For students planning to study abroad, sufficient funds must be prepared in advance to cover living costs. So how much money do students need to study business in the United States? Below is a compiled overview of the expenses for a Master’s in Business in the US for your reference.

Costs of Master’s in Business in the US

Tuition for master’s business programmes at public universities is lower than that at private universities. Typically, private university tuition ranges from USD 20,000 to 40,000 per year, while public university tuition is between USD 13,000 and 20,000 annually.

Besides tuition, living expenses are another key consideration for students pursuing a business master’s degree. The US is a vast country like China, and living costs vary sharply by region. Generally speaking, the East and West Coasts are the most expensive; the Great Lakes region and Florida also come with high living costs. Texas is moderately priced, and states in the Midwest are cheaper.

A master’s programme in the US usually takes two years to complete, with annual total costs of roughly 250,000 to 300,000 RMB. Naturally, the total expense varies by location, university and personal spending habits. There are plenty of job opportunities in the US, so covering living expenses should not be a major concern.

The average annual tuition across 99 US graduate business schools is USD 34,530. Eighteen business schools charge over USD 45,000 per year; 32 have tuition between USD 35,000 and 45,000; 33 range from USD 25,000 to 35,000; and 16 have tuition below USD 25,000 per annum.

Living Expenses for US Business Master’s Students

A master’s degree in the US normally lasts two years, costing around 250,000–300,000 RMB each year. Again, the figure fluctuates depending on location, school and individual consumption habits. Apart from tuition, living expenses are a vital factor to weigh, as regional differences strongly affect living costs.

• Highest cost: San Francisco, New York, Philadelphia, Los Angeles, Boston, Chicago, Miami, etc.
  
• High cost: Pittsburgh, Seattle, Atlanta, Detroit, Austin, Dallas, etc.
  
• Moderate cost: Texas, Michigan, Colorado, Virginia, Utah, etc.
  
• Lower cost: Missouri, South Carolina, Oklahoma, etc.
  

The Five Most Expensive Business Master’s Programmes in the US

(1) Stanford University: USD 51,321 per year

(2) St. Louis University: USD 49,765 per year

(3) Columbia University: USD 49,728 per year

(4) Carnegie Mellon University: USD 49,200 per year

(5) Northwestern University: USD 49,074 per year