MBA Programs in New York Overview
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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.
| Population | 19,835,913 |
|---|---|
| Climate | Average Annual Temperature: 45.4 F Annual Precipitation: 41.8 inches |
| Number of Higher Learning Institutions | 79 |
| Per Capita Income | $43,208 |
| Fortune 500 Companies | 53 |
Featured Online MBA Programs
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
3 New York Schools for MBA Degrees
New York University
New York University offers a premier private education from Greenwich Village, steps from Washington Square Park. The history of NYU dates back to 1831 when Albert Gallatin, former secretary of the treasury for Presidents Thomas Jefferson and James Madison, set out to establish a college fit for "the immense and fast-growing city" of New York. Today, the 50,000 students who study at NYU major in more than 270 subjects.
- Public or Private Institution: Private
- Average Undergraduate Tuition & Fees: $52,204
- Acceptance Undergraduate Rate: 13%
- Number of MBA applicants: 3,553
Leonard N. Stern School of Business
The Leonard N. Stern School of Business, one of the best business schools in New York, began in 1900 as the School of Commerce, Accounts, and Finance. Now the school enrolls more than 2,500 students and 669 MBA students and employs over 200 faculty members.
You can complete the general 60-credit MBA degree in two years by studying full time, or in 2-6 years on a part-time schedule. There's also an online master's in quantitative management, which includes core coursework in business and data analytics. Stern's corporate partners — which include Deutsche Post DHL, Humanity United, Google, Microsoft, and the Ewing Marion Kauffman Foundation — recruit students and partner with Stern's graduate learners to tackle business challenges.
Stern's MBA Specializations
Tech | Fashion and Luxury | Quantitative Management/Analytics | MD/MBA | JD/MBA | MBA/MFA | Mathematics in Finance/MBA | MBA/MPA | Biology/MBA | Dual MBA With HEC | DDS/MBA
Applying to NYU
Prospective MBA students must have a bachelor's degree from an accredited college and a mastery of English. You also need to submit GRE, GMAT, LSAT, MCAT, or DAT scores. There's no GPA requirement. Selection is based on academics, professional achievements, and your personal character.
Cornell University
Founded in 1865, Cornell University is one of the newest Ivy League institutions. The campus is in Ithaca, New York, and houses 17 colleges and schools that serve its 15,735 undergraduates and 10,163 graduate students.
- Public or Private Institution: Private
- Average Undergraduate Tuition & Fees: $58,586
- Undergraduate Acceptance Rate: 11%
- Number of MBA applicants: 2,555 applications
SC Johnson College of Business
The SC Johnson College of Business' three schools — Dyson, Nolan, and Johnson — boast a total endowment of $120 million. The college traces its inception back to 1946.
SC Johnson offers multiple MBA programs. You can choose from a two-year MBA program with a summer internship or a one-year Johnson Cornell tech MBA in New York City. There's also specialized MBA degrees, including a program that partners with Tsinghua University. The tech MBA degree, which emphasizes data analytics and technology, offers STEM optional practical training so international students can work in the country for up to 36 months. According to Cornell, graduates of the two-year MBA in tech make an average annual salary of $132,080.
Johnson's MBA Specializations
Tech MBA | Executive MBA | Executive MBA/MS in Healthcare Leadership | MBA/FMBA | Bachelor's/MBA | JD/MBA | MILR/MBA | MPA/MBA
Applying to Cornell
Cornell seeks MBA applicants with competitive GPAs, bachelor's degrees from accredited schools, resumes that outline professional accomplishments, and personal essays. You'll also need to submit GMAT or GRE scores.
University at Buffalo
The University at Buffalo, with three Upstate New York campuses, began in 1846 as a private medical school. UB now features 13 schools and colleges that offer more than 450 degrees for its 19,331 undergrads and 11,121 graduate students.
- Public or Private Institution: Public
- Average Undergraduate Tuition & Fees: $7,070 (in state); $24,740 (out of state)
- Undergraduate Acceptance Rate: 67%
- Number of MBA applicants: 231
University at Buffalo School of Management
UB's School of Management, among the top business schools in New York, opened in 1923 and began offering a master's of business administration in 1931. The school features 403 MBA students, with 45,900 alumni around the globe.
