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Wednesday, 27 October 2021

A Guide to Registering the Best Offshore Company Formation with Bank Account For Your Business

 A Guide to Registering the Best Offshore Company Formation with Bank Account For Your Business


What is an Offshore Company Formation?

An offshore company formation is an entity formed outside the country where its main operations are carried out. The term 'offshore' means that the company acts as a non-resident where it is formed or incorporated. Another prominent feature of an offshore company setup is that usually the company's members and directors live outside the country where the company is incorporated giving the entity a non-residential status. 

An offshore company definition, however, is not definite, as it largely depends upon the purview of the entity's activities and the jurisdiction which the business entity was incorporated. Many countries omit the word 'offshore' entirely from the company ordinances even though the entity might function similarly to a company, such as Malta, Cyprus, Scotland, or England.

Herein is what makes the offshore formation service industry so confusing; as many modern financial centers like Luxembourg, Cyprus, and Malta have international business entities that enjoy many of the same benefits in regards to tax benefits and corporate flexibility as traditional Caribbean tax havens even though they are in Europe.

There are, however, some distinguishing features which separate traditional offshore jurisdictions from modern 'onshore' financial centres, namely: fewer reporting requirements, public registries that are not open to the public, and generally as a whole tax havens offer more tax reduction possibilities.

Despite these differences, many of the same financial activities and offshore corporate services can be found in both types of offshore jurisdictions such as the creation of Captive Insurance funds, Hedge Funds, Bank Accounts, and Mutual Funds to name a few.  

Offshore companies function very similarly like any other company in a modern onshore or domestic financial centre and can carry much the same business activities, have similar management structures, issue shares to shareholders, etc.—the main difference between onshore and offshore is being the tax structure, the level of confidentiality, and asset protection.

Table of Contents:

List of Offshore Companies 

Here is a comprehensive list of offshore companies and their corresponding countries where we find offshore formation possibilities. This list represents jurisdiction and offshore structures that we use and form offshore companies in regularly.

Though this list does not cover every offshore possibility in the world, it does represent some of the best places in the world where it is currently possible to incorporate offshore. If you have another offshore vehicle or country you would like to incorporate, get in touch to see if we can organize it for you.

  • Cayman Islands Company
  • Gibraltar NRC
  • Hong Kong Company
  • Hungary Corporation
  • Ireland Company
  • Isle of Man NMV
  • Isle of Man PLC
  • Mauritius GBC-2
  • Puerto Rico Company
  • Samoa Company
  • Scotland LP
  • Singapore Company
  • Switzerland AG Company
  • UAE Company
  • UK Company

Limited Liability Companies & LLPs

  • Anguilla LLC
  • Cook Islands LLC
  • Cyprus LLC
  • Delaware LLC
  • Malta LLC
  • Nevis LLC
  • Samoa LLC
  • St. Vincent LLC
  • Swiss LLC (GMBH)
  • New Zealand LLP
  • UK LLP


International Business Companies (IBC)

  • Anguilla IBC
  • Bahamas IBC
  • Belize IBC
  • Brunei IBC
  • BVI IBC
  • Cook Islands IBC
  • Cyprus IBC
  • Dominica IBC
  • Malta IBC
  • Marshall Islands IBC
  • Nevis IBC
  • Panama IBC
  • Seychelles IBC
  • St. Lucia IBC
  • St. Vincent IBC
  • RAK IBC
  • Vanuatu IBC



Differences Between Domestic Companies and Non-Resident Companies

However, there really are no clear-cut boundaries as offshore financial services and corporate laws can be found in modern onshore financial centers. The state of Delaware in the United States, for instance, is one of the most historically significant corporate tax havens.

Its simple legal structure and favorable corporate tax laws were shaped in the early 20th century to make it attractive and easy to form and manage a corporation.

As a result as of today, around 60% of the companies on the Fortune 500 list are incorporated in Delaware, making America one of the largest tax havens in the world.

