The Most 25 Affordable Master of Business Administration Online Courses

The Most 25 Affordable Master of Business Administration Online Courses

Relatively recent advancements in education technology have enabled universities and colleges across the country to offer affordable online Master’s of Business Administration degrees.

Such programs allow aspiring professionals to advance their technical expertise and subject knowledge without ever leaving the comfort of their homes, pursuing degrees at a pace that fits their lifestyles and schedules.

In addition, with flexible class schedules, many professionals who earn an online MBA can continue working part- or full-time, depending on their course load. In this ranking, we explore the top 25 most affordable online MBA degrees.

Read Also: 25 Best things you can do with an MBA Degree

Methodology of Master of Business Administration (MBA)

We developed the following list for students looking for an affordable Master of Business Administration (MBA) online. Using information obtained from each school’s website, the National Center for Education Statistics (NCES), and U.S. News & World Report, we were able to develop a comprehensive list of the top master’s online in business administration for graduate students.

To get these schools, we conducted a search for the term “Master’s of Business Administration degree” using the NCES’s College Navigator database and narrowed down the initial pool of more than 200 schools into the top 25 based on factors such as national rankings and the average program cost.

Average Cost of Attendance for Master of Business Administration (MBA)

Although tuition is arguably the first thing that prospective students search for when comparing degrees under the assumption that the most expensive programs are the best, such is not always the case. In fact, some of the most affordable online master’s in business administration degrees may offer topics or specializations that the more costly schools do not.

Every program on our list costs less than $35,000 in total program tuition, and we awarded points based on the cost ranges as outlined below.

Points:
Under $15,000: 3 points
$15,001 to $20,000: 2 points
$20,001 or more: 1 point

College Ranking

Students looking for an online master’s in business administration should also be aware of how their prospective schools compare to other institutions offering similar programs or degrees. For this category, we consulted U.S. News & World Report, a nationally recognized agency responsible for comparing and evaluating the quality of degrees, programs, and schools in the country. For the purpose of our list, we awarded points for its Best Online MBA category based on how the agency ranked each school.

Points:
U.S. News & World Report: Best Online MBA Program Ranking:
Top 10: 5 points
Top 25: 4 points
Top 50: 3 points
Top 75: 2 points
Top 100: 1 point

Ranking Top 25 Most Affordable Online Master of Business Administration Degrees

25. Northwest Nazarene University

Nampa, Idaho

25 Most Affordable Online Master’s of Business Administration Degrees
The online MBA from Northwest Nazarene University can be completed in 16 months of study.

Points: 3
Program Website

The MBA at Northwest Nazarene University is an affordable degree program offered entirely online. A generalist program in business administration, it is designed for working professionals looking for an intensive, ACBSP-accredited course of study. Students who take two eight-week sessions simultaneously can earn their degree quickly within 16 months, and students should expect to spend 12 to 16 hours per week on each course. MBA students may also choose from an emphasis on healthcare, which consists of an additional nine credits, or an emphasis on accounting, which consists of an additional 12 credits and can be completed within 18 months. Students who choose the accounting pathway are prepared to sit for CPA licensure. Face-to-face review sessions may be offered in addition to these cheap online classes.

Degree Options:
MBA
Average Program Cost: $19,635
U.S. News & World Report Ranking:
#215-#284

24. Frostburg State University

Frostburg, Maryland

25 Most Affordable Online Master’s of Business Administration Degrees
The online MBA from Frostburg State University requires 36-42 credit hours of coursework.

Points: 3
Program Website

Frostburg State University’s online MBA is designed in a seven-week course model that gives students the flexibility to juggle academic, personal, and professional commitments. Students pursuing the 36- to 42-credit-hour program take eight core courses, and all students will choose among three concentrations that include an additional four courses focusing on honing professional knowledge and skills. These concentrations include management, healthcare management, and business analytics. The inexpensive program is designed for both non-business and business majors, and it is accredited by the Association to Advance Collegiate Schools of Business. Students may quickly complete the low cost MBA program in as few as 12 months with full-time enrollment.

Degree Options:
MBA
Average Program Cost: $19,584
U.S. News & World Report Ranking:
#131 (tie)

23. Park University

Parkville, Missouri

25 Most Affordable Online Master’s of Business Administration Degrees
Park University’s online MBA requires 33 credit hours of coursework.

