The USA is one of the most sought-after destinations for studying MBA abroad, with 26% of international students pursuing MBAs, rising to 28.5% at top business schools. 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.
In this blog, we've covered everything you need to know about MBA tuition fees, living expenses, city-wise costs, and affordable MBA options in the USA.
Key Highlights:
- MBA fees in the USA for Indian students range between USD 60,000 to USD 80,000 (INR 50 lakhs to INR 67 lakhs) per year.
- The average cost of an MBA in the USA is between $160,000 and $180,000 (INR 1.33 crore to INR 1.50 crore), including $60,000 to $80,000 for tuition (about INR 50 lakhs to INR 67 lakhs) and $8,000 to $10,000 per month for living expenses (approximately INR 6.7 lakhs to INR 8.4 lakhs)
- Some popular MBA colleges in the USA include Harvard, Stanford, and Wharton, with tuition fees ranging from $60,000 to $80,000 per year.
- Average annual salaries of MBA graduates from top US universities range from $120,000 to $150,000.
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Understanding the Cost of an MBA in the USA
The tuition fees for an MBA in the USA range from around $60,000 to $80,000 or INR 50 lakhs to INR 67 lakhs per year. The living expenses come around $8,000 - $10,000 or INR 6 lakhs to INR 8 lakhs per month.
The factors responsible for determining the cost of an MBA in the USA are as follows:
- Average MBA Tuition Fees in the USA: It is the most significant expense, with top-tier business schools often charging over $100,000 or INR 85 lakhs. Costs vary widely between institutions and programs.
- Living Expenses: Living in urban centers like New York or San Francisco can significantly increase your overall cost compared to smaller cities or towns.
- Books and Materials: These are essential for coursework. It requires a substantial investment each semester.
- Health Insurance and Medical Fees: It is often mandatory for full-time students and adds thousands of dollars to annual costs.
- Transportation: These include commuting to campus or traveling for work placement.
- Personal Expenses: These include daily costs from food to networking events.
MBA Tuition Fees at Top Universities in the USA
If you want to pursue an MBA from a top university in the USA get ready to spend a large sum of money on tuition fees. The average tuition fee for an MBA in the USA for Indian students will be around $50,000 - $60,000 or INR 41 lakhs - INR 50 lakhs per year.
Check the table below to find out the top MBA colleges in USA with fees:
|
Sr. no. |
Top MBA Universities in USA |
Average MBA Tuition Fees in USA per year (in USA) |
Average MBA Tuition Fees in USA per year (in INR) |
|---|---|---|---|
|
1 |
Stanford University (Graduate School of Business) |
$72,450 |
INR 66 lakhs |
|
2 |
Harvard University (Harvard Business School) |
$73,440 |
INR 67 lakhs |
|
3 |
University of Pennsylvania (Wharton) |
$73,200 |
INR 67 lakhs |
|
4 |
$73,440 |
INR 67 lakhs |
|
|
5 |
Columbia University (Columbia Business School) |
$72,788 |
INR 66 lakhs |
|
6 |
University of Chicago (Booth School of Business) |
$75,920 |
INR 69 lakhs |
|
7 |
Northwestern University (Kellogg) |
$77,172 |
INR 70 lakhs |
|
8 |
$73,221 |
INR 66 lakhs |
|
|
9 |
Yale University (Yale School of Management) |
$72,850 |
INR 66 lakhs |
|
10 |
Duke University (Fuqua) |
$72,672 |
INR 66 lakhs |
Low-Cost MBA Colleges in the USA
We’ve curated some top-ranked global universities that offer affordable MBA programs. Let’s have a look at the MBA fees of these affordable colleges in the USA.
|
University |
Average MBA Tuition Fees in USA |
|---|---|
| INR 10,84,630 (under $13,000) | |
|
The City University of New York (Baruch College) |
INR 15,85,230 (under $19,000) |
|
University at Buffalo (SUNY) |
INR 16,68,660 (under $20,000) |
|
Cameron University |
INR 53,230 ( $638.00) per semester hour |
| INR 16,68,660 (under $20,000) | |
|
University of Louisiana at Monroe |
INR 16,68,660 (under $20,000) |
| INR 20,85,820 (under $25,000) | |
| INR 20,85,820 (under $25,000) | |
| INR 20,85,820 (under $25,000) | |
|
INR 20,85,820 (under $25,000) |
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Cost of MBA in USA for Indian Students
The average annual cost of an MBA in the USA ranges from $160,000 to $180,000. This includes tuition fees, which are between $60,000 and $80,000 per year, and living expenses, which typically range from $8,000 to $10,000 per month. For further details on living costs and other expenses, please refer to the information below.