Panama has taken its inspiration from US corporate laws, originally modeled after Delaware’s in 1927, that have evolved to include progressive business regulations from Lichtenstein creating an offshore financial centre that has parts of both worlds. Many nations aim to attract foreign businesses and investors by making corporate and tax laws friendly to non-residents individuals and international corporations. 

Offshore jurisdictions offer tax-exempt status to foreign companies provided they restrict commercial activities outside the jurisdictions’ borders and do not engage in any type of business exchange with local residents. Additionally, many offshore jurisdictions’ corporate laws are written to ensure client confidentiality, the details of which are not usually made available to the public, phishing creditors, or intrusive foreign parties.

This is not to say that your details will never be shared, as it depends on whether the country is party to any TIEAs that are signed with your primary country of residence, which facilitates automatic tax information or are a signatory of the CRS. Both of which make it much more difficult to remain anonymous.

Though places like Panama and Nevis both known for the banking secrecy laws and fierce asset protection clauses, they will not share your details or make you report anything to your own country, however, the issue is the country where you reside which may require you to report your foreign income, assets, or companies.

In this situation, the only way to fully release yourself from the bondage of your home countries reporting and taxation requirements is to move residence and become a primary tax residence of a country that does not tax foreign earned income.



Confidentiality and Asset Protection in Offshore Companies

Confidentiality, in today's offshore industry, does not mean complete anonymity as it used too, it means that your assets, and business structure are not open to the public and are not shared or given out to curious organizations, creditors, lawyers or whoever comes asking.  If you are trying to hide your money from your government. Let me stop you, as you should always follow your country's tax laws.

If your country is a member of the Common Reporting Standard (CRS) or has any Tax Information Exchange Agreements (TIEAs) with the offshore jurisdiction where your company is held then it is likely that your government already has access to your tax information.

Confidentiality in offshore companies is not about hiding from the government, it is about having privacy so that unscrupulous people, unwarranted lawsuits, threats, spouses, legal disputes etc. will not have access to your company nor your assets. 

Despite the changes in the international system forming a properly structured offshore company with a bank account there still are tax advantages, levels of security and asset protection when properly designed are not found in any local domestic company.


Why Form an Offshore Company?

Anyone stands to benefit from incorporating offshore. If we remember that offshore companies aren't necessarily about getting established in some fancy Cayman Islands International Company (although in reality, the Caymans are a lot less fancy and exotic then the name implies).

If you are an American and you form a company in Cyprus, that is considered an offshore company. A foreign company established in a country other than the country of your residence, for all intents and purposes is considered an offshore company.

The confusion that comes for most people is because there is such a tight association with the term offshore companies and illegality. Whether it's money laundering, tax evasion or straight-up drug dealing, the media has done a great job in misinforming people.

Offshore Companies act like any normal company but are held for taxation purposes outside the financial system where it is formed thus giving it certain benefits. Companies formed offshore are often used by anyone who owns a global, internet-based, digital, or services company. It can also act as a holding company for assets or bank accounts, for holding physical property, intellectual property, patents, or investments as well as many other financial and investment-related activities.

The benefits gained will be determined primarily on what one is hoping to achieve. While nearly everyone is hoping to reduce their taxes. It might not necessarily work for everyone to go from paying 40% taxes to 0% overnight. Though anyone can start a company offshore, not everyone receives the same benefits.

Individuals choose offshore companies for any number of reasons. Foreign jurisdictions provide a level of asset protection and security not normally found in traditional 'onshore' jurisdictions. This is because offshore financial centres have supportive corporate laws and liberal regulations that give space for companies to exist without restrictive requirements, high overheads, and onerous disclosure policies.

Such countries have protective legal systems that enable asset-sheltering to non-residents clients who bring their capital into the country. Asset protection gives foreign investors the security needed to securely invest in a foreign country. As a result, many foreign banking and financial systems have created a set of strong legal codes to ensure the industry.

