The Best Business Schools in Chicago for 2026
The best business schools in Chicago are the accredited schools that graduate their students and charge honestly for it, not the ones with the biggest name on the building. Hakia analyzed 290 accredited business programs in Chicago and the surrounding metro and ranked 18 schools on graduation rate, selectivity, cost, and outcomes. Tuition across the 18 ranked schools runs from $12,789 to $67,446 a year, a $54,657 spread for the same credential.
Northwestern University leads with a 97.1 Hakia Score on a 95% graduation rate, at $67,158 a year. Across all 18 ranked business schools in Chicago the average graduation rate is 70%, ranging from 50% to 96%. 1 of the 18 is public and 17 are private, a split that drives most of the price gap below.
Below is the full ranked table, followed by a school-by-school look at what actually separates the business schools in Chicago: cost, completion, selectivity, and where the degree leads. This list covers the Chicago metro, so some schools sit outside the city line; the city of each is shown in the table. Every figure is drawn from federal IPEDS and BLS data, and no school pays for placement.
Key Takeaways on the Best Business Schools in Chicago
- Northwestern University ranks first among business schools in Chicago with a 97.1 Hakia Score and a 95% graduation rate.
- Tuition across the 18 ranked business schools in Chicago spans $12,789 to $67,446 a year, a $54,657 gap for the same credential.
- The 18 ranked business schools in Chicago graduate 70% of students on average, from 50% to 96%.
- 1 of the 18 ranked schools is public, where the in-state rate is what Illinois residents actually pay.
- 5 of the 18 offer a confirmed online option, which matters in a city where commuting time is the real cost.
Hakia analyzed 290 accredited business programs in Chicago and the surrounding metro reported to IPEDS, scoring each on graduation rate, selectivity, cost, and outcomes, then ranked one entry per school on its strongest program. No school is rewarded for sticker price alone, and none pays for inclusion.
The 18 Best Business Schools in Chicago, Ranked for 2026
| # | Program | Type | In-state tuition | Grad rate | Admit rate | Hakia Score |
|---|---|---|---|---|---|---|
| 1 | Northwestern UniversityEvanston, IL | Nonprofit | $67,158 | 95% | 8% | 97.1 |
| 2 | University of ChicagoChicago, IL | Nonprofit | $67,446 | 96% | 4% | 96.3 |
| 3 | Lake Forest CollegeLake Forest, IL | Nonprofit | $55,500 | 78% | 57% | 89.4 |
| 4 | Illinois Institute of TechnologyChicago, IL | Nonprofit | $50,636 | 75% | 55% | 88.4 |
| 5 | University of Illinois ChicagoChicago, IL · online option | Public | $12,789 | 62% | 77% | 86.4 |
| 6 | DePaul UniversityChicago, IL | Nonprofit | $44,601 | 68% | 76% | 86.2 |
| 7 | Loyola University ChicagoChicago, IL | Nonprofit | $52,230 | 73% | 82% | 85.8 |
| 8 | University of St FrancisJoliet, IL · online option | Nonprofit | $38,110 | 67% | 65% | 85.1 |
| 9 | Lake Forest Graduate School of ManagementLake Forest, IL · online option | Nonprofit | NR | NR | NR | 84.2 |
| 10 | Elmhurst UniversityElmhurst, IL | Nonprofit | $42,495 | 70% | 74% | 82.9 |
| 11 | Lewis UniversityRomeoville, IL | Nonprofit | $38,800 | 67% | 71% | 82.1 |
| 12 | Olivet Nazarene UniversityBourbonnais, IL · online option | Nonprofit | $37,910 | 61% | 56% | 80.9 |
| 13 | North Park UniversityChicago, IL | Nonprofit | $36,070 | 58% | 69% | 80.4 |
| 14 | Wheaton CollegeWheaton, IL | Nonprofit | $45,420 | 85% | 87% | 80.2 |
| 15 | Saint Xavier UniversityChicago, IL | Nonprofit | $37,755 | 57% | 84% | 79.6 |
| 16 | North Central CollegeNaperville, IL | Nonprofit | $45,446 | 64% | 77% | 79.3 |
| 17 | Judson UniversityElgin, IL · online option | Nonprofit | $29,237 | 60% | 48% | 77.8 |
| 18 | Hebrew Theological CollegeSkokie, IL | Nonprofit | $14,750 | 50% | 57% | 76.1 |
NR — not reported by the institution in the latest IPEDS collection.
How the Top Business Schools in Chicago Compare
Each program scores 0 to 100 on the Hakia Score, a composite of graduation rate, cost, selectivity, and outcomes. Longer bars rank higher.
