Best MBA Colleges in the USA: Unlocking Opportunities

Table of Contents

  1. Your Path to an MBA in the USA
  2. Top MBA Universities in the USA
  3. Admission Pre-requisites for MBA Universities in the USA
  4. Cost of Studying In The USA
  5. Scholarship Opportunities for International MBA Students in the USA
  6. Frequently Asked Questions

Were you aware that after engineering, the second most popular course among Indian students in the USA is an MBA? Many international students dream of studying for an MBA in the USA because of its top-notch education and abundant career prospects. 

Choosing a full-time MBA program equips students with essential skills for a changing global business landscape. The best part is students can customize their courses, study duration, and specialization to match their interests.

Unlocking Success: Your Path to an MBA in the United States

Number of MBA Universities in the USA

There are over 100 MBA universities in the USA, offering a diverse range of programs and specializations.

Cost of MBA Courses in the USA

The cost of pursuing an MBA in the USA can vary significantly. Annual tuition fees range from INR 20 lakh to over 40 lakh while living expenses typically fall between INR 14 lakh and 34 lakhs.

Top MBA Specializations

Prospective MBA students in the USA can choose from a wide array of specializations, including Finance, International Business, Entrepreneurship, Sales and marketing, Business Analytics, Human Resources, and more.

Entrance Exams Required

To gain admission to MBA programs in the USA, candidates generally need to take either the GMAT or GRE standardized tests.

Top MBA Universities in the USA

Below is the list provided of the top 10 MBA universities with their corresponding ranks

UniversityGlobal Rank
2023
Rank in the United States
2023
International Trade Rank
2023
Stanford Graduate School of Business
Stanford (CA), United States
#1#1#=7
Harvard Business School
Boston (MA), United States
#2#2#=16
Penn (Wharton)
Philadelphia (PA), United States
#3#3#101-110
MIT (Sloan)
Cambridge (MA), United States
#6#4#=16
Columbia Business School
New York (NY), United States
#8#5#=82
UC Berkeley (Haas)
Berkeley (CA), United States
#11#6#=36
Chicago (Booth)
Chicago (IL), United States
#13#7#=14
Northwestern (Kellogg)
Evanston (IL), United States
#14#8#11
UCLA (Anderson)
Los Angeles (CA), United States
#15#9#6
Yale School of Management
New Haven (CT), United States
#18#10#60

International Trade Rank:- This ranking is based on the following factors and  their respective scores:-

  • Innovative Teaching
  • Reputation
  • Research
  • Industry Engagement
  • Trade Programme Content
  • Program Delivery
  • Graduate Outcomes
  • Overall

Admission Pre-requisites for MBA Universities in the USA

To secure a spot in the foremost MBA institutions in the United States, you must satisfy a set of specific prerequisites.

  1. Bachelor’s Degree: A bachelor’s degree is the mandate
  1. GMAT/GRE Scores: You have to take the GMAT or GRE test and score well.
  1. English Language Skills: You must show that you’re good at English, which can be proven through tests like IELTS or TOEFL.
  1. Work Experience: Having worked for at least 2-3 years is usually required.
  1. Work Permit Required for That Country: After completing an MBA program, graduates in the USA typically apply for Optional Practical Training (OPT), which includes a one-year work permit and the opportunity for a stay-back permit.

When you apply for an MBA, remember to keep these things in mind. Also, note that not every MBA program will require the above prerequisites. Please check with your MBA program’s website for specific prerequisites and admissions criteria. 

The Cost of Studying In The USA

Tuition Fees:

Studying in the USA comes with a broad spectrum of tuition fees, influenced by the university, program, and location. On average, prestigious American colleges demand roughly $50,000 per year, with variations contingent upon your chosen field of study.

Living Expenses:

In addition to tuition, you must consider living expenses like accommodation, food, and transportation. These elements can substantially affect your overall financial plan.

Conclusion:

Understanding these financial components is vital for making an informed decision regarding your pursuit of higher education in the USA.

Below are some universities mentioned with their Avg. cost for tuition and Cost of living In US dollars and INR.

