If you have a desire to be your own boss, and you enjoy problem-solving, then a Master’s in Business Administration just might be your ticket to success. Entrepreneurship is more than just launching a company, however. A company must be managed and developed in order to survive and grow. The more you know about human resource management and business law, for instance, the more essential you’ll become to any business, not just your own. Over the past few years, as schools of business have recognized the demand for on-hands training in the field, entrepreneurship programs have multiplied. The best schools stress the need for practical skills taught by excellent instructors coupled with the benefits of networking, collaboration, and team-building. The educational advantages you’ll gain with an advanced degree will be invaluable, but you’ll also earn a higher salary. The Bureau of Labor Statistics reported in 2013 that the median annual wage for a marketing and sales manager with a bachelor’s degree was $80,000, while the same wage for a holder of an MBA was $110,000.
Even if you feel the need to return to school, it may be that you’re already working in a managerial position, and “breaking away” to attend classes would be difficult. In this case, consider the appeal of online schools. Some of them require short residencies and may offer opportunities to study abroad, but many offer 100% online degree programs. Instead of fighting traffic to go and sit in a brick-and-mortar institution, you will study at your own pace in your own comfortable surroundings. Your professors will be the same, and your degree will be the same, as if you’d traveled to a traditional college or university.
To simplify your quest for an online MBA in entrepreneurship, the following schools have been researched and evaluated. Charts for ranking are shown, and the charge per credit hour is for out-of-state unless noted otherwise.
US News Online Graduate Entrepreneurship Ranking:
- Top 10 – 5 points
- Top 25 – 4 points
- Top 50 – 3 points
- Top 75 – 2 points
- Top 100 – 1 point
Regional Accreditation:5 points
Hourly Tuition:
- $300 and Under – 5 points
- $800 and Under – 4 points
- $1200 and Under – 3 points
- $1,600 and Under – 2 points
- $2,000 and Under – 1 point
Payscale.com College ROI Ranking
- Top 100 – 5 points
- Top 300 – 4 points
- Top 600 – 3 points
- Top 900 – 2 points
- Top 1200 – 1 point
#10 – Temple University
Philadelphia, Pennsylvania
MBA with Concentration in Entrepreneurship Online
US News Ranking: Not in Top 200
Hourly Tuition Rate: $1,245
Payscale Ranking: 459th
Regional Accreditation: Yes
Points: 10
Website
Temple University offers a 48 credit hour, online MBA with a concentration in entrepreneurship degree that may be completed in as few as 20 months (but up to 6 years is permitted). The program has 36 elective courses and a final capstone course but includes three required classes: Leadership; Accounting; and Statistics. Temple University calls for the following items in applying for their online MBA degree with a concentration in entrepreneurship: transcripts, resume, two letters of recommendation, essay, GRE or GMAT scores, admissions interview, and $60 fee.
#9 – Northeastern University
Boston, Massachusetts
MBA with Concentration in Innovation Entrepreneurship Online
US News Ranking: #77 (tie)
Hourly Tuition Rate: $1,600
Payscale Ranking:174th
Regional Accreditation: Yes
Points: 12
Northeastern University’s online master of business administration with a concentration in innovation entrepreneurship is a 55 credit hour program that focuses on qualities of successful innovation entrepreneurs, such as how to secure funds, assessing creative thinking, obtaining market sourcing, and overseeing and developing talent. Coursework includes New Venture Creation, New Product Development, and Global Social Entrepreneurship, and the degree may be completed in as little as two years. To apply to Northeastern University for their online MBA with a concentration in innovation entrepreneurship, submit GMAT scores, professional resume, 1-3 letters of recommendation, transcripts, and a $75 application fee. Interviews are by invitation.
#8 – Syracuse University
Syracuse, New York
Online MBA with Specialization in Entrepreneurship
US News Ranking: #38 (tie)
Hourly Tuition Rate: $1,559
Payscale Ranking: 306th
Regional Accreditation: Yes
Points: 13
Syracuse University offers a 54 credit hour master in business administration with a specialization in entrepreneurship degree that is online, though three residencies of one-hour credit each are required. Students in the program typically have an average work experience of 11 years. Admission calls for at least one full year of true work experience, GRE/GMAT scores, two letters of recommendation, resume, transcripts, and $75 fee ($45 if submitted by priority deadline). The curriculum for Syracuse University’s online MBA with specialization in entrepreneurship includes Data Analysis and Decision Making, Introduction to IT and E-Commerce, and Microeconomics.
#7 – Oklahoma State University
Stillwater, Oklahoma
Online MBA with Concentration in Entrepreneurship
US News Ranking: #38 (tie)
Hourly Tuition Rate: $634.75
Payscale Ranking: 642nd
Regional Accreditation: Yes
Points: 13
Website
A solid background in calculus and statistics is preferred but not required when applying for Oklahoma State University’s online master of business administration with a concentration in entrepreneurship program. Twelve credit hours beyond the required MBA core of 21 hours form the concentration. Further coursework includes Real Estate Development, Launching a Business–the First 100 Days, and Native American Entrepreneurships. The online MBA with a concentration in entrepreneurship offered by Oklahoma State University calls for a minimum 3.0 GPA, GMAT/GRE scores, statement of purpose, two letters of recommendation, and a $50 application fee.
