MBA in USA

About the USA

USA or United States of America is a vast country consisting of 50 states and some self-governed Union territories. Most of its part lies between Mexico and Canada in North America and with a population of 328 million; it is the third most populous country in the World. The country has been leading the World with its technical innovations and scientific research. It has World’s largest economy in terms of net wealth and nominal GDP along with a forefront role in Education, technology, medical, business, military, computers, etc.

MBA programs in USA are no less. With being a superpower nation, the country provides an exceptional and exciting International environment and resources to shape your future in business and administration skills. With a large number of top Universities for MBA in the World and all other advancements of the country in the global economy and trade, the USA can be an ideal destination to pursue MBA.

Weather

The USA has a varying climate due to its large land that is descending from North to South. Most of its mainland has a cold semi-arid climate that turns into the drier and humid temperate climate in the South.

Its daily high temperature ranges from 21-27°C in summer to 10-16°C in winters. The temperature extremities vary greatly in the whole land due to several factors and physical conditions. But in general, it has a continental climate with cold and frigid winters and hot summers. Almost the whole country experiences sudden cold spells in winters but exact weather conditions of any place depend on its distance from the sea and its location.

MBA Colleges in USA

Why Choose USA for MBA

There are lots of reasons to go for USA to pursue an MBA degree. Some of these are:

1. Knowledge and Learning

The teaching system and syllabus of US Business schools have a better ‘practical’ orientation as compared to most of the Indian Business schools. This is because they give you the facility of arranging your curriculum and somehow pay more attention to the problems of the real world. Due to these specialties in the education system, more than one million International students get in the top business schools of the USA every year for MBA.

2. International connections

Studying in a foreign country with students of other different countries, culture and ideas widens the approach of your vision and helps you build some amazing international network that might be quite helpful after completing MBA.

3. Lifetime experience

Any abroad study course gives a lot of exciting experience in learning useful for a more successful life. As a student, you will get lots of interesting fun experiences in a foreign international business school. Not only this but exposure to a wider and more vibrant study campus and the environment will be all worth it.

4. More Opportunities

It is a very important and useful advantage of studying in USA. In US, opportunities after completing MBA will be quite more as compared to in India. America is a developed nation with a better position in business, education, or any other field. Hence, you will be having way better opportunities there at studying as well as in further career goals.

5. Top-Ranked Business school

US has some of the top-ranked business schools of the World like Stanford (#1), Wharton (#3), Howard (#2), etc. unlike Indian Institutions like ISB and IIM which are ranked #24 and #33 respectively in the world Business school ranking.

Eligibility for MBA in USA

Admission in most of the Business schools requires fulfillment of some particular eligibility. These schools are very particular and strict with the criteria so make sure you fulfill all the below eligibilities:

1. Graduation degree/ Diploma of at least 4 years after completion of 10+2 from an affiliated board of education are required. Candidate with a master’s degree is also eligible. A good score of at least 70% is required to impress the admission committee.

2. GMAT score of over 600 is a must for admission in any US Business school.

3. Qualified TOEFL (minimum 550-630 score)/IELTS (200-250 minimum score) exams to get English proficiency proof.

4. Experience of 2-3 years as a minimum depending on your other qualifications is also required as some best business school eligibility requirements.

5. LOR or Letter of Recommendation and SOP (Statement of Purpose) are also required.

What is Statement of Purpose?

Statement of purpose or SOP is an essay of about 1500 words describing yourself, your goals, future aspirations, vision, and achievements. It is an important part of your application for MBA admission in USA as many universities take it very seriously for the process of selection. This can be the only document distinguishing you from thousands of applications.

Some Tips to Write a Bang on SOP

• It should be original and not copied at all.

• It should cover all the important points like your introduction, dream, study options, future expectations in an orderly manner.

• It should be innovative but formal that can establish you as a suitable candidate.

What is Letter of Recommendation?

LOR is a document that has positive statements about you that reflects your potential and work quality by a third person or Institution. It must indicate the position of teacher or author writing it. You will be requiring about 2-3 LOR from different people as a part of your application.

How to get it?

