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Affordable Online MBA Programs
MBA students may be concerned about student loan debt and whether the degree leads to better jobs with higher salaries. Medical and health services managers typically earn a median annual salary of $100,000, according to the U.S. Bureau of Labor Statistics (BLS). An MBA programs can definitely improve career and income prospects in this regard.
You don’t need to spend upwards of $200,000 on a traditional MBA program. A lot of students think they do, but don’t. By attending an affordable online MBA program (which may be combined with an in-person degree), candidates save money and gain the same valuable knowledge as other business school students.
We have compiled a list of some of the best online MBA programs to assist students in their search. Generally, an MBA program is considered to be “affordable” if it has low tuition, excellent financial aid resources, and/or cheap online options.
Most Affordable Online MBA Programs Methodology
To make sure you choose an affordable master’s degree program without sacrificing quality, we have ranked the 10 most affordable online MBA degrees. We used College Navigator data to ensure these choices are accredited and accepted by employers. We also sourced data from other reliable online sources to make sure these 10 online MBA programs are both affordable and high valued.”
15 Most Affordable Online MBA Programs Rankings
1. John Brown University
Founded in 1919, JBU serves over 2,600 students and offers graduate programs in business, education, counseling, and cybersecurity. In its motto, “Christ over all,” the church encapsulates an interdenominational Christian identity.
Accreditation
Higher Learning Commission, ACBSP
Tuition
$600/credit
Duration
2 year
Credits
36-45 credits
JBU offers a distinctively Christian approach to leadership, management, and business education. The school’s MBA program combines practical skills training with an exploration of ethics, leadership, and global business.
The same 24 credits of core courses are taken by all students, including Christian foundations of business and designing and executing strategies. Then students take another 12 credits of electives, where they can create a concentration in a variety of areas.
Each course lasts seven to eight weeks, and most students take one course at a time. Evening programs are available at JBU, which students may use to complement the fully online MBA program.
JBU’s Affordability
JBU does not charge additional tuition fees, and the school offers scholarships and assistantships. Moreover, Arkansans have the second-lowest cost of living in the U.S., helping to keep overall expenses down for college students.
JBU’s MBA Specializations
Cybersecurity | Design Thinking and Innovation | Healthcare Administration | International Business | Leadership | Market Research and Consumer Insights
Admissions
Process: Submit the application, the fee, and a 200-word essay on professional interests; send all higher education transcripts; send three references; respond to any request for additional information
- GPA: 2.75 minimum preferred
- Standardized Tests: GRE for applicants with GPA below 2.75
- Cost:$35
School Type: Private
Delivery Format: Online
Location: Siloam Spring, AR
Graduation Rate: 66%
2. Florida Institute of Technology
Florida Tech was originally an engineering school, but today, it serves more than 6,400 students in a variety of academic fields. The school emphasizes technology and supports research into human-centered design, software evolution, and robotics.
Accreditation
Southern Association of Colleges and Schools Commission on Colleges, IACBE
Tuition
$896/credit
Duration
2 year
Credits
36 credits
Bisk College of Business
Florida Tech’s MBA program focuses on leadership, business foundations, and soft skills needed in successful professional life. This 36-credit program offers courses in four main content areas: business development basics, advanced business topics, leadership and management, and industry-specific topics.
In addition to eight core courses, learners choose four elective courses that form a concentration. Courses run for eight weeks, and a new course starts six times each year. The school offers new students extensive training in its educational technology platform along with support throughout the degree program.
They join 60,000 alumni spread across 120 countries, many active through social media and regional events.
Florida Tech’s Affordability
Florida Tech offers substantial discounts on tuition for military, public safety, and law enforcement officials. Additionally, the school provides scholarship support for undergraduate alumni and assists others with financial support.
