The US has a high number of globally prestigious business schools. 51 of the top 100 MBA programmes ranked by the Financial Times come from the US. The trend of ‘MBA’ is known to be deeply rooted in the US. After all, it was in the late 1800s, when University of Pennsylvania’s Wharton School started training students in aspects of managing a successful business including accounting, finance, legal, marketing, operations, and more.
The US is the world’s largest economy with the most GDP per capita. It houses huge corporations with the largest market capital. 42% of the Financial Times Global 500 rankings, in the year 2018, mostly constituted US based companies. These corporate players are also some of the largest employers in the country who have created large demand for MBA trained management. Therefore, pursuing an MBA programme in the US is considered a direct pass to the big American dream.
MBA in USA – Key benefits of studying MBA in US
- Making fruitful connections – The top US business schools have the best networks and connections with international and domestic businesses around the world. The schools host networking events where you get a lot of opportunities to meet local companies and make connections. Internships during the MBA programmes can lead to full-time jobs post studies.
- Networking with future and present business leaders – 13 of the top 25 MBA schools in the world are in the US which shows the strength of American management education. While deciding on their institution, students should consider researching the business school on the basis of employment rate after graduation and most importantly, the ROI the graduates will get, based on their starting salaries. According to 2018 Jobs & Salary Trends Reports, USD 98,900 is the average salary of an MBA graduate in the US.
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MBA in USA – Course Programmes & Universities
5 most popular and top-ranked business institutions in USA are:
- Harvard University
- Stanford University
- Northwestern University
- University of Michigan Ann Arbor
- University of Virginia
Below you can find out brief details on the top 2 business/management schools in the US:
1. Harvard University
The management programs at Harvard are ranked at the top in the US. According to QS 2020 rankings, the MBA course taught at Harvard ranks at 5th position globally. The business school at the University consists of these faculties –
- General Management
- Healthcare Administration
- Human Resources Management
- International Business
- Manufacturing and Technology Management
- Not-for-profit Management
- Production/Operations Management
- Organizational behavior
- Portfolio Management
- Public Administration
- Public Policy
- Real Estate
- Sports Business
- Supply Chain Management/logistics
- Quantitative Analysis/Statistics and Operations Research
MBA at Harvard University is taught via case method courses, field projects, multimedia simulations etc. Students exercise the leadership skills they gather during the MBA programme in business and beyond. During the second year, students choose from a range of elective courses to integrate the functional skills learned in the first year into an understanding of the firm as a total enterprise. Out of the total percentage of MBA students in the US, 35% are international students from 70 countries and 156 undergraduate institutions.
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2. Stanford University
Stanford admits candidates who bring diverse perspectives and experiences to the MBA class. Stanford’s collaborative educational process leverages the breadth of students backgrounds to deliver a range of perspectives and approaches to real-world problems. According to 2019 Employment Reports, 447 organizations around the world chose to hire Stanford graduates for internships and jobs.
At Stanford Graduate School of Business, there are 3 application rounds every year in the months of September, January and April . Students can apply only once per application year.
2019-20 APPLICATION DEADLINES FOR MBA AT STANFORD GRADUATE SCHOOL OF BUSINESS
|2019–20 Deadlines||Round 1||Round 2||Round 3|
|Submit Application||12 Sep 2019||09 Jan 2020||08 Apr 2020|
|Notification||12 Dec 2019||02 Apr 2020||21 May 2020|
|Applicants reply and fees due||11 Feb 2020||29 Apr 2020||10 Jun 2020|
In the following sections, you will get to know about the general MBA/management application process in the US, documents required, deadlines for admission and other information.
MBA in USA – Application Process, Deadlines & Documents
Application process for MBA in the US comprises of the following basic steps:
- You need to do research on the MBA/management courses in the universities you wish to apply for. Check out the details on specialisations/streams in MBA and make sure that aligns with your future career goals.
- Visit university-specific application pages and make an online application following the predetermined criteria at every step.
Generic entry requirements for MBA admission in USA:
- A four-year bachelor’s degree recognised as an accredited international institution in the US.