The Top Business Schools in Chicago, School by School
Northwestern University
Evanston, IL · Nonprofit
- Grad rate
- 95%
- Admit rate
- 8%
- In-state
- $67,158
- Out-of-state
- $67,158
Northwestern graduates 95% of its students, above the 70% average across this ranking, on a 97.1 Hakia Score.
- Hakia Score 97.1, #1 of 18
- 95% graduation rate
- $67,158 tuition
- Admits just 8% of applicants
Northwestern is a private, nonprofit institution in Evanston, IL. Its Business program ranks #1 of the 18 analyzed here with a 97.1 Hakia Score, a composite of graduation rate, cost, selectivity, and graduate outcomes. That is the highest score in the ranking, well above the 84.3 group average. The program graduates 95% of its students, above the 70% average across the ranked schools. Northwestern admits 8% of applicants, more selective than the 62% average for the group. That is more open than the 4% rate at UChicago, the most selective program on this list. Its completion rate lands among the strongest in a group where graduation runs from 50% to 96%. It is one of the larger campuses in the ranking, enrolling 23,856 students.
On cost, Northwestern charges $67,158 a year in-state. That puts it at the higher end on this list, where annual in-state tuition runs from $12,789 at UIC to $67,446 at UChicago. As a private institution, its tuition does not change with residency, unlike the public universities on this list. For prospective students, the draw here is above-average completion paired with genuine selectivity.
University of Chicago
Chicago, IL · Nonprofit
- Grad rate
- 96%
- Admit rate
- 4%
- In-state
- $67,446
- Out-of-state
- $67,446
UChicago graduates 96% of its students, above the 70% average across this ranking, on a 96.3 Hakia Score.
- Hakia Score 96.3, #2 of 18
- 96% graduation rate
- $67,446 tuition
- Most selective program here
UChicago is a private, nonprofit institution in Chicago, IL. Its Business program ranks #2 of the 18 analyzed here with a 96.3 Hakia Score, a composite of graduation rate, cost, selectivity, and graduate outcomes. That sits above the 84.3 group average, in the top third of the 18 ranked programs, 0.8 points behind top-ranked Northwestern. The program graduates 96% of its students, above the 70% average across the ranked schools. UChicago admits 4% of applicants, more selective than the 62% average for the group. Its completion rate lands among the strongest in a group where graduation runs from 50% to 96%. The university enrolls 18,566 students overall.
On cost, UChicago charges $67,446 a year in-state. That puts it at the higher end on this list, where annual in-state tuition runs from $12,789 at UIC to $67,446 at UChicago. As a private institution, its tuition does not change with residency, unlike the public universities on this list. For prospective students, the draw here is above-average completion paired with genuine selectivity.
Lake Forest College
Lake Forest, IL · Nonprofit
- Grad rate
- 78%
- Admit rate
- 57%
- In-state
- $55,500
- Out-of-state
- $55,500
Lake Forest College graduates 78% of its students, above the 70% average across this ranking, on an 89.4 Hakia Score.
- Hakia Score 89.4, #3 of 18
- 78% graduation rate
- $55,500 tuition
- Admits just 57% of applicants
Lake Forest College is a private, nonprofit institution in Lake Forest, IL. Its Business program ranks #3 of the 18 analyzed here with an 89.4 Hakia Score, a composite of graduation rate, cost, selectivity, and graduate outcomes. That sits above the 84.3 group average, in the top third of the 18 ranked programs, 7.7 points behind top-ranked Northwestern. The program graduates 78% of its students, above the 70% average across the ranked schools. Lake Forest College admits 57% of applicants, more selective than the 62% average for the group. That is more open than the 4% rate at UChicago, the most selective program on this list. Its completion rate lands in the middle of the pack in a group where graduation runs from 50% to 96%. It is one of the smaller campuses here, with 1,837 students.
On cost, Lake Forest College charges $55,500 a year in-state. That puts it at the higher end on this list, where annual in-state tuition runs from $12,789 at UIC to $67,446 at UChicago. As a private institution, its tuition does not change with residency, unlike the public universities on this list. For prospective students, the draw here is above-average completion paired with genuine selectivity.
Illinois Institute of Technology
Chicago, IL · Nonprofit
- Grad rate
- 75%
- Admit rate
- 55%
- In-state
- $50,636
- Out-of-state
- $50,636
Illinois Tech graduates 75% of its students, above the 70% average across this ranking, on an 88.4 Hakia Score.
