Work

The 20 best MBA programs of 2019, according to WalletHub

VIDEO4:1604:16
Michael Horn: How to tell if your degree is worth the money

U.S. business schools are seeing a drop in applications. According to a survey of 1,087 graduate business programs at 363 business schools by the Graduate Management Admission Council, 70% of two-year full-time MBA programs in the United States saw a decline in application volume in 2018.

Harvard Business School, Stanford's Graduate School of Business and The Wharton School of the University of Pennsylvania all saw decreases in applications that year.

But earning an MBA can still pay off big for graduates. According to the nonprofit National Association of Colleges and Employers, the average starting salary for MBA graduates from the class of 2019 is $84,580, some $25,000 more than the average for graduates with bachelor's degrees in business.

To determine which business schools pay off the most for students, WalletHub compared nearly 100 schools across 10 key metrics including tuition, the average base salary for graduates and gender diversity. They then scored the schools, with the highest possible score being 100. The result is WalletHub's Best MBA Programs of 2019.

Here are the best business schools of 2019, according to WalletHub:

Source: WalletHub

20. Georgetown University (McDonough)

Total score: 63.40 out of 100
Return on investment ranking: 22
Selectivity and program quality ranking: 25
Campus experience ranking: 68

19. University of Wisconsin—Madison

Total score: 63.48 out of 100
Return on investment ranking: 29
Selectivity and program quality ranking: 17
Campus experience ranking: 65

18. University of California—Los Angeles (Anderson)

Total score: 65.07 out of 100
Return on investment ranking: 25
Selectivity and program quality ranking: 16
Campus experience ranking: 60

17. Indiana University (Kelley)

Total score: 65.17 out of 100
Return on investment ranking: 18
Selectivity and program quality ranking: 19
Campus experience ranking: 66

16. Dartmouth College (Tuck)

Total score: 67.51 out of 100
Return on investment ranking: 15
Selectivity and program quality ranking: 15
Campus experience ranking: 47

University of Virginia in Charlottesville, Virginia
Win McNamee | Getty Images

15. University of Virginia (Darden)

Total score: 67.89 out of 100
Return on investment ranking: 8
Selectivity and program quality ranking: 18
Campus experience ranking: 27

14. New York University (Stern)

Total score: 68.49 out of 100
Return on investment ranking: 7
Selectivity and program quality ranking: 14
Campus experience ranking: 57

13. Duke University (Fuqua)

Total score: 69.34 out of 100
Return on investment ranking: 4
Selectivity and program quality ranking: 13
Campus experience ranking: 58

12. University of Washington (Foster)

Total score: 69.72 out of 100
Return on investment ranking: 1
Selectivity and program quality ranking: 23
Campus experience ranking: 83

11. University of Michigan—Ann Arbor (Ross)

Total score: 70.78 out of 100
Return on investment ranking: 6
Selectivity and program quality ranking: 11
Campus experience ranking: 48

Students on campus of Yale University
Yana Paskova/Getty Images

10. Yale University

Total score: 71.16 out of 100
Return on investment ranking: 21
Selectivity and program quality ranking: 10
Campus experience ranking: 20

9. Columbia University

Total score: 72.47 out of 100
Return on investment ranking: 20
Selectivity and program quality ranking: 8
Campus experience ranking: 33

8. University of Southern California (Marshall)

Total score: 73.03 out of 100
Return on investment ranking: 5
Selectivity and program quality ranking: 9
Campus experience ranking: 49

7. Northwestern University (Kellogg)

Total score: 73.85 out of 100
Return on investment ranking: 19
Selectivity and program quality ranking: 5
Campus experience ranking: 43

6. University of California—Berkeley (Haas)

Total score: 74.28 out of 100
Return on investment ranking: 9
Selectivity and program quality ranking: 7
Campus experience ranking: 41

A man walks through Killian Court at the Massachusetts Institute of Technology (MIT) in Cambridge, Massachusetts, U.S.
REUTERS/Brian Snyder

5. Massachusetts Institute of Technology (Sloan)

Total score: 75.54 out of 100
Return on investment ranking: 3
Selectivity and program quality ranking: 6
Campus experience ranking: 38

4. University of Chicago (Booth)

Total score: 75.89 out of 100
Return on investment ranking: 16
Selectivity and program quality ranking: 4
Campus experience ranking: 56

3. University of Pennsylvania (Wharton)

Total score: 76.58 out of 100
Return on investment ranking: 12
Selectivity and program quality ranking: 3
Campus experience ranking: 45

2. Harvard University

Total score: 78.69 out of 100
Return on investment ranking: 14
Selectivity and program quality ranking: 2
Campus experience ranking: 29

1. Stanford University

Total score: 83.91 out of 100
Return on investment ranking: 2
Selectivity and program quality ranking: 1
Campus experience ranking: 12

Stanford University
Beck Diefenbach | Reuters

Stanford came in first on WalletHub's ranking. WalletHub found that Stanford Business School graduates earned the highest average base salaries and that students had some of the highest GPAs and GMAT scores.

While many Ivy League institutions like Harvard, the University of Pennsylvania and Yale performed well in the ranking, many public universities also earned high marks.

UC Berkeley, the University of Washington, University of Virginia, Indiana University, UCLA, the University of Wisconsin and the University of Michigan all cracked the top 20.

Like this story? Subscribe to CNBC Make It on YouTube!

Don't miss:

VIDEO4:1604:16
Michael Horn: How to tell if your degree is worth the money
make it

Stay in the loop

Sign Up

About Us

Learn More

Follow Us

CNBC.COM