Cost of MBA in USA - Know MBA Fees in USA for Indian Students

Cost of MBA in USA - The USA is one of the most preferred countries to do an MBA and the primary reason is the quality of MBA programmes offered at US universities. The Global MBA ranking by the Financial Times has always had business schools in the US lead the rankings and it is no different in 2023. In the top 18 of the 100 business schools ranked across the world, 13 of them are from the US and this includes names such as Columbia business school, Berkeley, Harvard, Stanford, Haas, Kellog and others. While MBA is the most popular degree to study in USA for international students, it is one of the most expensive as well. MBA in USA costs range from $45,000-$77,000 per annum.

This Story also Contains

1. Cost of MBA in USA - Reasons to do an MBA in US
2. MBA in USA Cost - Types of MBA
3. Cost of MBA in USA - Tuition fees for MBA courses
4. MBA tuition fee at top US universities
5. Cost of pursuing an MBA in USA -Living costs
6. Cost of MBA in USA- Returns on your investment
7. Cost of pursuing an MBA in USA - Scholarships you can apply
8. Cost of MBA in USA - Reducing your cost

If you are aspiring to do your MBA from any of these universities in the US, then it will be worth your investment because you will gain much more in return compared to MBA in USA fees. This article attempts to give you a cost breakdown before you apply for a MBA degree in the US. Knowing the cost of pursuing an MBA in USA will help you infer whether it is worth doing an MBA in US.

Cost of MBA in USA - Reasons to do an MBA in US

There are many reasons that act in the favour of doing your MBA in USA. These include:

• Excellent quality of MBA programmes in globally recognised universities.

• Diverse MBA programmes and specialisations.

• High ratio between ROI and MBA in USA fees. Excellent career opportunities with high salaries in multinational corporations in the US.

• Internship opportunities at reputed companies in the US.

• Scholarship options to pursue your course and fund MBA in USA for Indian students fees that greatly reduce MBA in USA costs.

MBA in USA Cost - Types of MBA

The MBA fees in USA for international students will depend on the type of MBA programme you will opt for. Interestingly there are many types of MBA programmes that US universities offer. These include:

• Full-time MBA

• Part-time MBA

• Executive MBA

• Online MBA

Cost of MBA in USA - Tuition fees for MBA courses

Let us look at the MBA fees in USA for international students pursuing a full time course in some of the top universities in the US. The average cost of a full time MBA will be USD 60,000 per year. The exact fees for MBA in USA see wide variation among top universities. Most of the MBA courses in the US are for a duration of two years even though there are some accelerated MBA programmes of one year duration. The table below shows the average cost for MBA in USA in some of the top universities. The MBA fees in Indian rupees is also given.

MBA tuition fee at top US universities

Cost of pursuing an MBA in USA -Living costs

Apart from the tuition fee, you will have to take into account the living costs when calculating the average cost of MBA in USA for international students. MBA in USA fees are usually mentioned on the official websites along with living costs. The living cost is around $10000to$18000 per year which comes to $1000-$1500 per month. This expense includes the cost for accommodation, boarding, food, travel, books, clothing and entertainment costs. You will also have to include your travel expenses to and from India; purchases such as furniture, desktop, medical costs apart from what is covered by your health insurance; and additional costs such as expenses for social outings, weekend trips, etc.

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Cost of MBA in USA- Returns on your investment

In case you have decided to pursue your MBA in USA, it is important to know what will be the return on your investment compared to MBA in USA for Indian students costs. Another cause of concern will be placement opportunities after you finish your MBA. According to the Graduate Management Admission Council's June 2022 corporate recruiters survey the average salary of MBA graduates would be USD 115,000. The survey also pointed out that the average salary of fresh MBA graduates as compared to experienced graduates was almost similar. Prospects must calculate the ratio between ROI and MBA in USA fees for Indian students do determine feasibility.

The employment rate for MBA graduates is around 95% in the US and there are various job roles they can apply for. They can find jobs in areas such as finance, technology, HR , marketing, IT etc. Working in the US greatly improves your chances of getting a green card later.

An MBA degree from a US university has immense value and you can find high-paying jobs in other countries as well.

Cost of pursuing an MBA in USA - Scholarships you can apply

You can reduce the cost of doing MBA in USA by applying for scholarships. There are MBA scholarships for Indian students in USA. Here are some scholarships you can apply for to cover MBA fees in USA.

• Stanford Reliance Dhirubhai fellowship

• The India Trust Fellowship

• Akhtarali H. Tobaccowala Fellowship

• McComb’s Scholarships and Fellowships

• HBS Fellowship Programs

• McKinsey Award

• McGowan Fellows Program

• Meyer Feldberg Distinguished Fellowship Program

Some of these scholarships are fully-funded while others are partially funded scholarships. Even partially funded fellowships will significantly reduce your cost of MBA in USA for Indian students.

Cost of MBA in USA - Reducing your cost

If you are not willing to invest a huge amount of money in your MBA course, then you can opt for low cost MBA in USA for international students or opt for an online MBA. Universities such as the one at South Dakota, Cameron University and Lamar University provide low cost MBA degrees to international students.

You can also consider an online MBA which is not limited to a specific location or timing and has lower MBA fees in USA.

Another way to mitigate the cost of pursuing an MBA in USA is to do a part-time job while doing your MBA in US. Most universities allow you to do on-campus jobs while doing your management course.

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The cost of doing MBA in USA should not be a deterrent considering the fact that the returns you get in the form of a well-paying job or an exciting career. And in case you get a job in the US, you will have a chance to get a green card and permanently settle in the US.