The Best MBA Programs in Chicago for 2027
Key Points: Best MBA Programs in Chicago
- DePaul University ranks #1 in the Chicago area on an 86.0 Program Score, with a 68% graduation rate.
- Loyola University Chicago graduates the most students on this list (73%), from #2.
- The hardest to get into is Chicago State University (#7), which admits 43% of applicants.
- Private schools hold most of the places on this list.
- Programs analyzed
- 24
- Schools ranked
- 8
- Average graduation rate
- 57%
We analyzed 24 accredited MBA programs in Chicago and the surrounding metro and ranked 8 schools on graduation rate, selectivity, cost, and outcomes. Admission rates across the 8 ranked schools run from 43% to 95%, a 52-point spread for the same credential.
DePaul University leads with a Program Score of 86 on a 68% graduation rate. Across all 8 ranked MBA programs in Chicago the average graduation rate is 57%, ranging from 15% to 73%. 1 of the 8 is public and 7 are private, a split worth weighing before comparing the schools. 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.
How the Top MBA Programs in Chicago Compare
DePaul leads at 86.0, and Benedictine closes the chart at 68.8. Longer bars rank higher.
How We Rank MBA Programs in Chicago
Each Program Score runs from 0 to 100: outcomes count for 44%, selectivity and academics for 38%, and scale and value for 18%, all from federal data. See how the weights work.
The 8 Best MBA Programs in Chicago, Ranked for 2027
The 8 best MBA Programs in Chicago, ranked by outcomes.
DePaul University
Chicago, IL · Nonprofit
- Grad rate
- 68%
- Admit rate
- 76%
- Tuition
- Varies by program
DePaul University's MBA is AACSB accredited, according to the school, and offers 16 concentrations that students can combine, here in a joint JD/MBA format.
- Program Score 86
- 68% graduation rate
- 16 MBA concentrations
- Joint JD/MBA, in person
The program page describes DePaul University's joint JD/MBA, which pairs the College of Law with the Kellstadt Graduate School of Business so students earn a professional degree and a graduate degree at the same time in less time than separate programs. The school says the MBA responds to the growing interaction of management and the law, reports accreditation by AACSB, and offers 16 concentrations, with the option to pursue more than one. The MBA portion consists of nine to eleven core courses (32 to 40 quarter hours) plus five concentration and elective courses (20 quarter hours), for 52 to 60 quarter hours. The law portion requires 76 semester hours. The page lists the program as in person, and directs students to the Kellstadt catalog for full MBA requirements.
DePaul's federal figures show a 68% graduation rate and a 76% admit rate. The MBA has a Program Score of 86 out of 100, the basis of its ranking. The joint format fits students aiming at careers where legal and business training overlap, such as compliance, contracts or corporate management, and who are prepared for a long course load across two schools. Students who want a stand-alone MBA should confirm the separate Kellstadt requirements, since this page covers the dual-degree route.
Loyola University Chicago
Chicago, IL · Nonprofit · online option
- Grad rate
- 73%
- Admit rate
- 82%
- Tuition
- Varies by program
The Baumhart Scholars MBA is a cohort-based, 48-hour program built around social impact, ESG and impact investing.
- 73% graduation rate
- Program Score 84.5
- 48-hour cohort-based MBA
- Social impact and ESG focus
Loyola University Chicago's Quinlan School of Business offers the Baumhart Scholars MBA, a selective, cohort-based degree for working professionals who want to pair a business career with social impact. The curriculum totals 48 credit hours across 16 courses. Foundational courses cover accounting, finance, marketing, operations, project management, ethics and data-driven decision making. Specialty courses add values-based leadership, innovative corporate social responsibility, social enterprise and impact investing. Students choose three electives, which can be taken across Loyola schools or applied toward a Graduate Certificate such as Environmental, Social, and Governance. Courses meet weekday evenings and occasional weekends, and scholars attend an opening immersion weekend, leadership development sessions and monthly mentorship. The school notes that the Financial Times has recognized Quinlan for sustainability, ethics and social purpose in business education.
Federal figures show a 73% graduation rate at Loyola and an admit rate of 82%. The program earns a Program Score of 84.5 out of 100, the basis of its ranking. It suits professionals in the private, government or social sectors who want a structured cohort, mentorship from leaders and a curriculum where sustainability and purpose sit inside the core business training rather than off to the side.
