A master’s in entrepreneurship equips students with a comprehensive understanding of business innovation, venture creation, and strategic management. The program covers topics such as business planning, finance, marketing, and leadership. Graduates are prepared for dynamic entrepreneurial roles, including as top executives, who make a median salary of $100,090 per year, or as management analysts, who make $95,290.
The program typically takes one to two years for full-time completion. Costs vary greatly depending on the institution chosen, but students can expect to pay an average of $12,394 at a public institution and $26,621 at a private college or university. With a focus on creativity, problem-solving, and risk management, this master’s degree cultivates the skills needed to thrive in the ever-evolving landscape of entrepreneurship.
How to Choose a Master’s Degree in Entrepreneurship Program
Choose your area of study
Choosing an area of study for a master’s in entrepreneurship involves aligning personal interests and career goals within the business landscape. Your concentration options may include startup management, social entrepreneurship, or innovation strategy. Reflect on your passion, whether it’s creating innovative products, fostering sustainable ventures, or optimizing business processes. Research each specialization’s curriculum, faculty expertise, and industry relevance. Evaluate the demand for entrepreneurial skills in specific sectors. By selecting an area of study that resonates with your professional aspirations, you may be able to tailor your master’s in entrepreneurship experience, positioning yourself for success in a niche aligned with your skills and interests.
Research schools and programs
Researching master’s in entrepreneurship programs involves a comprehensive approach. Evaluate program accreditation, faculty expertise, and industry connections. Utilize reputable ranking sources to gauge program excellence. Investigate class sizes, internship opportunities, and available resources. If you can connect with current students or alumni, you may learn more about their experiences in the program. Scrutinize admission requirements, including standardized test expectations. Explore unique features like workshops, mentorship programs, or incubators. Investigate the success stories of ventures launched by alumni. Thorough research ensures that prospective students make informed decisions, selecting a program that aligns with their entrepreneurial aspirations and provides a robust foundation for success.
Prepare for tests and applications
Prepare for a master’s in entrepreneurship program by excelling in any standardized tests that are required by your chosen institution, such as the GRE or GMAT. Craft a compelling personal statement outlining your entrepreneurial goals, experiences, and unique perspectives. Secure strong letters of recommendation highlighting your academic and professional capabilities. Familiarize yourself with specific admission requirements for each program, ensuring the timely submission of necessary documents. Tailor your application materials to showcase your alignment with the program’s entrepreneurial focus. If required, practice for interviews and engage with admissions counselors for insights.
Select your program
Selecting a master’s in entrepreneurship program involves aligning your aspirations with program offerings. Evaluate concentrations, faculty expertise, and industry connections. Consider program formats — online or on-campus— based on your learning preferences. Investigate internship opportunities, practical experiences, and unique features like startup incubators or mentorship programs. Assess factors like class sizes, alumni networks, and the program’s overall reputation. Ensure the curriculum resonates with your entrepreneurial goals, whether it’s launching startups, innovating within existing organizations, or fostering social entrepreneurship. By selecting a program that offers a tailored and comprehensive entrepreneurial education, you position yourself for success in this field.
Determine how you’ll pay for your degree
Determine how to fund your master’s in entrepreneurship by creating a comprehensive financial plan. Your first step should be to fill out the Free Application for Federal Student Aid (FAFSA). Explore scholarships, grants, and assistantships offered by the institution. Assess tuition costs and factor in additional expenses like textbooks or startup venture costs. Engage with financial aid offices for guidance on merit-based aid opportunities and potential loans. Consider part-time work or internships in entrepreneurial roles to supplement income. Thoroughly examine your funding options and create a detailed budget, ensuring a well-rounded financial strategy to support your entrepreneurial journey without compromising financial stability during your master’s degree program.
Best 50 Accredited Master’s in Entrepreneurship Programs
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How we rank schools
This list focuses on graduate programs in entrepreneurship that feature either online or on-campus learning opportunities. The best programs have a broad scope of classes in marketing, accounting, management, and other vital skills needed when starting your own business.
All our chosen programs are accredited by DOE-recognized organizations such as the Middle States Commission on Higher Education (MSCHE) and the Association to Advance Collegiate Schools of Business (AACSB). These accreditations ensure that each program has faculty members who are professionals in the field and coursework that has been carefully developed to reflect the needs of the business world.
