The Best MBA Programs in Chicago for 2026
The best MBA programs 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 24 accredited MBA 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 $8,040 to $67,446 a year, a $59,406 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 MBA programs in Chicago the average graduation rate is 65%, ranging from 15% to 96%. 2 of the 18 are public and 16 are private, a split that drives most of the price gap below. National median pay for the field is $105,770 a year per the BLS, the benchmark every school on this list feeds into regardless of what it charges.
Below is the full ranked table, followed by a school-by-school look at what actually separates the MBA programs 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 MBA Programs in Chicago
- Northwestern University ranks first among MBA programs in Chicago with a 97.1 Hakia Score and a 95% graduation rate.
- Tuition across the 18 ranked MBA programs in Chicago spans $8,040 to $67,446 a year, a $59,406 gap for the same credential.
- The 18 ranked MBA programs in Chicago graduate 65% of students on average, from 15% to 96%.
- 2 of the 18 ranked schools are public, where the in-state rate is what Illinois residents actually pay.
- 7 of the 18 offer a confirmed online option, which matters in a city where commuting time is the real cost.
- National median pay in the field is $105,770 (BLS), the same benchmark whichever Chicago school a student picks.
Hakia analyzed 24 accredited MBA 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 MBA Programs 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% | 95.0 |
| 3 | Illinois Institute of TechnologyChicago, IL | Nonprofit | $50,636 | 75% | 55% | 88.4 |
| 4 | DePaul UniversityChicago, IL | Nonprofit | $44,601 | 68% | 76% | 86.0 |
| 5 | Loyola University ChicagoChicago, IL · online option | Nonprofit | $52,230 | 73% | 82% | 84.5 |
| 6 | University of Illinois ChicagoChicago, IL · online option | Public | $12,789 | 62% | 77% | 84.2 |
| 7 | Lake Forest Graduate School of ManagementLake Forest, IL · online option | Nonprofit | NR | NR | NR | 84.2 |
| 8 | Elmhurst UniversityElmhurst, IL | Nonprofit | $42,495 | 70% | 74% | 79.7 |
| 9 | University of St FrancisJoliet, IL · online option | Nonprofit | $38,110 | 67% | 65% | 77.8 |
| 10 | Lewis UniversityRomeoville, IL · online option | Nonprofit | $38,800 | 67% | 71% | 77.3 |
| 11 | North Central CollegeNaperville, IL | Nonprofit | $45,446 | 64% | 77% | 77.1 |
| 12 | Olivet Nazarene UniversityBourbonnais, IL · online option | Nonprofit | $37,910 | 61% | 56% | 75.4 |
| 13 | Judson UniversityElgin, IL · online option | Nonprofit | $29,237 | 60% | 48% | 75.0 |
| 14 | North Park UniversityChicago, IL | Nonprofit | $36,070 | 58% | 69% | 74.0 |
| 15 | Aurora UniversityAurora, IL | Nonprofit | $28,800 | 60% | 81% | 71.5 |
| 16 | Saint Xavier UniversityChicago, IL | Nonprofit | $37,755 | 57% | 84% | 71.5 |
| 17 | Chicago State UniversityChicago, IL | Public | $8,040 | 15% | 43% | 70.4 |
| 18 | Benedictine UniversityLisle, IL | Nonprofit | $31,126 | 50% | 95% | 68.8 |
NR — not reported by the institution in the latest IPEDS collection.
How the Top MBA Programs 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 MBA Programs 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 65% 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 MBA 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 79.9 group average. The program graduates 95% of its students, above the 65% average across the ranked schools. Northwestern admits 8% of applicants, more selective than the 63% 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 15% 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 $8,040 at Chicago State 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 65% average across this ranking, on a 95.0 Hakia Score.
