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

Crazy Medusa
26 Jun 202110:51

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

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.

Mindmap

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

play00:00

the average starting salary of an mba

play00:02

graduate in the us

play00:03

as of 2020 was upwards of a hundred and

play00:06

twenty thousand dollars

play00:07

to know that there are more than just

play00:08

two types of mba programs available

play00:11

here are the things that you should have

play00:13

prepared before you look into applying

play00:15

to

play00:16

an mba degree this is where your gpa

play00:18

matters they are pretty chi-ching and

play00:20

can be very expensive to attend

play00:23

the mba program in the us typically

play00:25

takes about two years to complete as a

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full-time student and i know there are

play00:29

part-time programs available but we'll

play00:31

get into that a little later

play00:33

it can cost anywhere between a hundred

play00:35

and fifty thousand to two

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hundred thousand dollars and for all my

play00:39

indian fam out there

play00:40

that's over one crore rupees like wow

play00:43

that is a lot of money

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but frankly speaking there's reason why

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the mba program in the us attracts so

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many students

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especially international ones so let's

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get into it so in a nutshell the mba

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degree

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combines business and management skills

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to provide graduates that are either

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starting a career in management or just

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trying to advance in one

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with options in literally any course so

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one of the things that attracts

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graduates

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in any field of study is the salary that

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that degree provides once you graduate

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and this is exactly what the mba offers

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it was reported about

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80 to 100 percent increase in base

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or the previous salary of graduates

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after they completed their mba degree

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in the us and this combines all of their

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scientific and organization skills

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to put towards a specific business arena

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now i personally think that the best

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part about

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an mba degree is that it combines and

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brings together students from different

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backgrounds

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like you could be sitting in a classroom

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that has engineering

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management arts agriculture fashion

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students and you're all learning the

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same concepts of business

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everyone is focused on learning those

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tips and tricks

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and how to grow their business in their

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respective field and i feel like that is

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a great culture to be in you don't want

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to start your mba application and then

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realize that you're missing some of the

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key things in your application

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so here are the things that you should

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have prepared

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before you look into applying to an mba

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degree it's important that you have at

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least a four years bachelor's degree now

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this can be whatever you're interested

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in

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or want to pursue business n toefl

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scores are a requirement for

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international students as

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english proficiency scores a good range

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to be in

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is anywhere between 90 to 110 but again

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remember that this isn't a necessity gre

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gmat scores may be required depending on

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your university's requirement

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and the reason i say this is because

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after the pandemic some universities

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have offered waivers and some accept

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either

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so make sure that you check the

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university's website to understand

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what that college wants and last but not

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the least some amount of work experience

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is always good when you're applying for

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a business based

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management degree anywhere between three

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to seven years is a good number to be in

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so with all this in mind like the

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situation that i'm in right now i'm

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closing in just about three years of

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a working uh professional uh in my

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career and

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this would be a great time for me to

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apply to an mba if i wanted to

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and you know i've given this some

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thought maybe i just might in the future

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but i have the right work experience i'd

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have to give my toefl

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exam again gre or gmat depending on what

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university i want to apply to

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and i have all the prerequisites in

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place to apply for this degree now even

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though i have everything ready i'm still

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a young professional who's working a

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full-time job

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and if i were to you know start looking

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into applying to colleges

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one of the main tasks would be

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shortlisting colleges

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and this is where someone could really

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be helpful

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if they were to provide you with the

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right list depending on your scores

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depending on your academic and gre

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scores gmat scores

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so that's where i'd like to introduce

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you guys to this week's sponsor

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yakit they have an online grad school

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finder that helps shortlist universities

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based on your profile you can check them

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out it's going to be the link in the

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description below

play04:10

and it's very useful so definitely go

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ahead and play around with it now while

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i was doing my research i found that the

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popular

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mba programs in the us include harvard

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upend stanford mit and colombia now

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while all of these almost fall in

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basically the iv category they are

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pretty chi-ching and can be very

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expensive to attend

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but i also found that the average

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starting salary of an mba graduate

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in the us as of 2020 was upwards of a

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hundred and twenty thousand 000

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per year so i feel like the trade-off

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there is pretty

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valuable now the other thing i want to

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mention is if you're thinking of

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applying to mba you should know that

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there are more than just two types of

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mba programs available

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

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there are different types of mba degrees

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and i'm gonna put a screenshot of the

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different types offered

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on the screen right now uh just to kind

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of go over them

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apart from full-time and part-time there

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are online options there is an executive

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mba

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for more seasoned professionals with

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eight years of experience or more

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there's an early career mba for kids who

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don't have any work experience

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there are global mba degrees and they're

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also certificate programs

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now here i want to talk about a valuable

