Whether seeking to start a new career in business, or to climb the ladder within an already established career, earning an MBA degree may make good career and financial sense. According to a 2011 research survey by The Graduate Management Admission Council, 2010 MBA graduates had a median starting salary of $78,820. The median salary for all MBAs surveyed was $94,542, with an additional $17,565 in bonus compensation. Moreover, nearly 9 in 10 (88%) of 2010 MBA graduates had jobs immediately upon graduation, with hiring prospects expected to improve even more in coming years.

Advantages of Online MBA Programs

Traditional full-time MBA programs come with numerous hidden costs, including at least two years of lost income, experience, visibility, and possible promotions, not to mention major sacrifices in personal and family life. This is why many people choose to pursue their MBA online. With an online MBA program it isn’t necessary for an individual to sacrifice work or family in order to achieve their dreams and improve their quality of life.

The Variety of Online MBA Programs

The quality, status, and popularity of online MBAs continues to rise, with more and more highly ranked business schools offering online business degrees every year. But not all online business degrees are the same. Not only do online MBA’s come in a variety of formats, but their quality and prestige vary widely as well. That is why it’s important to make a thorough investigation of the many different online MBA programs available before making such an important decision and investment.

Online MBA Program Rankings

Our list of the 25 best online MBAs is the place to begin that investigation. While no ranking system is able to substitute for personal judgment about what program is best for an individual student, we offer one of the most comprehensive, thoroughly researched, and up-to-date listing of what we consider the very best accredited online MBA degrees as a helpful starting point for prospective students. These programs have been analyzed and ranked according to their perceived prestige (awards, rankings, reputation), academic quality, and affordability.

#1. Colorado State University, College of Business (Fort Collins, CO)

Executive Summary – A very flexible and affordable degree from a respected school that doesn’t require travel.

Rankings: #15 Best Online Colleges, The Best Colleges (2011); Top 40 Online MBA, Princeton Review (2010); #41, Best Buy Online MBA, GetEducated (2009).

Program: The Distance MBA comes in two year and four year formats, with up to five years allowed for completion. Both formats require summer courses. Though identical to the on-campus degree, no thesis, final project, or comprehensive exam is required. Four credits of electives allowed and a certificate in finance may be earned with some additional course work. No residency or campus visits required.

Admissions: Bachelor’s degree and at least four years of professional experience. GMAT may be waived with 3.0 GPA and at least 8 years work experience. Application deadlines are December 8 for spring, July 15 for fall.

Click here to learn more about online degree programs at Colorado State University

 

#2. Northeastern University, College of Business Administration (Boston, MA)

Executive Summary - An extremely flexible and individually tailored degree from a respected business school with no required travel.

Rankings: #5 Online Colleges, The Best Colleges (2011); #56 Business School, BusinessWeek (2010); #62 Business School, U.S. News & World Report (2010).

Program: The Online MBA Program is a two year program with specializations available in Finance, Healthcare Management, High Technology Management, Innovation Entrepreneurship, International Management, Marketing, Operations and Supply Chain, and General Management. Five electives are allowed for even greater individual tailoring.For an additional four credits students can earn a Master of Science in Finance in addition to their MBA. No campus visits required.

Admissions: Rolling and competitive with nine different start dates. Bachelor’s degree with 3.0 GPA and five years of professional experience required. No GMAT required.

Click here to learn more about online degree programs at Northeastern University

#3. Regis University, College for Professional Studies, School of Management (Denver, CO)

Executive Summary – A quick, flexible program at a great value with numerous specializations and a strong social justice/ethics emphasis.

Rankings: #14 Best Online College, The Best Colleges (2011).

Program: The External MBA Online can be completed in 20-28 months in a fully online or blended format. The program has a strong social justice and ethics emphasis and specializations in Finance & Accounting, Health Industry Leadership, Health Systems Management, Management, Marketing, Operations Management, Strategic Management. Class sizes are limited to 15. No travel required.

