This is why I’m doing an MBA in USA | MBA After Biomedical Engineering?
Summary
TLDRThis 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
💼 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.
📚 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.
🌟 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.
Mindmap
Keywords
💡MBA
💡Starting Salary
💡GPA
💡TOEFL
💡GRE/GMAT
💡Work Experience
💡Scholarships
💡Application Process
💡Part-Time MBA
💡Executive MBA
💡PMP Certification
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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