MBA in USA: Top Universities, Eligibility, Fees & Jobs

Jaya, an ambitious young professional from India, steps into the bustling campus of a prestigious American business school. From intense classroom discussions to networking events with industry leaders, her days were filled with opportunities to grow and learn. She thrived in a multicultural environment, developing her business acumen and global perspective while pursuing MBA in the USA.

She navigated through rigorous coursework, innovative projects, and dynamic internships. Her experience epitomized the essence of pursuing an MBA in the USA for Indian students – a blend of academic excellence, diverse experiences, and unparalleled career prospects.

Just like her, if you are seeking a global exposure with an MBA in the USA, then choosing the right B-school is paramount.

Learn about the average MBA fees in the USA, top MBA universities in the USA, costs involved & more with us.

Trivia: Poets&Quants analyzed data from the U.S. News & World Report's annual ranking of the top US B-schools – 27 of 36 top US B-schools report 20% or more Indian students. 

 

MBA in USA Highlights

Number of B-Schools	500+ colleges
MBA Specialization	MBA in Marketing, MBA in General Management, MBA in Finance, MBA in Human Resource Management
Admission Requirements	Average GPA- 3.4 TOEFL iBT Score- 70 Average 5 years of Work Experience
Average Tuition Fees	USD 73,472.70
Average Salary	USD 86,020
Top Recruiters	Google, HCL, Amazon, Deloitte among others

Why Study MBA in USA

1. Prestigious Institutions and High-Quality Education

The USA is home to some of the world’s top business schools, including Stanford, Harvard, and Wharton, with 5 of the top 10 programs globally according to the 2024 QS Global MBA Rankings. These institutions offer rigorous academic programs and are renowned for their distinguished faculty and cutting-edge research.

2. Career Advancement & High Earning Potential

Graduates from top US business schools often see significant salary increases. For example, Harvard MBA graduates earn an annual average of $210,000 three years post-graduation. Graduate Management Admission Council (GMAC) reports that the median base salary (annual) for new MBA hires in the US is $115,000 in 2023, far higher than for those with only a bachelor’s degree.

3. Post-Graduation Work Opportunities

International students can work in the USA for up to 12 months under the OPT program, which is extendable to 36 months for STEM graduates. This offers immersive learning opportunities to international students.

4. Networking Opportunities

US business schools have extensive and influential alumni networks. Wharton's network, for instance, includes over 100,000 members globally. According to a GMAC survey, 88% of MBA alumni from US schools found their alumni network helpful in advancing their careers.

5. Diverse Specializations and Flexibility

Many US MBA programs offer a wide range of specializations. For example, Stanford provides finance, marketing, and social innovation pathways. The Association to Advance Collegiate Schools of Business (AACSB) reports that 92% of US business schools offer multiple MBA concentrations, allowing students to tailor their education to specific career goals.

6. Entrepreneurial Ecosystem

The USA is home to a vast number of venture capital firms, angel investors, and crowdfunding platforms. Also, US B-schools often have dedicated entrepreneurship centers. For instance, the Harvard Innovation Labs (i-lab) and MIT's Martin Trust Center for MIT Entrepreneurship provide resources and mentorship for students to develop their business ideas.

7. Access to Cutting-Edge Technology & Resources

US business schools are well-funded and equipped with state-of-the-art facilities. For instance, MIT Sloan benefits from MIT’s extensive tech resources. The National Center for Education Statistics (NCES) shows that US institutions spent over $83 billion on research and development in 2022, greatly benefiting business schools.

8. Internship & Practical Experience

US MBA programs typically include mandatory internships. At Harvard, 100% of MBA students complete a summer internship. A 2023 GMAC survey (Enrolled Students Survey) indicated that 80% of MBA graduates from US programs felt their internship experience significantly enhanced their employability.

9. Cultural Diversity and Global Perspective

US MBA programs attract a diverse student body, enhancing the learning environment. At Columbia Business School, 44% of the Class of 2023 is international. The IIE reports over 200,000 international students enrolled in US business programs in 2022-2023.

10. Comprehensive Curriculum

US MBA curricula are comprehensive and dynamic, covering core business disciplines and electives. Schools like Kellogg and Tuck have restructured their programs to meet market demands, with the AACSB noting that 89% of US business schools have updated their curricula in the past five years.