#6 – North Carolina State University
Raleigh, North Carolina
MBA with Concentration in Entrepreneurship Online
US News Ranking: #17 (tie)
Hourly Tuition Rate: $1,961
Payscale Ranking: 160th
Regional Accreditation: Yes
Points: 14
North Carolina State University offers a master of business administration degree with a concentration in entrepreneurship. The chiefly online program may be completed in 21 months and mandates two three-day residencies at the Raleigh campus. The required 40 credit hours of coursework includes an optional International Immersion experience, a 7-8 day, study trip abroad. North Carolina State’s online MBA with a concentration in entrepreneurship uses mainly asynchronous teaching methods and focuses on technology, business processes, and practical applications. To apply, submit GMAT/GRE scores, three letters of recommendation, resume, essays, admission interview, and a $75 fee.
#5 – University of North Carolina
Chapel Hill, North Carolina
Online MBA with Concentration in Entrepreneurship
US News Ranking: #1 (tie)
Hourly Tuition Rate: $1,884
Payscale Ranking: 289th
Regional Accreditation: Yes
Points: 15
Website
The University of North Carolina has a 62-credit hour, online MBA with a concentration in entrepreneurship that can be completed in 18 months. The average student in the program has 6-10 years of business experience. Electives in the coursework will vary each semester, but live online classes include Corporate Financial Strategy, Derivatives, Advanced Consulting Skills and Frameworks, and Global Brand Strategy. The application process for the University of North Carolina’s online MBA with a concentration in entrepreneurship calls for a resume, two letters of recommendation, essays, GMAT or GRE scores, a personal interview, and a $150 fee.
#4 – University of Texas Dallas
Dallas, Texas
MBA with Concentration in Innovation and Entrepreneurship Online
US News Ranking: #6 (tie)
Hourly Tuition Rate: $1,410
Payscale Ranking: 123rd
Regional Accreditation: Yes
Points: 15
The University of Texas Dallas has an online master of business administration degree with a concentration in innovation and entrepreneurship. The 53 credit hour program gives students the option of electives that focus on the new venture or innovation within the corporate structure. To apply, submit GRE/GMAT scores, transcripts, and a $100 application fee. Coursework for the University of Texas Dallas MBA with a concentration in innovation and entrepreneurship online includes Private Equity Finance, Technology Commercialization and Concept Validation, International Business Plan, Startup Launch, Marketing Equity Strategies, and Organizational Behavior.
#3 – University of Illinois Urbana Champaign
Urbana, Illinois
Online MBA with Specialization in Entrepreneurship and Strategic Innovation
US News Ranking: Not in Top 200
Hourly Tuition Rate: $250
Payscale Ranking: 77th
Regional Accreditation: Yes
Points: 15
The University of Illinois Urbana – Champaign has a 100% online master of business administration degree with a specialization in entrepreneurship and strategic innovation that is a 36 credit hour, two-year program. Coursework includes Entrepreneurship and Corporate Renewal, Strategic Human Capital, Fostering Creative Thinking, and a capstone project. Admission calls for a minimum 3.0 GPA, at least three years of valuable work experience, personal essay, three letters of recommendation, and a $70 application fee. GRE/GMAT scores are helpful but not required when applying for the University of Illinois Urbana – Champaign’s MBA degree with a specialization in entrepreneurship and strategic innovation.
#2 – Penn State University
University Park, Pennsylvania
Online MBA in Corporate Innovation and Entrepreneurship
US News Ranking: #9 (tie)
Hourly Tuition Rate: $1,185
Payscale Ranking: 184th
Regional Accreditation: Yes
Points: 16
Website
The online master of business administration in corporate innovation and entrepreneurship degree offered by Penn State University touts a week-long Global Immersion Experience, beginning in the spring of 2020. A five-day residency requirement is part of the 48 credit hour program, which calls for 39 hours of core courses and 9 hours of concentration courses. The degree’s ICE framework is composed of Integration, Collaboration, and Engagement. Admission to Penn State University’s online MBA in corporate innovation and entrepreneurship degree requires GRE/GMAT scores, resume, essay, online interview, and a $65 fee.
#1 – University of Massachusetts
Amherst, Massachusetts
Online MBA with Focus in Entrepreneurship
US News Ranking: #17 (tie)
Hourly Tuition Rate: $900
Payscale Ranking: 200th
Regional Accreditation: Yes
Points: 16
The University of Massachusetts Amherst has an online, 39 credit hour master in business administration degree with a focus in entrepreneurship. Students may take all classes online or in combination with in-person classes at one of three satellite campuses: Springfield, Shrewsbury, and Boston. Coursework includes Investment Decisions and Strategies, Rethinking Commerce, and Strategic Management of Technological Innovation. Admission to the University of Massachusetts Amherst’s MBA degree with a focus in entrepreneurship calls for transcripts, personal essay, two letters of recommendation, a resume that shows 3-5 years of relevant work experience, and an $80 application fee.
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