USA is one of the top destinations for Indian and international students to pursue an MBA. Its homeland to some of the best MBA programs in Harvard Business School, Stanford GSB, Northwestern Kellogg, MIT Sloan, and many more. And that is not all. Getting your MBA in USA can be rewarding in terms of the learning experience, post-MBA careers, and cultural experience.
In recent times the domestic applications have seen a decline in the USA. However, the STEM- certified MBA programs are more likely to see international applicant growth as it comes with an additional 24 months OPT.
According to GMAC Prospective Survey 2019, 2 in 3 international candidates plan to apply to a US program (65%), making it the most popular destination.
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In this article, we look at why you should pursue an MBA in USA, the best MBA programs to target, salary, cost, scholarships, and visa requirements.
MBA in USA
Getting an MBA can lead to career transformation and open up opportunities for career growth. According to the GMAC Application Trends survey 2019, 50% of international candidates apply to the United States because it allows them to get a US job.
Apart from the career prospect, most of the top business schools are located there, and getting an MBA from top b-schools can pave the way to various opportunities. For example, if you get an MBA from the Wharton School of Business, where the acceptance rate is 19.2%, potential employers will know how difficult it is to get an admission there.
Besides, the brand value for the best MBA programs in 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.
Here are six reasons that make MBA in USA an attractive study destination:
- Best MBA Programs are in the USA
- MBA Scholarships and Financial Aid
- MBA Salary in USA
- Visa Requirements
- STEM Programs
- Multicultural Environment
Let us discuss each point in detail.
Best MBA Programs in USA 2020
Some of the top business schools in the world are located in the United States. 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.
Learn how to choose between a one-year vs. two year MBA program.
Here are the best MBA programs in USA 2020:
Best MBA Programs in USA – Full-Time MBA
MBA programs in USA
|Wharton School of Business||$223,390||732|
|Kellogg School of Management||$211220||730|
|Booth School of Business||$220576||730|
|MIT Sloan School of Management||$237,636||727|
|Harvard Business School||$225,204||695|
|UC Berkeley (Haas)||$103,068||725|
|Columbia Business School||$228,438||727|
|Yale School of Management||$211,600||720|
Did you know the average GMAT score of the top 50 business schools in the USA is 703.
|Best One-year MBA Programs USA||MBA Cost|
|Kellogg Accelerated MBA||$140,366|
|Duke Fuqua Accelerated MBA||$114,165|
|Notre Dame (Mendoza)||$81,242|
|USC Marshall (I-Bear)||$124,715|
|NYU Stern Tech MBA||$149,101|
|Babson College One-Year||$128,761|
|University of Pittsburgh||$52,845|
|Peeperdine Graziadio Business School
Read in detail about the Best MBA programs in USA for one year.
Here is a list of articles on Best MBA programs in various specializations. Most of the colleges are located in the US:
- Human Resource
- Business Analytics
- Supply Chain Management
MBA in USA – Scholarships and Financial Aid
One of the reasons why non-US citizens avoid studying in the United States is because of the MBA cost involved.
Around 66% of prospective students agree that tuition cost prevents them from pursuing an MBA in the USA; 57 % agree on the cost of living. The MBA cost in USA is one of the major challenges that students face. However, there are multiple means to finance your education through fellowships, scholarships, assistantships, and education loans.
The same report also points out that around 33% of students choose the United States because of the availability of financial aid. Here is the data on candidates who prefer to study internationally based on the availability of financial assistance:
For example, the average scholarship amount for the Harvard MBA is $40,000 per year. Also, the Harvard MBA scholarship is a gift that does not need to be paid back, and nearly 50% of the class receives it.
Leave more about how to get a Harvard MBA Scholarship.
In general, most of the best MBA programs in the USA offer merit-based scholarships. Apart from that, targeted scholarships like diversity scholarships are also provided by business schools.
Here is an article that covers the list of scholarships available for Indian and International students at Top business schools.
Other Financial Aids available for Indian Students
According to Nishant, a Columbia Business School student, there are various funding opportunities available at Columbia. “Most of the Indian students that I know have scholarships, which can range from 20%-80%.” He also states that in terms of assistantships, opportunities are available where you can apply for a thesis assistant or teaching position. These options are well paid and can take care of your daily or rent expenses.
In addition, there are education loans that you can apply for in the USA. Here is an article on How you can get a student loan for an MBA in USA.
A high GMAT score can help you get a high scholarship amount. Here are some success stories of students who got an admit into the best MBA programs in the USA with scholarship:
- Kellogg Admit with Scholarship
- MBA Scholarship worth $180,000: Admit to Kellogg
- Admit from 5 business schools with Scholarships
Students can also get financial aid through fellowships. Here is an article on Stanford Reliance Dhirubhai Fellowship, where 3 Indians get 70 lakhs each to study at Stanford GSB MBA program.
MBA Salary in USA
As per the NACE Salary Survey, the average starting salary for MBA grads in the Class of 2020 will be $79,043 – more than $20,000 higher than the average starting salary projection for graduates with a bachelor’s degree in business.
Besides, this number can change drastically if you get into the best MBA programs in the USA. For example, the average base salary for Stanford MBA graduate 2019 is $152,503.
From the table below, the average base salary for the Best MBA programs in the USA is above 100K. Apart from the base salary, US companies tend to offer a signing bonus.
According to Corporate recruiters Survey 2019, more than half of US companies provide singing bonuses. The median signing bonus for an MBA in the USA is $10,500.
Business Schools in USA
MBA Salary in USA Average/Mean Base ( Class 2019)
|Wharton School of Business||$150,000|
|Kellogg School of Management||$125,606|
|Booth School of Business||$145,000|
|MIT Sloan School of Management||$140,000|
|Harvard Business School||$148,705|
|UC Berkeley (Haas)||$140,000|
|Columbia Business School||$150,000|
|Yale School of Management||$127,100 (2018)|
|UCLA (Anderson)||$106,955 (2018)|
Here is an article on how to get into top business schools.
