The Stanford Graduate School of Business is the No. 1 Master of Business Administration program in the world in 2024, according to LinkedIn.

This year, eight of the top 10 universities are located in the U.S., according to LinkedIn's 2024 Top MBA global list, which evaluated the programs on five key pillars: job placement, ability to advance, network strength, leadership potential and gender diversity.

The list only includes full-time accredited MBA programs that have at least 1,500 total alumni and at least 400 graduates between 2019 and 2023.

Here are the top 10 MBA programs in the world in 2024, according to LinkedIn:

1. Stanford Graduate School of Business

Location: Stanford, California, United States

Tuition: $82,455 for the first year (in a two-year program)

Most common job titles: founder, product manager, chief of staff

2. INSEAD

Location: Fontainebleau, France

Tuition: 103,500 euros (about $114,340)

Most common job titles: product manager, strategy consultant, founder

3. Harvard Business School

Location: Boston, Massachusetts, United States

Tuition: $76,410 for the first year (in a two-year program)

Most common job titles: product manager, founder, chief of staff

4. The Wharton School (University of Pennsylvania)

Location: Philadelphia, Pennsylvania, United States

Tuition: $84,830 for the first year (in a two-year program)

Most common job titles: investment banking associate, product manager, founder

5. Sloan School of Management (Massachusetts Institute of Technology)

Location: Cambridge, Massachusetts, United States

Tuition: $86,550 for the first year (in a two-year program)

Most common job titles: product manager, founder, investment banking associate

6. Indian School of Business

Location: Hyderabad, India

Tuition: 2,472,000 Indian rupees (about $29,425)

Most common job titles: product manager, program manager, management consultant

7. Kellogg School of Management (Northwestern University)

Location: Evanston, Illinois, United States

Tuition: $83,610 for the first year (in a two-year program)

Most common job titles: product manager, investment banking associate, brand manager

8. Tuck School of Business (Dartmouth College)

Location: Hanover, New Hampshire, United States

Tuition: $80,620 for the first year (in a two-year program)

Most common job titles: investment banking associate, product manager, product marketing manager

9. Columbia Business School

Location: New York, New York, United States

Tuition: $84,496 for the first year (in a two-year program)

Most common job titles: investment banking associate, product manager, founder

10. Booth School of Business (University of Chicago)

Location: Chicago, Illinois, United States

Tuition: $84,198 for each year of two-year program

Most common job titles: investment banking associate, product manager, strategy consultant

Is an MBA worth it?

Getting an MBA is expensive and time-consuming, sometimes costing upwards of $200,000 at top universities as well as a two-year time commitment.

"Professionals should carefully evaluate the pros and cons of doing an MBA," Pooja Chhabria, head of editorial for Asia-Pacific for LinkedIn, told CNBC Make It. "They shouldn't see an MBA as a magic pill that will give them more money or leadership positions."

While some choose to attend business school in efforts to pivot their careers, others go with the goal of accelerating their professional development. The curriculum can help students improve their problem-solving abilities through case studies and engagement in real-life business projects, she said.

Another key benefit of getting an MBA, particularly at a top 10 school, is access to a world-class network.

MBA programs are a "melting-pot of talent" that comes with the opportunity to meet lifelong friends and build relationships that can open doors for decades to come, said Chhabria.

Unsurprisingly, it is highly competitive to get into a top 10 school. The acceptance rate for the Stanford Graduate School of Business is 7% for the class of 2025.

"The best way to increase your chances of getting into a top school is to submit a well thought through application articulating your purpose and goal of why you are keen to do an MBA, highlighting your skills and experience and the impact that you want to make following your MBA," said Chhabria.

"Networking with alumni in the schools that you want to pursue can help provide valuable insights to strengthen your application," she said. It can also be a good way to figure out whether or not that MBA program is right for you.

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