Points: 3
Program Website

Park University’s 33-credit-hour inexpensive MBA  program is available entirely online, on-campus, or a combination of the two. MBA courses are offered in an accelerated, eight-week format that allows students to complete this cheap program in as few as 15 months. Graduate students may pursue a general MBA degree or tailor the program through electives based on their professional interests. Alternatively, students may choose a formal area of concentration such as quality and innovation management, project management, management information systems, management accounting, human resource management, or homeland security. Specializations in global executive, global business, finance, and disaster and emergency management are also available.

Degree Options:
MBA
Average Program Cost: $18,117
U.S. News & World Report Ranking:
#215-#284

22. Shippensburg University

Shippensburg, Pennsylvania

25 Most Affordable Online Master’s of Business Administration Degrees
The online MBA from Shippensburg University requires 30 credit hours of coursework.

Points: 3
Program Website

The online MBA offered by Shippensburg University is a low cost 30-credit, AACSB-accredited program that is comprised of eight required courses and two electives. Designed to help students develop the skills and knowledge they need to conduct business successfully in both international and domestic contexts, the cheap program is available entirely online using a combination of synchronous and asynchronous exercises, discussions, and lectures. Courses are taught in accelerated eight-week sessions with optional opportunities to interact with other students and faculty through live online video conferencing. Some exams may be proctored, which might require students to be flexible in arranging for in-person testing at specific locations. Students who complete two courses each semester can finish the program within two years.

Degree Options:
MBA Online
Average Program Cost: $18,000
U.S. News & World Report Ranking:
#143 (tie)

21. Andrews University

Berrien Springs, Michigan

25 Most Affordable Online Master’s of Business Administration Degrees
Andrews University’s online MBA requires 33 credit hours of coursework.

Points: 3
Program Website

The MBA at Andrews University is an inexpensive program offered entirely online, although the final courses are provided on-campus during three-week intensives. Students complete 33 credits of coursework if they hold an undergraduate degree in business; an additional 13 hours of prerequisites are required for non-business majors. Students who are taking classes on a full-time basis and who hold a Bachelor’s in Business Administration may complete the low cost program quickly within one year. The curriculum integrates Christian ethical principles with business concepts to prepare students for positions in leadership, international and domestic business, nonprofit organizations, and government.

Degree Options:
Business Administration – MBA
Average Program Cost: $17,721
U.S. News & World Report Ranking:
#202 (tie)

20. University of North Alabama

Florence, Alabama

25 Most Affordable Online Master’s of Business Administration Degrees
The University of North Alabama’s MBA requires 34 credit hours of coursework.

Points: 3
Program Website

The MBA at the University of North Alabama is one of the top-ranked programs of its kind in Alabama. Faculty members bring real-world experience to the classroom that serves as a foundation for this inexpensive program, and students benefit from professors’ experience and research by solving business problems, using case studies, and developing practical strategies, knowledge, and business skills. Students may pursue a traditional online 34-credit-hour MBA and specialize in a concentration such as accounting, information systems, finance, sales and new business development, global business, human resource management, project management, and healthcare management. Students may also pursue an Executive MBA if they have five years of business experience and they wish to improve their management and leadership skills. This cheap online degree program will fit into any busy lifestyle.

Degree Options:
Master of Business Administration
Executive Master of Business Administration
Average Program Cost: $17,850
U.S. News & World Report Ranking:
#175 (tie)

19. University of Mary

Bismarck, North Dakota

25 Most Affordable Online Master’s of Business Administration Degrees
The online MBA from the University of Mary can be completed in 20 months of study.

Points: 3
Program Website

Students pursuing the online MBA from the University of Mary can complete the program within 20 months. The affordable curriculum provides students with the skills and knowledge they need for leadership and management positions in various business careers. Students can choose from nine optional concentration areas to tailor their MBA toward their specific career objectives, including topics in virtuous leadership, public administration, project management, human resource management, healthcare informatics, healthcare, Catholic philanthropy, and an executive program.

Required courses focus on economic analysis, accounting, finance, operations management, management and organizational behavior, marketing, statistics and research, ethics, human resources, and project management. This cheap online program culminates with a final graduate business capstone.

Degree Options:
MBA Online
Average Program Cost: $15,000
U.S. News & World Report Ranking:
N/A

Read Also: Master of Business Administration Online Degree

18. Fitchburg State University

Fitchburg, Massachusetts

25 Most Affordable Online Master’s of Business Administration Degrees
The online MBA from Fitchburg State University requires 30 credit hours of coursework.

