The USA is still one of the most sought-after destinations for studying abroad! Whether you’re looking for an MS or an MBA, you won’t be disappointed.
MBAs are super popular right now, especially among international students. As per Poets & Quants, the Open Doors Report, and other data on international students, in fact, 26% of all international students in the USA are working on their MBAs! And in top business schools, that number jumps to 28.5%.
Just like in India, an MBA in the US takes 2 years and prepares you for management and executive roles. You might be surprised to learn that you can also pursue an MBA in just 12-18 months! But be warned: it’s also one of the most expensive degrees you can get, with tuition ranging from INR 50 lakhs to INR 1 crore for top universities.
If the cost is making you sweat, don’t worry; the investment is worth it! Scholarships are available to help ease the financial burden. And hey, there are ways to make it easier on your wallet. Scholarships are out there; you just have to find them. And that’s where Yocket Premium comes in.
Yocket Premium gives you dedicated, unbiased counseling every step of the way as you plan your study abroad adventure. Plus, with our experienced team by your side, finding and getting scholarships becomes a breeze.
In this blog, we have lots of information on top MBA colleges in the USA, fees, living expenses, and more! Check it out!
Table of Contents |
What is the Cost of Studying an MBA in the USA?
The tuition fees for MBA ranges around $60,000 to $80,000 or INR 50 lakhs to INR 67 lakhs per year. Additionaly, The living expenses comes around at $8,000 - $10,000 per month.
Keep in mind that the total cost can vary depending on your chosen university and desired lifestyle. While some expenses, such as insurance, books, and commuting, are unavoidable, others can be controlled. So, think about your priorities and budget wisely!
Suggested: All about MBA in the USA!
But even before you go, what kind of expenses can you expect? Since you are here, you get answers to that too. 😉
What are the Expenses Incurred by Students Before Going to the USA?
Heads up! Studying for an MBA in the USA can come with some hidden costs besides the usual stuff, such as tuition and fees. These “pre-arrival expenses” aren’t covered by scholarships or financial aid, so you’ll need to factor them into your budget.
Here’s a quick breakdown of what these pre-arrival costs might include:
|
Expense |
Amount (in USD) |
Amount (in INR) |
|---|---|---|
|
$185–$195 |
INR 15,350–INR 16,500 |
|
|
TOEFL Registration Fee |
$205 |
INR 17,000 |
|
$220 |
INR 18,300 |
|
|
GMAT Registration Fee |
$275 |
INR 23,000 |
|
Visa Application Fee |
$185 |
INR 15,390 |
|
SEVIS Fee |
$350 |
INR 28,700 |
|
Airfare |
$390–$1300 |
INR 32,000–INR 1,10,000 |
Suggested: GRE Accepting Universities in USA for MBA
After arriving in the USA, you will be paying for MBA in US fees, living expenses and other expenses such as visa, insurance, application fee, taxes, etc. Where do these expenses stand? Let’s find them! 🔎
MBA Colleges Tuition Fees in USA
Firstly, the price tag will vary depending on the college you choose. Top schools, while offering an amazing experience and prestigious connections, come with a hefty tuition fee. But don’t worry; there are plenty of other universities with excellent MBA programs at a more affordable price.
Top Colleges for an MBA in the USA
If you have your sights set on a top university, get ready to shell out a little more money. On average, it’ll set you back around $50,000 - $60,000 per year.
Instead of just throwing numbers at you, we have a handy table that breaks down the cost of an MBA at some of the top universities in the USA. Check it out: ⬇️
|
University |
Annual Tuition Fees (USD) |
Annual Tuition Fees (INR) |
|---|---|---|
|
Stanford University (Graduate School of Business) |
$72,450 |
₹65,86,405 |
|
Harvard University (Harvard Business School) |
$73,440 |
₹66,76,640 |
|
University of Pennsylvania (Wharton) |
$73,200 |
₹66,62,880 |
|
$73,440 |
₹66,76,640 |
|
|
Columbia University (Columbia Business School) |
$72,788 |
₹66,39,216 |
|
University of Chicago (Booth School of Business) |
$75,920 |
₹69,07,840 |
|
Northwestern University (Kellogg) |
$77,172 |
₹70,42,176 |
|
$73,221 |
₹66,65,139 |
|
|
Yale University (Yale School of Management) |
$72,850 |
₹66,47,200 |
|
Duke University (Fuqua) |
$72,672 |
₹66,28,032 |
Note: Please remember that these are estimated figures and may vary slightly depending on the specific program and individual circumstances. It is always best to check with the university directly for the most accurate information.
