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University of Chicago MBA Fees: What You Need to Know

Program Cost, Financial Aids & ROI

University of Chicago is one of the top-ranked business schools in the world, known for its rigorous academic curriculum and exceptional faculty. In this blog, we will take a closer look at the University of Chicago MBA fees program, including tuition, living expenses, and other costs to consider.

University of Chicago MBA Fees 2024-2025

Tuition fees for the 2024 MBA intake at Chicago Booth are $80,961*

Pursuing an MBA from Chicago Booth can be a life-changing experience for many students, but it can also be a costly one. In this section, we will take a closer look at the University of Chicago MBA fees.

The tuition fees for the Chicago Booth MBA program are subject to change every year, and the fees vary depending on whether you are an international or domestic student. For the class of 2024, the tuition fee for the Full-Time MBA program is $80,961 per year for both domestic and international students.

It's important to note that the cost of attending University of Chicago MBA program doesn't include some additional expenses such as health insurance, travel, and other miscellaneous expenses, so students should be prepared to spend more than just the cost of tuition.

Living Expense in Chicago While Pursuing the Chicago Booth MBA Program

Living expenses in Chicago while pursuing the Booth MBA program encompass housing, utilities, groceries, transportation, and course materials like textbooks. Budgeting for these essentials is crucial for students to manage their finances effectively during their academic journey.

Cost MBA Class of 2025 JD/MBA Accelerated  MPCS/MBA
Tuition $80,961  $117,534  $89,046
Student Services Fee $1,398  $1,398  $1,398
Administrative Service Fee (first year only) $2,600 $2,600  $2,600 
Lifetime Transcript Fee (one-time fee charged in fall of the first year) $75 $75 $75
Books and Course Materials (includes $25 fee per class) $549  $1,785 $549
Housing & Food  $26,010
($2,890 per month)
$19,758  $26,010
($2,890 per month)
Transportation $1,800    $1,600 
Total $122,160  $153,755  $130,245

Financial Aid & Scholarships for University of Chicago

 

The University of Chicago MBA fees should not deter promising students, as the institution offers a wealth of merit-based MBA scholarships. They form part of the evaluation process for all applicants, with no separate application required. Selection is grounded on academic superiority, preferred concentration potentials, robust interview impressions, competitiveness, professional aspirations, and life seasoning. Interest in the University of Chicago MBA fees mustn't overshadow these key scholarship considerations. These awards are disclosed during the admission announcement, rewarding the deserving applicants for their efforts.

The following is a list of available financial aids offered to the applicable students:

  • A. H. Tobaccowala Fellowship
  • Canfield Private Equity Fellowship
  • Chicago Booth Opportunity Scholarship
  • David W. Fox Scholarship
  • Dennis W. and Jane B. Carlton Fellowship
  • Distinguished Fellowship
  • Ehara Scholarship
  • Forté Foundation Fellowship
  • Global Innovator Fellowships
  • He Family Scholarship
  • Herman Family Fellowship for Women Entrepreneurs
  • Kilts Fellowship
  • Marvin Zonis International Scholarship
  • Ramakrishnan Family Scholarship
  • Siebel Scholars Program*
  • The Nelson Germanos Fellowship
  • The University of Chicago Obama Foundation Scholars Program*
  • Zmijewski Scholarship
  • Awards for Second-Year Students: Yellow Ribbon Program

 

Part-Time Jobs and Potential Earnings for Students Pursuing MBA

Here are some potential part-time job opportunities and estimated earnings for University of Chicago MBA students, this will help in University of Chicago MBA fees:

1. Campus jobs

The University of Chicago offers various on-campus job opportunities to its students, such as research assistant, teaching assistant, campus ambassador, and more. The hourly pay for these jobs can range from $12 to $30 per hour, depending on the job role and experience.

2. Hospitality industry

Chicago is known for its hospitality industry, and students can find part-time jobs in restaurants, hotels, and bars. The hourly wage can range from $10 to $25 per hour, including tips.

3. Retail sector

Students can also work part-time in the retail sector, such as department stores, boutiques, and supermarkets, thereby aiding the additional expenses apart from the University of Chicago MBA fees. The hourly wage can range from $10 to $20 per hour.

4. Tutoring

University of Chicago MBA fees can also be reduced if students can offer their services as tutors to undergraduate students or high school students in the area. The hourly pay for tutoring can range from $20 to $60 per hour, depending on the subject and level of expertise.

5. Freelancing

With the rise of the gig economy, students can also explore freelance work opportunities, such as graphic design, content writing, or social media management. The pay for such freelance work can vary widely, depending on the project and the client.

Student Visa Work Hour Restrictions

chicago booth mba salary

Indeed, here are the stipulations governing Indian university students in regard to pursuing MBA Colleges in USA from their alma mater:

  • International students with an F-1 student visa are allowed to work on-campus for up to 20 hours per week during the academic year and up to 40 hours per week during school breaks.
  • The work must be related to the student's field of study and can be in the form of research assistantships, teaching assistantships, or other types of employment provided by the university.
  • International students can also participate in off-campus internships or work opportunities related to their field of study, but they must first obtain authorization from the university's International Center and the U.S. Citizenship and Immigration Services (USCIS).
  • Off-campus work authorization is typically granted for a maximum of 12 months, and students must maintain their F-1 visa status by remaining enrolled full-time and making satisfactory academic progress.

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Conclusion

Pursuing a University of Chicago MBA program can be a significant financial investment, but it can also be a game-changer for your career. With careful planning, research, and exploration of financial aid and part-time job opportunities, Indian students can make this dream a reality. So, don't let the University of Chicago MBA fees scare you away - if you're willing to put in the work, the ROI can be well worth it in the end.

Is a Chicago Booth MBA Program a Good Choice?

Absolutely! The Chicago Booth School of Business is renowned worldwide for its exceptional MBA program. With its distinguished faculty, strong alumni network, and rigorous curriculum, a Booth MBA can provide unparalleled opportunities for personal and professional growth.

Does UChicago MBA Require GMAT?

 

Yes, to apply for the Full-Time MBA Program at UChicago, you need an accredited US college degree or its equivalent. You must also submit scores from either the GMAT or GRE exams. These scores help evaluate your readiness for the rigorous academic curriculum and ensure a competitive applicant pool.

How Hard Is It to Get Into Chicago Booth MBA?

 

Getting into Chicago Booth MBA is challenging, but it's not impossible. With a medium class size of 637 students and an acceptance rate of 30%, Chicago Booth is one of the more accessible M7 programs. Successful applicants demonstrate strong academic credentials, professional experience, leadership potential, and a clear career vision.

Know Your Author
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Abhyank Srinet
Study Abroad Expert
Abhyank Srinet, the founder of MiM-Essay.com, is a globally recognized expert in study abroad and admission consulting.His passion lies in helping students navigate the complex world of admissions and achieve their academic dreams. Having earned a Master's degree in Management from ESCP Europe, Abhyank's expertise in data-driven marketing strategies has driven growth for some of the most competitive industries. As the founder of MiM-Essay.com, he has helped thousands of students get into top business schools with a strong emphasis on research, shortlisting, and applying to schools from a single platform. His dedication to education has also led him to create MentR-Me, a free-to-use social platform that simplifies the study abroad process for students, while providing universities with a powerful recruitment tool. As a leader in the field of admission consulting, he is constantly researching and implementing the latest strategies to ensure that his clients receive the best possible guidance. He leads the Business Development and Digital Marketing side of both companies, and has grown both ventures to 7 figure revenue.His unique insights, experience, and dedication to his clients make him a valuable resource for anyone seeking to advance their education or career.
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