Points: 3
Program Website

To earn the MBA from Fitchburg State University, students must complete a total of 10 courses, or 30 credit hours of study, including a three-hour elective course, nine hours of required management concentration courses, and 18 hours of advanced core requirements. Affordable online courses are taught and designed by the same on-campus faculty, many of whom are working professionals in the field. The curriculum focuses on participation through collaborative learning groups and online class discussions. Areas of study include strategic management, accounting practices, corporate finance, marketing management, management information systems, and organizational behavior and development. This cheap online program is accredited by the IACBE, and graduates are prepared with the essential capabilities and knowledge to pursue different management opportunities in the ever-growing business world.

Degree Options:
MBA in Management Online
Average Program Cost: $12,510
U.S. News & World Report Ranking:
N/A

17. Emporia State University

Emporia, Kansas

25 Most Affordable Online Master’s of Business Administration Degrees
Emporia State University’s online MBA offers three degree concentrations.

Points: 3
Program Website

The AACSB-accredited online MBA at Emporia State University is delivered in accelerated, eight-week courses. The affordable curriculum provides students with a practical understanding of best practices in business management, and case study-driven coursework allows students to apply what they have learned immediately after graduation. Classes cover the fundamentals of marketing, financial management, and managerial economics as well as the use of information technology and systems in management. Students can choose from three inexpensive online MBA concentrations: accounting, information systems, and marketing. Each concentration consists of 36 credit hours of study and can be completed in as few as 12 months. Electives are available in topics such as consumer behavior, electronic marketing, and marketing analytics as well as enterprise resource planning (ERP) and systems analysis and design.

Degree Options:
MBA Online
Average Program Cost: $12,357
U.S. News & World Report Ranking:
N/A

16. Texas A&M University-Corpus Christi

Corpus Christi, Texas

25 Most Affordable Online Master’s of Business Administration Degrees
The online MBA from Texas A&M University-Corpus Christi requires 30 credit hours of coursework.

Points: 3
Program Website

Texas A&M University-Corpus Christi confers a 30-credit-hour online MBA that can be completed within 12 months of full-time study. Students can pursue a general MBA or opt for a concentration in accounting, healthcare administration, or finance. Students who have earned a bachelor’s degree in business administration are required to complete only 10 courses; an additional four courses are required for undergraduate degrees in other industries. Areas covered in the cheap online MBA include marketing management, software-based business solutions, organizational behavior and theory, managerial finance, managerial economics, accounting, operations management, and a capstone in administrative strategy and policy. Elective offerings include a course in entrepreneurship and a seminar in either social media marketing or leadership. This affordable online degree will build leadership and problem solving skills.

Degree Options:
Online MBA
Average Program Cost: $12,313
U.S. News & World Report Ranking:
N/A

15. Eastern New Mexico University

Portales, New Mexico

25 Most Affordable Online Master’s of Business Administration Degrees
Eastern New Mexico University’s online MBA requires 30 credit hours of coursework.

Points: 3
Program Website

The affordable online MBA at Eastern New Mexico University emphasizes the development of managerial generalists rather than specialists and requires study in all major functional areas of business. The inexpensive program is comprised of several components, including core classes, undergraduate common professional courses, and skill competency. Students must complete 30 hours of coursework, and topic areas include managerial finance and economics, strategic management, managerial research analysis, human resources, marketing management, information systems, production and operations management, and more. An accounting concentration is available, which requires three additional classes in attestation service, federal taxation, and financial accounting. ENMU requires a comprehensive integrative experience to be completed during the last semester of the program.

Degree Options:
MBA
Average Program Cost: $8,473
U.S. News & World Report Ranking:
N/A

14. Fayetteville State University

Fayetteville, North Carolina

25 Most Affordable Online Master’s of Business Administration Degrees
The online MBA from Fayetteville State University can be completed in 24 months of study.

Points: 3
Program Website

Fayetteville State University’s online MBA is an affordable, flexible way for busy professionals to achieve their academic goals. With fully recorded lectures, live lectures, and industry-best software tools, students are continuously connected to FayState’s business community. The core curriculum for the MBA consists of 27 credit hours, followed by nine to 12 elective credit hours that can be used to pursue a concentration in one of 10 areas such as entrepreneurship, business intelligence and data analytics, general business, finance, international business, healthcare management, marketing, management, supply chain management, and project management. Students generally take two classes per semester and can complete the cheap program within 24 months. However, students can take classes on their own schedule, earning a degree in anywhere from 12 to 72 months.

