I'm looking at a few MBA programs in the US - both first and second tier:

NYU Stern
Purdue - Krannert
Carnegie Mellon - Tepper
Washington - Foster

I'm basically wondering about how much added value an MBA program from a top-tier school is worth. If I'm looking only at the cost of the programs, I see that the higher-ranked schools (NYU - Stern and Carnegie Mellon) are more than twice the cost of the other two programs. This is a substantial difference, and I'm curious about what you get for that added investment. Is it better alumni networks, job placements, or something else?

Yes, all of those things. Compare the average starting salaries, and then think of the difference in value over your working life: the differences in salaries will widen over time.

Thanks Duncan. I understand about the starting salaries - although from what I've been reading the average salaires of alumni coming out of NYU Stern are driven up by that school's strong focus on placements in the financial industry. So since I'm not thinking about going into finance, would your advice still hold true?

Yes, it does. Read the placement reports reports. It's not only the finance grads of Stern that are paid more. There are huge differences between schools, across every market.

Thanks Duncan - I'll look at the placement reports.