Florida Tech’s MBA Specializations
Accounting | Accounting and Finance | Cybersecurity | Finance | Healthcare Management | Information Technology Management | Management | Marketing | Project Management | Project Management in Information Technology
Admissions
- Process: Complete the online application, send transcripts
- Cost: None
School Type: Private
Delivery Format: Online
Location: Melbourne, FL
Graduation Rate: 60%
3. Milwaukee School of Engineering
A private university with over 3,000 students, MSOE began as a training ground for engineers. The school’s curriculum still emphasizes STEM fields, and its business degrees emphasize a commitment to technology and engineering.
Accreditation
Higher Learning Commission
Tuition
$891/credit
Duration
2 years
Credits
45 credits
Rader School of Business
Online MBA students at MSOE learn to solve business and technical problems in the real world. This program is designed to prepare engineers and technical professionals for leadership and management roles.
Coursework includes 30 credits of core classes and 15 credits of a specialization. Students take a three-part capstone project as part of their program. There are courses on operations and systems management; economic analysis and decision-making; and strategy, innovation, and entrepreneurship.
In addition to its own academic specializations, MSOE offers learners the chance to hone their skills in healthcare management through a creative partnership with the Medical College of Wisconsin.
MSOE’s Affordability
MSOE helps MBA students identify scholarships, grants, and other forms of funding through the state, federal, and private system. They also offer benefits to veterans, their spouses, and current members of the U.S. military.
MSOE’s MBA Specializations
Leadership | Business Analytics | Construction Management
Admissions
- Process: Complete the application, submit supporting documentation, pay enrollment fee upon acceptance
- GPA: 2.8 minimum preferred
- Standardized Tests: GRE or GMAT if applicant does not hold a 2.8 GPA or Above
- Cost: None
School Type: Private
Delivery Format: Online
Location: Milwaukee, WI
Graduation Rate: 74%
4. West Virginia University
During its more than 150-year history, WVU has developed an extensive academic network that now offers more than 350 academic programs. The university enrolls about 30,000 undergraduate and graduate students at its main campus in Morgantown, as well as satellite campuses and online
Accreditation
Higher Learning Commission, AACSB
Tuition
$1,063/credit
Duration
21 months
Credits
37 credits
John Chambers College of Business and Economics
Students in WVU’s hybrid MBA program prepare for fast-growing, high-paying careers in business and leadership. In order to attend the 37-credit program, learners must attend two three-day residencies in order to network, study face to face, and engage in experiential learning.
The business school offers courses in statistical decision making, marketing and business research, and supply chain design and innovation. Students can have service learning, case study, or independent study projects as well.
The hybrid MBA program consists of eight credits in the fall and spring semesters and 4-7 credits in the summer sessions. Under the specializations section below, students can also take advantage of one of three “bolt-on certificates.”
WVU’s Affordability
Online MBA students from outside West Virginia pay the same tuition fee as students from within the state. Members of the U.S. military receive substantial discounts on tuition, as well as support from the federal government.
WVU’s MBA Specializations
Business Data Analytics | Forensic Accounting and Fraud Examination | Business Cybersecurity Management
Admissions
- Process: Complete the application and include a resume and letter of recommendation, send a purpose statement, pay the application fee, send transcripts
- Standardized Tests: GMAT; waived for applicants with five years of experience and a minimum 3.0 GPA
- Cost: $60
School Type: Public
Delivery Format: Hybrid
Location: Morgantown, WV
Graduation Rate: 60%
5. Cedarville University
Cedarville University, an independent Baptist college located in Cedarville, Ohio, enrolls more than 4,000 students across 130 graduate and undergraduate programs. In its academic courses, the institution combines a biblical worldview with practical instruction.
Accreditation
Higher Learning Commission, ACBSP
Tuition
$623/credit
Duration
1-2 years
Credits
36 credits
School of Business Administration
Students of Cedarville’s MBA program explore a distinctly Christian approach to business education, learning about professional skills and leadership.
Students take nine core courses, three specialization courses, and a three-credit Bible course, which the school does not require of students minoring in biblical studies. Strategic marketing planning, financial management, and information technology for competitive advantage are core courses. The capstone project is also completed by students. It takes seven weeks to complete each course.
