If you’re looking to advance your career in business and gain a competitive edge, these online MBA programs offer a flexible and convenient way to achieve your goals. Taking as little as 18 months to two years to complete, online MBA programs are known for catering to working professionals seeking to balance their studies with their busy schedules. While costs may vary, the average tuition for a graduate degree program is $20,513 per year.
Graduates of these programs are well-prepared for various leadership roles — such as marketing manager, financial manager, and operations manager — with average annual salaries ranging from $103,840 to $156,580.
How to Choose an Online MBA Program
Choose your area of study
While earning a general MBA is an excellent option for students wanting to remain open to a diverse range of career opportunities, those with an eye on a particular field may do well to pursue a concentration. To choose yours, carefully consider your career goals and evaluate which area of study will help you meet those objectives.
For instance, finance and accounting specializations suit people with strong analytical skills, while marketing and sales are ideal for creatives with outstanding communication abilities. Operations and supply chain management may appeal to those with a penchant for efficiency and process optimization.
Research schools and programs
You should only apply to 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 online MBA 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.
Look into factors such as curriculum relevance, internship opportunities, and faculty reputation. It’s also important to consider the financial aspect of pursuing higher education. While there are many options to help you finance your degree, you’ll want to focus your research on programs within your budget.
To learn more about any schools that you’re interested in, you can visit the school’s 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
Application requirements vary by school and program. If standardized tests like the GMAT or GRE are required, create a study plan, take practice exams, and consider enrolling in a prep course.
Undergraduate transcripts, letters of recommendation, and a personal statement are often required as well. By meticulously preparing for this crucial part of the admissions process, you can enhance your chances of admission to your dream MBA program.
Also, you should 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? Do you want your program to be as online as possible, or are you fine with a hybrid program that has a fair amount of 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
Speak to financial aid counselors at the schools you’re interested in for the most accurate and specific information about program cost. To figure out how you will fund your education, start by researching scholarships and grants specifically tailored to graduate students, which are often offered by universities, private organizations, and professional associations. Complete the Free Application for Federal Student Aid (FAFSA), as it will help you access federal student loans and potentially work-study programs. And those who already work in the field should see if their employer offers tuition assistance benefits as well.
The 50 Most Popular Online MBA Degree Programs
Discover More Options
How We Rank Schools
This list features some of the country’s most popular online MBA programs. These programs are offered by nonprofit, regionally accredited postsecondary institutions, either public or private, and can be completed fully or partially online.
We ranked programs by evaluating their retention and graduation rates, cost, faculty, reputation, and more. We also compared this comprehensive list of popular online MBA programs to a list of aggregated college rankings from reputable publications, such as U.S. News & World Report. Based on these reviews and rankings, we calculated the Intelligent Score on a scale of 0 to 100 for each school. To learn more, read our ranking methodology.
What Can You Expect From an Online MBA Program?
Online MBA programs give aspiring business professionals a comprehensive education in business administration with the flexibility to study from anywhere. Students learn essential marketing, leadership, operations, and finance skills, enabling them to make strategic business decisions. These programs usually take 18 months to two years to complete, depending on the student’s pace and whether they enroll part-time or full-time.
Online MBA programs usually offer a blend of asynchronous and synchronous learning, leveraging virtual classrooms, video lectures, and interactive assignments. Additionally, students can participate in discussions and collaborate with peers from diverse professional backgrounds.
While most programs are entirely online, some may require in-person workshops or residencies, usually lasting a few days to a week. These on-campus components facilitate networking, team-building exercises, and face-to-face interactions with faculty and fellow students, enhancing the learning experience.
Potential courses you’ll take in an online MBA program
- Operations Management: Frequently a core requirement, courses centered on operations management focus on managing business procedures, supply chains, and quality control. Students learn to optimize operations, reduce costs, and enhance productivity to achieve organizational efficiency.
