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.