MBA in USA 2023: MBA has become a famous course all over the world. Sometimes, international MBA degrees are also preferred over native degrees. The USA is the most sought country from where MBA is highly preferred. The two-year course costs approximately 170,000 USD to 220,000 USD. However, the cost of an MBA to Indian students estimates more than 1Crore. Even with such a high cost, students desperately wait to seek admission in the USA. The USA is considered the birthplace of an MBA. Let us know more about MBA in USA 2023 through the details mentioned below:
USA Top B-Schools for MBA:
Some of the popular business schools offering MBA in the USA are as follows:
- Harvard Business School: 146,880 USD
- University of Pennsylvania-Wharton: 162,756 USD
- Stanford Graduate School of Business: 149,412 USD
- MIT-Sloan: 154,336 USD
- Columbia Business School: 154,752 USD
- University of Chicago-Booth: 144,000 USD
- Northwestern University-Kellogg: 174,692 USD
- UC Berkeley: 129,304 USD
- Yale School of Management: 149,400 USD
- Dartmouth College: 155,040 USD
Why MBA from the USA?
There are a huge number of countries providing MBA but the USA is different from others. Do you want to know the reason? Here are the possible answers:
- The USA has 50+ top Business schools as both FT rankings and QS Rankings.
- Another reason, the USA offers a very high salary job on the completion of an MBA degree.
- 91% of the world’s recruiters prefer hiring USA’s MBA graduates at various positions.
Types of MBA Programs:
MBA programs from the USA are flexible. Too many options are available keeping in mind several factors such as career objectives, amount of time spent on the completion of the course, admission prerequisites, and cost of attendance. Check the types of MBA below:
- Full-time MBA
- Part-time MBA
- Online MBA
- Executive MBA
- Early Career MBA
- Global MBA
- Certificate Program
Top Specializations for MBA:
Several specializations are available for doing MBA and you can choose the best from the available options:
- Consulting
- Finance
- Information Management
- Marketing
- Operations Management
- Technology
- Entrepreneurship
Applications to Study MBA:
Most of the business schools in the USA demand applications to appear in the standardized tests to prove their eligibility. Thus, it is not easy for international students to pursue the course. The application process includes three different stages:
- Stage 1: Pre-Application: This is the first step in which candidates will give the standardized test and collect all the crucial documents
- Stage 2: Application: This step involves the submission of the completed application and uploading of the admission prerequisites
- Stage 3: Post-application: In the last stage, candidates will submit the other necessary documents and fees to secure the seat after acceptance.
The maximum number of B-schools in the USA segregates the application process in several rounds till the application fulfills the requirements. Thus, candidates need to keep the track of the deadlines for carrying out the hassle-free application process.
- Applicants will be called for the admission interview after meeting the admission prerequisite.
- With the admission interview, it will be easy for the admission committee to decide on the candidate’s admission based on their competency.
Eligibility Criteria:
The eligibility criteria for studying MBA in the USA involve certain eligibility criteria and here the list is:
- Students must have completed 16 years of education to pursue MBA in the USA. This denotes that candidate must have completed 10+2+4 education or completed a four-year bachelor’s program.
- The candidate must have scored well on the GMAT test. However, some universities may accept GRE equivalents.
- Non-native English-speaking candidates need to submit proof of language proficiency. In this regard, they can submit the scores of IELTS and TOEFL for pursuing studies abroad.
- Minimum TOEFL score accepted: 100 and IELTS: 6.5
- Candidate must have work experience of 3 years at least. However, this duration varies from university to university and the type of MBA program chosen.