Letter of Recommendation should resent you in the best light to strengthen your application for admission. They should show your skills, knowledge, and abilities to present you as a good applicant. You should ask for LOR to your college teachers and professors who know you positively in and out of the classroom. Choose those who are enthusiastic about writing LOR to students and have written at least some before he writes for you.
NOTE: Always ask before at least one month of application date to avoid any kind of delays and problems.

Admission Process for MBA in USA

The admission process for studying MBA from any well-established business school of US has several steps involved. But first, make a list of colleges and MBA programs you exactly want to apply for. Shortlist business schools, courses, and order of their application dates. It will give you a better vision to think about the next steps. It is practically impossible to apply for every college or business school in US. Therefore, you must firstly shortlist your choices in the course and University. Do a good research of all the Universities and Business schools to avoid any kind of future problems and regrets.
These are some aspects you can use to shortlist colleges:

• No. of Foreign student intake of the Business school

• Fee structure and scholarship programs

• Boarding and lodging facility

• Career opportunities after pursuing MBA

• Location and transportation

• Environment of campus and students reviews

• No. of platforms recommending it

After completion of this procedure, you have to get yourself updated with the application dates and deadlines.

Application Form

Application forms of most of the universities are available online on their official website. They can be downloaded or filled online as per the guidelines provided by the universities.

Once you get to know the application date and deadlines collect all the documents requiring the application form and prepare all the transcripts. It may take months to arrange all the documents including LOR and SOP in hand. So plan accordingly and wisely.

Documents Required for Admission

All school and graduation records including mark sheets and admission letters. These documents may be demanded in transcript and attested copies by some of the universities. It should include all colleges and universities you have attended and must be translated into English in case if transcript in any other language.

• Proof of any of the standardized tests for English proficiency like TOEFL, IELTS, etc.

• Proof of your score in the GMAT exam.

• Work Experience letter as proof of your working experience of at least 2-3 years.

• At least two LOR from reputed persons.

• Essay or Statement of Purpose (SOP).

• A detailed resume of the candidate in some cases.

Admission Deadlines

Most American universities and business schools have their admission deadlines in Fall. They lie between the start of September month till the end of November and sometimes even the start of December.
Decisions of applications are taken within 30-45 days after the deadline period.

VISA Requirement

Once your selection is confirmed by the College authorities, the next step is applying for US student VISA. This is a process of about 1-2 months which requires fulfilling all the requirements stated by US Immigration Act and other formalities.

Documents required for VISA application

• Student application form with all documents and details.

• Letter of Acceptance from an American University or Business school.

• Completed Supplementary Questionnaire for students.

• Bank Draft or Cheque as a VISA application fee.

NOTE: Proof of funds is also required to show the authorities that you have enough economical potential to bear the cost of travel, stay, and study in America for at least 12 month period. For admission to American business schools and universities, these proofs are provided at the time of completion of admission by the university. I-20s are issued by the Universities only after these proofs are provided. Each university has its different requirement of proof of fund which depends on the fee details it provides.

Documents that can Act as Proof of Fund:

1. Bank account statement
2. Loan approval letter
3. Scholarship letters
4. Sponsorship or Affidavit of support
5. Property evaluation report
6. CA certificate
7. Bank letters
8. Loan capacity certificate

Interview

An Interview with a VISA officer may take place in some cases where basic questions about yourself and reason for you going to USA can be asked.

Medical Examination

This is the final stage for getting Canadian VISA. The applicant must be in good health to pass this medical test.

MBA Course duration in USA

The duration of MBA full-time course is two years. But there are some accelerated and part-time MBA programs by many universities that have one-year course duration.