Admissions: Mildly competitive rolling admissions with six start dates throughout the year. Bachelor’s degree and GMAT (or GMAT Alternative = 2 formal essays) required.

Click here to learn more about online degree programs at Regis University

 

#4. Arizona State University, W. P. Carey School of Business (Phoenix, AZ)

Executive Summary - One of the top public business schools in the U.S. offers a very good degree at an excellent value.

Rankings: #10 Best Value MBA in U.S., BusinessWeek (2011); #13 Business School, Wall Street Journal (2010);#27 Business School, U.S. News & World Report (2010).

Program: The Online MBA is a two year degree and uses the same curriculum and faculty as the on-campus MBA. Students are assigned to cohort and proceed one course at a time, allowing for more in-depth focus. Emphases are available in Finance, International Business, Marketing, and Supply Chain Management. Only one campus visit required.

Admissions: Competitive. Bachelor’s, GMAT, and two years work experience required. May 1 (March 1 early) deadline for July start.

Click here for more information about online degree programs at Arizona State University

 

#5. The University of Florida, Hough Graduate School of Business (Gainesville, FL)

Executive Summary – A quality program with an excellent reputation at a great price.

Rankings: #1 (tie) Distance Learning MBA, The Economist (2010); #2 U.S. Best Value MBA, Financial Times (2011); #9 Recruiter’s Choice, Wall Street Journal (2010); #28 Business School, U.S. News & World Report (2011).

Program: In addition to the standard two year program, the Internet MBA comes in an accelerated 16 month format for those with an undergraduate business degree earned in the last seven years. Both programs require one weekend campus visit per four month term.

Admissions: The Internet MBA is the most competitive of all the business programs at The University of Florida, with numerous applicants from all over the world competing for 65 spots. An accredited bachelor’s degree in any subject required for the two-year program, a bachelor’s in business for the accelerated. Both programs at least two years professional experience and the GMAT. Admissions are made on a rolling basis.

Tuition: $47,150 for standard program, $41,400 for accelerated. Books, room, board, and travel are not included with tuition, but all students receive an Apple iPad.

 

#6. EI Business School (Madrid, Spain)

Executive Summary – An excellent program, especially for those interested in international business, from one of the premier international business schools in the world.

Rankings: #1 (tie) Distance Learning MBA, The Economist (2010); #3 International MBA, BusinessWeek (2010); #6 Global MBA, Financial Times (2011); #24 International Business School, Wall Street Journal (2010).

Program: The Global MBA Online is offered in both English and Spanish formats. The program is 15 months long and requires two week long residencies in Madrid. Offers a very diverse student body and the opportunity to develop international network of contacts. Follows a case study approach using asynchronous online sessions, live interactive video sessions on weekends, and blended sessions.

Admissions: Admissions are rolling, but very competitive. Bachelor’s degree and GMAT or IE Admissions Test required. Professional experience preferred, but not mandatory.

Tuition: 37200 Pounds=~$50350. Does not include books, travel, room or board.

 

#7. Indiana University, Kelley School of Business (Bloomington, IN)

Executive Summary – Great flexibility and affordable tuition from one the best business schools in the U.S..

Rankings: #2 (three way tie) Distance Learning MBA, The Economist (2010); #8 Best Professors, Princeton Review (2011); #23 Business School, U.S. News & World Report (2010); #19 Business School, BusinessWeek (2010).

Program: The Kelley Direct Online MBA can be completed in as little as two years and as many as five years, depending on the student’s individual need and preference. The program is focused on general administration, with 9 hours of electives for more personalized tailoring. All classes are asynchronous, so no set times to be online. Some campus visits required, including orientation at beginning of program.

Admissions: Admissions are very competitive. Bachelor’s degree and GMAT required. At least two years professional experience preferred, but not required. Program begins each fall, with a June 15 application deadline.

Tuition: $54,111. Books and travel costs not included.

 

#8. Thunderbird School of Global Management (Glendale, AZ)

Executive Summary - A top-quality MBA degree with great flexibility and opportunities for international experience, all at a great value.