Read Top companies to work for in 2020:
Additional Benefits post MBA in the USA
US companies are most likely to offer health coverage, retirement, and work/life balance. Here are some of the compensation benefits offered by US companies:
Here are a few articles related to MBA Salary that you might find useful:
- MBA Salary, Occupations, and Career prospects
- Factors affecting the Average MBA Salary 2020
- Average salary breakdown by Industry post-MBA.
- Post-MBA Consulting Salaries 2020
Aspiring to pursue your MBA from top business schools? A high GMAT score can set you apart from the competition. Start your GMAT Preparation with the most reviewed online GMAT prep company. Try out our FREE Trial Today!
MBA in USA: Visa Requirements
To pursue MBA in USA (full-time), you require an F-1 student visa, which allows you a 12 months Optional Training program (OPT). The program will enable you to work and stay in the united states for 12 months after your graduation.
You can even increase your OPT if you have STEM-certification for your degree. A STEM MBA graduate will be eligible for 36 months of OPT.
In the recent past, many MBA aspirants have decided against pursuing an MBA in the USA. This is because of the negative news around the H-1B visa.
However, the current sentiment regarding H-1B is bad for the IT outsourcing companies but excellent news for MBA students. It’s even better if you are aiming for the top 30 business schools in the United States.
Read these articles to have a better understanding of post-MBA visa in united states:
- New H-1B visa rules: 3 reasons to pursue an MBA in the USA
- F1 Student Visa
- Post-MBA Work Visa for International Students in the USA
STEM Programs at Best MBA programs in USA
STEM stands for Science, Technology, Engineering, and Math. In the recent past, many business schools have embraced STEM-designation.
As mentioned earlier, a STEM-certified MBA program offers 36 months OPT. Thus, you get to stay and work in the United States for an additional 24 months without an H-1B visa.
According to the GMAC application survey 2019, 44% of programs that were STEM certified reported an increase in international applicants.
The federal government in 2016 created the STEM-designated degree program to address the shortage of qualified workers in STEM fields that are estimated to grow more than a million jobs by 2024. Thus, a graduate with a STEM degree will have more opportunities in the US job market.
The below table mentions the STEM programs offered by best MBA programs in the USA:
|Business School||STEM MBA Certification|
|Columbia Business School||Entire Full-Time MBA program|
|Stanford GSB||Entire Full-Time MBA program|
|Harvard Business school||Management Science track in Full-time MBA|
|Michigan Ross||STEM-Designated Track|
|NYU Stern||Entire Full-Time MBA program|
|Yale SoM||STEM-MBA concentration|
|Dartmouth Tuck||Management Science and Quantitative Analysis|
|UNC Kenan-Flagler||STEM Concentration|
|Northwestern Kellogg||Management Science|
|Wharton School of Business||Majors in full-time MBA: Statistics, Actuarial science, Business Analytics; Business Economics & Public Policy; Business, Energy, Environment & Sustainability; Operations, Information, and Decisions|
|UC Berkeley Hass||MBA (All programs)|
|CMU Tepper||MBA (All programs)|
|Chicago Booth||Entire Full-Time MBA program|
|Simon Business School||MBA (All programs)|
|MIT Sloan||Entire Full-Time MBA program|
|Purdue – Krannert School of Management||MS Marketing, MS business analytics & information management, MS Finance, MS Global Supply chain management, MS Economics|
|Wisconsin School of Business||MBA in Operations and Technology Management, MBA in supply chain management|
|University of Massachusetts Dartmouth||MBA in Business Analytics|
|University of Notre Dame||MBA/MS in Business Analytics Dual degree|
|Tippie College of Business||Masters in Finance|
|Whitman School of Management||Masters in Finance|
|Darden Virginia||Specialization in Management science full-time MBA|
|Georgetown (McDonough)||Management science major in full-time MBA|
|Indiana Kelley||Five majors in Full-time MBA: Business analytics, finance, marketing, accounting, and supply chain management|
|UC-Davis||Entire Full-Time MBA program|
|Olin Business School||Entire Full-Time MBA program|
Multicultural Environment at the Best MBA Programs in USA
Diversity of cultures is celebrated broadly on university and college campuses across the United States.
The country is often described as a nation of immigrants, and the MBA colleges see great value in what an international student brings to the educational experience in terms of their languages, cultures, and tradition.
Best MBA programs in the USA are increasingly promoting culture and diversity.
For example, Stanford GSB states that it is committed to creating inclusive spaces for its members to learn with each other and celebrate the power of diversity. 43% of its incoming class of 2021 consists of international students.
The below table represents the percentage of international students for the best MBA programs in the USA:
MBA in USA
|Wharton School of Business||30%|
|Kellogg School of Management||32%|
|Booth School of Business||31%|
|MIT Sloan School of Management||41%|
|Harvard Business School||37%|
|UC Berkeley (Haas)||35%|
|Columbia Business School||47%|
|Yale School of Management||44%|
Here is a list of related articles on Top business schools in:
Did you know that a GMAT score of 730+ yields incremental $500K in ROI? Start your GMAT Preparation with the most reviewed online GMAT prep company. Try out our FREE Trial Today!
FAQs – MBA in USA
The MBA cost for top MBA programs in USA can range from $93,768 – $237,288.
Two predominant exams that aspirants need to undertake are GMAT and GRE.
Generally, a full-time MBA takes two years to complete. However, students can opt for a one-year program also.
The average GMAT score for the incoming class of 2021, at the top 20 business schools ranges between 687-734.