Degree Options:
MBA
Average Program Cost: $7,813
U.S. News & World Report Ranking:
N/A

13. Longwood University

Farmville, Virginia

25 Most Affordable Online Master’s of Business Administration Degrees
Longwood University’s online MBA requires 36 credit hours of coursework.

Points: 4
Program Website

Longwood University’s College of Business and Economics confers an online MBA. The flexible and accessible delivery system allows for on-campus, short-term residencies over the summer months designed to fit students’ professional and personal lifestyles. Students are required to complete 36 credit hours to graduate, including 24 credit hours in the core curriculum in topic areas such as marketing, statistics, management, information technology, finance, economics, and accounting. An additional 12 credit hours comprise the specialized low cost curriculum for concentrations in real estate or general business. The classes are taught by tenure-track, full-time doctoral professors, and the top inexpensive online program is accredited by the AACSB.

Degree Options:
Online MBA
Average Program Cost: $20,988
U.S. News & World Report Ranking:
#90 (tie)

12. West Chester University

West Chester, Pennsylvania

25 Most Affordable Online Master’s of Business Administration Degrees
West Chester University’s online MBA can be completed in one year of study.

Points: 4
Program Website

West Chester University’s AACSB-accredited inexpensive online degree is ranked among the top online MBA programs in the country based on its academic and career support services, excellence among peer institutions, and admissions selectivity. Students taking one course at a time on a part-time basis can graduate within two years; full-time students may complete the program quickly within one year. Throughout the curriculum, students are exposed to the core business topics relevant to a global business environment. Courses are delivered asynchronously, and students must complete 10 classes to graduate. Areas of study include financial analysis and valuation, strategic management, leadership, global operations and supply chain management, marketing, economics, law and ethics, and entrepreneurship. A comprehensive exam is required to graduate. This top-ranked affordable program is known for its excellence.

Degree Options:
MBA
Average Program Cost: $20,432
U.S. News & World Report Ranking:
#58 (tie)

11. Fort Hays State University

Hays, Kansas

25 Most Affordable Online Master’s of Business Administration Degrees
Fort Hays State University’s online MBA requires 34 credit hours of coursework.

Points: 4
Program Website

Designed for working professionals, the MBA at Fort Hays State University consists of 34 credit hours and combines core MBA coursework with a concentration. Individuals without an undergraduate degree in business administration may be required to complete an additional 12 hours of prerequisites. Students may choose from 13 concentrations such as marketing, leadership, finance, or human resource management. Throughout the low cost program, students develop skills in the functional areas of business, learning how to apply what they have learned in order to achieve organizational goals in a global environment. Graduates have gone on to assume leadership roles in organizations such as IBM, Blue Cross/Blue Shield, the Federal Deposit Insurance Corporation (FDIC), the U.S. Department of Agriculture, and the Kansas Department of Commerce. Graduates of this cheap online degree find themselves in leadership roles in well known organizations.

Degree Options:
MBA
Average Program Cost: $14,400
U.S. News & World Report Ranking:
#113 (tie)

10. University of South Florida

Tampa, Florida

25 Most Affordable Online Master’s of Business Administration Degrees
The online MBA from the University of South Florida require 32 credit hours of coursework.

Points: 4
Program Website

Offered by the Muma College of Business at the University of South Florida, the online MBA is available entirely online. The inexpensive program consists of 32-hours of study, which full-time students can finish quickly in just four semesters if they hold a bachelor’s in business administration and are exempt from taking foundation courses. Part-time students may earn their degree within three years. This cheap program allows for flexibility and customization, and students may choose electives based on their professional goals as well as one of three concentrations in risk and anti-money laundering, data analysis, or cybersecurity. Core courses include topic areas such as financial analysis, communication, leadership and management, operations management and quality enhancement, data analytics, and social, ethical, and legal systems. Students may replace three of the five required MBA electives with one practicum experience, and capstone course is required for graduation.

Degree Options:
MBA
Average Program Cost: $12,770
U.S. News & World Report Ranking:
#82

9. Jacksonville State University

Jacksonville, Alabama

25 Most Affordable Online Master’s of Business Administration Degrees
The online MBA from Jacksonville State University requires 30 credit hours of coursework.