Rankings: #1 International Business, The Financial Times (2010); #1 International Business, U.S. News & World Report (2010); #2 (tie) Distance Learning MBA, The Economist (2010); #3 Business School, Wall Street Journal (2010).

Program: The Distance Learning MBA is available in 19, 28, and 36 month formats. Three-quarters of the program is online (asynchronous), with the remaining quarter administered through regional business seminars around the world ( including Beijing, China, Geneva, Switzerland, and Santiago, Chile). Program emphases are available in World Business, International Studies, and Cross-Cultural/English Business Communication.

Admissions: Rolling, but very competitive. Bachelor’s degree (or equivalent) and GMAT required.

Tuition: $66,800. Includes books and room and board for orientation, international study, and graduation. Travel fare not included.

 

#9. The University of North Carolina, Kenan-Flagler School of Business (Chapel Hill, NC)

Executive Summary – The brand new program from one of the top ranked business schools in the U.S. is not as pricey as it looks initially when you consider everything that’s included with tuition.

Rankings: #10 Business School, Wall Street Journal (2010); #15 Entrepreneurship, Princeton Review (2011); #16 Business School, BusinessWeek (2010); #21 Business School, U.S. News & World Report (2010); #40 Business School, The Economist (2010).

Program: The first class of the brand new MBA@UNC will start in the fall of 2011. The program can be completed in 2-3 years. Utilizes a blend of synchronous and asynchronous formats, with weekly online face-to-face interactions with faculty and classmates. Two weekend residencies at various locations around the globe required, with four total allowed and included in tuition. No electives or concentration available at this time.

Admissions: Competitive, rolling admissions with quarterly intakes (July, October, January, April). Two years of professional experience, bachelor’s degree, and GMAT or GRE required.

Tuition: $89,000 inclusive of the entire program, including all books, materials, room and board for four immersion weekends.

 

#10. The University of Maastricht, School of Business and Economics (Maastricht, Netherlands)

Executive Summary – A well respected, reasonably priced international program with an emphasis on European business.

Rankings: #2 (tie) Distance Learning MBA, The Economist (2010); #20 Online MBA, Financial Times (2010).

Program: The Euro*MBA is a two-year program collaboratively offered by six of the top business schools and universities in Europe, drawing a global student body and faculty. The program is administered by University of Maastricht Business School in the Netherlands. Special focus on European business and management focus. A four day orientation and six residential weeks in various European locations required.

Admissions: Moderately competitive. An average of 35 applicants admitted per year. Bachelor’s degree (or equivalent) and five years of professional experience required. GMAT not required. July 15 deadline for September intake; November 15 for January intake.

Tuition: EUR 26,500=~$36,069. Covers all course materials and tutoring. Required international travel and boarding (EUR 800-900/$1088-1224 a week) not included.

 

#11. Babson College, F.W. Olin Graduate School of Business (Babson Park, MA)

Executive Summary – Great program, especially for entrepreneurs, but pricey, especially when cost of books and travel are factored in.

Rankings: #1 Entrepreneurship, Princeton Review (2011); #39 Business School, BusinessWeek (2010); #54 Business School, U.S. News & World Report (2010).

Program: The Fast Track MBA is a two year program with an entrepreneurial leadership focus and an experience and team based approach. Weekend face-to-face meetings every six weeks required, meeting either at Babson or a satellite in San Francisco, California. Four electives allow some personal tailoring of the program, which terminates with a final capstone project.

Admissions: Admissions are rolling and competitive, with March and October start dates. Bachelor’s degree and GMAT or GRE required.

Tuition: $73,500. Books and travel costs not included.

#12. Duke University, Fuqua School of Business (Durham, NC)

Executive Summary – A prestigious degree that guarantees exposure to a variety of international business contexts and networks, but outrageously expensive with more than the average amount of traveling.