As a business student, you have the option of a 60-credit full-time MBA, a 48-credit online MBA, or a 24-month professional MBA program with a hybrid format. The MBA program, as a STEM program, qualifies for optional practical training, which can grant international students an additional 24 months in the country. Recruiters at companies such as Boeing, Capco, Freddie Mac, London Stock Exchange Group, and Walton Global Holdings seek out UB's business students. The Career Resources Center also connects students with companies through career fairs.
School of Management's MBA Specializations
Analytics | Finance | Health Care Management | Information Security Management | Information Systems and E-Business | International Management | Management Consulting | Marketing Management | Operations and Supply Chain Management
Applying to UB
To enroll as an MBA student, your application needs to include GRE or GMAT scores, a personal statement, resume, and official transcripts. You can get an exemption from the standardized test requirement if you have two years of professional experience and a bachelor's degree in a STEM major, a GPA of at least 3.25, or a graduate degree.
Why Go to a Business School in New York?
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 for New York Schools
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.
Paying for Your MBA Degree
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.
In-State vs. Out-of-State Tuition
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.
Cost of Living in New York
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.
Careers for MBA Graduates in New York
An MBA degree opens the doors to six-figure executive and management positions in a variety of different industries. New York is the epicenter of the financial world with the New York Stock Exchange, which was founded in 1792. New York's real GDP stood at $1.56 trillion in 2022, topping the previous year.
The average annual salary for an MBA degree holder is $96,000, according to Payscale. In New York, you could become a chief executive working in local government or a financial manager, roles that earn above six figures.
A graduate degree offers a competitive edge to start a career in New York. The New York State Department of Labor projects that careers in business and financial operations will grow 1.8% from 2020-2030, with employers adding 75,127 positions. Sales employment is projected to see an uptick of 1.6%, with 132,440 new positions.
Popular MBA Careers in New York
Chief Executives
Chief executives head companies, where they oversee the executive leadership teams. They implement organization strategies and monitor finances and budgets. Out of 199,240 chief executives who work in the country, some 15,160 work in local government. Others work at private companies, elementary and secondary schools, and computer systems design.
Job Outlook in New York (2020-2030): 0.2%
Financial Managers
Financial managers supervise teams that offer transparency of a company's financial health based. Much of a financial manager's time goes toward analyzing financial data. They manage financial forecasts and revenue and margin budgeting. In New York and nationwide, you'll find financial managers working at finance and insurance companies, government, manufacturing and technical services.
Job Outlook in New York (2020-2030): 11%
Sales Managers
Sales managers oversee sales teams to ensure that companies meet sales targets and sales quotas. Their work plays a key role in building a company's national and global footprint. Many use data-driven strategies to boost sales. As of 2021, sales managers held roughly 469,800 jobs in the country, according to the BLS. Most work in wholesale trade, but they also find careers in retail, finance and insurance, and manufacturing.
Job Outlook in New York (2020-2030): 17.3%
| Career | New York Employment | New York Average Annual Salary | National Average Annual Salary |
|---|---|---|---|
| Accountants and Auditors | 118,870 | $110,320 | $86,740 |
| Administrative Services Managers | 11,730 | $146,810 | $115,640 |
| Advertising and Promotions Managers | 5,000 | $194,240 | $147,050 |
| Budget Analysts | 3,120 | $96,230 | $87,680 |
| Chief Executives | 4,910 | $324,370 | $246,440 |
| Compensation, Benefits, and Job Analysis Specialists | 7,570 | $84,730 | $75,920 |
| Financial Analysts | 46,720 | $140,880 | $108,790 |
| Financial Managers | 55,560 | $228,160 | $166,050 |
| Fundraising Managers | 3,070 | $171,720 | $124,450 |
| General and Operations Managers | 212,710 | $157,260 | $122,860 |
| Management Analysts | 57,260 | $120,730 | $104,660 |
| Marketing Managers | 34,990 | $190,230 | $158,280 |
| Project Management Specialists | 63,090 | $117,020 | $101,610 |
| Public Relations Managers | 5,710 | $183,160 | $150,030 |
| Purchasing Managers | 4,070 | $171,770 | $140,650 |
| Sales Managers | 28,870 | $231,380 | $150,530 |
| Securities, Commodities, and Financial Services Sales Agents | 58,140 | $176,380 | $100,740 |
| Training and Development Managers | 2,810 | $185,100 | $132,100 |
Questions About Business Schools in New York
Is Cornell an Ivy?
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.
Is NYU an Ivy?
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.
How much does an MBA cost in New York?
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.
What is the hardest MBA program to get into in New York?
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.
