A Global Perspective on MBA Programs
The Master of Business Administration (MBA) degree has long been a coveted credential for aspiring business professionals. While this article should be useful to all candidates, we are writing it mostly from the perspective of international students considering an MBA program hosted by an US university.
For international students seeking to advance their careers and gain a global perspective, pursuing an MBA in the United States offers a unique set of benefits. This essay will delve into the advantages of obtaining an MBA from a U.S. institution, the admissions process, and the distinct focuses and differences among top MBA programs.
Why to pursue an MBA degree in the US?
- Academic Content – Any MBA program anywhere should provide comprehensive understanding of business principles and develop essential skills to excel in business leadership roles. That should included studies in Finance, Marketing, Operations, Strategy and Leadership. At a higher level, an MBA should stimulate students to understand how to combine skills, transpose experience, and model and abstract local specific knowledge so that it is applicable more generally.
- Learning from experts – The US is arguably where business best practices were implement most successfully in the past decades. One of the primary benefits of pursuing an MBA in the United States is the opportunity to learn from world-renowned faculty. U.S. business schools are home to leading experts in various fields, including finance, marketing, strategy, and entrepreneurship.
- Global Perspective and Professional Networking – The international student population at U.S. business schools offers a unique opportunity to learn from peers with diverse cultural backgrounds and perspectives, fostering a global mindset and enhancing intercultural communication skills. Beyond the classroom, U.S. business schools offer unparalleled opportunities for networking. The student body, often representing a wide range of countries and industries, provides a rich tapestry of connections. These relationships can be invaluable for future career advancement, international business ventures, and lifelong friendships.
- Career Advancement and Post-MBA Employment – An MBA degree usually provides opportunities for career advancement. U.S. business schools often have strong career services departments that assist graduates in finding employment. Schools have alumni networks that can help connect graduates with potential employers both in the US and globally. At the conclusion of an MBA program, graduates also benefit from Optional Practical Training (OPT), which allows for temporary employment in the US (which can later be converted to other classes of work visa) and a US-based work career.
Cost of attending an MBA Program in the US
The cost of attending an MBA program in the US for international students can vary significantly depending on the specific school, location, and financial aid options available. Here are the primary components of the cost:
- Tuition: This is the most significant expense and can range from $30,000 to $100,000 per year. Top-tier business schools in major cities tend to have higher tuition fees.
- Fees: In addition to tuition, students may also need to pay various fees, such as application fees, student activity fees, and technology fees. These fees can add up to several thousand dollars per year.
- Living Expenses: The cost of living in the United States can vary widely depending on the city. Students can expect to spend money on housing, food, transportation, and other daily expenses. Major cities like New York and San Francisco tend to have higher costs of living.
- Health Insurance: International students are generally required to have health insurance. The cost of health insurance can vary depending on the plan and coverage.
- Books and Supplies: Students will need to purchase textbooks, supplies, and other materials for their courses. These costs can vary depending on the specific program and the number of required courses.
Many U.S. business schools facilitate and offer financial aid packages to international students. These packages can include scholarships, fellowships, and loans. Students should research the financial aid options available at their chosen schools and apply for any scholarships or fellowships they may be eligible for.
The total cost of attending an MBA program in the US for international students can range from $60,000 to $150,000 per year, and is often subsidized or co-sponsored by an employer (or financed by student loans). However, this is just an estimate, and the actual cost may be higher or lower depending on individual circumstances.
Admissions Process
The admissions process for U.S. MBA programs is highly competitive. Prospective students typically need to submit a completed application, including transcripts, standardized test scores (such as the GMAT or GRE), letters of recommendation, and a personal statement. The personal statement is a crucial component of the application, allowing students to showcase their unique experiences, goals, and fit with the program.
Additionally, many schools require interviews with admissions committees to assess candidates’ suitability for the program. This is not unlike a job interview and will include predictable questions: Resume walk-through? Why did you decide to pursue an MBA? Why did you choose this school? What are your goals in pursuing an MBA? How can you contribute to this school? What are your biggest challenges at work?
You are also likely to be asked behavioral questions or for participation in group workshops that probe on business experience (domain knowledge, business execution), leadership style and skills (personal branding, conflict resolution, thought leadership, etc.), cultural attitudes (collaboration, conflict resolution, diversity and inclusion, etc.). See more about how to prepare for behavioral “STAR” questions in the article about job interviewing for leadership roles.
Selecting the right program
The focus and differences among top MBA programs can vary significantly. Some programs may specialize in a particular area, such as finance, marketing, or entrepreneurship. Others may offer a more generalist approach, providing a broad foundation in business fundamentals. Additionally, some programs may emphasize experiential learning through internships, case studies, and simulations, while others may focus on theoretical knowledge and academic research. It is essential for international students to carefully research different programs to identify the one that best aligns with their career goals and interests.
A very personal view on MBAs
In my career as a corporate manager/leader, I have advised, sponsored and worked with many MBA candidates and interacted with them before and after their effort to get the degree. While one can arguably learn “by doing it”, I perceive MBA programs as being a decent investment of time/effort/money (both from the candidate and sponsoring enterprise) that can accelerate the development of professionals destined to become organizational and business leaders.
I have seen cases where attending MBA programs was not a good investment. That usually happened with professionals who were not well-equipped with the experience and leadership soft-skills to realize the benefits. They came back over-indexed on artificial models and frameworks, with a certain intellectual arrogance and excessive faith in their models and spreadsheets that did not connect with the realities of running a real business with human counterparts.
Conclusion and Call to Action
In conclusion, pursuing an MBA in the United States offers international students a unique opportunity to enhance their careers, gain a global perspective, and build valuable networks. By carefully considering the benefits, challenges, and factors involved, international students can make a successful decision and embark on a transformative educational journey.
If you found this article useful, please take the time to share this post with a couple of friends who might be considering attending an MBA Program in the US.
About the author
Marcio has not attended an MBA program, having acquired business and leadership skills by trial and error. Over his career as a manager, he has sponsored many candidates and recognizes the benefits of learning it from a business school. Marcio provides career coaching, with focus on early career choices and senior leadership roles in Technology.
Marcio Saito 