MBA in the USA
Study Abroad Expert July 8, 2024

MBA in USA: Universities, Cost, Eligibility

According to the US Department of Education, the US is the largest MBA market in the world. More than 1,25,000 MBA candidates graduate annually. Last year, in 2023, over 200,000 individuals graduated with an MBA degree. If you have a degree in MBA in the USA, getting a job is easy once you finish your degree.  

If you want to study MBA in the USA but are still trying to figure out where to start, don’t worry. In this blog, Shuraa Education will help you understand the universities’ costs, the eligibility criteria, and the best universities to get admitted to. Go through this guide, and you will indeed have some idea about how to study abroad.  

Why Study an MBA in the USA

Doing an MBA in the USA offers cutting-edge facilities, academic excellence, and promising career opportunities. Here are some key reasons why pursuing an MBA in the USA is a worthwhile endeavour: 

  • US institutions emphasise experiential learning through internships, co-ops, and various training programs. These opportunities allow students to interact with industry leaders and prepare for future challenges. 
  • Many Fortune 500 companies are headquartered in the US. Which significantly increases one’s chances of getting a position at any prominent firm. Additionally, job roles often involve leadership-oriented activities and key decision-making responsibilities. 
  • According to the US Department of Education, the US is the largest MBA market globally. With over 125,000 MBA candidates graduating annually. 

MBA in USA top universities 

Below down are the top universities for pursuing an MBA course: 

 

Rank  University  Overall score 
1  Harvard University  96.5 
4  Stanford university  92.3 
5  Massachusetts Institute of Technology (MIT)  91.8 
7  University of Pennsylvania  91.3 
12  University of California Berkeley  87.1 
16  Northwestern University  84.7 
18  New York University (NYU)  84.3 
19  University of Chicago  83.5 
22  Columbia University  82.7 
27  University of Michigan-Ann Arbor  80.8 

Top MBA Specializations in the USA 

The USA is home to top-ranked business schools offering a variety of MBA specialisations. Here are some Best MBA colleges in the USA: 

MBA Specialization  University Name 
MBA in General Management 
  • Harvard University 
  • Stanford University 
  • Northwestern University 
  • University of Michigan–Ann Arbor 
  • Yale University 
MBA in Marketing 
  • Stanford University 
  • Northwestern University 
  • UCLA 
  • Harvard University 
  • Indiana University 
MBA in Human Resource Management 
  • Northwestern University 
  • Vanderbilt University 
  • University of Michigan 
  • Brigham Young University 
  • Purdue University 
MBA in Entrepreneurship 
  • Babson College 
  • Stanford University 
  • Massachusetts Institute of Technology 
  • University of California, Berkeley 
  • University of Pennsylvania 
MBA in Finance 
  • University of Pennsylvania 
  • University of Chicago 
  • New York University 
  • Columbia University 
  • Massachusetts Institute of Technology 
MBA in Business Analytics 
  • University of Pennsylvania 
  • New York University 
  • University of Michigan 
  • Boston University 
  • University of Virginia 

Types of MBA Programs in the USA 

Universities in the USA offer a wide range of MBA programs that are both full and highly flexible. The different types of MBA programs available in the USA are listed below: 

Types of MBA  Description  Colleges 
Full-Time MBA  A two-year immersive on-campus MBA program. 
  • Stanford 
  • Harvard 
  • UPenn 
  • Chicago-Booth 
  • MIT 
Executive MBA  An MBA program for working professionals, with weekend or intensive sessions. 
  • UPenn Wharton 
  • MIT 
  • Yale 
  • Northwestern 
Part-Time MBA  An MBA program for working professionals, with evening or weekend classes. 
  • MIT 
  • Harvard 
  • Stanford 
  • Columbia University 
Online MBA  Flexibility allows students to pursue an MBA anywhere, anytime. 
  • Indiana University 
  • University of North Carolina 
  • University of Florida 
Early Career MBA  Students with limited work experience fast-track their business careers. 
  • Chicago-Booth 
  • UPenn Wharton 
  • UCLA 
Global MBA  Students aiming for global careers offering international expertise. 
  • Harvard 
  • New York University 

Best MBA programs in the USA 

The best MBA programs in the USA are as follows: 

  • General MBA 
  • MBA in Finance 
  • MBA in Marketing 
  • MBA in Entrepreneurship 
  • MBA in Accounting 
  • MBA in Human Resource Management 
  • MBA in Consulting 
  • MBA in Technology Management 
  • MBA in Operations Management 
  • MBA in Management Information Systems 
  • MBA in Health Services Administration 
  • MBA in International Business 

Eligibility Criteria for MBA in the USA 

The basic criteria are generally consistent; below are the eligibility criteria for MBA in the USA:  

  • A minimum of 16 years of education. It’s a four-year undergraduate degree. Some universities may also accept 15 years of education. 
  • English language proficiency test scores, such as IELTS. 
  • GMAT or GRE test scores, with a minimum score of 600 or 300+, respectively. 
  • You should have 2-3 years of work experience for some institution.  

