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It means Harvard, MIT, Stanford, University of Chicago, Penn — most generally.

But there are different MBA programs. There’s the traditional MBA, the part-time MBA (which is a great choice for people who already work), and the executive MBA.

There are a few companies that rank educational institutions and their programs by various metrics. "Top" programs are just the ones that tend to be at the top of those rankings. For MBAs, Harvard, Stanford, and UPenn's Wharton usually take the top three globally.

Look up M7, T15 and T25 B-schools, that's how they are usually called by B-folks.