Syllabus for MBA in USA

Syllabus for MBA is similar in all the universities of USA. Each university has all the important fields and topics in its curriculum for MBA. The two year course starts with the core subjects in the first year and topics like Entrepreneurship, Business laws, Strategy Management, projects study, etc. in the second year.
List of topics covered in each semester is given below:

First Semester topics

• Organisational Behaviour

• Business Communication

• Marketing Management

• Human Resource Management

• Managerial Economics

• Financial Accounting

• IT Management

• Business Communication

Second Semester topics

• Financial Management

• Management Accounting

• Management Science

• Organization Effectiveness and Change

• Operational Management

• Marketing Research

• Economic Environment of Business

• Management of Information System

Third Semester topics

• Elective Courses

• Business Ethics & Corporate Social Responsibility

• Strategic Analysis

• Legal Environment of Business

Fourth Semester topics

• Project Study

• Strategic Management

• Elective Course

• International Business Environment

Fee Structure

Due to world-class education and top universities, United States MBA programs cost about 3-5 times the approximated MBA fee in India and its neighbouring countries. Its wider and practical way of learning with well-equipped campus and infrastructure increases the cost of course. Most of the Universities and business schools have scholarship programs for students. But the generalized calculated fee is still high from many countries. Still the value and opportunities afterward make it quite worthy to invest in an MBA program.

The average tuition fee estimation for this two-year degree course is estimated to be $65,000. But with top universities and other factors, it may go to $1, 00,000, or even more.

This tuition fee figure also depends on factors like your choice of MBA program, public or private categories, and other co-curricular activities you enrol yourself in, etc.

Type of MBA in USA

Master of Business Administration is a popular program all over the world due to its rewarding future opportunities and reputation in the contemporary world. But due to different problems faced by the aspirants like lack of time, inability to study on campus, and other responsibilities, many universities of USA as well as the world have come up with a list of MBA options for students to choose according to their suitability and conditions.

Some of the most popular and recommended MBA types are:

1. Full-time MBA

This program is usually consisting of four semesters and two academic years during which first year and two semesters are used to build your core skills and basics of business aspects. Thereafter the second year gives students the flexibility to understand disciplines of their choices. Most applicants for this type of MBA degree are those with 3 or more years of working experience and want to have experimental and more advanced learning in the field of business. But this MBA requires the highest commitment of time that gives students unparalleled business school experience, professionalism, and speaker series.

2. Part-time MBA

If you are seeking flexibility in time and study hours, a part-time MBA can be something you can opt for. This MBA helps aspirants to complete their MBA degree without keeping their career on hold. Classes of such an MBA run outside of normal study hours to avoid the overlapping of candidate’s working and studying hours. In this MBA, you have the option to choose study hours for each semester i.e., you can go for two classes and complete your MBA in 4-5 years. This is a popular MBA designed for today’s working professionals and their problems.

There are mainly two formats of this Part-time MBA program:
i. Self-paced program
This program gives you the flexibility to choose the topics what and when you want to study. You can tailor the curriculum as per your schedule.
ii. Lockstep MBA program
This MBA program requires students to follow the same curriculum of professional MBA students.

3. Executive MBA

Also called EMBA, this MBA program is for executives, business professionals, managers, sub-supervisors, etc. who wish to enhance their career opportunities and educational qualifications so that their managerial abilities can improve. The course emphasized senior management skills, inter-relationships that professionals require in their work. In this way and more, this course is different from regular full-time and part-time MBAs.

4. Online MBA

This type of MBA is gaining popularity nowadays due to the approach of the internet in every region of the world that has made it possible for those unable to go for regular learning in Universities due to any reason. It involves face time lectures, GDs, along with the conventional study materials. Its curriculum and duration are different from other MBA types. It is the MBA course you can complete from home.

What are Specialized MBAs?

These are in-depth MBA programs in one field related to business administration to get a more targeted business field and experience afterward. If you think you are more interested in a business subject or field like entrepreneurship, finance, retail, etc. and are sure to go in that particular field then specialization in that field along with an MBA degree is possible through this course. This MBA program is gaining popularity as it gives a direction to your career.