IMPORTANT: Many US institutions consider candidates without work experience, but those with work experience often have an advantage. 

Documents Required for Studying an MBA in the USA 

International students must submit additional documents when applying for an MBA in the USA. These include: 

  • Your Cover Letter 
  • USA Student Visa 
  • Academic Transcripts 
  • Letters of Recommendation 
  • GMAT/GRE Scores 
  • Your Resume 
  • Statement of Purpose for MBA 
  • Minimum English Proficiency Test Scores: IELTS 7.0, TOEFL iBT 100, PTE 54 

How many MBA intakes are there in the USA? 

USA colleges and universities offer three different intakes for studying abroad. This is not like Indian universities, where there is only one intake! So, here’s a plus point about studying in the USA. There are 3 intakes mentioned below: 

  • The Fall Intake: This is a popular intake for Indian students who want to study in the USA. It starts in August.  
  • The Spring Intake: It’s the second-best option amongst the students, and if you miss the September intake, you can choose this one. It starts in January.  
  • The Summer Intake: This is available for limited programs and colleges. This intake usually starts in May.  

MBA Admission Requirements USA at US Business Schools 

In addition to academic qualifications, qualifying scores in exams such as IELTS, TOEFL, PTE, or DET are required for pursuing a Master of Business Administration in the USA. 

University  Academic Requirements (Minimum GPA)  GMAT Score | Average Work Experience  Language Proficiency (TOEFL iBT) 
Stanford Graduate School of Business  3.7  738 | 5 years  100 
Harvard Business School  3.7  740 | 4.9 years  109 
Wharton School  3.6  728 | 5 years  100 
MIT Sloan School of Management  3.6  730 | 5 years  100 
Columbia Business School  3.6  727 | 5.6 years  100 
Haas School of Business  3.5  710 | 4.5 years  90 
Chicago Booth  3.6  730 | 5 years  104 
Anderson School of Management  3.4  710 | 5.7 years  87 
Kellogg School of Management  3.7  731 | 5 years  100 
Yale School of Management  3.6  720 | 5.1 years  100 
Stern School of Business  3.6  732 | 5.2 years  No minimum score requirement 
Ross School of Business  3.4  715 | 6.1 years  100 
Fuqua School of Business  3.3  700 | 4.5 years  No minimum score requirement 
Johnson College of Business  3.3  710 | 5.5 years  100 
Questrom Business School  3.3  683 | 6 years  No minimum score requirement 

Test Scores Required for MBA Admission in the USA 

Below are the test scores required for MBA admission in the USA: 

IELTS 

International MBA applicants typically need an IELTS band score of 6.5 or higher (both paper-based and computer-based tests). Verify the specific university requirements, as they might differ. 

GRE 

Many US colleges accept GRE scores alongside or in place of GMAT scores. Each institution sets its own GRE score requirements. Kindly verify the details with your selected school or consult a Shuraa expert. 

GPA 

Your undergraduate GPA is also considered; aim for a 3.6 GPA or a B+ average. Admission decisions may also factor in your performance on graduation exams. 

GMAT 

Most US universities require a minimum GMAT score of 650, though some may accept scores as low as 500. The GMAT assesses verbal, numerical, cognitive, and analytical skills. 

Cost of an MBA in the USA 

Below are detailed sections outlining these expenses for pursuing an MBA in the USA. 

