Best MBA Programs in Illinois

University of Chicago – Booth School of Business

Overview

The University of Chicago Booth School of Business is one of the most prestigious MBA programs in the world. Located in downtown Chicago, Booth is known for its academic rigor, flexible curriculum, and strong focus on economics, analytics, and leadership. The school offers a highly customizable MBA program, allowing students to design their own path and choose from a wide array of electives. With its proximity to Chicago’s major financial institutions and corporate headquarters, Booth provides unmatched networking opportunities and career resources for students interested in finance, consulting, and entrepreneurship.

Program Details

  • Business Week Ranking: #3
  • Number of Students: ~620 (Class size)
  • Acceptance Rate: 23%
  • Average GMAT Score: 730
  • Top Hiring Companies: McKinsey & Co., Bain & Co., BCG, Goldman Sachs, JPMorgan Chase, Amazon
  • Average Starting Salary: $155,000

Notable Alumni

  • Satya Nadella: CEO of Microsoft
  • Jon Winkelried: Co-CEO of TPG Capital
  • Peter G. Peterson: Co-founder of The Blackstone Group
  • David Booth: Founder of Dimensional Fund Advisors

Northwestern University – Kellogg School of Management

Overview

Northwestern University’s Kellogg School of Management is known for its strong focus on teamwork, leadership development, and a collaborative learning environment. Located in Evanston, just outside of Chicago, Kellogg is consistently ranked among the top MBA programs globally. The school offers a variety of MBA tracks, including full-time, part-time, and executive programs. Kellogg emphasizes experiential learning through its Global Initiatives in Management (GIM) program, where students work on consulting projects for organizations around the world. With a strong alumni network and deep connections to top consulting, finance, and tech firms, Kellogg is a prime choice for students pursuing careers in these fields.

Program Details

  • Business Week Ranking: #4
  • Number of Students: ~478 (Class size)
  • Acceptance Rate: 27%
  • Average GMAT Score: 727
  • Top Hiring Companies: McKinsey & Co., Google, Amazon, Goldman Sachs, BCG, Bain & Co.
  • Average Starting Salary: $150,000

Notable Alumni

  • Andrew Youn: Founder of One Acre Fund
  • Doug Conant: Former CEO of Campbell Soup Company
  • Arthur Martinez: Former Chairman and CEO of Sears, Roebuck & Co.
  • Susan Wagner: Co-founder of BlackRock

University of Illinois Urbana-Champaign – Gies College of Business

Overview

The Gies College of Business at the University of Illinois Urbana-Champaign is a well-respected MBA program known for its strong foundation in data analytics, entrepreneurship, and finance. The program offers both online and on-campus MBA options, making it accessible to a wide range of students. Gies emphasizes experiential learning through its iVenture Accelerator and Illinois Business Consulting, the nation’s largest student-run consulting firm. The program has a particular focus on innovation, entrepreneurship, and preparing students for leadership roles in an increasingly data-driven business world.

Program Details

  • Business Week Ranking: #46
  • Number of Students: ~100 (Class size)
  • Acceptance Rate: 38%
  • Average GMAT Score: 670
  • Top Hiring Companies: Deloitte, PwC, EY, Caterpillar, Accenture, Amazon
  • Average Starting Salary: $110,000

Notable Alumni

  • James D. Wolfensohn: Former President of the World Bank
  • Thomas M. Siebel: Founder of Siebel Systems
  • Marc Andreessen: Co-founder of Netscape and Andreessen Horowitz
  • Roger Ebert: Film Critic and Screenwriter

DePaul University – Kellstadt Graduate School of Business

Overview

DePaul University’s Kellstadt Graduate School of Business offers a highly flexible MBA program tailored for working professionals. Located in downtown Chicago, the program provides students with extensive networking opportunities in the city’s thriving business sectors, including finance, consulting, and real estate. Kellstadt offers a wide range of MBA concentrations, including finance, marketing, international business, and entrepreneurship. The program’s focus on real-world experience is reinforced through internships, consulting projects, and its strong partnerships with local businesses and multinational corporations.

Program Details

  • Business Week Ranking: #82
  • Number of Students: ~220 (Class size)
  • Acceptance Rate: 50%
  • Average GMAT Score: 620
  • Top Hiring Companies: BMO Harris Bank, Northern Trust, Deloitte, PwC, KPMG, JPMorgan Chase
  • Average Starting Salary: $95,000

Notable Alumni

  • Richard Driehaus: Founder of Driehaus Capital Management
  • Michael Bay: Film Director and Producer
  • Richard A. Brown: CEO of Motorola Solutions
  • Sean Donohue: CEO of Dallas/Fort Worth International Airport

Loyola University Chicago – Quinlan School of Business

Overview

Loyola University Chicago’s Quinlan School of Business offers an MBA program that emphasizes ethical leadership, sustainability, and global business. Situated in the heart of Chicago, Quinlan’s MBA program integrates Jesuit values with a rigorous business education, preparing students to be leaders who are not only successful but also socially responsible. The program offers a strong emphasis on international business, with opportunities for global immersion experiences and consulting projects. Quinlan is known for its tight-knit community, small class sizes, and personalized attention from faculty.

