Masters in Management in USA: Fees 2023, Top Colleges, Placements & Salaries

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 33,300-93,600 USD. For an Indian student, this estimate for tier-1 universities is 1 crore whereas tier-2 universities cost around 27.13-76.26 lakhs INR. 

Check out some of the top scholarships to study in USA!

To get into master's 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 master's 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 2023 for business and management, along with course duration and total fees are given below:

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: 

• The top universities for Masters in Management in USA such as Massachusetts Institute of Technology, Stanford University , Yale University, and Columbia University are among the top 50 universities in the world, according to the QS World Rankings 2023.
• Unlike MBA in the USA, applicants have no need for work experience to excel in the field.
• Management occupations are expected to grow by 8% from 2021 to 2021 in the USA while the national average for all occupation is only 5%
• 883,900 news jobs are expected to be created in the management field by 2031.
• The median annual salary for management occupations is 102,450 USD (83.47 lakhs INR). This is the highest paygrade among all major occupational groups in the USA. 

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.

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 in the top universities for Masters of Management in USA is provided below: 

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 two categories: Tuition Fees and Cost of Living.

Masters in Management in USA: Tuition Fees

The tuition fee for admission to the top universities for Masters in Management in USA is as follows:

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 USA (in INR) across the cities is given below:

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:

Interested to know more about scholarships in USA, click here. 

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 80,000 USD (65.18 lakhs INR) per annum.  Students can get the following jobs after completion of Master of Management in USA: 

Explore: Post-Study Work Visa in USA

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:

It can be concluded that with a MiM degree, you can earn your investments back in a year and a half. MiM courses still view the 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 master's in management from the US. 

Masters in Management in Canada v/s Masters in Management in USA

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.

Engineering graduates can also choose pursue Masters in Engineering Management in USA which is a more specialized degree for this domain. 

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