Masters in Management in USA is available as an MS course lasting for up to two years with some universities. MiM in USA focuses on teaching leadership and management skills through an action-based curriculum. The average cost of pursuing the cost with top US universities is around 56,800 USD to 150,000 USD. For an Indian student, this estimates to 41 lakhs to 1Cr.
To get into masters in management in the US, international applicants will need to have a good score in their bachelor’s (83-86% or more) along with language proficiency scores (TOEFL or others). Competitive GMAT scores are required to get into most of the top universities offering masters in management in the USA, however, GMAT waivers are available for studying in the USA.
The management industry boasts offering cushy median salaries of up to 128,000 USD (94 lakhs INR) per annum. Employment rates reported by top business-schools for their MiM graduates is over 85%, suggesting that job prospects in the USA after completion of MiM are on the rise.
Top Universities offering Masters in Management in USA
A list of top-ranking universities offering Masters of Management in the US, according to QS News Ranking 2020 for business and management, along with course duration and total fees are given below:
| QS Ranking 2020 | University | University | Program Offered & Duration | Total Program Fees (in USD) |
|---|---|---|---|---|
| 4 | Massachusetts Institute of Technology | MIT Sloan School of management | MS in Management Studies; 9 months | 141,535 |
| 5 | Stanford University | Stanford Engineering | MS in Management Science and Engineering; 1.5 years | 149,080 |
| 14 | Northwestern University | Kellog School of Management | MS in Management Studies; 10 months | 57,336 |
| 18 | Columbia University | Columbia Business School | MS in Management Science and Engineering; 1 year | 72,000 |
| 19 | Yale University | Yale School of Management | Master of Advanced Management; 1 year | 72,350 |
| 20 | New York University (NYU) | Stern School of Business | MS in Quantitative Management; 1.7 years | 67,000 |
| 27 | University of Michigan, Ann Arbor | Ross School of Business | Master of Management; 10 months | 57,318 |
| 28 | University of California, Los Angeles (UCLA) | Anderson School of Management | MS in Management; 1.3 years | 75,816 |
| 46 | Duke University | Fuqua School of Business | Master of Management Studies; 10 months | 70,666 |
| 51-100 | Boston University | Questrom School of Business | MS in Management Studies; 9 months | 56,854 |
Why Choose Masters in Management in USA?
The USA is home to numerous top business schools offering internationally recognized Masters in Management degree. It provides valuable theoretical and practical knowledge that prepares students for working as a business manager in the ever-changing competitive world of business. Following are some other reasons why international students prefer to study masters in Management in the USA:
Looking for Admissions here? or need Help?Register Now
- Unlike MBA in the USA, applicants have no need for work experience to excel in the field.
- Management occupations are expected to grow by 7% from 2018 to 2028 in the USA while the national average for all occupation is only 5%
- 706,900 news jobs are expected to be created in the management field by 2028.
- The median annual salary for management occupations is 105,660 USD. This is the highest paygrade among all major occupational groups in the USA.
- After 2019’s economic survey, there are around 12.5% of jobs available for international graduates in the field of management.
Admission Process of Masters in Management in USA
The international students have to go through some rigorous process to take admission in the best universities for Masters in Management in US. Details about admission requirements are discussed further in this section.
| LOR for MiM | Professional LOR | Submitting LORs | SOP for USA |
Eligibility for Master of Management in USA Admission
- Bachelors degree with a minimum 3.0 GPA on a 4.0 scale (equivalent to 83% to 86%)
- GRE or GMAT scores
- Proof of English Proficiency
- Interview
Minimum GRE/GMAT score required along with the application fees of top universities in USA offering Master of Management is provided below:
| University | Application Fee | Minimum GMAT/GRE Required |
|---|---|---|
| Duke University | 125 | GMAT: 690-740 |
| MIT | 150 | GMAT: 700-770; GRE- 320 |
| Columbia University | 100 | GRE: 300; GMAT: 790 |
| Stanford University | 100 | GMAT: 790; GRE: 320 |
| University of California, Los Angeles (UCLA) | 140 | GMAT: 680-750 |
| University of Michigan, Ann Arbor | 100 | GMAT: 675-750 |
| Northwestern University | 125 | NA |
| Yale University | 100 | No minimum score specified |
| New York University | 100 | No minimum score specified |
| Boston University | 125 | No minimum score specified |
Documents Required for Master of Management in USA Admission
The admission process in the US’ higher education institution involves a lot of paperwork. The application package required when applying here includes documents like proof of language proficiency, education certificates, etc. The details of these documents are given below:
- Resume: Detailed resume with all the necessary academic qualifications, work experience, projects, internships, and other co-curricular activities.
- Mark sheets: The applicants need to submit all the necessary mark sheets and passing certificates of class 10, 12 and undergraduate degrees.
- Letters of Recommendation: Each university requires either 2 or 3 letters of recommendation for the applicant. The hard copy of letters should be sent to the respective university
- Standardized test scores: Applicants may be required to submit GMAT scores for some of the universities.
- English Proficiency Score: As English is not the native language, the applicants need to write TOEFL or IELTS examination to prove their efficiency in the English language.
- Statement of Purpose: Each applicant needs to submit the statement of purpose online to explain the sole reason for choosing such a course.
