Financially Resilient and Revenue-Generating, Business Schools Face Diverse Institutional Realities

Tampa, Fla., USA (18 March 2026)—Business schools continue to play a pivotal financial role within higher education institutions, according to new data from AACSB. The latest analysis of AACSB-accredited schools shows that tuition and fees remain the primary source of operating revenue, accounting for an average of 67 percent of total funds in 2024–25.

Despite ongoing global uncertainty, business schools have experienced modest financial growth. Median operating funds have increased by 13 percent over the past five years, outpacing an 11 percent rise in expenditures. However, significant disparities in financial capacity remain, with larger institutions commanding substantially greater resources and stronger growth than smaller schools.

Operating budgets have remainedrelatively stable, at a global median of approximately 20 million USD. However, regional differences emerge, particularly in Europe, the Middle East, and Africa (EMEA), where schools report higher median budgets than other regions, signaling the diverse financial realities shaping business education worldwide.

Business schools also continue to be key financial contributors to their universities. Nearly three-quarters of respondents generate surplus revenue that supports broader institutional operations, reinforcing their role not only as academic units but also as drivers of institutional financial sustainability.

“Business schools remain vital financial engines for their universities, but that role comes with responsibility,” said Lily Bi, president and CEO of AACSB. “Sustaining that impact will require leaders to diversify the student pool and build more resilient revenue models as learner expectations and market dynamics continue to evolve.”

While some schools, particularly in the Americas, report substantial endowments, many others, especially in Asia Pacific and EMEA, have little to no endowment funding, reflecting differences in philanthropic cultures, institutional maturity, and financial models.

The report also includes a section on tuition trends, which have remainedrelatively stable overall, but with notable differences by region, program type, and delivery model. For example, schools in the Americas report higher tuition overall, while institutions in Asia Pacific and EMEA often show wider gaps between domestic and international undergraduate tuition, differences that narrow at the graduate level. Online programs tend to have more consistent tuition, while MBA programs command a premium over specialized master’s degrees, which show less variation between online and in-person formats.

The full report is available at aacsb.edu/insights/reports/2026/business-school-finances-and-tuition-trends-2026.