University-Specific Eligibility Criteria:
- MBA at Harvard Business School: the academic requirement should be 3.70 (average) The language Proficiency should be TOEFL: 109, IELTS: 7.5, and PTE: 75
- MBA at Sloan School of Management: the academic requirement should be 3.60 (average). The language Proficiency need to be 90 in TOEFL, IELTS: 7.0
- MBA at Kellogg School of Management: the academic requirement should be 3.60 (average). The language Proficiency need to be TOEFL: 110 whereas IELTS: 7.5
- MBA at Stanford Graduate School of Business: the academic requirement should be 3.70 (average). The language Proficiency should be TOEFL: 100, IELTS: 7.0, and PTE: 68
- MBA at Wharton: the academic requirement should be 3.60 (average). The language Proficiency need to be TOEFL: 110 but IELTS Not accepted
- MBA at Yale School of Management: the academic requirement should be 3.60 (average). English language proficiency is not required but the verbal score of GRE/GMAT is required.
- MBA at Columbia Business School: the academic requirement should be 3.6 (average) The English language proficiency is not required however a verbal score of GRE/GMAT is needed.
GMAT Requirements:
Many B-Schools in the USA require GMAT scores and here are the scores required by some of the reputed B-schools:
- Harvard Business School: 730
- Stanford Graduate School of Business: 734
- The Wharton School: 732
- Sloan School of Management: 730
- Kellogg School of Management: 730
- Yale School of Management: 720
- Columbia Business School: 727
MBA without GMAT:
You will be surprised to know that some of the B Schools do not require GMAT scores for MBA in the USA. The list of six popular MBA programs where GMAT scores are not required are as follows:
- Sawyer Business School offers an Executive MBA where Minimum 7 years of work experience is enough for admission
- Hult International Business School provides 1-year MBA course for which user needs Hult Business Assessment Test
- Alfred Learner College of Business & Economics proffers MBA where GPA- 2.8 (83% or B grade) in UG with upper-level maths course is a requirement. Along with this, there is a requirement of a minimum of 4 years of experience
- College of Business at Florida International University provides a professional MBA for which a candidate should have a minimum of 4 years of experience. For this college, GMAT not required but it can strengthen your application
- Kellogg School of Management provides an Executive MBA course. In this college GMAT is required, if the application causes a problem as per the admissions committee
- Marshall School of Business provides an Executive MBA course for which GMAT is not necessary but it can strengthen your application
Documents Required for Admission:
The following documents required for admission to the MBA program in the USA:
- The scanned copy of all the transcripts from the schools you have last attended in the English language.
- Scores of exams required to study in the USA submitted to applying business schools from the testing agency.
- Two academic and one professional letter of recommendation but some universities may demand only two LORs.
- An updated CV consisted of your overall work experience and skills
- A Cover Letter
- Statement of Purpose/Intent may be required by some universities.
Cost of Study:
Check the cost of studying MBA in the USA below:
Pre-Arrival Expenses (in USD)
- Visa Application Cost: 510
- IELTS fee 240
- TOEFL fee 200
- GRE fee 190
- SEVIS fee: 180 for J-Visa, and 200 for F-Visa
MBA Cost in the USA for Indians:
The approximate MBA cost from the reputed university of the USA ranges between 45,000 (32.9 Lakhs INR) and 80,000 USD (58.5 Lakhs INR) for one year. However, an MBA degree from the top-10 Business schools may cost around 87.7 Lakhs INR (120,000 USD).
Cost of Living:
The expenses incurred on living for an international candidate depend on the choice of lifestyle one chooses. Here is the cost of living in USD:
- Accommodation: 1000 (On-Campus), 600-800 (Off-Campus)
- Meals: 120-160
- Transportation :100-300
- Personal Expenditures: 300-600
- Health Insurance: 450-700
Jobs in USA After completing MBA:
Check the salaries (in USD) offered by top recruiters in the US for MBA graduates below:
- McKinsey & Co.: 160,000
- EY: 104,000
- Bain & Co.: 145,000
- JP Morgan: 125,000
- Amazon: 121,000
- Apple: 135,000
- Goldman & Sachs: 125,000
- Deloitte: 94,000
- KPMG: 96,000
Popular Job Profiles After MBA:
Here are some of the popular jobs after completing the MBA program from the USA ad estimated salary in USA:
- Assistant B.D. Manager: 99,000
- Business Development (B.D.) Manager: 128,000
- Project Manager: 106,000
- Manager: 144,000
- General Manager: 128,000