Suppose you are convinced that you have to get your MBA degree from the USA. In that case, this blog will guide you through valuable insights such as the application process, key factors when choosing a university, and the benefits of studying in the USA.
Study in USA-Things to Keep in Mind While Searching MBA Programs
- Specializations Available: There are many specializations to choose from while taking up an MBA program, such as finance, marketing, entrepreneurship, health administration, and many more. Identify what you are interested in, and choose a program that best aligns with your interests and plans.
- What is the Rank? Not your rank in academics, but the Business School’s rank to which you are considering applying. Well, as with all ranks, the School/University rank can also be subjective, but still, they give you a general idea about the reputation of the school, faculty expertise, and how big the alumni network is. Also, try to learn about student satisfaction from that school through blog posts and other forums.
- Where is the School/Campus Located? The geographic location of the school can influence a lot of things, such as the experience you would gain and future career opportunities. It would also influence your cost of living, the job market, and the kind of cultural exposure you would be gaining.
- Cost and Financial Support: Of course studying in a country like the USA comes with huge cost, especially if you are coming from a financially weak background. You have to look at the tuition fee, the living expenses, and the scholarships or financial aid which vary from university to university. To help their students financially, universities provide research scholarship opportunities, loans, part-time work options, etc so the monetary burden of the students can be lowered.
- Visa Requirements: Understand the process of visa application to the US. Familiarize yourself with the requirements of an F-1 student visa and gather the necessary documents.
Top US Universities to Consider for MBA
1. Stanford Graduate School of Business (Stanford GSB)
The campus is located in the heart of Silicon Valley and is ranked as number 2 among the Business Schools. The MBA program of this school provides courses in Strategic Philanthropy and Impact Investing, Media Entrepreneurship, Investing for Good, Strategic Pivoting for your Next Chapter, and Making Social Ventures Happen by Attracting Financial and Human Capital. There are nine electives students can choose from if they want to specialize in any particular area: Accounting; Finance; Economic Analysis and Policy; General and Interdisciplinary; Marketing; Organizational Behavior; Operations; Information and Technology; Political Economics; and Strategic Management. The school provides opportunities such as the Social Entrepreneurship Program and Stanford GSB Impact Fund.
GSB requires its students to complete at least one global experience in their first year. This means either spending 4 weeks in a foreign country for a project, 8-10 days in a seminar location, 8-10 international study trips, or collaborating with students from Tsinghua University School of Economics and Management on academic projects. The total annual fee is USD 90,288.37. Students should feel a bit of relief because Stanford also provides financial aid to its students through loans and fellowships, but fellowships are only awarded to those in need. The amount granted is between USD 47,000 and USD 94,000 every year as financial aid through fellowships and need-based scholarships. If you are planning to take these aids, be prepared with your financial documents.
Most of the alumni of the MBA program from Stanford are either working as researchers or professionals in different industries. The curriculum is not theoretical, it is interactive with lots of research opportunities and exceptional faculty guidance.
2. The Wharton School-University of Pennsylvania
It was one of the first business schools in the USA and now has the largest alumni network. The MBA program at Wharton is quite flexible and focuses on analytical aspects and expertise in any subject. Students are constantly engaged, turning their knowledge into impacts in the 20-month duration of the program. The total cost for an MBA program including tuition and living expenses per year would be approximately USD 127,716. There are 21 electives in the MBA program from which students can choose the best course that aligns with their career goals.
The Majors offered under this program are Accounting; Business Analytics; Business Economics and Public Policy; Business, Energy, Environment, and Sustainability; Diversity, Equity, and Inclusion; Entrepreneurship and Innovation; Environmental, Social and Governance Factors For Business; Finance; Healthcare Management; Management; Marketing; Multinational Management; Operations, Information and Decisions; Organizational Effectiveness; Quantitative Finance; Real Estate; Social and Governance Factors for Business; Statistics; and Strategic Management. Some of these majors are STEM-certified business degrees. International students can opt for these STEM majors and can extend their F-1 visa after graduation.
There are various students in the MBA club varying from social, cultural, athletic, and professional. Wharton School also emphasizes diversity among its students, the MBA class of 2025 has 31% international students. The MBA Career Management Team of Wharton is engaged in connecting its students with a network of employers who range from Fortune 500 to start-ups. There are many special fellowships available at Wharton based on unique personal qualities, academic achievements, community involvement, etc. Some of them are the Chapman Taylor Family MBA Fellowship, Judith L. and William G. Bollinger Fellowship, Corporate and Foundation Fellowship, and many others.
3. Harvard Business School
The Harvard Business School is considered one of the top business schools in the world and ranks at number 9. A few of the reasons why it is a leading school are that it has high admission standards, job placements in top firms of management, consulting, technology, healthcare, and other sectors, a good alumni network, and excellent teaching methods. The School does not provide majors, but students can choose elective courses from the second year which include Accounting and Management; Business, Government and the International Economy; Entrepreneurial Management; Finance; General Management; Marketing; Negotiation, Organizations, and Markets; Organizational Behavior; Strategy; and Technology and Operations Management.
