This ranking reveals a diverse range of online MBA programs, highlighting the increasing demand for flexible, accessible business education and the importance of cost considerations for prospective students.
As the demand for flexible and accessible business education continues to rise, online MBA programs have gained significant popularity among aspiring business professionals.
- Best Online MBA Programs of 2023 [by cost]
- Best Online MBA Programs Analysis
- Business Administration & Management Insights
In 2023, Poets&Quants conducted a comprehensive ranking of the best online MBA programs, considering various factors such as reputation, curriculum, faculty, and cost.
This ranking focuses on programs based on their cost, from lowest to highest. By examining the financial aspect of online MBA programs, prospective students can make informed decisions about pursuing an online MBA program that aligns with their budgetary considerations.
This year’s rankings showcase the success and achievements of various institutions in delivering high-quality business education in a flexible and accessible format.
Best Online MBA Programs of 2023 [by cost]
- Jack Welch Management Institute: $46,200
Next on the list is the Jack Welch Management Institute, providing an affordable option for those seeking an online MBA program. Named after the renowned business executive Jack Welch, this program emphasizes practical business skills and leadership development. Students can benefit from the institute’s extensive network and industry connections.
- University of Florida (Warrington): $59,808
Starting our list of the best online MBA programs of 2023 based on cost is the University of Florida’s Warrington College of Business. With a reasonable tuition fee, this program offers excellent value for money while delivering a high-quality business education. Students can expect a rigorous curriculum and access to experienced faculty members.
- Indiana University (Kelley): $82,158
Securing the top spot in our ranking of the best online MBA programs of 2023 based on cost is Indiana University’s Kelley Direct MBA program. With a reputation for consistency and excellence, Kelley offers an affordable online MBA program that delivers a comprehensive business education at a reasonable cost.
- University of Texas at Dallas (Naveen Jindal): $85,347 (for non-Texas residents)
The University of Texas at Dallas’ Naveen Jindal School of Management offers a competitive online MBA program at a relatively affordable cost for non-Texas residents. With a focus on innovation and technology, this program equips students with the skills necessary to succeed in the rapidly evolving business landscape.
- Santa Clara University (Leavey): $86,380
Santa Clara University’s Leavey School of Business provides an online MBA program that combines business fundamentals with ethical leadership and social responsibility. Despite its modestly higher cost, the program offers a well-rounded business education with a focus on sustainable business practices.
- University of Washington (Foster): $90,000
The University of Washington’s Foster School of Business is known for its commitment to excellence in business education. Although the program’s cost is slightly higher, students can expect a rigorous curriculum and access to a strong network of alumni and industry professionals.
- Rice University (Jones): $113,400
Rice University’s Jones Graduate School of Business offers an online MBA program that balances academic rigor with flexibility. While it may have a higher cost compared to other programs on this list, students benefit from the prestige and reputation of Rice University, which can enhance career prospects.
- University of Michigan (Ross): $131,000 (for non-Michigan residents)
The University of Michigan’s Ross School of Business, a renowned institution, debuts its online MBA program with a competitive price tag. Non-Michigan residents can gain access to the prestigious Ross brand and benefit from a comprehensive business curriculum.
- University of Southern California (Marshall): $119,822
The University of Southern California’s Marshall School of Business offers a reputable online MBA program at a higher cost. However, students can leverage USC’s extensive network and alumni connections, which can provide valuable career opportunities.
- Carnegie Mellon University (Tepper): $145,600
Carnegie Mellon University’s Tepper School of Business, a pioneer in online MBA education, provides a program known for its innovation and analytical focus. While it has one of the highest costs on this list, students can expect a cutting-edge curriculum and access to top-notch faculty.
Best Online MBA Programs Analysis
The rise in demand for flexible and accessible business education has led to the increased popularity of online MBA programs. The 2023 ranking by Poets&Quants provides a comprehensive analysis of these programs, focusing on factors such as reputation, curriculum, faculty, and cost. This focus on cost is particularly beneficial for prospective students, as it allows them to make informed decisions about pursuing an online MBA program that aligns with their budgetary considerations.
