Best MBA in USA

Top business schools in USA – Ranking, costs, salaries

 
Top American institutions need a promo just as much as the Pope needs to spell out his name at Starbucks. Everyone already knows!! A million international students, making up 5% of the total student population, pretty much says it all.

The United States of America has the highest number of globally prestigious institutions and over the years it has done an incredible job of turning their names into high quality brands. The MBA program, being one of the most lucrative professional degrees out there, enjoys a particularly privileged status when obtained from the crème de la crème of these American universities.

With all the top MBA employers belonging to the American soil, the country clearly has an overwhelming advantage in employment opportunities for MBA graduates, adding to the already convincing reasons as to why an MBA, in the USA, usually has a happy ending.
 

What makes USA so popular among MBA seekers?

51 of the top 100 MBA programs, ranked by the Financial Times’ Global MBA Rankings, are from the US. And there is good reason for such an uncontested reign over the realm of business education. The MBA degree itself originated in the country as a means to provide a scientific approach towards business management.

It was University of Pennsylvania’s Wharton which began its first version of training its students, back in the late 1800s, with the aspects of managing a successful business – accounting, finance, legal, marketing, operations, and more.

Dartmouth’s Tuck took it further to an advanced degree while it was none other than Harvard which conferred the first MBA. The rest of the country, and gradually the whole world, began to appreciate this American model of providing its students, and the future managers, with an academic training vs letting them figure it out on the job.

USA is also the world’s largest economy with the most GDP per capita in the world. While China is catching up, the US dollar is still quite high and mighty. This flourishing economy is famous for housing large corporations with some of the largest market capital.

For instance, 41% of the Financial Times Global 500 rankings, from 2015, were US based companies. These corporate giants are also some of the largest employers in the country, creating a large demand for MBA trained management, among other specialized employees.

Thus, there is quite a happy balance feeding into the system which creates some of the best management graduates to be recruited by some of the most successful corporations. And that is one of the reasons for the prosperity of the reputed US B-schools.

 

Multicultural Society

The American society has always been popular for immigrants. Well, that is how the America, as we now know it, essentially began. It is not only multicultural, it’s lifestyle, its arts, media, music, sports, and even some of the non-mainstream ideas like work habits, education system, and more, have had made a massive impression on the rest of the world, sometimes even permeating into otherwise hard-core traditional structures.

In fact, most foreign cultures grow up exposed to the US media, thereby already seasoning its people to the ways of American life. So, while students who travel to the US, for an education, face various shades of challenges (Read Experience of moving to the US from India and Cultural problems faced by Indian students in the USA), they still have the advantage of working in an environment with a universal language and a familiarity which maybe foreign but certainly not alien.
 

Quality of Life

As you can imagine, the country offers a world class education resource, and a wide scale of opportunities for international students who want to pursue a career, after graduation. One of the major challenges that students face is managing the cost of education, especially for an MBA.

There are multiple means to finance your education including scholarships, fellowships, assistantships, and even education loan which often creates a long-term debt burden, damping the satisfaction of accomplishing the degree.

However, if you are able to combat the tuition costs, MBA salaries are extremely rewarding, often ranging from $100,000 to almost $200,000, if you are so lucky. While expenses can vary between cities, we will tabulate some of the popular cities for a quick glance (Source: Numbeo).

Read

 

Per month New York City (NY) San Francisco (CA) Houston (TX) Chicago (IL) Seattle (WA)
Food $430 $470 $320 $320 $380
Rent for one BHK $1,800 – $3,000 $2,500-$3,200 $900-$1,400 $1,100-$1,800 $1,400-$2,000
Household Cost $1,100 $1,100 $800 $900 $1,000
Quality of Life Index* 129.2 154.9 159.4 146.7 173.7

*Overall quality based on safety, pollution, health, purchasing power, commute, climate, income, and cost of living. Higher the index, the better is the quality of life.

 

For comparison, the quality-of-life-index in Bangalore (India) is 118.1, Shanghai (China) is 72.6, London (UK) is 110.3, and Sydney (Australia) is 161.8.

With a high paying job, which is almost a given after an MBA, you can expect to live quite comfortably, enjoying the comforts and convenience of the famous American lifestyle.

 

International Student Scholarships

Almost all universities have some form of scholarship scheme to enable the talented to enjoy a subsidized education. For further details, we would urge you to explore the articles mentioned below.

 

Top Business Schools for MBA in USA

No. B-School World Ranking

(Financial Times)

Weighted Post MBA Salary
1 Stanford Graduate Business School #2 $195,300
2 University of Pennsylvania, Wharton #3 $181,600
3 Harvard Business School #4 $178,100
4 Columbia Business School #7 $172,600
5 University of Chicago, Booth #9 $168,200
6 Northwestern University, Kellogg #12 $164,300
7 MIT, Sloan #13 $165,700
8 University of California Berkeley, Haas #13 $168,700
9 Yale School of Management #15 $158,200
10 Dartmouth College, Tuck #18 $165,400

 

Full & Part Time MBA in Top B-Schools in USA

Program Name Duration Basic Tuition
Stanford University MBA 2 years $68,868/year
University of Pennsylvania – Wharton, MBA 20 months $136,420 full
Harvard University

MBA,

2+2 MBA

2 years $72,000/year
Columbia University, MBA 2 years $71,544/year
University of Chicago –Booth, Full Time MBA 21 months $69,200/9 months
University of Chicago –Booth, Evening/Weekend MBA 2.5 – 3 years $6,854/course

Courses required to complete degree: 20

Northwestern University – Kellogg, Two Year MBA 2 years $68,955/year
Northwestern University – Kellogg, One Year MBA 1 year $95,156
Northwestern University – Kellogg, Evening/Weekend MBA Accelerated 1 – 4 years

Traditional 1.5 – 5 years

$6,683/credit

Credits required:

Accelerated 15.5

Traditional 20.5

MIT – Sloan, MBA 2 years $71,000
University of California – Berkeley Haas, MBA 2 years $59,739/year
Yale School of Management, MBA 2 years $66,650/year
Dartmouth College – Tuck,

MBA

2 years $68,910/year

 

Executive MBA in Top B-Schools in USA

Program Name Duration Tuition
Wharton, EMBA 2 years $198,600 full
Columbia University, EMBA 2 years $196,200 full
University of Chicago –Booth, EMBA 21 months $189,000 full
Northwestern University – Kellogg, EMBA 2 years $201,120 full
MIT EMBA 20 months $161,000 full
University of California – Berkeley Haas,

EMBA

19 months $185,000 full
Yale School of Management, EMBA 22 months $172,000 full

 
Besides the above EMBA programs, some universities organize various short term, often customizable, certification programs for working professionals. For instance, Stanford organizes executive certification programs, Harvard manages the Program for Leadership Development (PLD) program, Tuck’s short-term executive education, and other various joint degree MBA programs.
 
With enough information to start your MBA endeavour, in the US, here are a few more useful links to help your cause. We will keep updating the links as we get wiser.
 

 
Source:1,2,3,4,5