Brigham Young University's master of business administration program provides graduates with the country's fastest return on their financial investment, according to BusinessWeek magazine.
As reported in this week's issue of the magazine, BYU MBA graduates take less than four years to pay off their education, compared with 14 years for Harvard graduates and 15 years for those from MIT.
The reason? BYU's Marriott School of Management charges a relatively low tuition and students command very competitive salaries at graduation, says Joseph Ogden, Marriott School assistant dean.
"We provide a top business education at a reasonable price and that translates into big benefits down the road for our students," Ogden says. "Compared to many other prestigious schools, that road is a lot shorter."
BusinessWeek estimates the average price (including two year's tuition, fees, living expenses and forgone pre-MBA salary) of a BYU MBA is slightly more than $133,000 and gives graduates about a $35,000 increase from their pre-MBA salary. At the other end of the spectrum, a Harvard MBA costs roughly $345,000 and earns about a $24,000 salary premium; an MBA from MIT's Sloan School of Management costs roughly $324,000 and earns about a $21,500 salary premium.
