Written By - Daniel D'Souza

Edited By Darryl S.

Review & Contribution By Dr. Jay Connell

For many contemporary leadership roles, employers prefer candidates holding an MBA, attainable through on-campus or online study. An MBA signifies business mastery, imparting crucial leadership, communication, and management skills. Not only does obtaining an MBA open doors to higher-level positions, but it also swiftly enhances earning potential. In 2022, the U.S. Bureau of Labor Statistics reported a median annual salary of $95,290[1] for Management Analysts. However, individual earnings and career prospects hinge on the institution and specialization chosen. This guide explores the best online MBA programs, providing details on potential courses, MBA prerequisites, and diverse MBA types.

Online MBA Programs

Table Of Contents

Featured Online Programs

Southern New Hampshire University

PROGRAM: Online MBA

Southern New Hampshire University is a private, nonprofit, accredited institution with more than 3,000 on-campus students and over 60,000 online students, making us one of the fastest-growing universities in the country. Founded in 1932, we’ve been relentlessly reinventing higher education ever since and have gained national recognition for our dedication to helping students transform their lives and the lives of those around them.

We’re proud to provide affordable, accessible education that students can pursue on our 300-acre campus in Manchester, NH, over our innovative online platform or at our regional centers in Manchester, Nashua, Portsmouth and Salem, NH, and Brunswick, ME.

SNHU has earned the GetEducated.com Best Buy and Best of Business – Best Online Degree awards and is consistently ranked as a top Military Friendly® School by G.I Jobs®.

The Best Online MBA Programs

When assessing an institution’s standing, students must weigh factors such as infrastructure, faculty expertise, student support services, program options, affordability, accreditation, and graduation rates. Factoring in these critical elements and more, OMC teams meticulously compiled a list of the top online MBA programs. This comprehensive evaluation ensures prospective students can rely on a well-rounded assessment when choosing the most suitable academic path for their educational and professional aspirations.

Here are the best MBA programs for 2024:

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College Name & AddressTuitionGraduation Rate
#1
Touro University Worldwide
10601 Calle Lee #179, Los Alamitos, California 90720
$9,000100%
#2
University of North Carolina, Chapel Hill
103 South Bldg Cb 9100, Chapel Hill, North Carolina 27599
$10,55291%
#3
University of Virginia
1827 University Avenue, Charlottesville, Virginia 22903
$16,57895%
#4
University of Florida
Tigert Hall, Gainesville, Florida 32611
$10,77088%
#5
University of Illinois, Urbana-Champaign
601 E John Street, Champaign, Illinois 61820
$14,99785%
#6
University of Scranton
800 Linden Street, Scranton, Pennsylvania 18510
$54,72088%
#7
Villanova university
800 Lancaster Avenue, Villanova, Pennsylvania 19085
$20,50690%
#8
University of Minnesota-Twin Cities
100 Church Street SE, Minneapolis, Minnesota 55455
$17,58083%
#9
Creighton university
2500 California Plaza, Omaha, Nebraska 68178
$16,12881%
#10
Saint Joseph’s University
5600 City Avenue, Philadelphia, Pennsylvania 19131
$17,33481%
#11
Lehigh University
27 Memorial Drive West, Bethlehem, Pennsylvania 18015
$27,00090%
#12
University of Southern california
University Park, Los Angeles, California 90089
$46,27292%
#13
Johns Hopkins University
3400 N Charles St, Baltimore, Maryland 21218
$55,35093%
#14
Carnegie Mellon University
5000 Forbes Avenue, Pittsburgh, Pennsylvania 15213
$45,03790%
#15
Boston University
One Silber Way, Boston, Massachusetts 02215
$54,72088%
#16
Stevens Institute of Technology
Castle Point On Hudson, Hoboken, New Jersey 07030
$36,68085%
#17
George Washington University
1918 F Street, NW, Washington, District of Columbia 20052
$31,77082%
#18
Syracuse University
900 South Crouse Ave., Syracuse, New York 13244
$38,88083%
#19
University of Iowa
101 Jessup Hall, Iowa City, Iowa 52242
$10,07972%
#20
Union University
1050 Union University Dr, Jackson, Tennessee 38305
$9,00068%
#21
Saint Joseph’s College of Maine
278 Whites Bridge Rd, Standish, Maine 04084
$9,47067%
#22
Maryville University
650 Maryville University Drive, Saint Louis, Missouri 63141
$14,34671%
#23
University of Sioux Falls
1101 W 22nd St, Sioux Falls, South Dakota 57105
$7,02064%
#24
Saint Mary’s University of Minnesota
700 Terrace Heights, Winona, Minnesota 55987
$9,18064%
#25
Concordia University-Wisconsin
12800 N Lake Shore Dr, Mequon, Wisconsin 53097
$11,05264%
#26
Regis University
3333 Regis Blvd, Denver, Colorado 80221
$14,44164%
#27
Kettering University
1700 University Avenue, Flint, Michigan 48504
$13,33263%
#28
Northwest Nazarene University
623 S. University Blvd., Nampa, Idaho 83686
$10,46461%
#29
University of St Francis
500 N Wilcox St, Joliet, Illinois 60435
$13,46462%
#30
Gwynedd Mercy University
1325 Sumneytown Pike, Gwynedd Valley, Pennsylvania 19437
$13,74960%
#31
Fitchburg State University
160 Pearl St, Fitchburg, Massachusetts 01420
$3,18658%
#32
William Woods University
One University Avenue, Fulton, Missouri 65251
$6,48058%
#33
Freed-Hardeman University
158 E Main St, Henderson, Tennessee 38340
$10,98058%
#34
Arizona State University
411 N Central Ave, Phoenix, Arizona 85004
$11,72058%
#35
Trine Online
1 University Ave, Angola, Indiana 46703
$39,45063%
#36
Mississippi College
200 South Capitol Street, Clinton, Mississippi 39058
$11,25057%
#37
Gardner-Webb University
Main St, Boiling Springs, North Carolina 28017
$9,00056%
#38
Trevecca Nazarene University
333 Murfreesboro Rd, Nashville, Tennessee 37210
$9,91756%
#39
Arkansas State University
2105 E. Aggie Road, Jonesboro, Arkansas 72401
$4,98653%
#40
Concordia University, Saint Paul
1282 Concordia Ave, Saint Paul, Minnesota 55104
$8,55051%
#41
Columbia International University
7435 Monticello Rd, Columbia, South Carolina 29203
$9,36051%
#42
Concordia University, Chicago
7400 Augusta, River Forest, Illinois 60305
$8,91047%
#43
Saint Leo University
33701 State Road 52, Saint Leo, Florida 33574
$7,29649%
#44
University of the Cumberlands
6191 College Station Drive, Williamsburg, Kentucky 40769
$5,67044%
#45
Rivier University
420 South Main St, Nashua, New Hampshire 03060
$11,34046%
#46
University of Houston,Victoria
3007 N. Ben Wilson, Victoria, Texas 77901
$6,33819%
#47
Wilmington University
320 Dupont Hwy, New Castle, Delaware 19720
$8,78421%
#48
Western New Mexico University
1000 W. College Ave, Silver City, New Mexico 88061
$3,35634%
#49
Adams State University
208 Edgemont Blvd, Alamosa, Colorado 81101
$4,59030%
#50
Nova Southeastern University
3301 College Ave, Fort Lauderdale, Florida 33314
$19,66558%