Top Business Schools of USA for MBA

• Stanford University, Palo Alto, California

• Harvard University, Boston, Massachusetts

• Wharton, University of Pennsylvania

• University of Chicago, Chicago

• New York University (NYU), New York

• Yale University, New Haven

• Dartmouth College, Hanover

• Massachusetts Institute of Technology (MIT), Massachusetts

• Columbia University, New York

• University of California, Los Angeles

• North-western University, Evanston

• Princeton University, Princeton

• University of Michigan, Ann Arbour

• Duke University, Durham

• Cornell University

Brief Description of Universities

1. Stanford University, Palo Alto, California

Stanford University, California is ranked #1 in the QS World University Ranking for MBA programs. Founded in 1885, Stanford has 16,400+ students studying under 2219 faculty members. The Graduate business school of University teaches students to create ideas with a deeper understanding of business and management to develop insightful leadership that leads to innovations and betterment of the World.

2. Harvard University, Boston, Massachusetts

This is a private Ivey League University that is established in 1636. It is the oldest institution for higher education in US with 13000+ graduate and professional course students. The Global School of business under this University is known to provide global intelligence and learning with practical opportunities to prepare its students for real-life challenges and expertise the complex business situations.

Specializations

Accounting, Finance, Entrepreneurship, Marketing, Operational Management, International Business, Strategic Management, Consulting, Leadership, etc.

3. Wharton, University of Pennsylvania

Wharton is a private Ivey league Business school that was established in 1881 after a donation by Joseph Wharton. This business school is ranked #1 for EMBA program in QS world ranking and has a wide range of dual degree programs like MBA/JD, MBA/MArch, MBA/DMD, and so on. MBA/MA Lauder Joint-Degree in International Studies (Intl Studies) is also a new dual degree program started by Wharton for students interested in global management issues.

Specializations

Accountancy, Entrepreneurship, Finance, Human Resource Management, Leadership, Strategic Management, Consulting, International Management / Business, Venture Capital & Private Equity, Marketing, Information Management, Risk Management, etc.

4. University of Chicago

The University of Chicago, Booth School of Business was founded in 1898. It is ranked #8 in the QS World ranking for MBA and provides a variety of MBA programs. The school helps students to achieve the best thinking in the most critical and challenging business scenario. It encourages students to analyse their every idea along with all the statistics to get a new vision that is more creative than others. The average student age at this University is 28 years and has an employment percentage of 96%.

5. New York University (NYU), New York

NYU, Stern School of Business is a part of a private research-based University that was founded in 1831. The school has various degrees giving branches all across the globe that give integrating and advanced training to its students so that they can convert difficulties into opportunities. The students of NYU have access and teachings from top organizations, leaders, and professionals of their fields that help them adopt the most suitable attitude towards business and its administration.

Specializations

Accounting, Banking, Business Analytics, Entertainment and Media, Finance Global business, Luxury Marketing, Product Management, Real estate, Supply Chain Management, Leadership Management, Health care, Economics, and many more.

6. Yale University, New Haven

Yale is the third-oldest institution for higher education in US that was founded in 1701. It is also a private Ivey league Institution and one of the most prestigious universities in the world. Its Yale School of Management is established as an innovator to train management professionals with its highly integrated and updated curriculum and other study material. The school provides full-time and Executive MBA under well-qualified faculty and guidance.

Specializations

Accountancy, Accountancy & Financial, Entrepreneurship, E-Commerce / Business, IT Management, Marketing, Leadership, Operations Management, Public Administration, International Management / Business, Innovation / Knowledge Management, Human Resource Management, and many more.

7. Dartmouth College, Hanover

This College was established in 1769 and is the ninth oldest institution for higher education in US. Its Tuck School of Business is one of the best Ivey league institutions and provides leadership qualities, interpersonal skills, and diversity of experiences along with academic excellence. It has an employment percentage of 93% and requires about 4-5 years of working experience for admission.

Specializations

Finance, Accountancy, Pharmaceutical / Bio-Medical, Venture Capital & Private Equity, Banking / Financial Services, Marketing, Innovation / Knowledge Management, General Management, International Management / Business, Real Estate, Retail / Consumer Goods, Strategic Management, Entrepreneurship, Leadership, Consulting, Accountancy & Financial, and Operations Management.

8. Massachusetts Institute of Technology (MIT), Cambridge

MIT is a private research university with a campus area of more than a mile. It was founded in 1861 known for its innovations and prestigious status in the world. About 96 Noble Laureates have been graduated from this University. MIT’s Sloan School of Management offers two types of MBA programs- Full-time and Executive. Its education system involves classroom courses by world-class faculty and innovative projects and assignments designed by global institutions. Dual degree options and fellowship programs are also available.

