Poets and Quants has an excellent report on the costs of a "Top-20" MBA.
After years of price inflation for all the top schools, Columbia works out as the most expensive at a staggering $168,307. At the same time, Columbia reports the lowest percentage of MBA students who are receiving financial aid from the school–at 55%, well below 81% at Duke, 80% at Dartmouth, and 75% at Stanford.
But the real figure for most MBA students would appear to be much higher as the estimates for schools factor in "frugal" lifestyles that most people who have already come from well-paid jobs would find it difficult to live on- for example Cornell says its estimate of $11,250 a year for living expenses is “based on the cost of sharing a moderately priced apartment” at a cost of $700 a month rent and putting aside $425 a month for food. Try living on that in a major U.S. city!
Other notes:
In most cases, the real cost of your MBA will be 10% to 20%
higher, given your lifestyle, than the advertised costs.
Also watch out for catches:
1. Wharton’s $168,000 does not include the cost of its Global Immersion Program, which ranges from $5,800 to $7,800, or the cost to join clubs, attend conferences and “parties."
2. Stanford’s estimate doesn’t include a required $4,000. “global study tour.”
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