Have you dreamed of pursuing an MBA in the United States of America but felt discouraged by the high tuition fees? Or the prospect of starting your MBA journey with little to no work experience left you feeling uncertain. Worry not; we have got you covered!
MBA, or master’s in business administration, is a famous and prestigious postgraduate (P.G.) program that prepares students in different business fields like finance, marketing, human resources, etc. The MBA program opens up opportunities for aspiring students, especially in the USA, where the scope of business professionals is vast.
According to the U.S. News Ranking 2023, there are around 493 top MBA colleges in the USA. The top MBA colleges in the USA enhance students’ knowledge and serve as a platform for networking, skill development, and career growth.
Today, we’ll explore the top MBA colleges in the USA for 2023, grouped into three categories: top-ranked, affordable, and those that don’t require prior work experience. We’ll also delve into the MBA fees in the USA and the factors that influence the fees.
The table below shows the top MBA colleges in the USA with low fees:
|MBA Colleges in the USA||Location||1st Year Tuition Fees|
|Worcester State University.||Worcester, MA||5.14 lakh||1.5 years|
|Polytechnic University of Puerto Rico.||San Juan, Puerto Rico||6.69 lakh||1.5-2 years|
|Cameron University.||Lawton, Oklahoma||8.02 lakh||2 years|
|Southeast Missouri State University.||Cape Girardeau, Missouri||8.38 lakh||2 years|
|Northeastern State University.||Tahlequah, Oklahoma||9.27 lakh||1.5-2 years|
|Central Michigan University.||Mount Pleasant, Michigan||10.19 lakh||1.5-2 years|
|Minnesota State University.||Mankato, Minnesota||10.00 lakh||2 years|
|University of South Dakota.||Vermillion, South Dakota||11.61 lakh||1.5 years|
|Missouri State University.||Springfield, Missori||15.58 lakh||2 years|
|Lehman College.||Bronx, New York||18.17 lakh||1 year|
The eligibility criteria for the MBA colleges in the USA with low fees are as follows:
1. Completion of undergraduate (UG) degree from a reputed US college or institution or its equivalent in another country.
2. Submission of the following scores:
3. Proof of English Proficiency (in case English is not the applicant’s native language):
The table below shows the top MBA colleges in USA without work experience:
|MBA Colleges in the USA||Location||1st Year Tuition Fees (INR)|
|Wharton MBA (University of Pennsylvania)||Philadelphia, PA||69,97013|
|Chicago Booth School of Business (University of Chicago)||Chicago, Illinois||64,36,672|
|Columbia Business School (Columbia University)||New York||66,54,230|
|Yale School of Management||New Haven, Connecticut||65,32,510|
|Stanford Graduate School of Business||Stanford, California||63,62,996|
|Harvard Business School (HBS)||Boston, Massachusetts||60,72,754|
|Haas School of Business, University of California, Berkeley||Piedmont Ave, Berkeley, California||60,73,167|
|Stern School of Business, New York University (NYU)||New York City||68,07,537|
|Anderson School of Management (UCLA)||Los Angeles||5915070|
|Sloan School of Management (MIT)||Cambridge, Massachusetts||66,48,276|
The eligibility criteria of most of the MBA colleges in the USA without work experience are as follows:
Here is the list of universities in the USA for Masters in Business Administration ranking from 1 to 5 as per the latest US News Rankings 2023.
The University of Chicago (Booth), also known as Booth School of Commerce, is ranked first (tie) in Top Business Schools and first (tie) in Part-Time MBA. The curriculum at the Booth is grounded on business principles such as accounting, economics, psychology, sociology, and statistics. Students in the Full-Time MBA Program at Chicago Booth typically finish the program in 21 months (two academic years).
88.70 per cent
Full-time: INR 64.2 Lakhs per year.
From once being the US’s first Business School to now having the largest alumni network in the country, the Wharton School at the University of Pennsylvania stands in a tie with the University of Chicago (Booth). Students in the Full-Time MBA Program at Chicago Booth typically finish the program in 20 months (two academic years).
The university offers the following MBA specializations:
89.90 per cent
Full-time: INR 70,18,231 per year
Founded in 1908, the Kellogg School of Management has been ranked third in the U.S. News Ranking 2023 for its vibrant combination of students, faculty, alumni, and staff. The university offers both one-year and two-year MBA programs. Kellogg One-Year students begin with business fundamentals, Strategy, Management, and Organization, followed by Accounting and Finance courses suited to your level.