9. Columbia University, New York

Columbia University was established on the grounds of Trinity Church in Manhattan in 1754. It is also a private Ivey league university with a global rank of #11. Columbia gives its students' qualities like flexibility, perseverance, and effectiveness to emerge as shining leaders with global recognition. Almost one-third of the total students in Columbia Business School are International which creates a natural diversity in thoughts and ideas on the campus that is followed by qualified faculty and results into some exceptional graduates in the field of business.

Specializations

Accountancy, Innovation / Knowledge Management, Finance, Health Care Management, General Management, Operations Management, Marketing, International Management / Business, Consulting, Human Resource Management, Entrepreneurship, etc.

10. The University of California, Los Angeles (UCLA)

This private research University offers about 330+ undergraduate and graduate degree programs and was the most applied University of USA in 2016 with about 119k applications. It is known as one of the public Ivey University of the country due to its high standards of education and affordability as compared to Ivey schools. Its Anderson school of Management teaches about three types of MBA programs under an award-winning faculty and world-class facilities.

Specializations

Accountancy, Innovation / Knowledge Management, Finance, Health Care Management, General Management, Operations Management, Marketing, etc.

11. North-western University, Evanston

NU was formed in 1851 and is known for its global status and maintaining quality with selectivity. Its Kellogg School of Management is a prestigious branch of the University with an impressive portfolio of MBA programs. It offers about five types of MBA programs and several joint degrees in different fields. This includes Accelerated MBA options also.

Specializations

Pharmaceutical / Bio-Medical, Retail / Consumer Goods, International Management, Environment, Accountancy, Finance, Entrepreneurship, and many more.

12. Indiana University, Bloomington

Kelley School of Business by Indiana University facilitates the professional development of students to a fine level with the help of life experiences and learning. It is a very reputed university with outstanding faculty members. It's ground-breaking and integrative approach to today’s business changes and the global market provides an edge to students to grow as successful business leaders in future.

13. University of Michigan, Ann Arbour

UM was founded in 1817 and is a public research University. Its Michigan Ross school of business provides action-based learning and strong foundation studies to train students to bring positive change in the world of business with their knowledge and learning. It also teaches a global MBA for those willing to study global business and management.

There are other MBA programs also such as Evening MBA, Weekend MBA, etc.

14. Duke University, Durham

Duke was founded in 1838 and is renamed several times. Its campus covers about 8600 acres of land and has an impressive architectural identity. It is one of the wealthiest Universities of USA with several Nobel laureates and researchers. Duke Fuqua School of Business is ranked #25 in the world ranking for MBA universities and provides a range of MBA programs.

15. Cornell University

Cornell was formed in 1865 by Ezra Cornell and Andrew White. The Cornell SC Johnson College of business is a collaborative and well-established Ivey league business institution with a high rank in the world ranking. The real-world business problem solving, small class sizes, balanced teacher-student ratio, selective recruitments make it an ideal and top choice for pursuing MBA from USA. It provides dual degree programs also.

Living and Other Expenses

Staying and studying in a foreign country can be quite expensive due to the difference in currency rates, lack of proper guidance, and improper calculation of expenses. It is a known fact that the USA is a developed country with a large number of expensive and sophisticated cities; this is why it can be economically draining to study and live there for years.

But some smart choices can be made by you to save large sums of money and have a better life there. Some of these are using public transport, choosing your stay in dormitories or shared apartments, going for economically viable food options, etc.

Here are some most recommended options to stay for International students in USA:

On-campus Dormitories

Most suitable for first-year students because it is affordable as compared to other options, helps you get familiar with students, and saves transportation cost also.

Off-Campus Apartments

Some Universities don’t provide on-campus dormitories. Then you can go for off-Campus shared apartments with 2-3 compatible roommates.

Homestays

It is like paying guest system. You will be living with an American Family living near your University. Separate rooms and food are provided.
 

Other Expenses