We evaluated each program on the basis of flexibility, faculty, course strength, cost, and reputation. Then, we calculated the Intelligent Score for each program on a scale from 0 to 100. Our top picks for the best master’s in entrepreneurship degree programs are affordable, respected, and flexible. For a more extensive explanation, check out our ranking methodology.
What Can You Expect From a Master’s Degree in Entrepreneurship Program
A master’s in entrepreneurship program offers a dynamic educational experience, encompassing the skills and knowledge necessary for venturing into the business world. Students learn to develop business plans, analyze markets, and create innovative strategies for startup success. Additionally, aspiring entrepreneurs gain insights into financial management, risk assessment, and the practical aspects of launching and managing a business.
The program typically takes one to two years for full-time completion, allowing for a deep dive into entrepreneurial principles. Some programs may include real-world projects, internships, or networking opportunities with industry experts. Prospective students should also consider any residency requirements, unique features, or collaborative opportunities, ensuring a comprehensive understanding of entrepreneurship’s multifaceted landscape.
Potential courses you’ll take in a master’s degree in entrepreneurship program
- Entrepreneurial Strategy and Innovation: This course explores the strategic aspects of entrepreneurship, emphasizing innovation, competitive positioning, and sustainable growth. Students analyze case studies, formulate business strategies, and learn to navigate the evolving landscape of entrepreneurial ventures.
- Venture Capital and Financing Entrepreneurial Ventures: Covering the intricacies of funding startups, this course delves into venture capital, angel investing, and crowdfunding. Students learn to evaluate financial structures, pitch to investors, and make strategic financial decisions critical for entrepreneurial success.
- Marketing for Entrepreneurs: Focused on marketing strategies tailored to startups, this course delves into market research, branding, and digital marketing. Students develop skills in creating effective marketing plans to launch and promote their entrepreneurial ventures.
- Legal Aspects of Entrepreneurship: Addressing the legal considerations of startups, this course covers intellectual property, contracts, and regulatory compliance. Students gain insights into navigating legal challenges, protecting intellectual assets, and ensuring legal compliance in entrepreneurial endeavors.
- Strategic Leadership and Decision Making: Emphasizing leadership in the entrepreneurial context, this course explores decision-making processes, team dynamics, and ethical leadership. Students develop the skills needed to lead and inspire teams, fostering effective and ethical entrepreneurship.
Master’s in Entrepreneurship Degree Frequently Asked Questions
How do I apply to a master's in entrepreneurship degree program?
Begin by researching admission requirements for each institution. Prepare for and excel in required standardized tests, such as the GRE or GMAT. Craft a compelling personal statement outlining your entrepreneurial goals, experiences, and unique perspectives. Secure strong letters of recommendation highlighting your academic and professional capabilities. Familiarize yourself with specific application deadlines and submit all necessary documents, including transcripts and a detailed resume showcasing relevant experiences. Tailor your application materials to each institution, emphasizing your alignment with their program. If necessary, practice for interviews and engage with admissions counselors for insights, showcasing your passion and readiness for entrepreneurial studies.
How much does a master's in entrepreneurship degree cost?
According to the National Center for Education Statistics (NCES), the cost of a master’s in entrepreneurship varies. Public institutions typically range from $9,000 to $14,000 per year, while private nonprofit institutions tend to cost between $14,000 to $43,000. These figures encompass tuition and required fees. However, additional expenses like textbooks, materials, and potential startup ventures are not included. Prospective students should consult specific institutions for precise cost details, as these figures serve as general averages and may vary based on factors such as residency status and program specifics.
How long does it take to earn a master's in entrepreneurship degree?
Generally, a master’s degree program in entrepreneurship takes one to two years of full-time study. The program’s flexibility may allow part-time options, extending completion timelines. Most graduate programs include 30 to 45 credit hours, which may also impact the time it will take to complete the program. Some programs may include internships or collaborative projects, influencing the overall length. The intensity of coursework and individual pacing also impact completion times. Prospective students should consider these factors when evaluating the time commitment required for a master’s in entrepreneurship, balancing a comprehensive education with practical experience.