Considering pursuing an MBA at a highly ranked university or business school in the USA? Great decision! However, the tuition fee alone for an MBA in the USA can be relatively higher than that in India. Furthermore, there are several universities and business schools to choose from such that you do not understand which programme is the right fit for you. Hence, we have compiled a list of top b-schools in USA for you to evaluate and decide which MBA programme suits your higher education needs.
Before we begin, let us understand what makes the USA an attractive study destination that attracts students from all over the world.
Why Study MBA at a Business School in the USA?
It is not surprising that of the top 100 business schools in the world, a large number comprises business schools and universities from the US. In a recent ranking of the top 25 business schools ranked globally, 13 colleges were from the USA and this credits to the high quality of the American education system. Furthermore, the USA being the largest economy in the world offers excellent employment opportunities to postgraduate students upon graduation. From technology to financial services, MBA graduates can find high-paying jobs in various industries of their interest. Moreover, given that American business schools enjoy global dominance on various rankings, it is not very difficult for students graduating from these institutions to find jobs in a different country.
Now that we know what makes the USA a lucrative study destination, let us look at each of the top b-schools in USA and the various programmes they offer:
1. Stanford Graduate School of Business (CA)
Stanford Graduate School of Business, located in California, is the world’s leading business school. Ranked first by QS, the business school offers a two-year, full-time MBA program and a wide range of dual-degree programmes. During the first year of the two-year full-time MBA programme, students take core courses and in the second year of the programme choose electives to specialise in a particular field of business. With a tuition fee of $74,706, not only is a Stanford MBA expensive but also competitive. The average GMAT score reported from the class of 2022 stood at 733. Furthermore, Stanford is famous for its extremely low acceptance rate of 6 per cent. However, accepted students enjoy strong career growth, particularly in the field of finance, after graduating and potentially earn an average salary of about $150,000.
2. Harvard Business School (MA)
Famous for its liberal arts programme, Harvard University offers a two-year MBA programme developed by its business school. The Harvard MBA, designed by HBS faculty, is a two-year full-time programme. Furthermore, it also offers doctoral programs in the eight fields of management such as business economics, accounting and management health policy (management), organizational behaviour, strategy, technology, and operations management. The tuition fee for an MBA at HBS is $73,440 and the average GMAT score of the class of 2022 was 730.
3. Kellogg School of Management, Northwestern University (IL)
Ranked third on the list of top b-schools in the USA, the Kellogg School of Management’s MBA programme is sought after by students keen on a marketing specialisation. The Kellogg School of Management offers a full-time MBA programme and is ranked first for its marketing courses. With a tuition fee of $74,871, the MBA class of 2022 had an average GMAT score of 727. In addition to an MBA programme, Kellogg also offers a certificate program for undergraduates and an MSc in Management Studies.
4. Wharton School of Business, the University of Pennsylvania (PA)
With a tuition fee of $80,432, the Wharton MBA programme is one of the most expensive and oldest MBA programmes on this list. Moreover, Wharton is famous for being consistently ranked in the top three of MBA rankings each year. The MBA curriculum taught at Wharton is highly sought after by those interested in a career in finance. With an average GMAT score of 722, the Wharton School of Business is quite competitive to gain admission into. Moreover, the Wharton MBA program offers a variety of flexible options for students to gain dual or joint degrees and also offers an executive MBA for senior executives.
5. MIT Sloan (MA)
The MIT Sloan School of Management offers a two-year full-time MBA programme that focuses on entrepreneurship and innovation. Situated in Cambridge in the greater Boston area, MIT’s MBA programme costs $77,168 in tuition fees. Furthermore, the business school also offers a doctoral program leading to a management ph.D. and an Undergraduate Program leading to a Bachelor of Science in Management. In addition to being ranked number one in most disciplines, MIT also features international rankings for having the most percentage of international students in a class at 33%.
6. Columbia Business School (NY)
One amongst the six Ivy league institutions, Columbia Business School offers a two-year full-time MBA programme and has an average GMAT score of 726. Columbia also offers a range of Masters of Science programs, these include MSc in Financial Economics, MSc in Management Science and Engineering and MSc in Marketing. Moreover, the business school offers a Doctoral Program in five areas of management and also provides executive MBA options. The MBA programme taught at Columbia costs $77,376 in tuition fees.
7. Haas School of Business, University of California, Berkeley (CA)
University of California Berkeley’s business school known as Haas Business School offers evening and weekend MBA programs. Although the flagship course is a two-year full-time MBA programme, the business school is also known for its one-year MSc in Financial Engineering program. Located at the centre of Silicon Valley, Haas Business School’s MBA programme is designed to suit the fast-paced tech ecosystem that it is centred around. With a tuition fee of nearly $64,652, the MBA programme is known for its holistic approach. Since UCB is a public university, Haas School of Business naturally becomes a top public b-school in US ranked on this list.
8. The Fuqua School of Business, Duke University (NC)
The Fuqua (pronounced Few-Kwa) School of Business offers four types of MBA programs – cross-continent MBA, daytime MBA, weekend executive MBA, and global executive MBA to cater to the needs of different types of students. The Global Executive MBA program is a 15-month programme designed for senior executives who possess at least ten years of professional experience. Furthermore, the business school also offers a doctoral program and currently offers programs of research and training in the areas of accounting, decision sciences, finance, marketing, management, and operations management. With an alumni network of 22,000, the Fuqua School of Business is well known for its strong alumni network.
9. The University of Chicago Booth School of Business (IL)
The Booth School of Business offers a full-time MBA (21-month) and two part-time MBA programs (evening MBA and weekend MBA), a Doctoral Program and an n Executive MBA program. The Executive MBA program is offered in 3 locations: Chicago, London and Hong Kong. While investment banking and consulting are the two most prominent sectors students find jobs in, the business school has also enabled students to find jobs in healthcare and technology. The tuition fee of the MBA programme taught at Booth School of Business is $73, 440 and has an average GMAT score requirement of 724.
10. University of Michigan’s Ross School of Business, Ann Arbor (MI)
Located in the town of Ann Arbor, Ross School of Business offers a two-year full-time MBA. The MBA programme taught at Ross School of Business is unique in the way it is divided into two terms of 14 weeks each. Each of the two terms is further divided into two seven-week sessions and classes are taught within these 7-week sessions. While the first year focuses on core courses, the remainder of the programme allows students to choose electives to complete the 57-credit requirement needed to graduate. Only recently did the business school also introduce a STEM track to its MBA programme. With an average GMAT score requirement of 710, the tuition fee of the MBA programme stands at $66,048.
While each of the business schools mentioned on this list of top b-schools in USA has their own unique approach and speciality, they all rank consistently on global MBA rankings due to the quality of education, alumni network and employment opportunities they offer post-graduation.
Now that you know which are the top ten business schools in the USA, you’re better positioned to carry out your own research and plan your MBA preparation journey to one of these business schools.