Often touted as the land of dreams and opportunities, the USA is not only home to multiple, diverse cultures, but also multiple, diverse career prospects. A dream destination for many students looking to pursue their higher education, the USA has the largest MBA ecosystem in the world. Students graduating with an MBA degree from universities and business schools in the USA can expect to get the best return on investment, especially given the plenitude of specializations available – ranging from Finance to Business Analytics, HRM to Entrepreneurship. With the exposure and skill sets that you will develop at some of the best MBA colleges in USA, we have listed them below.
Did you know?
The USA is home to 2.8 million Indians, making it home to the second-largest population of Indians beyond the subcontinent.
Studying in USA is the most preferred abroad study destination for Indians, followed by the United Kingdom and Canada. The number of Indian students is expected to rise even further due to the motivating examples of Satya Nadella and Sundar Pichai. So, who wants to be the next Nadella or Pichai?
Without further ado! Come along!
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Why study MBA in the USA?
If you are aspiring to walk in the footsteps of these personalities and pursue a study in America, there are 6 things you must know about studying MBA in the USA and about the American education system:
To gain knowledge
The curriculum of the best B-schools will ultimately prepare you to face challenging situations and provide effective solutions for them. There are other ways to get information: you can browse the internet or talk to senior colleagues, but the environment you will get at a B-school will be completely different and will help you advance in your career.
Adding value to your profile
The skills you will acquire in an MBA program can eventually help you land senior management positions. This will eventually give you the opportunity to develop strategies and lead the organization, whereas previously you may have held less important roles in these organizations.
Career Advancement
Earning an MBA degree is synonymous with career advancement. After spending a lot of time on certain types of work responsibilities, people can start to feel somewhat stagnant. The thought of acquiring new skills that can help you get ahead of your peers and promise to advance your career is often a precursor to an MBA.
Self-Development
The entire MBA process will help you realize your true potential. A higher education degree will open up many opportunities for you as this degree is recognized worldwide and in different sectors. The curriculum is designed in such a way that you will come out a completely different person and have a completely different perspective on different things both professionally and personally.
Specialization
MBA programs also provide an opportunity to pursue a specialization in a particular field. Companies today are looking for candidates who are also well-versed in the industry and their business and can handle the nuances of the business well. This will not only improve your employment prospects but also ensure a promising career.
Networking
Getting an MBA from a top B-school will put you in a whole different league. At the Graduate School of Management, you will have the opportunity to meet some of the brightest minds who are going to be the business leaders of tomorrow. This will help broaden your perspective on various important issues.
10 best MBA colleges in the USA
Let’s look at the ranking lists of the 10 best MBA colleges in the USA for Indian students:
About the best MBA colleges in the USA
The USA is home to some of the best business schools and universities in the world. The following list mentions some of the top-ranked ones:
Stanford Graduate School of Business
Stanford Graduate School of Business is the world’s leading institute of business and management. It is one of the best MBA colleges in the USA. According to the QS Global MBA Rankings 2022, the business school is ranked number one in the world for its MBA program.
Highlights:
- The college was established in 1885.
- Along with the Stanford MBA program, the institution offers 2-degree courses – Stanford MSX and Ph.D.
- It has a high acceptance rate of 5.7% (2021). Currently, 35% of students enrolled at Stanford GSB are of foreign origin.
- The fees for an MBA program is Rs. 58.03 lakhs to Rs. 60 lakhs per year.
Harvard Business School
Harvard Business School is a graduate business school and part of the prestigious Harvard University. HBS is particularly popular in India because of its famous Indian alumni – Ratan Tata and Anand Mahindra.
Highlights:
- The college was established in 1636.
- It offers MBA programs along with online programs and executive education programs.
- The acceptance rate of the college clearly shows a tough admission as it only has a 10% of enrollment.
- The fees for an MBA program is Rs. 57.05 lakhs per year
Penn (Wharton)
This prestigious business school in the US has played an important role in transforming the study of business from commerce into an intensive and respected profession.
Highlights:
- The college was established as the university’s first business school in 1881.
- One can choose from more than 19 undergraduate majors, 19 MBA majors, and 9 doctoral programs.
- The acceptance rate for this college is 9% for the year 2020.
- The fees for an MBA program is Rs. 65.93 lakhs per year
MIT (Sloan)
The MIT Sloan campus is located along the Charles River in Cambridge, Massachusetts, USA. MIT Sloan School of Management is one of the most famous MBA colleges in the USA.
Highlights:
- The college was founded in 1914.
- It offers bachelor’s, master’s, and Ph.D. programs. Also offers an Executive Program in General Management: a 9-month program.
- The acceptance rate for the college is 11.5%.
- The fees for the MBA program is Rs. 72.8 lakhs per year
Columbia Business School
Columbia Business School is among the top 10 global business schools, according to the U.S. News and World Report. CBS has an excellent graduate employment rate of 94% after 3 months of graduation. International students get job opportunities from various sources such as campus interviews, corporate events, COIN job postings, and more.
Highlights:
- It was established in 1754.
- The B-school offers admission to 7 master’s programs along with various career-oriented research courses.
- In 2022, it has an acceptance rate of just 5%. Out of 687 applications, only 37 were selected.
- The fees for the MBA degree are Rs. 60.11 Lakhs – 99.39 Lakhs per year
Admission requirements in the best MBA colleges in the USA
- 3-or-4 years Bachelor’s degree from a recognized university or educational institution
- Academic Transcripts
- GMAT/GRE/GPA Score
- An English proficiency test such as IELTS or TOEFL or PTE or Duolingo
- Resume (CV)
- Statement of Purpose
- 2 letters of recommendation
- Work experience – 3-5 years of work experience (although it depends on the university)
It’s a wrap!
There you go! Loads of options to choose from. In fact, these best MBA colleges in the USA differ in rank because of fractional scores only. Not a major difference at all. Getting a college pedigree is a big thing in the industry today! The big packages go to them eventually!
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FAQs
Here are some of the best MBA colleges in the USA – University of Chicago (Booth), University of Pennsylvania (Wharton), Northwestern University (Kellogg), Stanford University, Harvard University, Massachusetts Institute of Technology (Sloan), Yale University, Columbia University, etc.
Pursuing an MBA degree for free in the USA is not easy, there is hardly any school that offers free programs. However, there are many universities that offer scholarships to study MBA in the USA.
After completing your MBA program, you are eligible for Optional Practical Training (OPT), which is a 12-month period during which you can stay and work in the US. This allows you to work in any industry related to your field of study.
Anushree has 4+ years of experience in the career counseling industry as a Senior Content Writer. She has also worked as a Social Media Marketing Expert for a startup and Content Quality Analyst for Publishing and E-learning Industry. She has done her Master’s in Commerce and PGDM in Finance & Trade and Marketing & HR, but she is currently following her passion for writing.
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