CEU Business

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Why USA Is The Mecca For Administrative Degrees?

Be it an executive MBA program or a full time one, the United States Of America is the known place for the top brands of institutes. It is one country that has the highest number of prestigious universities around the world. A B-school degree already holds the position of being the most impressive and significant professional course. When awarded from a superior college based in America, the privileged status rises even beyond. Today, we take a look as to why the US is home to the crème de la crème of business schools.

• A Glimpse Of History
Out of the top hundred business administrative programs in the world, over fifty are located in the US alone. These stats, provided by the Financial Times’ Global MBA Rankings, attest that the country holds the reign of the academic sector. And it does so almost uncontestably. The first reason why America is the mecca of MBA degree lies in its history. The program is said to have originated in the nation. The degree was birthed to find a “scientific approach towards business management” by the University of Pennsylvania.
Most believe that it was at the tail end of 1800’s that the first version of MBA was taught. Training was given by Wharton to students on finance, law, marketing, accounting, etc. to successfully run a business. The second to jump on the wagon was Dartmouth’s Tuck, but the first real MBA was awarded by none other than Harvard. Slowly, other colleges around the nations began to realise the value of training future managers beforehand rather than have them floundering on the job.

• A Glimpse of the Present:

The appreciation of the worth of “academic training vs. letting them figure it out on the job” lasts till today. It is why colleges that offer business programs keep cropping up. But superior schools that originated MBA is one side of the coin. The flipside is the economy of America. At present, USA has the highest GDP per capita on the globe. China might be crawling and playing catch up, but even then, the USD is way too high. A strong economy means that the biggest corporations around the world want to stake their claim to it.

The most well-known corporate giants are, therefore, based in America. They are the largest employers in the nation which mean there is a constant demand for employees with a management degree along with other specialised programs. Did you know that as per Financial Times Global 500 rankings more than 40% of companies are based out of US? And these stats are three years old; the numbers would have increased exponentially by now.

When the top employers of MBA graduates are on American Soil, it stands to reason that colleges that provide the degree will be there too. The country has the advantage of employment, and thus, is the first preference of all management aspirants. The best schools offer the best managers to the best corporations, and that is the top reason for the success of the reputed B-schools in the US.

USA top ranked business school working in laptop

The Top Ranked Management Schools In The US

Talking about the best business schools in the one, the first that comes in mind is Harvard University. This University is known globally for its management programs and happens to be the top place for the best of the academia to come together. When it comes to ranking of business schools the number one in the ranking list the Harvard University in Boston, MA. This is followed by the University of Chicago at Chicago, IL, and University of Pennsylvania at Philadelphia. It is the dream of many students to study and graduate out of a world-class business school. While there are several business schools all over the US, getting an admission into one of them can be quite a challenge. The Harvard University Business School offers several areas of specialty such as:
· accounting,
· consulting,
· e-commerce,
· economics,
· entrepreneurship,
· ethics,
· financial management
· general management
· health care administration,
· human resources management,
· international business,
· leadership,
· technology and manufacturing management
· marketing,
· “not-for-profit” management,
· production and operations management,
· Organizational behavior, among others.

Other areas of specialization include public administration, portfolio management, real estate, public policy, sports business, logistics, quantitative analysis and statistics, operations research, supply chain management tax, and technology.
Its tuition fees for a year is $72,000 for the full-time program. After graduation, about 78.9 percent of the graduates from the full-time program are employed.

The Costs Involved In Full Time Management Courses
Another top ranking business school in the US happens to be the Universityof Chicago, IL. Better known as the Booth School of Business, it offers areas of specializations such as economics, marketing, accounting, entrepreneurship, finance, international business, general management, organizational behavior, public policy, and quantitative analysis/statistics and operations research, management information systems, production, and operations management. Its tuition fee per year for the full-time program is about $69,200, and for the part-time program it is $6,854 per credit; for the total program for executives, it is $184,000. After graduation from this business school, about 88 percent of the graduates of the full-time program get employment.

For many people graduating out of a top business school is pivotal in deciding their success. In fact, there are several well-known CEOs of hugely popular global companies who have graduated from one of these top-rated business schools. The alumni of the Harvard School of Business include Meg Whitman CEO of Hewlett Packard, James Dimon who is the CEO of JPMorgan and Chase, and Jeffery Immelt who is the CEO of General Electric. People see Harvard as a dream come true if they were to get admission into it for the various programs that it offers. It wouldn’t be wrong to say that students are continually aspiring to get into Harvard Business Schools.

There are also several part-time programs offered by the University of California, the University of Chicago and the Northwestern University at Illinois. These courses are suitable for students who are working during the day, so the classes are usually during the evenings or on the weekends. An MBA program has several specializations such as accounting, marketing, finance, management, entrepreneurship and so on.

