Masters in Business in USA: Top Universities & Programs

A Master’s in Business in the USA builds expertise in leadership, finance, analytics, and strategic thinking, preparing you for roles in consulting, tech, banking, and global business. 

According to the U.S. Bureau of Labor Statistics, the median annual wage for business and financial roles is $80,920 (INR 67.5L), well above the national median of $49,500 (INR 41.3L).

In this article, you'll get everything you need to know about studying in the USA at the top universities for a Masters in Business. It includes top universities, eligibility, course structure, tuition fees, scholarships, job prospects, and more.

Masters in Business in USA: Overview

A Master’s in Business in USA is typically a 1–2 year full-time program, offered as an MBA or MS in Business-related specializations. 

These programs combine classroom learning with case studies, internships, and global business exposure. You'll find options tailored for fresh graduates as well as experienced professionals.

Here's an overview of Masters in Business in the USA.

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

Before looking at the leading business schools, it's worth understanding why so many students choose the USA for their Masters in Business.

Why Pursue a Masters in Business in USA?

The USA is home to 6 of the top 10 global universities for Business & Management Studies, including institutions like Harvard, Stanford, and MIT, as per the QS World University Rankings. These programs combine academic depth with industry exposure, offering a direct path to high-paying global careers.

Here's why a Masters in Business in the US can be a smart career move:

• World-Class Business Schools: Top-ranked institutions like Wharton, Booth, and Columbia offer direct access to faculty with decades of industry and research experience. These schools have strong alumni networks and career placement services.
• Strong Industry Linkages: U.S. business schools maintain close partnerships with global firms such as McKinsey, Amazon, Goldman Sachs, and Google. This opens doors to internships, live projects, and post-graduate employment opportunities.
• Diverse Specializations: From Business Analytics and Marketing to Finance, Strategy, and Supply Chain, U.S. programs allow you to choose highly targeted concentrations based on your career goals.
• Flexible Course Formats: Many schools offer full-time, part-time, executive, and STEM-designated business programs that suit both fresh graduates and working professionals.
• OPT and CPT Benefits for International Students: International students pursuing STEM-designated programs (like MS in Business Analytics) can extend their Optional Practical Training (OPT) by up to 36 months, allowing for longer U.S. work experience.
• High Salary Potential: According to the U.S. Bureau of Labor Statistics, the median annual wage for business and financial occupations was $80,920 (INR 67.5 L).

Now, let's look at the top universities offering Masters in Business programs in the USA.

Top Universities for Studying Masters in Business in USA

U.S. universities like Harvard Business School, ranked #1 globally in the recent QS Global MBA Rankings, consistently lead in business education. These institutions offer access to experienced faculty, global industry networks, and strong post-graduation career outcomes.

Graduates from these programs often secure roles at top companies like McKinsey, Amazon, and Goldman Sachs within months of completing their degree.

Here are some of the top-ranked universities for pursuing a Masters in Business in the USA:

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

Beyond top schools like Stanford, several universities offer strong business programs with affordable tuition and solid career outcomes. Let's take a look.

Popular Universities for Masters in Business in USA

The U.S. has over 800 accredited business schools, offering a wide range of Masters programs beyond just Ivy League and top-tier universities. Many of these institutions provide excellent academic support, practical learning, and solid career outcomes, often at more affordable tuition rates. 

Schools like the University of Kansas and DePaul University are great options for students seeking quality education without the premium price tag of elite institutions.

Here are some popular and affordable universities for a Masters in Business in the USA:

Now that you've seen the popular universities for a Masters in Business in the USA, let's go over the eligibility criteria you'll need to meet.

Eligibility Criteria for Masters in Business in USA

Understanding the eligibility criteria for a Masters in Business in the USA can help you organize your application smoothly. Most programs require a relevant undergraduate degree, academic transcripts, and standardized test scores. 

While the GMAT or GRE may be optional at some schools, English language proficiency is mandatory for all international students.

Here are the key eligibility requirements you'll need to meet:

Now that you know the eligibility, let's go over the application process for U.S. business schools.

Application Process for Masters in Business in the USA

The application process for a Masters in Business in the U.S. generally follows a standard structure. You'll apply through the university's official portal, upload the required documents, and attend an interview if requested. Once admitted, you'll need to secure a U.S. student visa before the program begins.

Here's a simplified breakdown of the key steps:

Step 1: Submit Your Application
Complete your application form via the university's online portal. You'll need to fill in personal details, academic background, and program preferences and pay the application fee (usually $100 or approximately INR 8,300, depending on the university).

Step 2: Upload Required Documents
Prepare and upload the following documents:

• Official academic transcripts
• Proof of English proficiency (IELTS/TOEFL/Duolingo)
• GMAT/GRE scores (if required)
• Statement of Purpose (SOP)
• Letters of Recommendation (usually 2–3)
• Resume or CV (highlighting work experience, if applicable)

Step 3: Attend an Interview
Some business schools (especially for MBA programs) may conduct video or in-person interviews. These assess your motivation, leadership skills, and academic/career goals.

Step 4: Track Your Application
Use the application portal to monitor status updates and respond quickly to any missing document requests or next steps from the admissions team.

