The Best Online MBA Programs
Undertaking an online Master of Business Administration program is a valuable undertaking for individuals aiming to advance their professional lives and sustain a leading position in the business sphere.
Key Takeaways
- Top Online MBA Programs: Indiana University, UNC Chapel Hill, University of Michigan, Rice University, and Carnegie Mellon offer highly ranked online MBA programs.
- Affordability and Prestige: These programs combine high-quality education with affordability, making them attractive for professionals.
- Accreditation: All programs are AACSB-Accredited, ensuring they meet high educational standards.
With the convenience of online learning individuals can earn their MBA while balancing their work and personal responsibilities. By adopting an online structure, learners can tap into a top notch educational experience and connect with a global array of instructors, specialists, and graduates.
Featured Online MBA Programs
Find a program that meets your affordability, flexibility, and education needs through an accredited, online school.
The online MBA curriculum aims to equip learners with the expertise, understanding, and direct exposure needed to excel across diverse sectors, fostering a strategic thought process for making well-informed business choices. With a broadly applicable curriculum that covers critical business topics with hands-on coursework using real-world scenarios, an online MBA can significantly boost your career and earning potential.
EDsmart has created this list of the best online MBA programs of 2024 to help you find the best value education in continuing your education.
Best Online MBA Programs by Program Cost
Indiana University—Bloomington
"Perennially ranked at the top for online MBA programs," this school offers flexible schedules and numerous networking opportunities. It's praised as "the only top tier program that was affordable and value-adding."
Located in Bloomington, IN, the program is AACSB-Accredited. It stands out for its combination of prestige and affordability, making it an attractive option for professionals seeking a high-quality online MBA experience.
The University of North Carolina at Chapel Hill
The MBA@UNC program is known for its flexibility, strong core curriculum, and talented professors and students. The program is "heavily invested in" providing a comprehensive business education.
Located in Chapel Hill, North Carolina, this AACSB-Accredited program offers a blend of rigorous academics and flexibility, making it ideal for working professionals seeking a top-tier online MBA experience.
University of Michigan—Ann Arbor
The Ross School of Business offers a highly regarded online MBA program, combining the prestige of the University of Michigan with the flexibility of online learning.
Located in Ann Arbor, MI, this AACSB-Accredited program is known for its rigorous curriculum and strong alumni network. It attracts students looking for a top-tier business education in a flexible format.
Rice University
The MBA@Rice program is seen as equally prestigious, if not more so, than the on-campus equivalent. It's often referred to as the "Ivy of the South" in business education.
Located in Houston, TX, this AACSB-Accredited program offers a high-quality online MBA experience, combining the prestige of Rice University with the flexibility of online learning.
Carnegie Mellon University
The Part-Time Online MBA offers a unique blend of online classes and on-site "Access Weekends" every two months at various Carnegie Mellon locations across the US.
Located in Pittsburgh, PA, this AACSB-Accredited program combines the flexibility of online learning with periodic in-person sessions, offering students a comprehensive and immersive MBA experience.
Best Online MBA Programs by Cost Per Credit
University of Wisconsin-Madison
Nestled in Madison, Wisconsin, the University of Wisconsin-Madison stands as a flagship public institution. With an undergraduate enrollment of 35,184 and a 49% admission rate, it balances accessibility with academic rigor, as evidenced by its average SAT score of 1374.
The university's financial landscape is nuanced. In-state students face tuition and fees of $10,796, while out-of-state students pay $39,427. The average cost of attendance is $27,100. Graduates leave with a median total debt of $20,484, but see strong returns with median earnings of $73,792 a decade after graduation.
Accredited by the Higher Learning Commission, UW-Madison exemplifies the public university model: providing quality education at scale while maintaining affordability, particularly for state residents. This approach positions it as a key player in discussions about higher education's role in fostering broad economic mobility.
Oklahoma State University-Main Campus
Located in Stillwater, OK, Oklahoma State University offers accessible higher education with a 71% admission rate. The university serves 20,362 undergraduates, with an average SAT score of 1145.
OSU's in-state tuition and fees are $10,234, while out-of-state students pay $25,754. The average cost of attendance is $24,770.
Accredited by the Higher Learning Commission, OSU graduates have a median total debt of $20,500 after graduation. Ten years post-graduation, the median earnings for alumni stand at $57,413.
University of Kansas
The University of Kansas, situated in Lawrence, KS, offers highly accessible higher education with an 88% admission rate. The university educates 18,539 undergraduates, who have an average SAT score of 1192.
KU's in-state tuition and fees are $11,167, while out-of-state students pay $28,035. The average cost of attendance is $24,888.
Accredited by the Higher Learning Commission, KU graduates leave with a median total debt of $21,000. Ten years after graduation, alumni report median earnings of $61,945.
Kansas State University
Kansas State University, located in Manhattan, KS, offers highly inclusive higher education with a 95% admission rate. The university serves 14,762 undergraduates.
K-State's in-state tuition and fees are $10,448, while out-of-state students pay $26,519. The average cost of attendance is $24,923.
Accredited by the Higher Learning Commission, K-State graduates have a median total debt of $21,250 after graduation. Ten years post-graduation, the median earnings for alumni are $57,262.
