The top 20 business schools where graduates earn the most money, ranked from lowest to highest salary

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  • The business school where graduates earn the highest salary is The University of Pennsylvania, according to data from online lender SoFi.
  • SoFi looked at reported salary on over 60,000 student-loan refinancing applications to rank the top business schools by the average salary of its graduates.
  • The average salary on the list of the top 20 business schools was $109,992.

Business school is a serious investment of time and money.

It makes sense to choose a business school based on what will help lead you to the highest salary once you graduate with an MBA.

With that in mind, online lender SoFi looked at the average salary graduates of American business schools earn and ranked the top 20.

SoFi's approach is unique. It reviewed the self-reported income on over 60,000 student-loan refinancing forms from January 2014 to December 2017.

The average salary for graduates of all business schools SoFi reviewed was $109,992. The University of Pennsylvania took the top spot, beating out Harvard, Columbia, and Stanford business schools. Wharton graduates earn an average salary of $224,034, according to SoFi's data.

Below are the top 20 business schools where graduates earn the most money, ranked from lowest to highest salary.

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20. University of Texas at Austin — $139,776

20. University of Texas at Austin — $139,776

19. University of Southern California — $141,082

19. University of Southern California — $141,082

18. Georgetown University — $142,667

18. Georgetown University — $142,667

17. University of Pittsburgh — $149,157

17. University of Pittsburgh — $149,157

16. University of Michigan, Ann Arbor — $153,147

16. University of Michigan, Ann Arbor — $153,147

15. University of California, Los Angeles — $153,763

15. University of California, Los Angeles — $153,763

14. Duke University — $154,601

14. Duke University — $154,601

13. University of Virginia — $154,902

13. University of Virginia — $154,902

12. Yale University — $158,170

12. Yale University — $158,170

11. New York University — $165,030

11. New York University — $165,030

10. Massachusetts Institute of Technology — $165,666

10. Massachusetts Institute of Technology — $165,666

9. University of Chicago — $166,215

9. University of Chicago — $166,215

8. Cornell University — $167,544

8. Cornell University — $167,544

7. Northwestern University — $167,770

7. Northwestern University — $167,770

6. Dartmouth College — $169,498

6. Dartmouth College — $169,498

5. University of California, Berkeley — $171,270

5. University of California, Berkeley — $171,270

4. Harvard University — $184,463

4. Harvard University — $184,463

3. Stanford University — $186,534

3. Stanford University — $186,534

2. Columbia University — $189,295

2. Columbia University — $189,295

1. University of Pennsylvania — $224,034

1. University of Pennsylvania — $224,034
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