The Smeal College of Business’ Master of Business Administration program (MBA) was ranked second for graduates’ return on investment by Bloomberg Businessweek, the latest in a series of strong rankings for Smeal.

The return on investment value was determined based on the cost of the program, two years of foregone wages, and the average salary increase students experience after graduating. According to the Businessweek ranking, Penn State MBA graduates get back close to half what they invested in going to business school the first year after graduation.

University of Wisconsin-Madison ranked first — however, Businessweek noted its return on investment value was disproportionally high thanks to a lucky graduate who graduated with a compensation package of around $1 million.

Smeal ranked 40th overall and 16th in public business schools in Businessweek’s most recent MBA rankings. The calculated return on investment was not factored into school’s overall rankings.

“A Smeal education ranks among the very best for both value and quality. For our many students with scholarships and graduate assistantships, that ROI is even faster,” said Carrie Marcinkevage, managing director of the Penn State Smeal MBA Program.

Smeal’s accolades are piling up. Over the summer, Smeal’s undergraduate supply chain program was ranked tops in the country. And in April, Smeal was named among the top 30 business schools in the country.