- Entrepreneurship and Innovation: This course explores the principles of entrepreneurship, covering topics such as opportunity recognition, business planning, and financing options. Students gain expertise in innovation, developing business models, and creating sustainable ventures.
- Financial Management: Another standard requirement in most curricula, this course equips students with the knowledge and skills to analyze financial statements, evaluate investment opportunities, and make informed decisions about financing, risk management, and capital budgeting.
- Business Ethics: While some programs consider this course an elective, many others include it as a segment of their core curriculum. This course teaches students how to examine ethical dilemmas in business and make responsible decisions considering the impact on stakeholders and society. They explore corporate social responsibility initiatives and sustainability practices in modern business settings.
What Can You Do With an Online MBA Degree?
Career outlook
Many career paths are open to MBA graduates, although your interests and skills will determine your direction. Many MBA students choose to specialize in a particular field, such as finance or healthcare administration, to pursue a position in an area that appeals to them.
An MBA equips you for leadership-level positions across business and industry. You may also utilize your degree in the classroom at the secondary or higher education level or in the nonprofit world.
Here are some possible career paths you might embark on with an online MBA degree:
- Top executive — Coordinate the work of an organization by establishing goals, overseeing activities, and appointing department heads and managers.
- Median annual salary: $103,840
- Projected employment growth (through 2032): 3%
- New job openings projected: 311,600 annually
- Management analyst — Advise organizations on how to increase revenue, reduce expenses, and improve efficiency.
- Median annual salary: $99,410
- Projected employment growth (through 2032): 10%
- New job openings projected: 92,900 annually
- Financial manager — Maintain the financial health of an organization by directing investment activities and developing plans for meeting long-term financial goals.
- Median annual salary: $156,100
- Projected employment growth (through 2032): 16%
- New job openings projected: 69,600 annually
Online MBA Degree Frequently Asked Questions
How do I apply to an online MBA degree program?
The application process for most online MBA programs is relatively straightforward. While admissions requirements vary, most institutions require applicants to submit their academic transcripts, a resume, letters of recommendation, and a statement of purpose. Some programs may require standardized test scores like the GMAT or GRE, while others offer waivers based on work experience or academic achievements.
Communicating with an admissions counselor is crucial to clarify doubts and ensure you meet all requirements. They can guide you through the application process, help with document submission, and provide valuable insights to enhance your chances of admission.
How much does an online MBA degree cost?
The average annual tuition for a graduate degree is $20,513. However, this figure can vary significantly depending on your chosen institution and program. Private schools are generally more expensive than public schools, though public schools tend to charge out-of-state students a much higher tuition rate than in-state students.
It’s also important to consider additional expenses like textbooks, technology requirements, and potential travel costs for workshops or other in-person activities in hybrid programs.
How long does it take to earn an online MBA degree?
Most full-time students take 18 months to two years to graduate with their MBA. Those who enroll part-time may extend the timeframe to three years or more. However, many students find that studying part-time enables them to balance work and personal commitments while earning their degree.
Likewise, each program’s length will vary depending on its credit requirements, with most online MBA programs ranging from 36 to 54 credits. Generally, the more required credits, the longer it will take to complete.
Is an online MBA degree worth it?
An online MBA degree program can be worth it if it aligns with your interests and professional aspirations. This degree provides a solid grounding in business principles and can position you for leadership positions in various fields and business sectors.
Earning your MBA provides excellent networking opportunities with peers, faculty, and alumni. They and your institution’s career services office can help you gain a position that suits you and offers a competitive salary. Management positions have a median annual income of $116,880, which is the highest of any major occupational group.
For those interested in entrepreneurship, an MBA will give you the foundational skills needed to launch, market, and succeed with a business. Many MBA programs offer access to resources such as business incubators and consulting opportunities that can support early-stage startups.
Earning your MBA online can be an efficient way to gain a graduate credential. The flexibility of asynchronous classes, which can be taken whenever it is convenient for the student, makes it an excellent choice for adult learners with other personal or professional commitments.