Apart from classroom-style learning, degree-seekers will also have the opportunity to complete hands-on education such as case studies, simulation games, and personal projects. Career opportunities in compliance, healthcare management, and business operations may be pursued by graduates.
Cedarville’s Affordability
Members of the military and veterans can take advantage of many programs to lower their overall costs. Additionally, Cedarville partners with ministries, businesses, and other schools to provide 15% discounts to their employees.
Cedarville’s MBA Specializations
Business Analytics | Cybersecurity Management | Healthcare Administration | Innovation and Entrepreneurship | Operations Management
Admissions
- Process: Complete the application; send official transcripts; send recommendations from one Christian leader and one professional leader; complete all prerequisite courses
- GPA: 2.75 minimum preferred
- Cost: None
School Type: Private
Delivery Format: Online
Location: Cedarville, OH
Graduation Rate: 72%
6. St. Thomas University
Located in Miami Gardens, Florida, STU is a private, nonprofit Roman Catholic school with more than 4,000 students enrolled in undergraduate, graduate, and professional academic programs. The school was established in Cuba in 1946 and moved to Florida in 1961.
Accreditation
Southern Association of Colleges and Schools Commission on Colleges
Tuition
$515/credit
Duration
12 months
Credits
36 credits
Gus Machado College of Business
Students in STU’s online MBA program can begin the program at any one of the six start dates throughout the year. From there, it takes just 12 months to earn a degree, providing enrollees enter the program with the prerequisites in place.
Students study both qualitative and quantitative elements of modern business in their courses. Coursework consists of a combination of core courses and electives. International business, strategic marketing management, and financial management are among the core courses.
STU business school professors have both academic credentials and real-world business experience. Online students have access to faculty members, librarians, technology professionals, and financial aid staff members.
STU’s Affordability
The total cost of the program is $19,440, including a technology fee. Students from within the state and from outside the state pay the same tuition rate, and degree-seekers may pay tuition on a course-by-course basis. You can take advantage of both public and private financial aid options.
STU’s MBA Specializations
Marketing | Accounting | Human Resource Management | Sports Management | Cybersecurity Management
Admissions
- Process: Complete the online application and send official transcripts; students with GPAs of 2.33-2.75 must submit additional materials
- GPA: 2.33 minimum
- Cost: None
School Type: Private
Delivery Format: Online (asynchronous)
Location: Miami Gardens, FL
Graduation Rate: 44%
7. Walsh University
Walsh University was established in 1960 by the Brothers of Christian Instruction as a liberal arts college in the Catholic educational tradition. Almost 3,000 students are enrolled in 70 academic programs at the school.
Accreditation
AACSB, HLC
Tuition
$745/credit
Duration
12 months
Credits
36 credits
DeVille School of Business
Students enrolled in Walsh University’s MBA program study business dynamics, understand the entrepreneurial mindset, and acquire knowledge to advance their careers. Each course lasts eight weeks, and the program offers six start dates per year.
There are nine core courses in Walsh’s curriculum and three specialty courses. Classes in core subjects include organizational behavior, information systems, and applied organizational research and analysis, as well as two practicums. Students are paired with current industry leaders in a one-on-one relationship during these practicums. In addition, learners complete a capstone program called strategic management.
Graduates gain specialized knowledge and soft skills to use in the real world.
Walsh’s Affordability
To cover tuition and other costs, the university accepts private and public funding, such as federal student loans and corporate sponsorships. Walsh’s short program allows students to get to work more quickly, potentially earning more money with their new degrees.
Walsh’s MBA Specializations
Data Analytics | Healthcare Management | Management | Marketing
Admissions
- Process: Applicants should contact the admissions office prior to completing the application.
- GPA: 3.0 minimum preferred
- Cost: None
School Type: Private
Delivery Format: Online
Location: North Canton, OH
Graduation Rate: 59%
8. Webster University
A private Catholic school near St. Louis, Missouri, Webster University was one of the first higher education institutions to support racial integration. Nearly 10,000 students from all over the world attend Webster.