The ranking reveals a diverse range of institutions offering high-quality business education in a flexible and accessible format. The programs range in cost from $46,200 at the Jack Welch Management Institute to $145,600 at Carnegie Mellon University’s Tepper School of Business. Despite the wide range in cost, each of these programs offers unique benefits such as rigorous curriculums, experienced faculty, and extensive networks that can enhance career prospects.
The analysis of the Best Online MBA Programs of 2023 shows that Indiana University’s Kelley Direct MBA program has emerged as the top-ranked program, demonstrating its consistency and excellence in delivering a comprehensive business education at a reasonable cost. Other programs, such as the University of Southern California’s Marshall School of Business and Carnegie Mellon University’s Tepper School of Business, also maintain high rankings despite their higher costs, indicating the value of their extensive networks and innovative curriculums.
Significant movements in the rankings, such as the University of Texas at Dallas’s jump of 38 spots, highlight the dynamic nature of the online MBA landscape. These movements reflect changes in admissions standards, alumni outcomes, and other factors that contribute to the overall quality and reputation of these programs.
In the latest rankings of the Best Online MBA Programs for 2023, Indiana University’s Kelley Direct MBA program has emerged as the top-ranked program for the second time in the past six years. Kelley, a pioneer in the online space, launched its remote MBA program 22 years ago with only 14 students. With this achievement, Kelley becomes the second program to secure the top spot twice, joining Carnegie Mellon University’s Tepper School of Business. Last year, Kelley produced over 700 online MBA and master’s graduates, and although it dropped to fifth place in 2022, it reclaimed the top position this year, establishing its dominance in the rankings. Kelley’s program is estimated to cost $82,158, making it an attractive and affordable choice for prospective online MBA students.
Carnegie Mellon University’s Tepper School of Business secured the second position in this year’s ranking, maintaining its consistent performance over the past few years. Following closely is the University of Southern California’s Marshall School of Business, which dropped two spots from last year’s first-place ranking. Tepper and Marshall are among the most expensive online MBA programs, with Tepper’s total cost ranging from $109,200 to $145,600 depending on the accelerated option, while USC’s program costs $119,822.
The University of Michigan Ross School of Business’s online MBA program made its debut in fourth place, having launched in 2019 and recently graduating its first cohort. Michigan Ross’s prestigious reputation and outstanding performance propelled it to a stellar finish in the rankings. With a price tag of $120,000 for Michigan residents and $131,000 for non-residents, it is one of the more expensive options available.
Rice University’s Jones School climbed two spots to secure its highest-ever finish at fifth place in the rankings. Another notable performance came from the Jack Welch Management Institute, which rose four spots to achieve its highest-ever finish in sixth place. The University of Texas at Dallas made a significant jump of 38 spots to secure its highest-ever finish at seventh place, thanks to excellent admissions standards and strong career outcomes reported by its alumni.
The University of Washington Foster School of Business, Santa Clara University Leavey School of Business, and the University of Florida Warrington College of Business completed the top ten rankings, securing the eighth, ninth, and tenth positions, respectively.
Indiana Kelley’s consistent performance and dominant presence in the rankings have solidified its status as one of the top online MBA programs. With multiple No. 1 finishes and never placing outside the top five, Kelley has established itself as a leading program. Boasting an enrollment of over 1,500 students and a selective acceptance rate of 35%, Kelley is one of the largest and most prestigious online MBA programs worldwide. The program’s average GMAT score for the past year’s cohort was 675, with an average undergraduate GPA of 3.4. Students in the program have an average work experience of ten years, and the program typically takes 27 months to complete.
While Kelley, Carnegie Mellon, and USC have consistently remained at the top of the rankings, other schools have witnessed significant movements. The University of Texas at Dallas emerged as the biggest winner, leaping 38 places in the rankings. Stellar admissions standards and positive career outcomes reported by alumni contributed to UT-Dallas’s rise. The University of Michigan-Dearborn experienced the next highest gain, jumping 25 spots to secure the 24th position. The University of Nebraska-Lincoln, University of Massachusetts-Lowell (Manning), and the University of Florida (Warrington) also achieved double-digit gains in this year’s rankings.
