MBA in USA: Colleges, Fees, Benefits, and Salary
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The United States is home to some of the best business schools in the world, making it a top destination for MBA students from all over the globe. In this blog post, we will discuss the top colleges for an MBA in the USA, their tuition fees, scholarship opportunities, and average starting salaries for graduates.
Why study MBA in USA?
Doing an MBA in the USA has its own benefits and can surely revolutionize your life entirely. So you should know what it will provide you additionally with a certified degree. Here are the 5 benefits of doing an MBA in USA:
- High-quality education: The US is home to some of the best business schools in the world, which offer rigorous and challenging programs that can help you develop the skills and knowledge you need to succeed in the business world.
- Global exposure: An MBA in the US will give you the opportunity to learn from and network with people from all over the world, which can help you develop a global mindset and perspective
- Excellent career prospects: An MBA from a top US business school can open up doors to top jobs at top companies, both in the US and abroad.
- Personal development: An MBA is a great way to develop your leadership skills, critical thinking skills, and communication skills. These skills can be invaluable in both your personal and professional life.
- Access to cutting-edge research: Top US business schools conduct cutting-edge research on a wide range of business topics. This research can help you stay up-to-date on the latest trends in business and can give you insights that can help you make better decisions in your career.
Top MBA Colleges in the USA
The tuition fees for an MBA in USA vary depending on the school and the program. The average tuition fee for a full-time MBA program at a top business school is around $75,000 per year. However, there are many schools that offer tuition discounts and scholarships, so it is important to do your research and compare schools before making a decision.
We’ve mentioned the MBA fees in USA in the table below. The following is a list of the top 20 colleges for an MBA in USA, according to the 2023 US News & World Report rankings:
Domestic Student |
International Student |
||
|---|---|---|---|
|
16 |
Harvard Business School |
$80,438 |
$90,628 |
|
7 |
Stanford Graduate School of Business |
$105,441 |
$121,288 |
|
101 |
Wharton School of the University of Pennsylvania |
$87,370 |
$95,370 |
|
16 |
MIT Sloan School of Management |
$90,400 |
$98,600 |
|
82 |
Columbia Business School |
$81,306 |
$94,990 |
|
14 |
University of Chicago Booth School of Business |
$82,850 |
$92,850 |
|
18 |
Yale School of Management |
$114,816 |
$137,016 |
|
237 |
Dartmouth Tuck School of Business |
$97,471 |
$117,991 |
|
19 |
NYU Stern School of Business |
$126,874 |
$126,874 |
|
11 |
Northwestern University Kellogg School of Management |
$117,259 |
$144,975 |
|
36 |
University of California, Berkeley Haas School of Business |
$111,786 |
$124,041 |
|
12 |
Cornell University Johnson Graduate School of Management |
$135,358 |
$176,470 |
|
23 |
Duke University Fuqua School of Business |
$106,735 |
$115,038 |
|
7 |
University of Virginia Darden School of Business |
$73,830 |
$76,489 |
|
29 |
University of Michigan Ross School of Business |
$78,276 |
$103,316 |
|
42 |
University of Texas at Austin McCombs School of Business |
$52,550 |
$58,720 |
|
38 |
Washington University in St. Louis Olin Business School |
$132,400 |
$140,258 |
|
6 |
UCLA Anderson School of Management |
$117,398 |
$121,591 |
|
32 |
University of Southern California Marshall School of Business |
$147,365 |
$167,825 |
|
82 |
Emory University’s Goizueta Business School |
$143,800 |
$158,476 |
Note: All of these are close estimations given by the university which includes tuition fees, student activity fee, the technology fee, and the health insurance fee. They are subject to change.
Average Salary After MBA in USA
However, this number can vary depending on a number of factors, including the school you attend, your specialization, your work experience, and the industry you go into.
Here is a breakdown of the average salary after an MBA in USA:
School:
- Stanford Graduate School of Business: $248,766
- Harvard Business School: $235,000
- University of Chicago Booth School of Business: $205,000
- Massachusetts Institute of Technology (MIT) Sloan School of Management: $195,000
- Columbia Business School: $190,000
Specialization:
- Business Analytics: $120,000
- Consulting: $115,000
- Finance: $110,000
- Marketing: $105,000
- Operations: $100,000
Work Experience:
- 0-2 years of work experience: $100,000
- 3-5 years of work experience: $110,000
- 6+ years of work experience: $120,000
Industry:
- Consulting: $150,000
- Finance: $140,000
- Technology: $130,000
- Healthcare: $120,000
- Retail: $110,000
Below listed are the potential companies that you can get into and the average salary that they give according to market standards (Source: Glassdoor) if you do your MBA from one of the prominent institutions that have been given in the first table. Your after-MBA salary in USA will be:
|
McKinsey & Company |
Consulting |
$160,000 |
|
Bain & Company |
Consulting |
$192,000 |
|
Goldman Sachs |
Investment Banking |
$123,906 |
|
Boston Consulting Group |
Consulting |
$190,000 |
|
Morgan Stanley |
Investment Banking |
$171,180 |
|
Amazon |
Technology |
$154,000 |
|
Microsoft |
Technology |
$196,463 |
|
Alphabet |
Technology |
$140,000 |
|
Apple |
Technology |
$200,000 |
|
JPMorgan Chase |
Investment Banking |
$140,000 |
|
Citigroup |
Investment Banking |
$120,000 |
Median starting salary offered by companies to business school graduates worldwide in 2021, by degree type
(Source: Statista)
MBA in USA: A Considerable Decision
An MBA degree from a top USA business school can be a great investment in your future. The high-quality education, global exposure, and excellent career prospects that come with an MBA can help you achieve your goals in the business world.
If you are considering an MBA, I encourage you to research the top business schools in the US and consider applying. With careful planning and preparation, you can earn an MBA that will help you reach your full potential in the business world.
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Frequently Asked Questions
What are the different types of MBA programs available in the US?
What are the different specializations available in MBA programs?
What are the admission requirements for MBA programs in the US?
What are the costs of MBA programs in the US?
What are the job prospects for MBA graduates?