- Hakia Score 88.4, #4 of 18
- 75% graduation rate
- $50,636 tuition
- Admits just 55% of applicants
Illinois Tech is a private, nonprofit institution in Chicago, IL. Its Business program ranks #4 of the 18 analyzed here with an 88.4 Hakia Score, a composite of graduation rate, cost, selectivity, and graduate outcomes. That sits above the 84.3 group average, in the top third of the 18 ranked programs. The program graduates 75% of its students, above the 70% average across the ranked schools. Illinois Tech admits 55% of applicants, more selective than the 62% average for the group. That is more open than the 4% rate at UChicago, the most selective program on this list. Its completion rate lands in the middle of the pack in a group where graduation runs from 50% to 96%. The university enrolls 8,834 students overall.
On cost, Illinois Tech charges $50,636 a year in-state. That puts it at the higher end on this list, where annual in-state tuition runs from $12,789 at UIC to $67,446 at UChicago. As a private institution, its tuition does not change with residency, unlike the public universities on this list. For prospective students, the draw here is above-average completion paired with genuine selectivity.
University of Illinois Chicago
Chicago, IL · Public · online option
- Grad rate
- 62%
- Admit rate
- 77%
- In-state
- $12,789
- Out-of-state
- $28,849
At $12,789 a year in-state, UIC is among the more affordable business programs ranked here, holding an 86.4 Hakia Score on a 62% graduation rate.
- Hakia Score 86.4, #5 of 18
- 62% graduation rate
- $12,789 in-state vs $28,849 out-of-state
- Lowest in-state tuition here
UIC is a public institution in Chicago, IL. Its Business program ranks #5 of the 18 analyzed here with an 86.4 Hakia Score, a composite of graduation rate, cost, selectivity, and graduate outcomes. That sits above the 84.3 group average, in the top third of the 18 ranked programs. The program graduates 62% of its students, below the 70% average across the ranked schools. UIC admits 77% of applicants, less selective than the 62% average for the group. That is more open than the 4% rate at UChicago, the most selective program on this list. Its completion rate lands toward the lower end in a group where graduation runs from 50% to 96%. It is one of the larger campuses in the ranking, enrolling 33,906 students. The degree is also offered online, which widens access for working students.
On cost, UIC charges $12,789 a year in-state, roughly 2.3x the $28,849 out-of-state rate. That puts it among the most affordable on this list, where annual in-state tuition runs from $12,789 at UIC to $67,446 at UChicago. The spread makes the program a clearer value for IL residents than for out-of-state students. For prospective students, the draw here is low in-state cost paired with an online option.
DePaul University
Chicago, IL · Nonprofit
- Grad rate
- 68%
- Admit rate
- 76%
- In-state
- $44,601
- Out-of-state
- $44,601
DePaul ranks #6 of the 18 business programs in this analysis, with an 86.2 Hakia Score and a 68% graduation rate.
- Hakia Score 86.2, #6 of 18
- 68% graduation rate
- $44,601 tuition
- Admits just 76% of applicants
DePaul is a private, nonprofit institution in Chicago, IL. Its Business program ranks #6 of the 18 analyzed here with an 86.2 Hakia Score, a composite of graduation rate, cost, selectivity, and graduate outcomes. That sits above the 84.3 group average, in the top third of the 18 ranked programs. The program graduates 68% of its students, below the 70% average across the ranked schools. DePaul admits 76% of applicants, less selective than the 62% average for the group. That is more open than the 4% rate at UChicago, the most selective program on this list. Its completion rate lands in the middle of the pack in a group where graduation runs from 50% to 96%. It is one of the larger campuses in the ranking, enrolling 21,210 students.
On cost, DePaul charges $44,601 a year in-state. That puts it mid-pack on price on this list, where annual in-state tuition runs from $12,789 at UIC to $67,446 at UChicago. As a private institution, its tuition does not change with residency, unlike the public universities on this list. It earns its place in the top 18 on the balance of cost, completion, and outcomes.
Loyola University Chicago
Chicago, IL · Nonprofit
- Grad rate
- 73%
- Admit rate
- 82%
- In-state
- $52,230
- Out-of-state
- $52,230
Loyola University Chicago graduates 73% of its students, above the 70% average across this ranking, on an 85.8 Hakia Score.
- Hakia Score 85.8, #7 of 18
- 73% graduation rate
- $52,230 tuition
- Admits just 82% of applicants
Based in Chicago, IL, Loyola University Chicago is a private, nonprofit institution. Its Business program lands at #7 of the 18 ranked here, earning an 85.8 Hakia Score that weighs graduation rate, cost, selectivity, and outcomes. That sits above the 84.3 group average, in the middle third of the 18 ranked programs. The program graduates 73% of its students, above the 70% average across the ranked schools. Loyola University Chicago admits 82% of applicants, less selective than the 62% average for the group. That is more open than the 4% rate at UChicago, the most selective program on this list. Its completion rate lands in the middle of the pack in a group where graduation runs from 50% to 96%. The university enrolls 17,384 students overall.