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certificate program that i'm looking

play05:27

into personally it's called a pmp

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certification

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it's basically the project management

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certification which is really useful

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and can really help you learn skills if

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this is something

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that you know you need in your working

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you know area

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so if you want to kind of get a feel of

play05:44

the mba degree getting a pmp

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certification would be a

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first would be a good first step to kind

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

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program or not so now we jump into the

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application process now here i like to

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divide it into two parts the first part

play05:58

is your standardized testing and i

play06:00

already went into this i'm not going to

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spend too much time on here

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but it's basically your toefl or ielts

play06:06

and gre gmat so once you have that out

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of the way

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the second part is the rest of the

play06:11

application process

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and this is where your gpa matters now

play06:14

in the research that i was doing

play06:16

i found that the students that were

play06:18

admitted to some of the top

play06:19

mba programs in the us in the year 2020

play06:22

had an

play06:23

average gpa of 3.6 now this isn't to say

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that if you have

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less than 3.6 you'll be rejected but it

play06:30

should give you a rough idea on you know

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where the competition lies currently now

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apart from the gpa

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other things that you need to consider

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are your resume

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your letters of recommendation your sops

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your work experience and in some cases a

play06:45

cover letter may be necessary too

play06:47

but the one thing i do want to like give

play06:50

a disclaimer for

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is as international students sometimes

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these documents are not in

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english for us so before you apply make

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sure that every

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each one of these documents is

play07:00

translated to english

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if it isn't so already now here i want

play07:04

to talk about yogit's premium counseling

play07:06

services where they help guide students

play07:08

through the entire application process

play07:11

so if you're interested in checking them

play07:13

out i would highly recommend it

play07:14

they'll make the entire application

play07:16

process very smooth and very easy for

play07:18

you this brings us to the juicy part

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of the video which is scholarships for

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all of my indian students

play07:24

out there who are watching this video

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now the first scholarship that i want to

play07:28

talk about

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is the stanford reliance theorubai

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fellowship

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this covers 80 of the tuition for indian

play07:35

students pursuing an

play07:36

mba at stanford the second one is the

play07:39

chicago booth university scholarships

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there are two of these the first one

play07:44

which offers a million dollars

play07:47

to an indian student pursuing mba at the

play07:50

chicago booth school

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and the second one which offers 25 000

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per year to three

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indian students pursuing mba at the

play07:58

chicago booth business school

play08:00

so these are some pretty juicy

play08:01

scholarships if you guys want to check

play08:02

them out i'm going to leave a link to

play08:04

them in the description below as well

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but for all the other students who are

play08:08

watching this video who aren't from

play08:10

india i'm not going to leave you guys

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hanging i have a couple scholarships for

play08:14

you guys as well

play08:15

some of the interesting ones that i

play08:17

found were the

play08:18

hardware harvard business school

play08:20

scholarship which was offered last year

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to

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at least 50 of the class at harvard the

play08:26

awards offered

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were up to forty thousand dollars per

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year to cover tuition

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then we had the mccoombs scholarship and

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fellowship where the award ranges

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anywhere upwards of two thousand dollars

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to a complete tuition waiver and the

play08:39

last one is the fort

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foundation scholarship for nominated

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female applicants

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of columbia's business school mba that

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has

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offered this scholarship and the amount

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of the scholarship may vary

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depending on you know different

play08:54

circumstances so definitely check

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all of these out so this brings us to

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the end of this video and let's

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answer the most awaited question which

play09:02

is is it worth it to pursue an mba

play09:05

degree in the us

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now i think throughout this video with

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everything that we've seen

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it's definitely a good degree to pursue

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it's worth it

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in the us and statistics show that grads

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have a good salary outcome

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once they complete the degree so i think

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in my opinion it's a very fruitful path

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which opens many doors

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in terms of career opportunity and if

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you're going to do it anywhere i think

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the united states is a great place to

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invest

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in this opportunity um so that's my take

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on the subject

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also if you're looking if you're just

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looking to like start out

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with kind of prepping for these exams

play09:41

definitely check out yogit's app where

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you can get started

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with the gmat prep and all of their

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other services i'm going to link them in

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the description below

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um so check them out all right guys so

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that brings us to the end of the video

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if you like this video and you're

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watching up till this point definitely

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smash that thumbs up button it really

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helps the channel a lot

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i appreciate all of you guys subscribe

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to the channel if you haven't already

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if you guys have any questions about any

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of the things that i went over

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in this video or if you just generally

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have any other questions about pursuing

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the mba degree

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feel free to drop them in the comments

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below i'll try to answer all of your

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questions

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but until then stay safe and i'll see

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you guys in the next video probably next

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week

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take care bye

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[Music]

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[Music]

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you

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