The best online MBA programs give students the skills they need to assume leadership positions in diverse industries.
Graduates of the top online MBA programs have many career opportunities and higher-than-average salary potential.
The Bureau of Labor Statistics (BLS) found that in 2013, business leaders with a master's degree earned substantially more than their peers with only a bachelor's degree. For example, professionals with a master's degree who worked in securities, commodities, and financial services earned median annual wages of $170,000, while professionals with just a bachelor's degree earned $90,000.
5 Best Online MBA Programs of 2021
| School | Location |
|---|---|
| 1. University of Florida | Gainesville, FL |
| 2. Florida State University | Tallahassee, FL |
| 3. University of North Carolina at Chapel Hill | Chapel Hill, NC |
| 4. University of South Florida | Tampa, FL |
| 5. Penn State World Campus | University Park, PA |
What Is an MBA?
An MBA is an advanced degree that prepares students for leadership roles in diverse industries. Courses cover topics like leading and managing, using analytical tools for decision-making, analyzing and developing marketing tools, and understanding operations management. Students gain analytical, management, marketing, and communication skills, which they can apply to a variety of roles.
It is common for online MBA program applicants to be recent bachelor's graduates, current business professionals looking to advance their careers, or professionals in other industries seeking a career change.
How Long Does It Take to Complete an Online MBA?
Online MBA programs typically take two years of full-time study to complete, but many programs also offer accelerated timelines that allow students to graduate in 12-18 months. Additionally, some schools offer 4+1 programs for students who want to pursue an MBA immediately after earning a bachelor's degree, allowing learners to graduate with an MBA in just one year.
The Best Online MBA Programs of 2021
| Rank | School | Location | Apply | More Information |
|---|---|---|---|---|
| 1 |
University of Florida |
Gainesville, FL Apply Now | ||
| 2 |
Florida State University |
Tallahassee, FL Apply Now | ||
| 3 |
University of North Carolina at Chapel Hill |
Chapel Hill, NC Apply Now | ||
| 4 |
University of South Florida |
Tampa, FL Apply Now | ||
| 5 |
Penn State World Campus |
University Park, PA Apply Now | ||
| 6 |
University of Southern California |
Los Angeles, CA Apply Now | ||
| 7 |
Babson College |
Wellesley, MA Apply Now | ||
| 8 |
Florida International University |
Miami, FL Apply Now | ||
| 9 |
North Carolina State University at Raleigh |
Raleigh, NC Apply Now | ||
| 10 |
University of Illinois at Urbana-Champaign |
Champaign, IL Apply Now |
End of list, bravo!
Online MBA Programs Ranking Guidelines
We selected the following degree programs based on quality, curricula, faculty strength, school awards, rankings, and reputation, including the school's reputation for providing quality online programs. Our online MBA rankings employ the same methodology that we used to produce our ranking of the best online colleges.
How Are Online MBA Programs Accredited?
Prospective online MBA students should look for two types of accreditation when researching potential schools: regional and programmatic. The U.S. Department of Education oversees six regional accrediting bodies, which accredit schools based on where they are located. Regional accreditation indicates that a school meets high standards with respect to faculty qualifications, academic rigor, and student learning outcomes. There is also national accreditation, but it typically applies only to vocational or trade schools, not to business schools.
Programmatic accreditation applies to programs within a school. Online MBA programs may hold accreditation from the Association to Advance Collegiate Schools of Business, the Accreditation Council for Business Schools and Programs, or the International Assembly for Collegiate Business Education.
What Else Can I Expect From an Online MBA Program?
When researching prospective online MBA programs, students should ensure potential programs offer concentrations and courses aligned with their career goals. Offerings vary by program, but the following sections outline common courses and concentrations found in online MBA programs.
Online MBA Courses
Online MBA programs focus on leadership and management skills in addition to traditional business best practices. A few common courses are outlined below.
Legal and Ethical Decision-Making
Typically taken in the first year, this course introduces students to some of the ethical and legal considerations that business leaders commonly encounter. Because many MBA graduates pursue managerial positions, they must understand how to ethically and legally interact with customers, clients, suppliers, and employers.
Students in this class learn how to make effective individual and company-wide decisions, understand common areas of unethical behavior (e.g., insider trading), and stay up-to-date on legal regulations. Learners may review case studies, participate in roleplaying assignments, and complete group projects.
Leadership Theory and Practice
Because so many MBA graduates work in leadership positions, this is often a core class in MBA curricula. Learners study how effective leaders provide oversight and support for employees and help their companies achieve goals. The course may use case studies of business and non-business leaders across history to help students identify effective and ineffective leadership strategies. Students often complete reflective papers and assignments that help them identify their leadership styles.
