The United States of America (USA) remains the most preferred destination for higher education by most international students, especially for an MBA. As per Poets & Quants, which analyzed the Open Doors Report and other data about international students, the average Indian student population among non-USA resident students across all programs is 26%. In the top USA B-schools, it is 27.9%.
It alludes to the popularity of American degrees. An MBA in the USA is a dream for many. However, it is crucial to be aware of all the degree aspects. For the same, we will take you through average MBA fees in the USA, top MBA universities in the USA, costs involved, and others.
Benefits of doing an MBA in the USA
Top-ranked universities
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.
Comprehensive scholarships
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.
Industry exposure
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.
Multicultural environment
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.
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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.
Part-time MBA
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.
Executive MBA
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
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.
An MBA in General Management not only gives you a chance to build your general management skills but also covers different aspects such as operations, digitalization, and people management.
MBA in Marketing
If you are looking to make an appealing career in marketing then MBA in Marketing is an ideal choice that fortifies the knowledge of the aspirant on the topics like massive data, Consumer behavior, Marketing analytics, Pricing Strategy, and Brand management.
MBA in Consulting
An MBA in Consulting helps you develop a fair understanding of business operations and people management.
Students wishing to establish themselves as an entrepreneur can opt for this specialization.
MBA in Operations Management
This specialization focuses on planning, handling, and managing production to produce efficient results.
Top Universities for MBA in the USA
As discussed, there are several prestigious B-schools in the US. Let us check out some of the globally ranked top MBA colleges in the USA for Indian students:
University/ School
QS Global MBA Ranking 2023
Eligibility Criteria
Stanford Graduate School of Business
1
A bachelor’s degree or its equivalent from an accredited institution
A four-year bachelor’s degree or its equivalent from an accredited institution
GRE/GMAT scores
Educational transcripts
English language proficiency test scores
IELTS: 7.0
TOEFL: 560
Two recommendation letters
Essay
Yale School of Management
18
A four-year bachelor’s degree or its equivalent from an accredited institution
GRE/GMAT scores
Educational transcripts
Two recommendation letters
Two essays
Updated Resume
Intake for MBA in the US
There are majorly three admission intakes in the USA:
Spring Intake
Fall Intake
Summer Intake
However, the major semesters are Fall and Spring and a few colleges offer summer intakes.
Detailed Analysis of Some of the Top Universities in USA for MBA
1. Stanford University
Stanford Graduate School of Business in California topped the QS World University Rankings 2022 for a full-Time MBA program, with an overall score of 94.2.
Education at Stanford GSB will impart skills, knowledge, and vision to lead you to innovation and development.
GMAT Score Eligibility: 750 or higher
GRE Score Eligibility: Verbal = 164, Quantitative = 165
Minimum IELTS Score: 7
Tuition Fees for MBA Program: $75,000 (INR 55 Lakhs)
The Wharton School was the first b-school in the USA(established in 1881) and now has the most prominent alumni network. The best offerings at Wharton include joint degree programs.
GMAT Score Eligibility: 733 or higher
GRE Score Eligibility: Verbal = 162, Quantitative = 162
Minimum IELTS Score: 7
Tuition Fees for Management Program: $81,000 (INR 60 Lakhs)
Employment Rate: 81%
Top Specialization: Finance
3. University of Chicago (Booth)
The University of Chicago’s Booth School of Business secured 12th rank in the QS World University rankings – Full-Time MBA: Global 2022. The programs offered in management help you hone your analytical and managerial skills.
GMAT Score Eligibility: 732 or higher
GRE Score Eligibility: Verbal = 163, Quantitative = 163
Minimum IELTS Score: 6.5
Tuition Fees for MBA Program: $74,000 (INR 54 Lakhs)
The Kellogg School of Management is among the best MBA universities in the USA, holding 16th rank in the QS World University Rankings. You get to access a wide range of full-time and part-time MBA programs that focUSAon practical training and real-world projects. It has an impressive portfolio of alumni that have become CEOs of big companies worldwide.
GMAT Score Eligibility: 724 or higher
GRE Score Eligibility: Verbal = 160, Quantitative = 154
Minimum IELTS Score: 7
Tuition Fees for School of Management: $75,000 (INR 55 Lakhs)
Employment Rate: 80.60%
Top Specialization: Marketing
5. Harvard University
The Harvard Business School ranks 2nd in the QS World University Rankings – Full-Time MBA: Global 2022. It is one of the most renowned b-schools. You get hands-on training due to the interactive business education they have been offering since 1925.
GMAT Score Eligibility: 730 or higher
GRE Score Eligibility: Verbal = 155 to 166, Quantitative = 155 to 170
Minimum IELTS Score: 7
Tuition Fees for Business School: $74,000 (INR 54 Lakhs)
Employment Rate: 70.90%
Top Specialization: Consulting, Finance
6.Columbia University
The Columbia Business School has ranked ninth in the QS World University Rankings – Full-Time MBA: Global 2022 due to its executive and full-time MBA programs. These courses help students become good leaders, entrepreneurs, and managers. The faculty follows an informative and traditional teaching method that you will find engaging.
GMAT Score Eligibility: 700 to 760
GRE Score Eligibility: Verbal = 154 to 167, Quantitative = 156 to 170
Minimum IELTS Score: 7.5
Tuition Fees for MBA Program: $78,000 (INR 57 Lakhs)
Employment Rate: 73.30%
Top Specialization: Finance, Consulting
7. University of California (Berkeley)
Berkeley HAAS, California, ranked 11 in the QS World University Rankings – Full-Time MBA: Global 2022. It is one of the most well-known business schools in the USA and is known for its full-time MBA program.
