The 20 best business schools in America

That's according to the latest list of top business schools by U.S. News & World Report, which ranked 131 MBA programs based on criteria that includes job placement, starting salary, selectivity, and assessments by peers and recruiters. The schools were given a numerical score, with 100 representing the best possible result. Read a full breakdown of the methodology here.

Business Insider culled the 20 top schools on the list, each of which made an appearance on our most recent ranking of the best business schools in the world. While many familiar and vaunted MBA programs are congregated at the top, only two were able to earn a perfect score of 100.

Read on to learn more about the 20 top business schools in America.

Note: Tuition figures reflect annual costs for out-of-state students.

20. Emory University — Goizueta Business School

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19. Carnegie Mellon University — Tepper School of Business

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Overall score: 75

18. University of North Carolina — Kenan-Flagler Business School

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Overall score: 77

17. University of Texas at Austin — McCombs School of Business

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16. Cornell University — Johnson Graduate School of Management

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15. University of California at Los Angeles — Anderson School of Management

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14. University of Virginia — Darden School of Business

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12. TIE: New York University — Stern School of Business

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12. TIE: Duke University — Fuqua School of Business

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11. University of Michigan — Ross School of Business

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9. TIE: Yale University — Yale School of Management

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9. TIE: Columbia University — Columbia Business School

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8. Dartmouth College — Tuck School of Business

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7. University of California at Berkeley — Haas School of Business

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4. TIE: Stanford University — Graduate School of Business

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Often ranked as a top-two business school, Stanford failed to reach the summit this year in part due to lower job placement figures than competing schools. Sixty-three percent of the class of 2016 were employed by graduation, and 82% were employed three months after graduation — each figure well below the marks reached by the top-3 MBA programs. Stanford attributes the drop to students becoming more patient and selective.

4. TIE: Northwestern University — Kellogg School of Management

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4. TIE: Massachusetts Institute of Technology — Sloan School of Management

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3. University of Chicago — Booth School of Business

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1. TIE: University of Pennsylvania — The Wharton School

Location: Philadelphia, Pennsylvania

Average starting salary: $155,058

Average GMAT score: 730

Tuition and fees: $73,634

Overall score: 100

The Wharton School earns a tie for the top ranking alongside Harvard. It's the second-most expensive program in the country, but Wharton's stellar reputation, high average starting salary, and 96% job placement within the first three months of graduation make it a worthwhile investment. Only Stanford's students scored higher on the GMAT.

The first business school in the US, Wharton was established in 1881 from a $100,000 donation by industrial tycoon Joseph Wharton. The institute now boasts one of the largest alumni networks among b-schools, including notable figures like John Sculley of Pepsi and Apple, LinkedIn CEO Jeff Weiner, and billionaire financier Ron Perelman.

1. TIE: Harvard University — Harvard Business School

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The world's oldest — and most expensive — MBA program, Harvard Business School is also often considered the best. This year, HBS shares that distinction with The Wharton School.

The high average-starting salary its graduates command, the school's reputation with employers, and the HBS network of more than 46,000 living alumni make it one of the most coveted business schools for students. HBS's cadre of successful alumni — littered with politicians, CEOs, and billionaires — is unrivaled: Former New York City Mayor Michael Bloomberg, former President George W. Bush, JPMorgan Chase CEO Jamie Dimon, former Massachusetts Gov. Mitt Romney, Facebook COO Sheryl Sandberg, Blackstone CEO Steve Schwarzman, and HP Chairman Meg Whitman all graduated from the institution.

The 20 best business schools in America

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