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

An MBA in the USA is one of the most popular courses in the world. Each year 310+ students apply for MBA programs in the US. The USA offers various MBA specialisations such as MBA in Marketing, Finance, Accounting, Business Analytics, and many more. The average cost of MBA in USA for international students is around $50,000 to $100,000 per year (INR 3,816,290 to INR 7,618,500 per year) which is approx. 27% higher compared to other countries such as the UK or Canada. To know more, read this blog till the end.

Key Highlights:

• The duration of MBA programs in the USA typically ranges from 1 to 2 years. 
• The average annual tuition fee for an MBA in the USA ranges between $50,000 to $100,000. In addition to tuition, students should budget for living expenses, which can range from $10,000 to $20,000 annually.
• Stanford Graduate School of Business, Wharton Business School, and Harvard Business School are among the top MBA colleges in the USA.
• Popular MBA courses in the USA include Finance, Accounting, and Human Resources.
• Students need to take exams like GRE, GMAT, IELTS, or TOEFL to get admission into MBA programs in the USA.
• The three intakes available for MBA in US are Fall, starting in August and popular among Indian students; Spring, which begins in January and is preferable if you miss the September intake; and Summer, offered for limited programs and typically commencing around May.

Here we have listed some benefits of studying MBA in the USA:

• MBA in USA Ranking: Out of 280 business schools featured in the QS Global MBA Ranking list 2024, 113 are from the USA, with Stanford Graduate School of Business occupying the number one position. Such a position speaks volumes about the quality of B schools in the US.
• Career Opportunities: MBA in USA for Indian students can lead to a median annual base salary of $150,000 (INR 1,25,07,030) and nearly $3 million (INR 25,01,40,750) over 20 years, meaning the ROI as compared to the MBA fees in the USA is 141% which is very high. Students gain job opportunities in companies like Apple, the Bill & Melinda Gates Foundation, DuPont, IBM, General Mills, Morgan Stanley, etc.
• Various specialisations: MBA USA universities offer 19 MBA specialisations, including Finance, Marketing, Entrepreneurship & Innovation, Human Resource Management, General Management, Health Care Management, and Organisational Effectiveness. The variety of subjects is a major attraction for an MBA in the USA.

Apart from the traditional MBA that is of 2-year duration, MBA colleges in the US offer different types of MBAs that you can choose depending on your need, convenience, and affordability. MBA in the US can be divided into 5 categories. Let us have a detailed look at each of them:

• Full-time MBA: It is for students willing to leave their jobs and dedicate their full time to weekday classes.
• Part-time MBA: This is for those who want to enhance their career by acquiring managerial skills while remaining employed. It is also known as the Evening or Weekend MBA program as the classes are held on weekends. Also, the part-time MBA fees in the USA are less than the full-time MBA cost in the USA.
• Executive MBA: It is designed for experienced and working executives, managers, entrepreneurs, and other business leaders.
• Global MBA: It aims at providing international business experience to its students. The classes are conducted in different classroom environments and sometimes in various countries and cultures.
• Dual MBA: It involves adding another Masters degree to the MBA course.

An MBA from a top US business school costs between INR 66 - 77 lakh per year, with Columbia having the highest tuition (INR 77 lakh) and Harvard the lowest (INR 66 lakh). The average fee is around INR 72 lakh, excluding living and other expenses. Given these costs, many students explore scholarships, financial aid, and loans to manage expenses effectively.

Here’s a comparison of MBA tuition fees at top US business schools: 

Living expenses for MBA students in the USA range from $16,000 to $40,000 per year, depending on location and lifestyle. Urban cities like New York, San Francisco, and Boston have the highest costs, while smaller towns are more affordable.

Detailed breakdown of yearly living expenses as a student:

The US government offers opportunities for Indian students to study in the country, but you must first obtain a student visa. The type of visa you need depends on your age and the study you wish to pursue in the US. Below is an overview of the different types of US student visas and their application requirements.

The US government provides three types of student visas:

1. F-1 Student Visa: For studying at an accredited US college or university or learning English at an English language institute. The F1 Student Visa will cost USD 185 (INR 15.550).
   
2. J Exchange Visa: For participation in exchange programs, including high school and university study. The J Exchange Visa will cost USD 300 (INR 25,050).
   
3. M Student Visa: For non-academic or vocational study or training in the US. The M Student Visa will cost USD 300 (INR 25,050).

As an applicant from outside the US, you must pay a USD 160 application visa fee. There is a USD 350 SEVIS fee for F and M visa applications and a USD 220 fee for most J Visa applications. This fee covers the cost of the computer system (SEVIS) used to track your stay in the United States.

The USA has a wide range of MBA courses and specialisations. The most popular MBA specialisations in the USA for Indian students are discussed below:

1. MBA in Accounting 

The MBA in Accounting in the USA aims to provide students with financial knowledge and skills to exercise ethical organizational leadership and sound decision-making in an increasingly complex and interconnected world. 

Popular universities to pursue an MBA in accounting in the USA are:

• Stanford University
• Pace University
• Fitchburg State University

2. MBA in Finance 

MBA in Finance in the USA is the most sought-after MBA specialisation. The comprehensive curriculum here seeks to advance complex phenomena involving risk and provide students with a rich and broad program of study. It uses valuation, econometric, and empirical approaches to examine financial phenomena and policy issues.

Popular universities to pursue an MBA in finance in the USA are:

• Stanford University
• New York University
• Cornell University

3. MBA in Information Systems 

An MBA in information systems in the USA helps to understand the impact and implications of information and technology on business strategy, organizational efficiency, and public policy. This program aims to make a better world using tools from data analysis, computer science, economics, philosophy, machine learning, and organizational behavior.