These include ease of incorporation procedures, management flexibility, financial accounting discretion, and nominee services, to name a few. In the next section, we’ll discuss these in more detail.

What Type of Businesses Benefit from an Offshore Company?

It really depends on what your business is, where you reside and what you hope to achieve by going offshore. Some individuals who are to benefit the most from a foreign-based company are those with business and financial activities in:

  • Offshore savings and investments 
  • Forex and stock trading
  • E-commerce 
  • Professional service company 
  • Holding Company 
  • Internet services 
  • International based company
  • Digital-based Company
  • International trading 
  • Ownership of intellectual property

Companies that are established in an overseas country or conduct business outside the borders where one resides are best suited for international companies as well as businesses with a global or non-localized structure such as internet-based service industries as well as services providers and consultants, brokers, and currency traders.

Online businesses and anything not dependent upon physical infrastructure works best as it gives the individual more room to change locations and not be dependent upon the country of residence to define their tax burden.

For instance, even though you are a citizen of a high tax country, if you hold a UK passport, live in Thailand, have an online e-Commerce business where you take online payments processing in a third country, you could incorporate a business and have an offshore bank in Hong Kong where you would be able to minimize your overall tax burden much more than if you lived, worked and had your company all in the UK.

The defining feature for most people if they desire to become completely tax-free will be dependent upon your country of residence. While most people may not be ready to move to a different country to escape taxation, it may not be as difficult as it may seem.

For today's entrepreneur, to best take advantage of your financial freedom, the most reliable strategy is to create a global mindset, by creating an offshore lifestyle maximizing your international leverage by diversifying your residency, company and accounts across multiple jurisdictions.


Advantages of Registering an Offshore Company

An offshore company has a variety of uses and benefits for clients wishing to engage in international financial trade and investment activities. Depending on the specific offshore jurisdiction companies that are formed offshore may have the following features and advantages:

  • Ease of Incorporation 
    • o Registration and incorporation procedures are very straightforward and, in some cases, may take only 24 - 48hrs for the process. This, of course, requires that you prepare and provide all the required documentation before submitting incorporation paperwork to the appropriate authorities.
    • Minimal Fees 
    • o There are very low associated fees, after start-up costs; many jurisdictions have fees between US$200-300 per year.
    • Flexible Management and Minimal Reporting Requirements 
    • o Minimal number of directors and shareholders are required. Financial reporting, account information and annual returns are also often not required or remain minimal.
    • No Foreign Exchange Controls 
    • o Most all jurisdictions have no restrictions on foreign exchange.
    • Favourable Local Corporate Legislation 
    • o Many offshore jurisdictions have supportive legal frameworks to promote and encourage the growth of the offshore industry and foreign investment, which supports and gives companies a high degree of flexibility.
    • High Confidentiality 
    • o The details of owners, accounts and financial information remain confidential, though to a varying degree, depending upon the jurisdiction. Some have minimal publicly available information (Hong Kong and New Zealand), whereas in (Nevis, Panama, Seychelles) absolutely no public information is available. The availability and use of nominee shareholders and directors give you greater anonymity.
    • Tax Benefits 
    • o Most jurisdictions offer zero to low corporate taxes, with an exemption on most other taxes such as income, sales, capital gains, value-added, estate, succession, gift, and stamp taxes.
    • Freedom in Investment Opportunities 
    • o No limitation in regards to the business activities involved. Companies are free to engage in virtually any economic, financial or business activity. In some jurisdictions there are necessary formalities and licensing that must be obtained prior to setting up certain types of business operations (as in the case of bank, insurance, real estate industries).
    • Relocation Possibilities 
    • o Many jurisdictions offer smooth transition possibilities between jurisdictions without any needed restructuring or complicated documentation.

Global Tax Laws

The introduction of the Tax Information Exchange Agreement (TIEA), the Common Reporting Standard (CRS) and the American version of the CRS, the FATCA have drastically changed the offshore incorporation industry.

