This is why I’m doing an MBA in USA | MBA After Biomedical Engineering?

Summary

This video script delves into the value of pursuing an MBA degree in the US, highlighting the average starting salary of over $120,000 for graduates as of 2020. It discusses various MBA program types, prerequisites like GPA, TOEFL/IELTS, and GRE/GMAT scores, and the importance of work experience. The script also introduces scholarships for Indian students and others, emphasizing the potential for high returns on investment and career advancement. Additionally, it promotes Yakit's online grad school finder and premium counseling services to assist with the application process.

Takeaways

• 💼 The average starting salary for an MBA graduate in the US in 2020 was over $120,000, highlighting the potential financial benefits of this degree.
• 🏫 There are various types of MBA programs available, including full-time, part-time, online, executive, early career, global MBA degrees, and certificate programs like the PMP certification.
• 💰 MBA programs in the US can be expensive, costing between $150,000 to $200,000, which is over one crore rupees for Indian students.
• 📚 A minimum of a four-year bachelor's degree is required to apply for an MBA, and international students need TOEFL scores between 90 to 110 for English proficiency.
• 📈 GRE or GMAT scores may be required depending on the university, but some universities have offered waivers post-pandemic.
• 📈 Work experience of three to seven years is beneficial when applying for a business-based management degree like an MBA.
• 🎓 The MBA degree combines business and management skills, preparing graduates for management roles or career advancement in various fields.
• 📈 An MBA degree can lead to an increase of 80 to 100 percent in base salary compared to the previous salary, making it a significant investment for career growth.
• 🏆 Top MBA programs in the US include Harvard, Wharton, Stanford, MIT, and Columbia, which are prestigious but also costly.
• 💰 Scholarships are available for MBA students, such as the Stanford Reliance TheoRubai Fellowship for Indian students and various scholarships at Harvard, Chicago Booth, and Columbia Business School.
• 🌐 The application process for MBA programs involves standardized testing (TOEFL/IELTS, GRE/GMAT), GPA, resume, letters of recommendation, SOPs, and sometimes a cover letter, with translation needed for non-English documents.

Q & A

What was the average starting salary of an MBA graduate in the US as of 2020?

The average starting salary of an MBA graduate in the US as of 2020 was upwards of $120,000 per year.

How many types of MBA programs are mentioned in the script, and what are they?

The script mentions more than two types of MBA programs, including full-time, part-time, online options, Executive MBA for seasoned professionals, Early Career MBA for those without work experience, Global MBA degrees, and certificate programs.

What is the significance of a GPA in the MBA application process?

GPA is important as it is one of the criteria considered during the MBA application process. The script mentions that students admitted to top MBA programs in the US in 2020 had an average GPA of 3.6.

What is the role of TOEFL or IELTS scores in the MBA application process for international students?

TOEFL or IELTS scores are a requirement for international students as they serve as English proficiency scores. A good range to be in is anywhere between 90 to 110.

What is the duration of a typical full-time MBA program in the US?

A typical full-time MBA program in the US takes about two years to complete.

What is the cost range of attending an MBA program in the US?

The cost of attending an MBA program in the US can range anywhere between $150,000 to $200,000.

What is the potential salary increase after completing an MBA degree in the US?

The script reports about an 80 to 100 percent increase in base salary for graduates after completing their MBA degree in the US.

What is the PMP certification mentioned in the script, and how is it relevant to MBA aspirants?

The PMP certification is a project management certification that is useful for learning skills relevant to business management. It can be a good first step for those considering an MBA to see if they would like the two-year program.

What is the purpose of the online grad school finder by Yakit mentioned in the script?

The online grad school finder by Yakit helps shortlist universities based on the applicant's profile, making the process of finding the right MBA program easier.

What are some of the scholarships mentioned in the script for Indian students pursuing an MBA?

The script mentions the Stanford Reliance Theorubai Fellowship, which covers 80% of the tuition for Indian students at Stanford, and the Chicago Booth University Scholarships, which offer significant financial support.

How does the script suggest international students should prepare their application documents for an MBA program?

The script suggests that international students should ensure that all their documents, which may not be in English, are translated to English before applying.

Outlines

00:00

💼 MBA Programs and Their Value

This paragraph discusses the average starting salary for MBA graduates in the US, which is over $120,000 as of 2020. It highlights the importance of understanding the different types of MBA programs available, such as full-time, part-time, online, executive, early career, global, and certificate programs. The speaker emphasizes the value of an MBA degree, noting an 80 to 100 percent increase in base salary for graduates. The diversity of students in MBA programs is also mentioned, showcasing the opportunity to learn from peers with various backgrounds. The paragraph concludes with advice on preparing for MBA applications, including having a bachelor's degree, TOEFL scores for international students, GRE/GMAT scores, and work experience.