- Hakia Score 95.0, #2 of 18
- 96% graduation rate
- $67,446 tuition
- Most selective program here
UChicago is a private, nonprofit institution in Chicago, IL. Its MBA program ranks #2 of the 18 analyzed here with a 95.0 Hakia Score, a composite of graduation rate, cost, selectivity, and graduate outcomes. That sits above the 79.9 group average, in the top third of the 18 ranked programs, 2.1 points behind top-ranked Northwestern. The program graduates 96% of its students, above the 65% average across the ranked schools. UChicago admits 4% of applicants, more selective than the 63% average for the group. Its completion rate lands among the strongest in a group where graduation runs from 15% 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 $8,040 at Chicago State 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 65% average across this ranking, on an 88.4 Hakia Score.
- Hakia Score 88.4, #3 of 18
- 75% graduation rate
- $50,636 tuition
- Admits just 55% of applicants
Illinois Tech is a private, nonprofit institution in Chicago, IL. Its MBA program ranks #3 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 79.9 group average, in the top third of the 18 ranked programs. The program graduates 75% of its students, above the 65% average across the ranked schools. Illinois Tech admits 55% of applicants, more selective than the 63% 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 15% 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 $8,040 at Chicago State 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.
DePaul University
Chicago, IL · Nonprofit
- Grad rate
- 68%
- Admit rate
- 76%
- In-state
- $44,601
- Out-of-state
- $44,601
DePaul graduates 68% of its students, above the 65% average across this ranking, on an 86.0 Hakia Score.
- Hakia Score 86.0, #4 of 18
- 68% graduation rate
- $44,601 tuition
- Admits just 76% of applicants
DePaul is a private, nonprofit institution in Chicago, IL. Its MBA program ranks #4 of the 18 analyzed here with an 86.0 Hakia Score, a composite of graduation rate, cost, selectivity, and graduate outcomes. That sits above the 79.9 group average, in the top third of the 18 ranked programs. The program graduates 68% of its students, above the 65% average across the ranked schools. DePaul admits 76% of applicants, less selective than the 63% 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 15% 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 at the higher end on this list, where annual in-state tuition runs from $8,040 at Chicago State 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.
Loyola University Chicago
Chicago, IL · Nonprofit · online option
- 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 65% average across this ranking, on an 84.5 Hakia Score.
- Hakia Score 84.5, #5 of 18
- 73% graduation rate
- $52,230 tuition
- Online option available
Based in Chicago, IL, Loyola University Chicago is a private, nonprofit institution. Its MBA program lands at #5 of the 18 ranked here, earning an 84.5 Hakia Score that weighs graduation rate, cost, selectivity, and outcomes. That sits above the 79.9 group average, in the top third of the 18 ranked programs. The program graduates 73% of its students, above the 65% average across the ranked schools. Loyola University Chicago admits 82% of applicants, less selective than the 63% 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 15% to 96%. The university enrolls 17,384 students overall. The degree is also offered online, which widens access for working students.
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 $8,040 at Chicago State 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 an online option.
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 mba programs ranked here, holding an 84.2 Hakia Score on a 62% graduation rate.
- Hakia Score 84.2, #6 of 18
- 62% graduation rate
- $12,789 in-state vs $28,849 out-of-state
- Largest campus in this ranking
UIC is a public institution in Chicago, IL. Its MBA program ranks #6 of the 18 analyzed here with an 84.2 Hakia Score, a composite of graduation rate, cost, selectivity, and graduate outcomes. That sits above the 79.9 group average, in the top third of the 18 ranked programs. The program graduates 62% of its students, below the 65% average across the ranked schools. UIC admits 77% of applicants, less selective than the 63% 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 15% 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 $8,040 at Chicago State 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.
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 #7 of the 18 mba programs in this analysis, with an 84.2 Hakia Score.
- Hakia Score 84.2, #7 of 18
- Smallest campus in this ranking
Lake Forest Graduate School of Management is a private, nonprofit institution in Lake Forest, IL. Its MBA program ranks #7 of the 18 analyzed here with an 84.2 Hakia Score, a composite of graduation rate, cost, selectivity, and graduate outcomes. That sits above the 79.9 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 65% average across this ranking, on a 79.7 Hakia Score.