University of St Francis
Joliet, IL · Nonprofit · online option
- Grad rate
- 67%
- Admit rate
- 65%
- Tuition
- Varies by program
The University of St. Francis MBA was recently cut to 30 credit hours, offers eight concentrations and starts six times a year in eight-week classes.
- Program Score 77.8
- 67% graduation rate
- 30 credit hours
- Eight concentrations, six starts a year
The University of St. Francis Master of Business Administration was recently revised from 36 to 30 credit hours, and the school says most students finish in 12 to 24 months. It is offered online or blended from Joliet, with classes in eight-week cycles that allow six start dates a year. No GMAT is required, and transfer credit is accepted. Students choose from concentrations in Cybersecurity, Data Analytics, Finance, Health Administration, Human Resource Management, Learning and Development Management, Management and Supply Chain Management. Coursework centers on applying ideas to the student's own workplace through case studies, directed discussions and team projects. The school reports that the program is accredited by ACBSP.
Federal data show a 67% graduation rate and a 65% admit rate at St. Francis. The program's Program Score is 77.8 out of 100, which is the basis of its ranking. The format fits working professionals who want a specialty such as data analytics or supply chain, and who value frequent start dates and a shorter credit load. The wide concentration list may matter more to career changers than to someone seeking a single general track.
Olivet Nazarene University
Bourbonnais, IL · Nonprofit · online option
- Grad rate
- 61%
- Admit rate
- 56%
- Tuition
- Varies by program
A 100% online, 36-credit MBA that students can finish in 12, 18 or 24 months, with six specialization options.
- 61% graduation rate
- Program Score 75.4
- 12, 18 or 24 month pacing
- Six specialization tracks
Olivet Nazarene University's Master of Business Administration is offered 100% online through the McGraw School of Business. The program is 36 credit hours and can be completed in 12, 18 or 24 months, and online classes start every eight weeks. The core builds business skills and data-driven decision making, with topics such as digital communication, ethics, crisis management, financial analysis, capital structure, branding and leadership grounded in emotional and cultural intelligence. Students can specialize in Leadership, Healthcare Leadership, Sport Management, Corporate Communications, Criminal Justice or Nonprofit Management. The page also describes a Master of Organizational Leadership as a related option. Admission requires a bachelor's degree, official transcripts and a minimum undergraduate GPA of 2.5, and the degree does not have to be in business.
Federal figures show a 61% graduation rate at Olivet and an admit rate of 56%. The program earns a Program Score of 75.4 out of 100, the basis of its ranking. It suits working professionals who want to set their own pace, from a one-year sprint to a two-year schedule, and who want an industry-flavored specialization such as healthcare or sport management. Students coming from non-business majors are welcome, so the program works for career changers as well as managers advancing in place.
Judson University
Elgin, IL · Nonprofit · online option
- Grad rate
- 60%
- Admit rate
- 48%
- Tuition
- Varies by program
Judson University's MBA is 36 credit hours that working adults can finish in as few as 18 months, online or in a hybrid format at the Elgin campus.
- Program Score 75
- 60% graduation rate
- 18-month fast track
- Online or Elgin hybrid
Judson University's Master of Business Administration is a 36-credit-hour program built for working adults. Classes meet one night a week or fully online, and the school says students spend about 15 hours a week on coursework and can finish in as few as 18 months. The core covers managerial accounting, financial management, managerial economics, business analytics, operations and project management, marketing, international business and an MBA capstone, plus organizational leadership courses on ethical leadership, high-performance teams and organizational culture. Students can take the traditional MBA or add a concentration in Project Management or Leadership. Judson lists a 15:1 student-to-faculty ratio and start dates throughout the year in both Elgin and online.
Federally reported figures show a 60% graduation rate and a 48% admit rate at Judson, so admission is selective but not extreme. The program earned a Program Score of 75 out of 100, which is the basis of its ranking. It suits professionals who want a general management credential on a flexible schedule, whether they prefer a hybrid format near Elgin or a 100% online path. Those who want a deep specialty in one function may find the broad core less targeted.
North Park University
Chicago, IL · Nonprofit
- Grad rate
- 58%
- Admit rate
- 69%
- Tuition
- Varies by program
A 100% online MBA with asynchronous courses, no entrance exams and no business background required, with concentrations in HR, leadership and nonprofit management.