Cost of Living in the USA
Living in the USA isn’t 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, roughly $800 - 1000 per month. That’s around INR 60,000-80,000 in Indian rupees. And don’t forget health insurance, which will set you back another $500 - 1000 or INR 41,710 - 83,430 per year.
But let’s break it down even further. Here’s a peek at what those monthly living expenses might look like:
|
Particulars |
Living Expenses in USA per month |
|---|---|
|
Rent |
$200 (INR 16,690) |
|
Food |
$400 (INR 33,370) |
|
Transportation |
$100-300 (INR 8,340-25,030) |
|
Phone/Internet |
$50-150 (INR 4,170-12,510) |
|
Electricity bill |
$20-50 (INR 1,670-4,170) |
|
Personal expenses |
$300-600 (INR 25,030-50,060) |
When it comes to living costs, not all cities are 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 have high living costs. The East Coast tends to be pricier than the West Coast, so keep that in mind.
Other Expenses for an MBA in the USA
Before you head to the USA for your MBA, it's important to understand and prepare for the expenses awaiting you beforehand. Here’s a quick breakdown of what these pre-arrival costs might include:
|
Particulars |
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: List of MBA Scholarships in the USA
City-wise Cost of Living in USA
Before you start your MBA in the USA, it's important to know how much it costs to live in different cities. The table below breaks down these costs to help you plan your budget wisely.
|
City |
Average Monthly Cost in USA |
|---|---|
|
Boston |
INR 1.67 lakh - INR 3.00 lakh ($2,000 - $3,000) |
|
New York |
INR 2.50 lakh - INR 2.91 lakh ($2,500 - $3,500) |
|
Stanford |
INR 1.50 lakh - INR 2.09 lakh ($1,800 - $2,500) |
|
San Francisco |
INR 1.84 lakh - INR 2.50 lakh ($2,200 - $3,000) |
|
Chicago |
INR 1.25 lakh - INR 1.67 lakh ($1,500 - $2,000) |
|
Philadelphia |
INR 1.17 lakh - INR 1.50 lakh ($1,400 - $1,800) |
|
Cambridge |
INR 1.67 lakh - INR 2.09 lakh ($2,000 - $2,500) |
|
Los Angeles |
INR 1.42 lakh - INR 1.84 lakh ($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 the USA
Average MBA Fees in USA Vs Other Countries
The USA MBA fees of some universities might make your eyes water but don’t be discouraged. Many US universities offer several 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 MBA fees 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 (INR 45 lakhs) |
$40,000 (INR 33 lakhs) |
$100,000 (INR 83 lakhs) |
|
UK |
$35,000 (INR 29 lakhs) |
$25,000 (INR 21 lakhs) |
$50,000 (INR 41 lakhs) |
|
Canada |
$40,000 (INR 33 lakhs) |
$30,000 (INR 25 lakhs) |
$60,000 (INR 50 lakhs) |
|
Australia |
$45,000 (INR 37 lakhs) |
$35,000 (INR 29 lakhs) |
$70,000 (INR 58 lakhs) |
|
Germany |
$25,000 (INR 20 lakhs) |
$15,000 (INR 12.5 lakhs) |
$40,000 (INR 33 lakhs) |
From the Desk of Yocket
Now that you have a clear understanding of the MBA fees and cost of living in the USA, it's time to make a plan! Start with applying for scholarships and part-time jobs. 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? Schedule a free consultation call with our experts for personalized assistance with scholarships, universities, and your applications. We’ll also keep you updated on deadlines and important information, so you can focus on what matters most: acing those exams!
