Why study an MBA in the USA

The US is known for being home to the world’s most sought-after business schools offering state-of-the-art facilities, academic excellence, and promising career opportunities to help MBA aspirants make the most out of their studies. Some of the main reasons why studying MBA in the US is worth it include: 

• Industry experience: US institutions emphasise on experiential learning via internships/ co-ops and various training programs providing with an opportunity to interact with industry leaders to prepare their students for future industry challenges 

• Excellent career opportunities: Most of the Fortune 500 companies have their headquarters based in the US which increases the chance of getting selected in a reputed firm. Also, the nature of the jobs is more pivotal and includes leadership-oriented activities for key decision-making positions

• First choice of MBA aspirants: As per the US Department of Education, the US is the largest MBA market in the world with more than 1,25,000 MBA candidates graduating annually

 

 

MBA in USA top universities

According to the QS World University Ranking 2022 based on academic reputation and employer reputation, here are the top universities for pursuing a 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	North Western 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

 

MBA Specializations in USA

International students can pursue a Master of Business Administration program in over 10 specializations. We have below the list of popular MBA specializations in USA for international students:

• MBA in General Management
• MBA in Finance
• MBA in Marketing
• MBA in Accounting 
• MBA in Entrepreneurship
• 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 eligibility requirement for pursuing MBA varies from institution to institution. However, the basic criteria remain the same:

• A minimum of 16 years of education i.e., four-years of an undergraduate degree must be completed after school. However, some universities also accept 15 years of education

• Test scores of your English language proficiency test such as IELTS 

• Test scores of GMAT or GRE with a minimum score of 600 or 300+ respectively 

• A minimum of two to three years of work experience for some institutions

Note: Many US institutions do consider candidates with no work experience, however, students with work experience are always at a vantage point. 

MBA intakes in the USA 

Unlike a single intake in Indian universities, American colleges and universities offer three intakes. In some universities, intakes may also be referred to as a semester. The three intakes available in the US are: 

1. Fall: A popular intake among Indian students, Fall starts in the month of August 

2. Spring: Starts in January; it’s best if you miss the September intake 

3. Summer: Available for limited programs and colleges, the summer intake usually starts around May 

Read more 

Test scores required for admission to MBA in the USA

1. GRE 
   he graduate record examination (GRE) is designed to test broad comprehension and knowledge as it is a great opportunity for applicants to show off their superior abilities in interpreting speech and writing. Several colleges accept applicants with a GRE score (in addition to or instead of GMAT) and most institutions only take applicants who have previously submitted their GRE or GMAT results to meet the requirements.  Each university has different criteria set for GRE scores. You will have to check with your institute or the IDP expert for it Many colleges and universities will accept the GRE instead of the GMAT.

2. IELTS 
   It is especially important for applicants who are international students to pass the International English language testing system test to move on with their procedure. You must score a band score of 6.5 or higher in both the paper-based and computer-based IELTS tests. ): For US universities, the average IELTS band requirement is 6.5. This test lasts 2 hours and 45 minutes in total. 

3. GMAT  
   |The GMAT (graduate management admission test) minimum score for an MBA in the US is 500.  But most US universities need a minimum GMAT score of 650. The GMAT exam gauges a candidate’s potential for success. The purpose of the GMAT is to evaluate your verbal, numerical, cognitive, and analytical skills. 

4. GPA  
   Your GPA may affect whether you are accepted or rejected if you want to apply for admission to any MBA programme. If you are still in college, you should aim to get a GPA of 3.6 and a minimum B+ grade point average to graduate. Don’t worry if your GPA is below average, the score you received on the graduation exam report will probably be of great help. 

Documents required for MBA in the USA

Most universities in the USA require the below-mentioned documents for admission to an MBA course:

• Bachelor’s degree from a recognised university or institution

• Resume (CV)

• Recommendation letter

• IELTS test

• GMAT 

• Statement of purpose 

 

Cost of studying MBA in the US in Indian rupees

MBA programs in most countries can be quite expensive. In the US, the average cost for these programs is approx. $35,000 yearly and which is 28 lakhs approx for Indian students. 

