Good luck!

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Most Popular Resources

  • Rachel Kapelke-Dale

    Rachel is one of Magoosh’s Content Creators. She writes and updates content on our High School and GRE Blogs to ensure students are equipped with the best information during their test prep journey. As a test-prep instructor for more than five years in there different countries, Rachel has helped students around the world prepare for various standardized tests, including the SAT, ACT, TOEFL, GRE, and GMAT, and she is one of the authors of our Magoosh ACT Prep Book. Rachel has a Bachelor of Arts in Comparative Literature from Brown University, an MA in Cinematography from the Université de Paris VII, and a Ph.D. in Film Studies from University College London. For over a decade, Rachel has honed her craft as a fiction and memoir writer and public speaker. Her novel, THE BALLERINAS, is forthcoming in December 2021 from St. Martin’s Press, while her memoir, GRADUATES IN WONDERLAND, co-written with Jessica Pan, was published in 2014 by Penguin Random House. Her work has appeared in over a dozen online and print publications, including Vanity Fair Hollywood. When she isn’t strategically stringing words together at Magoosh, you can find Rachel riding horses or with her nose in a book. Join her on Twitter, Instagram, or Facebook!

  • Thomas J. Miller

    Few people are as familiar with the ins and outs of the GMAT’s sections as is Tom Miller. Since 1995, when the exam was pencil and paper only, Tom has designed, taught, and edited programs for several international test prep companies and MBA programs to address each change in the exam’s content and format. His students have gone on to graduate from many of the world’s top MBA programs.
    Tom has authored an acclaimed GMAT grammar crash course, “Verbal Boot Camp”, and has a long track record of helping the “math-phobic” successfully get their scores up to the level required to succeed in business school. He has also helped many students get the superior scores required for scholarships and admission to the world’s top MBA programs.
    Tom’s business school experience goes beyond the particulars of the GMAT. He has taught Economics and Statistics as an Executive in Residence and Adjunct Professor at the Butler University MBA program and taught Business Business Law at Stenden University in Qatar, where he was the faculty Senior Lecturer.
    Tom has won numerous awards for his publications on leadership, core values, and peak performance in “Proceedings” of the US Naval Institute and is the first enlisted man to win the Navy League of the United States’ Alfred Thayer Mahan Award for Literary Achievement.
    Tom holds degrees in English, German, and Art History from Indiana University, and a law degree from the Cleveland Marshall College of law. You can connect with him on LinkedIn for further information.


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