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Management degrees in the US last for two years and the tuition fees for each year at an Ivy League school is around $80,000 – $82,000.
There are also many other expenses such as health insurance, student service fee, technology fee, international student fee and other fees, which total up to $10,000 per year.
Let’s peel back the layers and understand how much it costs to graduate from a top US B-school.
Also read: Harvard, Columbia students lose job offers for supporting Palestinians
At Stanford, Annual tuition fee is 82,000, In addition, the university charges living expenses, housing, medical insurance and health fees totaling $48,383. So, the total expense for one year is approximately $130,000.
This means the total cost of a two-year MBA is $2,60,000. When converted into Indian currency ($1= 83), the total cost comes to approximately 2,15,80,000 (or approx) 2.15 crores).
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Similarly, MIT Sloan School of Management The total one-year cost of the MBA program is $125,489 (including $84,200 for tuition). Therefore, a two-year MBA will let you loosen your purse strings up to $2,50,978. In Indian currency it means 2.08 crores.
Top 10 Universities Offering MBA in USA
| Category | B-school (university) |
| 1. | MIT (Massachusetts Institute of Technology) |
| 2. | Stanford University |
| 3. | Harvard University |
| 4. | University of California, Berkeley |
| 5. | University of Chicago |
| 6. | Yale University |
| 7. | University of Pennsylvania |
| 8. | Northwestern University |
| 9. | Columbia University |
| 10. | New York University |
,Source:timeshighereducation.com,
However, smaller and lesser known universities America Charge low tuition. Furthermore, their miscellaneous expenses are also lower than those charged by the Ivy League.
For example, the tuition fees charged by Michigan State University’s Broad College of Business is $55,000 per year, Additionally, living and other expenses are also very low and amount to $23,000 per year. This means the total expense for one year is $78,000. For a two-year MBA, the cost is $1,56,000, which is equivalent to 1.29 crore ($1= 83).
Also read: Elite US universities are mostly overrated
Similarly, the University of Minnesota’s Carlson School of Management Tuition fee is $55,920, Other miscellaneous expenses such as health insurance, student service fees and technology fees total about $10,000, which means the total fees for a year (except living expenses) is $65,600. The fee for two years is $1,31,200.
When you convert it into Indian currency, it becomes equal to 1.08 crores. But when you add up living expenses of about $24,000 ( 20 lakhs), it will be 1.28 crores.
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Published: April 19, 2024, 10:05 am IST
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