Forbes has released 10th biennial ranking of MBA programs. These rankings are divided into three categories: U.S. programs, one-year non-U.S. programs, and two-year non-U.S. programs. Forbes ranking of 2017 is based on the median returns on investment achieved by the graduates from the class of 2012. University of Pennsylvania’s Wharton School tops top the ranking of US-based MBA programs for the first time ever. With Stanford GSB now in second, Harvard Business School came in third, Northwestern’s Kellogg School of Management and Dartmouth’s Tuck School of Business are in the top five.

Top 50 US Business Schools

Rank School Location
1 Pennsylvania (Wharton) Philadelphia, PA
2 Stanford Palo Alto, CA
3 Harvard Boston, MA
4 Northwestern (Kellogg) Evanston, IL
5 Dartmouth (Tuck) Hanover, NH
6 Columbia New York, NY
7 Chicago (Booth) Chicago, IL
8 MIT (Sloan) Cambridge, MA
9 UC Berkeley (Haas) Berkeley, CA
10 Cornell (Johnson) Ithaca, NY
11 Virginia (Darden) Charlottesville, VA
12 Michigan (Ross) Ann Arbor, MI
13 Yale New Haven, CT
14 Duke (Fuqua) Durham, NC
15 UCLA (Anderson) Los Angeles, CA
16 UNC (Kenan-Flagler) Chapel Hill, NC
17 Texas-Austin (McCombs) Austin, TX
18 Carnegie Mellon (Tepper) Pittsburgh, PA
19 Brigham Young (Marriott) Provo, UT
20 Texas A&M (Mays) College Station, TX
21 NYU (Stern) New York, NY
22 Notre Dame (Mendoza) South Bend, IN
23 Emory (Goizueta) Atlanta, GA
24 Wisconsin-Madison Madison, WI
25 Indiana (Kelley) Bloomington, IN
25 Michigan State (Broad) East Lansing, MI
27 Minnesota (Carlson) Minneapolis, MN
28 Purdue (Krannert) West Lafayette, IN
29 Penn State (Smeal) University Park, PA
30 Georgia Tech (Scheller) Atlanta, GA
30 Washington (Foster) Seattle, WA
32 Rice (Jones) Houston, TX
33 USC (Marshall) Los Angeles, CA
34 Iowa (Tippie) Iowa City, IA
35 Georgetown (McDonough) Washington, DC
35 Washington U-St. Louis (Olin) St. Louis, MO
37 Rochester (Simon) Rochester, NY
38 SMU (Cox) Dallas, TX
39 Pittsburgh (Katz) Pittsburgh, PA
40 Arizona State (Carey) Tempe, AZ
41 UC Irvine (Merage) Irvine, CA
42 Buffalo Buffalo, NY
43 Alabama (Manderson) Tuscaloosa, AL
44 Rollins (Crummer) Winter Park, FL
44 Texas-Dallas (Jindal) Dallas, TX
46 Maryland (Smith) College Park, MD
47 Ohio State (Fisher) Columbus, OH
48 Boston (Questrom) Boston, MA
49 Vanderbilt (Owen) Nashville, TN
50 Georgia (Terry) Athens, GA

Top Non-US Business Schools (One Year MBA)

This year, IMD in Lausanne, Switzerland takes the top spot among the one-year MBA programs. INSEAD ranks second among one-year programs.

Rank School Location
1 IMD Lausanne, Switzerland
2 Insead Fontainebleau, France
3 IE Business School Madrid, Spain
4 Cambridge (Judge) Cambridge, United Kingdom
5 SDA Bocconi Milan, Italy
6 Oxford (Said) Oxford, United Kingdom
7 Hong Kong Hong Kong, Hong Kong
8 Mannheim Mannheim, Germany
9 Erasmus (Rotterdam) Rotterdam, Netherlands
10 Cranfield Cranfield, United Kingdom
11 Lancaster Lancaster, United Kingdom
12 City U (Cass) London, United Kingdom
13 Imperial London, United Kingdom
14 Warwick Coventry, United Kingdom
15 Hult London, United Kingdom
16 S P Jain Sydney, Australia
17 HEC Montreal Montreal, QC, Canada

Forbes 2015 MBA Rankings