On the other end of the spectrum, Louisiana State University (Ourso) experienced the largest fall, dropping 24 spots due to a lack of alumni data for this year’s ranking. Worcester Polytechnic Institute fell 21 spots, while the University of Utah (Eccles) dropped 18 places.
When considering an online MBA program, cost is a crucial factor for many prospective students. This ranking of the best online MBA programs of 2023 based on cost provides valuable insights into the financial aspect of pursuing a business education. Remember to weigh the cost alongside other important factors such as program reputation, curriculum, and career outcomes to make an informed decision that aligns with your goals and budgetary considerations.
The 2023 ranking of online MBA programs provides valuable insights for prospective students. While cost is a significant consideration, it is important to also consider other factors such as program reputation, curriculum, and career outcomes. By doing so, students can make informed decisions about which online MBA program best aligns with their goals and budgetary considerations.
Business Administration & Management Insights
Concentration of Degree Recipients
- In 2021, the locations with the highest concentration of General Business Administration & Management degree recipients are:
- Tempe, AZ
- New York, NY
- South Hooksett, NH
- The most common degree awarded to students studying General Business Administration & Management is a bachelor’s degree.
Degrees Awarded in 2021
- Total degrees awarded in 2021: 353,401
- Growing at a rate of 2.97%
- Median in-state public tuition: $6,750
- Growing at a rate of 4.09%
- Median out-of-state private tuition: $30,625
- Growing at a rate of 1.69%
- Average wage for General Business Administration & Management: $93,362
- Growing at a rate of 1.76%
- People in the workforce in this field: 11.2 million
- Growing at a rate of 2.34%
- Average employee age: 43.8
- Growing at a rate of 0.208%
- California Institute of Advanced Management and Oak Valley College have the highest percentage of degrees awarded in General Business Administration & Management.
- University of Phoenix-Arizona (484613) awards the most degrees in General Business Administration & Management in the US.
- The most common sector offering General Business Administration & Management programs is Private not-for-profit, 4-year or above institutions (918 total).
- The most common sector by number of degrees awarded is Public, 4-year or above (155,508 completions).
Tuition Costs for Common Institutions
- University of Phoenix-Arizona (484613) has the most General Business Administration & Management degree recipients, with 11,375 degrees awarded in 2021.
- California Institute of Advanced Management and Oak Valley College have the highest concentration of degrees awarded in General Business Administration & Management, with 100%.
Degrees Awarded by County
- Counties with the most degrees awarded in General Business Administration & Management include Maricopa County, AZ; Los Angeles County, CA; and Orange County, CA.
Growth in Awarded Degrees
- Counties with the fastest-growing number of degrees awarded in General Business Administration & Management include Yavapai County, AZ; Windham County, VT; and Windham County, CT.
- Average salary for Business majors: $93,362
- Most common occupations: Accountants & auditors, Other managers, and Financial managers.
- The industry that employs the most Business majors is Elementary & secondary schools.
- The highest paying industry is Securities, commodities, funds, trusts & other financial investments.
- Most common degree type for General Business Administration & Management workers: Bachelor’s Degree
- Female employees are more likely to hold degrees in this field.
- The most common race/ethnicity group awarded degrees in Business is White.
- Average age of individuals in the workforce with a degree in Business: 43.8.
- Necessary skills for General Business Administration & Management majors:
- Critical Thinking
- Management of Financial Resources
- Management of Material Resources
- Management of Personnel Resources
- Operations Analysis
- Systems Evaluation
- Systems Analysis
- Time Management
- Operation Monitoring
- Quality Control Analysis
- Complex Problem Solving
- Learning Strategies
- Judgment and Decision Making
- Active Listening
- Social Perceptiveness
- Reading Comprehension
- Active Learning
- Service Orientation
- Operation and Control
- Technology Design
- Equipment Maintenance
- Equipment Selection