MBA in US

[Anu]

Hi There,

I and my Fiance are planning to do MBA from US, But before i decide on anything... i want to know what kind of expenses i am gonna face there.

We are Indians and looking for advice from some indians who have gone thru this,
And others too are invited if they can tell abt Fees and Livivng expense for two of us.

We will be leaving our job for MBA.
And hoping something better to achive in our life as from few years growth has been very low in my field and i want to give it a push.

Highly appreiciate your suggestions in advance.

Cheers
Anurag

[twostep]

You did not say much in your post.

Basically you have to be admitted to a schools MBA program. Google is your best friend. School related fees such as tuition you will find on a schools web site or through the foreign student office. Cost of living varies from school to school. It is impossible to give even a rough estimate. You will have to provide proof off funds for the first year's school and living expenses plus the source for the remainder of your stay. Scholarships and financial aid is available to foreign students but very limited. Depending on your visa you may be allowed to work limited hours and on campus only.

You understand that an MBA from a US school does not mean you will be able to remain in the US after you graduate; there is a potential one year extension for a field related internship.

[Anu]

Originally Posted by twostep

You did not say much in your post.

Basically you have to be admitted to a schools MBA program. Google is your best friend. School related fees such as tuition you will find on a schools web site or through the foreign student office. Cost of living varies from school to school. It is impossible to give even a rough estimate. You will have to provide proof off funds for the first year's school and living expenses plus the source for the remainder of your stay. Scholarships and financial aid is available to foreign students but very limited. Depending on your visa you may be allowed to work limited hours and on campus only.

You understand that an MBA from a US school does not mean you will be able to remain in the US after you graduate; there is a potential one year extension for a field related internship.

Hi Thx for ur prompt reply,

Okay let me more clear.

I am not sure which uni in US i m gonna go for admission , it all depends on My GMAt score.

I am getting married to my GF in Dec, We both are software engineers, and have dream of doing MBA nd move to management side.

We are thinking to go for GMAT this year and then try our luck for Uni in US. But before we go ahead with preperation, i want to know what are kind of expenses i m gonna face.

Cost of living for 2 in US( I know it depends on which city i m, but still a rough idea)
What is college fee in US.

And how is job market doing over there...

As there isno point working in india after investing huge amt of money in MBA and getting nothing out of it.

Hope this helps.

Cheers
A

[Bevdeforges]

The college fees are the big variable, especially in your case, as you'll be footing the bill by yourself. Harvard publishes some guidelines here: Cost Summary - MBA - Harvard Business School - most other schools do something similar.

State universities with good MBA programs will cost somewhat less, but you'll be paying "out of state" fees for at least the first year you're there, and state universities tend to prefer giving financial aid to in-state students (whose parents have been paying state taxes all these years).
Cheers,
Bev

[twostep]

As I said before - tuition expenses check various schools web sites or contact the foreign. student office. You just have to do some homework. Google is your best friend.

Not even a fortune teller will be able to tell you how the job market will be doing by the time you finish your degree. Unless you are specialized not very good for H1B right now. Just check job postings on IT specific boards.

What is the cost of living in India? Same unanswerable question. The town I live in has three universities plus several niche colleges (law and nursing). There is virtually no public transportation so your first expense would be a vehicle plus insurance. Rent for a 2 bedroom apartment goes from 600 to 3000$. It depends on your needs, expectations.

[excessive]

An MBA in the US will cost anywhere from around $20,000 for an "online" school, to upwards of $30,000-$40,000 for a decent school with a good reputation, to over $100,000 for one of the Top M.B.A. schools.

I am working my MBA right now, I chose a state school with a good reputation. ( mid-price range)

[Joppa]

Originally Posted by Anu

We will be leaving our job for MBA.

Because of the high cost of doing MBA in the States, esp at prestigious institutions like Ivy League, most overseas students have been sponsored by their employers (or until the current recession has drastically pruned such budgets). Self-financing a worthwhile MBA in the US will cost an arm and a leg, esp for those coming from developing countries. Leaving your current job and sinking almost all your funds in getting a US MBA may not be the wisest career move in the current climate.

[katerinaver]

First of all you need to have a significant amount of cash with you. If you are not sponsored by an employer, as mentioned before you will have to have a significant amount of money. Foreign students are only allowed to study here with a financial proof and tuition out of state is extremely expensive. There are probably scholarships that you can apply to . Research that in your own country and online. There are many fellowships out there.
As far as for other expenses, it depends where you live. In california housing is really expensive but in the middle of america it might be significantly cheaper. To give you some numbers: housing: apartment $1500(ca) +food expenses at least $4000/month, less if housing is cheaper.
When choosing colleges it is a good idea to go on craigslist and see how much it would cost to rent an apartment in that area. Also many times the university offers housing as well, even for MBA students!

Good luck! If you have any more questions please ask away, I am in university right now and have researched all of this a great deal!

[JohnSoCal]

There is another approach that you may want to consider. You mentioned that you are both Software Engineers. You therefore should qualify for a H1B visa if the quota hasn't been filled for this year. You will need to find a US employer that is willing to hire a H1B candidate. The law was changed a few years ago allowing H1B people to change employers. There are thousands of Software Engineers from India working in the US on H1B visas. I am a retired Software Design Consultant and I worked with hundreds of engineers from India. The job market is slow right now, but there are jobs if you look hard enough and it is getting better.

There are several advantages to this approach. First, you will not have to worry about expenses the same as you will be working. Second, it will allow you to get acclimated to the US before committing to a particular university. You will be able to qualify for resident status in many states. In California you qualify for resident fees at any state university after 1 year of residence in the state regardless of how you got here. Tuition for residents is quite low in California. You will establish connections here with people that can help you while you are working. There is a very large community of engineers, managers, etc. from India in the San Francisco Bay Area ( metro San Jose aka Silicon Valley ). There are even high tech companies owned by Indians in the area. I did 90% of my business there as it was my favorite area to work and live.

There is a considerable difference in the cost of living across the US. One city could have a cost of living twice as high as another. The good thing is that if you are working the salaries are generally in line with the cost so it balances out.

This way will delay you getting your MBA but may be worth it in the long run. I assume you are not very old so waiting a year or 2 will not hurt you.