Best Business Schools in USA: Rankings, Courses, MBA in USA, Costs and Placements

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    Anam Shams

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    With more than 50 Business Schools of USA ranking among the top business schools abroad. The higher education institutions in the USA have turned their names into high-quality brands. With education giants like MIT, Harvard, Stanford, UPenn Wharton offering a variety of business programs, for students planning to study abroad in USA is rewarding both in terms of learning opportunities and post-degree careers.

    • As per Bureau of Labor Statistics more than 50% of the total international students apply for business & management courses in USA.
    • 91% of the total of over 960 employers eye an MBA graduate from the best business schools in the USA.
    • According to USA Department of Education, the USA has the world's largest MBA ecosystem with more than 125,000 students studying MBA in USA or other Business Courses in 2019.
    • Around 25% of companies in the USA hire international students completing their education from a business school in the USA.
    • With top MBA recruiters like Amazon, Apple, Bain & Company, BCG, Deloitte, Goldman Sachs, JP Morgan, McKinsey soiled in the USA, the country has an overwhelming advantage of offering great employment opportunities to its MBA & other business graduates.
    • The Salaries offered to MBAs from USA are highest in comparison to anywhere else in the world.
    Average Salaries by Region

    Best Business Schools in USA

    The US has one of the best institutions to study Business Administration in the world. The Top 3 Universities in the MBA Rankings 2020 by QS comes from the US. Although MBA is the main focus of these top universities, they also provide Undergraduate and postgraduate degrees in certain cases. Top 5 US MBA colleges are listed below along with their Global MBA Rankings and the types of degrees offered are listed below:

    University name FT Rankings QS Global MBA Rankings 2020 Degrees offered Salary Increase (%) Post MBA
    Wharton School University of Pennsylvania 2 1 BBA, MBA 107
    Stanford Graduate School of Business 3 2 MBA 117
    MIT Sloan 6 3 MBA  119
    Harvard Business School 1 5 MBA  110
    Chicago Booth 10 8 MBA  123

    Business Schools in USA: Specializations & Degrees

    As per QS MBA by Specialisation Rankings 2021, US Universities grabbed the top positions in many of the fields. Students here take many combinations of subjects or electives. In the first year, most students follow the same course of study which is the required curriculum and FIELD. Some of the most common specializations along with the stream are mentioned below:

    Course Name Specializations University offered in
    Bachelor of Business Administration (BBA) Accounting University of Pennsylvania, USC Marshall, Georgetown University, Bentley University
    Legal Studies University of Pennsylvania, Georgetown University
    Global Management University of Pennsylvania, University of California-Berkeley, 
    Bachelor of Arts International Studies St Louis University, Texas State University
    Bachelor of Science Business Analytics Southern New Hampshire University, Bentley University, Trinity University
    Masters of Business Administration (MBA) Human Resources Stanford University
    Consulting Columbia University, Harvard University
    Finance MIT Sloan, Harvard University, Stanford University, Chicago Booth
    Technology MIT Sloan, UC Berkeley, Stanford University
    Information Management MIT Sloan, North Western University- Kellog, Stanford University
    Marketing Harvard University, Stanford University, Chicago Booth
    Master of Arts International Business/ Economics American University, Hofstra University, University of Oregon
    PhD Finance Washington University, Temple University
    PhD Marketing Washington University, University of Dallas, Temple University
    PhD Business Administration University of Dallas, Temple University

    Best MBA Colleges in USA

    Though there are a plethora of options available to international students who want to pursue business studies in the USA, MBA is one of the most popular options. Some of the different types of MBA programs available for studying in the USA are as below:

    Type of Program Program Duration Best Business School for Program Average Work Experience Required
    Full-time MBA 1-2 years Stanford, Harvard, UPenn, Chicago-Booth, MIT 3+ years
    Part-time MBA Equal to or more than 3 years MIT, Harvard, Stanford, Columbia University 0 to 3 years
    Online MBA 2 years Indiana University, University of North Carolina, University of Florida 0 to 3 years
    Executive MBA 2 years UPenn Wharton, MIT, Yale, Northwestern More than 8 years of experience 
    Early Career MBA Equal to or more than 2 years Chicago-Booth, UPenn Wharton, UCLA 0 years 
    Global MBA 1-2 years Harvard, New York University More than 8 years of experience
    Certificate Program 1-2 semesters (differs by the business school) MIT, Harvard Not required

    Best Business Schools in USA: Undergraduate Programs

    The USA has a lot of Universities that offer Business Courses for Undergraduate Students. They generally last 4 years and the average tuition fees are around 40,000-50,000 USD/year. Some of the best universities providing BBA in USA are tabulated below along with fees, and other popular programs to pursue