MBA can be part of research opportunities through various centers such as Global Research Centers and Arthur Rock Center for Entrepreneurship. One interesting aspect of this program is that the entire curriculum is a Case-based method, students are expected to read 500+ cases during the entire program. In this method, the cases are not only discussed in class with peers and professors, but sometimes the main protagonist of the case such as an industrialist might as well be present in the class to share their experiences.
The total annual cost including tuition fees and other expenses is USD 118,854, which can be reduced if you secure a scholarship. The School provides need-based scholarships of approximately USD 46,000 per year and almost 50% of the students receive them. The need of a student is determined through their past three years gross income, assets, socioeconomic background, and undergraduate debt.
4. Massachusetts Institute of Technology (Sloan)- MIT (Sloan)
MIT Sloan during admissions to their MBA program does not emphasize your future career goals but your recent achievements, because they are selective with their candidates. And the right candidate will eventually know what career path they want to be part of. You might be thinking, this is a technology-oriented institute, how come it offers a Business program? Well, the program comes under MIT Sloan’s Leaders for Global Operations (LGO) Dual Degree Program. It allows students to pursue an MBA degree along with an MS degree.
The School has many unique features such as a Sustainability Certificate which is given after students complete training on making responsible decisions in their careers. There are five core courses: Economic Analysis for Business Decisions; Data, Models, and Decisions; Communication for Leaders; Organizational Processes; and Financial Accounting. Students would have an option to write a thesis in their second year. The tuition fee for this program is USD 86,550. The students admitted to this program would automatically be considered for merit-based scholarships.
5. Colombia Business School
Colombia Business School’s MBA program has some versatile ways of teaching through some interesting methods such as Master Classes, the Individual Business, Society Curriculum, and Colombia Case Works. The School has more than 100 student organizations, an easily accessible alumni network, advanced research centers, and many events. The core curriculums taught in the MBA program are Lead: People, Teams, Organizations; Financial Accounting; Foundations of Valuations; Managerial Statistics; Strategy Formulation; Managerial economics; Corporate Finance; Business Analytics; Marketing; Global Economic Environment; and Operations Management along with elective classes.
The total budget for an MBA program from Colombia Business School would be USD 132,258 which increases 2% to 7% in the second year. There is financial aid from the School in the form of fellowships and scholarships to the new students as well as the continuing students. You would be automatically evaluated for a merit-based scholarship at the time of admission. The awarded scholarship amount can range from USD 25,000 per year to the full tuition fee coverage. There is a need-based scholarship too which ranges from USD 25,000 to USD 50,000 per year based on the student’s financial circumstances.
Career Opportunities
Most MBA graduates have a career path in alignment with the specialization they chose during the program duration, therefore, you would find MBA graduates in some of the high-paying jobs such as Project Manager, Digital Marketing Manager, Business Analyst, Finance Manager, Sales Manager, Product Manager, SAP Consultant, HR Manager, Business Operations Manager, Business Intelligence Analyst, Information Technology Manager, Medical and Health Service Manager, Operations Research Analyst, Management Consultant, Personal Finance Consultant, and many more.
The Application Process
There are certain steps that you have to follow when you are applying for an MBA program in any of the American Universities.
- Shortlist potential Business Schools based on your research and preferences.
- All universities would ask for the scores of the standardized tests, so be prepared for them and take these exams ahead of time. The standardized tests include the GMAT or GRE.
- You have to craft a compelling Statement of Purpose (SOP) that showcases your experiences, goals, and how suitable you are for the program. Make sure to secure strong Letters of Recommendation (LOR) from your professors, employers, or any other suitable person who can attest to your capabilities.
- Draw up a comprehensive resume or CV that highlights your academic and professional achievements.
- Some universities also take interviews after shortlisting candidates, be prepared for them by practicing some common questions that are asked.
Navigating through the application process of different universities for the MBA program can be complex and overwhelming. That is where professional study abroad consultants such as Contentholic can be extremely useful. We at Contenholic can provide you guidance through not only the application process but also through cultural adaptation and networking.
As you have seen in the application steps above, a well-written SOP can give you a higher chance of getting selected. Our professional SOP writers can help you craft a persuasive narrative by highlighting your best qualities and aligning them with the MBA program’s goal. Not only SOPs but our professional SOP and LOR writing services can also help you procure strong LOR from your recommenders.
Conclusion
In this blog, we covered how when you study in the USA for an MBA program, you get its benefits through many aspects. It can range from getting a world-class education, and networking opportunities with fellow students, alumni, and industry professionals. Getting an MBA from the US can give you career advancement, and broaden your global perspective.
Studying MBA in the US can be a rewarding experience that could transform your career as well as your personal life. By carefully researching the institutions, considering goals, and seeking professional study abroad consultants you can grow your plausibility of success. It is always a better option to leverage the expertise of professional SOP and LOR writing services to secure a successful admission.
