International study programs: MBA
An MBA is a desirable graduate-level degree for young professionals hoping to climb the corporate ladder, develop leadership skills or pivot to another career.
For those looking to study abroad in the U.S., it can be hard to know whether an international education in business management will support their career goals. Here’s what to expect from an MBA program, tips for applying and possible career options beyond school.
What’s an MBA program?
A Master of Business Administration (MBA) is a graduate program, typically two years long, where students become skilled leaders and networkers. Students learn quick and accurate data analysis, business fundamentals and many important soft skills.
Courses you might encounter in an MBA program include:
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- Economics
- Marketing
- Accounting
- Finance
- Operations
While MBAs typically have broad core curriculums, most programs offer concentrations in various subjects such as business analytics and technology management. Abundant networking possibilities, internships and experiential learning opportunities also contribute to the value of MBA programs.
What are the benefits of getting an MBA in the U.S.?
According to the 2024 GMAC Corporate Recruiters Survey, employers continue to express high demand for U.S. MBA graduates in 2024.
MBAs can offer significant return on investment (ROI), but it varies widely between programs. Though it may seem wise at first to avoid costly tuition fees, US News reports that graduates from high-ranking programs earn starting salaries three times higher on average than those who graduate from low-ranking schools.
The initial cost may be higher, but an MBA from a top U.S. institution can pay off in a big way. If your funds fall short, MPOWER offers no-cosigner, no-collateral private loans for students studying at MBA programs in the U.S. and Canada. To help you land a competitive starting salary, MPOWER students get access to exclusive professional development services. These include networking tips, resume building and an F-1 eligible job directory.
For support financing your international education and jumpstarting your dream career in the U.S., apply for an MPOWER loan now.
How to prepare for an MBA program in the U.S.
An MBA is a huge financial and time commitment. Before commencing your international education, consider the following:
Choose the right program for you
Many applicants rely heavily on MBA rankings when determining which schools to apply to. While rankings are valuable, don’t neglect to consider other important factors such as location, available concentrations, school culture and program length.
Once you’ve found the right programs, check if they’re in MPOWER’s list of 400+ schools for loan eligibility. MPOWER-eligible schools are evaluated based on graduation rate, postgraduation employment rate and alumni earnings. Find your school to determine whether your selected program is available for an MPOWER loan.
Reflect on your career goals
Most MBA applications require a statement of purpose (SOP) in which applicants state their case for admission. There’s no perfect format for an MBA SOP; every school’s prompt will be slightly different. A compelling SOP should clearly state your career goals, why an MBA is crucial for your success, why you belong at that particular school, and what you will contribute. Before applying, clarify your ambitions, talents and why this is the right time in your career for an MBA.
Determine how to finance your MBA
Tackling the financial burden of a top U.S. MBA program can be intimidating. Most students require a combination of loans, scholarships and savings to finance their MBA; however, many lenders don’t accept loan applications from international students.
MPOWER helps you receive your MBA through no-cosigner and no-collateral international student loans with competitive interest rates and no prepayment penalty. For additional funding, apply for MPOWER’s international MBA scholarship.
Three jobs you can get with an MBA
An MBA can unlock a wide array of job opportunities for international students. Here are three jobs for MBA graduates with high compensation and excellent job growth forecasts:
Computer and information systems manager
Annual base pay range: US$105,000-US$182,000
Computer and information systems managers employ technical expertise and managerial competency to direct the technological activities in an organization. They must have the necessary communication skills to coordinate with executives and negotiate with vendors as well as the technical skills to oversee the maintenance of complex computer systems.
Personal finance advisor
Annual base pay range: US$71,000-US$132,000
Personal financial advisors help manage their client’s money and financial futures. They use interpersonal and analytic reasoning skills to create budgets and retirement plans, offer investment advice and help clients navigate taxes, insurance and mortgages.
Medical and health services manager
Annual base pay range: US$80,000-US$135,000
Medical and health services managers direct and coordinate the business activities of healthcare facilities such as hospitals and nursing homes. As detail-oriented problem solvers, they keep meticulous records and make sure organizations comply with regulations.
Final thoughts: Getting an MBA in the U.S.
No matter your passion or academic background, an MBA can give you the necessary network, knowledge base and leadership skills to achieve your career goals.
If you plan on studying in the U.S. and need help financing your MBA program, learn how an MPOWER international student loan can support your education at any of the top MBA programs in the U.S.
