Top Ranked MBA Universities in USA 2024
There are over 140 top MBA universities in USA. Most of the best MBA colleges in USA are located in popular cities in the world such as California, New York, and Massachusetts. Students are required to appear for exams like the GMAT / GRE to study the Masters of Business Administration program in the USA. Some of the top colleges in USA for MBA are Stanford Graduate School of Business, Penn (Wharton), Harvard Business School, London Business School, etc.
The US continues to be the top destination for international students to study MBA abroad. According to The Open Doors 2023 Report on International Educational Exchange released by the US Department of State’s Bureau of Educational and Cultural Affairs and the Institute of International Education (IIE), over 10 lakh international students from more than 200 places of origin studied at US higher education institutions during the academic
There are over 140 top MBA universities in USA. Most of the best MBA colleges in USA are located in popular cities in the world such as California, New York, and Massachusetts. Students are required to appear for exams like the GMAT / GRE to study the Masters of Business Administration program in the USA. Some of the top colleges in USA for MBA are Stanford Graduate School of Business, Penn (Wharton), Harvard Business School, London Business School, etc.
The US continues to be the top destination for international students to study MBA abroad. According to The Open Doors 2023 Report on International Educational Exchange released by the US Department of State’s Bureau of Educational and Cultural Affairs and the Institute of International Education (IIE), over 10 lakh international students from more than 200 places of origin studied at US higher education institutions during the academic year 2022/23. The USA is the biggest MBA market and it has more than 1,30,000 graduates annually as per the US Department of Education. The top industries for MBA graduates in the US are Consulting, Technology, Private Equity, and Financial Services.
Also read: MBA in USA
Top MBA Universities in USA 2024 Highlights
The duration of a regular MBA in the majority of the top-ranked universities in the USA is two- years. Most of the MBA universities in the USA admit students in the August or September intakes. Check some of the features of the best MBA program in USA from the table given below:
| Parameters |
Statistics |
|---|---|
| Number of MBA Universities in USA |
140+ |
| Cost of MBA courses in USA |
Annual tuition fees: INR 20 Lakh – 40+ Lakh Annual living expenses: INR 14 Lakh – 34 Lakh |
| Top MBA specializations |
Finance, International Business, Entrepreneurship, Sales & Marketing, Business Analytics, Human Resources, etc. |
| Entrance exams required |
|
| Work permit required for that country |
OPT (one-year and stay-back permit) |
Also read: A Complete Guide on MBA in the USA for Indian Students
Top MBA Universities in USA Rankings 2024
The QS Global MBA rankings focus on the best MBA programs across the world. The program ranking is released on indicators like employability; return on investment; entrepreneurship and alumni outcomes; thought leadership; and class & faculty diversity. On the other hand, U.S News & World Report’s Best Business Schools rankings compare the full-time MBA programs as per their career placement success, student excellence, and qualitative assessments by experts. Given below is the list of top MBA Universities in USA in 2024:
| University |
QS Global MBA Rankings 2024 |
U.S. News & World Report MBA Rankings for 2024 |
|---|---|---|
| 1 |
1 |
|
| 2 |
2 |
|
| 3 |
6 |
|
| London Business School |
4 |
NA |
| 5 |
NA |
|
| 6 |
5 |
|
| 7 |
12 |
|
| 8 |
NA |
|
| 9 |
NA |
|
| 9 |
NA |
Also check the Top 10 MBA Colleges in the US
Top MBA Universities in USA by QS World University Ranking
In the QS Global MBA Rankings, it can be observed that Stanford University, the University of Pennsylvania, Harvard University, and Columbia University have sustained their position in the top 10 MBA universities worldwide. Stanford University has been consistent in maintaining its #1 position over the years.
| University |
QS World Ranking 2021 |
QS World Ranking 2022 |
QS World Ranking 2023 |
|---|---|---|---|
| #1 |
#1 |
#1 |
|
| #2 |
#2 |
#3 |
|
| #3 |
#5 |
#6 |
|
| #4 |
#2 |
#2 |
|
| #8 |
#9 |
#8 |
|
| #10 |
#11 |
#11 |
|
| #20 |
#20 |
#20 |
|
| #14 |
#16 |
#14 |
|
| #17 |
#18 |
#18 |
|
| #19 |
#19 |
#19 |
|
| #15 |
#15 |
#15 |
Read more:
| Top Ranked MBA Universities in Canada | Top Ranked MBA Universities in Germany |
| Top Ranked MBA Universities in UK | Top Ranked MBA Universities in France |
Top MBA Universities in USA by Financial Times Rankings
The table given below compares the MBA 2023 and 2022 (Business schools rankings) by Financial Times.