11. Strong Emphasis on Soft Skills

US MBA programs emphasize leadership development and soft skills. Stanford’s MBA program, for instance, includes leadership labs and personalized coaching. A GMAC survey reveals that 94% of employers highly value teamwork and communication skills in MBA graduates.

Also Read:- Why Study in USA: Top 14 Reasons

Types of MBA in the USA

Full-Time MBA

A full-time MBA program is a two-year classroom program. In the first year, you will have exposure to business subjects. In the second year, the students need to take up one or two majors or specializations based on their grades or interests.

Moreover, the first year will be common for all, but the classes will be divided as per the specialization in the second year. In the second year, students will have to do various training and internships with different brands. A full-time MBA program is meant for regular students. 

Part-Time MBA

A part-time MBA is for individuals who are already employed and working. They take classes only on the weekends. Hence, the course duration may exceed from two to four years. 

Executive MBA

This course is designed for senior positions like managers. It focuses on leadership, monitoring, teamwork, and communication skills. Companies organize executive MBA programs for existing employees or management officials to help them upskill. 

Online MBA

Online MBA is done through the digital mode of study. There are no fixed tenure and timings for the classes. Students can take the course from different countries without being physically present. 

Top MBA Specializations in USA 

Specializations	Description
MBA in General Management	An MBA in General Management not only gives you a chance to build your general management skills but also covers different aspects such as operations, digitalization, and people management.
MBA in Marketing	If you are looking to make an appealing career in marketing, then an MBA in Marketing is an ideal choice that fortifies the knowledge of the aspirant on topics like massive data, consumer behavior, marketing analytics, pricing strategy, and brand management.
MBA in Consulting	An MBA in Consulting helps you develop a fair understanding of business operations and people management.
MBA in Entrepreneurship	Students wishing to establish themselves as an entrepreneur can opt for this specialization.
MBA in Operations Management	This specialization focuses on planning, handling, and managing production to produce efficient results.

Top Universities/Colleges for MBA in USA

As discussed, there are several prestigious B-schools in the US. Let us check out some of the globally ranked top MBA colleges in the USA for Indian students: -

University/ School	QS Global MBA Ranking 2024	Eligibility Criteria
Stanford Graduate School of Business	1	A bachelor’s degree or its equivalent from an accredited institution GMAT/GRE test scores English language proficiency test scores (TOEFL) Updated resume Statement of Purpose Three recommendation letters
Wharton School of Business	2	A bachelor’s degree or its equivalent from an accredited institution  GRE/GMAT scores English language proficiency test scores (TOEFL or PTE)  Educational transcripts Two essays  Two recommendation letters  Updated resume
Harvard Business School	3	Minimum four-year bachelor’s degree or its equivalent from an accredited institution  GMAT/GRE test scores  English language proficiency test scores (if your undergraduate program’s MOI was not English) IELTS: 7.5  TOEFL: 109 PTE: 75 Educational transcripts  Two recommendation letters Updated Resume
MIT Sloan School of Management	4	A bachelor’s degree or its equivalent from an accredited institution GRE/GMAT scores  Educational transcripts  English language proficiency test scores  IELTS: 7 TOEFL: 577 PBT/90 IBT Three recommendation letters Updated Resume
Columbia Business School	5	A bachelor’s degree or its equivalent from an accredited institution GRE/GMAT scores  Essays  Updated Resume  Recommendation Letter  IELTS: 7.5  TOEFL: 105 Duolingo English Test: 125
The University of California, Berkeley (Haas)	7	Minimum four-year bachelor’s degree or its equivalent from an accredited institution GRE/GMAT scores  English language proficiency test scores IELTS: 6.5 TOEFL: 80 Duolingo English Test: 115
UCLA Anderson School of Management	9	A four-year bachelor’s degree or its equivalent from an accredited institution GRE/GMAT scores  Educational transcripts  English language proficiency test scores  IELTS: 7.0  TOEFL: 560  Two recommendation letters  Essay
Yale School of Management	10	A four-year bachelor’s degree or its equivalent from an accredited institution GRE/GMAT scores  Educational transcripts  Two recommendation letters  Two essays  Updated Resume

