USA is one of the top destinations for Indian and international students to pursue an MBA. Apart from a full-time MBA program, which is for two years, MBA aspirants can also opt for a one-year program in the USA. So before moving on let’s talk about what is the cost of an MBA in the USA. Also, the brand value for the best MBA programs in the USA is high, giving you an edge over other MBA graduates. Around 75% of prospective students choose the United States as their study destination because of the reputation of its educational system.
Cost of MBA in USA
When you think of any education the first question which triggers your mind is how much fees or cost you have to pay to get the best college. So helping you with this question here we listed some top colleges and their costs. Go through the below table:-
|Wharton School of Business||$223,390|
|Kellogg School of Management||$211220|
|Booth School of Business||$220576|
|MIT Sloan School of Management||$237,636|
|Harvard Business School||$225,204|
|Columbia Business School||$228,438|
Colleges for MBA in USA
In MBA colleges students have the flexibility to select the duration of MBA courses. It depends on them, they can choose for full-time, part-time, or accelerated MBA programs. But due to COVID-19 many business schools in the United States have shifted to Online Classes.
Top Colleges and Universities for MBA in USA
Here is the list of top 10 Colleges that are at the top priority of every aspirant of MBA.
- Standard GSB
- Dartmouth Tuck
- Booth School of Business, University of Chicago
- Harvard University, Boston, Massachusetts
- Wharton, University of Pennsylvania
- Kellogg School of Management, Northwestern University, Illinois
- Sloan, MIT, Massachusetts
- Tuck School of Business, Dartmouth College
- Haas School of Business, University of California, Berkeley
- Columbia University, New York
- New York University Stern School of Business
- Yale School of Management, New Haven, Connecticut
- University of Michigan’s Ross School of Business
- Darden School of Business – University of Virginia
- Samuel Curtis Johnson Graduate School of Management, Cornell University, Ithaca, NY
- Fuqua School of Business, Duke University, North Carolina
- UCLA Anderson School of Management, Los Angeles
- Tepper School of Business, Carnegie Mellon University
- McCombs School of Business, the University of Texas at Austin
- Olin Business School – Washington University in St. Louis, Missouri
Salary of an MBA in USA
Now you may be wondering what salary you will get after MBA in the USA. Yes, the tuition fees are high but after graduating you will get double what you paid. It’s like you invested first and know taking the interest with a paid amount. So the salary which will be given to you after passing out from top MBA colleges is $174K. And on average across all schools is $107K. The lowest salary which will be given to any graduate is $52K. This was all about the average of all colleges. Now in the below table, you can see some top colleges’ names followed by the salary that will be paid to graduate from that college.
|Wharton School of Business||$150,000|
|Kellogg School of Management||$126,606|
|Booth School of Business||$145,000|
|UC Berkeley (Haas)||$140,000|
|Yale School of Management||$127,100|
The average salary of MBA
As every degree has its specialization field likewise in MBA also there are some specialized fields. Below is the average salary which a graduate will get after specialized in a particular domain.
- The average salary that is given to graduates from MBA programs specialized in Technology is $112K.
- The average salary for MBA graduates who are specialized in Consulting will get $104K on average.
- Students who are specialized in MBA Finance will get an average salary of $98K.
- For the specialization in MBA Marketing, one will be paid for $91K.
NOTE: Above given all salaries are per year.
How to do MBA in USA
If you want to know how to do MBA then this block will be helpful for you. There is some procedure which you have to follow and you have to also meet some criteria as well.
The majority of institutes in the USA require candidates to have a minimum of 16 years of education. It means that students has completed a graduate degree after completing their school (10+2). Along with them who have done with their master’s degree are also eligible.
Minimum educational requirements for pursuing MBA in the USA:-
- Four years of Bachelor’s degree
- GMAT score over 600
- Proof of English Proficiency (TOEFL/IELTS)
- Universities also require/recommend a minimum of two-three year’s work experience.
The work experience is not a compulsory requirement it’s an option. Universities also take fresher’s.
Scholarships for MBA in USA
Most students who drop their idea from pursuing an MBA in the USA is due to high tuition cost and some of them because of the cost of living. For these students’ universities, schools in the USA for MBA started finance education of students through fellowships, scholarships, and education loans.
The average Scholarship amount for the Harvard MBA is $40K per year. And the best part of this is that you don’t have to pay back it and 50% of the class receives it so you can be one of it.
How to get a scholarship for MBA in USA
A good GMAT score can help you get a high scholarship amount. A good GMAT score means above 700 so that you can get a good scholarship. You can also apply for an education loan by estimating the fund you want and then contacting them. For this, you also require a USA cosigner loan option, understand it, and then you can credit it.
Jobs for MBA in USA
- IT Manager
- Financial Manager
- Financial Advisor
- HR Manager
- Management Analyst
- Senior Product Manager
One year MBA in USA
One year MBA is the preferable course for students. It is the best selling point. This is more beneficial because people are doing it quickly and then putting their knowledge into use. Just you will have an intense calendar for the next 12 months but after that all rewards are yours. Also, it minimizes the cost as compared to the 2- year MBA. There is no difference between One Year MBA and Two Year MBA course the education is the same.
MBA in USA without Work Experience
There are many colleges that don’t have the criteria of work experience and they give admission to students who don’t have any experience. Here is a list of those Colleges:-
- Wharton MBA
- Sloan School Of Management
- Stern School of Business
- Chicago Booth School of Business
- Marshall School of Business
Courses in MBA in USA
The specialization courses which are offered in USA universities, colleges, business schools are listed below:
- MBA in Finance
- MBA in Human Resource Management
- MBA in Information Technology (IT)
- MBA in Logistics Management
- MBA in Marketing Management
- MBA in Health Care Management
- MBA in Operations Management
- MBA in Event Management
- MBA in Business Analytics
- MBA in Rural Management
Duration of MBA in USA
The time period to complete an MBA degree in the USA is 2-years. But if you want to complete before that then the new program is also there that if of 1-year. So it depends on you which you want to choose.
Cheap MBA in USA
Below are some college names who take minimum fees for this course.
|Oklahoma City University||$16,230|
|University of Texas||$19,048|
|Florida State University||$18,693|
|West Texas A & M||$9,600|
MS v/s MBA in USA
Both the degrees are for doing masters and education in the USA is best. What if you have to choose one and you are confused about it. In this section, you can know more about what you will get after doing each degree and how much scope you have.
Starting with the MS, doing MS from the USA has many opportunities and it has a duration of 1 to 3 years. It focuses on many specialization courses like science, mathematics, and engineering-related subjects. After this, you will be eligible to pursue doctorate level degrees. The scholarship is also available for students.
Coming to the MBA, MBA is of 1 to 2 years course and focuses on management subjects. After this, you will directly approach jobs. If you opt for this course then you can go back to a technical career. And as compared to MS, MBA graduates will revolve around management things only whereas MS students can get high payable jobs.