The Bloomberg ranking lists the top 75 US b-schools, evaluating each one on factors such as compensation, learning, networking, entrepreneurship, and diversity.
This year, the top five schools include Stanford Graduate School of Management, the University of Chicago Booth, Northwestern University Kellogg School of Management, Dartmouth Tuck, and the University of Virginia Darden.
Interestingly, while two of these top-ranked institutions are located in Illinois, the state doesn’t lead the list of states that have the largest number of top-ranked US schools. In fact, four others dominate the list, each home to more of Bloomberg’s top business schools than anywhere else.
So, here are the states that host the largest numbers of highly-rated MBA programs in 2024.
4. California
The Golden state, California, is home to five schools that make Bloomberg’s ranking of the best business schools in the country. Topping the list is Stanford, ranked first in the list, followed by UC Berkeley at 14, UCLA (Anderson) at 18, USC Marshall at 30, and UC Irvine at 49.
The state's reputation as a hub for innovation and entrepreneurship, particularly due to its proximity to Silicon Valley, draws in students and aspiring future business leaders from across the globe. The ranking reflects these advantages, with Stanford, UC Berkeley, and UCLA all ranking in the top 10 for the entrepreneurship metric.
California offers unparalleled networking opportunities, a dynamic job market, and a thriving startup scene, making it a top choice for those looking to launch or advance their careers in business.
3. Texas
Texas boasts seven business schools on Bloomberg’s list, making it a strong contender for students seeking top-ranked MBA programs. The University of Texas at Austin leads the pack at 19, followed by Rice University (Jones) at 22, Southern Methodist (Cox) at 26, Texas Christian (Neeley) at 36, Texas A&M (Mays) at 41, UT-Dallas (Jindal) at 46, and Baylor (Hankamer) at 55.
Interestingly, two of the Texas-based schools rank in the top 10 for learning: Southern Methodist is third and Texas Christian is eighth.
While business schools in Texas may not rank as high as some of California’s elite institutions, they offer excellent alternatives for those looking for more accessible options.
Texas also provides a thriving business environment, with major cities like Austin, Dallas, and Houston offering growing job markets, affordable living, and an attractive mix of corporate and entrepreneurial opportunities. This is reflected in the ranking, with Rice Jones coming in at joint third for the entrepreneurship factor.
2. Massachusetts
Tied with Texas, Massachusetts is home to seven of Bloomberg’s top business schools in the US, however the state shines with three business schools in the top 10.
Leading the way are Harvard Business School at sixth, Carnegie Mellon Tepper at ninth, and MIT: Sloan at 10th, with Boston University Questrom (44), Boston College Carroll (51), Northeastern D'Amore-McKim (65), and Hult (67) also making the list.
Known for its academic excellence, Massachusetts attracts some of the brightest minds in business. With institutions like Harvard and MIT shaping global business via research and talent, the state offers an intellectually stimulating environment. Massachusetts ranks very highly for entrepreneurship, with Carnegie Mellon coming third, and Harvard and MIT: Sloan at fifth and sixth, respectively.
In addition to world-class faculty and resources, Massachusetts' position as a hub for industries like finance, biotech, and consulting makes it an attractive destination for future business professionals seeking a mix of innovation, tradition, and career growth.
1. New York
New York tops this list of the best states with nine of Bloomberg’s highest-rated business schools. Though none of New York's institutions made it into the top 10, the standout institutions include Cornell Johnson at 11, NYU Stern at 15, and Columbia Business School at 17—a surprisingly low score for one of the M7 business schools, and 12 points lower than the 2023 ranking.
These top schools are followed by the University of Rochester Simon (28), Baruch Zicklin (52), Fordham Gabelli (54), SUNY at Buffalo (62), Syracuse Whitman (63), and the Rochester Institute of Technology (73).
The vibrancy of New York City makes the state a magnet for business school students. With close proximity to the headquarters of major companies in industries such as finance—including JPMorgan Chase and Goldman Sachs—as well as media giants like NBCUniversal, New York offers unparalleled networking and internship opportunities.
The fast-paced, diverse environment of the city provides aspiring business leaders with access to top-tier corporate offices and a wealth of entrepreneurial resources, making it an ideal setting for launching or advancing their careers.
