Data Dive: 2024 MBA Salaries, Bonuses & Job Placement Rates At 30 Top-Ranked B-Schools

AVERAGE & MEDIAN MBA SALARIES AT 30 TOP U.S. B-SCHOOLS: 2020-2024

2025 P&Q Rank	School	Average Starting Base Salary (MBA Class of 2024)	Average Starting Base Salary (2023)	2-Year Salary Change	% Change	Average Starting Base Salary (2022)	Average Starting Base Salary (2021)	Average Starting Base Salary (2020)	5-Year Salary Change	% Change
1	Northwestern (Kellogg)*	$170,000	$175,000	-$5,000	-2.9%	$165,000	$150,000	$144,000	$26,000	18.1%
2	Stanford GSB	$187,504	$189,010	-$1,506	-0.8%	$182,272	$161,831	$159,544	$27,960	17.5%
3	Chicago (Booth)*	$175,000	$180,000	-$5,000	-2.8%	$175,000	$155,000	$150,000	$25,000	16.7%
4	Harvard Business School*	$175,000	$175,000	None	None	$175,000	$150,500	$150,000	$25,000	16.7%
5	Virginia (Darden)	$163,710	$167,899	-$4,189	-2.5%	$157,090	$144,933	$139,945	$23,765	17.0%
6	Dartmouth (Tuck)**	$175,000	$175,000	None	None	$175,000	$142,719	$143,867	NA	NA
7	Columbia*	$175,000	$175,000	None	None	$175,000	$150,000	$150,000	$25,000	16.7%
8	Yale SOM*	$160,000	$175,000	-$15,000	-8.6%	$160,110	$140,400	$140,000	$20,000	14.3%
9	Cornell (Johnson)	$161,967	$162,808	-$841	-0.5%	$155,048	$139,121	$138,767	$23,200	16.7%
10	Duke (Fuqua)**	$175,000	$175,000	None	None	$160,055	$141,109	$135,935	NA	NA
11	NYU (Stern)	$166,148	$168,182	-$2,034	-1.2%	$161,475	$149,524	$143,858	$22,290	15.5%
12	Penn (Wharton)*	$175,000	$175,000	None	None	$175,000	$155,000	$150,000	$25,000	16.7%
13	MIT (Sloan)	$169,370	$168,095	+$1,275	+0.8%	$159,391	$148,075	$144,140	$25,230	17.5%
14	UCLA (Anderson)	$146,526	$151,140	-$4,614	-3.1%	$146,727	$135,273	$132,460	$14,066	10.6%
15	CMU (Tepper)	$151,215	$156,291	-$5,076	-3.2%	$148,067	$134,847	$135,035	$16,180	12.0%
16	Texas-Austin (McCombs)	$151,178	$157,735	-$6,557	-4.2%	$144,564	$129,854	$128,586	$22,592	17.6%
17	UC-Berkeley (Haas)	$159,412	$162,831	-$3,419	-2.1%	$152,831	$143,696	$139,423	$19,989	14.3%
18	UNC (Kenan-Flagler)	$140,490	$146,779	-$6,289	-4.3%	$133,517	$125,687	$126,957	$13,533	10.7%
19	Washington (Foster)	$151,116	$151,322	-$206	-0.2%	$147,340	$130,407	$125,474	$25,642	20.4%
19	Georgia Tech (Scheller)	$146,260	$154,679	-$8,419	-5.4%	$136,819	$123,843	$121,045	$25,215	20.8%
21	Washington (Olin)	$126,773	$132,744	-$5,971	-4.5%	$117,687	$115,478	$113,822	$12,951	11.4%
22	USC (Marshall)	$144,442	$150,081	-$5,639	-3.8%	$150,314	$130,976	$132,844	$11,598	8.7%
23	Emory (Goizueta)	$153,868	$152,317	+$1,551	+1.0%	$149,759	$134,700	$130,112	$23,756	18.3%
24	Notre Dame (Mendoza)	$136,573	$130,000*	NA	NA	$130,000*	$120,950	$116,500	$20,073	17.2%
25	Georgetown (McDonough)	$146,033	$149,256	-$3,223	-2.2%	$138,552	$126,107	$128,162	$17,871	13.9%
26	Rice (Jones)	$147,831	$149,521	-$1,690	-1.1%	$142,212	$131,384	$123,786	$24,045	19.4%
28	Rochester (Simon)**	$129,093	$140,445	-$11,352	-8.1%	$130,000	$123,000	$120,000	NA	NA
29	Michigan (Ross)*	$170,000	$175,000	-$5,000	-2.9%	$165,000	$144,000	$135,000	$35,000	25.9%
30	Vanderbilt (Owen)	$150,246	$154,052	-$3,806	-2.5%	$139,711	$125,130	$126,137	$24,109	19.1%
34	Indiana (Kelley)**	$135,742	$137,500	NA	NA	$130,000	$120,000	$119,000	NA	NA