 

Read more: Cost of studying in the US 

MBA fees and cost of living in the USA for Indian students

The average cost of an MBA in the USA is between $1,60,000 and $1,80,000 per year including the course fees which range from 60,000 to 80,000 USD per annum along with the living expense which costs around 8,000 USD to 10,000 USD per month.

It is significant to note that the cost of an MBA in the USA for an Indian student strongly relates to their selected university and lifestyle. 

MBA in the USA with Scholarships

 

Universities	Scholarship	Awards
Harvard business school	Horace W. Goldsmith fellowship	10,000 USD
Wharton School	Joseph Wharton fellowship	20,000 USD
MIT Sloan	McKinsey award	10,000 USD
Columbia business school	Columbia fellows programme	Full or partial tuition fee waiver
Kellogg school of management	Kellogg scholarship	7,000 USD

Read more: Scholarships to study in the US

Career prospects for MBA graduates

Irrespective of the business conditions experienced by an economy, the demand for MBA graduates remains the same. Besides, graduates with proficient business skills can prove their talent in the:

• Consulting: Consulting firms compete fiercely for MBA graduates that ultimately drive their salaries upward. Factually, the three reputed consulting firms i.e., McKinsey, Bain, and BCG offer a base salary of $1,65,000, but by industry standards, the average salary for MBA graduates in management consulting jobs is close to $1,04,000

• Finance: After consulting, this is the most sought-after field where a graduate can work as a Financial Consultant, Finance Manager, Financial Analyst, or Finance Director and earn an average salary of $98,000 approximately

• Technology: MBA graduates with a specialisation in technology can earn the highest average salary by industry at $1,12,000 approximately. While Chief Information Officers (CIOs) are offered an attractive package close to £2,02,000, product managers can earn an average salary of $1,01,000 and senior data analysts earn $87,000 

• Marketing: MBA graduates with specialisation in marketing earn between $57,000 to $1,62,000, for positions ranging from a Marketing Specialist to a Vice President. Broadly, Senior Marketing Managers, Marketing Directors, and Senior Product Managers may earn $1,08,000, $1,12,000, and $1,22,000 respectively

*Source: https://www.businessbecause.com/news/mba-jobs/6951/average-mba-salary

MBA is the perfect degree if you want to go for a leadership position. In the degree, you learn practical skills in management, leadership, and communication with specialised coursework. Besides, US business schools have a well-designed MBA program combined with ample experiential training and earning opportunities while studying. 

In short, an MBA degree from a well-reputed US business school can be your golden ticket to getting employed in highly competitive Silicon Valley tech companies or the Wall Street finance industry.

Work permit after MBA in the USA

It is challenging for overseas students to leave the United States after graduating due to the vibrant environment, rich culture, and numerous chances. You will be able to quickly obtain a post-graduate work visa thanks to the US government's student-friendly policies. If you have a valid F1 visa, you can remain in the USA. 

You can take advantage of chances for temporary employment under the OPT (Optional Practical Training) or CPT (curricular practical training) programme. Students can take up to 3 years of stay-back terms if they enrol in a STEM programme that includes courses in Computer Science, Engineering, and Business Management.

The USA is one of the few countries where students aspire to pursue higher education because of its outstanding innovation, substantial research, top-notch education, and widely recognised degrees.

Documents required for OPT and CPT 

Here is the list of required documents to apply for OPT and CPT

OPT (optional practical training)

• I-765 (original)

• 2 passport-size photographs

• Printout of the I-94

• Copies of all the 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

CPT (Optional practical training) 

• Academic recommendation form

• I-20 present copy

• Electronic form I-94 printout

• CPT online workshop completion certificate

• Training certificate from your employer