05:01

📚 MBA Application Process and Scholarships

This paragraph delves into the MBA application process, focusing on standardized testing (TOEFL/IELTS and GRE/GMAT) and the importance of a strong GPA, with an average of 3.6 for top US MBA programs in 2020. It also covers other application components such as resume, letters of recommendation, statement of purpose (SOPs), and possibly a cover letter. The need for document translation for international students is highlighted. The speaker introduces Yogit's premium counseling services for guidance through the application process. Additionally, the paragraph discusses scholarships available for MBA students, including the Stanford Reliance Theorubai Fellowship and the Chicago Booth University Scholarships for Indian students, as well as other scholarships like the Harvard Business School Scholarship and the Fort Foundation Scholarship for female applicants.

10:02

🌟 Conclusion on the Worth of an MBA Degree

In the final paragraph, the speaker concludes that pursuing an MBA degree in the US is a worthwhile investment, citing the high salary outcomes and career opportunities it offers. The speaker recommends using Yogit's app for GMAT preparation and other services. The paragraph ends with an invitation for viewers to like the video, subscribe to the channel, and ask questions in the comments section about pursuing an MBA degree or other related topics.

Keywords

💡MBA

MBA stands for Master of Business Administration. It is a graduate degree that combines business and management skills, preparing graduates for careers in management or advancing in their current roles. In the video, the MBA is highlighted as a valuable degree that attracts many students, particularly international ones, due to its comprehensive curriculum and potential for high salary outcomes.

💡Starting Salary

Starting salary refers to the initial income a graduate can expect to earn upon entering the workforce after completing their degree. The video mentions that the average starting salary for an MBA graduate in the US as of 2020 was over $120,000 per year, indicating the significant financial benefits of obtaining an MBA.

💡GPA

GPA stands for Grade Point Average, which is a measure of a student's academic performance. In the context of the video, GPA is important for MBA applications, as it is one of the criteria used by universities to evaluate applicants. The script notes that students admitted to top MBA programs in the US in 2020 had an average GPA of 3.6.

💡TOEFL

TOEFL is an acronym for Test of English as a Foreign Language. It is a standardized test that measures the English language proficiency of non-native speakers. The video mentions that TOEFL scores are a requirement for international students applying to MBA programs, with a good score range being between 90 to 110.

💡GRE/GMAT

GRE stands for Graduate Record Examinations, and GMAT stands for Graduate Management Admission Test. Both are standardized tests used for graduate school admissions, particularly for business programs. The video script mentions that GRE or GMAT scores may be required for MBA applications, depending on the university's requirements.

💡Work Experience

Work experience refers to the practical knowledge and skills gained through employment. In the video, it is suggested that having some work experience, typically between three to seven years, is beneficial when applying for a business or management degree like an MBA.

💡Scholarships

Scholarships are financial awards given to students to help cover the costs of their education. The video discusses various scholarships available for MBA students, such as the Stanford Reliance Theorubai Fellowship and the Chicago Booth University Scholarships, highlighting the financial support opportunities for students pursuing this degree.

💡Application Process

The application process involves the steps a student must take to apply for admission to a university or program. The video outlines the two main parts of the MBA application process: standardized testing (TOEFL, IELTS, GRE, GMAT) and the rest of the application, which includes GPA, resume, letters of recommendation, SOPs, and potentially a cover letter.

💡Part-Time MBA

A part-time MBA is a flexible program designed for working professionals who wish to continue their education while maintaining their careers. The video script mentions part-time MBA programs as one of the options available for students, indicating that not all MBA programs are full-time.

💡Executive MBA

An Executive MBA, or EMBA, is a type of MBA program targeted at more experienced professionals, typically with eight years of work experience or more. The video script includes EMBA as one of the different types of MBA degrees available, emphasizing the variety of options for students at different career stages.

💡PMP Certification

PMP stands for Project Management Professional. It is a certification that demonstrates a person's knowledge and skills in project management. The video mentions PMP certification as a valuable certificate program that can be a good first step for those considering an MBA, particularly for those interested in project management.

Highlights

The average starting salary for an MBA graduate in the US in 2020 was over $120,000.

There are more than two types of MBA programs available, including full-time, part-time, online, executive, early career, global, and certificate programs.

An MBA degree combines business and management skills, offering versatility in career paths.

MBA graduates in the US can expect an 80 to 100 percent increase in their base salary post-graduation.

