Posted on 12/10/2012 7:29:22 AM PST by SeekAndFind
Stanford's Graduate School of Business has leapfrogged the University of Pennsylvania's Wharton School and Columbia Business School to become the most expensive two-year MBA program in the world, according to an analysis by Poets&Quants.
This year, Stanford is telling applicants that estimated cost of its two-year, full-time MBA program is a whopping $185,054, a new record. That is some $18,242 more than Stanford said it would cost an MBA student only two years ago, when Columbia was the school with the most expensive MBA program in the world. At that time, Columbia estimated that the cost to attend its MBA program was $168,307, while third-place Stanford's price tag was $166,812. In just two years, Stanford's estimated cost of the degree has risen by 10.9%, though the estimate includes a $4,000 global study trip.
Harvard Business School, Stanford's No. 1 rival, now costs over $20,000 less in estimated charges, even though it is in pricey Boston. The Stanford program is also $25,860 more than the cost of an MBA for a non-resident student at nearby UC-Berkeley's Haas School of Business. The actual difference between Harvard and Stanford is even greater because Harvard hands out an average $26,745 in annual fellowship money for its MBA students, far more than any other business school.
The total cost of the Stanford program includes two years worth of tuition, fees, books and supplies, mandatory medical insurance, the estimated costs to live and eat in Silicon Valley, and the $4,000 cost for a global study trip. Stanford says that its $23,391 estimate for rent, food, and personal expenses is for a "moderate lifestyle."
But as often is the case, these estimated numbers by the business schools tend to be conservative. They rarely include the inevitable 3% to 5% increase in tuition during a student's second year.
(Excerpt) Read more at management.fortune.cnn.com ...
Where are all the 99%ers crying about Big College’s Windfall Profits?!
I have an MBA I’m no longer using. Is there any way I can sell it on eBay I wonder? I’ll throw in a BA to sweeten the deal if that helps.
Bad capitalist! Don't you know that even if you create a new, untapped market, you didn't build that! Don't you know you need the approval of zero's minions to do that?
You still aren't a Well-Known Eastern Business School.
RE: You still aren’t a Well-Known Eastern Business School.
Actually, I think the fact that they can charge this much is because there is a HUGE DEMAND for their MBA program. Which is to say, they are a Well-Known WESTERN Business School.
RE: I have an MBA I’m no longer using.
May we know what school you got it from?
Stanford’s endowment, as of August 2012, is $17 billion, doubly subsidized by the US taxpayer (tax deductible for donors, tax free income on that money for Stanford).
Certainly not Stanford or Wharton. Holding a current rank of #61 out of 441 in the US News and World Report ranking, the University of Connecticut, in a rare lapse of judgement, awarded me an MBA in the summer of 1982. It’s pretty well used but valid nonetheless and I suspect UCONN may even be a bit happier if I could place it with a more reputable owner.
You’re right, I was born with a lifetime supply of ignorance.
It wouldn't cost much more than that to hire a PhD in business to be my full time, 40 hour per week personal tutor. Is there any justification for a price that high other than getting contacts with other people in your class for the future?
HBS teaches most classes by discussing events in actual industries or businesses, based on case studies.
Whenever an alumnus or professor from HBS is mentioned in the case study, HBS is always referred to as a "Well-Known Eastern Business School" and never as Harvard Business School.
It becomes a joke and from time to time the Harvard Coop will sell t-shirts that read: A Well-Known Eastern Business School.
Stanford MBA students will recognize that bit of Harvard pomposity.
RE: other than getting contacts with other people in your class for the future?
DING, DING, SING, we have a winner!
It’s the CONTACTS that make the money worthwhile.
Those costs are totally insane. What ever happened to employer paid tuition for night programs at reasonably good universities??
After a Bachelors Degree in Civil Engineering at Case Institute of Technology, I was offered a partial scholarship to Stanford for an MBA in the early 60’s but decided to go to work instead and start earning some money.
Got a job with a gas utility company who paid for my tuition at a three year night program for a Masters of Engineering Administration Degree at Case Institute of Technology, which is pretty well regarded.
Didn’t cost me a dime and I have never regretted not going to Stanford other than not living in California during the 60’s for a couple of years.
More than 33% of Stanford MBA faculty and 40% of students were born outside the United States, and 20% of our alumni work outside the United States.
I still sortof like that Junior University in Palo Alto.
Neither Leland Stanford Junior University nor Harvard University is in Texas, however, so how can either claim "Number 1" under any ratings system?
Harvard isn’t bad.
Some call it the Rice of the north.
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