| University |
Financial Times MBA 2023 Rankings |
Financial Times MBA 2022 Rankings |
|---|---|---|
| Columbia University |
#1 |
#2 |
| Harvard University |
#4 |
#3 |
| Stanford University |
#4 |
#6 |
| University of California – Berkeley Campus |
#7 |
#14 |
| Cornell University |
#8 |
#17 |
| Northwestern University |
#9 |
#5 |
| University of Pennsylvania |
- |
#1 |
| Yale University |
#10 |
#9 |
| MIT |
#11 |
#11 |
| University of Chicago |
#11 |
#7 |
| University of Michigan |
#26 |
#24 |
Read: Top Colleges and Universities for MBA Abroad
Top MBA Universities in USA Admission Requirements
The exact MBA admission requirements for the USA universities will have some variations. However, some of the general Top MBA Universities in the USA basic entry requirements are given below:
- A bachelor’s degree
- GMAT / GRE score
- English language proficiency (IELTS / TOEFL)
- At least 2-3 years of work experience
Also, while submitting the MBA application, students have to submit some additional documents such as academic transcripts, letters of recommendation, CV / resume, etc.
Students can refer to the table given below to have a general idea of the eligibility requirements required to study in the USA.
| Universities |
Admission Requirements |
English language proficiency score |
|---|---|---|
|
NA |
|
|
TOEFL: 100 for iBT (113 for entering class)
|
|
|
No minimum test score but the applicants must not have scored lower than the below:
|
|
|
|
|
|
|
|
|
Not required |
|
|
|
|
|
|
|
|
|
|
|
|
(Note: The above-given eligibility requirements for admission to top MBA colleges in the USA are based either on the entering class profile or as per the minimum admission requirements. To know the exact entry requirements, it is advised to check the university-based criteria).
Top MBA Universities in USA Scholarships
Deciding to study abroad is an important decision that a student makes throughout his / her studies. Looking out for the tuition fees and living expenses are two of the most important factors that a student keeps in mind when deciding to study abroad. This is where scholarships come into the picture, as they help in minimizing the expensive study cost. Given below are some of the scholarships that will be available for international students willing to study MBA in USA.
- Stanford Reliance Dhirubhai MBA Fellowship
- The University of Pennsylvania, Wharton Emerging Economy Fellowships
- MBA Scholarship – Columbia University
- A.H Tobaccowala Fellowship (For students taking admission to the University of Chicago MBA)
- Harvard University – Need-Based Scholarships
Read: Scholarships to Study in USA for International Students
Top MBA Universities in USA Visa Requirements
As an international student, one might need a USA Student Visa. To study MBA in the USA, students require an F1 Visa. Prospective students need to follow a proper application process to apply for a US Student Visa. On top of this, students are required to pay the visa application fee, as applicable. Students have to be aware of the documents required for the F1 Visa Interview.
Top MBA Universities in USA Acceptance Rate
It may be difficult to get admission to top MBA Universities in the USA because of its acceptance rate. Given below are the acceptance rates of the top US Universities that offer MBA programs:
| University |
Acceptance Rate (Overall) |
Average GPA for MBA* |
|---|---|---|
| 4% |
3.62 (Entering class profile data) 3.88 (Average GPA) |
|
| 4% |
3.76 |
|
| 6% |
3.6 |
|
| 15% |
3.64 (Entering class profile) 3.0 or better (minimum GPA required) |
|
| 4% |
3.70 |
|
| 6% |
3.6 |
|
| 5% |
3.69 |
|
| 7% |
3.7 |
|
| 6% |
3.6 |
|
| 27% for MBA |
3.62 |
(Note: * The above-mentioned university-wise MBA average GPA is based on the entering profile of MBA students and may vary from the minimum admission requirements).