- Hakia Score 79.7, #8 of 18
- 70% graduation rate
- $42,495 tuition
- Admits just 74% of applicants
Based in Elmhurst, IL, Elmhurst is a private, nonprofit institution. Its MBA program lands at #8 of the 18 ranked here, earning a 79.7 Hakia Score that weighs graduation rate, cost, selectivity, and outcomes. That sits below the 79.9 group average, in the middle third of the 18 ranked programs. The program graduates 70% of its students, above the 65% average across the ranked schools. Elmhurst admits 74% of applicants, less selective than the 63% 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 15% 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 $8,040 at Chicago State 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 graduates 67% of its students, above the 65% average across this ranking, on a 77.8 Hakia Score.
- Hakia Score 77.8, #9 of 18
- 67% graduation rate
- $38,110 tuition
- Online option available
St Francis is a private, nonprofit institution in Joliet, IL. Its MBA program ranks #9 of the 18 analyzed here with a 77.8 Hakia Score, a composite of graduation rate, cost, selectivity, and graduate outcomes. That sits below the 79.9 group average, in the middle third of the 18 ranked programs. The program graduates 67% of its students, above the 65% average across the ranked schools. St Francis admits 65% of applicants, less selective than the 63% 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 15% 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 $8,040 at Chicago State 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 an online option.
Lewis University
Romeoville, IL · Nonprofit · online option
- Grad rate
- 67%
- Admit rate
- 71%
- In-state
- $38,800
- Out-of-state
- $38,800
Lewis graduates 67% of its students, above the 65% average across this ranking, on a 77.3 Hakia Score.
- Hakia Score 77.3, #10 of 18
- 67% graduation rate
- $38,800 tuition
- Online option available
Based in Romeoville, IL, Lewis is a private, nonprofit institution. Its MBA program lands at #10 of the 18 ranked here, earning a 77.3 Hakia Score that weighs graduation rate, cost, selectivity, and outcomes. That sits below the 79.9 group average, in the middle third of the 18 ranked programs. The program graduates 67% of its students, above the 65% average across the ranked schools. Lewis admits 71% of applicants, less selective than the 63% 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 15% to 96%. The university enrolls 7,011 students overall. The degree is also offered online, which widens access for working students.
On cost, Lewis charges $38,800 a year in-state. That puts it mid-pack on price on this list, where annual in-state tuition runs from $8,040 at Chicago State 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 an online option.
North Central College
Naperville, IL · Nonprofit
- Grad rate
- 64%
- Admit rate
- 77%
- In-state
- $45,446
- Out-of-state
- $45,446
North Central College ranks #11 of the 18 mba programs in this analysis, with a 77.1 Hakia Score and a 64% graduation rate.
- Hakia Score 77.1, #11 of 18
- 64% graduation rate
- $45,446 tuition
- Admits just 77% of applicants
North Central College is a private, nonprofit institution in Naperville, IL. Its MBA program ranks #11 of the 18 analyzed here with a 77.1 Hakia Score, a composite of graduation rate, cost, selectivity, and graduate outcomes. That sits below the 79.9 group average, in the middle third of the 18 ranked programs. The program graduates 64% of its students, below the 65% average across the ranked schools. North Central College admits 77% of applicants, less selective than the 63% 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 15% to 96%. It is one of the smaller campuses here, with 3,003 students.
On cost, North Central College charges $45,446 a year in-state. That puts it at the higher end on this list, where annual in-state tuition runs from $8,040 at Chicago State 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.
Olivet Nazarene University
Bourbonnais, IL · Nonprofit · online option
- Grad rate
- 61%
- Admit rate
- 56%
- In-state
- $37,910
- Out-of-state
- $37,910
Olivet Nazarene ranks #12 of the 18 mba programs in this analysis, with a 75.4 Hakia Score and a 61% graduation rate.