These new pieces of legislation have effectively made it much more difficult to create an offshore structure that bypasses governmental tax regulators. While complete anonymity is much harder to attain it is largely dependent upon the country where you reside and what passport you hold. If you are an American for instance, you will find it nearly impossible.

It’s not only Americans who are finding more difficulties in opening up a bank account and incorporating offshore; if you live in any country that is a signatory of the CRS than you will likely find that you are effectively tied to your government's tax authorities. In this case, the only alternative is to either give up your passport (if you are an American) or to move to a tax haven.

The CRS has made if very difficult to reduce your tax burden without moving your residency. An offshore tax haven in this instance can be said to be a country that will not tax worldwide income, does not participate in any Tax Information Exchange Agreements Exchange and is not a signatory of the CRS.

The list of tax havens that fit this criteria are not only those few Caribbean islands but include many Eastern European and Asian countries as well. While not everyone may be ready to move or give up their passport, there are a few more alternatives in place that can be used - If - complete confidentiality and tax freedom is your goal.

Though you may be free from taxation in the country where you establish an offshore company. However, that does not free you from your tax obligations altogether. There are other tax laws that make you obligated to report your financial accounts and companies to tax authorities.

Controlled Foreign Corporation (CFC) Laws?

Controlled Foreign Corporation (CFC) are set up tax codes that determine the tax liability of the individual in reference to any corporate entities that might be held outside the country.

These laws are used in order to keep assets onshore and prevent the moving of assets to low-tax countries. While this is what is meant in theory, in practice it has done little to stem the flow of capital from low tax countries.

In an increasingly modern world, it has become increasingly difficult to prevent capital from moving to where it has a natural advantage. A liberalized global economy virtually ensures that this will happen due to the nature of trade, banking and global communication that has eroded many barriers to entry.

With lower barriers to entry, it has become possible for nearly any individual to become involved in global finances and international trade. While this was once the exclusive domain of the wealthy, anyone with a mobile phone and a few hundred dollars can now be a global financial citizen. 

What does this all mean?

If you live in a country that is a signatory of the CRS your tax information is automatically shared. If you live in a country that has CFC laws, then your are obligated to pay taxes on all foreign holdings.

Each country has its own different requirements, there is no one solution for every individual. Depending upon your circumstances, business, and your specific requirements will determine the possibilities open to you, where you are able to incorporate and what advantages you are able to benefit from. 


Different Types of Offshore Structures

There are many different types of offshore companies, each having slight differences usually dependent upon the jurisdiction and the corporate laws where the company is incorporated rather than the name itself.

Offshore entities that roughly refer to the same type of structure:

    • o Offshore Company, Foreign Corporation, Non-Resident Company, International Business Company, International Company, Private Limited Company

They all are synonyms and can be used interchangeably.

However, there are two main offshore structures which we will go into in detail, namely an:

    • International Business Company (IBC) and;
    • Limited Liability Company (LLC)

What is an Offshore IBC?

International Business Company (IBC)

An International Business Company (IBC) refers to a type of offshore structure, which engages in international business activities in trade or investment and remains exempt from local corporate taxation, provided that its revenues does not come from local sources. 

    • Jurisdictions provide varying degrees of tax benefits, though most usually offer exemption on capital gain tax, corporate tax, income tax and stamp duty.
    • An IBC also benefits from confidentiality of ownership (usually), asset protection, a wide versatility of share issuance, flexible management arrangements, and minimal financial reporting requirements.
    • There are many such structures available, some of the more popular being Panama, BVI, Belize, Dominica and St. Vincent.
    • While they are traditionally known to be originating in tax havens, IBC can be found in modern low tax environments such as Malta, Cyprus, Gibraltar, Scotland

What is an Offshore LLC? 

