Introduction
Every year, millions of international students vie for a management degree from one of the many universities in the USA. What makes the USA so popular among MBA seekers is its flourishing market and the way it manages successful businesses around the world with its management leaders. According to Financial Times’ Global MBA Rankings, 51 colleges out of the top 100 business school programs are from the US. And, 11 of its universities feature in the top 20 universities in the world as per other rankings from THE, ARWU, and QS Rankings.
The demand for an MBA from USA can also be gauged from the fact that more than 50 percent of aspirants send their GMAT (Graduate Management Admission Test) scores to universities in the USA every year. If you happen to share a similar dream of graduating from a U.S. university or college, you’re at the right place to learn all about it.
Have a look at the top-ranked colleges in the USA.
Best MBA Colleges in the USA
• Harvard Business School
• Stanford Graduate School of Business
• University of Pennsylvania – Wharton School
• Massachusetts Institute of Technology – MIT Sloan School of Management
• University of California at Berkeley – Haas School of Business
• Yale University
• University of California, Los Angeles (UCLA)
• University of Chicago – Booth School of Business
• Columbia Business School
Eligibility Criteria for International Students
Entry requirements for universities in the USA will differ based on the institutions’ prestige and ranking. Yet, all international students are expected to have completed a minimum of 16 years of education (an undergraduate or diploma after 10+2) and provide academic transcripts prior to taking an entrance exam. Besides, students who have completed their Master’s degree are also qualified to apply for an MBA in the USA.
You must also check below specifics to understand the application process:
• Work Experience: For the majority of business schools in the USA, your relevant work experience acts as one of the most important criteria for your selection. A couple of years of work experience would do.
• Letter of Recommendation (LOR): LOR It is a letter written by someone who has closely taught/assisted you in a subject that is related to the course you have applied for. Two to three recommendation letters will do.
• Statement of Purpose (SOP): SOP is written by applicants that reflect candidates’ life goals, as well as, their reasons for wanting to join any particular institution.
• Essays: Application essays are a make or break deal for your application. Make sure you display an advanced level of thoughtfulness as this is the chance to market yourself.
Cost of MBA in the USA
You might ask, how much does it cost to do an MBA in the USA?
Thousands from India aspire to score a seat in the USA to earn their MBA degree, but some have to let go of their dream because it costs a fortune.
Though the cost is bound to differ on the grounds of university tuition fee, application charges, program fees, exam fees, living cost of the city, food and accommodation, and other charges including personal expenses, we can however, sum it all up to an average amount that you must be ready to spend on your education.
One should have a comfortable budget of $200,000 (or INR 1,38,54,000), including all the above-mentioned expenses, for a two year MBA program in the USA.
Exams for MBA in the USA
Your next question might be- What are the exams for MBA in the USA?
Aspirants have to undertake GMAT or GRE (depending on the universities you’re targeting) to pursue full-time management studies in the USA. Along with that, you have to take the TOEFL (Test of English as a Foreign Language) test that will rate your command over the English language for reading, listening, speaking, and writing.
GMAT: The computer-adaptive test, a 3 hours and 30 minutes exam, assesses an individual’s analytical writing, quantitative, verbal, and comprehension skills in standard written English.
GRE: It is the world’s largest assessment program for graduate admissions. Top-ranked MBA programs in the USA accept the GRE scores to evaluate potential candidates.
Then there are colleges in the USA that provide MBA courses without GMAT scores as well. They are:
• Northwestern University
• University of Pennsylvania
• Harvard University
• Massachusetts Institute of Technology
• Duke University
• Columbia University
• Cornell University
• University of Virginia
• Stanford University
• University of California (Los Angeles)
• New York University
• Carnegie Mellon University
Scholarship and Financial Aid for Indian Students
For starters, one must start exploring financial aid options at the time of researching for suitable business schools. While top MBA colleges would have an option to offer you scholarships of up to 50%, you need to have a back-up plan in case you settle for other colleges.
Below is the list of institutions that offer you scholarships to study MBA in the USA with scholarship from India.
• Fulbright-Nehru Fellowships
• S.N. Bose Scholars Student Exchange Program for Indian Students
• Stanford Reliance Dhirubhai Fellowships for Indian students
• Chicago Booth School of Business
• The Tata Scholarship at Cornell University
• Asian Development Bank Government of Japan Scholarship Program
• Clark University Global Scholars Program Scholarship
• University of Wisconsin-Superior Non-resident Tuition Waiver Program
• University of Minnesota International Excellence Scholarships
• Michigan State University, I.C. Shah Scholarship
Conclusion
“Why MBA?” is a question that perplexes even the most experienced and intelligent ones. There could be many diverse perspectives on whether you should or shouldn’t opt for an MBA. We understand you, and that’s why Manya Group is here to offer you end-to-end guidance and solution for MBA in the USA and other education requirements.
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