Data Source:- QS Global MBA Ranking 2024

Detailed Analysis of Some of the Top Universities in USA for MBA

1. Stanford University 

• GMAT Score Eligibility: 750 or higher
• GRE Score Eligibility: Verbal = 164, Quantitative = 165
• Minimum IELTS Score: 7
• Tuition Fees for MBA Program: $82,455
• Employment Rate: 89%
• Top Specialization: Entrepreneurship, Management, Finance, Accounting
• Acceptance Rate: 4%

2. University of Pennsylvania (Wharton)

• GMAT Score Eligibility: 728 or higher
• GRE Score Eligibility: Verbal = 162, Quantitative = 162
• Minimum IELTS Score: 7
• Tuition Fees for Management Program: $79,800
• Employment Rate: 83.9% employed at graduation
• Top Specialization: Accounting, Business Analytics, Entrepreneurship
• Acceptance Rate: 31%

3. Harvard University

• GMAT Score Eligibility: There is no minimum requirement
• GRE Score Eligibility: There is no minimum requirement
• Minimum IELTS Score: 7
• Tuition Fees for Business School: $76,410
• Employment Rate: 80% of the applicants accepted the job offer
• Top Specialization: Management, International Relations, Entrepreneurship
• Acceptance Rate: 3%

4. University of Chicago (Booth)

• GMAT Score Eligibility: There is no minimum requirement
• GRE Score Eligibility: There is no minimum requirement
• Minimum IELTS Score: There is no minimum requirement
• Tuition Fees for MBA Program: $84,198
• Employment Rate: 96.4%
• Top Specialization: Finance, Management, Executive MBA
• Acceptance Rate: 36%

5. Columbia Business School

• GMAT Score Eligibility: Submit a self-reported valid GMAT score
• GRE Score Eligibility: Submit a self-reported valid GMAT score
• Minimum IELTS Score: Scorecard accepted
• Tuition Fees for MBA Program: $84,496
• Employment Rate: 91.2%
• Top Specialization: Real Estate, Finance, International Relations
• Acceptance Rate: 4%

6. University of California (Berkeley)

• GMAT Score Eligibility: 710 to 750
• GRE Score Eligibility: Verbal = 159 to 168, Quantitative = 159
• Minimum IELTS Score: 6.5
• Tuition Fees for School of Business: $42,236 in-state, $40,036 out-of-state
• Employment Rate: 98.70%
• Top Specialization: Economics, Space Sciences, Computer Sciences
• Acceptance Rate: 11%

7. Northwestern University (Kellogg)

• GMAT Score Eligibility: 724 or higher
• GRE Score Eligibility: Verbal = 160, Quantitative = 154
• Minimum IELTS Score: 7
• Tuition Fees for School of Business: $231,174
• Employment Rate: 74% in various fields like consultancy and finance services
• Top Specialization: Accounting, Finance, Economics
• Acceptance Rate: 33.3%

8. Yale School of Management

• GMAT Score Eligibility: No minimum GMAT score is required to apply to Yale
• GRE Score Eligibility: No minimum GRE score is required to apply to Yale
• Minimum IELTS Score: 7 or higher
• Tuition Fees for School of Management: $85,400
• Employment Rate: 96.1%
• Top Specialization: Social Sciences, Biological and Biomedical Sciences, Computer and Information Sciences
• Acceptance Rate: 5%

Business Schools Waiving GMAT Scores in 2024

Business School	Eligibility Criteria for GMAT Waiver
University of Michigan- Ross School of Business	Candidates having at least eight years of professional post-college job experience may use the Executive Assessment (EA) instead of the GMAT or GRE.
Georgetown University- McDonough School of Business	MIM applicants having a GPA of 3.2 or above are eligible for a GMAT waiver.
UNC Kenan-Flager Business School	Applicants having a GPA of 3.2 or above in a Business, Economics, Analytics or STEM fields Earned an advanced degree in MD,  JD or a PhD or MS degree within a business economics or STEM field.  CPA, CFA, or international equivalent More than five years of professional experience in a quantitative or analytical field
Cornell University	Candidates who have demonstrated analytical and/or quantitative abilities via their work experience, academics, etc.
Kelley School of Business	Undergraduate or graduate academic record Work experience related to analytical and quantitative fields.

Intake for MBA in USA

There are majorly three admission intakes in the USA:-

• Spring Intake
• Fall Intake
• Summer Intake 

However, the major semesters are Fall and Spring and a few colleges offer summer intakes.