Offshore Limited Liability Companies (LLCs)

A Limited Liability Company (LLC) is a company that provides limited liability to its owners and partners. It is a hybrid business entity with a flexible arrangement, allowing power and responsibilities to be named and distributed through its charter.

    • An LLC provides a tax-neutral vehicle that bypasses corporate taxation due to its existence as a partnership. Therefore, the burden of tax falls upon the individual members of the company rather than the entity itself.
    • A Member of an LLC has the same responsibilities as a shareholder in a normal company, which may include individuals, companies or trusts and allows for flexible levels of ownership and remuneration.
    • The flexibility of an LLC is ideal for structuring international-orientated joint venture arrangements, as the company can enjoy all of the benefits of incorporation, without any tax liability.

There are many benefits of an Offshore LLC which are given due to its pass-through tax structure, making it particularly attractive for investment purposes or for shared business ventures.


Best Offshore Formation Structures

While there are many different offshore jurisdictions to choose from, each with its own distinction.  We regard these three as the best offshore formation companies, based on overall corporate legislation, financial and banking environment, ease of registration process, corporate structure, flexibility and price.

However, each company is not suited for every circumstance, as it depends upon the individual's circumstances, their business needs, their tax residency, citizenship status, etc...

1. Panama Company - Best Overall Offshore Company


2. Nevis LLC - Best Company For Asset Protection

 

3. Scotland LP - Best European Company


How to Register an Offshore Company?

Setting up an offshore business in a simple 3 step

  1. 1. Confirm your identity
  2. 2. Submit a due diligence form
  3. 3. Receive payment for your company product package

There are, however, some important questions you should ask yourself when setting up your offshore company.

Once these 3-steps have been completed, we will contact you to establish whether or not there are any additional requirements, documents or signatories needed to successfully file your application with the appropriate jurisdictional Registry.

Offshore Company Requirements

Forming an offshore corporation is not as complicated as it is often made out to be. In fact, the offshore corporate services industry is often not only easier to establish a company but often is quicker, less hassle with rates even comparable to that of many modern financial centers. To form a company the entity must draw up and submit:

    • Memorandum of Association
    • Articles of Association
    • Know Your Customer (KYC) documents
    • Corporate Application Document
    • Name, Date of Birth, Social Security or National Insurance Number
    • Notarized Bank Statement
    • Banking Reference Letter
    • Professional Reference Letter
    • Copy of Passport for Identity verification
    • Copy of Utility Bill to confirm your physical address

**The Memorandum of Association represents the companies external affairs and complements the Articles of Association which represents the internal dynamics and structure of the company including the by-laws, purpose of the company, organization of its members including the Director, Shareholder, and Secretarial duties, as well any financial obligations, share capital, meetings, and any day-to-day tasks.

  1. 1. These documents are sent off to the appropriate jurisdictions' Corporate Registers Office.
  2. 2. Once these documents are approved, there might be additional documents needed to satisfy the Registry then a Certificate of Incorporation is issued signifying the formation of the new company.
  3. 3. Any additional requirements of a newly formed company post-incorporation are dependent upon your needs and wishes, which may include the appointment of the company’s first director, the first meeting and appointment of company officers, registration of directors (in which nominee services may be used), issuance of company shares, and the opening of any international bank account.

Offshore Company Formation with Offshore Bank Account (Corporate or Business Account)

Opening a corporate account for your offshore company is quickly becoming standard practice these days as many foreign jurisdictions are making it more difficult to open a personal account without a local company.

A business or corporate account actually gives you more advantages than a normal personal account and if properly paired with a multi-jurisdictional corporate structure, can be used efficiently to take payment processing from places such as Stripe and Paypal from pretty much anywhere in the world without running into difficulties.

