MBA students outside Goizueta

AVERAGE BASE

Take sign-on bonuses and incentives off the table. Which graduates collect the most guaranteed money? That would be Stanford GSB. Factor in graduates who land work in Latin America, Europe, and Asia and GSB earn $190,109 to start. At a $157,961 starting base in 2025, Emory Goizueta punched above its weight, out-earning high-ranked programs like Carnegie Mellon Tepper and Texas McCombs. In contrast, despite climbing to 38th in U.S. News, Iowa State Ivey grads are the lowest paid grads in the Top 50 at $77,711.

U.S. News Rank	School	2025 Low Base	2024 Base Low	2023 Base Low	2025 Base Average	2024 Base Average	2023 Base Average	2025 Base High	2024 Base High	2023 Base High
1	Stanford	NA	NA	$80,000	$190,109	$187,504	$189,010	NA	NA	$500,000
2	Wharton	$60,000	$57,000	$13,460	$179,909	$173,273	$175,828	$450,000	$300,000	$350,000
3	University of Chicago (Booth)	$70,000	$73,000	$70,000	$172,309	$172,696	$173,310	$400,000	$400,000	$300,000
4	Northwestern (Kellogg)	$67,113	$60,000	$85,000	$167,151	$163,494	$169,698	$250,000	$260,000	$450,000
4	Harvard	$48,000	$30,000	$36,590	$180,899	$172,342	$171,740	$470,000	$375,000	$425,000
6	MIT (Sloan)	$45,000	$105,000	$75,000	$173,132	$169,370	$168,095	$300,000	$396,840	$550,000
7	New York University (Stern)	$50,000	$80,000	$85,000	$168,970	$166,148	$168,182	$400,000	$225,000	$225,000
7	Columbia	$55,000	$41,142	$50,000	$170,524	$165,557	$168,835	$450,000	$350,000	$309,000
9	Dartmouth (Tuck)	$65,955	$100,000	$100,000	$168,328	$168,107	$170,824	$284,000	$225,000	$275,000
10	California-Berkeley (Haas)	$66,500	$59,305	$59,379	$164,930	$159,412	$162,831	$300,000	$250,000	$240,000
11	Yale SOM	$40,300	$53,086	$77,000	$161,523	$153,131	$165,207	$239,000	$208,000	$215,000
11	Virginia (Darden)	$66,000	$33,849	$69,261	$162,578	$163,710	$167,899	$235,000	$225,000	$225,000
13	Michigan (Ross)	$65,033	$79,420	$104,631	$159,272	$159,934	$162,946	$245,000	$300,000	$300,000
14	Duke (Fuqua)	$90,000	$70,000	$61,213	$158,169	$162,890	$162,834	$200,000	$250,000	$225,000
15	Cornell (Johnson)	$60,000	$60,000	$71,500	$158,426	$161,967	$162,808	$225,000	$225,000	$200,000
16	Carnegie Mellon (Tepper)	$54,000	$80,000	$80,000	$154,846	$151,215	$156,291	$207,000	$215,000	$210,000
16	Vanderbilt (Owen)	$70,000	$75,000	$50,000	$148,823	$150,246	$154,042	$225,000	$192,500	$192,000
18	Texas (McCombs)	$65,000	$65,000	$48,000	$154,053	$151,178	$157,735	$225,000	$192,000	$225,000
18	UCLA (Anderson)	$31,709	$63,796	$61,984	$153,566	$146,526	$151,140	$250,000	$208,000	$215,000
20	University of Washington (Foster)	$83,000	$95,000	$87,400	$144,411	$151,116	$151,322	$192,000	$193,000	$198,634
21	Indiana (Kelley)	$84,000	$70,000	$53,500	$133,129	$135,742	$140,486	$90,000	$205,000	$215,000
21	North Carolina (Kenan Flagler)	$45,221	$36,158	$53,721	$139,637	$140,490	$146,779	$225,000	$192,000	$249,600
23	Emory (Goizueta)	$90,000	$30,000	$31,200	$157,961	$153,868	$152,317	$225,000	$194,000	$192,000