Information Technology
Businesses often rely on information technology to create internal and external computer networks, collect data and make data-driven decisions, and keep sensitive information secure. This course examines how information technology can inform and improve business functions. Students learn how to use databases, manage digital strategies, and extrapolate data for use in business decision-making.
Personnel Management
Sometimes known as human resource management, this course teaches students how to manage talent across their companies. Students learn how to hire effective employees, manage benefits programs, set competitive salaries, and provide meaningful training opportunities. Coursework also incorporates topics from industrial-organizational psychology to teach future managers how to maintain effective, efficient, and fulfilled employees.
Finance and Accounting for Managers
Business professionals typically need a basic understanding of finance and accounting to assess business performance, identify areas of improvement, and set strategic goals, even if they don't work in finance. This course examines financial accounting principles, international financial reporting standards, and industry standards and trends. Many online MBA programs also offer finance and accounting concentrations.
Marketing Management
This course teaches students how to incorporate marketing, branding, and advertising strategies to help organizations meet goals. Topics include segmentation and targeting, pricing and promotion, distribution, and brand allegiance. Students review marketing management case studies from a variety of companies and industries to identify best practices and areas of improvement.
Online MBA Concentrations
Because business is such a broad topic, most online MBA programs offer concentrations to help degree-seekers focus their skills. Below are a few common concentrations.
Marketing
Marketing concentrations are ideal for students who want to lead marketing departments and make high-level decisions about how companies are portrayed internally and externally. Courses cover topics like marketing analysis and development, global brand strategies, and how to use data analytics to inform marketing decisions. Graduates can pursue senior-level titles such as brand and product marketing manager, public relations director, marketing data analyst, and marketing director.
Finance
Finance concentrations provide an in-depth understanding of the financial tools and concepts that can improve companies. Students learn how to make effective financial decisions and keep organizations financially healthy. Classes cover topics like international financial markets, advanced corporate finance, venture capitalism and financial innovations, and behavioral finance.
Entrepreneurship
An entrepreneurship concentration teaches students how to create their own business ventures. Learners study concepts like finance, marketing, human assets, and management. Classes also cover venture capital and entrepreneurial management, strategies and practices of family-controlled companies, finance of buyouts and acquisitions, and intellectual property strategy for innovation-driven enterprises.
International Business
Designed for students who want to work in multinational corporations, international business concentrations teach students about global markets, international trends, and the rules governing how business is done around the world. Rather than focusing on a single topic, this concentration reviews traditional business topics — like human resource management and finance — through an international lens. Common courses include international business environments, international business law, and global operations for supply chain strategies.
Human Resource Management
Human resource management concentrations prepare students for roles managing human capital, such as training manager, compensation and benefits manager, and human resource manager. Courses may cover topics like foundations of human resource staffing, human resource management for general managers, talent management and development, and leading the strategic change process. Programs may also examine negotiation and conflict resolution strategies.
What Are Some MBA Salaries?
Online MBA programs prepare graduates to compete for a variety of jobs in diverse industries. The following list outlines common jobs and potential salaries for graduates.
Management Analysts
| Median Salary: $83,610 | Projected Job Growth: 14% |
|---|
Also known as management consultants, management analysts help organizations improve efficiency. They may work in house for a single corporation or in a consulting role for several clients. When starting a new project, management analysts observe the workplace to identify efficiency problems. They may interview staff, review financial data, and collect other relevant information.
After identifying a problem, management analysts develop solutions based on organizational needs. They may introduce new systems, institute changes, or work with management teams to ensure effective implementation of plans.
Top Executives
| Median Salary: $104,980 | Projected Job Growth: 6% |
|---|
Top executives sit at the helm of their companies, directing activities and setting short- and long-term goals. They devise strategic plans, liaise with other department leaders, and set organizational policies. They may also set budgets, negotiate large contracts, and review financial statements.
These individuals need strong leadership, problem-solving, communication, and decision-making skills.
Administrative Service Managers
| Median Salary: $96,180 | Projected Job Growth: 7% |
|---|
Administrative service managers oversee clerical staff, create and monitor departmental goals, develop and implement operational policies, and oversee company-wide recordkeeping. These professionals may also oversee an organization's facilities.
When necessary, administrative service managers may call on outside vendors or specialists to repair equipment or introduce new technology. They must also ensure companies abide by local, state, federal, and industry regulations.
Financial Managers
| Median Salary: $127,990 | Projected Job Growth: 16% |
|---|
Financial managers help companies understand their finances and increase their revenue. They may prepare financial statements, create income and loss forecasts, develop business activity reports, and present financial information to stakeholders. Financial managers need a keen eye for detail and strong analytical thinking and problem-solving abilities.
