The USA has always been the first choice of international students who want to do their MBA or MS due to the high level of employment and opportunities available. When deciding to study abroad, especially in the USA, one of the main aspects that come into mind is the cost of an MBA in the USA. The tenure of an MBA in the USA is the same as in India which is two years. The cost of an MBA in the USA is approximately 65,000 USD annually, including tuition fees, which is a significant amount. So, if you are looking forward to doing your MBA from the USA, read the article until the end and get all your queries answered.
What Is The Cost Of Studying An MBA In The USA?
Expenses Incurred By Students Going To USA
If you are planning to study for an MBA from the USA, there are various expenses to keep a tab on. When you pay the tuition fees, you must bear a few other expenses, such as visa and application fees. Below is the table which includes all the costs incurred by students before going to USA:
Application Expenses
The application expenses for MBA students must include registration fees apart from application form fees for the particular university. All the application related expenses are mentioned in the table below:
| Expense | Amount (in USD) | Amount (in INR) |
| IELTS registration fee | $185–$195 | INR 15,350–INR 16,500 |
| TOEFL Registration Fee | $205 | INR 17,000 |
| GRE Registration Fee | $220 | INR 18,300 |
| GMAT Registration Fee | $275 | INR 23,000 |
| University Application Fees | Varies as it depends on the university’s admissions | |
Arrival Expenses
Arrival expenses include all the expenses needed to reach the destination, including the SEVIS fee, visa application fees, airfare, and others.
| Expense | Amount (in USD) | Amount (in INR) |
| Visa Application Fee | $185 | INR 15,390 |
| SEVIS Fee | $350 | INR 28,700 |
| Airfare | $390–$1300 | INR 32,000–INR 1,10,000 |
Post Arrival Expenses
After reaching the USA, you must pay for many expenses such as accommodation, phone bills, health and travel insurance, travel expenses from accommodation to college, and others. A few costs are listed below:
| Expense | Amount (in USD) | Amount (in INR) |
| Total Cost of Living with Off-Campus Accommodation | $1,504 | INR 1,25,267 |
| Total Cost of Living with On-Campus Accommodation | $1,850 | INR 1,54,085 |
| Phone Bills | Depends on your needs and telecom plan | |
Top MBA Colleges In USA & Their Tuition Fees
The average cost of MBA in USA may vary depending on the university you choose for an MBA. Top universities in the USA, including Stanford University, Harvard University, and the University of Pennsylvania, have different criteria for tuition fees. To help you understand the cost of MBA in USA, we have tabulated an estimate of the annual tuition fees in USD and INR below. The INR value will help you know the forecast of an MBA in USA for Indian students fees:
| Name of the University | Annual Tuition Fees (USD) | Annual Tuition Fees (INR) |
| Stanford University (Graduate School of Business) | $72,450 | 65,86,405 |
| Harvard University (Harvard Business School) | $73,440 | 66,76,640 |
| University of Pennsylvania (Wharton) | $73,200 | 66,62,880 |
| Massachusetts Institute of Technology (Sloan) | $73,440 | 66,76,640 |
| Columbia University (Columbia Business School) | $72,788 | 66,39,216 |
| University of Chicago (Booth School of Business) | $75,920 | 69,07,840 |
| Northwestern University (Kellogg) | $77,172 | 70,42,176 |
| University of California, Berkeley (Haas) | $73,221 | 66,65,139 |
| Yale University (Yale School of Management) | $72,850 | 66,47,200 |
| Duke University (Fuqua) | $72,672 | 66,28,032 |
Cost Of Living In USA For International Students
While studying for an MBA in the USA, a candidate has to bear all other expenses, not only tuition fees. The cost of living in the USA, apart from the fee includes accommodation, transportation, food, and others. The average price of living in the USA for international students is between $1,504 and $1,850. Check out the food costs, entertainment, and groceries, which is mentioned in the table below:
| Particulars | Cost (Monthly) |
| Off-Campus Accommodation | $525 |
| On-Campus Accommodation | $871 |
| Transportation | $70 |
| Food Cost | $527 |
| Utility Cost | $180 |
| Entertainment | $48 |
| Groceries | $52 |
| Clothes | $102 |
| Total Cost of Living with Off-Campus Accommodation | $1,504 |
| Total Cost of Living with On-Campus Accommodation | $1,850 |
MBA In USA Fees VS Other Countries
The MBA fees in USA are different from those in other countries as the standards of the country and their universities are different for all the countries. Compared to other top destinations for an MBA such as UK, Canada, Germany, USA, it is a bit on the pricier side, but it also offers excellent scholarships.
