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, 42% of the Financial Times Global 500 rankings, from 2018, 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.
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).
- MBA jobs: Average salaries and what they mean
- Average MBA starting salary in USA, India – Compensation Trends
- Highest paying jobs for MBA graduates
- Average MBA salaries after 10-20 years for USA and Canadian business school graduates
- How average MBA salaries grew over time in USA, Europe, Asia
|Per month||New York City (NY)||San Francisco (CA)||Houston (TX)||Chicago (IL)||Seattle (WA)|
|Rent for one BHK||$2,000 – $3,200||$2,800-$3,400||$950-$1,400||$1,200-$1,800||$1,600-$2,000|
|Quality of Life Index*||141.8||172.4||168.9||155.9||188.9|
*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.
- Cost of MBA
- How to study abroad for free?
- Graduate Assistantship: Teaching and Research Assistant Jobs
- Guide to Education Loans to study abroad
- How co-signer student loans work
- Non co-signer student loans for international MBA
- Education loans without collateral for international MBA: Prodigy Finance
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.
- List of MBA Scholarships for Indian students
- MBA Scholarships for Women candidates
- Articles on MBA Scholarships
Top Business Schools for MBA in USA
(Financial Times 2019)
|1||Stanford Graduate Business School||#1||$228,000|
|2||Harvard Business School||#2||$205,500|
|3||University of Pennsylvania, Wharton||#4||$197,300|
|4||University of Chicago, Booth||#7||$185,900|
|6||Columbia Business School||#9||$184,100|
|7||University of California Berkeley, Haas||#10||$188,800|
|8||Yale School of Management||#11||$172,500|
|9||Northwestern University, Kellogg||#14||$170,800|
|10||Dartmouth College, Tuck||#15||$173,600|
Full & Part Time MBA in Top B-Schools in USA
|Program Name||Duration||Basic Tuition (Approx.)|
|Stanford University MBA||2 years||$73,000/year|
|Harvard University MBA,
|University of Pennsylvania – Wharton, MBA||20 months||$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
Courses required to complete degree: 20 plus LEAD
|MIT – Sloan, MBA||2 years||$77,200|
|Columbia University, MBA||2 years||$77,400/year|
|University of California – Berkeley Haas, MBA||2 years||$64,700/year|
|Yale School of Management, MBA||2 years||$72,400/year|
|Northwestern University – Kellogg, Two Year MBA||2 years||$73,400/year|
|Northwestern University – Kellogg, One Year MBA||1 year||$101,300|
|Northwestern University – Kellogg, Evening/Weekend MBA||Accelerated 1 – 4 years
Traditional 1.25 – 5 years
(Credits required: Accelerated 15.5, Traditional 20.5)
|Dartmouth College – Tuck, MBA||2 years||$75,100/year|
Executive MBA in Top B-Schools in USA
|Wharton, EMBA||2 years||$210,900 full|
|University of Chicago –Booth, EMBA||21 months||$194,000 full|
|MIT EMBA||20 months||$178,300 full|
|Columbia University, EMBA||2 years||$208,700 full|
|University of California – Berkeley Haas, EMBA||19 months||$194,000 full|
|Yale School of Management, EMBA||2 years||$187,500 full|
|Northwestern University – Kellogg, EMBA||2 years||$213,500 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.
- A complete resource for Business Schools in the world
- Business School Rankings in the world
- How important are MBA rankings?
- Best MBA in New York
- Is an MBA from USA worth it?
- 7 Reasons when an MBA is not worth it
- Is work-experience necessary for MBA?
- Top MBA in USA without work experience for freshers
- USA Business schools accepting second MBA applicants from India
- MBA without GMAT requirement in USA, Europe, India
- Best One-Year MBA Programs in the world
- Best Executive MBA Programs
- Best Part Time MBAs in the world
- Is a Part Time MBA worth it?
- MBA Syllabus & Subjects in USA and other countries