Diversity in MBA classrooms is a strength, with students from various backgrounds learning together.

At least a four-year bachelor's degree is required to apply for an MBA program.

TOEFL scores are mandatory for international students, with a good range being 90 to 110.

GRE or GMAT scores may be required for MBA applications, depending on university policy.

Work experience of three to seven years is beneficial when applying for a business management degree.

Yakit's online grad school finder helps shortlist universities based on an applicant's profile.

Top MBA programs in the US include Harvard, Stanford, MIT, and Columbia, known for their high cost and prestige.

PMP certification is a valuable stepping stone for those considering an MBA, focusing on project management skills.

The application process includes standardized testing, GPA, resume, letters of recommendation, and SOPs.

International students must ensure all application documents are translated into English.

Yogit offers premium counseling services to guide students through the entire MBA application process.

Scholarships such as the Stanford Reliance Theorubai Fellowship and Chicago Booth University Scholarships are available for Indian students.

Other scholarships include the Harvard Business School Scholarship and the McCombs Scholarship and Fellowship.

The Fort Foundation Scholarship is available for nominated female applicants of Columbia's Business School MBA.

Pursuing an MBA in the US is considered a worthwhile investment with good salary outcomes and career opportunities.

Yogit's app is recommended for GMAT preparation and other services for prospective MBA students.

