MBA is an ideal choice for aspirants who wish to enter leadership roles. The degree, especially from a superpower such as the USA, equips students with the required knowledge of business trends, entrepreneurial skills, and diversity for a career change. These reasons make an MBA in the USA for Indian students the second most popular course after engineering. In short it is worthwhile to study in USA.
Benefits of doing an MBA in the USA
50 US business schools rank among the top 100 globally according to the QS rankings. Hence, earning an MBA from such institutes of repute makes you stand out from the crowd. More than 51 MBA specializations are offered in the USA and are recognized worldwide.
Studying MBA in the US sounds expensive. However, full and partial funding options have made it affordable for Indian students. Good GMAT scores can also help you get a scholarship.
The USA is one of the leading economies, with a global brand presence in the job market. Indian students take up MBA there to get industry exposure and experience with the top brands. The international brands offer internships, live projects, training, and certification courses to the top 50 US B-schools.
The United States of America has been the most preferred overseas education destination with international students from all over the world. It offers a welcoming and safe environment to students and working professionals. Universities in the USA are culturally diverse and allow overall development for the same reason.
Eligibility for MBA in the USA for Indian students
Home to 50 globally ranked B-schools, admission to a university in the USA is competitive because the application numbers are almost 10 times more than the admission intakes. Here are some of the important MBA in the USA for Indian students’ requirements:
● A bachelor’s degree with a GPA of 3.5 to 4 from a recognized board of study.
● You need to have a minimum of two years of work experience to get an MBA in the USA.
● GMAT score. The minimum score required is 600.
● Statement of Purpose (SOP).
● TOEFL or IELTS test scores.
Types of MBA in the USA
A full-time MBA program is a classroom program of two years. In the first year, students will have exposure to business subjects. In the second year, the students need to take up one or two majors or specializations based on their grades or interest. The first year will be common for all, but the classes will be divided as per the specialization in the second year. In the second year, students will have to do various training and internships with different brands. A full-time MBA program is meant for regular students.
A part-time MBA is for individuals who are already employed and working. They take classes only on the weekends. Hence, the course duration may exceed from two to four years.
This course is designed for senior positions like managers. It focuses on leadership, monitoring, teamwork, and communication skills. Companies organize executive MBA programs for existing employees or management officials to help them upskill.
Online MBA is done through the digital mode of study. There are no fixed tenure and timings for the classes. Students can take the course from different countries without being physically present.
Top universities for MBA in the USA
As discussed, there are several prestigious B-schools in the USA. Let us check out some of the globally ranked MBA colleges in the USA for Indian students:
● Wharton School, University of Pennsylvania
● Stanford University
● NYU Stern School of Business
● Yale University
● USC Marshall School of Business
● Harvard Business School
● Columbia Business School
● Haas School of Business
● Samuel Curtis Johnson Graduate School of Management
● The University of Chicago
● Kellogg School of Business Administration
● Ross School of Business
● UCLA Anderson School of Management
● Massachusetts Institute of Technology
● Dartmouth College
Documentation for MBA in the USA
Students need to produce all kinds of necessary documents to process admission in the USA. Here are some of the most important documents for admission in MBA programs:
● All past academic qualifications and transcripts. It includes high school, graduation, post-graduation, and all relevant certificates.
● Minimum two Letters of Recommendation (LORs) from faculty or past employers.
● Updated copies of resume.
● Statement of Purpose.
● USA study visa.
● TOEFL or IELTS test scores.
● GRE or GMAT scores.
● Work experience certificate.
● Passport size photographs
How to get admission to an MBA in the USA?
American universities usually have two sessions for admission intakes- Fall and Spring. Indian students need to do thorough research about all the American B-schools and their eligibility criteria. It helps you choose the top five or six institutes where you can apply for an MBA.
Choose the specialization that you want to go for. Usually, the American B-schools offer all the sought-after specializations. Next, you need to meet the eligibility criteria.
Fill the application form by paying the application fee. Work on relevant documents like SOP and LORs. Make sure you track the important dates and application deadlines so that you don’t apply at the last minute. The competition is intense, so apply to as many institutes as you can. Prepare yourself well for the interview rounds.
Cost of MBA in the USA for Indian students
MBA in the USA is expensive. However, it is completely worth getting an MBA degree from one of the leading MBA institutes. The average cost of an MBA in the USA is something between 49 lakhs to 89 lakhs per year.
1.Harvard University MBA fees for Indian students: USD 73,440 (INR 54.49 lakhs).
2.Wharton MBA fees for Indian students: USD 83,230 (INR 61.76 lakhs) for the first year, and
3.Stanford University MBA fees for Indian students: USD 74,706 (INR 55.43 lakhs) for the first year.
Affordable MBA in the USA for Indian students
For Indian students, getting an MBA from the USA is a dream. However, on average, an MBA in the USA costs around 70 lakhs a year. It is just the fee, and you will have to pay seven-eight lakhs for the living cost too. It can be difficult to manage for many deserving students.
Taking note of this, we have listed down the cheapest MBA colleges in the USA for Indian students. The average tuition fees of these range from INR nine lakhs to 17 lakhs yearly.
● University at Buffalo: USD 12,195 (INR 9.05 lakhs)
● Lamar University: Less than USD 16,000 (INR 11.87 lakhs)
● Iowa State University: USD 16,983 (INR 12.60 lakhs)
● California Miramar University: USD 22,815 (16.93 lakhs)
Job opportunities after MBA program
According to the Corporate Recruiters Survey of 2020, MBA graduates in the USA are paid around 115,000 USD to 145,000 USD per annum (INR 85,45,788 to INR 1,07,75,124). Listed below are some of the available jobs after MBA in the USA -:
● Operations Manager
● Project Manager
● IT Manager
● Executive Director
● System Engineer
● Human Resource Manager
● Sales Manager
● IT Consultants
● Chief Financial Officer
● Business Development Director
● Senior IT Manager
● Account Manager
● Accounting Manager
● Finance Manager
● Financial Analyst
● HR Director
● Data Analyst
● Sr Product Manager
● Business Development Manager
● Office Manager
● Marketing Manager
● Management Consultant
MBA in the USA for Indian students: FAQs
Q1. Can I do an MBA for free in the USA?
A. Yes, the top business schools like Harvard University and Stanford University offer fully-funded MBA programs that make the tuition fee negligible. In the USA, there are full as well as partial funding options for international students. However, the eligibility criteria and the required merit are high, and there is a lot of competition among meritorious students for them. Some of the scholarships for MBA in the USA for Indian students are Fulbright- Nehru Fellowships, IEFA, AAUW International Fellowships, and Rotary Ambassadorial Scholarship.
Q2. Is GMAT compulsory for MBA in the USA?
A. Yes, the GMAT is a compulsory entrance examination for the top MBA programs in the USA. The minimum score required is 600. However, it varies from one university to another. The top three universities have high GMAT score requirements. Some universities do not require a GMAT score. Some of them are the University of Hull, Ross School of Business, Florida International University, Pace University, and Boston University. To waive off the GMAT score requirement, one needs to have a high GPA or work experience.
Q3. Is studying for an MBA in the USA worth it?
A. Doing an MBA from the most developed economy has its benefits. An MBA degree offers strong knowledge about business development, administration, and leadership and helps build a strong network and explore lucrative opportunities. On the better side, an MBA done from the USA is completely worth every penny invested. The students get international exposure with top-notch brands, a flexible education system, the best faculties, and a ranked MBA degree.