- Hakia Score 75.4, #12 of 18
- 61% graduation rate
- $37,910 tuition
- Online option available
Olivet Nazarene is a private, nonprofit institution in Bourbonnais, IL. Its MBA program ranks #12 of the 18 analyzed here with a 75.4 Hakia Score, a composite of graduation rate, cost, selectivity, and graduate outcomes. That sits below the 79.9 group average, in the middle third of the 18 ranked programs. The program graduates 61% of its students, below the 65% average across the ranked schools. Olivet Nazarene admits 56% of applicants, more selective than the 63% 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 15% to 96%. It is one of the smaller campuses here, with 3,339 students. The degree is also offered online, which widens access for working students.
On cost, Olivet Nazarene charges $37,910 a year in-state. That puts it mid-pack on price on this list, where annual in-state tuition runs from $8,040 at Chicago State 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 genuine selectivity paired with an online option.
Judson University
Elgin, IL · Nonprofit · online option
- Grad rate
- 60%
- Admit rate
- 48%
- In-state
- $29,237
- Out-of-state
- $29,237
At $29,237 a year in-state, Judson is among the more affordable mba programs ranked here, holding a 75.0 Hakia Score on a 60% graduation rate.
- Hakia Score 75.0, #13 of 18
- 60% graduation rate
- $29,237 tuition
- Online option available
Judson is a private, nonprofit institution in Elgin, IL. Its MBA program ranks #13 of the 18 analyzed here with a 75.0 Hakia Score, a composite of graduation rate, cost, selectivity, and graduate outcomes. That sits below the 79.9 group average, in the lower third of the 18 ranked programs. The program graduates 60% of its students, below the 65% average across the ranked schools. Judson admits 48% of applicants, more selective than the 63% 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 15% to 96%. It is one of the smaller campuses here, with 960 students. The degree is also offered online, which widens access for working students.
On cost, Judson charges $29,237 a year in-state. That puts it among the most affordable on this list, where annual in-state tuition runs from $8,040 at Chicago State 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 low in-state cost paired with genuine selectivity.
North Park University
Chicago, IL · Nonprofit
- Grad rate
- 58%
- Admit rate
- 69%
- In-state
- $36,070
- Out-of-state
- $36,070
At $36,070 a year in-state, North Park is among the more affordable mba programs ranked here, holding a 74.0 Hakia Score on a 58% graduation rate.
- Hakia Score 74.0, #14 of 18
- 58% graduation rate
- $36,070 tuition
- Admits just 69% of applicants
North Park is a private, nonprofit institution in Chicago, IL. Its MBA program ranks #14 of the 18 analyzed here with a 74.0 Hakia Score, a composite of graduation rate, cost, selectivity, and graduate outcomes. That sits below the 79.9 group average, in the lower third of the 18 ranked programs. The program graduates 58% of its students, below the 65% average across the ranked schools. North Park admits 69% of applicants, less selective than the 63% 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 15% to 96%. It is one of the smaller campuses here, with 2,557 students.
On cost, North Park charges $36,070 a year in-state. That puts it among the most affordable on this list, where annual in-state tuition runs from $8,040 at Chicago State 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 low in-state cost.
Aurora University
Aurora, IL · Nonprofit
- Grad rate
- 60%
- Admit rate
- 81%
- In-state
- $28,800
- Out-of-state
- $28,800
At $28,800 a year in-state, Aurora is among the more affordable mba programs ranked here, holding a 71.5 Hakia Score on a 60% graduation rate.
- Hakia Score 71.5, #15 of 18
- 60% graduation rate
- $28,800 tuition
- Admits just 81% of applicants
Based in Aurora, IL, Aurora is a private, nonprofit institution. Its MBA program lands at #15 of the 18 ranked here, earning a 71.5 Hakia Score that weighs graduation rate, cost, selectivity, and outcomes. That sits below the 79.9 group average, in the lower third of the 18 ranked programs. The program graduates 60% of its students, below the 65% average across the ranked schools. Aurora admits 81% of applicants, less selective than the 63% 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 15% to 96%. The university enrolls 5,923 students overall.
On cost, Aurora charges $28,800 a year in-state. That puts it among the most affordable on this list, where annual in-state tuition runs from $8,040 at Chicago State 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 low in-state cost.
