Masters in Business Management USA: Top Universities, Fees, Requirements, Eligibility & Scholarships

A degree in business management prepares you for leadership roles in a growing market. Pursuing a Masters in Business Management in USA is an excellent way to develop advanced skills in strategy, finance, and operations. 

Management employment in the U.S. will grow faster than average from 2023 to 2033, with about 1.2 million annual openings. 

The US has top-tier business schools like Harvard and Stanford, offering world-class management programs. With this degree, you can be well-positioned to earn an average salary of around $80,000 (INR 68,38,720). 

This blog explores the best universities, program costs, eligibility, and career outcomes, providing the insights you need to study in the USA.

Masters in Business Management in USA: Overview

A Master's in Business Management in the USA is a postgraduate degree designed to provide recent graduates with essential business and leadership skills. These programs last about a year, focusing on strategic management, finance, and marketing, preparing you for various business roles.

This degree opens doors to careers as management consultants, project managers, and business analysts in various industries.

Here’s an overview of Masters in Business Management courses in the USA.

Before exploring the top universities in detail, let’s look at the key benefits of pursuing this degree in the USA.

Why Pursue Masters in Business Management in USA?

The USA is home to the world's most respected business schools, with over 508 institutions offering graduate business programs. This selection offers a unique educational experience with strong academics, practical application, and networking.

Here’s how studying Business Management in the USA can be beneficial.

• Top-tier Business Schools: The US is home to globally recognized institutions. Schools like Northwestern's Kellogg and Duke's Fuqua top the QS rankings for master's in management.
• Industry Connections: US business schools have deep relationships with leading global firms. For example, top recruiting companies for graduates of Duke's Fuqua MMS program include major consulting firms like Deloitte, Boston Consulting Group (BCG), and McKinsey & Company.
• High Earning Potential: Graduates from top US programs command high starting salaries. For instance, the average base salary for graduates of the Duke Fuqua MMS Class was over $72,631 (INR 6.22 L).
• Diverse Specializations: You can tailor your education to your career interests. The University of Virginia's M.S. in Commerce program offers specialized tracks in Business Analytics and Marketing & Management. 
• Experiential Learning: Programs emphasize learning by doing. The University of Michigan's Ross Master of Management includes a capstone project where students work in teams to solve complex business problems for real companies.
• Powerful Alumni Network: Graduating from a top US school connects you to an influential global network. Alumni from schools like Columbia Business School hold senior leadership positions at Fortune 500 companies, providing valuable professional connections.

After understanding the benefits of studying a Masters in Business Management in the USA, let’s check out the top universities offering these programs.

Top Universities for Studying Masters in Business Management in USA

Top business schools in the USA, such as Northwestern's Kellogg School of Management, offer specialized master's programs that provide strong business foundations and high graduate employability. 

These programs are designed to prepare recent graduates for successful careers in consulting, finance, and management. You can explore options to study in the USA to find the right fit for your goals.

Here are the top universities to study for a Masters in Business Management in USA.

Apart from these top-tier business schools, there are many other institutions that offer excellent and highly-regarded programs. Let’s explore them.

Popular Universities for Masters in Business Management in USA

While admission to the top programs is highly competitive, many popular universities offer excellent alternatives. For example, Indiana University's Kelley School of Business has an MBA acceptance rate of 27.3% in the most recent admissions cycle

Below are some popular universities for students.

After exploring the popular universities for a Masters in Business Management in USA, let’s take a look at the eligibility criteria.

Which US universities are best for Masters in Business and Management?

The USA offers several top-tier universities for pursuing a Master’s in Business and Management, known for their quality education, global recognition, and strong industry connections. Here’s a list of leading institutions:

Students seeking a Master’s in Business and Management in the USA should consider universities like Harvard, Stanford, Wharton, MIT Sloan, Columbia, and Chicago Booth, which provide world-class education, access to top recruiters, and strong alumni networks to support career growth.

Eligibility Criteria for Masters in Business Management in USA

Understanding the eligibility criteria for top US business schools helps you prepare a strong application. Requirements typically include a bachelor's degree, a competitive GPA, high scores on the GMAT or GRE, and significant professional work experience.

International applicants must also demonstrate English proficiency. Once you are accepted into a program, you can apply for an F-1 student visa.

Here are the eligibility requirements for a Masters in Business Management in the USA.

Now, let’s take a look at the application process for studying a Masters in Business Management in USA.

Application Process for Masters in Business Management in USA

The application process for top US business schools is highly structured and competitive. You will need to apply through each university's online portal, submitting documents that showcase your academic abilities, professional experience, and leadership potential. Once your admission is confirmed, you must apply for a student visa to begin your studies.

Here is the step-by-step process to apply for a Masters in Business Management in USA.