23	Texas-Dallas (Jindal)	$90,000	$90,000	$85,000	$119,237	$126,078	$108,057	$158,000	$190,000	$130,000
25	USC (Marshall)	$75,000	$43,200	$50,000	$142,184	$144,442	$150,081	$220,000	$192,000	$200,000
25	Georgia (Terry)	$83,000	$72,000	$90,000	$121,275	$122,572	$192,000	$192,000	$200,000	$175,000
27	Georgia Tech (Scheller)	$80,000	$45,760	$69,996	$136,378	$146,260	$154,679	$192,000	$312,000	$249,600
27	Washington U. (Olin)	$25,499	$73,500	$55,500	$110,181	$126,773	$132,744	$169,100	$200,000	$192,000
29	Rice (Jones)	$40,000	$83,200	$60,000	$146,381	$147,831	$149,521	$230,000	$195,000	$225,000
29	Arizona State (Carey)	$70,000	$60,000	$85,000	$121,116	$107,220	$126,618	$169,100	$175,000	$188,000
31	Georgetown (McDonough)	$27,465	$51,366	$66,636	$146,265	$146,033	$149,256	$192,000	$200,000	$200,000
32	Ohio State (Fisher)	$70,000	$40,000	$77,000	$119,197	$123,525	$129,409	$192,000	$190,000	$192,000
32	Minnesota (Carlson)	$60,000	$60,000	$60,000	$135,058	$131,208	$141,471	$192,000	$195,000	$192,000
34	Notre Dame (Mendoza)	$58,000	$68,500	$30,000	$139,148	$136,573	$136,507	$190,000	$192,000	$192,000
34	Rochester (Simon)	$80,004	$75,000	$100,000	$130,821	$129,093	$140,445	$190,000	$192,000	$192,000
36	SMU (Cox)	$65,000	$70,000	$60,000	$125,640	$132,347	$134,593	$190,000	$190,000	$192,000
36	Texas A&M (Mays)	$65,000	$77,000	$50,200	$128,692	$133,075	$128,905	$212,600	$175,000	$175,000
38	Iowa State (Ivy)	$53,400	$55,000	$36,000	$77,711	$79,898	$74,952	$96,000	$110,240	$100,000
39	Florida (Warrington)	$70,391	$50,000	$85,000	$126,392	$118,991	$128,333	$192,000	$192,000	$192,000
39	BYU (Marriott)	$65,000	$55,000	$60,000	$122,844	$120,881	$118,466	$225,000	$175,000	$180,000
39	Utah (Eccles)	$75,000	$57,000	$62,500	$105,540	$108,623	$115,129	$152,250	$175,000	$169,100
39	University of Miami (Herbert)	$78,000	$60,000	NA	$116,500	$96,274	NA	$260,000	$192,000	NA
43	Michigan State (Broad)	$80,000	$85,000	$50,000	$110,438	$119,750	$119,385	$156,600	$175,000	$190,000
43	Maryland (Smith)	$82,000	NA	$60,000	$119,175	NA	$130,341	$170,000	NA	$160,000
43	Tennessee (Haslam)	$72,500	$63,700	$68,000	$112,560	$113,879	$110,914	$175,000	$175,000	$175,000
46	American University (Kogod)	$50,000	NA	NA	$116,540	NA	NA	$180,000	NA	NA
46	Boston U. (Questrom)	$43,000	$61,250	$65,000	$114,998	$118,566	$124,277	$175,000	$175,000	$194,400
48	Wisconsin	$22,736	$62,400	$43,131	$104,948	$119,794	$124,313	$175,000	$175,000	$186,000
48	Pittsburgh (Katz)	$75,000	$85,000	$65,000	$98,432	$114,777	$117,555	$146,000	$192,000	$170,000
48	Arkansas (Walton)	$50,000	$45,000	NA	$80,889	$81,946	NA	$95,500	$105,000	NA
51	UC Irvine (Merage)	$62,400	$80,000	$75,000	$124,427	$130,079	$122,201	$142,800	$200,000	$169,100

DON’T MISS:

MBA PAY BY REGION: HERE’S HOW MUCH YOU’RE WORTH

CONSULTING PAY: WHAT MBAS EARNED IN 2025

HOW U.S. NEWS RANKS BUSINESS SCHOOLS BY MBA SPECIALIZATION IN 2026

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