Saint Xavier University
Chicago, IL · Nonprofit
- Grad rate
- 57%
- Admit rate
- 84%
- In-state
- $37,755
- Out-of-state
- $37,755
Saint Xavier ranks #16 of the 18 mba programs in this analysis, with a 71.5 Hakia Score and a 57% graduation rate.
- Hakia Score 71.5, #16 of 18
- 57% graduation rate
- $37,755 tuition
- Admits just 84% of applicants
Based in Chicago, IL, Saint Xavier is a private, nonprofit institution. Its MBA program lands at #16 of the 18 ranked here, earning a 71.5 Hakia Score that weighs graduation rate, cost, selectivity, and outcomes. That sits below the 79.9 group average, in the lower third of the 18 ranked programs. The program graduates 57% of its students, below the 65% average across the ranked schools. Saint Xavier admits 84% of applicants, less selective than the 63% 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 15% to 96%. It is one of the smaller campuses here, with 3,485 students.
On cost, Saint Xavier charges $37,755 a year in-state. That puts it mid-pack on price on this list, where annual in-state tuition runs from $8,040 at Chicago State 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.
Chicago State University
Chicago, IL · Public
- Grad rate
- 15%
- Admit rate
- 43%
- In-state
- $8,040
- Out-of-state
- $8,040
At $8,040 a year in-state, Chicago State is among the more affordable mba programs ranked here, holding a 70.4 Hakia Score on a 15% graduation rate.
- Hakia Score 70.4, #17 of 18
- 15% graduation rate
- $8,040 tuition
- Lowest in-state tuition here
Chicago State is a public institution in Chicago, IL. Its MBA program ranks #17 of the 18 analyzed here with a 70.4 Hakia Score, a composite of graduation rate, cost, selectivity, and graduate outcomes. That sits below the 79.9 group average, in the lower third of the 18 ranked programs. The program graduates 15% of its students, below the 65% average across the ranked schools. Chicago State admits 43% of applicants, more selective than the 63% 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 15% to 96%. It is one of the smaller campuses here, with 2,238 students.
On cost, Chicago State charges $8,040 a year in-state. That puts it among the most affordable on this list, where annual in-state tuition runs from $8,040 at Chicago State to $67,446 at UChicago. For prospective students, the draw here is low in-state cost paired with genuine selectivity.
Benedictine University
Lisle, IL · Nonprofit
- Grad rate
- 50%
- Admit rate
- 95%
- In-state
- $31,126
- Out-of-state
- $31,126
At $31,126 a year in-state, Benedictine is among the more affordable mba programs ranked here, holding a 68.8 Hakia Score on a 50% graduation rate.
- Hakia Score 68.8, #18 of 18
- 50% graduation rate
- $31,126 tuition
- Admits just 95% of applicants
Based in Lisle, IL, Benedictine is a private, nonprofit institution. Its MBA program lands at #18 of the 18 ranked here, earning a 68.8 Hakia Score that weighs graduation rate, cost, selectivity, and outcomes. That sits below the 79.9 group average, in the lower third of the 18 ranked programs. The program graduates 50% of its students, below the 65% average across the ranked schools. Benedictine admits 95% of applicants, less selective than the 63% 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 15% to 96%. It is one of the smaller campuses here, with 2,917 students.
On cost, Benedictine charges $31,126 a year in-state. That puts it among the most affordable on this list, where annual in-state tuition runs from $8,040 at Chicago State 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 low in-state cost.
What MBA Programs in Chicago Cost
Tuition across the 18 ranked schools runs from $8,040 to $67,446 a year. Chicago State University anchors the low end at $8,040 a year, while University of Chicago sits at the top at $67,446. The cheapest public option among the MBA programs in Chicago is Chicago State University at $8,040; the cheapest private is Aurora University at $28,800.
Over the two years the credential takes, that is roughly $16,080 in tuition at Chicago State University against about $134,892 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.
