For example, out of every group of 100 students that enter Stanford’s MBA program, only seven eventually graduate with their degree. The same is true of only 12 students out of every 100 students that study at Harvard Business School.
Some schools have a higher graduation rate like the Yale School of Management, (where 24 out of every 100 students graduate), and the Tuck School of Business, (where 22 out of every 100 students graduate). However, these are all still extremely low numbers when you really think about it; and it gives you some clue into just how exclusive a club you join when you get an MBA degree from a top university.
In addition, currently, the cheapest MBA program is at the Haas School of Business for $110,000 per year; and the most expensive program is at Harvard Business School for $139,000 per year. Because of this, going for your MBA isn’t something you should take lightly.
Fortunately though, most students understand that the benefits of obtaining your MBA can only be measured over a lifetime.
Though you can work your way up to a management role with your degree in business administration and your work experience; this will typically take decades. Most people that are able to do this have been surrounded by business, management and finance most of their childhood and adult lives.
For example, Ricardo Guimaraes was born into a business family lineage. His father owned a mining company and his grandfather founded a large bank and other businesses. He immediately entered the family businesses after completing his education and after being surrounded by these complex businesses his whole life. However, this is a unique situation and even Guimaraes recommends that most people who are interested in a top-level business career before the age of 50 or 60 should get an MBA from the best school they can afford.
According to Forbes Magazine, the top programs in the USA are:
1. Stanford Business School
2. Harvard Business School
3. The Booth School of Business
4. The Wharton School of Business
5. The Haas School of Business
6. The Tuck School of Business
7. The Yale School of Management
8. The Kellogg School of Management
9. Columbia Business School, and
10. The Leonard N. Stern School of Business