The United States has been the land of opportunities, international business, and innovation for many years now. It is a popular destination among international and domestic students alike not only because of the evident cultural diversity but also because of the promising career opportunities it offers to its graduates. Today, EDUopinions will compare two of the most famous business schools in the United States. Although they are located in California and Pennsylvania, which are in the western and eastern parts of the USA respectively, they have many similarities.
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Stanford Graduate School of Business
What You Need To Know
Located in Palo Alto, California, USA, Stanford Graduate School of Business (also known as Stanford GSB or GSB) is one of the seven schools at Stanford University. With almost 95 years of experience, GSB offers four types of postgraduate degrees in the fields of business and management – Master of Business Administration (MBA), Doctor of Philosophy (PhD), Master of Science in Management (MSx), and Stanford Executive Education (SEP). It should be highlighted that all programmes offered at GSB are full-time.
The MBA programme at Stanford GSB has a duration of 2 years and some of its admission requirements are: an undergraduate degree, English language proficiency certificate (minimum score required for IELTS is 7, internet-based TOEFL is 100, and academic PTE is 68), quantitative proficiency certificate (GMAT or GRE), letters of reference, letters of motivation (also known as essays), and resume. It is worth noting that work experience is not required for entry to the Stanford MBA Programme. Applications from college seniors, recent graduates of undergraduate studies, as well as individuals with all levels of professional experience, are welcomed.
Applicants of the MBA programme at GSB come from various undergraduate backgrounds, such as:Business, Engineering, Math, Natural Sciences, Humanities, and Social Sciences. In addition, in the academic year 2018-2019, 41% of the MBA students were female, 42% were international, and 27% were minorities.
Fees, Funding, and Scholarships
The tuition fee for the MBA programmes offered by GSB is 70,590 US Dollars. Also, GSB predicts that in addition to the university tuition fees, students would need about 45,207 US Dollars for other living expenses (accommodation, books, insurance, health, and transportation). It should be highlighted that in the academic year 2018-2019, 70% of the first year MBA students were offered financial aid in the form of loans and/or fellowships.
Students’ Opinions
According to the following review, not only the courses are practical and prepare students for the job market, but the location of the campus and California’s pleasant weather also play important roles in motivating the students to stay focused and inspired all the time.
I love Stanford! This school creates an almost perfect environment to learn, play and grow. Being at such school expands your horizon and each day you are inspired by the remarkable projects and organisations you and your friends are involved with. Stanford makes its students believe that anything and everything is possible! From the first year at this school, you can be involved in any aspects of student life you are passionate about! Keeping this short, the campus is also beautiful and our location in California blesses us with great weather and the evergreen vegetation! Each day, I wake up eager to learn new things and explore more of my interests in this warm, resourceful environment which makes it possible.
The Good
GSB is one of the top business schools in the world. According to the Financial Times Global MBA Ranking 2019, the school has been on top of the list (at rank No. 1) for three consecutive years. In addition, according to Forbes’ 2017 Ranking of Best Business Schools in the USA, Stanford GSB’s MBA programme is ranked No. 2.
Wharton Business School
What You Need To Know
With almost 140 years of experience, Wharton is the world’s first business school. Located in Philadelphia, Pennsylvania, USA, Wharton is the business school of the University of Pennsylvania (also known as UPenn or Penn). This school offers courses for both undergraduate and postgraduate degrees. Some of the courses offered for postgraduate students are: Wharton MBA Programme, Wharton MBA Programme for Executives (EMBA), Wharton Doctoral Programmes, and Wharton Executive Education.
For entry to MBA programme at Wharton, applicants need to submit an undergraduate and/or other equivalent degrees, certificate of GMAT or GRE tests, certificate of English language proficiency (TOEFL or PTE) for international students who do not use English as a first language, letters of recommendation, letters of motivation (also known as essays), and resume. This programme has a duration of 2 years and is offered full-time.
According to the their interest, passion, as well as educational background, students can choose among 19 different types of MBA majors – Accounting, Business Analytics, Business Economics, Energy & Sustainability, Finance, Health Care, Marketing, Real State, Management, Statistics, to name a few. In addition, at Wharton diversity and gender equality are important: 44% of the applicants to MBA degrees are identified as female, 32% of the students are international and 32% are students of colour.
Fees, Funding, and Scholarships
The tuition fee for the MBA programmes offered by Wharton is 78,948 US Dollars. In addition, the school predicts that students would need about 32,952 US Dollars for other living expenses – accommodation, books, insurance, health, transportation, and personal. Although Warton encourages students to investigate all the loan and scholarship opportunities listed in their website, it also offers 7 types of fellowship programmes for MBA students. Please find the details of the financial aid programmes on this page.
The Good
According to the Financial Times Global MBA Ranking 2019, Wharton Business School has been ranked No. 4. Also, according to Forbes’ 2017 Ranking of Best Business Schools in USA, Wharton’s MBA programme is ranked No. 1.
Conclusion
According to the points mentioned in the article, it is evident that both universities have high teaching quality and standards, high attention to diversity, and are also in the list of the best business schools not only in the USA but also internationally and worldwide. Both offer reputable MBA programmes and both will help provide promising social lives and career opportunities for the students. Moreover, both schools have similar entry requirements and almost similar costs for tuition fees plus living expenses. The only noticeable difference between the two business schools is the fact that Wharton offers courses for undergraduate as well as postgraduate students and also, it provides 19 different majors for MBA students to choose from.
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