Rankings: #6 Business School, BusinessWeek (2010); #14 Business School, U.S. News & World Report (2010); #20 Global MBA, Financial Times (2010); #28 Business School, The Economist (2010).

Program: The Global Executive MBA is designed for senior global executives and managers. The 15 months program involves five residencies, two in Durham, NC, and the rest in London & St. Petersburg, Dubai & New Delhi, Shanghai & Singapore. Four electives allow for personal tailoring of the degree, as well as an optional 2-course independent project in one of six concentrations (Energy & Environment, Entrepreneurship & Innovation, Finance, Marketing, Strategy, Health Sector Management).

Admissions: Rolling and very competitive. GMAT not required, but a bachelor’s degree and at least 10 years work experience with current or pending global responsibilities.

Tuition: $146,600. Includes books, materials, lodging and food, but not travel costs.

 

#13. Penn State World Campus (College Township, PA)

Executive Summary – An excellent program at a reasonable cost that doesn’t require professional experience.

Rankings: #1 Online College, The Best Colleges (2011);#44 Business School, BusinessWeek (2010); #48 Business School, U.S. News & World Report (2010); #56 Business School, The Economist (2010).

Program: The iMBA is a two year program with two one-week required residencies. Students enter and stay with the same cohort througout program, taking the same classes at same time, though classes are offered asynchronously.

Admissions: Bachelor’s degree and GMAT or GRE required. Two years of professional experience preferred but not required. May 1 deadline (March 1 early) for Fall cohort; October 1 (July 1 early) for Spring cohort. Preference is given to early deadline applications.

Tuition: $54,760. Includes books, fees, room and board.

 

#14. Drexel University, Lebow College of Business (Philadelphia, PA)

Executive Summary - A good school with an excellent reputation, particularly in academic quality and entrepreneurship, but fairly expensive.

Rankings: #3 Entrepreneurship, Princeton Review (2011); #3 Business School, Entrepreneur Magazine; #10 part-time MBA businessweek; #11 Online College, The Best Colleges (2011); Excellence in Institution-Wide Online Education Award, Sloan Consortium (2010).

Program: The MBA Anywhere is a two year degree, with specializations in Marketing, Finance, Engineering Management, and Entrepreneurship. It uses a cohort format, with 25-30 per cohort. Three 4-day on-campus residencies recommended, but only one is required.

Admissions: Rolling and moderately competitive. Bachelor’s degree with 3.0 GPA or higher and GMAT or GRE required. Fall and spring semester intakes.

Tuition: $58,000. Does not include books, room, board, or travel.

 

#15. Warwick Business School, The University of Warwick (Coventry, UK)

Executive Summary - An excellent degree with a high degree of flexibility and reasonable tuition.

Rankings: #1 Distance Learning MBA in the UK, The Economist (2010); #10 Best Value MBA, Financial Times (2010).

Program: The Distance Learning MBA program is self-paced, completed in 2-5 years. Six electives allow for significant tailoring. Consultancy project and dissertation to be completed at end of program. Between 2-4 on-campus seminars required, depending on curriculum path chosen. Optional 5-day international module available.

Admissions: Bachelor’s degree (or equivalent), GMAT, and at least four years professional work experience required.

Tuition: 6200 Pounds=~$10,062 a year. Books included, but not room, board or travel costs.

 

#16. Carnegie-Mellon, Tepper School of Business (Pittsburgh, PA)

Executive Summary – A quality and respected program, but the cost and company-based approach put it out of reach for many.

Rankings: #15 Business School, BusinessWeek (2010); #16 Business School, U.S. News & World Report (2010); #21 Business School, The Economist (2010); #34 Global MBA, Financial Times (2010).

Program: The FlexMode Distance Learning MBA is a three year program delivered at company sites in the U.S. through real-time video conference. Prospective students must get their company to sponsor the program, which requires at least six students. Interested students can schedule a presentation at their company by a Carnegie-Mellon representative. One on-campus orientation weekend required. Optional on-campus seminars each January for more intensive face-to-face study.

Admissions: Bachelor’s degree and GMAT required..

