The authors compared the cohort group of the top-10 MBA programs in the United States with their lower-ranking counterparts on their value-added efficiency. The findings reveal that the top-10 MBA programs in the United States are associated with statistically higher average "technical and scale efficiency" and "scale efficiency", but not with a statistically higher average "pure technical efficiency". By calculating the efficiency measures, the proper decision variables of the MBA programs can be identified and improvements to their efficiency can be made. In addition, the findings can assist prospective students in selecting the best MBA programs for their educational investment. (Contains 2 tables.)