A graduating class of EMBA students from Fordham University’s Gabelli School of Business. Courtesy photo
The prospective upsides of an executive MBA are appealing: A higher salary, possible promotion, and a clear pathway to the C-suite.
The most recent Student Exit Survey from the Executive MBA Council found students exiting an EMBA program in 2023 reported getting an average 23% raise by graduation. Another 42% reported getting a promotion. There’s also the personal and professional self-reflection many candidates at top programs claim to be among the most valuable aspects of the experience.
But there are certainly downsides as well. Namely: cost.
No matter where you choose to pursue an executive MBA, you’re going to shell out tens of thousands of dollars. At the top programs, you’re talking hundreds of thousands.
AVERAGE COST FOR A TOP 10 PROGRAM IS $196,000
Every school in the top 10 of Poets&Quants For Execs’ composite 2023 Executive MBA Ranking has a price tag over $150,000. No. 1 ranked University of Chicago Booth School of Business, for example, now costs a whopping $204,450 for its 22-month EMBA. And it’s not even the most expensive.
That honor goes to Columbia Business School at $239,880. CBS tied for 15th in our 2023 ranking because it was not ranked by the most recent Financial Times’ EMBA ranking. (P&Q’s EMBA ranking of U.S. programs uses a composite approach to smooth out fluctuating results from other ranking methodologies. Schools that don’t participate in all three of the rankings we consider – U.S. News & World Report, The Financial Times, and Fortune Magazine – are dinged in our methodology.)
No. 4 Northwestern University’s Kellogg School of Management will set you back $231,174 while No. 2 University of Pennsylvania’s Wharton School costs $231,174. In fact, the average cost of the ranking’s Top 10 schools is $196,803.
Not pocket change, in other words.
EMBA ROI BARGAINS
However, if you’re looking for a better return on your initial investment, there are deals to be found. We have scoured through school websites to find the tuition data on all of the 66 schools on our latest ranking.
And, we’ve uncovered a couple of gems. These include six top-25 ranked EMBAs that cost nearly half of the big brand schools.
Below, we bring you the 12 of the best P&Q-ranked executive MBA programs costing less than $115,000.
1. Fordham Gabelli School of Business
- Tuition: $114,000
- P&Q Rank: 12
- Location: New York City
The 22-month accelerated format is designed for working professionals, requiring one three-day weekend on campus per month.
Gabelli’s EMBA features a globally-focused concentration in management and strategy and access to a global alumni network numbering 40,000. The program is cohort based and students complete a global capstone. Experience-based team projects on leadership are program cornerstones.
“Significant teamwork! I have been a team captain in the NFL for 13 years leading men into battle against the world’s best for sport,” Robert Griffith, a retired NFL all-pro and EMBA candidate from 2023, tells Poets&Quants.
“I have never been a member of a group of women and men so diverse, motivated, skilled and determined to achieve success than my EMBA Cohort. It has been a life-changing experience that I will embrace forever.
The Financial Times ranked it No. 83 in its Global Executive MBA ranking for 2023-2024 and it was 18th on the U.S. News & World Report ranking of U.S. programs.
2. Texas A&M University’s Mays Business School
- Tuition: $99,500 for Texas residents
- P&Q Rank: No. 17
- Location: Houston, Texas
Mays’ 21-month program is a mix of in-person and live online classes designed for seasoned executives with 10 years or more of professional experience and seven years of managerial experience. Classes are held every other weekend.
Beyond the opening residency week on Mays campus in College Station, executive MBAs take a four-day immersion in Washington, D.C., and complete a self-selected capstone project.
“I chose the Texas A&M EMBA program because I was ready to be challenged in ways that would help me grow professionally. I expected that this EMBA program would challenge me,” says Kizzie Davis, Mays EMBA ‘23.
“Not only was I challenged, but I was also transformed. The Texas A&M EMBA has a motto of ‘You, only better,’ and that is what you experience throughout the entire program.”
Financial Times ranked it No. 14 for U.S. based EMBA programs in its latest global ranking while Fortune Magazine ranked it No. 12.
3. University of Tennessee at Knoxville’s Haslam College of Business
- Tuition: $79,000 to $90,000 depending on program
- P&Q Rank: 22
- Location: Knoxville, Tennessee
Haslam offers four accelerated executive MBA programs each lasting one year: Global Supply Chain, Healthcare Leadership, Strategic Leadership, and a program for physicians. Cost varies between $79,000 and $90,000 depending on which you choose.
Each program is formatted through a mix of online and in-person classes. There are four in-person residencies in the Global Supply Chain program – two at Haslam and two at international supply chain hubs – with asynchronous distance learning in between. The Strategic Leadership EMBA, meanwhile, averages five out-of-office days per quarter.
Financial Times ranked it No. 21 for U.S. based EMBA programs in its latest global ranking while Fortune Magazine ranked it No. 22.
4. Rutgers Business School
- Tuition: $105,288
- P&Q Rank: 23
- Location: Newark, New Jersey
Though not in New York City exactly, Rutgers Business School offers one of the strongest EMBA programs in the New York metro area. (It’s about a 25-minute train ride from NYC to Newark, less than many executives’ daily commutes.) And, it’s relatively affordable.
Rutgers’ 20-month, in-person program is called The Powerhouse for its mantra: “outperform, hit harder.” Classes are held on alternate Saturdays and Sundays. It also has a weeklong residency at the start of each semester and a 10-day summer international immersion. It offers specialized concentration options in finance, supply chain management, marketing and more.
“After serving in the United States Marine Corps and achieving the rank of Staff Sergeant, the program has given me the added skillsets needed to transition my military experience to that of an executive leader within corporate America,” Subhash Durga, EMBA ‘23, tells P&Q.
“Leadership is what I am most passionate about, and throughout the journey of obtaining my Executive MBA, I learned different strategies and tactics to lead. I am forever grateful to my peers in my cohort for continuing to inspire me, and the professors who enlightened our minds.”
Learn more in our EMBA Spotlight on Rutgers’ Powerhouse.
Next Page: More top-ranked EMBAs for under $115K
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