The two-year students study the nine courses under their MBA program in the first year. The courses include
During their second year, students need to complete a half-credit course in Leadership and Crisis Management.
86.4 per cent
Full-time: INR 89,31,843 per year
Founded around 150 years ago and rooted in educating students for lives of leadership and purposeful contribution; advancing fundamental knowledge and cultivating creativity, and accelerating solutions and amplifying their impact, Stanford University stands in third place with Northwestern University (Kellogg). The two-year MBA program at Stanford University mainly entails core requirements, distribution requirements, and electives.
During the course you will:
71.50 per cent
Full-time: INR 72.4 Lakhs per year.
Founded in 1636 as Havard Colleges, Harvard University (also called Harvard Business School) is a private Ivy research university in Cambridge, Massachusetts. The university provides a two-year, full-time MBA program that focuses on real-world practice. The university offers the following MBA specializations:
69 per cent
Full-time: INR 60,72,754 per year.
There are several factors that can influence the fees for top MBA programs in the US. Here are some of the most important ones:
Top-ranked universities like Harvard University, and Wharton School of the University of Pennsylvania, usually charge higher fees than less reputed ones.
Universities located in expensive cities in the USA like New York or San Francisco may have higher fees than the less expensive ones.
A one-year MBA program is usually less expensive than a two-year MBA program.
An MBA program offering specialized curricula or offerings usually charges higher than the ones with a general curriculum.
The top MBA colleges in the USA or any other country with renowned faculty and cutting-edge resources generally charge higher fees.
The top MBA colleges in the USA or any other country with a strong alumni network offering robust career services may charge higher fees.
The table below shows a comparative analysis of the MBA program of the top MBA colleges in the USA and India:
|Basis||MBA in India||MBA in USA|
|Course Duration||2 years||1-2 years|
|Course Fees||Between INR 20,000 to 40 Lakhs||Up to 90 lakhs|
|Entrance Exam||CAT, NMAT, IIFT, XAT, SNAP||GMAT or GRE|
|Fees Affordability||Comparatively Affordable||Highly Expensive|
|Work Experience Requirement||No Work Experience or 2 – 5 years||No work experience or 2 – 3 years for a full-time MBA or up to 10-13 year for Executive MBA.|
|Focus of Program||Theoretical knowledge||Practical knowledge|
|Networking||General Networking Opportunities||International Networking Opportunities|
|Average Salary per annum||INR 5 – 22 Lakhs||INR 40 – 10 Crore Lakhs|
|Exposure||Domestic Exposure||Global Exposure|
|Visa Requirements||No Visa is required.||Visa required.|
|Top Colleges||IIM Ahmedabad, IIM Calcutta, IIM Lucknow. IIM Bangalore, ISB SPJIMR Mumbai, XLRI Jamshedpur||University of Chicago (Booth), Wharton School at the University of Pennsylvania, Harvard Business School. Northwestern University (Kellogg) Stanford University|
Pursuing an MBA from a top-ranking college in the USA has both benefits and drawbacks. The benefits include
Yet, the leading MBA schools in the United States may be costly, with tuition and living fees totaling hundreds of thousands of dollars. Admissions competition can also be fierce, with acceptance rates as low as 5% at some colleges.
Hence, evaluate both the benefits and drawbacks of the MBA colleges in the USA before enrolling in one.
Evaluate numerous career choices to choose the right career path for yourself. Dive into our guide on Career Advice.
Yes, top MBA colleges in the USA offer scholarships or financial aid to deserving students. Some of the business schools also offer 100% scholarships to aid your MBA program.
The acceptance rate for top MBA colleges in the USA like the University of Chicago’s Booth School of Business and the Wharton School is 23.6%.
Yes, you can pursue an MBA online from top colleges in the USA. Top MBA colleges in the USA like Indiana University–Bloomington (Kelley) and the University of North Carolina–Chapel Hill (Kenan-Flagler) provide online MBA programs.
Yes, top MBA colleges in the USA provide job placement assistance to their students. Many of these institutions have dedicated career departments, offering a range of resources and support for placement. The job placement assistance includes.
1 One-on-one career coaching.
2 Resume and cover letter reviews.
3 Job search strategies.
4 Networking events.
5 Recruitment events with top employers.
The average starting salary plus bonus awarded to 2021 graduates was $105,684 among the 131 rated full-time MBA programmes as per the annual survey of US News and World Reports.
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