Being able to receive funds from clients and customers is perhaps the most important and the most difficult piece of the offshore puzzle. Making sure that corresponding banks will accept transfers, that your banks will continue to allow large transfers using these mediums while following all of the rules making sure you have fulfilled all of your obligations is why we are here, to help you make sure you have a solid plan in place



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Tuesday, 19 October 2021

10 BEST EXECUTIVE MBA ONLINE PROGRAMS 2021

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 Executive MBA programs benefit learners aiming to advance their existing careers in business or management. In contrast to a standard MBA,  (EMBA) moves beyond the fundamentals and emphasizes the more detailed aspects of leadership in business. EMBA programs, though similar to traditional MBAs, look closely at executive management and strategies.

An EMBA best serves students looking to further their careers by acquiring new skills and credentials. EMBAs can also lead to increased earning potential: according to PayScale, professionals with earn more on average than those with traditional MBAs

Online executive MBA programs offer working professionals an accessible pathway to career advancement and higher salary potential. This guide offers detailed information on the best executive MBA programs, what students can expect from these programs, and career paths and options available to graduates.

2021'S TOP 10 EXECUTIVE MBA PROGRAMS

RankSchoolLocation
1Purdue UniversityWest Lafayette, IN
2University of North Carolina WilmingtonWilmington, NC
3California State University-San BernardinoSan Bernardino, CA
4Washington State UniversityPullman, WA
5University of Hawaii at ManoaHonolulu, HI
6University of Nevada-RenoReno, NV
7Texas Southern UniversityHouston, TX
8Jacksonville UniversityJacksonville, FL
9Carlow UniversityPittsburgh, PA
10Bethel UniversityMcKenzie, TN


WHAT ARE EXECUTIVE MBAS?

The University of Chicago offered the very first executive MBA program in 1943. The program sought to bolster the business field in the aftermath of World War II. Aimed primarily at midcareer professionals, EMBAs intended to push upper-level management workers to become more effective leaders.

EMBA graduates often pursue "C-Suite" careers — roles which usually include "chief" in the title, like chief operating officer or chief executive officer. These positions entail leading entire departments within a company or the whole company itself.

However, EMBA-holders can also pursue other jobs. The EMBA degree prepares graduates to switch careers, providing them with extra credentials and experience to make their resumes stand out. EMBA graduates may, for example, pursue careers in the nonprofit sector or start their own business. Typical EMBA students are around 38 years old and hold an average of 14 years of work experience. They work in all types of fields and industries, and generally hold a substantial amount of experience in management. Interest in the EMBA has also grown in recent years, with a 31.9% increase in applications between 2015 and 2019. This growth signifies an increased demand for highly qualified professionals in leadership and management positions. Companies and organizations across all industries and sectors require the skills and qualifications of EMBA-holders, making this degree a great option for any business student interested in advancing their career.

WHY GET AN EXECUTIVE MBA?

Earning an EMBA offers a wealth of benefits. Students earn the credentials necessary to pursue advanced roles in business, including chief officer positions. The executive specialization option for MBAs emphasizes top-level management skills and prepares students for leadership roles. An increased salary potential and a focus on nuanced business skills continues to draw a growing number of business professionals to the EMBA. Consider the following benefits: Increased Earning Potential: On average, EMBA graduates earn higher salaries than those with a traditional MBA. By the end of their EMBA program, students tend to earn a 13.5% pay increase on average. Career Advancement: According to the 2019 EMBAC Student Exit Survey, 40% of EMBA students earned a promotion by graduation. The EMBA provides midcareer professionals with advanced credentials and skills to take on leadership roles. Career Switching: Earning an EMBA also provides graduates with the qualifications they need to enhance their resume in a competitive job market. Midcareer professionals who want to change careers or start their own businesses would benefit from the skills emphasized in executive MBA programs.

THE TOP 10 ONLINE EXECUTIVE MBA RANKINGS, 2021

Our ranking of the best executive MBA programs features accredited institutions offering flexible online degrees. This page lists the 10 best executive MBA programs for 2021. To learn more about how we rank our programs, follow the link below.

