One of the most sought after courses today is MBA and there is no better place to go for the management education than USA which has several global top B-schools . While the number of students pursuing MBA in India is increasing with every passing year, a lot of students are also applying to foreign universities to obtain an MBA degree. Being the top destination for higher education, the USA attracts a lot of students every year.
Minglebox gives you a brief on the MBA degree in the US, its value, cost and job prospects post course completion.
The core courses in the MBA (Masters of Business Administration) program explore areas of business such as accounting, finance, marketing, human resources, operations management, etc. Students in MBA programs may take general business courses throughout the program or select an area of concentration and focus approximately a quarter of their study time on the chosen area.
Unlike the MS degree, the MBA is not a technical education degree. In MBA you learn the various aspects of business and managerial skills that help you run organizations and deal with people you do business with. Typically most part of the course deals with subjects such as corporate finance, accounting, marketing strategy, organization behavior, leadership etc. Subjects such as HR and finance are offered as electives.
Why study MBA in the US?
USA is commonly referred as the cradle of management education and the first MBA program in the world was started at Harvard in USA. If we look the field of management most of the theoretical structures and practical case studies come from USA. With highly qualified teaching and the best environment to showcase business talent, nothing beats the quality of US higher education.
An MBA degree from an Ivy League college will add great value to your education and increase your job prospects tremendously. As not everyone can get into an Ivy League college most students opt for other B-schools, among which are those that have also gained a lot of recognition. Most B-schools in the US offer diverse and specialized programs in MBA, thus creating excellent job prospects.
In a nutshell, an MBA in the US, though expensive, is immensely valuable. If you are dreaming to be an entrepreneur or become a CEO then the USA is your destination to gain the required skills.
What are the selection criteria for MBA in US universities?
- Most universities require you to have completed 16 years of education.
- The Indian three-year degree is not considered sufficient qualification for an applicant aspiring to an MBA in the US. You will have to complete a four-year course in an area such as engineering to be eligible for an MBA course or can take up a one or two years masters here to make up for it.
- Part-time diplomas and professional courses such as ICWA, CA are usually not considered. However, most US universities are now considering the Indian CA qualification.
- Most universities will not consider certificate courses provided by private institutions such as NIIT and Aptech. This again depends on the university’s admission policy.
- Having work experience is very much recommended as most US universities value it highly. You should have at least two to three years of work experience.
- All US B-schools require you to take up the GMAT. High scores on GMAT are essential to obtain admission to an MBA program. As an international student, you should also remember that a good GMAT score is important to obtain your student visa.
Most universities also expect applicants to submit their TOEFL scores.
What is the cost of MBA education in the US?
The cost of an MBA program varies from institute to institute. On an average, the annual course fee ranges from US$8,000 to US$35,000. For details on specific MBA programs and fee structures, it is always good to visit the official websites of the institutes.
What are the Scholarships available for MBA aspirants in the US?
Please read USA: MBA Scholarships
What are the job prospects?
If you are an MBA graduate from one of the best B-schools then you may rest assured that job opportunities are plenty. This does not mean graduates from other schools will not have good job offers. All MBA graduates usually receive good job offers. If your academic background is good and you have the right industry skills, you may even receive multiple job offers.
Top 10 B-Schools in USA (QS: Top MBA list):