Source – Integrated Post Secondary Education Data System & University Data
*Tuition rates are for in-state and per year. Program specific rates may apply.
**NA – data not available

What Online MBA Programs Entail

Online MBA programs typically feature a comprehensive curriculum covering core business disciplines, ranging from 36-60 credit hours. Students partake in virtual classrooms, collaborative projects, and discussion forums, exploring subjects like finance, marketing, and management for leadership readiness. The flexible online format suits working professionals, allowing career advancement while balancing commitments. Universities often offer online, off-campus, or hybrid options, with a choice of thesis or non-thesis tracks. Programs usually culminate with internships, field training, or capstone projects, enhancing practical skills.

Curriculum and Coursework

Leading and Managing

This course focuses on developing leadership skills and effective management strategies. It covers topics such as organizational behavior, team dynamics, and strategic decision-making. Students gain insights into motivating teams, fostering innovation, and navigating the complexities of leadership in various business contexts.

Financial Decision Making

This course explores the principles of financial management. It equips students with the skills to analyze financial data, assess investment opportunities, and make strategic financial decisions. Topics include budgeting, risk assessment, and capital allocation, preparing students for key roles in corporate finance.

Marketing Management

This course explores the core principles of strategic marketing. Students delve into market research, brand management, and promotional strategies. This course equips individuals with the skills to develop effective marketing plans, analyze consumer behavior, and navigate the evolving landscape of modern marketing practices.

Business Analytics

This course focuses on leveraging data for informed decision-making. Students learn statistical methods, data visualization, and predictive modeling to extract insights. This course equips individuals with the analytical skills needed to drive strategic decisions, optimize processes, and gain a competitive edge in today’s data-driven business environment.

Business Communication

This course emphasizes effective communication strategies for professional settings. Students learn to convey ideas persuasively, create compelling presentations, and navigate interpersonal communication. This course enhances written and verbal communication skills for successful leadership and collaboration in diverse business environments.

Learning Outcomes and Skills Gained

Degree Types

MBA programs offer various degree types, including Full-Time, Part-Time, Executive, and Online formats. Full-time programs are immersive and ideal for recent graduates. Part-time options cater to working professionals, allowing flexibility. Executive MBAs target mid to senior-level executives, emphasizing leadership. Online MBAs offer remote learning. These diverse structures accommodate different lifestyles, career stages, and learning preferences, enhancing accessibility and relevance.