*Median **Simon started reporting average salaries in 2023 … Tuck started reporting medians in 2022 … Fuqua started reported medians in 2022 … Kelley started reporting mean salary in 2024

Source: Business school employment reports

AVERAGE & MEDIAN MBA BONUSES AT 30 TOP U.S. B-SCHOOLS: 2020-2024

2025 P&Q Rank	School	Average Sign-On Bonus (2024)	Average Sign-On Bonus (2023)	2-Year Bonus Change	Average Sign-On Bonus (2022)	Average Sign-On Bonus (2021)	Average Sign-On Bonus (2020)	5-Year Bonus Change
1	Northwestern (Kellogg)*	$30,000	$30,000	None	$30,000	$30,000	$30,000	None
2	Stanford GSB	$33,967	$42,249	-$8,282	$33,684	$29,148	$32,551	+$1,416
3	Chicago (Booth)*	$31,000	$33,000	-$2,000	$30,000	$35,000	$30,000	+$1,000
4	Harvard Business School*	$30,000	$30,000	None	$30,000	$30,000	$30,000	None
5	Virginia (Darden)	$34,562	$37,588	-$3,026	$34,749	$35,488	$33,266	+$1,296
6	Dartmouth (Tuck)	$30,000*	$30,000*	None	$30,000*	$33,745	$34,171	NA
7	Columbia*	$30,000	$30,000	None	$30,000	$30,000	$30,300	-$300
8	Yale SOM*	$30,000	$30,000	None	$30,000	$30,000	$30,000	None
9	Cornell (Johnson)	$38,438	$38,826	-$388	$38,310	$37,684	$36,391	+$2,047
10	Duke (Fuqua)**	$30,000	$30,000	None	$35,456	$34,958	$35,032	NA
11	NYU (Stern)	$37,028	$38,192	-$1,164	$40,936	$38,211	$37,892	+$864
12	Penn (Wharton)*	NA	NA	NA	NA	$30,000	NA	NA
13	MIT (Sloan)	$35,900	$38,989	-$3,089	$30,000*	$30,000*	$30,000*	NA
14	UCLA (Anderson)	$33,698	$36,174	-$2,476	$33,897	$29,877	$31,329	+$2,369
15	CMU (Tepper)	$38,060	$40,139	-$2,079	$38,956	$30,399	$33,463	+$4,597
16	Texas-Austin (McCombs)	$31,003	$32,915	-$1,912	$31,178	$28,153	$31,698	-$695
17	UC-Berkeley (Haas)	$34,740	$36,777	-$2,037	$33,418	$33,775	$31,330	+$3,410
18	UNC (Kenan-Flagler)	$33,422	$34,555	-$1,133	$30,359	$29,751	$29,588	+$3,834
19	Washington (Foster)	$39,283	$44,537	-$5,254	$40,657	$39,283	$36,380	+$2,903
19	Georgia Tech (Scheller)	$29,405	$28,245	+$1,160	$26,749	$25,066	$25,040	+$4,365
21	Washington (Olin)	$37,748	$26,800	+$10,948	$29,129	$27,487	$26,949	+$10,799
22	USC (Marshall)	$32,524	$32,531	-$7	$37,218	$29,473	$28,673	+$3,851
23	Emory (Goizueta)	$36,530	$33,945	+$2,585	$33,987	$29,151	$28,076	+$8,454
24	Notre Dame (Mendoza)*	$30,000	$35,000	-$5,000	$30,000	$25,000	NA	NA
25	Georgetown (McDonough)	$33,854	$43,325	-$9,471	$36,342	$34,073	$34,707	-$853
26	Rice (Jones)	$33,166	$33,909	-$743	$35,879	$33,221	$33,828	-$662
28	Rochester (Simon)**	$26,470	$38,941	-$12,471	$33,250	$36,000	$34,500	NA
29	Michigan (Ross)*	$30,000	$30,000	None	$30,000	$30,000	$30,000	None
30	Vanderbilt (Owen)	$34,849	$34,591	+$258	$34,636	$27,651	$26,991	+$7,858
34	Indiana (Kelley)**	$32,232	$30,000	NA	$30,000	$30,000	$25,000	NA