Accreditation
Higher Learning Commission, ACBSP
Tuition
$780/credit
Duration
2 years
Credits
39-45 credits
George Herbert Walker School of Business & Technology
Webster’s programs encourage competency as well as effectiveness in students. As a result, the curriculum addresses 18 business and nine personal effectiveness areas. These areas are part of an environmental, social, and governmental framework.
Courses included in this school’s socially conscious curriculum include courses on human capital, value creation, supply chain, and business processes. Additionally, students take classes in value creation and conclude with a consulting project. This project allows learners to work with teams across Webster to identify real challenges external organizations face and form solutions.
There is a choice between a fully online program and a flipped-learning (hybrid) approach, which involves two hours of classroom time each week.
Webster’s Affordability
In addition to helping students locate, apply for and use financial aid from public and private sources, Webster University offers tuition discounts for military members along with a flat textbook fee.
Webster’s MBA Specializations
Corporate Communications | Corporate Finance | Cybersecurity | Digital Marketing Management | Enterprise Resource Planning | Health Administration | Information Technology Management | International Business | Marketing | Project Management
Admissions
- Process: Complete the application; submit official transcripts
- GPA: 2.5 minimum
- Cost: $50
School Type: Private
Delivery Format: Online or hybrid
Location: Saint Louis, MO
Graduation Rate: 59%
9. Hawaii Pacific University
A private, nonsectarian school with nearly 5,000 students, HPU serves students from at least 65 countries. The institution has been recognized for its aqua research facility and for providing educational services to U.S. military bases in Hawaii.
Accreditation
Western Association of Schools and Colleges, AACSB
Tuition
$1,200/credit
Duration
16-20 months
Credits
32 credits
HPU’s College of Business
The MBA at HPU emphasizes flexible options, project-based learning, and real-world application.
Learners who participate in the 32-credit curriculum take a predesigned set of courses that include self- and other-leadership, digital marketing strategy, managing across boundaries in the twenty-first century, and financial knowledge for managers in the fourth industrial revolution. This curriculum concludes with a capstone project.
HPU degree seekers participate in project-based learning activities at partner companies drawn from the Honolulu business community as part of their studies. The graduates leave with a solid understanding of business theories and the teamwork and communication skills required for real-world success.
HPU’s Affordability
HPU helps students look for grants, loans, and scholarships to help pay for their education. The school also provides shorter programs than average, leading to lower overall tuition costs for students. Hawaii’s high costs of living can also be avoided by students who learn online.
Admissions
- Process: Fill out the application; send transcripts; forward two letters of recommendation, a statement of purpose, a resume, test scores, and an application fee
- Standardized Tests: GMAT or GRE
- Cost: $55
School Type: Private
Delivery Format: Online, hybrid, or on campus
Location: Honolulu, HI
Graduation Rate: 44%
10. Bay Path University
Bay Path is a private, nonsectarian university of more than 3,000 graduate and undergraduate students located in Longmeadow, Massachusetts. The college was founded as a co-educational institution, became a women-only college in 1945, and now serves all genders as a graduate level.
Accreditation
New England Commission of Higher Education
Tuition
$855/credit
Duration
1-2 years
Credits
36 credits
Bay Path University Graduate College
Admission to Bay Path’s MBA program in entrepreneurial thinking and innovative practices is open to applicants with and without business backgrounds. The school welcomes new students six times per year, and the courses last eight weeks each.
Courses include 10 core courses and two electives. A core curriculum includes high performance leadership strategies, business growth strategies, and entrepreneurial marketing strategies. This program concludes with a capstone called entrepreneurial management strategies, where students analyze a real-world problem and recommend changes to that problem.
The Bay Path offers one- and two-year degree programs, so that students can follow their choice of calendar.
Bay Path’s Affordability
Additionally, Bay Path offers financial assistance to members of the military and assists other degree-seekers in receiving employer reimbursements and other forms of aid. The school works closely with NetPartner to help students manage their financial aid applications efficiently.
