Top 10 Business Schools in the US in 2023

The University of Chicago Booth School of Business has topped the list of the best business schools in the United States for the second consecutive year.

US News on April 24 announced the rankings of the best business schools in the US, for the 2023-2024 academic year. These are schools that offer full-time Master of Business Administration (MBA) programs.

Behind Booth is Northwestern University's Kellogg School of Management, up from third place last year. In fourth and fifth place are MIT Sloan School of Management and Harvard Business School, respectively.

Dartmouth College's Tuck School of Business and Stanford Graduate School of Business tied for sixth place, with Tuck jumping from last year's No. 11 spot.

Except for this school, the remaining 6 top schools are all from the M7 group of 7 business schools that American students desire the most.

Here are the top 10 best business schools in the US:

Rating	School name	Number of students	Acceptance Rate 2022 (%)	Tuition 2022 - 2023 (USD)
1	Booth School of Business (University of Chicago)	1,281	30.1	79,188
2	Kellogg School of Management (Northwestern University)	1,423	31.4	80,006
3	Wharton School of Business (University of Pennsylvania)	1,788	22.8	84,874
4	MIT Sloan School of Management (MIT Institute of Technology)	858	14.8	82,996
5	Harvard Business School (Harvard University)	2,025	14.4	81,374
6	Stanford Graduate School of Business (Stanford University)	862	8.6	77,850
7	Tuck School of Business (Dartmouth College)	592	33.4	81,514
8	Yale School of Management (Yale University)	784	27.6	79,500
9	Ross School of Business (University of Michigan - Ann Arbor)	754	28.1	73,528
10	Stern School of Business (New York University)	678	27.1	82,326

Tuition fees for the top 10 MBA programs are mostly around $80,000 per year. The University of Pennsylvania’s Wharton School of Business has the highest tuition fee of more than $84,800, while the University of Michigan-Ann Arbor’s Ross School of Business has the lowest tuition fee of about $73,500 per year.

In terms of acceptance rates, the top 10 schools vary considerably, ranging from 8.4 to 33.4%. The Tuck School of Business has the highest acceptance rate, followed by the Kellogg School of Management and the Booth School of Business, both above 30%. The Stanford Graduate School of Business has the lowest acceptance rate.

A building on the campus of the University of Chicago Booth School of Business. Photo: Uchicago — A building on the campus of the University of Chicago Booth School of Business. Photo: *Uchicago*

This year, U.S. News surveyed 496 schools and ranked 149 of them according to eight criteria. On its website, the organization said it has changed its ranking methodology to emphasize outcomes rather than reputation.

Specifically, student success criteria with employment and salary and bonus indicators account for 50% (previously 35%) of each school's overall ranking. Meanwhile, quality assessment, including peer reviews (schools in the same field) and employer reviews, only accounts for 25% of the score instead of 40% last year.

The remaining 25% of the score is based on the student's ability, including GMAT/GRE standardized test scores, overall GPA, and acceptance rate.

Doan Hung (According to US News)

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