- Two to three years of work experience
- Personal statement
- Two letters of professional recommendation
- Proof of English proficiency (TOEFL scores are most commonly required; paper-based: 550 – 600 and computer-based 213 – 250)
- GMAT score over 600 is recommended
MBA APPLICATION DEADLINES (FOR FALL SEASON) FOR TOP BUSINESS SCHOOLS IN THE USA
|Top US Business Schools||Round||Deadline||Decision|
|Harvard Business School||Round 1||Sep 4, 2019||Dec 10, 2019|
|Round 2||Jan 6, 2020||Mar 31, 2020|
|Stanford Graduate School of Business||Round 1||Sep 12, 2019||Dec 12, 2019|
|Round 2||Jan 9, 2020||Apr 2, 2020|
|Round 3||Apr 8, 2020||May 21, 2020|
|Kellogg School of Management||Round 1||Sep 18, 2019||Dec 11, 2019|
|Round 2||Jan 8, 2020||Mar 25, 2020|
|Round 3||Apr 8, 2020||May 13, 2020|
|The Wharton School||Round 1||Sep 17, 2019||Dec 18, 2019|
|Round 2||Jan 7, 2020||March 26, 2020|
|Round 3||Apr 1, 2020||May 8, 2020|
|Sloan School of Management, MIT||Round 1||Oct 1, 2019||Dec 18, 2019|
|Round 2||Jan 21, 2020||Mar 31, 2020|
|Round 3||Apr 9, 2020||May 7, 2020|
|Booth School, University of Chicago||Round 1||Sep 26, 2019||Dec 5, 2019|
|Round 2||Jan 7, 2020||Mar 19, 2020|
|Round 3||Apr 2, 2020||May 21, 2020|
|Haas School of Business||Round 1||Sep 26, 2019||Dec 12, 2019|
|Round 2||Jan 9, 2020||Mar 26, 2020|
|Round 3||Apr 2, 2020||May 7, 2020|
|Tuck School of Business||Round 1||Oct 7, 2019||Dec 12, 2019|
|Round 2||Jan 6, 2020||Mar 12, 2020|
|Round 3||Mar 30, 2020||May 7, 2020|
|Yale School of Management||Round 1||Sep 10, 2019||Dec 4, 2019|
|Round 2||Jan 7, 2020||Mar 24, 2020|
|Round 3||April 14, 2020||May 19, 2020|
|Stern School of Business, NYU||Round 1||Oct 15, 2019||Jan 1, 2020|
|Round 2||Nov 15, 2019||Feb 1, 2020|
|Round 3||Jan 15, 2020||Apr 1, 2020|
|Round 4||Mar 15, 2020||Jun 1, 2020|
GMAT SCORES ACCEPTED IN THE TOP BUSINESS INSTITUTIONS OF THE USA
|Schools||Average GMAT Score Criteria|
|University of Pennsylvania (Wharton)||732|
|Stanford University (CA)||733|
|Yale University (CT)||721|
|Harvard University (MA)||725|
|Columbia University (NY)||715|
|University of California – Berkeley (Haas)||717|
|University of Chicago (Booth)||726|
|Northwestern University (Kellogg) (IL)||728|
|Massachusetts Institute of Technology (Sloan)||724|
|Dartmouth College (Tuck) (NH)||717|
TOEFL SCORES ACCEPTED IN THE TOP MBA COLLEGES IN THE US
|TOEFL Scores||US Universities|
|MIT IBT: 90 minimum; 100 recommended||MIT Sloan School of Management|
|TOEFL iBT 100||Stanford Graduate School of Business|
|TOEFL iBT 109||Harvard Business School|
|Average score = 110; no specified minimum score||University of Pennsylvania, Wharton School|
|Average score = 109; no specified minimum score||Kellogg School of Management|
MBA in USA – MBA Course Fees
The average cost of attending a top MBA college in the USA has increased faster than the rate of inflation. Tuition fees at the top MBA schools in the US is listed in the table below:
MBA PROGRAMME FEES IN US
|Popular MBA programmes||Duration||Tuition Fees|
|2 year Stanford MBA Programme||2 years||$73,000/year|
|Harvard University MBA,
|The Wharton MBA Programme||2 years||$81,400/first year|
|University of Chicago – Booth, Full Time MBA||2 years||$72,000/9 months|
|University of Chicago –Booth, Evening/Weekend MBA||2.5 – 3 years||$7,200/course|
|MIT MBA Program||2 years||$77,200/year|
|Columbia University Full time MBA||2 years||$77,400/year|
|University of California – Berkeley Haas Full time MBA||2 years||$64,700/year|
|Yale School of Management (SOM) MBA Programme||2 years||$72,400/year|
|Northwestern University – Kellogg
One Year MBA
Two Year MBA
|2 years||$101,288 for 1 year MBA
$73,400/year for 2 year MBA
Q. What exam is crucial for MBA admission in the United States?
A. GMAT is the most crucial exam for MBA admission in the US. You need to have a great GMAT score to qualify for admission to top B-schools in the US.
Q. How much does it cost to pursue an MBA in the USA?
A. The average tuition for a two-year full-time MBA program exceeds USD 60,000. An executive MBA from Wharton can cost up to USD 2,05,200.
Q. What is the salary of an MBA graduate in the USA?
A. An average starting MBA salary is up to USD 1,23,900 annually in North America.
Q. Where can I do an MBA in the USA?
A. Top MBA schools in the US are:
- Harvard Business School
- Stanford Graduate School of Business, Stanford University
- Booth School of Business, University of Chicago
- Wharton, University of Pennsylvania
- MIT Sloan School of Management
Q. What are the top study abroad destinations in the world?
A. Based on latest QS World University Ranking review, the top 5 countries to study MBA abroad are: