Cost of MS in Business Analytics in USA

Pursuing a Master of Science (MS) in Business Analytics in the USA offers a gateway to an exciting and lucrative career in data analysis and decision-making. As businesses increasingly rely on data-driven strategies, the demand for skilled professionals in this field has skyrocketed.

However, understanding the MS in Business Analytics in USA cost is crucial for prospective students. In this blog, we will break down the various expenses involved in obtaining an MS in Business Analytics in the USA, providing you with a comprehensive guide to help you make an informed decision.

What’s Inside?

Tuition Fees for MS in Business Analytics in the USA

Living and Other Expenses for MS in Business Analytics in the USA

Additional Expenses for MS in Business Analytics in the USA

Scholarships for Students

Conclusion

Tuition Fees for MS in Business Analytics in the USA

While the average tuition fees range around $67,000, the overall MS in Business Analytics in USA cost varies based on certain factors, like the reputation of the institution, its ownership, location, the program’s duration, and more. 

Here’s a quick breakdown of average MS in Business Analytics fees across top universities in the USA:

Living and Other Expenses for MSBA in USA

Pursuing an MS in Business Analytics in the USA involves more than just tuition fees. Living and other expenses play a crucial role in budgeting for your study abroad journey. 

Typically, living expenses in the USA can range from $10,000 to $20,000 per year, depending on the city and lifestyle. This includes accommodation, food, transportation, and personal expenses. Let’s break down these costs per university location:

Massachusetts Institute of Technology (MIT) – Cambridge, Massachusetts

In Cambridge, Massachusetts, home to the prestigious Massachusetts Institute of Technology (MIT), students can expect to pay between $2,200 and $3,500 per month as rent for a one-bedroom apartment. 

Utilities typically range from $150 to $200 per month, while grocery expenses may go from $400 to somewhere around $600. Even a monthly public transportation pass costs $90. 

All these numbers call for strategic budget planning before admission to the university.

University of California (Haas) – Berkeley, California

University of California (Haas) in Berkeley mirrors MIT’s costs. Rent spans $2,000-$3,500, utilities $120-$180, and groceries $350-$500. A monthly transit pass is slightly cheaper at $81.

New York University (Stern) – New York City, New York

New York City tops the list for expenses. One-bedroom apartments range from $2,500-$4,000, with utilities averaging $150-$200. Grocery bills match Cambridge at $400-$600, while transportation costs $127 monthly – even higher than MIT’s locale.

Columbia University – New York City, New York

Similarly located in New York City, Columbia University presents comparable living expenses to NYU Stern. Rent, utilities, groceries, and transportation costs align closely with the city’s high living standards, emphasizing the need for meticulous financial planning.

Carnegie Mellon University (Tepper) – Pittsburgh, Pennsylvania

Moving to Pittsburgh, Pennsylvania, home to Carnegie Mellon University’s Tepper School of Business offers a more affordable living option. 

Rent drops to $1,000-$1,800, utilities to $120-$170, and groceries to $300-$450. Public transport costs about $100 monthly.

University of Texas at Austin (McCombs) – Austin, Texas

The University of Texas at Austin (McCombs) provides a balance of affordability and vibrant city life. Rent ranges from $1,200-$2,000, utilities $100-$150, and groceries $300-$450. Notably, public transport is just $41 monthly.

Duke University – Durham, North Carolina

Durham, North Carolina has lower living costs compared to major metropolitan areas. Rent for a one-bedroom apartment ranges from $1,000 to $1,500 per month, utilities cost approximately $100 to $150, and grocery expenses typically go from $300 to $450 per month. 

The monthly public transportation pass is about $70, making it an attractive choice for students seeking affordability without sacrificing academic excellence.

University of Chicago (Booth) – Chicago, Illinois

In the heart of Chicago, Illinois, the University of Chicago’s Booth School of Business provides a stimulating urban environment with varying living costs. 

Rent spans $1,500-$2,200, utilities $120-$170, and groceries $300-$450 per month. The monthly public transportation pass is about $105.

Additional Expenses for MS in Business Analytics in the USA

Other than tuition and living, MS in Business Analytics in USA cost may shoot up due to some additional expenses, like:

Application + Other Exams Fees

Although the application fees differ with universities, the average range for an MS in Business Analytics in USA cost around $100 to $200. This fee is usually non-refundable. 

Fees for other exams are as follows:

Visa for International Students

International students seeking to study in the USA must apply for an F-1 visa. The visa application fee is $160, which is non-refundable. You may also need to pay for biometric services costing around $85. 

Scholarships for Students

Whether merit-based or need-based, students can apply for relevant scholarships through the university or external programs to reduce their overall cost associated with an MS in Business Analytics in the USA. 

Here are some options you may consider:

• Carlson School of Management: 

Recognizing the financial burden of graduate studies, Carlson offers merit-based scholarships ranging from $5,000 to $20,000 per year. 

To be considered, students must demonstrate academic excellence with a minimum GPA of 3.5 and financial need. 

Approximately 30% of admitted students are awarded scholarships, making Carlson a compelling option for students seeking financial support.

• Wake Forest School of Business: 

Wake Forest provides endowed scholarships typically valued between $2,000 and $10,000 per year. Additionally, exceptional students may be eligible for highly competitive scholarships covering full tuition costs. 

Roughly a quarter (25%) of admitted students receive some form of scholarship assistance, highlighting the school’s commitment to attracting top talent.

• Olin Business School at Washington University: 

Olin offers a wider range of scholarship opportunities, with awards typically ranging from $5,000 to $30,000 annually. 

To be considered for academic scholarships, applicants should have a strong academic record (including a high GPA and competitive GRE/GMAT scores) and relevant work experience. 

While the percentage awarded is slightly lower at 20%, the potential value of these scholarships makes applying worthwhile.

Conclusion

Earning an MSBA in USA can be highly worthwhile. While the costs mentioned in the article may be a deal breaker for some, don’t forget the potential return on investment the program offers. Also, refer to this article only as a starting point. We highly recommend further research into specific universities and scholarship programs.