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MBA in the US
Studying MBA in one of the US business schools can pave your path to success
Master of Business Administration (MBA) is one of the most sought-after degrees in the world especially for students who want to step into leadership roles in future. This degree equips students with the required knowledge of real-world business trends, situations and how to deal with them.
Why study an MBA in the US
The US is known for being home to the world’s most sought-after business schools offering state-of-the-art facilities, academic excellence, and promising career opportunities to help MBA aspirants make the most out of their studies. Some of the main reasons why studying MBA in the US is worth it include:
- Industry experience: US institutions emphasise on experiential learning via internships/ co-ops and various training programs providing with an opportunity to interact with industry leaders to prepare their students for future industry challenges
- Excellent career opportunities: Most of the Fortune 500 companies have their headquarters based in the US which increases the chance of getting selected in a reputed firm. Also, the nature of the jobs is more pivotal and includes leadership-oriented activities for key decision-making positions
The eligibility requirement for pursuing MBA varies from institution to institution. However, the basic criteria remain the same:
- A minimum of 16 years of education i.e., four-years of an undergraduate degree must be completed after school. However, some universities also accept 15 years of education
- Test scores of your English language proficiency test such as IELTS
- Test scores of GMAT or GRE with a minimum score of 600 or 300+ respectively
- A minimum of two to three years of work experience for some institutions
Note: Many US institutions do consider candidates with no work experience, however, students with work experience are always at a vantage point.
Cost of studying MBA in the US
MBA programs in most countries can be quite expensive. In the US, the average cost for these programs is approx. $35,000 yearly (indicative).
Read more: Cost of studying in the US
Most popular MBA specialisations in the US
Consulting: If you want to gain expertise in different domains (you can work in multiple sectors).
Business Analytics: This field is a combination of data and management and helps businesses analyse data strategically.
Finance: You’ll get a chance to manage the finances and funds of a company.
Entrepreneurship: You’ll learn how to develop a competitive business model using your knowledge, innovation techniques and available resources.
Operations Management: You’ll be equipped to help companies adopt the latest technologies and formulate strategies to maximise profits.
Information Systems or Information Technology: This is quite a booming area due to the introduction of the latest technologies such as automation and cloud computing systems. The demand for professionals with technical and management skills is evolving with time.
Career prospects for MBA graduates
Irrespective of the business conditions experienced by an economy, the demand for MBA graduates remains the same. Besides, the graduates with proficient business skills can prove their talent in:
- Consulting: Consulting firms compete fiercely for MBA graduates that ultimately drive their salaries upward. Factually, the three reputed consulting firms i.e., McKinsey, Bain, and BCG offer a base salary of $1,65,000, but by industry standards, the average salary for MBA graduates in management consulting jobs is close to $1,04,000
- Finance: After consulting, this is the most sought-after field where a graduate can work as a Financial Consultant, Finance Manager, Financial Analyst, or Finance Director and earn an average salary of $98,000 approximately
- Technology: MBA graduates with specialisation in technology can earn the highest average salary by industry at $1,12,000 approximately. While Chief Information Officers (CIOs) are offered an attractive package close to £2,02,000, product managers can earn an average salary of $1,01,000 and senior data analysts earn $87,000
- Marketing: MBA graduates with specialisation in marketing earn between $57,000 to $1,62,000, for positions ranging from a Marketing Specialist to a Vice President. Broadly, Senior Marketing Managers, Marketing Directors and Senior Product Managers may earn $1,08,000, $1,12,000, and $1,22,000 respectively
MBA is the perfect degree if you want to go for a leadership position. In the degree, you learn practical skills in management, leadership, and communication with specialised coursework. Besides, US business schools have a well-designed MBA program combined with ample experiential training and earning opportunities while studying.
In short, an MBA degree from a well-reputed US business school can be your golden ticket to get employed in highly competitive Silicon Valley tech companies or the Wall Street finance industry.
Given the current COVID-19 situation, there might be some changes in the 2021 intakes. Don’t worry, our international education experts are here to guide you with the latest updates to help you apply to your desired course and institution. Feel free to connect with our experts for a free counselling session and keep posted about the latest COVID- 19 updates.
Updated on March 16, 2021
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