- 69% admit rate
- Program Score 74
- 100% online, asynchronous
- HR, leadership and nonprofit concentrations
North Park University's online Master of Business Administration is delivered 100% online with asynchronous courses, so students can keep working full time. The page lists the program as 33 credit hours that can be finished in as few as 12 months. Applicants need a bachelor's degree in any field, and the school says there are no entrance exams, no application fee and no business background required. Students customize the degree by choosing three electives or by taking three courses in a concentration: Human Resources, Leadership, Nonprofit Management, or Diversity, Equity and Inclusion. The school reports IACBE accreditation and describes a values-driven curriculum that emphasizes ethical decision making, along with applied learning experiences.
Federal data shows a 58% graduation rate at North Park and an admit rate of 69%, so most applicants are accepted. The program earns a Program Score of 74 out of 100, the basis of its ranking. It fits working adults who are changing fields or moving into management and want a flexible schedule without a quantitative gatekeeping step. Those who want a faith-informed, values-centered approach to business, or a path toward nonprofit or HR leadership, will find the concentrations a direct match.
Chicago State University
Chicago, IL · Public
- Grad rate
- 15%
- Admit rate
- 43%
- Tuition
- Varies by program
Chicago State University's MBA admits for fall and spring terms and requires three letters of recommendation and an interview with the MBA Admissions Committee.
- Program Score 70.4
- 43% admit rate
- 2.75 GPA minimum
- Fall and spring start with committee interview
Chicago State University's Master of Business Administration is a graduate program, and the page we reviewed describes how admission works. Applicants need a bachelor's degree from an accredited institution and a GPA of at least 2.75 on a 4.0 scale, either overall or across the last 60 semester hours of coursework. Those who meet the GPA but lack some prerequisites may qualify for conditional admission. The MBA application asks for a resume, a personal essay, three letters of recommendation from instructors or supervisors, and an interview with the MBA Admissions Committee. The application fee is $30. Deadlines are August 15 for fall and January 15 for spring, and summer is not offered. International applicants submit English proficiency scores and a credential evaluation. The page does not detail the course list or format.
Federal data put Chicago State's graduation rate at 15% and its admit rate at 43%, so the school admits a sizable share of applicants but completion is low across the institution. The program holds a Program Score of 70.4 out of 100, the basis of its ranking. The MBA suits working professionals in Chicago who meet the 2.75 GPA standard, can line up recommenders and are comfortable with a committee interview. Prospective students should ask the program adviser about the curriculum, scheduling and support before applying.
Benedictine University
Lisle, IL · Nonprofit
- Grad rate
- 50%
- Admit rate
- 95%
- Tuition
- Varies by program
Benedictine University offers its MBA on campus, hybrid or online, with a one-year accelerated option for qualified students.
- 50% graduation rate
- Program Score 68.8
- Online, hybrid or on campus
- Four concentrations
Benedictine University's Master of Business Administration is run through the Goodwin College of Business and Liberal Arts. The page lists on-campus and hybrid delivery in Lisle, an online MBA, an online accelerated MBA, a 4+1 option for recent bachelor's graduates, an international MBA and a dual MBA/MPH. Concentrations include project management, digital marketing, change management and talent management. Core study covers accounting, marketing, economics and operations, and sample courses include analytical tools for management decisions, web analytics, business negotiations and business and economic forecasting. The program is designed for working adults who can study full or part time, and qualified students may finish in one year. The university says the program has a 45-year track record.
Benedictine graduates 50% of its students and admits 95% of applicants, so admission is broadly accessible. The program has a Program Score of 68.8 out of 100, which is the basis of its ranking. It fits working professionals who need flexibility in format and pace, as well as recent graduates who want a fast route into graduate business study. Prospective students should compare the online asynchronous and in-person options and ask a counselor whether they qualify for the accelerated year.
Graduation Rates at the Ranked MBA Programs in Chicago
The median school on this list graduates 61% of its students. The highest rates belong to Loyola University Chicago (73%) and DePaul University (68%). The top graduation rate is not at the #1 school, because the score also weighs selectivity, cost, and earnings.
- #2 Loyola University Chicago73% graduation rate
- #1 DePaul University68% graduation rate
- #3 University of St Francis67% graduation rate
Institution-wide graduation rates reported to IPEDS. They describe the whole school, not this program alone.