Step 5: Apply for Your F-1 Student Visa
After receiving your admission letter, start your U.S. visa application process:

• Submit Form DS-160 online
• Pay the SEVIS fee and MRV visa fee ($535 or INR 44.6K approx.)
• Schedule a visa interview at your local U.S. embassy
• Provide supporting documents: admission letter, passport, financial proof, and photos

Now, let's explore the subjects and specializations you'll come across during your Masters in Business in the USA.

Curriculum Details for Masters in Business in USA

In a Masters in Business program in the U.S., you'll build a strong foundation in management, finance, and strategy while choosing electives that align with your career goals. 

Specializations like Business Analytics, Supply Chain Management, and Marketing offer focused knowledge for roles across industries. Many programs also include internships, consulting projects, or capstones that connect classroom learning with real business challenges.

Here's a breakdown of what the curriculum typically looks like:

After reviewing the detailed curriculum for a Masters in Business in the USA, let's now examine the overall cost of pursuing this program.

Cost of Pursuing a Masters in Business in USA

The total cost of studying for a Masters in Business in the U.S. varies depending on the university, location, and program type (MS or MBA). 

According to reports, the average total cost of an MBA program is about $31,300 (INR 26.1L) per year, while full-time programs at top private universities can reach $46,700 (INR 38.9L) annually. 

At elite schools such as Wharton, Columbia Business School, and the University of Chicago Booth, the total annual cost can reach up to $88,000–$90,000 (INR 73.5L–INR 75.1L). This aligns with the broader range of $20,000–$65,000 (INR 16.7L–INR 54.3L) for a diverse mix of universities.

Here's a detailed breakdown of the average cost of studying and living in the USA:

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

Indian students can explore various financial aid options, including scholarships, to help reduce the overall cost of living while studying in the USA. Let's go over the details.

Scholarships for Masters in Business in USA

Each year, over 1.7 million scholarships are awarded across U.S. universities. While full-ride scholarships are rare (received by less than 1% of students), many partial scholarships and assistantships can significantly reduce your financial burden. 

Indian students pursuing a Masters in Business can apply for both internal (university-specific) and external (third-party) scholarships to make their education more affordable.

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

Internal Scholarships

Students pursuing a Masters in Business can apply for internal scholarships offered by their universities. 

For example, the Graduate Business Scholarships at Clark University offer up to 50% tuition waivers for admitted students in programs like MBA and MS in Business Analytics. This scholarship is merit-based and does not require a separate application.

Here are some internal scholarships.

In addition to scholarships offered by universities, you can also apply for external funding options. Let's take a closer look at them.

External Scholarships

Beyond university scholarships, you can explore external ones offered by government bodies and private organizations. 

For instance, Indian students pursuing an MBA in the U.S. can apply for the Inlaks Shivdasani Foundation Scholarship, which covers tuition, living expenses, and travel costs up to $100,000 (INR 83.5L).

Here are some external scholarship options.

Now, let's take a look at the career paths you can pursue after completing a Masters in Business in the USA.

Job Opportunities After Masters in Business in USA

Graduates with a Masters in Business from the U.S. are in demand across industries like finance, consulting, tech, and retail. 

According to the U.S. Bureau of Labor Statistics, the median annual wage for business and financial occupations was $80,920 (INR 67.5L), significantly higher than the national average of $49,500 (INR 41.3L). 

Roles such as financial analysts, management consultants, and marketing managers are consistently ranked among the most in-demand jobs in the U.S. 

Here are some career paths and salaries after completing a Masters in Business in the USA:

Source: Indeed

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

Let's now take a look at some of the leading companies that hire graduates with a Masters in Business in the USA.

Top Recruiters Hiring Masters in Business Graduates in USA

A Masters in Business opens doors to roles in consulting, tech, banking, and retail. Graduates are often hired by Fortune 500 companies and global firms for their ability to lead projects, analyze financial performance, and drive strategic growth. 

For example, you could work as a business analyst at Amazon or as a management consultant at Deloitte.

Below are some of the top recruiters and roles offered to graduates:

Source: Indeed

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

Now, let's see how upGrad can help you successfully study abroad at your preferred university.

How Can upGrad Help You Study a Masters in Business in the USA?

Pursuing a Masters in Business in the U.S. involves multiple steps, from choosing the right university to preparing your application and navigating visa formalities. upGrad helps you stay on track with expert support every step of the way.

Here's how upGrad supports your study abroad goals:

• One-on-One Mentorship: Get personalized advice on selecting universities and building a strong application based on your background and interests.
• Visa and Scholarship Guidance: Receive help with your visa process and find scholarship options that can ease your financial load.
• Test Prep Resources: Access preparation support for exams like the GMAT, GRE, IELTS, or TOEFL.
• Career Support: Improve your resume, sharpen your interview skills, and get advice tailored to your post-graduation plans.
• Internship and Job Assistance: Learn about internship options during your course and full-time roles after graduation.

Don't delay your Masters journey abroad. Book a 1:1 session with upGrad experts and take the first step toward your business degree in the U.S.