    Program Name University Name Duration Fees (USD)
    The Huntsman Program in International Studies and Business The Wharton School, University of Pennsylvania 4 years 60000 
    Bachelor of Science in Business Administration University of California - Berkeley 4 years 32000-35000
    Bachelor of Science in Business Administration Marshall School of Business, University of Southern California 4 years 57256 
    Bachelor of Science in Business Administration McDonough School of Business, Georgetown University 4 years 46200 
    Bachelor of Arts in International Business Studies Saint Louis University 4 years 44700 
    Bachelor of Science in Business Analytics and Technology Trinity University 4 years 85000 

    Undergraduate Diplomas in Business Administration in the USA

    All full-time on-campus Undergraduate Business Courses in the USA lasts for 4 years and it is a matter of great financial burden. There are short certificate programs in the USA that offer Business Administration and some the Universities where these are available are:

    • Colorado State University
    • Kansas State University-Global Campus
    • UC Berkeley Global
    • Florida Christian University
    • University of California

    BBA Colleges in USA: Eligibility

    All the Universities in the USA have different eligibility requirements but the most basic requirements for studying Bachelor in Business Administration are Language Requirements and a basic course or degree relating to the subject. Some of the requirements for applying to the top universities in the USA are:

    • High School Diploma or equivalent from an accredited school or college.
    • Minimum GPA of around 2.0 to 3.0.
    • Language requirements: IELTS: 6.5 or above; TOEFL: 80 or above
    • Minimum 1500 on the 75th percentile on SAT score
    • Minimum 29 on the 75th percentile in ACT score

    There may be specific requirements depending on the University but IELTS, TOEFL, and PTE are the basic requirements for studying Undergraduate in Business Administration in the USA.

    BBA Colleges in USA: Fees and Funding

    The cost of attendance in the USA is comparatively higher when compared to other countries. But one thing that sets the USA apart is the availability of scholarships in every level of education. University-specific Scholarships will be hard to come by for the undergraduate international students, but there are a lot of private scholarships available for undergraduate students. Some of the University specific Scholarships are:

    • International awards at Saint Peter’s University, USA
    • Deans Scholarships for International Students at Fordham University, United States
    • Presidential Scholarships for International Students at Fordham University, USA

    There are various other scholarships available for an international student pursuing bachelors in the USA. Applicants must ensure that they apply for these scholarships in time to ensure that they have proof of funding. This will be required while making university as well as USA study visa applications.

    Best Business Schools in USA: Postgraduate Programs

    The USA is at top of the World Rankings in MBA programs with the top 3 places firmly in its hands. A global standing is available to masters in business degrees from USA. Even though there are plenty of programs available to study, MBA is not only just the most popular choice but also an obvious one. The program lasts for 2 years and the average fees are more than 60000 USD. Some of the best universities that provide MBA in the US are:

    Program Name University Name Duration Tuition Fees (USD/year)
    The Wharton MBA Program Wharton University of Pennsylvania 2 years 81378
    MBA Program Stanford Graduate School of Business 2 years 74706
    MIT Sloan Fellows MBA Program MIT Sloan School 2 years 77168
    MBA Program Harvard Business School 2 years 73440
    MBA Program University of Chicago Booth School of Business 21 months 72000
    Master of Business Analytics MIT Sloan School 1 year 87740 
    MA in International Economics American University, Washington DC 2 years 40400 

    The image below discusses an overall ROI of various Business schools in USA offering MBA:

    Popular B-schoo fees V/s Weighted Salaries

    *Weighted Salaries are the average alumni salaries post three years of completion of MBA in USA.

    Postgraduate Diplomas in Business Administration in the USA

    According to Forbes, there has been a decrease in the number of students going for full-time MBA programs. In 2018, almost two-thirds of the MBA Colleges in the USA saw a decline in the number of students applying for an MBA. This mainly is because of the high tuition fees, this has made certificate programs a good alternative. Some of the Universities that provide Postgraduate Certificate Programs are:

    • Pepperdine University
    • University at Buffalo
    • Rutgers Business School
    • Chapman University
    • University of Pittsburgh

    MBA Colleges in USA: Eligibility

    The USA is the home to the best Business Schools in the world, the eligibility criteria are not the same for all the Universities. The best Universities have some of the strictest eligibility criteria whereas there are colleges where the eligibility is a bit lenient. Some of the common requirements for MBA in the US are:

    • 16 years of education before applying which is 4 years of education after 10+2+4
    • GMAT scores of more than 700 and GRE tests are also widely accepted. However, GMAT scores are preferred over GRE
    • Work experience of 2-10 years depending on the University
    • Language Exams: IELTS- 6.5 or more; TOEFL- 80 or more

    Tabulated below are some of the best business schools and their GMAT requirements:

    Business School Average GMAT Score
    The Wharton School 710
    Harvard Business School 730
    Stanford Graduate School of Business 737
    Yale School of Management 730
    Sloan School of Management 724
    Kellogg School of Management 724

    MBA Colleges in USA: Fees and Funding

    The US has hundreds of Scholarships for students applying for the Postgraduate Business Administration. There are University-specific Scholarships, Merit-based Scholarships, Subjects Based Scholarships, need-based Scholarships and so on. Some of the Scholarships for MBA aspirants are:

    Applicants from India can avail of specific scholarships in USA for Indian students. Some of the MBA scholarships for Indian Students are:

    Various other scholarships are available for masters students in USA. Find out more here.

