An online MBA in entrepreneurship can be what aspiring entrepreneurs need to take their innovation, creativity, and vision to the next level. These programs prepare graduates for exciting roles in various industries, such as startup founders, business consultants, and corporate innovation managers, with median salaries ranging from $76,570 to $102,450.These programs typically take two to three years to complete, and many online institutions offer flexible part-time options that make education accessible for learners who need to balance their education with professional and personal responsibilities.
While costs vary across institutions, the average tuition for an online MBA is approximately $12,000 for public universities and $27,000 for private schools — making it possible to earn your degree without incurring substantial debt.
How to Choose an Online MBA in Entrepreneurship Program
Choose your area of study
As a budding entrepreneur or future startup founder, you can specialize in various fields to sharpen your skills — including innovation management, social entrepreneurship, technology entrepreneurship, and venture capital.
Before committing to a specific study area, consider your career goals, interests, and strengths. For example, students interested in developing new products or services may benefit from specializing in innovation management, while those passionate about creating a cultural impact can opt for social entrepreneurship. Technology entrepreneurship suits students interested in the intersection of business and technology, while venture capital specialization is ideal for those aspiring to work in investment and funding for startups.
Research schools and programs
Once you have chosen your study area, you’ll want to gather information about online schools with a curriculum to support your interests. Start by exploring the websites of potential schools to research curriculums, course offerings, and the faculty who teach there. Keep an eye out for schools offering coursework aligned with your desired specialization and faculty specializing in that field.
Additionally, it can be helpful to connect with alums or professionals in your chosen field to gather firsthand perspectives. Consider attending virtual information sessions, webinars, or networking events hosted by the schools to interact with faculty and current students to gain additional insight.
Prepare for tests and applications
Now that you have identified the programs aligned with your interests and career goals, you can prepare for applications and standardized tests by following a few critical steps.
First, thoroughly review the application requirements and ensure you have all the necessary documents — including transcripts, letters of recommendation, and a well-crafted statement of purpose tailored to each program.
You should create a study plan and leverage practice materials and resources for standardized tests like the GMAT or GRE. Many students benefit from enrolling in a test preparation course, as these courses teach specific test-taking strategies and help familiarize students with each test’s format.
Select your program
After receiving your acceptance letters, you can select the program that aligns best with your intended specialty and career goals by considering several aspects.
Revisit each program’s curriculum and course offerings to ensure it offers relevant courses in your desired specialty. Assess the faculty’s expertise and note the instructors you’re most excited to learn from. Additionally, look at alum networks, internship opportunities, and career services to help gauge the program’s ability to support your career aspirations.
Determine how you’ll pay for your degree
First, you will want to research scholarship and grant opportunities your institution offers explicitly targeted at entrepreneurship and business students. Private organizations and government agencies also provide scholarships and grants, so explore those funding opportunities.
Next, complete the Free Application for Federal Student Aid (FAFSA), which will determine your eligibility for federal financial aid programs, including loans and work-study opportunities.
If you’re currently employed, explore your employer’s tuition reimbursement programs. These programs incentivize employees to seek higher education and may cover a portion of their tuition if they plan to remain in the same field.
Best 50 Accredited Online MBA in Entrepreneurship Programs
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How We Rank Schools
For this list, we sought the best online Master of Business Administration (MBA) programs with a concentration in entrepreneurship. An MBA focuses on advanced management and business skills, emphasizing a particular industry or skill set.
One of our main criteria was that programs be delivered fully or primarily online. Some programs can be completed through a combination of online and on-campus classes.
We looked for programs offered at regionally accredited institutions to ensure they meet high-quality standards. Many programs also have programmatic accreditation through bodies like the Association to Advance Collegiate Schools of Business (AACSB), the Accreditation Council for Business Schools and Programs (ACBSP), or the International Accreditation Council for Business Education (IACBE).