How to Get Admission to MBA in USA

Start by researching various MBA programs to find the ones that align with your career goals, preferred location, and other personal preferences. Post that, you should check the admission requirements of the university. Also, pass standardized and language proficiency tests. Some of the common ones are listed in the next section. 

Exams and Their Test Scores Requirement for MBA in USA

Standard examinations for MBA in USA	GRE and GMAT
English Language Proficiency Tests	IELTS and TOEFL

Admission Requirements for MBA in USA

The admissions requirements for MBA in USA for international students can vary from university to university. However, some of the common admission requirements are listed below. 

• Average GPA - 3.4
• TOEFL iBT Score - 70
• Average 4 years of Work Experience

Eligibility for MBA in USA

• A bachelor's degree from an accredited institution.
• Applicants must submit scores from either the GMAT or GRE, depending on their field of study.
• MBA in USA eligibility also includes English proficiency test scores.

Documentation Needed for MBA in USA

Students need to produce all kinds of necessary documents to process admission in the USA. Here are some of the most important documents for admission in MBA programs:-

All past academic qualifications and transcripts. It includes high school, graduation, post-graduation, and all relevant certificates. 

• Minimum two Letters of Recommendation (LORs) from faculty or past employers
• Updated copies of resume 
• Statement of Purpose
• USA study visa
• TOEFL or IELTS test scores
• GRE or GMAT scores
• Work experience certificate
• Passport-size photographs 

Visa Requirements for MBA in USA 

For academic purposes, students are granted an F-1 student visa that allows them to pursue degree programs at both graduate and undergraduate levels. The student must obtain the I-20 form from the enrolled university, and they can work part-time jobs while studying in the US. Only 20 hours per week is permissible for working on campus.

• List of documents required to apply for visa:
• Recent passport size photograph
• A valid passport
• DS-160 confirmation page with barcode
• Visa application fee receipts
• VFS appointment letter
• SEVIS receipt and I-120

Also Read:- Requirements for Studying in USA

Cost of MBA in USA

The cost of pursuing an MBA in USA for international students  would vary from B-school to B-school and the type of MBA they choose to pursue. Here is an average that can help you to make a choice.

The types of MBA courses spread across USA universities are:-

MBA Courses	Lowest Average Fees (Per Year)
Full-Time MBA	$73,000
Part-Time MBA	$13,000
Online MBA	$10,000
Executive MBA	$89,000
Early Career MBA	$26,000

MBA Fees in USA for Indian students

For Indian students, getting an MBA from the USA is a dream. However, on average, an MBA in the USA costs around 70 lakhs a year. It is just the fee, and you will have to pay seven-eight lakhs for the living cost too. It can be difficult to manage for many deserving students. 

Taking note of this, we have listed down the cheapest MBA colleges in the USA for Indian students. The average tuition fees of these range from USD 12,000- USD 22,000.

• University at Buffalo: USD 12,195 
• Lamar University: Less than USD 16,000 
• Iowa State University: USD 16,983 
• California Miramar University: USD 22,815 

Apart from managing the cost of studying, you would also have to manage cost of living in USA.

Also Read:- Cost of Studying in USA for Indian Students

Cost of Living in USA

Given below is the average cost of living in USA that should be considered while planning to study there:-

Eating out	$75
Groceries	$110.99
Transportation	$72
Utilities	$206.26
Mobile phone	$52.04
Internet	$71.09
Sports and Leisure	$84.46
Rent (1 bedroom)	$1768.43
Total	$2439.28

Source:- Numbeo

Cheapest MBA Options for Students

A few universities for an MBA in the USA provide relatively cheapest MBA in the USA for Indian students. It should be noted that these institutions don’t forego the quality and crux of imparting education to offer an affordable course structure.

University	Annual Tuition Fees
Bridgewater State University	$17,444
Jackson State University	$9,445
Worcester State University	$17,366
University of South Dakota	12,768
University of Central Arkansas	$17,258
California State University-Channel Islands	$7,144

Financial Aid and Scholarships for MBA in USA

To manage the cost of studying for an MBA in the USA, you can also look for scholarship options that will keep you covered. 