On cost, Loyola University Chicago charges $52,230 a year in-state. That puts it at the higher end on this list, where annual in-state tuition runs from $12,789 at UIC to $67,446 at UChicago. As a private institution, its tuition does not change with residency, unlike the public universities on this list. For prospective students, the main draw here is its above-average completion.
University of St Francis
Joliet, IL · Nonprofit · online option
- Grad rate
- 67%
- Admit rate
- 65%
- In-state
- $38,110
- Out-of-state
- $38,110
St Francis ranks #8 of the 18 business programs in this analysis, with an 85.1 Hakia Score and a 67% graduation rate.
- Hakia Score 85.1, #8 of 18
- 67% graduation rate
- $38,110 tuition
- Online option available
St Francis is a private, nonprofit institution in Joliet, IL. Its Business program ranks #8 of the 18 analyzed here with an 85.1 Hakia Score, a composite of graduation rate, cost, selectivity, and graduate outcomes. That sits above the 84.3 group average, in the middle third of the 18 ranked programs. The program graduates 67% of its students, below the 70% average across the ranked schools. St Francis admits 65% of applicants, less selective than the 62% average for the group. That is more open than the 4% rate at UChicago, the most selective program on this list. Its completion rate lands in the middle of the pack in a group where graduation runs from 50% to 96%. It is one of the smaller campuses here, with 3,074 students. The degree is also offered online, which widens access for working students.
On cost, St Francis charges $38,110 a year in-state. That puts it mid-pack on price on this list, where annual in-state tuition runs from $12,789 at UIC to $67,446 at UChicago. As a private institution, its tuition does not change with residency, unlike the public universities on this list. For prospective students, the main draw here is its an online option.
Lake Forest Graduate School of Management
Lake Forest, IL · Nonprofit · online option
- Grad rate
- NR
- Admit rate
- NR
- In-state
- NR
- Out-of-state
- NR
Lake Forest Graduate School of Management ranks #9 of the 18 business programs in this analysis, with an 84.2 Hakia Score.
- Hakia Score 84.2, #9 of 18
- Online option available
Lake Forest Graduate School of Management is a private, nonprofit institution in Lake Forest, IL. Its Business program ranks #9 of the 18 analyzed here with an 84.2 Hakia Score, a composite of graduation rate, cost, selectivity, and graduate outcomes. That sits below the 84.3 group average, in the middle third of the 18 ranked programs. It is one of the smaller campuses here, with 196 students. The degree is also offered online, which widens access for working students.
For prospective students, the main draw here is its an online option.
Elmhurst University
Elmhurst, IL · Nonprofit
- Grad rate
- 70%
- Admit rate
- 74%
- In-state
- $42,495
- Out-of-state
- $42,495
Elmhurst graduates 70% of its students, above the 70% average across this ranking, on an 82.9 Hakia Score.
- Hakia Score 82.9, #10 of 18
- 70% graduation rate
- $42,495 tuition
- Admits just 74% of applicants
Based in Elmhurst, IL, Elmhurst is a private, nonprofit institution. Its Business program lands at #10 of the 18 ranked here, earning an 82.9 Hakia Score that weighs graduation rate, cost, selectivity, and outcomes. That sits below the 84.3 group average, in the middle third of the 18 ranked programs. The program graduates 70% of its students, above the 70% average across the ranked schools. Elmhurst admits 74% of applicants, less selective than the 62% average for the group. That is more open than the 4% rate at UChicago, the most selective program on this list. Its completion rate lands in the middle of the pack in a group where graduation runs from 50% to 96%. It is one of the smaller campuses here, with 3,997 students.
On cost, Elmhurst charges $42,495 a year in-state. That puts it mid-pack on price on this list, where annual in-state tuition runs from $12,789 at UIC to $67,446 at UChicago. As a private institution, its tuition does not change with residency, unlike the public universities on this list. For prospective students, the main draw here is its above-average completion.
What Business Schools in Chicago Cost
Tuition across the 18 ranked schools runs from $12,789 to $67,446 a year. University of Illinois Chicago anchors the low end at $12,789 a year, while University of Chicago sits at the top at $67,446. The cheapest public option among the business schools in Chicago is University of Illinois Chicago at $12,789; the cheapest private is Hebrew Theological College in Skokie at $14,750.
