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What Is the Wharton School?
Let me tell you directly: The Wharton School of the University of Pennsylvania, often just called Wharton, is one of the most prestigious business schools globally.
Its Master of Business Administration (MBA) program took the top spot ahead of the University of Chicago Booth School of Business in a 2023 global survey by U.S. News & World Report for the best business finance schools.
You should know that Wharton is best recognized for its rigorous finance program, making it a prime choice if you're aiming for careers in investment banking, private equity, investment management, or venture capital.
Key Takeaways
As part of the University of Pennsylvania, the Wharton School of Business ranks among the world's leading business schools.
Its finance program sets the international gold standard.
It's linked to numerous founders and senior executives in finance.
Recently, the school has invested in technology education and built new partnerships in the Greater China region.
Admission and Programs at the Wharton School
Given its valued Ivy League status, Wharton's admissions are extremely competitive—take the MBA Class of 2024, which saw over 6,300 applications but enrolled only 877 students.
Accepted applicants typically have an average GMAT score of 733 and an undergraduate GPA of 3.6 on a 4.0 scale. They come from diverse industries, but consulting, technology, government/nonprofit, private equity, and venture capital make up about 59% of them.
Beyond the famous MBA, Wharton provides undergraduate business degrees and a Ph.D. program, with specializations like accounting, finance, marketing, real estate, statistics, and entrepreneurship.
Back in 1975, Wharton started its Executive MBA (EMBA) program, which you can attend at the Philadelphia campus or the San Francisco one, positioned near California's tech hub.
In 2015, they opened the Penn Wharton China Center in Beijing, backed by over 20 partnerships with Chinese organizations.
The main campus sits at the center of the University of Pennsylvania.
Fast Fact on Notable Alumni
Wharton has produced figures like Donald Trump, Warren Buffett (CEO of Berkshire Hathaway), Sundar Pichai (CEO of Alphabet and Google), and Elon Musk (founder of Tesla and SpaceX, co-founder of PayPal).
The Wharton School's Reputation and Standing
Wharton boasts the largest alumni network of any U.S. business school, with nearly 100,000 members.
Historically, its reputation shines in finance, consistently supplying top talent to Wall Street and other financial institutions.
With the rise of the U.S. tech sector, Wharton is strengthening programs beyond finance to equip students for future jobs.
Its investments in China follow suit—the Penn Wharton China Center already counts over 15,000 alumni in the Greater China region.
Costs to Attend Wharton
Wharton ranks among the pricier U.S. business schools. For the two-year MBA in 2023-2024, total expenses including room, board, books, supplies, and tuition come to $246,952.
First Year Costs
- Tuition and Fees (with a $2,000 Pre-Term Fee): $87,370
- Room and Board: $26,028
- Books, Supplies, Misc.: $6,868
- Health Insurance: $4,210
- Total: $124,476
Second Year Costs
- Tuition and Fees: $85,370
- Room and Board: $26,028
- Books, Supplies, Misc.: $6,868
- Health Insurance: $4,210
- Total: $122,476
Is Wharton Better Than Harvard?
Each has its strengths: Wharton excels in business and corporate finance research, while Harvard focuses on business management and leadership.
Why Is Wharton So Famous?
Wharton has taught business finance for over 120 years, building a brand and education sought by students and industries worldwide.
Is Wharton Considered Ivy League?
Yes, as part of the University of Pennsylvania, one of the eight Ivy League universities: Pennsylvania, Columbia, Harvard, Dartmouth, Yale, Cornell, Brown, and Princeton.
The Bottom Line
Founded in 1881 as the U.S.'s first business school, Wharton has grown into the world's leading business finance institution, drawing global students and expanding internationally.
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