UniversityTution (Avg)Cost of Living (Avg)
Stanford University, Stanford$87,825/Yr (₹73L/Yr)$30,610/Yr (₹25.44L/Yr)
Massachusetts Institute of Technology, Cambridge$88,421/Yr (₹73.5L/Yr)$16,390/Yr (₹13.62L/Yr)
Harvard University, Cambridge$82,844/Yr (₹68.86L/Yr)$31,689/Yr (₹26.34L/Yr)
University of California, Berkeley$81,924/Yr (₹68.1L/Yr)$41,336/Yr (₹34.36L/Yr)
Yale University, New Haven$83,256/Yr (₹69.2L/Yr)$25,793/Yr (₹21.44L/Yr)
University of Chicago, Chicago$77,841/Yr (₹64.7L/Yr)$18,396/Yr (₹15.29L/Yr)
Johns Hopkins University, Baltimore$74,993/Yr (₹62.33L/Yr)$17,640/Yr (₹14.66L/Yr)
University of Pennsylvania, Philadelphia$95,681/Yr (₹79.53L/Yr)$17,888/Yr (₹14.87L/Yr)
Columbia University, New York City$89,357/Yr (₹74.27L/Yr)$10,416/Yr (₹8.66L/Yr)
University of California, Los Angeles$50,993/Yr (₹42.39L/Yr)$17,148/Yr (₹14.25L/Yr)
Cornell University, Ithaca$112,904/Yr (₹93.85L/Yr)$35,291/Yr (₹29.33L/Yr)
University of Michigan, Ann Arbor$76,518/Yr (₹63.6L/Yr )$12,034/Yr (₹10L/Yr)
Carnegie Mellon University, Pittsburgh$78,451/Yr (₹65.21L/Yr )$13,784/Yr (₹11.46L/Yr )
University of Washington, Seattle$30,912/Yr (₹25.69L/Yr)$12,117/Yr (₹10.07L/Yr)
Duke University, Durham$63,873/Y (₹53.09L/Yr )$39,174/Yr (₹32.56L/Yr)

Scholarship Opportunities for International MBA Students in the USA

The decision to pursue education abroad is a pivotal moment in a student’s academic journey. As the costs of tuition and living expenses take center stage, scholarships have the potential to reward individuals who qualify, significantly easing their financial burden. Below, we outline a selection of scholarships designed to support Indian students considering an MBA in the USA.

Stanford Knight-Hennessy Scholars Program – Stanford Business School
Harvard Business School Scholarships – Harvard University
McKinsey Award – MIT Sloan School of Management
Donald P. Jacobs International Scholarships – Kellogg School of Management
Dean’s Scholarship – Stern School of Business
Meyer Feldberg Distinguished Fellowship Program, Columbia Business School
Stanford Reliance Dhirubhai Fellowship, Stanford School of Business
India Trust Fellowship, Booth School of Business
Horace W. Goldsmith Fellowship, Harvard Business School
Diversity Scholarships, Kellogg School of Management
Social Impact Fellowships, Wharton School of Business

Frequently Asked Questions

Is it Worth Getting an MBA in the USA?

Studying for an MBA in the USA is like embarking on an extraordinary adventure. It can lead to job offers from top global companies with fantastic salaries. Your MBA journey in the USA can offer great returns on your investment and help you build a powerful professional network. Back in India, you’d typically need to score exceptionally well on exams like CAT to get into the best colleges for a similarly strong return on investment, but it’s a tough road.

What Specializations are Available in MBA Programs in the USA?

MBA programs in the USA offer a wide array of specializations, encompassing disciplines such as finance, marketing, human resources, and entrepreneurship, among others.

Do I Need to Take GMAT or GRE for an MBA in the USA?

If you’re aiming for an MBA in the USA, most business schools require the GMAT or GRE, with many preferring the GMAT over the GRE. The GMAT is designed specifically for business school admissions, while the GRE is more versatile and used for a range of graduate programs. 

What GMAT Score is Optimal for Securing an MBA Scholarship in the USA?

To be considered for many scholarships at esteemed MBA programs in the USA, it is advisable to attain a GMAT score of 600 or higher.

What is the average post-MBA Salary in the USA?

The initial salary commonly extended to MBA graduates in the United States amounts to an average of $115,000 per year.