Northwestern University's Kellogg School of Management and Stanford are tied for second place, with Kellogg rising from third position last year.
The University of Chicago Booth School of Business has dropped from third to fourth place, while MIT Sloan School of Management holds steady in fifth place.
US News & World Report ranks the best business schools in the USA each year based on metrics including graduate salaries and bonuses, employment rates, GMAT scores and GPAs, and MBA acceptance rates.
Best business schools in the USA: M7 business schools dominate the top 10
The top five schools that make up the best business schools in the US are all members of the elite group known as the M7 business schools.
The other members of that club, Harvard Business School, and Columbia Business School, sit in joint sixth and ninth place. The M7 are widely regarded as being among the best business schools in the world.
Elsewhere in the top 10 are Dartmouth Tuck and NYU Stern School of Business sharing sixth place with Harvard, while Yale School of Management ranks 10th in the US, according to US News.
The success of this year’s winner, Wharton, can be put down to its impressive performance across several key areas measured in the ranking. While the school doesn’t lead in any single category, it ranks near the top across the board—from high average salaries and strong employment outcomes to competitive GMAT scores.
According to US News, Wharton graduates earn $200,724 in salary and bonus on average. The school also reports a 90.4% employment rate three months after graduation—the second-highest in the top 10 and only marginally behind Dartmouth Tuck, which leads with 90.7%.
Stanford and Northwestern’s Kellogg School of Management share joint second place this year. Stanford continues to report the highest salary and bonus figures overall at $206,955, while Kellogg stands out for its strong employment rate and solid academic profile, with a median GPA of 3.8—the highest in the top 10 alongside Stanford.
The US News MBA ranking can be viewed as the most definitive list of the best business schools in the USA.
US News top 10 MBA programs in the US
*Equivalent to 685-695 under the updated GMAT scoring | **Equivalent to 675-685 under the updated GMAT scoring.
Graduates from joint third-placed Chicago Booth earn an average salary and bonus of $204,099, with 89.2% employed within three months of graduation. The school has a median undergraduate GPA of 3.7 and an acceptance rate of 28.7%.
Harvard Business School, NYU Stern, and Dartmouth Tuck are tied in sixth place. Harvard reports an average salary and bonus of $193,505, but its employment rate at 78.4% is the lowest in the top 10.
In contrast, NYU Stern and Tuck both report strong employment outcomes. Stern graduates earn $200,759 on average with an employment rate of 89.6%, while Dartmouth Tuck leads the top 10 for employment, with 90.7% of grads employed within three months and average earnings of $200,298.
Columbia Business School ranks ninth, with graduates earning $194,287 on average and 83.7% employed three months after graduation. Yale SOM rounds out the top 10, reporting $186,447 in average salary and bonus and an employment rate of 84.9%.
When it comes to the most competitive US MBA program, Stanford sits on top. The school has an acceptance rate of just 6.8% and is followed by Harvard (11.2%) and MIT Sloan (14.1%) in second and third, respectively.
Read: How Much Does The Wharton MBA Cost?
US MBA programs: Gains and losses
Columbia Business School has re-entered the top 10 this year, climbing to ninth place after two consecutive years just outside the ranking, up from 12th in 2023.
Meanwhile, the UC Berkeley Haas School of Business fell from joint seventh to 11th, narrowly missing a top 10 spot. Virginia Darden also dropped out of the top 10, slipping from joint 10th to 11th in this year’s ranking.
There are rarely seismic shifts at the top end of the US News MBA Ranking, but some lower-ranked schools made significant gains this year.
American University’s Kogod School of Business climbed 27 places to 58th this year, while the University of Arkansas’ Sam M. Walton College of Business jumped 24 spots to 50th.
In contrast, William & Mary’s Raymond A. Mason School of Business saw a significant drop, falling 21 places from 40th to 61st.
Best business schools for business analytics, finance and more
The US News MBA ranking also ranks business schools across several specialisms in its Specialty Rankings, although these do not contribute to the overall ranking.
According to US News, the best business schools in the USA for business analytics are Carnegie Mellon Tepper School of Business, MIT Sloan, and the Georgia Institute of Technology’s Scheller School of Business. Harvard, Michigan Ross, and Wharton rank best for best general management programs.
Babson College's Olin Graduate School of Business ranks best for entrepreneurship and is followed by Stanford and MIT Sloan. The best US business schools for finance are Wharton, Chicago Booth, and NYU Stern.
If you're after a career in accounting, the best business schools ranked by US News are McCombs School of Business of the University of Texas at Austin, Wharton, and the University of Illinois at Urbana-Champaign.
The best schools for a career in marketing are Kellogg, Wharton, and Michigan Ross, according to US News.
MIT Sloan offers the best MBA for supply chain management and logistics, and if you're after a career in real estate, Wharton is your best bet.
US News MBA Ranking: 2022 | 2021 | 2020 | 2019 | 2017
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