Points: 4
Program Website

The MBA program at Jacksonville State University consists of 30 semester hours of study for the general degree or 33 semester hours of courses for the accounting concentration. All students are required to take 24 semester hours of foundation courses in areas such as marketing, management, finance, accounting, and statistics, although this requirement may be waived if the student has earned an undergraduate degree in business administration. Both low cost programs cover topic areas such as marketing administration, international business, leadership, financial management, economics, accounting information analysis, and quantitative methods for business decisions. Students round out their degree with six semester hours of electives. The affordable program is accredited by the AACSB, and research opportunities are available to graduate students under faculty supervision. Internships help students acquire on-the-job work experience, and real-world case studies are provided through the Small Business Development Center.

Degree Options:
MBA Program
Average Program Cost: $11,460
U.S. News & World Report Ranking:
#147 (tie)

8. University of Tennessee Martin

Martin, Tennessee

25 Most Affordable Online Master’s of Business Administration Degrees
The online MBA at the University of Tennessee Martin can be completed in 18 months of study.

Points: 5
Program Website

Open to all students, this top online MBA at the University of Tennessee Martin is cohort-based, with 20 students admitted per cohort. Most students complete the AACSB-accredited program in 18 months, and each class lasts between six and eight weeks. All coursework is delivered online, and there are no on-campus or residency requirements. Students use virtual group meeting rooms, virtual classrooms, email, and discussion boards to interact with classmates and faculty. Classes are provided sequentially and include areas of study such as strategic management, operations management, accounting, marketing strategy, managerial economics, law and ethics, corporate financial management, and organizational theory and design. Graduates of this affordable online program develop effective leadership, teamwork, oral, and written communication skills as well as an understanding of the integrated nature of business functions.

Degree Options:
Online MBA
Average Program Cost: $22,116
U.S. News & World Report Ranking:
#34

7. SUNY Oswego

Oswego, New York

25 Most Affordable Online Master’s of Business Administration Degrees
The online MBA from SUNY Oswego requires 36 credit hours of coursework.

Points: 5
Program Website

The affordable MBA online program at SUNY Oswego provides students with the confidence, knowledge, and skills necessary to lead in today’s global and diverse industries. The award-winning faculty stress practical problem-solving situations through classes that are continuously evolving with the latest AACSB-accredited standards. Students complete 36 credit hours of core, elective, and directed elective study that build upon a 21-credit-hour foundation of accepted management principles, concepts, and skills. Core coursework investigates critical areas of study such as organization and management, international business, management science, marketing management, managerial finance, and management information systems. A three-credit capstone course in management policy is required for graduation. This top-ranked low cost degree program will help develop the business and management skills necessary for a successful career.

Degree Options:
MBA
Average Program Cost: $22,068
U.S. News & World Report Ranking:
#40

6. University of North Dakota

Grand Forks, North Dakota

25 Most Affordable Online Master’s of Business Administration Degrees
The online MBA from the University of North Dakota requires 43 credit hours of coursework.

Points: 5
Program Website

The AACSB-accredited inexpensive online MBA at the University of North Dakota is regarded as one of the top programs of its kind in the country. Available on-campus or entirely online, students can finish the required 43 semester credits within two years if taking classes on a full-time basis. Students complete nine credits in a concentration and 34 credit hours of required courses that are organized into four modules: Strategy, Financial and Economic Analysis, Business Analytics, and Executive Management. Concentrations are offered in government and business, business analytics, general studies, social entrepreneurship, and international business. Areas of study in this affordable program include business intelligence, econometrics, organizational leadership and ethics, strategic supply chain management, and quantitative analysis for management decisions. Graduates are prepared for careers in the military, management and leadership, marketing, engineering, banking, accounting, and finance. UND also offers a JD/MBA joint degree.

Degree Options:
MBA
Average Program Cost: $20,941
U.S. News & World Report Ranking:
#31 (tie)

5. University of North Texas

Denton, Texas

25 Most Affordable Online Master’s of Business Administration Degrees
The online MBA from the UNT can be completed in 14 months of study.

Points: 5
Program Website

The University of North Texas offers an affordable accelerated online MBA degree that can be completed in as few as 14 months. Students may choose from concentrations in marketing, marketing analytics, strategic management, organizational behavior and human resource management, supply chain management, and supply chain analytics. The AACSB-accredited program is available entirely online, and students may choose from five available start dates in January, March, June, August, and October for the eight-week courses. Students may choose the pace that works best for them by taking one or two classes at a time and scheduling their education around their professional or familial responsibilities. This cheap online program will help establish your career path.