How Selective MBA Programs in Chicago Are
Admission odds across the MBA programs in Chicago are nowhere near uniform. University of Chicago admits 4% of applicants, the tightest on this list, while Benedictine University in Lisle admits 95%. A candidate with an uneven undergraduate record has real options here without leaving Chicago.
That is a 91-point spread, wide enough that the MBA programs in Chicago do not form a single tier. A file that is competitive at Benedictine University in Lisle will not necessarily clear University of Chicago, so applying across the range rather than within one band is the sensible strategy here. Completion does not follow the same order: University of Chicago finishes 96% of its students, the strongest on this list on a 4% admit rate, which is why selectivity is one input to the Hakia Score rather than the score itself.
Accreditation Across Chicago Business Schools
The MBA programs in Chicago lean private: 16 of the 18 ranked schools are private against 2 public, which is most of why the tuition column above spans what it does. Accreditation is what makes those prices comparable at all. For an MBA the signal employers read is business-school accreditation from AACSB sitting on top of the university's institutional accreditation, and a private school charging $67,446 is not thereby carrying it. Confirm it on the school's own page: Aurora University at $28,800 and the priciest name on this list are held to the same standard.
Why Study for an MBA in Chicago
The 18 ranked schools are spread across 11 towns, which makes "Chicago" a looser description than the heading suggests. Northwestern University in Evanston tops the list, with University of Chicago and Illinois Institute of Technology behind it, and the table names the town of each. For a part-time cohort meeting on weeknights that spread is the deciding constraint: a campus across the metro is a different degree from one on the way home, whatever the ranking says.
7 of the 18 also run a confirmed online option, which keeps the credential but gives up most of the local access that justifies studying in Chicago in the first place.
Careers and Pay After a Chicago MBA
Every one of the MBA programs in Chicago points toward the same national labor market. The Bureau of Labor Statistics puts national median pay for the field at $105,770 a year, a figure that describes the profession rather than any single school here, and it holds whether a graduate paid $8,040 at Chicago State University or $67,446 at University of Chicago. That is the tradeoff this ranking exists to expose: in the federal wage data, a higher price does not buy a higher salary.
Set against a single national benchmark, the 8-fold tuition spread on this page is the reason to look hard at the cheap end before the famous end. Chicago State University and University of Chicago feed graduates into the same wage distribution, and nothing in the federal data attaches a higher salary to the higher price. Pay in a metro the size of Chicago generally runs above the national median, and so does the cost of living that absorbs it. Full occupational detail, including job-growth projections and metro wage breakdowns, is published by the BLS.
MBA Programs in Chicago: Frequently Asked Questions
What is the best MBA program in Chicago?
By Hakia Score, Northwestern University ranks first among the 18 ranked MBA programs 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.
Do MBA programs in Chicago require the GMAT?
Fewer of them every year, and the 18 ranked here are not uniform about it. University of Chicago is the tightest on this list at 4% and Benedictine University in Lisle the most open at 95%, so the answer depends on which of them a candidate is applying to. Many programs now waive the GMAT or GRE for applicants with several years of relevant work, and the terms differ program by program, so check them on each school's admissions page before registering for a test. A waiver saves the fee and the study time, and it does not loosen the rest of the file.
How much does an MBA cost in Chicago?
Tuition among the ranked Chicago schools runs from $8,040 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 MBA programs in Chicago does this ranking cover?
We analyzed 24 accredited MBA 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 doing an MBA in Chicago instead of online?
7 of the 18 ranked schools run a confirmed online option, so in Chicago this is a live choice rather than a hypothetical one. 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 $8,040 in-state, Chicago State University is what that proximity costs at the low end here. The honest comparison is local access against the cost of being here.
What salary can graduates expect?
The BLS reports a national median of $105,770 a year for the field. It is a national benchmark rather than a Chicago figure or a promise from any school on this page. Its use is scale: the same median sits behind Chicago State University at $8,040 a year and University of Chicago at $67,446, and that is the comparison worth making before committing to the second.
How We Rank MBA Programs 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.