How Selective Are the MBA Programs in Chicago?
On this list, 2 schools admit fewer than half of applicants, the most selective being Chicago State University at 43%.
- #7 Chicago State University43% admitted
- #5 Judson University48% admitted
- #4 Olivet Nazarene University56% admitted
Institution-wide admit rates for first-time applicants, reported to IPEDS. Open-admission schools do not report one.
Public and Private MBA Programs in Chicago
This list holds 1 public and 7 private nonprofit schools.
Control (public, private nonprofit, for-profit) as reported to IPEDS. Public schools usually charge residents less; private schools charge everyone the same rate.
Online Options Among the MBA Programs in Chicago
Of the 8 schools ranked here, 4 offer distance education. The highest ranked is Loyola University Chicago, at #2.
- #2 Loyola University ChicagoChicago, IL
- #3 University of St FrancisJoliet, IL
- #4 Olivet Nazarene UniversityBourbonnais, IL
- #5 Judson UniversityElgin, IL
Based on each school reporting distance-education offerings to IPEDS. Whether this specific degree is fully online varies, so confirm the format with the school.
Campus Size Across the MBA Programs in Chicago
Enrollment on this list runs from 960 at Judson University to 21,210 at DePaul University. Of the 8, 1 enrolls 20,000 students or more and 6 enroll fewer than 5,000.
Total institution enrollment reported to IPEDS, all levels and programs.
What Graduates of the MBA Programs in Chicago Earn
| Rank | School | Median earnings, 4 years outEarnings, 4 yrs |
|---|---|---|
| #1 | DePaul UniversityDePaul | $144,859 |
| #2 | Loyola University ChicagoLoyola University Chicago | $129,044 |
| #3 | University of St FrancisSt Francis | $87,471 |
| #4 | Olivet Nazarene UniversityOlivet Nazarene | $76,648 |
| #5 | Judson UniversityJudson | $93,396 |
| #6 | North Park UniversityNorth Park | $82,257 |
| #8 | Benedictine UniversityBenedictine | $102,850 |
Four years out, medians on this list run from $76,648 at Olivet Nazarene to $144,859 at DePaul.
DePaul leads on both counts: the top rank among these schools and the highest graduate pay.
College Scorecard, October 2026 release. Earnings cover each school's programs in this field at this degree level.
What MBA Programs in Chicago Cost
Price is the first thing to check across the 8 ranked schools, and the figure that matters is the current MBA rate on each school's own page. Chicago State University is the one public option among the MBA programs in Chicago; the other 7 ranked schools are private. Public figures here are the in-state resident rate, so an applicant moving to Chicago from another state should confirm the out-of-state rate before treating the public option as cheap.
How Selective MBA Programs in Chicago Are
Admission odds across the MBA programs in Chicago are nowhere near uniform. Chicago State University admits 43% 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 52-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 Chicago State University, so applying across the range rather than within one band is the sensible strategy here. Completion does not follow the same order: Chicago State University finishes 15% of its students on a 43% admit rate, the lowest on this list, while Loyola University Chicago finishes 73%, the highest, on an 82% admit rate, which is why selectivity is one input to the Program Score rather than the score itself.
Accreditation Across Chicago Business Schools
The MBA programs in Chicago lean private: 7 of the 8 ranked schools are private against 1 public, which is most of why prices on this list differ as much as they do. 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 high price is not thereby carrying it. Confirm it on the school's own page: the cheapest name on this list and the priciest are held to the same standard.
Why Study for an MBA in Chicago
The 8 ranked schools are spread across 5 towns, which makes "Chicago" a looser description than the heading suggests. DePaul University in Chicago tops the list, with Loyola University Chicago and University of St Francis 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.
4 of the 8 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 studied at Chicago State University or at DePaul University. 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 price differences between schools on this page are the reason to look hard at the low-cost end before the better-known names. Chicago State University and DePaul University 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.
Keep Exploring
MBA Programs in Chicago: Frequently Asked Questions
What is the best MBA program in Chicago?
By Program Score, DePaul University ranks first among the 8 ranked MBA programs in Chicago, with a score of 86 and a 68% 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 8 ranked here are not uniform about it. Chicago State University is the tightest on this list at 43% 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 8 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?
4 of the 8 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. The honest comparison is local access against the cost of being here.