We evaluated each program based on reputation, faculty, flexibility, cost, and outcomes. Then we calculated an Intelligent Score for each program on a scale of 0 to 100. For a more extensive explanation, check out our ranking methodology.
What Can You Expect from an Online MBA in Entrepreneurship Program?
During an online MBA in entrepreneurship, you can expect to learn strategic planning, financial management, marketing, innovation, leadership, and venture capital — all necessary skills for a successful career in this field. While curriculums can vary, many well-rounded programs equip students with the knowledge to identify and evaluate business opportunities, develop effective business plans, and navigate the challenges of starting and growing a new venture.
Due to the demand for fully online learning, most MBA programs in Entrepreneurship offer a virtual education designed to be completed independently and at your own pace. However, specific programs may offer optional on-campus events or networking opportunities that allow you to engage with faculty and fellow students.
Most students take two to three years of part-time study to complete degree requirements. Students who can devote more time to their studies can graduate in as little as 18 months.
Potential courses you’ll take in an online MBA in entrepreneurship program
- Entrepreneurial Finance: Most reputable programs include a finance course in their entrepreneurial concentration, although the title can vary depending on the institution. These classes focus on the financial aspects of entrepreneurship, teaching students to evaluate and secure funding for new ventures. They will learn about financial analysis, valuation techniques, and various funding sources like angel investors, venture capitalists, and crowdfunding platforms.
- Strategic Entrepreneurship: Also called “Strategic Management,” this class focuses on the strategic aspects of entrepreneurship, helping students understand how entrepreneurial thinking can drive innovation and competitive advantage with established organizations. They will explore corporate entrepreneurship, strategic decision-making, industry disruption, and managing growth in entrepreneurial contexts.
- Quality Management: Often included in curriculums as a core requirement, this class teaches students about the principles and practices for ensuring and improving the quality of products or services in a business context. Students study Six Sigma and Total Quality Management methodologies and learn to apply them to identify, analyze, and address quality-related issues.
- Marketing for Entrepreneurs: In this course, students will learn how to create effective marketing strategies tailored to the needs of startups and small businesses. They will study market research, customer segmentation, branding, digital marketing, and other essential marketing concepts to help them effectively promote and differentiate their ventures in competitive markets.
What Can You Do With an Online MBA in Entrepreneurship?
Career outlook
Pursuing an MBA focusing on entrepreneurship equips individuals with the knowledge and skills to start, grow, or manage businesses, lead innovation, and create value in various industries. According to the U.S. Bureau of Labor Statistics (BLS), the median annual wage for those in management occupations was $102,450, which is the highest of all major occupational groups. As an entrepreneur, you may invest much of your salary into your business, especially in the early years. Still, you stand to earn a significant salary as your business grows.
Career paths
It may seem that the primary career path for someone with an MBA in entrepreneurship would be to start a business in an area of interest. Whether you hope to find a thriving accountancy firm, for example, or wish to purchase and grow an existing retail operation, your MBA will give you the skills to take a leadership role in creating or shaping a business as you wish.
Entrepreneurs exist in almost every area of business and industry, from healthcare to manufacturing, with some working in nonprofit or educational venues. Beyond serving as the founder of your own business, there are other career paths open to you with an online MBA in entrepreneurship. Consider the following examples:
- Business consultant — advises other entrepreneurs and companies on growth strategies, business planning, and more.
- Product manager — oversees the development and launch of products or services.
- Innovation manager — foster a culture of creativity and implement processes to encourage new ideas in a company
- Business development manager — identifies opportunities for business growth
- Corporate intrapreneur — operates within large corporations to develop and implement projects and ideas
Venture Capitalist
Earning Potential: $100,944-$283,905
Education Required: bachelor’s degree in business or finance; MBA in entrepreneurship or finance
A venture capitalist researches and targets investment opportunities for themselves or their company. Depending on the available financing, they may manage assets ranging up to ten million dollars. Venture capitalists must be detail-oriented to enable them to find the best possibilities for growth and have the latitude to turn down options that do not seem advantageous. They need a solid understanding of the needs of start-ups and the likelihood of their success and be able to make decisions that consider a wide range of factors, from finance to marketing. They usually report to a company’s senior management unless they act independently.