Below is the table which will help you get an idea of MBA cost in USA for international students, including high and low ranges both in US dollars:
| Country | Average MBA Fees (USD) | Low Range | High Range |
| USA | $55,000 | $40,000 | $100,000 |
| UK | $35,000 | $25,000 | $50,000 |
| Canada | $40,000 | $30,000 | $60,000 |
| Australia | $45,000 | $35,000 | $70,000 |
| Germany | $25,000 | $15,000 | $40,000 |
MBA Intakes In The USA
The acceptance letters for an MBA in the USA can arrive in 2-8 weeks depending on the college chosen by the students. Some of the top colleges put a timeline on the date by which notification on admissions will be sent. Given below are decision deadlines for some of the colleges offering MBA in the US:
| University | Decision Dates |
| Fuqua School of Business (Duke) | Early Action: October 19, 2023 Round 1: December 8, 2023 Round 2: March 12, 2024 Round 3: April 5, 2024 |
| Harvard Business School | Round 1: December 06, 2023 Round 2: March 27, 2024 2+2 Round: June 27, 2024 |
| Kellogg School of Management (Northwestern) | Round 1: December 13, 2023 Round 2: March 27, 2024 Round 3: May 08, 2024 |
| Stern School of Business (NYU) | Round 1 Deadline: December 1, 2023 Round 2 Deadline: January 1, 2024 Round 3 Deadline: April 1, 2024 Round 4 Deadline: June 1, 2024 |
| Ross School of Business (UMich) | Round 1: December 08, 2023 Round 2: March 15, 2024 Round 3: May 03, 2024 |
| Booth School of Business (UChicago) | Round 1: November 30, 2023 Round 2: March 21, 2024 Round 3: May 23, 2024 |
| Haas School of Business (UC-Berkeley) | Round 1: December 7, 2023 Round 2: March 21, 2024 Round 3: May 02, 2024 |
| Emory University (Goizueta) | Round 1: December 6, 2023 Round 2: March 20, 2024 Round 3: May 08, 2024 |
| Anderson School of Management (UCLA) | Round 1: December 14, 2023 Round 2: March 22, 2024 Round 3: May 17, 2024 |
| Columbia Business School | Round 1: Mid- December Round 2: Late March Round 3: Early May |
| McCombs School of Business (UT Austin) | Round 1: December 14, 2023 Round 2: March 21, 2024 Round 3: May 2, 2024 |
| Kelley School of Business (Indiana University) | Round 1: By December 20, 2023 Round 2: By March 15, 2024 Round 3: By April 30, 2024 Final Round: By May 31, 2024 |
Why Study An MBA In The USA?
The USA is an absolute powerhouse when it comes to top-ranked MBA programmes, with prestigious heavy-hitters like Harvard, Stanford, and Wharton consistently dominating global rankings.
Top Universities: Most of America’s business schools are considered the cream of the crop worldwide based on metrics like employability, return on investment, and alumni success by major ranking authorities like QS and the Financial Times. Scoring your MBA from any of these elite US institutions essentially sets you up for lifelong benefits and opportunities.
Learnings: While affordable one-year MBAs are common in Asia and Europe, the two-year full-time programme is the standard in the US. This model lets you build that core foundation in management, strategy, finance, etc. during year one, then really dive into specialised electives and areas of focus in year two.
Job Opportunities: The U.S. Bureau of Labor Statistics is projecting a massive 8% growth in management occupations from 2021 to 2031 – way above the average. Armed with that coveted American MBA, you’ll be positioned for potential roles like Business Analyst, Product Manager, Investment Manager, Marketing Manager, HR Manager and so many more.
FAQs
1. How much does MBA cost in the USA?
The average tuition fee for an MBA in the USA is 56,850 USD, and other expenses include food, accommodation, travel, and others.
2. Is MBA in the USA worth it?
An MBA from the USA is worth it, as top companies worldwide hire candidates from USA universities. Though you have to pay a hefty amount to get an MBA degree, it’s all worth it.
3. Is MBA cheaper in UK or USA?
The MBA from the UK is less expensive than the MBA from the USA, though the cost of an MBA in the USA will pay off as you get great opportunities after an MBA degree.
4. What is the cost of an MBA in the USA in Indian rupees?
The cost of an MBA in the USA varies depending on your university or course. On average, the cost of an MBA in the USA in Indian rupees is INR 37.5 Lakhs to INR 64 Lakhs.
5. What is MBA called in the USA?
In the USA, an MBA is known as a Master of Business Administration, and it includes various specialisations such as Human Resource Management, Finance, Marketing, Strategy, Business Analytics, and Operation Management.
6. How can I afford MBA in the USA?
Doing an MBA from the USA might be challenging for Indians as it is costly, but you can opt for scholarships from various institutes or take education loans.
7. Which country has the cheapest MBA?
Norway is the cheapest country in which to obtain an MBA degree as Norway does not charge tuition fees for its citizens or foreigners. So, you can opt for Norway and not worry about the quality of education as they do not compromise on the quality.
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I have done Bachelor’s in Culinary Arts from India and completed my graduation in the year 2022 .I am 22 years old. After graduation, I have done 1 year paid internship from USA .Now, I would like to take occupational experience and learn culinary skills and also do masters in Culinary arts.How can I find the college n best course / country where I can persue studying further