The cost of studying abroad is a major concern for most students. What is the expense for students pursuing business studies in the United States? Below is a compiled overview of the costs of business programmes in the US for reference.

I. Study Costs for Business Majors

1. Accounting

Many students who choose to study accounting in the US opt for New York. As the economic heart of America, it boasts a developed economy, numerous corporations and professional accounting firms, offering favourable employment prospects.

Nevertheless, students need to take New York’s high cost of living into account. For instance, the total expense for the 9-month Master of Accounting programme at New York University is approximately USD 76,700 (nearly 480,000 RMB), with living expenses for this period reaching around USD 25,000 (close to 160,000 RMB).

Take Hofstra University as an example. Its accounting programme costs USD 46,460 per year, equivalent to less than 290,000 RMB, roughly USD 20,000 cheaper than NYU. The living expenses here are USD 18,403 a year, about 110,000 RMB.

2. Finance

Clark University, located in Massachusetts in the northeastern US, has an annual total cost of about USD 47,359, nearly 300,000 RMB, including USD 10,000 (60,000 RMB) for living expenses.

Also in the northeast, the University of Maryland charges an annual total of USD 83,000 for this major, over 510,000 RMB, with living expenses of USD 18,000, more than 110,000 RMB.

DePaul University is situated in Chicago. It has relatively affordable costs for international students, with an annual total expense of around USD 46,960, less than 300,000 RMB. According to its I-20 form, living expenses do not exceed USD 4,500 within three months (approximately 27,900 RMB), meaning annual living costs are about 100,000 RMB.

3. Marketing

Many top 100 comprehensive universities in the US offer Master of Marketing programmes. Some schools provide standalone Master of Marketing degrees, while others offer Marketing as a concentration under the MBA programme at business schools, and these programmes tend to come with high price tags.

Pepperdine University in California has an annual total cost of USD 66,400 for its Master of Marketing programme, around 410,000 RMB, including USD 16,000 (nearly 100,000 RMB) for living expenses.

The MS in Marketing programme at NYU Stern School of Business costs USD 63,530 per year, equivalent to roughly 400,000 RMB, with annual living expenses of USD 24,000, close to 150,000 RMB.

II. Prestigious US Business Schools

1. Harvard Business School

There is a well-known saying in American education: Harvard University is the crown of American universities, and Harvard Business School is the most brilliant jewel on that crown. A graduate degree in business administration from Harvard has become a symbol of power and wealth, and the dream education for many young Americans. The average annual salary of MBA graduates exceeds USD 100,000. Hence, some Americans comment that one downside of MBAs is their high premium.

2. Stanford Graduate School of Business

Stanford GSB and Harvard Business School are widely regarded as the two leading business schools in the United States. The two have repeatedly tied for first place in rankings published by authoritative US magazines. In terms of student population, Stanford GSB is much smaller than HBS. It has about 720 MBA students in total and admits roughly 50 new students each year. Stanford GSB remains one of the most valuable business schools in the US, mainly because the school is committed to maintaining teaching quality and high standards.

3. Kellogg School of Management, Northwestern University

Kellogg School of Management (KGSM) is recognised as one of America’s top business schools. It has consistently ranked fifth in many recent evaluations. Many CEOs and senior executives of major US corporations are Kellogg alumni.