Startup Incubator/Accelerator Manager
Earning Potential: $94,599-$154,166
Education Required: bachelor’s degree in business or finance; MBA in entrepreneurship or finance
The manager of a startup incubator or accelerator plays a vital role in helping new startups to thrive. Incubators and accelerators are entities that aid and nurture the growth of ideas and help entrepreneurs turn their ideas into successful businesses. An incubator/accelerator manager will have excellent people skills, a broad-ranging network of business investors, mentors, and other key players, and a solid foundation in business and entrepreneurial studies. This role requires knowledge of all aspects of running a business, including finance and budgeting, marketing, product/service development, and sales. A manager needs to be able to foster collaboration in various ways, from hosting networking events to organizing workshops and seminars.
Franchise Business Owner
Earning Potential: $43,000-$128,000+
Education Required: bachelor’s degree in business or finance; MBA in entrepreneurship or finance
A franchise business owner, also called a franchisee, is an entrepreneur licensed to operate a branded outlet of a larger company, usually a retail operation. Franchise owners have a direct stake in their company’s success. Although they may receive support and branding from the parent company, they oversee the day-to-day running of the business themselves, hiring and firing workers, managing inventory, and creating and maintaining a budget. For budding entrepreneurs, owning a franchise can be an excellent way to operate their own business while leveraging the systems of a known and proven brand.
Online MBA in Entrepreneurship Degree Frequently Asked Questions
How do I apply to an online MBA in entrepreneurship degree program?
To apply for an online MBA in entrepreneurship degree program, you will need to visit the website of the institution offering the program. There, you will find an online application form where you can submit your personal and educational information.
Admissions requirements may vary, but they generally include a bachelor’s degree, transcripts, letters of recommendation, a resume demonstrating relevant work experience, and a statement of purpose highlighting your interest in entrepreneurship and career goals.
Before applying, it’s crucial to talk to an admissions counselor. They can give you a clear understanding of the program’s requirements, prerequisites, and any specific documentation that can strengthen your application.
How much does an online MBA in entrepreneurship degree cost?
As of 2020-2021, the average cost for online MBA programs was $19,749. While online programs offer some cost advantages compared to in-person programs — such as potential savings on commuting or housing expenses — online students may incur additional expenses unique to virtual programs. These expenses include textbooks, software, technology requirements, and potential travel expenses for optional in-person events or networking opportunities.
How long does it take to earn an online MBA in entrepreneurship degree?
On average, completing an online MBA in entrepreneurship takes around two to three years of part-time study. Full-time enrollment may allow students to finish the degree sooner, usually within one to two years.
It’s also important to consider the program’s required credits, as these can vary depending on the institution and significantly impact completion time. In addition, online programs often offer more flexibility in course scheduling and allow students to balance their studies with other commitments, potentially resulting in a shorter or longer program duration than on-campus programs.
Is an online MBA in entrepreneurship worth it?
Earning an MBA in entrepreneurship can be worth it if you are interested in starting your own business — or working with those doing so. Your MBA will give you a solid grounding in the essential elements of business, from finance to sales, which all play a role in business ownership. Your program should also help you build a network of like-minded individuals who can assist, mentor, and support your efforts.
Earning your MBA will provide you with the skills necessary for business ownership and allow you to take on leadership positions in your business or with other entrepreneurs. With an MBA, you stand to earn a desirable salary. Top executives, for example, make a median salary of $98,980 annually, with the possibility of much higher compensation as the business grows and expands.
If you are an adult learner with other personal or professional commitments, earning your degree online offers the flexibility that may allow you to continue to work or care for family members while earning your degree. Online education may also lead to cost savings for some students.