Affordable Universities Offering MBAs in the USA
We’ve got you covered with some of the top-ranked global universities that offer affordable MBA programs. Let’s have a look at these universities! ⬇️
|
University |
Tuition Fees (USD) |
|---|---|
|
Under $13,000 |
|
|
The City University of New York (Baruch College) |
Under $19,000 |
|
University at Buffalo (SUNY) |
Under $20,000 |
|
Cameron University |
$638.00 per semester hour |
|
Under $20,000 |
|
|
University of Louisiana at Monroe |
Under $20,000 |
|
Under $25,000 |
|
|
Under $25,000 |
|
|
Under $25,000 |
|
|
Under $25,000 |
Note: This list is based on publicly available information and may not reflect the most up-to-date tuition fees. It is highly recommended to check the official websites of the universities for the latest tuition costs and other fees. Additionally, the cost of living in different cities can vary significantly.
Please be aware that some of these universities may offer scholarships and other financial aid specifically for international students. It is important to research these options carefully and apply for as many scholarships as possible to reduce your overall cost of attendance.
Suggested: What is the cost of Studying MBA Abroad?
Cost of Living in USA for International Students
Living in the USA ain’t exactly the same as back in India, especially when it comes to your wallet. Unlike home, you’ll be paying for your rent, groceries, food, transportation, health insurance, and those little extras that add up. On top of that, the monthly cost can vary depending on where you choose to live and how fancy you want things to be.
On average, you can expect to spend around $10,000–12,000 per year on living expenses in the USA, which translates to roughly $800 - 1000 per month. That’s around ₹60,000–80,000 in Indian rupees. And don’t forget health insurance, which will set you back another $500 - 1000 per year.
But let’s break it down even further, shall we? Here’s a peek at what those monthly expenses might look like:
|
Expense |
Monthly Cost (in USD) |
|---|---|
|
Rent |
$200 |
|
Food |
$400 |
|
Transportation |
$100-300 |
|
Phone/Internet |
$50-150 |
|
Electricity bill |
$20-50 |
|
Personal expenses |
$300-600 |
When it comes to living costs, not all cities are created equal. Some places will drain your wallet faster than others, especially if you’re coming from India.
Cities such as Boston, New York, Stanford, San Francisco, Chicago, Philadelphia, Cambridge, and Los Angeles are notorious for their high living costs. Basically, the East Coast tends to be a bit pricier than the West Coast, so keep that in mind.
Here’s a quick breakdown of average living expenses in some popular college towns:
|
City |
Average Monthly Cost |
|---|---|
|
Boston |
$2,000 - $3,000 |
|
New York |
$2,500 - $3,500 |
|
Stanford |
$1,800 - $2,500 |
|
San Francisco |
$2,200 - $3,000 |
|
Chicago |
$1,500 - $2,000 |
|
Philadelphia |
$1,400 - $1,800 |
|
Cambridge |
$2,000 - $2,500 |
|
Los Angeles |
$1,700 - $2,200 |
Note: Remember, these are just averages, and your actual expenses will vary depending on your lifestyle and living arrangements.
Suggested: Jobs and Salary after MBA in USA
By now, it must have become clear to you that pursuing an MBA in the USA is not going to be a cheap venture. But that should not deviate you from your dream!
With Yocket Premium, our experts will help you ease the financial burden on you by exploring the best scholarships and loans you can take for your MBA. Well, this and a lot more! So, explore Yocket Premium today!
MBA in USA Fees vs Other Countries
The price at some US universities might make your eyes water, but don’t be discouraged. Compared to other hot MBA destinations such as the UK, Canada, Australia, and Germany, the USA actually comes out pretty affordable, on average.
And here’s the best part: many US universities offer a ton of financial aid, especially merit-based scholarships, which can seriously slash your tuition fees. So, that hefty price tag might not be as scary after all!
Now, let’s compare the cost of an MBA in the USA to those in other countries and see how it stacks up.
|
Country |
Average MBA Fees (USD) |
Low Range |
High Range |
|---|---|---|---|
|
USA |
$55,000 |
$40,000 |
$100,000 |
|
UK |
$35,000 |
$25,000 |
$50,000 |
|
Canada |
$40,000 |
$30,000 |
$60,000 |
|
Australia |
$45,000 |
$35,000 |
$70,000 |
|
Germany |
$25,000 |
$15,000 |
$40,000 |
From the Desk of Yocket
Now that you’ve got the numbers down on the cost of an MBA in the US, let’s strategize! It’s all about planning, smart choices, and a sprinkle of Yocket magic.
First things first: scholarships and part-time jobs. Apply early and be proactive; every little bit helps! Next, embrace the art of frugal living. Track your expenses like a pro, snag that student travel pass, and don’t hesitate to share an apartment. Remember, every dollar saved is a dollar toward that dream career. But hey, it’s not all about pinching pennies. Think of it as an investment. Your dedication and hard work will pay off big time with those juicy post-MBA salaries and exciting career prospects.
Want to simplify the process? Yocket Premium can be your secret weapon! Get personalized assistance for scholarships and universities, and even help with your applications. Plus, we’ll keep you updated on deadlines and important information, so you can focus on what matters most: acing those exams!