Admissions
- Process: Submit a completed application fee, transcripts, a resume, and two recommendations; write an essay on why the MBA in entrepreneurial thinking and innovative practices is important to your personal and professional goals
- GPA: 3.0 minimum preferred
- Cost: None
School Type: Private
Delivery Format: Online, hybrid, or on campus
Location: Longmeadow, MA
Graduation Rate: 59%
11. New Jersey Institute of Technology
NJIT was founded in 1881 with 88 students and is now serving over 11,500 students, 2,000 of whom study on campus. Institute faculty members have won many awards for innovation in technology and engineering, which have remained the school’s focus.
Accreditation
Middle States Commission on Higher Education, AACSB
Tuition
$1,050/credit
Duration
2 years
Credits
48 credits
Martin Tuchman School of Management
NJIT provides students with the knowledge and skills they need to succeed in today’s technology-driven business environment.
The school’s 48-credit program consists of 27 core credits, nine electives, and 12 hours of concentration courses. Competition in global markets, information system principles, and management science are core classes. The elective options focus on data, knowledge management, and technology.
Throughout the program, five themes guide students — managing in real-time, fostering knowledge-based innovation, competitive advantage through strategic alignment, managing uncertainty and change, and managing global hyper-competition.
Graduates can work as CEOs, business analysts, or finance or marketing managers.
NJIT’s Affordability
For its students, NJIT created Scholarship Universe, a scholarship-matching tool. The school also helps students find and apply for public funds for education. Furthermore, the online program’s tuition does not differentiate between resident and non-resident students.
NJIT’s MBA Specializations
Innovation and Entrepreneurship | Custom | Healthcare Management | Marketing | Finance | Management Information Systems
Admissions
- Process: Submit the application, one letter of reference, college transcripts, and the application fee.
- Cost: $75
School Type: Private
Delivery Format: Online
Location: Newark, NJ
Graduation Rate: 65%
12. Westminster College
Westminster College is a private, liberal arts college loosely affiliated with the Presbyterian Church, located in Salt Lake City, Utah. It was one of the first accredited junior colleges in the state when it was founded in 1875. Today, Westminster serves around 3,000 students
Accreditation
Northwest Commission on Colleges and Universities, ACBSP, AACSB
Tuition
$1,464/credit
Duration
18-24 months
Credits
39 credits
Bill and Vieve Gore School of Business
Westminster offers a unique experience in its project-based MBA program. Students commit to completing projects under the guidance of a faculty coach instead of taking a series of classes. The learners engage in this method, build on their skills, and focus their studies on their specific interests.
For degree candidates to graduate, they must demonstrate competency in five areas: strategic leadership, consumers in the market, enterprise performance, implementing strategy, and business planning. They must also pass a major field test in business.
Online students study through an interactive format and work through the program at their own pace.
Westminster’s Affordability
The tuition for this program includes all course materials and the cost of an international context tour. Westminster guarantees all-inclusive, fixed pricing for five years after the student enrolls.
Admissions
- Process: Submit application, fee, two-page personal statement, two letters of recommendation, current resume, and transcripts
- Cost: $50 (waived for online or on-campus visit)
School Type: Private
Delivery Format: Online, plus five one-day residencies and one international trip
Location: Salt Lake City, UT
Graduation Rate: 61%
13. Molloy College
Rockville Center’s Molloy School educates students in the Dominican tradition of Catholic education. More than 5,000 degree-seekers pursue their academic interests in more than 50 academic programs at the undergraduate, graduate, and doctoral levels.
Accreditation
Middle States Commission on Higher Education, AACSB
Tuition
$1,195/credit
Duration
1 year
Credits
33-36 credits
Molloy School of Business
Molloy’s online program allows learners to begin at any time. To earn the MBA, students take 33 or 36 credits, depending on their concentration. These credits include core business and leadership classes, concentration courses, and a capstone.
Business ethics and professional responsibility, financial statement analysis, and quantitative analysis supporting managerial decisions are among the core courses. As part of the capstone, students work in teams to come up with solutions to consulting problems. MBA students must draw on the knowledge they gained in their MBA program when recommending solutions.