Tuition: $81,936. Does not include books, room, board, or travel.

 

#17. Syracuse University, Whitman School of Management (Syracuse, NY)

Executive Summary – An excellent, if somewhat expensive, program that doesn’t require the GMAT.

Rankings: #12 Entrepreneurship, Princeton Review (2011); #59 Business School, U.S. News & World Report (2010).

Program: The iMBA is a three year program with concentrations available in Accounting, Entrepreneurship, Finance, Marketing Management, and Supply Chain Management. Classes are delivered in an asynchronous format. Three electives allow for individual tailoring. One week residencies required three times a year.

Admissions: Selective. Bachelor’s degree and five years of full-time professional experience required. GMAT not required. July 1 and November 1 deadlines for fall and spring starts.

Tuition: $62,748. Does not include books, travel, room, or board.

 

#18. The University of Manchester, Manchester Business School (Manchester, UK)

Executive Summary – An outstanding program with a reputation for academic rigor that offers rare specializations in engineering, construction, and sports business.

Rankings: #5 Best Return on Investment, Forbes (2009); #11 Global MBA, Financial Times (2010); #15 Best MBA’s, MBA Career Guide (2009); #61 Global MBA, The Economist (2010).

Program: The Online Global MBA is normally completed in 3-5 years, with an accelerated 2 year option also available. Specializations in Finance, Engineering, Construction, Sport and Major Events. Face-to-face induction course at Manchester or another global location required, followed by two intensive face-to-face sessions every six months. Three electives for individual tailoring.

Admissions: Competitive. Bachelor’s degree (or equivalent) and three year of professional experience required. No GMAT required, though may be requested in some circumstances. May 21st application deadline.

Tuition: 22000 Pounds=~$35490. Does not include books, room, board, or travel costs.

 

#19. The Florida State University, College of Business (Tallahassee, FL)

Executive Summary – A solid program with no required travel and an extremely good value if you are a Florida resident or can get the special tuition supplement for out of state applicants.

Rankings: #8 Best Online College, The Best Colleges (2011) #32 Best Buy Online MBA, GetEducated (2010); #75 MBA Program, U.S. News & World Report (2011).

Program: The Online MBA is a 28 month program with specializations in Marketing, Management Information Systems, Real Estate, Risk Management and Insurance. No campus visits required.

Admissions: Moderately competitive. Bachelor’s degree and GMAT required. Professional experience not required. March 1, June 1, and October 1 deadlines for summer, fall, and spring intakes.

Tuition: $20,656 in state/$45,277 out of state. Does not include books. Some out of state students qualify for special tuition supplement that will cover out of state costs, bringing tuition to in state level.

 

#20. The University of Massachusetts, Isenberg School of Management (Amherst, MA)

Executive Summary – A very flexible and respected program at a great price.

Rankings: #6 Part-Time MBA (Northeast), BusinessWeek (2009); #9 Greatest Opportunities for Women, Princeton Review (2011); #13 Best Online College, The Best Colleges (2011); Excellence in Institution-Wide Online Education, Sloan Consortium (2005).

Program: The Online MBA allows students to take as few or as many courses per semesters as desired and is typically completed in 2.5-5 years. Courses are asynchronous and taught by the same faculty as the on-campus MBA. Three electives allow for some tailoring of degree. No campus visits are required, though students can take “live” courses if live near a UMass sattelite campus.

Admissions: Moderately competitive. Bachelor’s degree and GMAT or GRE required. Three or more years of professional experience preferred. Application deadlines are July 1 for fall, December 1 for spring, May 1 for summer.

Tuition: $27930. Books not included.

 

#21. Worcester Polytechnic Institute, WPI School of Business (Worcester, MA)

Executive Summary – An innovative and rising program with a strong technology and entrepreneurial focus.

Rankings: #1 Part-Time MBA, BusinessWeek (2009); #5 Greatest Opportunities for Women, Princeton Review (2011); #10 Entrepreneurship, Entrepreneurship Magazine (2010); #82 Best Business Schools, U.S. News & World Report (2010).