Scholarship Name	Description/ Benefits
Wharton Academic Excellence Scholarship	International students studying MBA at Wharton Business School and achieve the highest academic performance (GPA) during their second and third semesters qualify for it.  Amount/Benefit: $10,000
Dr. Bruce I. Jacobs Scholars in Quantitative Finance	MBA students at Wharton Business School with high GPA majoring in Quantitative Finance during their second year.  They must complete nine credits in the first year of their MBA.  Amount/ Benefit: $25,000
J. N. Tata Endowment Awards	One-time loan scholarship to Indians offered at the beginning of an academic year for full-time Ph.D./ postgraduate/ postdoctoral/ research fellowships studies, in all fields. Amount/ Benefit: $10,000
The International Peace Scholarship	It is a merit-based scholarship for female international students looking to study any course including MBA at UCLA Anderson School of Management.  Amount/ Benefit: $10,000

How to Study MBA in USA for Free

Pursuing an MBA in the USA can be a rewarding experience, and there are ways to minimize the financial burden. Many business schools across the US offer fully-funded scholarships for their MBA programs, fellowships, and assistantships. These programs aim to attract talented and diverse students who may need more financial means to pay for the program independently.

Here are some top MBA programs that offer total funding:-

1. Harvard University

The university of harvard will cover 100% of the finances if the student is qualified. The remaining is paid through a grant-based scholarship, which is not to be repaid.

2. Knight-Hennessy Scholars Program

The Knight-Hennessy Scholars Program at Stanford University is a highly competitive scholarship program that offers total funding for master’s degree programs in any field of study.

3. Yale Scholarship

The Yale Scholarship is a financial aid given to Yale undergraduates, fully- funded by the University itself, and is awarded purely based on economic necessity.

4. Wharton Scholarship

Various scholarships are based on different criteria awarded to candidates who want to pursue an MBA in the USA. To name a few scholarships that are fully funded are:-

• Prism Scholarship
• Emerging Economy fellowship
• Forte fellowship

Work Permit after MBA in USA

After completing an MBA in the USA, international students become eligible for Optional Practical Training (OPT). Here are the key details:-

OPT Duration

MBA graduates can stay and work in the USA for 12 months under OPT. Optional Practical Training (OPT) provides temporary employment authorization for F-1 students in degree programs. It allows them to gain practical job experience directly related to their major field. F-1 students can avail 12 months of OPT for each educational degree level (e.g., bachelor's, master's, doctorate). However, students in non-degree programs are not eligible for any form of off-campus work authorization.

Documents Required for OPT and CPT

When applying for OPT or Curricular Practical Training (CPT), you’ll need the following documents:-

• Form I-20: This is issued by your Designated School Official (DSO) and confirms your eligibility for CPT or OPT.
• Form I-765 (Application for Employment Authorization): CPT and OPT applications are required.
• Passport: Valid passport with a valid F1 visa.
• I-94 Arrival/Departure Record: Printout of your electronic I-94 record.
• Photographs: Passport-sized photos meeting USCIS requirements.
• Application Fee: Payment for the I-765 form.
• Academic Advisor’s Recommendation Letter: Your academic advisor must recommend the training for CPT.
• Employment Offer Letter: For CPT, you’ll need an offer letter from your employer.
• Proof of Enrollment: Evidence that you’re a full-time student.
• SEVIS Fee Receipt: Proof of payment for the SEVIS fee.

Also Read:- How to Settle in USA from India

Job Opportunities after the MBA program in the USA

According to the Corporate Recruiters Survey of 2020, MBA graduates in the USA are paid around 115,000 USD to 145,000 USD per annum. Listed below are some of the available jobs after an MBA in the USA:-

• Operations Manager
• Project Manager
• IT Manager
• Executive Director
• System Engineer
• Human Resource Manager
• Sales Manager
• IT Consultants
• Chief Financial Officer
• Business Development Director
• Senior IT Manager
• Account Manager
• Accounting Manager
• Finance Manager
• Financial Analyst
• HR Director
• Data Analyst
• Sr Product Manager
• Business Development Manager
• Office Manager
• Marketing Manager
• Management Consultant

Conclusion

In conclusion, pursuing an MBA in the USA unlocks a world of unparalleled opportunities for career growth and personal development. With a rigorous curriculum and a diverse, dynamic cohort, you'll gain invaluable skills and networks that position you for global success.

An MBA in the USA isn't just an academic achievement-it's a transformative journey that opens doors to limitless possibilities. Invest in your future and watch as new horizons unfold before you.