Being a Business Analyst appears to be an appealing option in today's world, as insights from the World Economic Forum's Global Risks Report 2024 predict a significant increase in positions that need strong analytical abilities. The demand for Business Analysts is expected to increase by around 40% by 2027, resulting in hundreds of thousands of new opportunities. So as an international student, this is the best time to pursue your Master's in Business Analytics in the USA as the job opportunities upon graduation are plenty.
A Masters in Business Analytics programme provides students with the skills needed to apply current data science and machine learning techniques to real-world business challenges. The MS in Business Analytics programme covers courses in data mining, statistical modelling, forecasting, and data visualisation. To know more about the scope of pursuing this course, the top MS in Business Analytics USA Universities and more, keep reading!
Table of Contents
- Why Study a Master's in Business Analytics in the USA?
- Top Universities for Masters In Business Analytics in the USA
- Cost of Studying Masters in Business Analytics USA
- Eligibility Criteria to Study Masters in Business Analytics in the USA
- Cost of Studying Masters in Business Analytics USA
- Career After Master's in Business Analytics in the USA
Why Study a Master's in Business Analytics in the USA?
The global market for business intelligence and analytics software applications is expected to grow over the next several years, from 15.3 billion USD in 2021 to more than 18 billion by 2026. This shows the high scope of employment that a graduating business analyst has in the US. Let's take a look at some other reasons why you should consider an MS in Business Analytics USA:
- Top-Ranked Universities: The USA has a number of notable universities, like UCLA and MIT, which are globally renowned for their advanced Business Analytics programmes.
- Growing Job Market: The Business Analytics industry in the USA is rapidly developing, providing ample job opportunities for graduates.
- World-Class Education: American business schools are internationally recognised. They provide students with the necessary abilities to face real-world business difficulties.
- Expert Faculty: Getting to learn from leading industry professionals and experienced teachers provides a wealth of information and practical insights.
- Networking opportunities: Studying in the United States provides numerous networking opportunities with industry-leading individuals and firms.
Top Universities for Masters In Business Analytics in the USA
When deciding where to pursue a Master's in Business Analytics, you need to take into consideration various factors like the university's reputation, course offerings, and financial investments. Below is a table of some of the top universities for Masters in Business Analytics USA. These institutions provide rigorous programmes that aim to educate students for a successful career in business analytics through an extensive curriculum and access to industry experts
|
University |
QS Ranking 2024 |
Course Highlights |
Approximate Tuition Fees (in USD) |
|
Massachusetts Institute of Technology (MIT) |
1 |
Emphasis on data science, predictive analytics, and statistical modeling. Capstone project included. |
$77,168 per year |
|
Harvard University |
4 |
Strong focus on leveraging data in decision-making across sectors. Includes practical projects. |
$73,440 per year |
|
Stanford University |
5 |
Focus on machine learning and business intelligence. Internship opportunities are available. |
$74,570 per year |
|
University of California, Berkeley |
10 |
Includes courses in data warehousing, business decision-making, and project management. |
$65,000 per year |
|
University of Chicago |
11 |
Offers a blend of analytics and business courses, with a strong focus on applied experience. |
$72,000 per year |
|
University of Pennsylvania |
12 |
Interdisciplinary approach with a strong quantitative component and real-world applications. |
$70,000 per year |
|
Columbia University |
23 |
Combines business knowledge with analytics proficiency; emphasis on emerging technologies in business. |
$76,000 per year |
|
University of Michigan-Ann Arbor |
33 |
Focus on applied analytics, statistical modeling, and data management technologies. Includes a practicum project. |
$66,048 per year for non-residents |
|
New York University |
38 |
Specialisation in data science techniques and business strategy integration. Extensive industry ties. |
$60,000 per year |
|
Northwestern University |
47 |
Specialises in analytics technology and leadership skills, with part-time options. |
$68,000 per year |
Cost of Studying Masters in Business Analytics USA
Pursuing a Master's in Business Analytics in the United States requires you to consider both the tuition fees and living expenditures. The cost varies greatly based on the institution and its location. Here's a breakdown of the typical tuition prices as well as general cost of living considerations:
|
University Type |
Average Tuition Fees |
Cost of Living Considerations |
|
Public Universities |
USD 25,000 – 40,000 per year |
Living expenses can range from USD 10,000 to 15,000 per year, depending on location (rural or urban) and lifestyle. |
|
Private Universities |
USD 40,000 – 70,000 per year |
Similar to public universities, but living in larger cities where private universities are often located can increase costs. |
Expect to budget between USD 55,000 and 85,000 per year for tuition and living expenses combined. You should also consider other fees such as health insurance, transportation, books, and supplies, which can add an extra USD 2,000 to $5,000 per year.