Proof of English Proficiency for International Students
International students from a country where English is not the first language are required to submit IELTS or TOEFL test scores as proof of English proficiency. The minimum score requirement is provided below:
- IELTS: 7.0 to 7.5
- TOEFL (iBT): 80 to 100
US Student Visa
The USA has different types of visas. F1 is used for those who want to pursue academics in universities in the USA. The US study visa is issued post submission of the following documents:
- University Acceptance Letter and all academic documents (Transcripts)
- Migration, provisional, character, and birth certificates
- Original I-20 signed and approved by both the University authority and candidate
- Sponsorship letter and relationship certificate from the sponsor
- Last 6-month’s bank transaction and balance certificate as financial proof
- Pay SEVIS fee before the visa interview
Once these documents have been submitted, the applicant will be invited for an interview process. Visa will be issued only if the applicant has cleared their visa interview.
Cost for Pursuing Masters in Management in USA
International applicants who wish to study in the USA must ensure that they have enough funds to sponsor their education. The cost of study can be divided into three categories: Pre-arrival Cost, Tuition Fees, and Cost of Living.
Pre-arrival Cost
This is the one time cost incurred before arrival at the university. A summary of such expenses is provided below:
- USA Student Visa Application Fee: 510 USD
- IELTS Fees: 240 USD
- TOEFL Fees: 200 USD
- GRE Fees: 190 USD
- GMAT Fees: 250 USD
Tuition Fees of Master of Management in USA
The tuition fees for pursuing masters in management at top universities in the USA is discussed previously. The table below gives the estimates of costs for Indian students planning to study in the USA:
| University | Total Program Fees (~in INR) |
|---|---|
| Massachusetts Institute of Technology | 1.03 Cr |
| Stanford University | 1.08 Cr |
| Northwestern University | 41.81 lakhs |
| Columbia University | 52.50 lakhs |
| Yale University | 52.76 lakhs |
| New York University (NYU) | 48.86 lakhs |
| University of Michigan, Ann Arbor | 41.80 lakhs |
| University of California, Los Angeles (UCLA) | 55.29 lakhs |
| Duke University | 51.53 lakhs |
| Boston University | 41.46 lakhs |
Cost of living in USA
Depending on the costs of house rents, meal plans, travel costs, the students have to decide the best available option for them to stay. A detailed list of the monthly cost of living in USAacross the cities is given below:
| Cities in USA | House Rent | Food | Transport (Monthly pass) | Miscellaneous | Total |
|---|---|---|---|---|---|
| Durham | $1500 | $450 | $36 | $500 | $2486 |
| Long Beach | $1700 | $650 | $65 | $1000 | $3415 |
| Cambridge | $2600 | $300 | $84 | $600 | $3584 |
| New York | $3200 | $650 | $127 | $1500 | $5500 |
| Los Angeles | $2800 | $500 | $100 | $1000 | $4500 |
| Stanford | $3000 | $520 | $120 | $1200 | $5300 |
| Tempe | $1700 | $400 | $40 | $700 | $3000 |
| San Francisco | $3200 | $500 | $81 | $1000 | $4781 |
| Ann Arbor | $1300 | $400 | $58 | $600 | $2358 |
Note: All the cost mentioned above are in USD.
Scholarships for Masters in Management in USA
Due to huge financial burden because of the tuition fees of masters of management in USA and added living expenses, the international students seek aid through scholarships. List of scholarships in USA for international students are as follow:
| University | Scholarship | Amount (in USD) |
|---|---|---|
| Fuqua School of Business | Fuqua Merit Scholarships | Waiving off tuition fees |
| Sloan School of management | Research Assistantship | 33,924 per year |
| Columbia Business School | Laidlaw Foundation Scholarship | 7,500-30,000 |
| Stanford University | The Aga Khan Foundation | 50% off tuition fees |
| Anderson School of Management | Education Future International Scholarship | 3,000-14,000 |
| Ross school of business | Ross MM Scholarship | Varies |
Job Prospects after Masters in Management in USA
Masters in Management became popular among international students as a substitute of MBA from the last decade. After graduating, international students have a high possibility of getting great job opportunities in the USA.
The average salary earned by a graduate with a degree in Master of Management in USA is 76,000 USD per annum. Some of the top recruiters for this program are Lockheed Martin, Booz, Allen & Hamilton, US Army etc.
Students can get the following jobs after completion of Master of Management in USA:
| Job Role | Average Annual Salary (USD) |
|---|---|
| Human Resource Director | 96,000 |
| Human Resource Manager | 72,000 |
| Project Manager | 78,000 |
| Operations Manager | 72,000 |
| Director of Operations | 96,000 |
| Executive Director | 86,000 |
ROI for Masters in Management in USA Universities
As the investment on the course is extremely high, it becomes essential for international students to understand how much they can make after completing their courses. Discussed below are the average payscales of MiM graduates from some of the top business schools in the USA:
| Universities | Payscale (USD/year) |
|---|---|
| MIT | 211,000 |
| Stanford | 175,000 |
| Northwestern University | 103,000 |
| Yale University | 233,000 |
| Boston University | 145,000 |
| Duke University | 108,000 |
| UCLA | 178,000 |
It can be concluded that with a MiM degree, you can earn your investments back in year and a half. MiM courses still view lesser number of applications from international students when compared with MBA courses in USA. The major reason for the same the popularity of the program. Discussed below are some of the factors to note if you are still indecisive on MBA and masters in management from the US.
MIM (Masters in Management) vs MBA: Which is Better
The students sometimes fail to choose the right career pathways. MBA has always been believed to be the best academic course for a sudden career. Master in Management is a comparatively new degree offered in USA, Europe, Australia and few Asian countries for career growth in specialized managerial skills. Detailed information on MIM vs MBA is provided below to help you make a better choice. 
Although, not given as much value as MBA yet, Masters in Management is emerging as an alternative to it among students. Its admission process and curriculum is relatively more easy. The job roles offered to MBA and Masters in Management in USA is the same with little pay disparity.
Leave a Reply