MBA Fees in the USA for Indian Students 

University  Annual Tuition Fees (USD)  Annual Tuition Fees (INR) 
Stanford Graduate School of Business  82,455  66 lakhs 
Harvard Business School  74,910  62 lakhs 
Wharton School  87,370  72 lakhs 
MIT Sloan  82,000  68 lakhs 
Columbia Business School  84,496  70 lakhs 
Haas School of Business  82,059  68 lakhs 
Chicago Booth School of Business  80,961  67 lakhs 
Anderson School of Management  78,350  65 lakhs 
Kellogg School of Management  81,015  67 lakhs 
Yale School of Management  82,200  68 lakhs 
Stern School of Business  84,180  69 lakhs 
Ross School of Business  75,392  62 lakhs 
Fuqua School of Business  75,000  62 lakhs 
Johnson College of Business  79,910  66 lakhs 
Boston Business School  63,798  52 lakhs 

Note: As of April 24, 2024, USD 1 = INR 83.31 

Expenses for Indian Student studying in the USA 

Below are the mentioned expenses for Indian students studying in the USA: 

Expense Type  Average Annual Expense (USD)  Cost for Indian Students (INR) 
Accommodation  16,000  13 lakhs 
Meals  4,700  3 lakhs 
Transportation  810  67,400 
Health Insurance  4,100  3 lakhs 
Personal Expenses  3,900  3 lakhs 
Total  29,700  24 lakhs 

MBA Scholarships USA 

Below are some of the MBA scholarships available in the USA for international students: 

Business School  Scholarship Name  Award Amount (USD) 
Harvard Business School 
  • Forte MBA Fellowships 
  • Need-Based Tuition Assistance 
  • Up to 25,000 USD 
  • 46,000 USD per year, or 92,000 USD total 
Stanford Graduate School of Business  Knight-Hennessy Scholars Program  Full tuition for up to 3 years | Stipend for living and academic expenses and a travel stipend 
Wharton School  Joseph Wharton Fellowships  Variable 
Columbia Business School  Meyer Feldberg Distinguished Fellowship Program  USD 100,000 
Haas School of Business 
  • Haas Global Impact Scholarship 
  • Dr. Tahir Fellowship 
  • Full tuition 
  • Variable 
University of Chicago Booth School of Business  Social Impact Fellowship  Full tuition 
Yale School of Management  Schwarzman Scholars Program  Full tuition 
NYU Stern School of Business  William R. Berkley Scholarship  10,000 USD 
Fuqua School of Business  Merit Scholarships  Partial or Full Tuition Coverage 
Boston Business School  Dean’s Scholarships  10,000 USD or Full tuition coverage 

Salary after MBA in the USA 

Below are the job opportunities available to MBA graduates based on their specialisation. 

 

Program  Job Profile  Average Salary (USD)  Average Salary in INR 
MBA General Management 
  • Business Development Director 
  • Project Manager 
  • Operations Manager 
94,000  78 lakhs 
MBA Finance 
  • Financial Analyst 
  • Finance Manager 
  • Accounting Manager 
106,000  88 lakhs 
MBA Human Resource 
  • HR Manager 
  • HR Generalist 
  • HR Specialist 
74,000  61 lakhs 
MBA Marketing 
  • Marketing Director 
  • Product Manager 
  • Marketing Manager 
99,000  82 lakhs 

 

Post-MBA Work Opportunities in the USA 

After graduating, international students find it attractive to stay in the USA due to its environment, rich culture, and numerous opportunities. The US government offers a process for getting a post-graduate work visa, especially for those with a valid F1 visa. 

Students can participate in temporary employment programs like OPT (Optional Practical Training) or CPT (Curricular Practical Training). STEM program graduates in Computer Science, Engineering, and Business Management can extend their stay for up to 3 years. 

The USA’s appeal for higher education is based on innovation, extensive research opportunities, high-quality education, and globally recognised degrees. 

Documents Required for OPT and CPT 

Below are the documents required for OPT and CPT: 

 

Document  OPT (Optional Practical Training)  CPT (Curricular Practical Training) 
I-765 (original)     
2 passport-size photographs     
Printout of the I-94     
Copies of all earlier issued I-20s     
Current passport copy     
Copy of OPT recommendation and I-20     
F-1 visa stamp copy on passport     
Any earlier issued EAD cards’ copies     
Academic recommendation form     
I-20 present copy     
Electronic form I-94 printout     
CPT online workshop completion certificate     
Training certificate from your employer     

MBA in the USA with Shuraa Education 

We hope this blog on MBA in the USA was easy to read. We have covered everything related to studying in the USA, which can be difficult, but don’t worry. You can contact our overseas education experts if you still have any queries regarding studying abroad.  

Shuraa Education is happy to help you at any step. Our experts know how to guide and support students who feel stuck. Contact us today for a free consultation at +91 931 999 8925 or info@shuraaeducation.com 

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