Our Ranking Methodology

WHAT THE BEST ONLINE EMBAS HAVE IN COMMON

Each program's experience is unique, but many top schools share the following characteristics.

  • They are accredited. All of the schools on our lists are accredited. This means an outside regional or national accrediting agency approved each school's educational programs based on specific standards of quality and rigor. Programmatic accrediting bodies examine specific departments to ensure their degrees prepare students for careers in the field. Common accrediting agencies includes:

    • Southern Association of Colleges and Schools Commission on Colleges (SACSCOC)
    • Higher Learning Commission (HLC)
    • Middle States Commission on Higher Education (MSCHE)
    • WASC Senior College and University Commission (WSCUC)
    • Northwest Commission on Colleges and Universities (NWCCU)
    • Association to Advance Collegiate Schools of Business (AACSB)
    • Accreditation Council for Business Schools and Programs (ACBSP)
    • International Accreditation Council for Business Education (IACBE)
  • They are affordable. Our rankings feature schools with competitive, affordable tuition rates. The schools in this ranking offer a variety of pricing and payment options, including flat-rate and per-semester costs, in-state and out-of-state tuition, and bundling of materials and tuition costs. The University of North Carolina Wilmington offers some of the most competitive rates on our list at just $415 per credit hour.
  • They are reputable. We feature schools with positive reputations in the industry. The schools in our rankings tend to hold high graduation and retention rates, and often boast strong job placement and advancement rates for graduates. They also employ professors at the top of their field, like Purdue University, where 98% of the business school faculty hold an advanced degree and 48% hold a doctorate.
  • They offer strong academic programs. Many executive MBA programs in this ranking hold programmatic accreditation from a top accrediting agency for business programs. They offer well-rounded, thoughtful curricula that arm students with the skills and knowledge they need to take on executive roles in leadership and management.

Executive MBA (eMBA) programs meet the educational needs of mid-career professionals and executives seeking to enhance their skills.

Executive MBA programs usually attract current business professionals seeking career advancement. These programs examine key areas of business, such as accounting, organizational behavior, and project management, while preparing students for leadership roles across industries.

Graduates can work as top executives The Bureau of Labor Statistics (BLS) projects jobs for these professionals to grow 6% between 2018-2028 and reports a median income of over $104,000. However, actual income varies by industry. For instance, chief executives in scientific, technical, and manufacturing fields can earn a median salary of over $200,000. 

This guide to executive MBA program rankings helps students find the right programs for their needs. It also covers important information for prospective students, such as common courses and potential careers and salaries for graduates.


15 Best Tech MBA programs for high-paying salaries and careers in technology, IT

In today’s rapidly evolving business environment, technology and technological innovation has become the key for the successful operation and expansion of businesses.

Unlike other industries, the technology sector has witnessed a continuous growth over the past decade. Digital disruption continues to penetrate across industries.

Companies need to constantly adapt or reinvent their business processes and models to remain competitive.

The need of the hour is to have technology leaders with an in-depth industry knowledge, an understanding of business fundamentals and a complete picture of how an organisation works.

According to Statista, the growth rate forecast for the information technology (IT) industry during a 5-year period from 2018 to 2023 is the highest at 104% in the emerging tech segment which includes fields like IoT software, big data/analytics, AR/VR.

During the same period, in other segments like software, the expected growth rate is 50% and in tech services and hardware, it is 23% each.

An MBA program with a tech focus will hone your managerial, strategic decision-making and team leadership skills in addition to providing insights about the industry and building a lifetime network of well-connected peers and alumni coming from various industries and cultural backgrounds.

The MBA careers team can help students identify the right career opportunity and connect with various top employers.

Here’s the list based on rankings provided by QS TopMBA and U.S.News for the best MBA program in technology/information systems.

Most of these programs have been seeing 25-30% of their graduating class being hired for technology roles.
 

