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.