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America’s Top Online MBA Programs In 2024
[Updated February 2024] To increase your professional network, enhance your professional prospects and pursue a position in business, going back to school for an online MBA can be a great choice that provides flexibility. An MBA is a flexible degree that is applicable to most industries and gives you the skills you need for a range of upper management positions. No wonder more than 790,000 students apply for this program yearly and over a million get enrolled in business school at any given time.
An online MBA is an ideal option for you because it allows you to continue with your day job without having to relocate. This means that you can set your own learning schedules, whether it’s on the weekend mornings or during lunch breaks at work. An online MBA is meant to be a convenient way to learn but it is just as rigorous as its on-campus counterpart.
One thing that will cross your mind once you have decided to apply is what are the best online MBA programs in 2024. Since there are so many MBA programs, it only makes sense to find one that matches your professional and personal interests. Maybe you just want to know about the top five but the more choices the better.
Top 5 MBA programs in 2024
| School | TopFiveMe.com Rank | Time to Graduate | $$ per Credit | Credits to graduate | Total Cost |
|---|---|---|---|---|---|
| Carnegie Mellon University (Tepper) | 1 | 2.5 years | $1,998 | 64 | $127,872 |
| Indiana University--Bloomington (Kelley) | 2 | 3 years | $1,330 | 51 | $67,830 |
| Arizona State University (Carey) | 3 | 2 years | $1,216 | 49 | $59,584 |
| Auburn University (Harbert) | 4 | 2.5 years | $875 | 39 | $34,125 |
| Wisconsin MBA Consortium | 5 | 2.5 years | $675 | 30 | $20,250 |
Carnegie Mellon-Tepper School of Business – Online MBA Program
The curriculum is focused on leadership and analytics taught during weekly live sessions by the same faculty who teach full-time students. It offers you the opportunity to network with other MBA students and alumni and it provides a perfect way to build professional connections that could help you in the future. Classes take place twice a week and last for 70 minutes each and there is offline content in each class that you can complete at your own pace.
Indiana- Kelley School of Business – Online MBA Program
Kelley offers a rigorous program that is flexible and provides a platform where students can engage with each other and work in virtual teams. All live weekly sessions are recorded to allow you to watch them on your schedule. Professors create virtual markets that you can influence with your decisions.
Arizona State (Carey) – Online MBA Program
They offer one core course at a time and flexible elective and concurrent degree options to allow you to focus on your studies while managing your career and life.
Auburn (Harbert) – Online MBA Program
They offer degree programs in accountancy, business analytics, and supply chain management. Their online programs are flexible and blend traditional instruction with modern technology.
Wisconsin MBA Consortium – Online MBA Program
Classes are held during a semester timeframe and assignments have weekly deadlines. They use the Desire2Learn (D2L) program through which you get updates from your instructor, find your syllabus, video files and more.
What to expect from an online MBA Program
You are probably browsing through America’s Top 20 best online MBA Programs in 2024 list because you are interested in succeeding in corporate environments. Let’s look at some courses that you will encounter with online MBA programs:
Personal branding
Here you will learn how to market yourself to improve brand identity and how to build content that shows how highly skilled you are as a professional.
Seminar in Accounting
You will learn how to use financial projections to make decisions and techniques used in accounting for organizations.
Operations/Production management
If you want to learn and understand issues in manufacturing, linear programming, scheduling, materials management, and quality control then this is the course for you. You will also get to learn about multicultural and international issues in computer-assisted design and manufacturing.
Economics for business firms
You will study many theories about demand, production, market structure, and strategic pricing theories. This is meant to help when you are in an industry that specializes or applies knowledge based on consumer behavior analysis.
Within the MBA program, you will be provided with a number of MBA concentrations or specializations and will be expected to pick one to focus on. Below are some typical MBA concentrations:
- Executive: Select this if you want to pursue a career in commercial energy.
- Health Care: Perfect if you are interested in clinical leadership, health analytics, health informatics, innovative approaches to industry challenges and the relationship between quality and cost.
- Marketing: Prepares you for roles in advertising, branding, market research, product management, and digital media.
- Finance: If you are interested in working in financial management institutions, hedge funds, banks and other organizations that require nuanced knowledge of financial issues.
- International: In addition to courses in core subjects like finance and marketing, students are introduced to the monetary markets, business trends, regulations and laws that drive the globalized economy. They also leave with enhanced cultural awareness.
Online MBA Programs – How to pick the best one for you
America’s top 20 best online MBA programs in 2024 offer you great chances of improving your career, but you can’t just cover your eyes and pick one randomly. These programs are not all designed in the same way and the business schools that offer them are very competitive. Here is how you can pick one that suits you:
Accreditation for MBA programs
Only trust a school that has received national or regional accreditation because they adhere to standards articulated by outside learning commissions. Accredited business schools not only offer quality academics but also allow you to access federal student loans and grants.
Admissions
Elite business schools like Harvard or Stanford accept less than 11% of all applicants but mid-ranked business schools tend to admit a third to half of the applicants. Before you are admitted you will have to present things like letters of recommendation; proof that you completed a Bachelor’s degree from an accredited institution; work experience and more.
Business School Rankings
Consider the school’s rank as you target an MBA program. Also, consider the criteria used by the list-maker before you apply. You can look at Rankings on Bloomberg Businessweek, The Economist, U.S. and News & World Report. Their criteria include things like employer survey, student survey, student engagement and more. Each list-maker has its own set of criteria.
Faculty & Resources
The online MBA faculty should be just as good as or better compared to a school’s on-campus programs. Make sure that the professors hold equivalent degrees and find out what professional journals have published their work. You should also look at their track records in the industries they teach about.
Program Length
Each online MBA program schedule varies as far as the length of time it takes from matriculation to graduation is concerned. On average most last up to 20 months but there are some than only take 10 months.
Cost of online MBA
MBAs are known for being costly so you can see why the average cost for such programs is $28,840 annually. But there are several options for funding your degrees like scholarships and grant funding from various foundations or organizations. You may also take loans to fund your MBA. You will need to fill out the Free Application for Federal Student Aid to qualify for federal student aid.
Before you set out applying for an online MBA remember:
- The curriculum is only meant for experienced professionals who want to keep working
- Many of these programs combine online and face-to-face on-campus learning while a few are 100 percent online
- Requirements for executive MBAs vary. For instance, some business schools do not require interviews for online EMBAS
Online MBA Programs Conclusion
We believe that Carnegie Mellon-Tepper School of Business has the best Online MBA program because of the prestige and depth of the course offerings. For those looking to go the executive route and want the best but need to stay flexible, this online MBA program will be the best for you.
Despite that, we know that all of you do not want to pay a hefty cost to get an MBA. The whole point of doing it online is to help you save money and time on things like commuting to class and taking classes during non-business hours! If you are looking to get a great education without breaking the bank and going into a lot of debt, the Wisconsin MBA Consortium is best for you.
As you research online for America’s Top 20 best MBA programs in 2024, try to define your must-haves for a program and ask questions. Also, visit the campus to interact with the students and the professors before you apply.
Good luck as you apply!
