What Is the Starting Salary for an MBA in the USA?

If you're thinking about an MBA in the USA, one of the first questions you’ll ask is: What’s the starting salary? It’s not just about the degree-it’s about the return on your time, money, and effort. The answer isn’t one number. It depends on where you go, what you study, where you work, and even the year you graduate.

Median Starting Salaries for Top MBA Programs

In 2025, graduates from the top 10 U.S. business schools-like Stanford, Wharton, Harvard, MIT Sloan, and Chicago Booth-report median starting salaries between $175,000 and $195,000. That includes base pay, signing bonus, and guaranteed performance bonus. For example, Wharton’s Class of 2024 had a median base salary of $165,000, with a median signing bonus of $35,000. Add in performance bonuses, and many landed over $190,000 in their first year.

But these aren’t the only schools that pay well. Schools like Duke Fuqua, Northwestern Kellogg, and Columbia Business School also regularly report median starting salaries above $160,000. Even some strong regional programs, like UC Berkeley Haas or University of Michigan Ross, see graduates earning between $140,000 and $155,000 right out of school.

Industry Matters More Than the School Name

Not all MBA jobs are created equal. The industry you enter makes a bigger difference than the school logo on your resume.

Consulting firms like McKinsey, BCG, and Bain pay new MBA hires between $165,000 and $185,000. Tech companies-Google, Apple, Meta, Microsoft-are close behind, offering $170,000 to $190,000 for product management, business analysis, or strategy roles. Finance roles at top investment banks like Goldman Sachs or JPMorgan Chase start at $150,000 to $180,000, often with bonuses that match or exceed base pay.

But if you go into healthcare, non-profits, or government, expect salaries closer to $90,000 to $120,000. Some MBA grads choose social impact roles because they align with their values, not because they’re high-paying. There’s no shame in that-but it’s important to know the trade-off.

Location Changes Everything

Where you work after graduation affects your paycheck more than you think. New York City, San Francisco, and Boston pay the highest salaries because of cost of living and concentration of corporate HQs. An MBA grad in San Francisco might earn $185,000, but after taxes and rent, they’re left with less than someone making $150,000 in Atlanta or Austin.

Companies in the Midwest and South often pay 10% to 15% less than coastal firms. But they also have lower living costs. A $140,000 salary in Chicago can go further than a $160,000 salary in Manhattan. Some graduates even move to cities like Nashville or Raleigh for better work-life balance and lower expenses, even if the pay is slightly lower.

Specializations Can Boost Your Pay

Not all MBA concentrations pay the same. If you specialize in finance, analytics, or technology management, you’ll likely earn more than someone in marketing, HR, or general management.

Graduates with a focus in data analytics or fintech are seeing salary bumps of 15% to 20% over generalist MBAs. Companies are desperate for people who can turn numbers into strategy. One 2024 survey from the Graduate Management Admission Council found that MBAs with analytics skills earned an average of $172,000, while those without those skills earned $148,000.

Similarly, MBAs with experience in AI, supply chain tech, or cybersecurity are in high demand. If you can speak both business and tech, your starting salary will reflect that.

International Students Face Different Realities

If you’re an international student, your salary offer might look similar on paper-but your path to getting it is harder. Many U.S. companies won’t hire international graduates unless they can sponsor a work visa. That cuts you out of a lot of mid-sized firms and startups that can’t afford the legal hassle.

Big firms like Amazon, Deloitte, and JPMorgan are more likely to sponsor H-1B visas. But even then, international students often get lower signing bonuses or fewer relocation perks. Some report being offered $15,000 to $20,000 less than their U.S. peers, even with the same skills and school.

Also, OPT (Optional Practical Training) gives you only 12 months to find a job after graduation. If you don’t land something in that window, you have to leave the country. That pressure changes how you negotiate-and sometimes forces you to take the first offer, even if it’s not ideal.

What About Non-Top-Tier Schools?

You don’t need to go to Harvard to make six figures. Many MBA programs outside the top 10 still deliver strong returns. Schools ranked between 20 and 50 by U.S. News-like Indiana Kelley, Texas McCombs, or UNC Kenan-Flagler-report median starting salaries between $110,000 and $130,000.

These grads often work in regional corporations, mid-market consulting firms, or manufacturing companies. They don’t get the flashy tech or finance roles-but they get steady careers with clear paths to leadership. And because tuition at these schools is often $50,000 to $70,000 less than top programs, the ROI can be better.

One graduate from Arizona State’s W. P. Carey School told me he made $125,000 at a Fortune 500 company in Phoenix. He paid $42,000 for his MBA. Two years later, he was promoted to manager with a $160,000 salary. That’s a solid return.

How Fast Do Salaries Grow After the First Job?

Most MBA grads don’t stay in their first job forever. The real money comes later. Within three to five years, many see their salaries jump 30% to 50%. Directors, senior managers, and VPs in consulting or tech often hit $220,000 to $280,000 by age 30.

But that growth depends on performance, not just time. If you’re in a company with flat promotion cycles or limited upward mobility, you might plateau. That’s why choosing the right first employer matters-not just for salary, but for how fast you learn and grow.

What You Should Know Before You Enroll

Here’s the hard truth: an MBA doesn’t guarantee a high salary. It opens doors-but you still have to walk through them.

Top schools give you access to recruiters, alumni networks, and internships that make landing a high-paying job easier. But if you’re not proactive-networking, preparing for interviews, building skills-you’ll end up with a degree and a $100,000 job, not a $180,000 one.

Also, remember the cost. A top MBA program can cost $200,000 to $250,000 including living expenses. If you graduate with $150,000 in debt and make $170,000, you’re doing well. But if you graduate with $200,000 in debt and make $120,000, you’re in a tough spot.

Ask yourself: Can I afford this? Will this school connect me to the right jobs? Am I willing to work 60-hour weeks for the next few years to get there?

Final Reality Check

The average starting salary for an MBA in the U.S. in 2025 is around $145,000. But that’s just a number. The real value of an MBA isn’t the paycheck on day one-it’s the speed at which you climb, the people you meet, and the opportunities that open up over the next decade.

If you’re aiming for consulting, tech, or finance, and you go to a reputable program, you’ll likely hit $160,000 to $190,000. If you’re going for a non-traditional path, expect less-but that doesn’t mean it’s not worth it. The MBA isn’t just a ticket to money. It’s a tool to build the career you want, not just the one that pays the most.