Transcripts

the average starting salary of an mba

graduate in the us

as of 2020 was upwards of a hundred and

twenty thousand dollars

to know that there are more than just

two types of mba programs available

here are the things that you should have

prepared before you look into applying

to

an mba degree this is where your gpa

matters they are pretty chi-ching and

can be very expensive to attend

the mba program in the us typically

takes about two years to complete as a

full-time student and i know there are

part-time programs available but we'll

get into that a little later

it can cost anywhere between a hundred

and fifty thousand to two

hundred thousand dollars and for all my

indian fam out there

that's over one crore rupees like wow

that is a lot of money

but frankly speaking there's reason why

the mba program in the us attracts so

many students

especially international ones so let's

get into it so in a nutshell the mba

degree

combines business and management skills

to provide graduates that are either

starting a career in management or just

trying to advance in one

with options in literally any course so

one of the things that attracts

graduates

in any field of study is the salary that

that degree provides once you graduate

and this is exactly what the mba offers

it was reported about

80 to 100 percent increase in base

or the previous salary of graduates

after they completed their mba degree

in the us and this combines all of their

scientific and organization skills

to put towards a specific business arena

now i personally think that the best

part about

an mba degree is that it combines and

brings together students from different

backgrounds

like you could be sitting in a classroom

that has engineering

management arts agriculture fashion

students and you're all learning the

same concepts of business

everyone is focused on learning those

tips and tricks

and how to grow their business in their

respective field and i feel like that is

a great culture to be in you don't want

to start your mba application and then

realize that you're missing some of the

key things in your application

so here are the things that you should

have prepared

before you look into applying to an mba

degree it's important that you have at

least a four years bachelor's degree now

this can be whatever you're interested

in

or want to pursue business n toefl

scores are a requirement for

international students as

english proficiency scores a good range

to be in

is anywhere between 90 to 110 but again

remember that this isn't a necessity gre

gmat scores may be required depending on

your university's requirement

and the reason i say this is because

after the pandemic some universities

have offered waivers and some accept

either

so make sure that you check the

university's website to understand

what that college wants and last but not

the least some amount of work experience

is always good when you're applying for

a business based

management degree anywhere between three

to seven years is a good number to be in

so with all this in mind like the

situation that i'm in right now i'm

closing in just about three years of

a working uh professional uh in my

career and

this would be a great time for me to

apply to an mba if i wanted to

and you know i've given this some

thought maybe i just might in the future

but i have the right work experience i'd

have to give my toefl

exam again gre or gmat depending on what

university i want to apply to

and i have all the prerequisites in

place to apply for this degree now even

though i have everything ready i'm still

a young professional who's working a

full-time job

and if i were to you know start looking

into applying to colleges

one of the main tasks would be

shortlisting colleges

and this is where someone could really

be helpful

if they were to provide you with the

right list depending on your scores

depending on your academic and gre

scores gmat scores

so that's where i'd like to introduce

you guys to this week's sponsor

yakit they have an online grad school

finder that helps shortlist universities

based on your profile you can check them

out it's going to be the link in the

description below

and it's very useful so definitely go

ahead and play around with it now while

i was doing my research i found that the

popular

mba programs in the us include harvard

upend stanford mit and colombia now

while all of these almost fall in

basically the iv category they are

pretty chi-ching and can be very

expensive to attend

but i also found that the average

starting salary of an mba graduate

in the us as of 2020 was upwards of a

hundred and twenty thousand 000

per year so i feel like the trade-off

there is pretty

valuable now the other thing i want to

mention is if you're thinking of

applying to mba you should know that

there are more than just two types of

mba programs available

it's not just part-time and full-time

there are different types of mba degrees

and i'm gonna put a screenshot of the

different types offered

on the screen right now uh just to kind

of go over them

apart from full-time and part-time there

are online options there is an executive

mba

for more seasoned professionals with

eight years of experience or more

there's an early career mba for kids who

don't have any work experience

there are global mba degrees and they're

also certificate programs

now here i want to talk about a valuable

certificate program that i'm looking

into personally it's called a pmp

certification

it's basically the project management

certification which is really useful

and can really help you learn skills if

this is something

that you know you need in your working

you know area

so if you want to kind of get a feel of

the mba degree getting a pmp

certification would be a

first would be a good first step to kind

of like see if you'd like the two-year

program or not so now we jump into the

application process now here i like to

divide it into two parts the first part

is your standardized testing and i

already went into this i'm not going to

spend too much time on here

but it's basically your toefl or ielts

and gre gmat so once you have that out

of the way

the second part is the rest of the

application process

and this is where your gpa matters now

in the research that i was doing

i found that the students that were

admitted to some of the top

mba programs in the us in the year 2020

had an

average gpa of 3.6 now this isn't to say

that if you have

less than 3.6 you'll be rejected but it

should give you a rough idea on you know

where the competition lies currently now

apart from the gpa

other things that you need to consider

are your resume

your letters of recommendation your sops

your work experience and in some cases a

cover letter may be necessary too

but the one thing i do want to like give

a disclaimer for

is as international students sometimes

these documents are not in

english for us so before you apply make

sure that every

each one of these documents is

translated to english

if it isn't so already now here i want

to talk about yogit's premium counseling

services where they help guide students

through the entire application process

so if you're interested in checking them

out i would highly recommend it

they'll make the entire application

process very smooth and very easy for

you this brings us to the juicy part

of the video which is scholarships for

all of my indian students

out there who are watching this video

now the first scholarship that i want to

talk about

is the stanford reliance theorubai

fellowship

this covers 80 of the tuition for indian

students pursuing an

mba at stanford the second one is the

chicago booth university scholarships

there are two of these the first one

which offers a million dollars

to an indian student pursuing mba at the

chicago booth school

and the second one which offers 25 000

per year to three

indian students pursuing mba at the

chicago booth business school

so these are some pretty juicy

scholarships if you guys want to check

them out i'm going to leave a link to

them in the description below as well

but for all the other students who are

watching this video who aren't from

india i'm not going to leave you guys

hanging i have a couple scholarships for

you guys as well

some of the interesting ones that i

found were the

hardware harvard business school

scholarship which was offered last year

to

at least 50 of the class at harvard the

awards offered

were up to forty thousand dollars per

year to cover tuition

then we had the mccoombs scholarship and

fellowship where the award ranges

anywhere upwards of two thousand dollars

to a complete tuition waiver and the

last one is the fort

foundation scholarship for nominated

female applicants

of columbia's business school mba that

has

offered this scholarship and the amount

of the scholarship may vary

depending on you know different

circumstances so definitely check

all of these out so this brings us to

the end of this video and let's

answer the most awaited question which

is is it worth it to pursue an mba

degree in the us

now i think throughout this video with

everything that we've seen

it's definitely a good degree to pursue

it's worth it

in the us and statistics show that grads

have a good salary outcome

once they complete the degree so i think

in my opinion it's a very fruitful path

which opens many doors

in terms of career opportunity and if

you're going to do it anywhere i think

the united states is a great place to

invest

in this opportunity um so that's my take

on the subject

also if you're looking if you're just

looking to like start out

with kind of prepping for these exams

definitely check out yogit's app where

you can get started

with the gmat prep and all of their

other services i'm going to link them in

the description below

um so check them out all right guys so

that brings us to the end of the video

if you like this video and you're

watching up till this point definitely

smash that thumbs up button it really

helps the channel a lot

i appreciate all of you guys subscribe

to the channel if you haven't already

if you guys have any questions about any

of the things that i went over

in this video or if you just generally

have any other questions about pursuing

the mba degree

feel free to drop them in the comments

below i'll try to answer all of your

questions

but until then stay safe and i'll see

you guys in the next video probably next

week

take care bye

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