    Best Business Schools in USA: Doctorate Programs

    A Masters Degree in Business Administration gives a student all the requirements to climb the corporate ladder but a doctorate in the field adds a special element to it- research. This helps the student to contribute in the field and helps him to venture into academics. Some of the Universities that provide Doctorate Degree in Business Administration in USA are:

    Program Name  University Name Fees (USD)
    Doctor of Business Administration (DBA) Washington University in St. Louis 1,30,320
    Doctor of Business Administration University of Florida 103200 
    Doctor of Business Administration University of Dallas 22750 
    Doctor of Business Administration St Ambrose University 54720 
    Doctor of Business Administration Temple University 124200

    DBA Colleges in USA: Eligibility 

    The USA has a lot of Universities where PhD Programs are offered in Business Administration. All the Universities do not have the same eligibility criteria. More prestigious universities have higher eligibility requirements. Some of the basic requirements are:

    • Masters Degree in relevant field
    • GRE scores
    • Language Tests: TOEFL: 95-100(internet-based); IELTS: 7-7.5
    • A writing sample is sometimes required

    DBA Colleges in USA: Fees & Funding 

    A PhD in the USA is typically funded, the admission letter contains the stipend as well as the expenses covered in the course. Some scholarships are also available for doctorate students in USA. The college knows that it is very difficult to pursue a PhD without any financial support thus they provide subsidized housing and lodging for the students.

    Best Business Schools in USA: Scholarships

    USA has hundreds of scholarships catering to the financial needs of the students. Be it Undergraduate program or Masters or PhD, all the levels of education are well funded. There are many types of scholarships available, like need-based, merit-based or even University or program-specific. Some of the Scholarships are mentioned in the table below:

    Scholarship Name University Name Eligibility Award (USD)
    Harvard MBA Scholarship Harvard University Meritorious international student Upto 34000 
    Wharton Fellowship Program Wharton, University of Pennsylvania High level of academic achievement Tuition fees and other financial aid
    Stanford GSB Financial Aid for International Students Stanford University Indian Student, Come to India for a professional career for 2 years
    80% of tuition and associated fees
    The Aga Khan Foundation Scholarship All Students from Bangladesh, India, Pakistan, Tajikistan and others
    Financial need
    Amount of award is 50% loan and 50% grant
    Columbia University need-based Scholarship  Columbia University Student must be enrolled in a full-time MBA at the University 7500-30000 USD
    BAU International Scholarship Bay Atlantic University International Student
    Subjects included are political science, MBA and economics
    Full tuition fees

    Find out all the scholarships available for studying in the USA, click here.

    Best Business Schools in USA: Jobs & Salaries

    An MBA degree from the USA is a high paying degree, it helps to increase the basic salary of an individual. On average there is a 29% hike after completing an MBA. A student completing a PhD will get a 23% raise from his MBA degree salary.

    Studying MBA in USA offers a high return, the graph below describes the pay increase of MBA graduates (within 3 years post MBA) compared to their Pre-MBA salaries:

    Percentage increase in Salary of MBA Graduate

    Some of the designations and the average salary post completion of a business course from USA are listed below:

    Designation Salary (USD/Annum)
    Marketing Manager 145000 
    Management Consultant 125000 
    Business Analyst 90000
    Financial Advisor 93800
    Administrative Manager 95700
    Human Resource Manager 125000 
    Product Manager 107000 
    Market Research Analyst 98400 
    CEO 200000 
    Professor 90000 
    • In USA an average person’s salary doubles by the time an individual crosses the 10 years experience mark.
    • The highest increase comes after completing the 5 years experience threshold which is 36%.
    • Average annual increment is expected to be 11% in this line of work as compared to 8% every 16 months for other professions in the USA.
    • About 25% of the population in this craft earn less than 81000 USD and 75% of them earn less than 161000 USD. This is quite high compared to other subjects and fields.

    The recent migration policy of the USA has been a little reserved, which has led to a lower number of Visa issued. This only means greater competition and best minds having the chance to complete their education in the USA. International applicants planning to pursue business programs should hence ensure good academic standing before applying for their dream business school in USA.

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