Best Technology MBA programs in the world

 

Business School% of 2020 class taking up technology roles
MIT27.6
Haas32.4
Stanford28
Tepper31.4
Harvard19
Ross24.5
McCombs31.8
Kellogg28
UCLA Anderson31.8
Said23.8
NYU Stern16.9
Wharton16.2

(Fintech- 2.1%)

Scheller32
W. P. Carey26

 

MIT Sloan

With its focus on innovation, tackling challenges and make an impact, MIT Sloan serves as a top choice for those looking for a perfect combination of technology and business.

MIT has constantly been ranked number one by QS TopMBA based on various parameters including employer reputation, career placements and research strength.

The MBA class of 2020 saw 27.6% of the class take up roles in technology, Amazon and Google being some of the top hirers. The previous class of 2019 saw 30.7% of the class going into technology while for the class of 2018, it was 29.4%.

After completing the core courses in the first semester, students can choose what to pursue during the next three semesters based on their interest area and career requirements.

The entrepreneurship & innovation track is for those with an interest in knowing more on how to launch an innovative technology company.

The enterprise management track prepares students to become business leaders by developing their skills in cross-functional areas including marketing, operations, and strategy.

Students are able to participate in real company projects; the entire experience prepares them for senior positions in large organisations.
 

Berkeley Haas

The Haas School of Business is strategically located in the heart of the vibrant Silicon Valley.

The Bay area houses 2000+ tech companies, and can provide immense opportunities for tech aspirants or start-ups. Leading tech organisations like Apple, Google, Amazon, Microsoft, Autodesk, Samsung are some of those actively hiring Haas MBA grads.

The Haas MBA prepares students to take up crucial roles in modern day companies that rely heavily on technology.

The course curriculum provides a solid foundation, the wide range of electives, the various clubs and conferences allow you to further explore areas of interest and identify relevant career opportunities.

Students pick up relevant skills and expand their network through experiential learning classes with companies like HP, Autodesk, Panasonic, PayPay, Cisco among others.

Students interested in tech career receive expert mentoring from industry specialists, relationship managers and a team of peer advisors on various post-MBA tech roles like product management, product marketing, and business operations.
 

Stanford GSB

Located in the Silicon Valley, Stanford is one of the top elite M7 schools with emphasis on innovation which is reflected in its motto “Change lives. Change organizations. Change the world.”

Stanford’s long-standing reputation and its perfect location in a tech hub attract students with technology backgrounds.

28% of the class of 2020 took up jobs in the technology industry. 18% of the 2020 class went the entrepreneurial way. 33% of the new ventures were in the technology industry.

The MBA curriculum can be tailor-made during the second year so that in addition to the electives, students have the flexibility to take up a joint or dual degree or courses of interest at other Stanford schools.

The career management center at Stanford provides immense support to students mentoring them at every stage of job search so that the career they choose is aligned with their vision and goals.

Students have ample opportunities to build a strong network through various employer networking events, student-organised club events including the vast Stanford GSB alumni community of 30,000 having 60 alumni chapters around the world.
 

CMU – Tepper

The Tepper MBA has always been a favourite destination for those looking for leadership positions in the tech industry.

The full-time MBA class of 2020 had 51.3% of the class coming in with a technical undergrad major.

The curriculum with its focus on advanced analytical and leadership skills prepares students for strategic decision-making roles.

As a part of the MBA curriculum, this bschool offers MBA Tracks and Capstone courses that help you go deeper in the area or industry of your interest.

For example, the technology strategy and product management MBA Track provides an excellent understanding of how technology and business can be integrated and the how the related issues arising in the process need to be handled.

The knowledge and experience thus obtained prepares you to take up leadership positions involving development and execution of technology strategies or launch your own company.

Another interesting MBA track – the management of innovation and product development takes students through a unique innovative journey involving identifying the needs or issues faced by the target audience and based on the findings coming up with specifications of software, product or a service and finally working towards conceptualization and business plan.

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