Program: The Blended Cohort MBA can be completed in 2.5 years. All courses are taught from a technological perspective and utilize a hands-on, experiential approach. Concentrations are available in Entrepreneurship, Information Security Management, Information Technology, Operations Management, Process Design, Supply Chain Management, Technological Innovation, and Technology Marketing. Three residency Saturdays and two 2-hr. synchronous web sessions per semester are required. Thesis and directed study options are available.

Admissions: Competitive. Bachelor’s degree and GMAT required. Application deadlines are July 1 for fall and October 1 for spring.

Tuition: $55,632. Books, room, board, and travel costs not included.

 

#22. The University of Texas at Dallas, School of Management (Dallas, TX)

Executive Summary – A respected and very flexible program with lots of electives and not travel requirements, but pricey for non-residents.

Rankings: #41 Part-Time MBA, U.S. News & World Report (2011); Top 40 Online MBA, Financial Times (2010); #49 MBA Program, U.S. News & World Report (2009).

Program: The Global MBA Online is self-paced and taught by the same faculty as the on-campus full time MBA. A full 24 hours of electives allow for enormous flexibility in tailoring the degree to particular interests and needs. No residencies or campus visits required.

Admissions: Moderately competitive. Bachelor’s degree and GMAT or GRE required. Application deadlines are July 1 for fall, November 1 for spring, April 1 for summer.

Tuition: $41564 for residents/$65923 non-residents. Books and course materials not included.

 

#23. Oklahoma State University, Spears School of Business (Stillwater, OK)

Executive Summary – One of the pioneers of the online MBA offers a solid degree at a good value with no travel or work experience required.

Rankings: #2 Best Buy Online MBA, GetEducated (2010); #89 Business School, U.S. News & World Report (2010).

Program: The Distance Learning MBA is a 36-48 credit hour program with 15 credit hours of electives. There are no required residencies or campus visits, but a mix of online and on-campus courses is an available option.

Admissions: Moderately competitive. Bachelor’s degree with 3.0 GPA and GMAT required. Work experience not required, but preferred. Application deadlines are July 1 for fall, November 1 for spring.

Tuition: $14,832 resident/$37,152 non-resident. Books not included.

 

#24. The University of Texas at San Antonio, College of Business (San Antonio, TX)

Executive Summary – A respected and extremely flexible program at a great price with no travel requirement.

Rankings: #1 Best Business Schools for Hispanics, Hispanic Business Magazine (2009); #28 Flex MBA, BusinessWeek (2010); #31 Best Value MBA, GetEducated (2009); Excellence in Distance Learning, U.S. Distance Learning Association (2001).

Program: The MBA Online in General Management is UTSA’s version of the University of Texas Consortium Online MBA, which pools together faculty and resources of eight UT-system schools. The degree is self paced, taking 2-5 years to complete. Students may take as many or as few classes a semester and can even can step out of program for up to 2 years without having to reapply. Students can also switch back and forth between full-time and part-time. No campus visits required.

Admissions: Bachelor’s degree and GMAT or GRE required. Application deadlines are July 1 for fall, November 1 for spring.

Tuition: ~$14,000 resident/~$36,000 non-resident. Books not included.

 

#25. University of Maryland University College, Graduate School of Management & Technology (Adelphi, MD)

Executive Summary – An affordable award winning degree with no travel and minimal admissions requirements.

Rankings: Outstanding eLearning Program Award (Online MBA), Instructional Technology Council (2010); Distance Program of the Year (Online MBA), IMS Global Learning Consortium (2009); Most Outstanding Online Teaching & Learning Program Award (Online MBA), Sloan Consortium (2005).

Program: The Online MBA is a two year program administered in cohort format. Several dual degree options are available. No campus visits are required.

Admissions: Mildly competitive. Bachelor’s degree required. No GMAT or professional experience required.

Tuition: $29,148. Books not included.