Every year since the launch of QS’ TopMBA.com Applicant Survey, the US has been named as the most popular MBA study destination in the world. While the US MBA dominance has gradually decreased over the years, the country where the MBA was first developed remains clearly in the lead.
In fact, in the QS Global 200 Top Business School Report for North America, 17 of the top 20 business schools are located in the USA. Although the North American rating is only inclusive of business schools located in Canada and the USA, this shows a clear dominance.
Harvard Business School probably began business education back in 1908, however Tuck School of Business in New Hampshire also claims to have created the first actual MBA.
Either way, for decades, the concept of taking an MBA remained a North American phenomenon. It wasn’t until much later, in the 1950s and 1960s, that INSEAD in France and then other institutions such as London Business School and Manchester Business School filled the gap in Europe.
However, the main difference between MBA programs in North America and elsewhere is the mode of study. While Western Europe, Asia and much of the rest of the world tend to offer shorter course lengths, MBA programs in the USA and Canada tend to be of two-years in length. This affords students with the benefit of enrolling on an MBA internship during their summer break, increasing the vocational aspect of the programs, and the employability of MBA graduates.
The USA’s MBA landscape
The top ten business schools in the USA, according to MBA employers and recruiters contributing to QS’ MBA rating are: Harvard Business School, University of Pennsylvania: Wharton, Northwestern University: Kellogg, Stanford University, Columbia Business School, University of Chicago: Booth, MIT: Sloan, UC Berkeley: Haas, University of Michigan: Ross, and Duke University: Fuqua.
While these famous schools are considered to produce some of the most employable MBAs in the world, it should be noted that due to the extremely high level of competition in the USA, many other business schools in the country also score well.
With regards to job availability in the country, MBAs graduating in the USA will enjoy a 5% increase in the amount of MBA jobs available by the end of 2011, according to recruiters and employers responding to the QS Top MBA Jobs and Salary Trends Report.
North America is the highest paying region in the world for MBA graduates, remaining slightly ahead of Western Europe according to QS’ jobs and salaries report, though MBA salaries reported by top European Business Schools are now often ahead of those reported by US schools. Currently, the average salary earned by MBA graduates in the USA stands at US$88,485.
These salary figures, along with the two-year MBA program format remaining the dominant mode of study in the US is the most likely reason why the country has managed to keep its title as the preferred MBA destination the world over, as candidates still see the global superpower as offering a unique MBA experience that, while rivalled with Western Europe and the growing business education hub of Asia, appeals because of its notoriety, earning potential, employability and vocational mode of study.
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