Popular universities to pursue an MBA in information systems in the USA are:

• University of Florida
• University of Buffalo
• University of Michigan 

4. MBA in Marketing 

An MBA in marketing in the USA focuses on insights and methods from psychology, anthropology, economics, and computer science to understand how market factors and social context influence customer perceptions, decisions, and actions, and drive marketing programs and plans.

Popular universities to pursue an MBA in marketing in the USA are:

• University of Pittsburgh
• University of South Dakota
• Suffolk University

5. MBA in Business Analytics 

An MBA in Business Analytics in the USA specializes in systematic data analysis to reach valid conclusions and decisions. The data here is generated through business operations or statistical sources to evaluate efficiency, cost, and results. Pursuing this specialisation enhances your leadership, technical, and analytical skills.   

Popular universities to pursue an MBA in business analytics in the USA are:

• University of Arizona
• Pace University
• Gannon University

Fulfilling all eligibility criteria is necessary to pursue an MBA in the USA for Indian students. While the basic requirements remain the same, varying eligibility criteria arise from differences in university-specific admission standards, program specialisations, and institutional priorities. 

Eligibility Criteria

1. Undergraduate Degree

The first eligibility requirement to study an MBA in USA is a bachelor's degree or equivalent in a relevant subject, typically requiring 16 years of education. Although different universities have set different qualifying scores based on their programs, most universities ask for a minimum score of 50% in undergraduate degrees.

2. Language Requirement

The English proficiency test is mandatory for all international students to get admission to an MBA in USA for Indian students. Minimum scores as per the tests for top business schools in the US are mentioned below:

• IELTS: 6.5 - 7.5
• TOEFL: 88 - 109
• PTE: 70 - 75

3. GMAT/GRE Scores

A GMAT or GRE score is required to get admission into the best MBA colleges in the US.  The average GMAT score for an MBA in the US ranges from 550 to 730. For GRE you must have a minimum score of 310 to 315. 

4. Work Experience

A minimum of 3 years of work experience is required to study MBA in the US. However, some courses like Executive MBA ask for more years of work experience as a mandatory requirement. On the other hand, there are also universities in the USA offering MBA without experience, making them accessible to recent graduates

5. Passport and Visa

A valid passport and student visa are required for all international students to study any course at any university in the USA. Apply for your visa at least 3 months before the expected travel date. 

Admission Requirements

To apply for an MBA in the USA, you must submit several documents to prove your eligibility. Below are the essential requirements:

• Academic Transcripts - Records of all previous educational qualifications.
• CV/Resume - A detailed overview of academic and professional experience.
• Letter of Recommendation (LOR) - Typically from professors or employers highlighting your skills and achievements.
• Statement of Purpose (SOP) - A personal essay outlining your goals, motivation, and reasons for pursuing an MBA.
• Standardized Test Scores - GMAT/GRE scores (as required by the university) and English proficiency tests like IELTS/TOEFL.
• Work Experience Certificate - Required by many MBA programs, especially for executive or specialized MBAs.
• Proof of Funds - Financial documents showing the ability to cover tuition and living expenses.

Each university may have specific requirements, so it’s important to check the admission guidelines before applying.

Suggested: SOP for MBA in USA

In addition to academic qualifications, you must achieve qualifying scores in entrance exams to study MBA in USA. Common requirements for an MBA include entrance tests such as GMAT, GRE, IELTS, or TOEFL.

MBA in the US offers a wide range of courses and specialisations that are up-to-date with the current trends in business, management, and technology. After completing your MBA in the   USA, you will be capable enough to take up responsible and high-paying jobs in different sectors. Keeping in mind the worldwide reputation of MBA colleges in the USA, graduates are highly sought after by top companies like Apple, Microsoft, Google, HCL, Amazon, Deloitte, etc.

Some of the top jobs after an MBA in the US and their salaries are:

Suggested: Jobs and Salaries after MBA in USA

The GMAT is a key requirement for many MBA programs in the USA but some colleges offer alternatives. Similarly, certain institutions do not require work experience for admission. To increase your chance of admission without GMAT or work experience focus on below things:

• Maintain a strong academic record during your undergraduate studies.
• If you don’t have work experience, aim for a high GMAT or GRE score to bolster your application. 
• Craft a compelling Statement of Purpose to enhance your chances of admission.
• Secure strong Letters of Recommendation to enhance your chances of admission. 

Top colleges for MBA in USA without GMAT 

• Florida International University
• University of North Carolina at Chapel Hill
• New York Institute of Technology

Top colleges for MBA in USA without work experience

• New Jersey Institute of Technology
• Seton Hall University
• Gannon University 

Suggested: MBA in USA Without GMAT

International students often find it challenging to leave the United States after graduation due to its vibrant environment, rich culture, and abundant opportunities. The US government's student-friendly policies make obtaining a post-graduate work visa easier. With a valid F1 visa, you can stay in the USA. Use temporary employment opportunities through the OPT (Optional Practical Training) or CPT (Curricular Practical Training) programs.

MBA is one of the most popular courses for international students. Over the years, the USA has been a prominent choice for many reasons. Out of 250,389 students studying for an MBA worldwide during the 2020-2021 academic year, 155,996 are at U.S. business schools. 

Even though you are fully informed about the MBA in USA, its eligibility criteria, and the costs involved, juggling everything alone might get overwhelming. Reach out to our professionals for a FREE Consultation Call and resolve all your queries, alongside receiving a thorough profile evaluation and end-to-end assistance on everything studying abroad.