Many universities and business schools are known to offer online MBA programs. But, which of them are recognized as the best? Stay tuned to this post as I have brought to you the best online MBA programs and the fees they charge.
To step up in the business world and set yourself aside from the crowd it is best to get an MBA. If you are looking to get a leadership position in an organization or want to gain advanced business skills, expertise, and experience, an MBA is what you need for you to meet your goals.
The degree is fast becoming common these days as many individuals in the business field are seeing its importance and know how well it can level one up in the field. People who understand that business models change and they too need to evolve with it are mostly the ones that go for an MBA.
An MBA will equip you with professional skills, expertise, and experience to become a master of the business world. You will learn to manage businesses, organizations, and people and handle your role as a leader effectively. These and many more are why many businessmen and women are getting an MBA. You can go on to learn more about MBA and its importance.
Also, getting an MBA these days has become so easy and accessible that you can get it from a cheap online college without breaking the bank. Yes, MBA can be very expensive and you have to try and cut down the cost so that you don’t go into so much debt when you graduate from the program. Some cheap online MBAs in Canada are affordable to avoid you accumulating so much student debt.
Looks like I just dumped it on you but you can get an MBA completely online without having to set foot on the campus even once. This was what I meant by getting an MBA these days have become so easy and accessible. I’m certain that the online colleges in Georgia offer an online MBA and other graduate business programs online.
Harvard Business School Online, a pioneer of graduate business programs and where MBA first originated, offers online MBA in various specializations. However, the cost will be very high, so, you might want to check out the online MBA programs in Texas for an affordable MBA education.
If the whole getting-an-MBA-online thing doesn’t appeal to you and prefer attending a campus program to get your MBA, there are some cheap MBA in Canada that can help you get started.
What is an Online MBA Program?
MBA stands for Master of Business Administration. It is a graduate degree that provides theoretical and practical training to graduate students preparing them for leadership roles and higher levels in business and management fields.
An online MBA program is a typical MBA that is offered online rather than on campus. You can enroll in an online MBA program if you have a busy schedule because this study option is flexible and allows you to study from your home, while at work, or anywhere that is convenient enough for you to study.
To enroll in online MBA programs you will need typical online learning tools such as a laptop, iPad, or tablet, and a stable internet connection.
Requirements for Online MBA Programs
Just like a traditional MBA program, the online MBA program also needs you to meet some requirements to be considered for admission. While various schools are offering online MBA programs with diverse requirements, I have brought to you the basic and general requirements.
The requirements for online MBA programs are:
- Applicant must have completed a bachelor’s degree in business, finance, economics, or a related field from an accredited institution with a minimum GPA of 2.5 or higher on a scale of 4.0
- Academic transcript from previously attended institutions including high school
- GMAT/GRE test scores or waiver. There are MBA programs in the US that do not require the GMAT and if you can’t take the GMAT, apply to them.
- Letters of recommendation (your host institution will specify how many)
- Resume or CV
- TOEFL, IELTS, or any recognized English language proficiency test for international students.
- Work experience or two years or more is mostly required but there are some MBA programs in the UK, Canada, and the US that do not require work experience and they are offered online as well.
- Statement of purpose
- Online interview
- Application fee (your host institution will specify how much)
This list of requirements will set your mind towards what you need to enter an online MBA program. You will have to contact the admissions office of the school to know specific requirements such as the application fee, GPA requirement, scores for standardized tests, and amount of recommendation letters.
Benefits of Online MBA Programs
Here are reasons why you should consider taking an online MBA program:
- Online MBA programs are flexible meaning that it is designed to fit around your schedule
- The classes are self-paced which means that you can study and learn on your own time. You can choose to move either faster or slower.
- It is convenient. You could literally get an MBA learning from the comfort of your bed or curled up on the sofa or anywhere that is convenient enough for you to learn.
- It improves your use of digital tools
- You can be working and earning while studying to get your MBA degree.
- You get to connect with other business experts from diverse backgrounds who are students like yourself. This can help you expand your horizon and gain a global perspective.
- Online MBA programs do not limit or terminate your freedom. You can be traveling and be studying for your MBA
- A traditional MBA is 2 years of full-time study but online MBA programs can be completed in a shorter amount of time. Some programs offer fast-track or accelerated options that allow you to complete it in 12-15 months.
