Those who complete an online master’s in entrepreneurship will further their existing knowledge of sales, marketing, and financial analysis. Most online graduate programs for this degree require between 30 and 36 credit hours. With an accelerated program, students can complete such a program in as little as one year.
In terms of cost, the National Center for Education Statistics reported that degrees such as this cost an average of $19,792. That makes them more affordable than undergraduate degrees, which cost an average of $26,000. After graduating, students will be qualified to serve as management analysts, where they can expect an average salary of $93,000.
How to Choose an Online Master’s in Entrepreneurship Program
Choose your area of study
Because the online master’s in entrepreneurship is such a specialized degree, most programs do not offer separate concentrations for students. This graduate degree is like a very specialized MBA program with classes intended to prepare students for entrepreneurial careers such as being a business consultant or becoming a venture capitalist. Regardless of the program selected, students can choose electives and tailor their education more to their future career needs.
Research schools and programs
To discover the online master’s in entrepreneurship programs that are best for their current needs, students should consider factors such as cost. It’s also essential to verify that all prospective online graduate programs are fully accredited. Students interested in learning as much as possible should ascertain that the online program is as intensive and rigorous as the in-person one.
Another way to ensure that the education will be rigorous is to research the professors teaching the classes. Those with an extensive background in business and entrepreneurship will have much to convey and can help students expand their professional network and ultimately land more job opportunities.
Prepare for tests and applications
Most online master’s in entrepreneurship programs no longer require applicants to submit GMAT scores. However, when researching schools, it’s important to discover which schools (if any) do require such scores. It can take up to three months to study for the GMAT and up to 20 days to receive results, so applicants may need to consider that when reviewing application deadlines.
In addition to checking to see if GMAT scores are required, students should verify whether they must submit letters of recommendation or application essays along with the mandatory undergraduate transcripts.
Select your program
To finalize the selection of online master’s in entrepreneurship program(s) to apply to, students should also narrow things down using other criteria.
For example, select affordable programs, as this prevents students from accruing excess debt. Students may also favor applying to schools that offer grants, scholarships, or assistantships for graduate students. Finally, students worried about not making friends or expanding their professional network due to being online should seek out schools with online student support communities. Such an online cohort can help students achieve academic success and, via networking, future career success.
Determine how you’ll pay for your degree
Some students budget ahead to pay for some or even all of their degrees upfront. Students should also fill out the Free Application for Federal Student Aid (FAFSA), as this will help the students qualify for federal loans to help pay for various educational costs. Additionally, having a FAFSA on file with a school can help the student qualify for grants or scholarships available through the school and the state. Keep in mind that it’s worth contacting the Financial Aid offices of different schools and inquiring directly about what aid may be available.
Best 50 Accredited Online Master’s in Entrepreneurship Programs
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How We Rank Schools
We reviewed several different degree programs in entrepreneurship, including Master of Business Administration (MBA), Master of Science (MS), and Master of Professional Studies (MPS) programs.
The primary criterion we considered is that programs had to deliver the curriculum entirely or primarily online. Programs that offer online and on-campus courses may allow students to complete their degrees through a combination of distance learning and in-person classes.
To ensure the quality of the programs, we only included regionally accredited institutions. Most programs also have additional programmatic accreditation through bodies like the Association to Advance Collegiate Schools of Business (AACSB) or the Accreditation Council for Business Schools and Programs (ACBSP).
We evaluated each program based on its outcomes, cost, reputation, flexibility, and faculty. 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 Master’s in Entrepreneurship Program?
The online master’s in entrepreneurship is designed to take a student’s existing knowledge of business, finance, and marketing to the next level. The graduate coursework looks to position students as thought leaders at the industrial and institutional levels. Because of this, coursework emphasizes how to better communicate with others and foster reliable decision-making skills.
In most programs, students will also master specialized technology to help them serve in future roles such as consultant, analyst, or CEO. Students with such managerial ambitions may focus on electives that build leadership skills, whereas those who want to serve as analysts may focus on electives fostering more technical knowledge.
Most of these online master’s in entrepreneurship programs are designed to be completed in two years by full-time students. There are also accelerated programs available that allow students to complete their coursework in as little as a year. In most cases, online programs will be flexible enough to work around the schedule of students who can only attend part-time.
Potential courses you’ll take in an online master’s in entrepreneurship degree program
- Principles of Entrepreneurship. This class serves as a foundation of the entrepreneurial tenets students must identify and take advantage of exciting new business opportunities. Students typically need to master skills such as conducting a feasibility study on an innovative idea and how to develop entrepreneurial solutions to a wide range of economic and social issues.
- Business for Entrepreneurs. This course focuses on advancing a student’s existing skills and understanding of fundamental business concepts with a focus on entrepreneurship. Students will learn more about how macroeconomics affects the availability of business opportunities and combine accounting, marketing, and management skills to develop innovative business solutions.
- Tech Ventures. This course helps students master critical concepts in technology necessary to launch their business ventures. Such instruction often includes hands-on practice with business software and in-depth lectures about technology’s current effect on business development.
- New Venture Finance. This course teaches students more about venture finance and venture capitalism, including how these forces have shaped and continue to shape the economy. On the most practical level, the course focuses on helping students assess whether the latest innovations are worth investing in and how to get started if they are.
Online Master’s in Entrepreneurship Degree Frequently Asked Questions
How do I apply to an online master’s in entrepreneurship degree program?
Applying to an online master’s in entrepreneurship program is as simple as pulling up the application on the university website and filling it out. The application will also specify if it has any additional requirements, including submitting undergraduate transcripts, GMAT test scores, letters of recommendation, or any application essays or cover letters.
If students are unsure about specific application requirements or have other questions about the program, contacting an admissions advisor is best. This person provides students with a quick and direct source to get answers to their most important questions.
How much does an online master’s in entrepreneurship degree cost?
According to the National Center for Education Statistics, the average cost of degrees such as a master’s in entrepreneurship is $19,792. However, the exact cost of the program will depend on many factors, including whether it is at a public school (which will be cheaper) or a private school (which will be more expensive). Additionally, in-state tuition is always more affordable than out-of-state tuition. Finally, the amount of credits the program requires and how long the student takes to complete coursework can impact the overall cost.
No matter the online cost, it should ultimately be cheaper than taking the same course on campus because students don’t have to worry about the expense of relocating to a university town and paying assorted campus fees.
How long does it take to earn an online master’s in entrepreneurship degree?
Most online master’s in entrepreneurship programs are designed to be completed in two years by students who attend full-time.
Fortunately, most programs also offer flexible scheduling that can accommodate part-time students, though attending part-time means it will take longer than two years to complete the traditional curriculum. Students who wish to complete their coursework as quickly as possible should consider applying to an accelerated program, as these are typically designed to be completed in only one year. Ultimately, students should carefully consider their current schedule and whether they have enough time to be full-time or part-time.