Portrait of business people in business school raising hands in training session

Quality Business Education In Business Schools

Business schools in the US are much sought after by students both within the US and outside it. In fact, it is the dream of many students to join a good business school, because it could be a crucial factor for their long-term success. The biggest challenge that many students may face apart from the academic competition that they may have to through is the fees for the programs. To many aspiring students, the fees might be a rather big amount and is definitely not to be taken lightly. However, Harvard and Stanford have a reputation like no other when it comes to its global ranking as the top business schools in the globe and the quality of its education.

As far as Harvard School of Business is concerned, the tuition fees is $56,175 for a full-time program and have about 1800 full-time students in 2015. Stanford University at California is just a little more expensive with the full-time program costing roughly 59 thousand dollars and only a little less than 1000 students (805 in 2015). The University of Pennsylvania (Wharton) at Philadelphia, PA, in the US which is ranked at number three among the top business schools, costs $59,736 per year. These three universities are much in demand because of the quality of the programs that it offers and its
· highly intensive and
· extensive teaching methodology.

The University of Michigan, Ann Arbor, MI, is ranked as number four in the ranking for business schools. The fee for the full-time course at this university is about $52,200 for a year. Ranked at number 5, the Northwestern University (Kellogg) at Evanston, IL, costs about $59,085 for a year. The University of Virginia, Darden, at Charlottesville, Virginia cost which is ranked at number 6 among business schools costs about $48,402 with about 600 students enrolled for its full-time programs. The Dartmouth College (Tuck) at Hanover, NH, is ranked number 7 in the B school rankings and costs about $58,935 per year for the full-time program. This University has about 560 students enrolled in its programs. Ranked number 8 for the best management graduated programs is the University of California at Berkeley. With an enrolment of about 560 students, the fee for this program is about $51,412 for a year. They also have out of state programs which cost about $53,959 per year programs.

From this, it can be seen that the cost for these graduate management programs is relatively expensive, but it is guaranteed to help aspiration management executives in making wise management decisions. Several alumni of these B schools have risen to some of the topmost leaders in the global market and carved a niche for themselves in the global scene. Some of these alumni include the CEOs of top international brands such as General Electricals, JP Morgan, and many others who are known for their management skills all over the world. Thus we see that graduating out of a management business school that is ranked as one of the best has several merits, even though it may require some investment concerning fees.

Management Program Rankings According To QS

When it comes to Master of Business Administration programs in the US, there are several highly ranked Business Schools offering an MBA program. The MBA happens to be one of the most competitive courses that are highly sought after by students both from the US and abroad. As far as rankings are concerned, topping the list is the Stanford program for MBA. As a matter of fact, Stanford happens to number one in both the global ranking and that in the US. The course fees is roughly about $141,000 and are for a duration of 24 months. The class has about 418 students and 40 percent of this is made up of female students. The remarkable thing about this institution is that students from about sixty-one countries come together to pursue this course. We see that:
· As far as QS ranking is concerned, Harvard is no more ranked number one, but has slipped down to number two.
· However, students from Harvard are seen as the most employable with high business positions being offered to them.
· It wouldn’t be wrong to say that Harvard enjoys an excellent reputation for being one of the topmost Business schools in the world, and one of the most sought after by students across the globe.

Rankings Of Business Schools In The US
Coming third on the list is the Wharton School of Business at the University of Pennsylvania. Known for the leadership skills that it provides to its students, this business school has an MBA program that costs about $157000, with a course duration of 21 months. Students from 65 countries around the globe study in this business school.

Ranking fourth is MIT’s Sloan School of Management, and it has a 24 month MBA program. One of the unique features about this business school is that it offers what is known as an MIT lab for students to know all about the discoveries and innovations happening within the campus and the scope for further research. It is believed that creating such an environment for the students can even help to solve more crucial global problems. The tuition fees is about $148, 000.

Fifth on the list is the Booth school of business belonging to the University of Chicago. The course of the management program is 21 months. The best feature about the management programs in this business school is that it offers what is known as a flexible curriculum. There are about 582 students in the class, and the course fees are about $144,000.

Ranking sixth in the Colombia Business School, with a course fees of about $148000. The most interesting feature about this Business school is that it is located in New York City, making it deeply connected to the city itself. The duration of the management program is 24 months.

Ranking seventh is the UCLA’s School of management which is also known as Anderson School of Management, at Los Angeles, having a 22 month duration for its management program. Closely following this is the Kellogg’s School of Management belonging to the Northwestern University, and is ranked eighth in the global ranking.