- Online MBA programs are cheaper compared to traditional MBA programs.
Best Online MBA Programs and their Fees
Here, I have curated the best MBA programs that are offering online classes that you can take at your convenience. I also gave the tuition for each of the online MBA programs to give you an insight into their respective cost.
There are many online MBA programs offered by various business schools, universities, and colleges across the world but which ones are recognized and ranked as the best? Keep reading to find out.
In no particular order, the best online MBA programs are:
1. Warrington College of Business Online MBA
Warrington College of Business is the business school of the University of Florida. If you are looking for a school to get quality MBA education online, you might want to consider Warrington. The online MBA at Warrington is ranked the third position by the US News & World Report in the category of best online MBA programs and it is also ranked by Financial Times as one of the world’s best.
The school is among the first to offer a fully-accredited online MBA program. There are two study options provided for students to earn their MBA online. A 16-month accelerated option for those with an undergraduate degree in business and who graduated seven years ago. The other option takes 2 years to complete and offers maximum flexibility. The tuition per credit is $1,208.
2. USC Marshall School of Business Online MBA
USC Marshall School of Business is the business school of the University of Southern California. The business school offers one of the best online MBA programs and is recognized by the US News & World Report as it takes the first position in its ranking of best online MBA Programs. The Princeton Review also ranks Marshall’s online MBA program among the top 25 online MBA programs.
The program is designed to equip business leaders with the skills and capabilities to lead their careers and take their businesses forward. The online MBA at Marshall is a 21-month accelerated program designed to be flexible and fit your schedule. The tuition per credit is $2,092.
3. Kelley School of Business Online MBA
Kelley School of Business is the business school of Indiana University and offers one of the best online MBA programs. The online MBA at Kelley is ranked in the No.1 spot of best online MBA programs by the US News & World Report. This program is offering you an opportunity to join a diverse and ambitious group of students who will assist you in building your business knowledge and network.
One of the perks of Kelley’s online MBA is how they accept everyone from diverse backgrounds and occupations as long as you meet the eligibility criteria. Tuition is charged per credit at $1,449.
4. Kenan Flagler Business School Online MBA
On our 4th list of best online MBA programs is the online MBA offered by the business school of the University of North Carolina – Kenan Flagler Business School. The program is ranked on the No.1 spot by the US News & World Report in the category of best online MBA programs and the business school itself is ranked among the top 20 business schools in the world.
Kenan’s online MBA has four start dates in a year to give you the flexibility to enroll at your convenience. Applicants can also apply for an application fee and GMAT waiver. There are also more than 25 electives and 5 concentrations to choose from. The tuition per credit is $2,025.
5. Tepper School of Business Online MBA
On our 5th list of best online MBA programs is the online MBA offered by Tepper School of Business, the business school of Carnegie Mellon University. Tepper’s online MBA is ranked in 4th place of the best online MBA programs by the US News & World Report. The program is offered in multiple study formats to fit your schedule including a part-time hybrid flexible format.
Tepper’s online MBA is STEM-designated to equip you with analytical and leadership skills required to lead others, unleash the power of data, and drive innovation in teamwork. The tuition is $18,200 per semester and there are 6 or 8 semesters if you go for the accelerated online program or the normal online program.
6. Foster School of Business Online MBA
Foster School of Business is the business school of the University of Washington and offers one of the best online MBA programs. The online MBA at Foster is ranked No.3 by Financial Times in the category of school for MBA job placement and also ranked No.5 best online MBA programs by the U.S News & World Report.
The online MBA at Foster isn’t completely online, it is a blended format of 95% and 5% on campus designed to fit a busy lifestyle. Class sizes are kept small at 87 students per cohort. The program takes 2 years to complete and carries 62 total credits. The total program cost is $90,000.
7. Saunders College of Business Online Executive MBA
Saunders College of Business is the business school of Rochester Institute of Technology and offers one of the best online MBA programs as recognized by the US News & World Report. It is surprising how a tech-focused institution offers one of the best online MBA programs, even its business school, Saunders, is one of the best business schools in the world.
Saunders College of Business offers an online executive MBA program for mid-to-upper-level professionals wishing to hone their business and leadership skills to boost their efficiency in the business space. The program consists of 4 semester that takes 17 months to complete. All learning materials are provided digitally. The tuition is $1,660 per credit.