A team’s final papers are usually submitted to the Northeast Business and Economics Association Annual Conference for consideration.
Molloy’s Affordability
Molloy offers a variety of grants and scholarships, along with assistance with applying for state and federal aid. This one-year program allows students to earn their degrees more quickly and start earning more quickly.
Molloy’s MBA Specializations
Finance | Healthcare | Management | Marketing
Admissions
- Process: Send all required transcripts along with your application and essay. Submit a letter of reference and a resume, then complete an interview.
- GPA: 3.0 minimum preferred
- Standardized Tests: GMAT for applicants with a GPA below 3.0
- Cost: $60
School Type: Private
Delivery Format: Online
Location: Rockville Centre, NY
Graduation Rate: 75%
14. Kettering University
Since 1919, Kettering has prepared engineers and other STEM and business professionals through hands-on training and academic experience. Located in Flint, Michigan, the school has 500 partnerships with local companies.
Accreditation
Higher Learning Commission, ACBSP
Tuition
$940/credit
Duration
18 months
Credits
40 credits
Kettering University Graduate School
A Kettering MBA program that emphasizes technical problem-solving has been geared toward practicing engineers who want additional management skills to their professional toolkit. Students can earn an online degree in just one year and add on a second degree for just four more courses.
The school’s 40-credit MBA program requires ten courses: seven cores and three sequences. Among the core courses are marketing management, strategic management, and financial management, along with a capstone.
The capstone project requires learners to develop a new product, delivery, or process and follow the new product development process from beginning to end.
Kettering’s Affordability
Students at Kettering can earn two degrees in two years, an MBA and either an MS in Operations Management or an MS in Engineering Management. There are 14 courses in this dual-degree program — similar to the requirements for just one degree at many schools. A learner can earn two degrees for the price of one.
Kettering’s MBA Specializations
Modern Business Practices | Global Leadership | Operations Management | Healthcare Management | Supply Chain Management Level 1 or 2
Admissions
- Process: Applicants complete an application form and send in letters of reference, transcripts, and a resume.
- GPA: 3.0 minimum
- Cost: $60
School Type: Private
Delivery Format: Online
Location: Flint, MI
Graduation Rate: 63%
15. Mercer University
Mercer University, Georgia’s oldest private university, was founded as a boys’ preparatory school in 1833. More than 8,700 students are enrolled in the institution’s 12 schools and colleges today. Mercer started as a Baptist school but now operates as a nonsectarian institution.
Accreditation
Southern Association of Colleges and Schools Commission on Colleges, AACSB
Tuition
$795/credit
Duration
12 months
Credits
$795/credit
Stetson-Hatcher School of Business
With Mercer’s self-paced, flexible MBA program, you can choose between 30 credit hours of an advanced degree and 36 credit hours of a traditional degree. Students in the longer program can choose from seven concentrations to make up the six-credit difference.
Several courses include hands-on learning opportunities through simulations and case studies. At the completion of the program, students integrate all of the concepts and principles they learned during the program into a capstone course.
Mercer graduates can work as market researchers, financial analysts, supply chain analysts, or healthcare administrators. At the time of enrollment, most students are about 28 years old and have around five years of professional experience.
Mercer’s Affordability
The Mercer Office of Student Financial Planning provides assistance to students seeking ways to pay for their online MBA. Learners can apply for private and federal loans along with public and private aid.
Mercer’s MBA Specializations
Entrepreneurship and Innovation | Finance | Global Business | Healthcare Management | Integrative Business | Managing People and Change | Marketing
Admissions
- Process: Complete the application; send the $50 fee; send test scores, official transcripts, and a resume.
- Standardized Tests: GMAT or GRE
- Cost: $50
School Type: Private
Delivery Format: Online or hybrid
Location: Macon, GA
Graduation Rate: 66%
Cost For Affordable Online MBA Programs
An affordable online MBA is a cost-efficient way to provide this education. Not only can you choose programs that fit your schedule, but you can also participate in the same courses as on-campus students, receiving the same degrees and credits. Understanding what an affordable online MBA really means will help you narrow down your choice of schools and make for a better decision in the long run.