Program Details

  • Business Week Ranking: #93
  • Number of Students: ~100 (Class size)
  • Acceptance Rate: 60%
  • Average GMAT Score: 600
  • Top Hiring Companies: United Airlines, Allstate, EY, Aon, Northern Trust, PepsiCo
  • Average Starting Salary: $92,000

Notable Alumni

  • Bob Mariano: Founder of Mariano’s Grocery Stores
  • Cecilia Conrad: Managing Director, MacArthur Foundation
  • Patrick J. Kelly: CFO of United Parcel Service (UPS)
  • Therese Plunkett: Vice President at General Mills

Illinois Institute of Technology – Stuart School of Business

Overview

The Illinois Institute of Technology’s Stuart School of Business is located in Chicago’s South Loop, offering a specialized MBA program with a focus on analytics, finance, and sustainability. Stuart’s MBA curriculum is known for its integration of technology and data-driven decision-making. The school offers a distinctive experiential learning model, with students working on real-world business challenges through the Interprofessional Projects (IPRO) program. The Stuart School of Business is ideal for students looking to combine business acumen with technological expertise in industries like finance, energy, and analytics.

Program Details

  • Business Week Ranking: Not Ranked
  • Number of Students: ~75 (Class size)
  • Acceptance Rate: 65%
  • Average GMAT Score: 610
  • Top Hiring Companies: CME Group, Accenture, Allstate, Discover Financial Services, Northern Trust
  • Average Starting Salary: $85,000

Notable Alumni

  • Jerry A. Grundhofer: Former CEO of U.S. Bancorp
  • John W. Rowe: Former CEO of Exelon Corporation
  • Darryl S. Clark: CEO of Oil-Dri Corporation
  • Robert P. Pritzker: Industrialist and Philanthropist

Northern Illinois University – College of Business

Overview

Northern Illinois University’s College of Business offers a solid MBA program that is particularly appealing to professionals in the Chicago suburbs and beyond. NIU’s program focuses on practical business skills, leadership development, and applied learning. The curriculum allows students to specialize in areas such as marketing, finance, and operations management. The program is designed to accommodate working professionals through its part-time and evening MBA options. NIU’s close proximity to Chicago enables students to take advantage of internship and job opportunities in one of the country’s largest business hubs.

Program Details

  • Business Week Ranking: Not Ranked
  • Number of Students: ~85 (Class size)
  • Acceptance Rate: 55%
  • Average GMAT Score: 590 (GMAT waiver available for experienced professionals)
  • Top Hiring Companies: Caterpillar, Navistar, Deloitte, Northern Trust, Discover Financial Services
  • Average Starting Salary: $85,000

Notable Alumni

  • Mike Cote: CEO of SecureWorks
  • Nancy Zimpher: Chancellor Emeritus, State University of New York
  • Jim Phillips: Commissioner of the Atlantic Coast Conference (ACC)
  • Timothy F. Geithner: Former U.S. Secretary of the Treasury (Adjunct role at NIU)

Southern Illinois University Carbondale – College of Business

Overview

Southern Illinois University Carbondale (SIU) offers a flexible MBA program that is highly accessible and affordable, making it a popular choice for students seeking a quality business education without the high cost. SIU’s MBA program focuses on leadership, management, and entrepreneurship, with a curriculum that is designed to prepare students for a variety of business roles in both the public and private sectors. The program offers both on-campus and online options, making it suitable for working professionals. With strong connections to regional businesses, SIU graduates find opportunities in industries such as healthcare, manufacturing, and finance.

Program Details

  • Business Week Ranking: Not Ranked
  • Number of Students: ~60 (Class size)
  • Acceptance Rate: 65%
  • Average GMAT Score: 580
  • Top Hiring Companies: Peabody Energy, Boeing, Deloitte, State Farm, Caterpillar
  • Average Starting Salary: $80,000

Notable Alumni

  • Freeman A. Hrabowski III: President of the University of Maryland, Baltimore County
  • Bill Norwood: Retired United Airlines Pilot and University Trustee
  • William Enyart: Former U.S. Congressman
  • Rodney Watson: Former Illinois House Representative