Over the four years the credential takes, that is roughly $51,156 in tuition at University of Illinois Chicago against about $269,784 at University of Chicago. Public figures here are the in-state resident rate, so an applicant moving to Chicago from another state should read the out-of-state column before treating the cheap end of this list as cheap.
Which Business Major to Choose in Chicago
Business school covers a dozen different degrees, and the business schools in Chicago do not all offer the same ones. Across the 290 accredited programs analyzed here, the fields with the deepest coverage in Chicago are business administration (27 schools), marketing (20 schools), accounting (19 schools), finance (15 schools), human resources (15 schools). A school ranked highly overall is not automatically strong in the major you want, so check the field before the name.
Accounting is the one track bound to a license: CPA eligibility in most states requires 150 credit hours against the 120 a bachelor's confers, which changes the course plan from the first year rather than the last. 19 of the schools analyzed in Chicago run one.
Public and Private Business Schools in Chicago
1 of the 18 ranked business schools in Chicago is public and 17 are private, and that split drives most of the $54,657 tuition spread above. The public rate is a residency benefit: University of Illinois Chicago charges $12,789 in-state and $28,849 out of state, so where a student already lives changes this ranking more than any other single factor.
Private schools discount heavily off the published number, which is why sticker price alone is a poor comparison. Completion is the better lens: the 18 ranked schools average 70%, from 50% to 96%, and a cheap degree that does not finish is not a saving. Run each school's own net price calculator before ruling one out on tuition.
Why Study Business in Chicago
Being on a campus among the business schools in Chicago puts a student inside the employer network that school recruits into, close enough for an internship during term rather than only over the summer, and internships are what turn an undergraduate business degree into a first job.
The 18 ranked schools sit across 11 towns in the metro, among them Evanston, Chicago, Lake Forest, and the table names the city of each, so check the commute before assuming a suburban campus is the convenient option. 5 of the 18 also run a confirmed online option for students who cannot be on campus daily.
Business Schools in Chicago: Frequently Asked Questions
What is the best business school in Chicago?
By Hakia Score, Northwestern University ranks first among the 18 ranked business schools in Chicago, with a 97.1 score and a 95% graduation rate. The score weighs graduation rate, selectivity, cost, and outcomes together, so the top school balances all four rather than winning on any one of them.
Can you study business part-time in Chicago?
Yes. Evening, weekend and part-time formats are common across the business schools in Chicago, and in a metro this size most schools run at least one. The tradeoff is length rather than content: the same credential takes longer while you keep working. Ask each school for the completion rate of its part-time cohort specifically, since it often differs from the headline graduation rate this ranking uses.
How much does a business degree cost in Chicago?
Tuition among the ranked Chicago schools runs from $12,789 to $67,446 a year. Public schools publish the in-state resident rate, so students moving in from another state should check the out-of-state column before comparing. Neither figure includes Chicago living costs, which are a real part of the total.
How many business schools in Chicago does this ranking cover?
We analyzed 290 accredited business programs across Chicago and the surrounding metro and ranked the top 18 schools, listing one entry per school on its strongest program. This list covers the Chicago metro, so some schools sit outside the city line; the city of each is shown in the table.
Is it worth studying business in Chicago instead of online?
Only 5 of the 18 ranked schools are confirmed online, so in Chicago the campus route is the one most of this list offers. An accredited online program carries identical standing on a transcript, since accreditation attaches to the school and the program rather than to the delivery format. What a campus adds is proximity to the employers that school recruits into, and at $12,789 in-state, University of Illinois Chicago is what that proximity costs at the low end here. The honest comparison is local access against the cost of being here.
How We Rank Business Schools in Chicago
Every program earns a Hakia Score from 0 to 100, built only from federal data (IPEDS, the U.S. Department of Education, and BLS) and scored against its true peers: programs in the same field at the same degree level. No reputation surveys, no pay-to-play. Here is how the score is weighted:
- Outcomes44%
Graduation rate (26%) and real per-school graduate earnings (18%). Does the program get students to the finish line, and where do they land?
- Selectivity & academics38%
Admissions selectivity (24%) and the academic profile of admitted students (14%).
- Scale & value18%
Enrollment (7%), cost-to-earnings value (6%), and the number of graduates a program produces (5%).
Weights renormalize over the data each program actually reports, so a school missing a metric (many open-access colleges do not publish entrance scores or earnings) is never penalized for it. Scores are percentiles within the peer group, curved to a 0-to-100 scale. What the score does not measure: individual instructor quality, specific course content, or campus culture. Verify those directly with the program.