Set foot on any university campus today and one thing is clear. Students from all over the world make up a significant portion of the student body. And that’s especially true at graduate schools of business.
According to the Institute of International Education, during the last academic year there were almost 900,000 international undergraduate and graduate students studying at American colleges and universities, an increase of eight percent. In Massachusetts alone, there were more than 50,000 international students, up more than 10 percent from the year before, according to Wendy D’Ambrose, Director of MBA and MS Employer Outreach at Bentley University's Graduate School of Business.
Why do students come? There are a number of reasons, beginning with the global reputation of American business schools and the fact that the American economy, while still not spectacular, is doing far better than any other country’s or region’s. That might seem to translate into opportunity for many international students. But there are obstacles as well.
The website workpermit.com notes there are just 85,000 H1B visas (allowing foreign citizens to work in the U.S. for up to six years) available on an annual basis and, of these, just 20,000 go to graduate students. The demand far outstrips the supply and last year officials, in response, went quickly to a lottery system to award the visas, D’Ambrose points out.
For some business students, the OPT (Optional Practical Training) visa provides a potential option. The OPT is limited to just 12 months but can be extended for an additional 17 months for programs deemed to have relevance to STEM (Science, Technology, Math, and Engineering). It also is limited to 29 months, D’Ambrose points out. The 17 month extension was specifically designed to allow American corporations to recruit highly sought students in STEM disciplines. The OPT visa is still classified as a student F1 visa and for the OPT student to remain in the US, the employer must file an application for an H1B visa.
Still, the rewards can be significant for those who persevere, she adds. Among the reasons: the salaries in America are typically higher than those from students’ home countries; there is prestige associated with securing a job and a coveted US visa; and the experience and perspective gained by international students who study in the US is highly valuable in a global market.
There are no guarantees, of course, and many students who study in the U.S. are unable to secure the necessary visas. Still, for those students, and especially for students who are fortunate enough to actually secure a visa because the benefits are extended and enhanced, there are a variety of advantages beyond the professional education itself. They include:
- The chance to enhance career opportunities at home or elsewhere abroad. Students whose F1 student visas or OPT visas eventually expire, still enjoy distinct career benefits. The increasing strength of the global economy will only enhance these benefits in the future.
- The chance to establish a network. Doing so can enhance professional opportunities and personal growth for many years. Students interact with other students, of course, but also with faculty and influential business leaders who often visit graduate schools to provide guest lectures and even to engage in “immersion” programs through which students work with business leaders to solve real problems and exploit real opportunities within their organizations.
- The chance to polish English language skills. This is especially valuable when doing so in a business-focused environment. There is no doubt that English is the global lingua franca, especially when it comes to business. Graduate school provides students with the opportunity to literally learn the “language of business,” not only through words and terms that are part of a technical lexicon but also through the use of slang and short-hand expressions that are ever-changing, especially in fields that are increasingly technology-driven.
- The chance to understand different cultural norms. There are many differences that characterize the practice of business in the US and elsewhere. Whether it is in understanding the role of small talk pleasantries before getting down to business or appreciating how certain tangible expressions of gratitude are regarded from an ethical standpoint, many important aspects of business are often learned by interacting with students in a multi-cultural environment.
To reap the rewards of studying at graduate school of business in the United States, business students should pay attention to three important considerations, according to U.S. News & World Report. They are academic credentials, English language proficiency, and finances. Even if there are concerns about one or more of these three important areas, there may also be ways to address them.