For the second year in a row, the Full-Time MBA Program at Michigan State University’s Broad College of Business has been cited for having the second shortest payback time among all programs ranked by Forbes—and the quickest payback in the Big Ten.

Forbes biennial MBA rankings are based solely on return on investment (ROI), calculated by measuring compensation five years after graduation and subtracting tuition and salary forgone during school.

The 2015 ranking places Broad’s program No. 8 among public schools and No. 22 overall. Since 2007, Forbes has consistently ranked Broad among the top 10 public institutions and the top 25 programs overall.

Broad alumni needed just 3.6 years to make up the costs of their MBA degrees in additional compensation, Forbes calculated, despite the surveyed students graduating in the heart of the economic downturn.

The magazine surveyed the Class of 2010 and requested pre-MBA salaries and compensation for three of the first five years after receiving degrees. Forbes then compared their post-MBA compensation with their opportunity cost: both tuition and the estimated salary they would have made had they stayed in their old jobs. Salary figures were adjusted to account for cost-of-living expenses, and the earnings gains were discounted using a rate tied to the discount rate large companies’ pension funds use.

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