Ball State University
Ball State University, situated in Muncie, IN, provides accessible higher education with a 69% admission rate. The university educates 13,466 undergraduates, with an average SAT score of 1191.
Ball State's in-state tuition and fees are $10,440, while out-of-state students pay $27,924. The average cost of attendance is $24,478.
Accredited by the Higher Learning Commission, Ball State graduates leave with a median total debt of $23,250. Ten years after graduation, alumni report median earnings of $51,833.
MBA Guide
What is an MBA?
An MBA (Master of Business Administration) is a graduate-level degree created to educate professionals in finance, accounting, human resources, and other business-related fields. The goal was to produce graduates capable of advancing companies using a scientific approach.
Today, an MBA is valuable for various career paths, not just business management.
MBA Admission Requirements:
- Bachelor's degree from an accredited institution
- Acceptable GMAT scores (for most programs)
- Meeting specific school requirements
It's beneficial to research programs well in advance of application deadlines to understand specific requirements and important dates.
Earning Your MBA Online
Online MBA programs offer flexibility for busy professionals with career and family obligations. Before choosing an online MBA, consider:
- Program accreditation and accrediting agencies
- School-specific requirements
- Course flexibility and availability
Accreditation
Accreditation ensures that an institution meets specific educational standards. It's crucial for:
- Selecting a reputable institution
- Transferring credits between institutions
- Ensuring fairness in graduation exams
- Demonstrating program quality to employers
AACSB Accreditation
The Association to Advance Collegiate Schools of Business (AACSB) is a well-known accrediting body for business schools. Founded in 1919, it accredits schools in 51 countries. Only about 10% of online colleges in the U.S. receive AACSB accreditation. Schools are re-evaluated every five years to ensure ongoing compliance.
Key Accrediting Bodies:
- AACSB (Association to Advance Collegiate Schools of Business)
- ACBSP (Accreditation Council for Business Schools and Programs)
- CHEA (Council for Higher Education Accreditation)
- DEAC (Distance Education Accrediting Commission)
- IACBE (International Accreditation Council for Business Education)
Popular MBA Programs
1. Project Management MBA
Focuses on managing business projects from start to finish. Courses include project planning, quality control, and risk management. Common industries: construction, software development, communications.
Average salary: $84,972 (Glassdoor.com)
2. Healthcare Management MBA
Specializes in healthcare sector management, including financial issues, laws, and ethics related to healthcare. Career paths include hospital administration and healthcare consulting.
Average salary: $66,875 (Glassdoor.com)
3. Human Resources MBA
Concentrates on personnel management, leadership, hiring, and workplace dynamics. Graduates can work as HR managers, handling employee needs, company morale, and workplace legalities.
Average salary: $60,547 (Glassdoor.com)
Dual Online MBA Programs
Dual MBA programs allow students to earn two degrees simultaneously, saving time and money. Popular options include:
- MSN MBA Dual Degree Online: Combines nursing and business administration, ideal for roles in healthcare administration or consulting.
- MBA MHA Dual Degree Online: Combines business administration with healthcare administration, opening opportunities in pharmaceuticals, health insurance, and public policy.
Note: While many schools offer MBAs with healthcare concentrations, true online MBA MHA dual degree programs are less common.
Frequently Asked Questions
How Long Does it Take to Complete an Online MBA?
An online MBA typically takes two years to complete. However, some accelerated programs can be completed in 18, 15, or even 12 months, whereas some part-time programs can take three to six years to complete.
What Are the Requirements for MBA Admissions?
The requirements for MBA admissions are generally a bachelor's degree and GRE or GMAT scores. However, some of the best business schools offering an online MBA do not require a GMAT.
What Are Some MBA Careers?
There are many MBA careers. Individuals with an MBA can pursue careers in a wide range of fields. Some popular MBA careers include:
- Budget Analyst
- Business Advisory Consultant
- Business Systems Analyst
- Chief Executive Officer
- Chief Financial Officer
- Chief Operating Officer
- Chief Technology Officer
- Client Services Consultant
- Credit Risk Analyst
- Equity Research Analyst
- Finance Director
- Financial Analyst
- Financial Manager
- Foreign Exchange Trader
- Human Resources Director
- Information Systems Manager
- International Trade Specialist
- Investment Analyst
- IT Consultant
- Management Analyst
- Marketing Manager
- Mergers & Acquisition Analyst
- Operations Manager
- Personnel Manager
- Portfolio Manager
- Product Development Financial Analyst
- Project Manager
- Research Analyst
- Risk Analyst
MBA Career Fields
- Banking
- Brand or Product Management
- Corporate Financial Management
- Customer Relations
- Data Analysis
- Economic Advising
- Government Agencies
- Health Care Industry
- Human Resources Management
- Insurance
- International Banking
- Law Firm Management
- Market Research
- Money Management
- Non-profit Management
- Operations Management
- Personal Financial Planning
- Production Management
- Purchasing & Procurement
- Quality Control
- Real Estate
- Research & Forecasting
- Sales & Retail
- Teaching
- Technology
- Transportation & Logistics
