MBA Programs in New York Overview

A bad business day in New York still beats a good business day in any other state. No other state in the country has a city with a larger consumer base than New York City. The city alone has a gross metropolitan product of $2 trillion and a population of 8.3 million people.

Earning a master of business administration (MBA) in New York can kick off your career and put you in a high pay bracket. Roles available to MBA degree holders include chief executive, marketing manager, business intelligence analyst, and project manager. If you can earn an MBA in New York, you can make it anywhere.

Want to start an exciting and lucrative career in New York? Learn more about the best business schools in New York, tuition costs, and salary expectations.

Not many states offer a better opportunity for a business career than New York, a state with a global reputation. New York offers one of the most diverse talent pools, with a workforce that is about 47% immigrants. People come to New York for career and educational opportunities that do not exist elsewhere.

As a bonus: When you earn an MBA in New York, you’ll get a good return on your investment. New York stands as a global epicenter of business with more than 50 Fortune 500 companies. New York pays business and financial operations occupations the second-highest salaries in the country, according to the Bureau of Labor Statistics (BLS). These professionals earned an annual mean wage of $107,140 in 2022.

Accreditation validates that a school or program meets certain academic standards. Colleges and universities receive institutional accreditation from one of 19 accrediting organizations. In New York, the Middle States Commission on Higher Education ensures the quality of academics for institutions like NYU and Cornell. If you need federal loans and grants, you must attend an accredited college.

MBA programs receive programmatic accreditation from the Association to Advance Collegiate Schools of Business. As a student, you want to invest your time and money in a program that employers recognize and other schools value. Not to mention, without accreditation, you may have trouble transferring credits to another college.

New York offers a wealth of financial aid options to MBA students. Every year, New York distributes millions in scholarship aid to students based on their school, background, academics, or major. Corporations, local businesses, and nonprofits offer scholarships to students living in New York. To find opportunities, visit the state Higher Education Services Corporation, which aggregates scholarships, loans, and grants available to New Yorkers. Keep in mind that scholarships offer “free money” that you do not repay. Grants may come with work term agreements and loans have varying interest rates.

If you go to a public grad school, you will pay about $12,394, based on national averages for the class of 2020-2021, according to the National Center for Education Statistics (NCES). Grad students at private colleges paid as much as $28,445.

New York rewards residents with in-state college tuition. Residency requirements vary by college. It generally takes 12 months of living in a state to establish residency. Without proof of residency, you can pay double, if not more, for tuition.

Colleges may offer high-achieving students in-state tuition regardless of their state of residency, especially if they enroll in online programs. Veterans and their children and spouses could also qualify for out-of-state tuition exemptions at certain institutions. According to New York law, undocumented students can qualify for lower college tuition rates if they attend a state high school for at least two years.

However, New York does not maintain any reciprocity agreements.

As New York is the fifth-most expensive state in the country, MBA applicants may be wary of enrolling in school there. However, while students at public four-year colleges in 2020-2021 paid a national average of $9,375 in tuition, New York public college students paid an average of $8,416 for tuition, according to NCES.

Living in New York comes with higher costs. New York’s cost-of-living index stands at 125.10, according to the World Population Review. The national baseline is 100. “Cost of living” includes what you’ll likely pay for food, housing, transportation, and healthcare in a state or region. Across New York, the cost of living ranges widely from region to region.

Yes. New York boasts two Ivy League colleges: Cornell and Columbia. These two schools are among eight of the most prestigious institutions in the United States. Unlike public universities or colleges, Ivy League colleges are highly selective in the admissions process, accepting less than 10% of applicants.

No. NYU ranks among the top private colleges in the country but does not enjoy membership in the Ivy League. That said, NYU’s reputation extends beyond the city with portal campuses that award degrees in Abu Dhabi, Shanghai, and 12 additional international locations.

Attending business schools in New York, especially at private colleges, costs more than public institutions. As a private college, NYU charges $2,101 per credit for graduate students. Cornell MBA students in 2023-2024 will pay $79,910 for tuition.

In terms of admittance, Columbia ranks as the most selective college in New York, with an overall acceptance rate of 7%. Cornell comes in as the second-most selective college, with a rate of 11%. Barnard College is third, with an acceptance rate of 14%.

That said, NYU’s Stern ranks among the most selective business schools in New York, receiving 3,553 applications for the class of 2024 and admitting only 962.