• Step 1: Submit Your Application: Complete the online application with your personal details, academic background, and essays on your career goals and leadership experiences.
• Step 2: Provide Required Documents: Submit the following documents as needed:
  • Academic transcripts
  • Proof of English language proficiency (e.g., IELTS, TOEFL)
  • Letters of recommendation
  • GMAT or GRE standardized test scores.
  • Statement of Purpose (if required)
  • Resume/CV (if required)
• Step 3: Attend an Interview: Most top business schools require an interview as a key part of the selection process. Be ready to discuss your career goals, leadership examples, and why you are a good fit for their program.
• Step 4: Track Your Application: Monitor your application status on the university portal and promptly respond to any additional requests for documents.
• Step 5: Apply for Your Student Visa: Once accepted, you will receive an I-20 form from the university, which you need to apply for your F-1 student visa. The process includes submitting:
  • The acceptance letter and I-20 form from the university.
  • The completed DS-160 online visa application form.
  • Proof of financial support
  • Visa application fee of $535 (INR 46.1K)
  • Passport-sized photographs
  • SEVIS fee payment confirmation

After discussing the steps in the application process, let’s take a look at the curriculum for Masters in Business Management courses in USA.

Curriculum Details for Masters in Physics in USA

In a Masters in Business Management program, you will study core subjects like finance and marketing, with options to specialize in areas such as business analytics or entrepreneurship. These courses are essential for building the analytical and leadership skills needed for management careers.

Internships and case competitions provide practical experience, connecting classroom learning to business challenges faced by top companies.

Here’s a typical curriculum for a Masters in Business Management in USA.

After exploring the curriculum for a Masters in Business Management in USA, let’s take a look at the cost of studying this program.

Cost of Pursuing a Master's in Business Management in USA

The cost of studying in a top-ranked Masters in Business Management or MBA program in the USA is around $74,910 (INR 63.8L) per year. In addition to tuition, you should budget approximately $20,000 to $25,000 (INR 16.7L - 20.8L) annually to cover living expenses like housing, food, and health insurance.

Here is the cost of living in the USA for Masters in Business Management.

Note: The INR conversion is based on the current exchange rate.

Students can apply for financial aid, such as scholarships, to help manage these expenses. Let’s explore the details.

Masters in Business Management in USA: Scholarships for Students

Financing a Master's degree in the USA is a key part of the planning process. Many scholarships are available specifically for business students, which can significantly reduce your financial burden and make your studies more affordable.

Below is a breakdown of internal and external scholarships to study in the USA for Indian students.

Internal Scholarships

Internal scholarships are offered directly by business schools to their admitted students and are funded by the university or its alumni. For example, the Stanford Graduate School of Business offers the Reliance Dhirubhai Fellowship specifically for students from India.

Here are some internal scholarships for students:

In addition to university-specific aid, you can also apply for broader external scholarships offered by foundations and governments.

External Scholarships

Beyond business school scholarships, you can explore external awards for graduate study in the USA. For Indian applicants, programs like the Fulbright-Nehru Master's Fellowships can cover the full cost of a master's degree.

Here are some prominent external scholarship options:

Next, let’s explore the job opportunities available for students after completing a Masters in Business Management in the USA.

Job Opportunities After Masters in Business Management in USA

The average salary for a graduate with a Master's in Management in the USA is approximately $1,754 (INR 1.46 L) per week. This translates to an annual salary of $91,208 (INR 76.1 L). 

This degree provides you with critical skills in leadership, strategy, and data-driven decision-making, preparing you for high-impact roles like management consultant and marketing manager.

Here are some potential career opportunities after a Masters in Business Management in USA.

Source: Indeed, Glassdoor, Payscale. 

Note: The INR conversion is based on the current approximate exchange rate. 

Now, let’s check out some of the top companies hiring graduates with a Masters in Business Management.

Top Recruiters Hiring Graduates in Masters in Business Management in USA

A Masters in Business Management from a US university prepares you for careers at the world's most respected companies. 

Top consulting firms like McKinsey & Company and Deloitte, along with Fortune 500 corporations like Amazon, actively recruit graduates for leadership and strategic roles.

Below are some top companies hiring graduates.

Source: Glassdoor, Indeed

Finally, let’s see how upGrad can help you realize your dream of studying abroad.

How Can upGrad Help You Study Masters in Business Management in USA?

Applying to top US business schools can be a complex and competitive process. upGrad helps simplify this entire journey by providing dedicated expert support, making sure your application is strong and your path to studying abroad is manageable.

Here’s how upGrad can help you:

• Personalized Mentorship: Get one-on-one guidance from mentors who understand the business school application process, helping you make confident decisions about your program and career.
• Application and SOP Review: Receive expert feedback on your Statement of Purpose and overall application to highlight your leadership potential and business sense, which is critical for management programs.
• Test Preparation: Prepare for required tests like the GMAT, GRE, TOEFL, or IELTS with focused coaching and study materials to achieve a competitive score.
• Visa and Scholarship Assistance: Get step-by-step help with your student visa paperwork and find scholarship opportunities to reduce your financial burden.
• Post-Graduation Support: Gain access to career services that help you find internships and full-time positions at leading companies in fields like consulting, finance, and marketing after you complete your program.

Do not put your plans to study abroad on hold. Book a 1:1 session with upGrad experts, apply with confidence, and build a strong foundation for a successful business career.