MBA in USA

Overview

Contents

An MBA in the USA can be highly rewarding in terms of the skills you pick up, the push it gives to your career and the worldview you develop living in the financial capital of the world.

While there there has recently been a downward trend in domestic applications in the United States for an MBA, with a further 24 months of Optional Practical Training facility, international applicant growth is likely to hold steady for STEM Certified M.B.A. programs.

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Getting an M.B.A. can transform one’s career and open up career opportunities in the host country. According to the survey conducted by GMAC Application Trends in 2019, 50% of international students apply in the U.S. to secure jobs in the U.S.

Almost all of the prominent business schools in the world are located in the United States. Getting an M.B.A. degree from these prestigious institutions can set the stage for better opportunities.

Also Read – US B-Schools Continue to Dominate The Economist Full-time MBA Rankings 2019

Employers understand for instance, how challenging it is to get enrolled to the Wharton School of Business, which has an acceptance rate of just 19.2%;

Graduates from American M.B.A. Programs have an advantage over other fellow graduates as the ‘USA MBA’ brand is highly respected. It is no surprise that well over 75% of potential students choose the USA.

Why Study MBA in the USA?

The United States of America has some of the most noteworthy and esteemed business schools in the world. The MBA program enjoys a special status when obtained from the crème de la crème of these American colleges.

With all the top MBA recruiters residing in America, the country offers many favourable positions in top businesses for MBA graduates, adding to the plethora of reasons why an MBA in the USA is a lucrative choice.

Also Read – US B-Schools Capture 16 of Top 20 Economist MBA Rankings 2017

What makes the USA so popular among MBA seekers?

51 of the best 100 MBA programs, graded by the Financial Times’ Global MBA Rankings, are from the US. Furthermore, there is a valid justification for the particularly uncontested rule of USA over the domain of business education. The MBA degree itself began or, in a sense, originated in the country as a way to give an educational certification to the study of business.

The University of Pennsylvania’s Wharton in the 1800s originally started preparing students with the parts of managing a fruitful business – bookkeeping, finance, legal, promotions, activities, and much more.

Top 10 MBA Programs in USA

University/ Business School	Rank in USA (As per FT Global MBA Ranking 2020)	Global Rank (As per FT Global MBA Ranking 2020)	Weighted salary (US$)
Harvard Business School	1	1	210110
University of Pennsylvania – Wharton	2	2	211543
Stanford Graduate School of Business	3	3	222625
MIT – Sloan	4	6	197177
Columbia Business School	5	8	202238
University of Chicago – Booth	6	10	191679
Northwestern University – Kellogg	7	11	186438
University of California at Berkeley – Haas	8	12	193630
Yale School of Management	9	14	178829
Dartmouth College – Tuck	10	16	177819

MBA Salary in the USA

According to a NACE Salary Survey, the base salary of MBA grads for students of 2020 was close to $79,043, despite the pandemic. This figure was $20,000 more than the projected average starting salary for MBA graduates.

This shows that pursuing an MBA in any part of the world pays you with rich dividends. In America, an MBA degree holds immense value to any firm or organization. Graduates who have completed the best MBA programs in the USA stand to earn higher than others globally.

Also Read – Admission Open for One Year MBA at Cornell Johnson College of Business

According to market statistics, a Stanford MBA graduate in 2020 earned an average base salary of $150,000. You can find details about the average base salary for graduates having done the Best MBA programs in the USA in the given table.

As you can see, the figure scales more than 100K. Additionally, firms and organizations in the United States of America offer you with a signing bonus. Research done by the Corporate Recruiters Survey 2019 showed that half of the American organizations give new recruits with a signing bonus of $10,500 for MBA graduates.

Cost of Living in USA

For an international student, the cost of living in the USA will vary depending on housing, lifestyle choices, and other factors chosen by the student. Below are some of the expenses that you will incur while living in the United States:

Categories	Average monthly expenses(in USD)
Accommodation	1000 (On-Campus) 600-800 (Off-Campus)
Meals	120-160
Transportation	100-300

Admissions For MBA in the USA

Although understanding the admission process and application cycle for top universities in the USA is essential in finding the right business school, when it comes to applying, it can be a very tedious and overwhelming affair for an international student who is unaware of the procedures in a new country. From managing document submissions to ensuring full compliance with rules, and regulations – it can all be a bit hair-raising!

Let’s look at some of the things you should know if you are planning to apply for an MBA in USA.

Admission Cycle For MBA in USA

USA Universities offer interested students 3 chances per year to apply for different courses and universities. So, they can choose either of the three courses according to their preferences and comfort.

Applications for Fall Semester

The fall semester begins at the end of August and ends in late December or early January.
Many selected courses are limited to the fall semester.
Students can avail a lot of scholarships and job opportunities during this semester.

Fee & Scholarships

MBA in USA – Scholarships and Financial Aid

One of the primary challenges faced by students is the cost of studying MBA in the U.S. There are, however, a variety of ways to fund your education, including fellowships, scholarships, assistantships, and education loans.

For instance, the average MBA scholarship from Harvard is USD 40,000 annually. Furthermore, the Harvard MBA scholarship is a privilege that does not have to be repaid, and nearly half of the class is granted one each.

Learn more about how to get an MBA Scholarship from Harvard.

Most of the best MBA programs in the USA grant merit-based scholarships in general. In addition to that, targeted scholarships such as diversity scholarships are also offered by business schools.

Here is a link to an article that goes over the list of scholarships available for Indian and International students at Top business schools.

FAQS

Ques. Would it be worth acquiring an MBA in the United States?

Ans. The USA. has most of the world’s leading MBA-graduate universities such as Harvard and Stanford Universities. A student who has an M.B.A. from a. USA institution can develop innovative business competencies and skills through the all-inclusive courses. So USA will not be a bad option if one plans to pursue an M.B.A.

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