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 to 36 credit hours. With an accelerated program, students can earn their degree in as little as one year.
In terms of cost, the National Center for Education Statistics reports that the average graduate school tuition is $12,596 at public institutions and $28,017 at private institutions. Once you’ve earned your master’s in entrepreneurship degree, you’ll have access to a variety of high-paying job opportunities.
How to Choose an Online Master’s in Entrepreneurship Program
Choose your area of study
This degree is typically available as a Master of Science (MS), Master of Professional Studies (MPS), or Master of Business Administration (MBA) — those who plan to enter the corporate world should choose an MBA program. Also, some programs will allow you to select a concentration and focus your studies on a particular specialty, such as venture capital or social entrepreneurship. Carefully think about what your career goals are, then look for programs that best match those specific goals.
Research schools and programs
You should only consider institutions that have been approved by a DOE-recognized regional accrediting organization, such as the New England Commission of Higher Education or Northwest Commission on Colleges and Universities. These organizations evaluate schools to ensure they provide students with a high-quality education. Those who attend a school that isn’t regionally accredited may be unable to access financial aid or transfer credits to another institution if needed.
Ideally, your master’s in entrepreneurship program will also be accredited by a respected industry group like the Association for the Advancement of Collegiate Schools of Business (AACSB) or the Accreditation Council for Business Schools and Programs (ACBSP). These programmatic accrediting organizations have particularly high standards for business education.
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.
To learn more about any schools that you’re interested in, you can visit their website, contact an admissions counselor, follow the school on social media, or attend an in-person or virtual open house.
Prepare for tests and applications
Each school and program has their own set of application requirements. 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 test scores, recommendation letters, personal statements, and transcripts may be required as well. Before submitting an application, always contact an admissions counselor to ensure you have the most accurate information regarding requirements and deadlines.
Select your program
Before making your final decision, review your needs and goals again. Do you plan to attend school full-time or part-time? Are you only interested in 100% online programs, or are you fine with a hybrid program that has a few in-person requirements? Some programs offer asynchronous courses, which can be completed at your own pace, while others only offer synchronous courses, which involve remotely attending lectures and completing assignments at the same time as other students — which of these two online learning formats do you prefer? Your school should accommodate your scheduling needs and learning preferences.
Determine how you’ll pay for your degree
Students should 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. Those who already work in the field should see if their employer offers tuition assistance benefits as well.
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. Coursework emphasizes how to better communicate with others and foster reliable decision-making skills, and students will also master specialized technology to help them serve in roles such as consultant, analyst, or CEO. Students with 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 to take advantage of exciting new business opportunities. Students typically need to master skills such as conducting feasibility studies on innovative ideas and developing 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 the 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.
What Can You Do With an Online Master’s in Entrepreneurship Degree?
Career outlook
In today’s dynamic business landscape, the field of entrepreneurship is rapidly evolving, and pursuing an online master’s degree in entrepreneurship can open doors to a multitude of exciting and diverse career opportunities. This program equips individuals with the knowledge and skills necessary to navigate the entrepreneurial journey, from ideation to successful venture management.
Indeed, the career outlook for individuals with a master’s degree in entrepreneurship is promising, driven by the growing importance of entrepreneurship in the global economy. The broad category of entrepreneurship involves industries ranging from health care to finance and everyone from small business owners to the CEOs of Fortune 500 companies. Some of the specific career paths available for those with a master’s in entrepreneurship include:
- Top executive — Coordinate the work of an organization by establishing goals, overseeing activities, and appointing department heads and managers.
- Median annual salary: $100,090
- Projected employment growth (through 2032): 3%
- New job openings projected: 311,600 annually
- Project management specialist — Oversee all aspects of a project, including budgeting, staffing, and progress monitoring.
- Median annual salary: $95,370
- Projected employment growth (through 2032): 6%
- New job openings projected: 68,100 annually
- Management analyst — Advise organizations on how to increase revenue, reduce expenses, and improve efficiency.
- Median annual salary: $95,290
- Projected employment growth (through 2032): 10%
- New job openings projected: 92,900 annually
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 tuition for graduate school is $20,513 per year. 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 more affordable than out-of-state tuition at public schools. Finally, the amount of credits the program requires and how long the student takes to complete coursework can impact the overall cost.
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.
Is an online master's in entrepreneurship worth it?
An online master’s degree in entrepreneurship can be a highly worthwhile investment in your career. This degree can equip you with the knowledge and skills needed to thrive in the competitive world of entrepreneurship and open up numerous career possibilities. Whether you aim to launch your venture, consult with startups, or innovate within established companies, this degree program provides a strong foundation for success.
Earning your degree online allows you to balance your studies with other personal or professional commitments, making it an accessible option for those with busy schedules. Online students may also have excellent opportunities to network with other like-minded students, professors, and industry professionals across the country.