Eligibility Criteria to Study Masters in Business Analytics in the USA
If you want to pursue a Master's in Business Analytics in the US, it's essential to have a good understanding of the eligibility qualifications you need to fulfil. Here's an overview of everything you'll need:
Academic Requirements:- You must hold a bachelor's degree from a recognised university. Degrees in business, mathematics, statistics, or computer science are recommended, although other subjects may be considered with suitable coursework.
- Academic transcripts are necessary during the application process.
- GRE/GMAT: Most colleges demand GRE or GMAT scores. The required score varies significantly depending on the school. Check each university's particular criteria; certain programmes may eliminate this prerequisite based on your undergraduate GPA or job experience.
- Non-native English speakers can demonstrate their English competence through examinations such as TOEFL, IELTS, or PTE.
- A minimum TOEFL score of 100 or an IELTS score of 7.5, with at least 7.0 in each IELTS component, is typical. Some institutions may accept lower results, so check with the relevant school.
- Relevant job experience in business or analytics might boost your application, however, it is not required for all programmes.
- Some programmes particularly demand professional experience, seeing it necessary for understanding the actual applications of business analytics.
- A Statement of Purpose (SOP) is required for your application. This should be a well-written essay that discusses your academic interests, work history, and why you want to pursue this degree.
- The SOP is your opportunity to make a persuasive case for admission by outlining your professional goals and how the programme fits with them.
Additional Requirements:
- Some programmes may require letters of recommendation from academic advisers or prior employers who may attest to your analytical skills and academic potential.
- Some institutions may need in-person or video-call interviews as part of the application process.
Career After Master's in Business Analytics in the USA
A Master's degree in Business Analytics in the US can lead to a variety of professional prospects as graduates possess the ability to analyse data, generate insights, and make data-driven decisions, which is highly recognised across sectors. The pay for an MS in Business Analytics in the United States graduate is extremely high when compared to other courses. According to estimations, 75% of major organisations and enterprises like BCG, McKinsey, and IBM prefer to hire fresh graduates in the Business Analytics subject. The table below gives an overview of the various roles and average salary you can expect upon graduation:
|
Job Role |
Expected Salary Range |
|
Management Analyst |
USD 75,000 – 85,000 |
|
Operations Research Analyst |
USD 78,000 – 90,000 |
|
Mathematician |
USD 70,000 – 95,000 |
|
Business Consultant |
USD 75,000 – 85,000 |
|
Quantitative Analyst |
USD 85,000 – 100,000 |
|
Business Management Analyst |
USD 80,000 – 90,000 |
|
Data Scientist |
USD 90,000 – 110,000 |
A Master's in Business Analytics in the USA not only provides students with technical skills in data science and machine learning but also prepares them for a wide range of high-paying positions, from management analysts to data scientists. With top-tier universities like MIT and Stanford offering comprehensive programmes that combine rigorous academics with real-world applications, and the expected salary after graduation reflecting the high demand for these skills, now is an excellent time for international students to pursue a Master's degree in Business Analytics in the United States!
For additional guidance or support with your application process, AECC is ready to assist. Our team of expert consultants offers personalized advice to help you achieve your educational and career aspirations in the field of business analytics.