Most affordable online MBA degrees take an average of two years to complete. This may be longer for students who have to divide their attention among school, work, and family, or for those who enroll part time. Some schools give their students more flexibility in this regard by allowing them to take courses anytime. Online education enables degree-seekers to study at their own pace without having to commit a large amount of time at any one time.
A minimum of 120 credits is required in most programs, while some schools may require as many as 150 credits to graduate students with an MBA. One credit represents one hour of class time a week for one semester. In addition to the number of credits, it is also crucial to look at the intensity of courses and electives included in the program.
Admission policies for schools can vary, but most require GMAT or GRE scores, academic transcripts, personal statements, and references, along with multiple years of relevant professional experience. In addition, the number of supported concentrations and specializations continues to increase, giving online MBA students even more study options than before. Also, check out our guide on scholarship for business majors and cost of a masters degree here.
Specialized MBAs
Many online MBAs offer specializations, concentrations, or tracks that enable degree-seekers to zero in on their career objectives and many of the most affordable programs have these options as well. Specialized MBAs are useful in helping to identify the type of graduate degree program that will best fit within your niche. If you want to get an MBA but have specialized, niche job goals, these concentrations might be the option for you.
Business degrees offer students a well-rounded business and management education, but these programs often overlook specializations in individual fields. This is especially true for MBAs, as business schools collectively host dozens of different MBA specializations, but individual institutions typically offer about 5-8 options. Examples include common and traditional concentrations as well as innovative specialties reflecting emerging trends in modern commerce. Specialized MBAs provide business students with a specific set of skills or knowledge necessary to advance in their current organizations or related industries.
Traditional specializations include finance, international business, accounting, and supply chain management. More modern options examine technology management, big data and business analytics, and digital marketing, among others.
Popular Online MBA Courses
The specific courses included in each MBA program are determined by the school and degree’s orientation. Concentrated MBA programs, for example, cover specialized topics beyond the scope of a general MBA. Following are examples of courses that are commonly offered in general MBA programs:
The MBA Capstone or Thesis
Many MBA students find that they don’t have the opportunity to be challenged in a capstone project during their undergraduate degree programs. Capstone projects force students to synthesize critical concepts learned throughout the degree – providing a unique challenge for students looking to demonstrate mastery of the material they’ve learned.
The capstone or thesis project is an important milestone in the tenure of an MBA or a Master’s program. It usually examines focuses on the economy, finance, international business, health care, labor market, marketing, strategic management and/or global business issues.
Although both formats require extensive research and a thorough analysis of specific issues that professionals encounter in their careers, thesis projects usually apply theoretical concepts to an academic hypothesis and capstones maintain a more practical and pragmatic orientation. For example, capstones often ask students to formulate and articulate solutions to actual business problems and challenges.
Similar Programs
Factors To Make MBA Programs More Affordable
Prospective MBA students can decrease program costs by taking into consideration the following factors based on their personal goals.
- Required Travel: Whether you’re considering an on-campus learning environment or an online program, you may have to consider travel expenses. Some programs require participants to visit campus for orientation, immersion events, or residencies. Others offer remote opportunities; however, these do not provide the face-to-face time with staff and peers that in-person programs provide. In both instances, degree-seekers should weigh travel costs against the potential gains.
- Class Size: Smaller classes can offer more personalized attention and direct access to faculty, though programs with low student-to-faculty ratios tend to be more expensive. Candidates should determine their own learning style and whether they thrive in larger classes.
- Institutional Prestige: People with degrees from prestigious institutions are more likely to get high-paying jobs. But those educational investments come at a price. Attending a pricey Ivy League or Big Ten school can cost students tens of thousands of dollars in extra tuition over the course of their four-year degree programs.