Online MBA vs Traditional MBA

Online MBA

  • Completed at a distance
  • May use asynchronous classes, allowing students to study at their own pace
  • Often comes at a lower tuition cost
  • Can live anywhere with internet access
  • More flexibility
  • Save time not commuting to and from courses
  • Must be self-motivated to learn

Traditional MBA

  • Benefit from face-to-face education
  • A rigid structure that’s ideal for students requiring a set schedule
  • Less flexibility than an online MBA
  • Must live near or on a college campus
  • Learn while surrounded by peers
  • Network in person with faculty, staff, and other students

Specializations for MBA programs

An MBA teaches the broad skills required to succeed in leadership roles and management-level positions. However, most online MBA programs also allow students to select a specialization. These concentrations deepen knowledge, fostering expertise in specific domains. As students tailor their education to align with career aspirations, they gain a competitive advantage in the job market. Specializations enhance overall skills, preparing individuals for diverse roles and empowering them to contribute effectively to the complexities of the modern business landscape.

Graduation Timeline

The graduation timeline for online MBA programs varies but typically ranges from 18 months to three years, depending on factors such as program structure, credit requirements, and student pace. Accelerated options may offer as quicker as one year for completion, while part-time formats allow for increased flexibility but extend the overall duration.

Accelerated Online MBA Programs

Accelerated MBA programs condense traditional coursework into a shorter timeframe, allowing students to earn their degrees faster. These programs are designed for individuals seeking an expedited path to career advancement. Prospective students should research program structures, admission criteria, and potential challenges. While part-time MBA options offer flexibility, they typically extend the study duration, making accelerated programs attractive for those aiming for a quicker professional impact. Here are a few examples of colleges that offer accelerated MBA programs:

Manhattan College1

Boise State University2

Admission Requirements for Online MBA Programs

  • Bachelor’s Degree: A completed undergraduate degree from an accredited institution.
  • Work Experience: Some programs may require professional work experience.
  • GMAT Score: Many programs require standardized test scores.
  • Letters of Recommendation: Typically from professional or academic references.
  • Résumé: Highlighting relevant work experience.
  • Statement of Purpose: Outlining career goals and reasons for pursuing an MBA.
  • Transcripts: Official transcripts from all prior institutions attended.
  • Application Fee: Non-refundable fee for processing the application.

Online MBA No GMAT Programs

The Graduate Management Admission Test (GMAT) is a standardized test used in the admissions process for graduate business programs, particularly MBA programs. It assesses analytical writing, integrated reasoning, and quantitative and verbal skills. The GMAT measures a candidate’s readiness for academic success in business school and is widely accepted by business schools worldwide. Many MBA programs offer waivers for the GMAT (Graduate Management Admission Test) under certain conditions. Some common criteria for waiver consideration include significant professional work experience, advanced degrees (such as a master’s or higher), or other relevant qualifications. Here are examples of some institutions that provide online MBA with no GMAT:

Xavier University3

South New Hampshire University4

Accredited Programs

  1. AACSB International (Association to Advance Collegiate Schools of Business)5
  2. ACBSP (Accreditation Council for Business Schools and Programs)6
  3. IACBE (International Accreditation Council for Business Education)7

For more details, please refer to the accreditation guide.

Free Online MBA Courses

Free online courses offer students accessible learning opportunities without financial barriers. While many provide certificates, they are not accredited degrees. Students benefit from gaining new skills and knowledge; some courses are low-cost or free, making quality education available to diverse learners worldwide. Here are a few free courses that online MBA students can explore.

How to Pay for Online MBA Programs

Grants

Grants are financial aids provided by institutions, governments, or organizations to support individuals pursuing education or specific projects. Unlike loans, grants don’t require repayment, making them valuable resources for alleviating financial barriers and fostering equal access to opportunities.

Graduate Assistantships

Graduate Assistantships offer students financial support and valuable experience in academia. In exchange for duties like teaching or research, students receive stipends, tuition waivers, or both. These assistantships enhance professional development and help alleviate the financial burden of graduate education.

Work-Study Programs

Work-study programs offer students part-time employment opportunities, often on campus, to help finance their education. Students gain valuable work experience related to their field of study while earning income to offset educational expenses, fostering a balance between work and academic pursuits.

Student Loans

Student loans are financial instruments designed to assist students in funding their education. Typically offered at favorable interest rates, these loans require repayment after graduation. They are a vital resource for individuals seeking to cover tuition, fees, and other educational expenses.

Scholarships for Online MBA Students

Career Paths and Average Salaries for MBA Graduates

Certifications and Licensing for MBA Graduates

Certified Management Consultant15

Project Management Professional (PMP)16

Additional Resources for Online MBA Students

Graduate Management Admission Council (GMAC)17

MBA Veterans Network18

Association of MBAs (AMBA)19

National Black MBA Association (NBMBAA)20

FAQs About Online MBA Programs

 FAQs about Online MBA

What is an MBA online?

An online Master of Business Administration (MBA) is a graduate-level academic program that covers various business disciplines, including finance, marketing, management, etc. Offering flexibility for working professionals, online MBAs enable students to access coursework remotely, fostering skill development and advancing career opportunities.

How long does it take to get an MBA online?

Will an online MBA help my career?

Can I interact with professors in an online MBA program?

Are online MBA programs easier to get into?

How to get your MBA online?

Is an online MBA taken seriously?

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