Also check the High Acceptance Rate of Universities in the USA
Top MBA Universities in USA Fees for International Students
Considering the table given below, it can be observed that the majority of the top-ranked MBA universities in the USA have a 1st-year tuition fee above INR 40 Lakh. International students can check the table below to learn more about the MBA in USA fees at top universities:
| University |
1st-Year Tuition Fee |
Living Cost (Approximate) |
|---|---|---|
| INR 69.1 L |
INR 25 L |
|
| INR 65.6 L |
INR 31 L |
|
| INR 69.7 L |
INR 27 L |
|
| INR 21.8 L - 67.2 L |
INR 27 L |
|
| INR 61.5 L |
INR 34 L |
|
| INR 69.4 L |
INR 14 L |
|
| INR 37.9 L – 67.9 L |
INR 8 L |
|
| INR 60.6 L – 88.7 L |
INR 29 L |
|
| INR 40.8 L – 63.9 L |
INR 21 L |
ROI of Top MBA Universities in USA
Return on Investment (ROI) is the amount of money that students get as a placement offer in return for investing some amount of money to attend a college and eventually, for the completion of a degree. Top-ranked MBA colleges in USA along with the first-year tuition fee and average salary are given below:
| University |
1st-Year Tuition Fee |
Average Median Salary |
|---|---|---|
| INR 69.1 L |
USD 165,000 |
|
| INR 65.6 L |
USD 175,000 |
|
| INR 69.7 L |
USD 175,000 |
|
| INR 21.8 L - 67.2 L |
USD 155,000 |
|
| INR 61.5 L |
USD 175,000 |
|
| INR 69.4 L |
USD 175,000 |
|
| INR 37.9 L – 67.9 L |
USD 160,000 |
|
| INR 60.6 L – 88.7 L |
USD 164,000 |
|
| INR 63 L - 88.8 L |
USD 170,000 |
(Note: The average salaries of the Top MBA universities given above are based on the graduating class of 2022)
Post-Work Study Permit in the USA
Optional Practical Training (OPT) is a one-year work and stay-back permit given to international students in the US, on the completion of a degree program. Two types of OPT are there: Pre-Completion OPT and Post-Completion OPT. After completing the studies, F1 visa holders can apply for OPT. Students get to stay in the US for one year after completing their studies.
Read: Post-Study Work Permit in USA for Indian Students
Top MBA Universities in USA Comparison 2024
Mentioned below are the comparison between MBA universities in the USA:
| University Name |
Current Year Ranking (QS Global MBA Rankings 2023) |
Placement Data |
Acceptance Rate |
|---|---|---|---|
| Stanford University |
#1 |
USD 175,000 |
4% |
| University of Pennsylvania |
#2 |
USD 175,000 |
6% |
| Harvard University |
#3 |
USD 175,000 |
4% |
| MIT |
#6 |
USD 165,000 |
4% |
| Columbia University |
#8 |
USD 175,000 |
6% |
Also check: Average MBA Salary in the USA in 2024
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Top Ranked MBA Universities in USA 2024
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Top Ranked MBA Universities in USA 2024 FAQs
Q. Which University is best for doing MBA in USA?
A. Some of the top universities in USA for MBA are Stanford University, Harvard University, the University of Pennsylvania, MIT, Columbia University, University of California – Berkeley campus, Northwestern University, Yale University, New York University, etc. However, the top three ranked MBA Universities in USA as per QS Global MBA Rankings for 2023 are Stanford University, Harvard University, and University of Pennsylvania. Out of these, Stanford University has maintained its position at #1 since 2021 in the QS Global MBA Rankings.
Q. What is the minimum GMAT score for MBA in USA?
A. GMAT or GRE test scores are necessary to take admission to MBA in the US Universities. The range of GMAT score required is 550 – 730+. However, the data of the Top 5 MBA Universities in USA given below specifies the average GMAT score reported as per the entering MBA class.
| Universities |
GMAT Score of Entering Class |
|---|---|
| Stanford University |
737 |
| Harvard University |
730 |
| University of Pennsylvania |
733 |
| Columbia University |
729 |
| New York University |
733 |
Note: To get into the top-ranked MBA universities of USA, it is best advised to score 700 or above in GMAT.