8. Arizona State University Online MBA
If you are looking for one of the most affordable and best online MBA programs, ASU online MBA is your best option. The online MBA is ranked as the 7th best online MBA program by the US News & World Report. The program is 100% online and will help you develop leadership skills and expand your knowledge of advanced business strategies.
Total credit hours are 49 with 5 classes per week and a total of 17 classes. The tuition per credit is $1,247.
9. Eller College of Management Online MBA
Eller College of Management is the business school of the University of Arizona and offers one of the best online MBA programs. The US News & World Report ranks it in the No.7 position of best online MBA programs. The program is 100% online and allows you to take courses from anywhere, 24/7. The online MBA has 6 start dates per year so that you can enroll at a time that is convenient for you.
The program consists of 45 credits and you can either complete it in just 14 months or take up to 48 months, the learning pace is yours. You also get to choose from six areas of concentration. The total cost of the program is $51,525 but per unit, it is $1,145.
10. Naveen Jindal School of Management Online MBA
On our final list of best online MBA programs is the online MBA offered by the business school of the University of Texas at Dallas – Naveen Jindal School of Management. The online MBA is ranked 9th best by the US News & World Report. The program is 100% online and designed around your fast-paced life.
The online MBA at Naveen consists of 15 concentrations, 13 MS/MBA concentrations of which 7 are STEM-designated, and 59 elective course options. The tuition per credit is $1,858.
This wraps up a list of the best online MBA programs and their programs and I hope they will help help you determine where to apply. Also, due to the quality of their programs and competitiveness, the online MBA programs are hard to enter and expensive as well. Below, I have curated a list of the most affordable online MBA programs.
5 Affordable Online MBA Programs
MBA programs are expensive but the online ones tend to be cheaper compared to the traditional format. Here, I have curated a list of the most affordable online MBA programs that allow you to study at your convenience, offer you flexibility, and give you quality business education all without breaking the bank.
The cost of an MBA is between $10,000 to $100,000, let’s take a look at the ones slightly above $10,000.
The most affordable online MBA programs are:
1. The University of Texas Permian Basin Online MBA
On our first list of affordable online MBA programs is the online MBA offered by the University of Texas Permian Basin. The MBA here is completely online with 30-36 credits and costs a total of $12,815.64.
2. Western Governors University Online MBA
The online MBA program at Western Governors University is one of the cheapest online MBA programs with a tuition fee of $4,530 per six-month term. The MBA here is accelerated and you can complete it in just 12 months.
3. Parker’s University Online MBA
Parker’s University’s online MBA program has multiple concentrations in healthcare and management and other business principles. The cost of an online MBA here is also one of the most affordable online MBA programs at $740 per credit. The total credit is 36 and the program length is 24 months.
4. California Institute of Advanced Management Online MBA
The online MBA at the California Institute of Advanced Management is one of the most affordable online MBA programs at $667 per credit. The required credit is 36 and the program length is 24 months. The program is offered in a hybrid format.
5. Georgia Southwestern State University Online MBA
On our fifth list of most affordable online MBA programs is the online MBA offered by Georgia Southwestern State University. The tuition is $9,210 and the program is 100% online.
Online MBA Programs No GMAT
It is not common knowledge that one of the entry requirements of the online or traditional MBA programs is GMAT scores, however, some schools that do not require a GMAT are:
- The University of Minnesota
- The University of Miami
- Southeastern Oklahoma State University
- Johnson University
- Southern Methodist University
These schools offer online MBA programs without the GMAT requirement but that means that you need to have an excellent academic record like a GPA of 3.0 or above and professional work experience of 2-8 years.
This wraps up the post on online MBA programs and I hope it has been helpful. Good luck with your application.
- 10 Best Online MBA in India | Fees, and Program
- Tips to Have Work-Life Balance While Getting Your MBA
- Should you choose a global MBA program or a Master of International Business?
- 10 Best Business Schools In Canada With Scholarships
- 10 Free Online Business Courses With Certificates
- 10 Best Colleges In California For Business
- 9 Business Certifications Worth Getting and Why
Thaddaeus is a lead content creator at SAN with over 5 years of experience in the field of professional content creation. He has written several helpful articles for Blockchain projects in the past and even recently but since 2020, he has been more active in creating guides for students who want to study abroad.
When he's not writing, he's either watching anime, making a delicious meal, or definitely swimming.