GMAT Score Eligibility: 710 to 750
GRE Score Eligibility: Verbal = 159 to 168, Quantitative = 159
Minimum IELTS Score: 6.5
Tuition Fees for School of Business: $65,000 (INR 47 Lakhs) in-state, $69,000 (INR 51 Lakhs) out-of-state
The Yale School of Management ranked 18 on the QS World University Rankings – Full-Time MBA: Global 2022 and offers unique joint, full-time, and executive MBA programs. The business studies program at Yale allows you to indulge in “raw” cases and deal with real-world problems. Besides, you get to go to academic centers to learn theory and practical applications.
GMAT Score Eligibility: 680 to 760
GRE Score Eligibility: Verbal = 155 to 165, Quantitative = 160 to 167
Minimum IELTS Score: 7
Tuition Fees for School of Management: $73,000 (INR 54 Lakhs)
Employment Rate: 75.40%
Top Specialization: Engineering, Operations Management, Economics
Business Schools Waiving GMAT Scores in 2022
Business Schools Waiving GMAT Scores in 2022
Business School
Eligibility criteria for a GMAT Waiver
Massachusetts Institute of Technology
Applicants should submit a CFA (Chartered Financial Analyst) certificate
All applicants applying for the Full-Time MBA programs are eligible for a GMAT/GRE waiver.
Kelley School of Business
Undergraduate or graduate academic record
Work experience related to analytical and quantitative fields.
Documentation Needed 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.
Exams required for MBA in USA
To get admission to an MBA program in the USA, the students must clear some standard examinations. They are also required to qualify the English language proficiency tests.
The universities mentioned above offer different MBA programs to accommodate international students.
After the pandemic, most restrictions resulted in a low global student count by 15% from 2020 to 2021. However, with new-age solutions, students started enrolling again.
The types of MBA courses spread across USA universities are:
MBA Courses
Lowest Average Fees (Per Year)
Full-Time MBA
$73,000 (INR 54 Lakhs)
Part-Time MBA
$13,000 (INR 8 Lakhs)
Online MBA
$10,000 (INR 7 Lakhs)
Executive MBA
$89,000 (INR 65 Lakhs)
Early Career MBA
$26,000 (INR 19 Lakhs)
Most universities offer financial aid that significantly lowers the overall MBA in the USA fees.
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.
California Miramar University: USD 22,815 (16.93 lakhs)
Job Opportunities after the MBA program in the USA
According to the Corporate Recruiters Survey of 2020, MBA graduates in the USA are paid around 115,000 USD to 145,000 USD perannum(INR 85,45,788 to INR 1,07,75,124). Listed below are some of the available jobs after an MBA in the USA -:
For academic purposes, students are granted an F-1 student visa that allows them to pursue degree programs at both graduate and undergraduate levels. The student must obtain the I-20 form from the enrolled university,and they can work part-time jobs while studying in the US. Only 20 hours per week is permissible for working on campus.
List of documents required to apply for visa:
Recent passport size photograph
A valid passport
DS-160 confirmation page with barcode
Visa application fee receipts
VFS appointment letter
SEVIS receipt and I-120
Scholarship Name
About/ Awarded to
Wharton Academic Excellence Scholarship
International students studying MBA at Wharton Business School and achieve the highest academic performance (GPA) during their second and third semesters qualify for it.
MBA students at Wharton Business School with high GPA majoring in Quantitative Finance during their second year.
They must complete nine credits in the first year of their MBA.
Amount/ Benefit: $25,000
J. N. Tata Endowment Awards
One-time loan scholarship to Indians offered at the beginning of an academic year for full-time Ph.D./ postgraduate/ postdoctoral/ research fellowships studies, in all fields.
Amount/ Benefit: $10,000
The International Peace Scholarship
It is a merit-based scholarship for female international students looking to study any course including MBA at UCLA Anderson School of Management.
Amount/ Benefit: $10,000
Dean’s Scholarship
Both domestic and international students pursuing an MBA from Boston University Questrom School of Business with outstanding academic, professional, and personal qualities.
Amount/ Benefit: $10,000 to full tuition fees
Conclusion
The USA offers the best MBA programs from top universities for international students. You can find numerous opportunities in the country due to the diversity and exposure. The best universities like Stanford or Berkeley will teach you the curriculum through a unique approach.
MBA in the USA can cost anywhere between $10,000 (INR 7 lakhs) to $73,000 (INR 54 lakhs) or more for a year.
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.
Is GMAT compulsory for MBA in the USA?
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.
Is studying for an MBA in the USA worth it?
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.
What is the duration of an MBA in the USA?
Generally, an MBA is a two-year program in the USA. But some universities also offer a one-year MBA programs in the country. upGrad abroad has partnered with top universities in the USA to offer an MBA program wherein the students can study and initial part of their program online from India and move directly to the campus to complete the course.
Which are the highest paying jobs after MBA from the USA?
MBA can be pursued in various specializations, and an MBA degree from the USA not only holds value but also opens doors for better career prospects. Here are some of the career options to choose from after an MBA
Gauri Agrawal is a passionate, professional and proactive content marketer who wants to grow in the field of content creation.
She carries a rich experience of working in the Digital News sector with renowned names like Times Now Digital, and News X as a Copy Editor.
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