Stanford University has the top MBA program in the world in 2024, according to LinkedIn.David Madison | Getty Images Sport | Getty ImagesThe 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 BusinessLocation: Stanford, California, United StatesTuition: $82,455 for the first year (in a two-year program)Most common job titles: founder, product manager, chief of staff2. INSEADLocation: Fontainebleau, FranceTuition: 103,500 euros (about $114,340)Most common job titles: product manager, strategy consultant, founder3. Harvard Business SchoolLocation: Boston, Massachusetts, United StatesTuition: $76,410 for the first year (in a two-year program)Most common job titles: product manager, founder, chief of staff4. The Wharton School (University of Pennsylvania)Location: Philadelphia, Pennsylvania, United StatesTuition: $84,830 for the first year (in a two-year program)Most common job titles: investment banking associate, product manager, founder5. Sloan School of Management (Massachusetts Institute of Technology)Location: Cambridge, Massachusetts, United StatesTuition: $86,550 for the first year (in a two-year program)Most common job titles: product manager, founder, investment banking associate6. Indian School of BusinessLocation: Hyderabad, IndiaTuition: 2,472,000 Indian rupees (about $29,425)Most common job titles: product manager, program manager, management consultant7. Kellogg School of Management (Northwestern University)Location: Evanston, Illinois, United StatesTuition: $83,610 for the first year (in a two-year program)Most common job titles: product manager, investment banking associate, brand manager8. Tuck School of Business (Dartmouth College)Location: Hanover, New Hampshire, United StatesTuition: $80,620 for the first year (in a two-year program)Most common job titles: investment banking associate, product manager, product marketing manager9. Columbia Business SchoolLocation: New York, New York, United StatesTuition: $84,496 for the first year (in a two-year program)Most common job titles: investment banking associate, product manager, founder10. Booth School of Business (University of Chicago)Location: Chicago, Illinois, United StatesTuition: $84,198 for each year of two-year programMost common job titles: investment banking associate, product manager, strategy consultantIs 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.Want to make extra money outside of your day job? Sign up for CNBC's new online course How to Earn Passive Income Online to learn about common passive income streams, tips to get started and real-life success stories.Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life. Read the full article here