In its most recent , the Graduate Management Admission Council (GMAC) reported that MBA applications soared by nearly 12% after two years of decline. Furthermore, a 2024 GMAC survey reported that median total compensation increased by 33% following graduate business training.
These trends highlight that the return on investment (ROI) for an MBA degree remains strong. Let’s explore some of the nuances that can help you decide whether pursuing an MBA is the right investment for you.
In July 2025, U.S. News & World Report highlighted 30 MBA programs whose ROI averaged 144% or higher. The publication calculated graduates’ salary-to-debt ratio by dividing the average earnings of recent graduates (salary and signing bonus) by the average student debt incurred.
One was Rice University’s Jesse H. Jones Graduate School of Business, whose Class of 2024 graduates reported an average salary and bonus of $175,534 while taking on debt of $88,204 to attend the program. However, some of the best ROI values did not come from the highest ranked MBA programs. For example, Lehigh University’s College of Business was included in this list but was ranked 86th in the most recent U.S. News Best Business Schools ranking. And with a salary-to-debt ratio of 6.6-to-1, the University of Georgia’s Terry College of Business (ranked 29th by U.S. News) delivered the highest ROI on this list.
When considering the investment you will make in an MBA program and the potential return you’ll receive, here are several points to keep in mind:
1. Compare sticker price versus actual price.
The thought of paying roughly $200K for a business degree can make anyone a little weak in the knees, but remember that many applicants receive scholarships. For example, in the most recent admissions cycle, our Stratus clients received more than $12M in scholarship offers. Depending on the strength of their application, some students receive scholarships ranging from $5K to $10K all the way up to full tuition. And even though full scholarships are rare, a $50K discount on your MBA degree will still greatly improve your ROI.
2. Consider programs that could yield zero debt.
Although some people will only consider the highest ranked programs, we encourage our clients to understand how a broader application strategy can boost their ROI. ROI goes sky high when you have no debt! You also have greater leverage if you receive several attractive offers. We have helped many clients increase the scholarship award from their top-choice program based on the other scholarships they received from similarly ranked MBA programs.
3. Remember that your ROI also includes your ability to solve difficult problems.
During a recent panel discussion of MBA deans hosted by the Association of International Graduate Admissions Consultants (AIGAC), Dartmouth Tuck’s dean, Matthew Slaughter, noted that the power of an MBA to help solve difficult problems has never been stronger. It’s important to realize that the robust education you receive at your best-fit MBA program can pay lifelong dividends in having a career of substance.
There are multiple ways to consider ROI, and applicants should stay true to their own principles when contemplating the overall value of an MBA. Our Stratus Admissions Counselors can help you review your situation when you reach out for a free consultation.