- Online vs. On-Campus: The online MBA degree is intended for students who wish to work full-time while taking classes and building their business expertise. For students who want to attend graduate school but aren’t able to relocate to attend school, an online or distance learning program could be an excellent alternative.
Affordable Online MBA Programs No GMAT
The GMAT is just one of the admissions criteria for an online MBA degree. This test determines whether you have the tools to succeed in a rigorous graduate program that focuses on teaching you advanced business theories. However, many MBA programs do not require students to submit their GMAT scores during the application process.
This relieves the applicants some stress in the application process and saves them some money. The cost of preparing for a graduate school entrance exam, such as the GMAT, can be an extra financial burden due to the test fee itself and the expense of preparation.
Typically GMAT preparation books and practice tests cost around $50 and $30, respectively. The GMAT exam costs $250, and some students may need to take it more than once.
Financial Aid Options for an Online MBA Program
Even the cheapest MBA programs may require significant financial investment, and many students may need financial aid to help fund their degree. The following articles provide information about various sources of funding, tips on accessing financial aid, and an in-depth guide on the FAFSA.
FAFSA Guide
Graduate School Assistance Program – Deloitte
Intel Workplace Benefits
Tuition Assistance & Academic Support Program – Bank of America
How to Save Even More Money on Your Affordable MBA
Even after choosing an affordable MBA program available and taking advantage of financial aid options, learners can continue making money-saving choices. The following list describes the advantages of overloading your degree courses, choosing textbook alternates, and making loan payments while you are still in school to lower your total interest payments.
Careers & Scopes
According to the Graduate Management Admission Council, MBA graduates in the United States and overseas are in high demand. Currently, 77% of U.S. employers are seeking to hire more MBA graduates as of 2019, with a high concentration among Fortune 500 and other large corporations. Startup companies have also reported an increase in demand. With opportunities abroad rising, MBA graduates can enjoy a strong job market around the world. Check out our detail guide on salary of each specializations below:
MBA In Marketing Salary
MBA In Information Technology Salary
MBA in Healthcare Management Salary
MBA in Finance Salary
Additionally to job security, students should research potential salaries to determine how long it would take for their investment to return. The projected median annual salary for new MBA hires in 2019 is $115,000. When estimating their return on investment, students should consider their salary-to-debt ratio and their school’s graduate employment statistics.
MBA graduates have lucrative career opportunities in health management, technology, sales, and executive management. The following table shows median annual salary data related to common roles for MBA holders.
| Models | Career | Median Annual Salary |
|---|---|---|
| 1 | Administrative Services Managers | $96,940 |
| 2 | Advertising, Promotions, and Marketing Managers | $135,900 |
| 3 | Computer and Information Research Scientist | $122,840 |
| 4 | Computer and Information Systems Managers | $146,360 |
| 5 | Financial Analysts | $81,590 |
| 6 | Financial Managers | $129,890 |
| 7 | Management Analysts | $85,260 |
| 8 | Medical and Health Services Managers | $100,980 |
| 9 | Sales Managers | $126,640 |
| 10 | Top Executives | $104,690 |
FAQs About Affordable Online MBA Programs
How are online MBA programs accredited?
Accredited online MBA programs follow the same standards as in-person programs. Regional, national, and programmatic accreditation bodies set these standards. As regional accreditation ensures the highest standards in academics.
How long does it take to complete an online MBA?
Most online MBA programs can be completed in two years. Some programs offer an expedited program that allows students to graduate within the first year of full-time enrollment.
Is an MBA online worth it?
Yes. Graduates with accredited online MBAs are able to qualify for lucrative job opportunities, which pay well over the median annual income for their respective states.
How does accreditation affect affordability?
Accreditation indicates a quality MBA program. Some schools may offer cheap online MBAs, but their degrees carry less value. The costs of accredited programs may be higher at the outset, but their benefits will outweigh the costs.
Are online MBAs cheaper?
Online MBAs provide more affordable options for MBA students, as many schools allow online enrollees to pay in-state tuition or even lower prices. However, some schools do not differentiate, so students should always research tuition expectations before enrolling.