Q. Which is the No. 1 MBA college in the world?
A. As per the QS Global MBA Rankings 2023, Stanford University sits at the top of the list of best MBA colleges in USA. It ranks at #1 position. Harvard University is at the second position and the University of Pennsylvania is at the third position. In short, all the top 3 MBA colleges in the world are situated in USA.
Q. Is MBA in USA worth it for Indians?
A. According to the Corporate Recruiters Survey from the Graduate Management Admission Council (GMAC) 2022 report, median starting salaries are the largest in the United States. In the US, the median starting salary to be offered to new MBA hires is USD 115,000. Some of the benefits of pursuing an MBA from US Universities are:
- High-quality education
- Progression in the career
- Upscaling of networking
- Personal growth
- Increase in the quality and quantity of job offers
Q. Which MBA is most in demand in USA?
A. Some of the best specializations of MBA in USA are:
- Finance
- Entrepreneurship
- Sales & Marketing
- International Business
- Business Analytics
- Operations
- Human Resources
Q. How can an Indian student get an MBA seat in USA?
A. The most important factors that Indian students have to keep in mind while applying for admission to top MBA colleges in USA are meeting the entry requirements and completing the application process on time and with proper documents. The entry requirements for getting admission to MBA universities in USA are:
- A bachelor’s degree
- GMAT scores of above 600
- English language proficiency test score (IELTS / TOEFL / Any other equivalent test score)
- 2-3 years of work experience
Q. Can I go to Harvard without GMAT?
A. Unfortunately, to get into Harvard MBA, it is necessary to submit either GMAT or GRE score. As such, there is no minimum GMAT or GRE score required for admission. However, to have a general idea about the GMAT score, the class of 2024 has a GMAT average score of 730 and an average GRE score of 163 in both Verbal and Quantitative. Besides these standardized test scores, admission to Harvard’s MBA requires the following:
- A 4-year undergraduate degree or its equivalent
- GMAT or GRE test score
- IELTS / TOEFL / PTE / Duolingo test result
- Essay
- 2 recommendations
- Resume
Q. How much does an MBA cost in the US for international students?
A. To have an estimate of the first-year tuition fees for MBA course in US universities, check the table given below:
| University |
1st-Year Tuition Fee |
|---|---|
| MIT |
INR 69.1 L |
| Stanford University |
INR 65.6 L |
| University of Pennsylvania |
INR 69.7 L |
| University of California – Berkeley Campus |
INR 21.8 L - 67.2 L |
| Harvard University |
INR 61.5 L |
| Columbia University |
INR 69.4 L |
| Yale University |
INR 37.9 L – 67.9 L |
| Northwestern University |
INR 60.6 L – 88.7 L |
| New York University (NYU) |
INR 63 L - 88.8 L |
Q. What are the popular job roles for MBA graduates?
A. As mentioned by the U.S. News & World Report, some of the popular jobs for MBA graduates in the US are Financial Manager, IT Manager, Management Consultant, Medical and Health Services Manager, Operations Research Analyst, and Personal Financial Advisor. In 2022, the median starting salary for MBA hires was USD 115,000.
Q. Does pursuing MBA pay off?
A. As mentioned in Forbes, pursuing an MBA, most of the time, pays off. The first-year tuition to study MBA in USA ranges from USD 60,000 – USD 89,000 in the top-ranked universities. The median start salary for MBA graduates in the US is USD 115,000 – nearly double the MBA average cost.
Q. Is it better to do an MBA in the US or an MBA in India?
A. According to an unofficial source, the answer to this question is based on the ROI. Doing an MBA from the best MBA colleges in USA can cost you around a crore. However, after this, students will be able to get a job that pays off well. To reduce the study cost, students can look for scholarships and apply for their dream schools.
Pursuing an MBA from India is always a safe option since there are campus placements and no visa application process is there. Even so, getting into top MBA colleges in India like IIMs is quite difficult because of the high cut-offs of the popular exams like CAT, XAT, MAT, etc., and due to the high competition. The choice of pursuing an MBA from India or USA is totally dependent on the preferences and convenience of students. But, some of the factors that students must consider while choosing an MBA university are fees, preferred country of work, and post-MBA salary. Read: Top MBA Colleges in India
