MBA, which stands for Masters in Business Administration and was first offered by Harvard University's Graduate School of Administration (now Harvard Business School) in 1908, is the original graduate degree offered by business schools worldwide. Having the letters "MBA" on your resume will help you stand out to employers, but the true meaning of the MBA extends beyond three letters on a sheet of paper. An MBA will help you expand your business knowledge, expand your professional network, and advance your career and salary prospects. Choosing between an MBA in the UK and an MBA in the US can be difficult. Both destinations are well-known for their education, have a diverse global culture, and provide access to a wide range of career opportunities.
But how do you pick the best country for you? This comprehensive comparison guide will tell you everything you need to know before making your decision.
Why get an MBA from the UK?
Duration: The courses are shorter in the UK than in the USA. It is so because the curriculum is focused on theory in the UK and usually wraps up within a year.
Course offering: The UK offers a wide variety of courses, like Human Resources, Informative Systems, Accounting, Economics, Finance, and Marketing.
Robust research platform: According to research conducted by the Research Excellence Framework, 46 percent of university research in the UK is considered internationally excellent, and 30 percent is considered world-leading. Overall, the county has a vital infrastructure for student-led research.
Why get an MBA from the USA?
Networking opportunities: with top business schools and the best MBA institutions, the USA does not disappoint. Getting your degree from one of these institutes will open you to a plethora of networking opportunities, which will be a ladder to your career.
Quality of business schools: rankings aren’t the only thing you should focus on when looking for universities to study in; yet, they are a good benchmark for knowing some top institutes. In the FT global MBA rankings, the USA has secured the top two places with its University of Pennsylvania: Wharton and Columbia Business School.
The privilege to work with the best: top recruiting companies in the US are Amazon, and Google, which provide you with the best opportunities and pay well, which is an excellent start to your career.
Top universities in the USA
If you want to get your MBA degree in the USA, here are a few top colleges you should consider enrolling in; Chicago Booth, University of Pennsylvania, Columbia Business school, UCLA Anderson School of Management, and many more.
Here are some requirements needed to meet to get enrolled:
1. 4 years of undergrad education from a recognized institution
2. 720-730 score in GMAT
3. 3 – 6 years of work experience
4. TOEFL or IELTS scores are an essential criterion for eligibility
5. A competitive CGPA in your previous degree will give you an added advantage
Top Universities in the UK
If you want to pursue your MBA in the UK, then these colleges can be a healthy option for you to get yourself into; London Business School, Warwick Business School, University of Oxford, University of Cambridge, and the list goes on.
Here are some requirements you need to meet to get enrolled:
1. 3 years of undergrad education from a recognized institution
2. 680-690 score in GMAT
3. 2 – 4 years of work experience
4. TOEFL or IELTS scores
Although there are many opportunities accessible in the UK and, the USA that offer scholarships that are often superior. Merit-based, need-based, and scholarships for underrepresented populations are the three categories of scholarships offered at both locations. Here are a few you might research:
1. The Scholarship from the London Business School Fund
2. Scholarships at Oxford Sad Business School
3. Scholarship for the Cambridge Judge Business School
4. Scholarship for International Students from BrokerFish
5. The 30% Club scholarship
1. Fullbright Foreign Student Program
2. Harvard University Scholarships
3. Wharton’s Emerging Economy Fellowships
4. NYU Stern School of Business Scholarship
5. University of Chicago Booth School of Business Scholarship
Part-time jobs in the US
Here are seven career paths where an MBA is advantageous, and salaries are generous. Most of these positions excelled in the U.S. News Best Jobs rankings, which evaluates jobs using compensation statistics, unemployment figures, job growth forecasts, and measurements of on-the-job stress and work-life balance.
1. Business operations manager
2. Financial manager
3. Human resources manager
4. Information technology, or IT, manager
5. Management consultant
6. Marketing manager
7. Medical and health services manager
Part-time jobs in the UK
One of the rare nations that permit international students to work even off-campus is the United Kingdom. During the semester, students are permitted to work up to 20 hours a week and full-time during breaks.
Contrary to popular assumption, students can readily find part-time work in larger cities like Birmingham and London. During the holidays, students are permitted to work full-time. For most overseas students, taking part-time and vacation jobs doesn't require approval. The "sandwich course" option of placements or internships is available to students. Also, check out this blog to know the benefits of doing a part-time job as a student.
1. Operations Manager
2. Management Consultant
3. Marketing Manager
4. Project Manager
Job prospects in the UK
Are you wondering how much you will make once you’ve graduated with an MBA degree? The following table will give you an approximate value of your salary, by various professions.
Job prospects in the USA
The USA is known for its connections to the world, and the business schools there do not disappoint when it comes to their student placements. Top companies like Amazon, Google, and Apple recruit from top colleges in the US, and here are some of the job profiles with their average salary.
What is a good GMAT / GRE score?
A GRE score of 300 is above average, while 320 and above will get you into most top colleges. A GMAT score of 700 and above is good enough for most top colleges.
Can I do an MBA in the USA without GRE/GMAT?
Most universities require you to submit your GMAT or GRE score, but some will make exceptions for students with impressive work experience.
Both countries have pros for completing your MBA; while choosing the same for yourself, ensure you have your mindset, needs, and goals set before you take a step. Check out this blog to know the difference between MBA and MIM.