Harvard Business School students celebrate their graduation.
U.S. News & World Report is out with the latest version of its best business school rankings, and not too much has changed.
The University of Pennsylvania's Wharton School jumped up two spots from last year to tie with Harvard Business School and Stanford Graduate School of Business for first place. Meanwhile, the University of Chicago's Booth School of Business moved up to No. 4, and MIT's Sloan School of Management slid down a spot to No. 5.
Across the board, the elite business schools carry hefty price tags. The lowest tuition among the schools ranked in the top 10 is UC Berkeley Haas School of Business 's in-state cost of $51,412 (out-of-state tuition tacks on another $2,547).
But the benefits may still outweigh the costs. According to data from the Bureau of Labor Statistics, occupations requiring a master's degree are projected to grow by 21.7% between 2010 and 2020. That exceeds the growth projected for any other type of educational credential, such as bachelor's or associate's degrees.
Here are the top 10 business schools, according to U.S. News & World Report :
1. Harvard Business School (tie)
2013-2014 tuition: $56,175
2013 acceptance rate: 11.3%
1. Stanford Graduate School of Business (tie)
2013-2014 tuition: $59,550
2013 acceptance rate: 6.8%
1. University of Pennsylvania Wharton School (tie)
2013-2014 tuition: $59,736
2013 acceptance rate: 18.7%
4. University of Chicago Booth School of Business
2013-2014 tuition: $58,760
2013 acceptance rate: 21%
5. MIT Sloan School of Management
2013-2014 tuition: $61,152
2014 acceptance rate: 13.1%
6. Northwestern Kellogg School of Management
2013-2014 tuition: $59,085
2013 acceptance rate: 21.6%
7. UC Berkeley Haas School of Business
2013-2014 tuition: $51,412 (in-state), $53,959 (out-of-state)
2013 acceptance rate: 14.3%
8. Columbia Business School
2013-2014 tuition: $60,720
2013 acceptance rate: 18.1%
9. Dartmouth Tuck School of Business
2013-2014 tuition: $58,935
2013 acceptance rate: 20.8%
10. NYU Stern School of Business
2013-2014 tuition: $57,468
2013 acceptance rate: 16%
To come up with its ranking, U.S. News & World Report scored more than 100 master's in business programs on quality, a rank determined by both peers and recruiters; placement success, measured by employment rates for graduates and the starting salaries and bonuses they land; and student selectivity, based on the mean GMAT/GRE scores and GPAs of students, and overall acceptance rate. Click here to read a full explanation of the methodology.
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