Which Boston MBA Programs Offer the Best Return on Investment?
A stellar résumé, well-targeted recommendation letters, and a strong GMAT score may be vital in earning a spot in your dream business school, but one factor that may weight heavier than everything else is the return on investment. Will the school be worth it? How successful are its alumni? How do employers feel about the school name on a diploma?
A person needs to know that their time—and money—will amount to success and a well-paying job. If Boston‘s the city for you, here are the top four business schools if return on investment, or ROI for short, is on your mind.
#1) Harvard Business School
This prestigious university might come as no surprise as first on our list. But it’s not at the top for nothing. Home of one of the world’s first MBA programs, Harvard Business School is a bit separate from the main campus itself in Cambridge, sitting in Boston’s Allston neighborhood.
Unsurprisingly, the program’s ROI is highly-competitive. Tuition at HBS currently costs around $72,000. That’s a lot more than how much a student might pay per year elsewhere, even without considering the usually stellar track record of HBS grads. Graduates in 2016 had median base salaries of $135,000 with a median signing bonus of $25,000. Sixty-eight percent received a signing bonus. That’s a lot of people. And it’s a pretty sure thing. Work hard at Harvard, and it appears you’re sure to reap the benefits.
READ MORE: HBS Announces Largest-Ever Scholarship Donation
#2) Sloan School of Management – MIT
At MIT’s Sloan School of Management, students can feel certain they’ll succeed after graduation. Individuals, of course, may determine their own success, but Sloan knows how to get its students there. The school is known for its business offerings, particularly its global Sloan Fellows program. There, students can walk away with an executive MBA in just one year. Sloan has been growing its educational base since 1914 when its “Engineering Administration” course set a business tone in the technical school.
Currently, tuition at MIT Sloan sits at $71,000, which isn’t much less than Harvard’s. The median base salary for 2016 graduates was $125,000, with salary ranging anywhere from $40,000 to $200,000.
The business school can provide a myriad of opportunities, especially through its various centers and initiatives, which focus on, science, innovation, medical research, and more.
#3) D’Amore-McKim School of Business – Northeastern University
This business school is tucked in Boston’s arts neighborhood, the Fenway Cultural District. Northeastern University offers multiple campuses, but the MBA programs take place at the D’Amore-McKim School of Business.
MBA students pay the same tuition for classes online or in person: $1,560 per credit hour. For a year, that’s roughly $28,080—significantly less than the aforementioned Harvard and MIT. So if you’re not ready or can’t afford to drop a bunch of money on costs, D’Amore-McKim might be the program for you. Its graduates go on to make $81,000 a year, which is nearly 66 percent more than yearly tuition. The top base salary for recent alumni is $115,000.
These employment opportunities come quickly: 96 percent of D’Amore-McKim alumni accept a job offer within three months of graduation.Companies like Zipcar and Hasbro, Inc., hired graduates last year. Resources like the Graduate Career Center and the school’s clubs can help students make it. Clubs like the Emerging Markets Club gives students the hands-on experience they need to succeed.
#4) Questrom School of Business – Boston University
The Questrom School of Business at Boston University offers a variety of MBA programs. The first was launched in 1925, but the school went on to add an executive MBA, public and nonprofit MBAs, evening MBAs, and health sector MBAs.
A full-time MBA tuition costs $51,916 at Boston University. The prices vary depending on which program a student decides is right for them, which contributes to the school’s placement on the list. For example, the executive MBA costs nearly double the traditional MBA rate. However, alumni do go on to make that money back. In 2016, graduates’ mean base salary was $100,820. About 92 percent of graduates accepted a job offer just three months after earning a degree, with nearly all taking an internship. Places like General Motors and IBM hired recently hired Questrom grads.
You could be next. But it’s up to you to decide what school makes the most sense for you. You’re onto something with Boston though. The seafood will never end, and the accents will always entertain. Find the city’s best executive MBA program or explore its one-year MBAs if you need just a little bit more info.
The Best MBA Return on Investment in the Houston Metro
One of the top things an MBA looks for when choosing a business school is the return on investment. Return on investment, or ROI, is one of the most common profitability ratios, and an easy way to determine if an MBA is “worth” your time and money. We took a look at the Houston metro, and ranked the top business schools in the area based on their ROI, comparing average starting salaries with tuition costs. Continue reading…
The Return on Investment of the Rady MBA
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The constantly changing landscape of business means that those who stand still fall behind. To be successful, business professionals must constantly pursue new knowledge, skills, and experiences. They must also immerse themselves in innovation and invest in their career. One of the best ways to do all of this: earn an MBA.
Sloan Director Talks Sweet Spot of Product Platforms
MIT Sloan School of Management recently published an article that conveniently breaks down what it takes to make product platforms succeed, often by “matchmaking” and sharing assets across different offerings. There are assorted challenges associated with developing the necessary assets to launch successful product platforms. MIT’s System Architecture lab director Bruce Cameron, who teaches a course on managing product platforms, puts it simply: “Platforms take a lot of work to get right.”
He explainss that “most companies fail to achieve return on investment on their platform investments” but successful product platforms have the potential to “grow revenue and enter niche markets.”
Take BMW for instance, which reused “gear boxes and other parts across models” and re-purposed the extra cash to “develop 30 percent more vehicle models without substantially growing its engineering workforce.”
Cameron explains that one advantage to a software company—to use another example—opting to reuse part of its code in 10 places is a “reduction in risk,” which will in turn generate a “higher-quality software product across the board.”
Platforms that opt to reduce their risk are faced with a double-edged sword. Cameron cites Volkswagen’s decision to install the same 2.0 liter diesel engine across multiple vehicle models, which saved significant money in the short-term. But it was discovered that the German manufacturer illegally tampered with its own internal software, suppressing the real fuel emissions of its diesel engine cars. The result may end up costing the company billions in settlement costs just in the U.S.
“The idea that this is an engineering or procurement or manufacturing initiative is flawed,” he says.
There are four common pitfalls, according to Cameron: “Forcing platform development down into one product, neglecting to articulate the value of shared benefits, evaluating returns prematurely and attempting to move to platforms without undertaking the necessary underlying organizational changes.”
Cameron says stable product platforms that offer consumer customization options often prevail. The trick is hit that “sweet spot,” like a uniform-sized home appliance available in different colors.
The ROI of the MBA
That’s probably the first question that came to mind when you thought about going back to school. It’s not an easy question, and there’s not an easy answer.
Return on investment — the ROI of the MBA — is multi-faceted. You not only have to look at your salary to debt ratio, but you also have to consider the time investment, career progress, network, and even skills and lessons learned. Continue reading…
Leavey Ranked No. 4 for ROI
The Leavey School of Business has been ranked no. 4 in the country for return on a student’s college investment by PayScale. PayScale’s College ROI rankings are based on a “20 Year Return on Investment,” measured as the additional salary over 20 years that a graduating student would earn above that of a high-school graduate, after subtracting the cost of the education. Santa Clara business majors reported a median 20-year ROI of $756,200, which is the fourth-best in the nation.
A degree from Santa Clara University was ranked in the top 5 percent in the survey for return on investment. The school was ranked no. 51 out of 1223 colleges or universities that were ranked by PayScale. Among the 407 private, nonprofit institutions on the list, Santa Clara’s ROI ranked no. 27, which is in the top 7 percent of the rankings. Among 81 California schools, SCU was ranked at no. 9, which is part of the top 12 percent.