Degree Options:
Accelerated Online MBA
Average Program Cost: $19,452
U.S. News & World Report Ranking:
#31 (tie)

4. Auburn University

Auburn, Alabama

25 Most Affordable Online Master’s of Business Administration Degrees
The online MBA from Auburn University requires 13 courses.

Points: 6
Program Website

Ranked among the top 10 online MBA programs in the country, Auburn University gives students the advantage they need to succeed in a competitive business environment. Students use CANVAS, the school’s online learning platform, to access course materials, submit homework, hold questions and ask questions with classmates and professors, work with team members on group assignments, and view lectures. Students take 13 classes, including four electives and nine core business courses, and they may do so at their own pace as long as they finish the affordable program within six years. Students who take two courses each semester may earn their online MBA quickly within two and a half years. Areas of study include organizational leadership and change, information systems, cost analysis and systems, marketing and consumer theory, and financial analysis. Dual graduate degree options are available in information systems, industrial and systems engineering, and finance.

Degree Options:
MBA
Average Program Cost: $34,125
U.S. News & World Report Ranking:
#9 (tie)

3. Ball State University

Muncie, Indiana

25 Most Affordable Online Master’s of Business Administration Degrees
The online MBA from Ball State University offers five degree concentrations.

Points: 6
Program Website

Ball State University’s MBA low cost degree is available online, on-campus, or a blend of both, and students may customize their degree by choosing either a general MBA or one of five concentrations in sales management, logistics and supply chain management, finance, entrepreneurship, and health economics, policy, and administration. Students may complete the AACSB-accredited program on a full- or part-time basis. Those with a business degree are required to take 30 to 33 credits of study, while those without a business degree may take up to 51 credits depending on the concentration chosen and the foundation courses needed. Electives cover in-depth knowledge of sales, marketing, management, finance, entrepreneurship, and more. This flexible cheap online degree will prepare you for a successful business career.

Degree Options:
MBA
Average Program Cost: $17,160
U.S. News & World Report Ranking:
#13 (tie)

2. Oklahoma State University

Stillwater, Oklahoma

25 Most Affordable Online Master’s of Business Administration Degrees
Oklahoma State University’s online MBA can be completed in 12 months of study.

Points: 6
Program Website

Oklahoma State University’s Spears School of Business confers a 33-credit-hour online MBA that can be completed in as few as 12 months. The difference between the online and the on-campus degree offered by OSU is that the affordable online program does not include a three-hour professional development and case competition.

Students take core coursework in project management, corporate and business strategy, management and organization theory, financial reporting, economics, marketing management, and managerial economics for this top cheap online degree program.

Although 12 concentrations are available on-campus, only nine are offered online, including nonprofit management, marketing analytics, information assurance, human resource management, global marketing, entrepreneurship, energy business, data science, and business sustainability.

Degree Options:
MBA
Average Program Cost: $14,162
U.S. News & World Report Ranking:
#38 (tie)

1. Kennesaw State University

Kennesaw, Georgia

25 Most Affordable Online Master’s of Business Administration Degrees
The online MBA from Kennesaw State University can be completed in 20 months of study.

Points: 7
Program Website

The Coles College of Business at Kennesaw State University confers a top-ranked affordable online MBA that spans every business function, graduating students who are prepared for a broad spectrum of careers and industries.

Known by KSU as the WebMBA, the program’s cohort structure promotes long-lasting relationships, peer-to-peer learning, and efficient student interactions. Students take courses each in a lock-step schedule for five consecutive terms, and they may earn their degree quickly in about 20 months.

Classes in the KSU WebMBA have the same outcomes and learning objectives as in-class courses, covering the same topics and using the same course materials and textbooks.

Areas of study include business strategy, production and operations management, management information systems, and entrepreneurship.

Students will also be exposed to managerial finance, strategic marketing, accounting, human behavior in organizations, and global and international business in this cheap MBA program.

Degree Options:
Master of Business Administration
Average Program Cost: $12,639
U.S. News & World Report Ranking:
#21 (tie)

Frequently Asked Questions

What are the Career Options for an Online MBA Degree?

Students who earn an online MBA will have the education and skills needed to qualify for positions in a variety of industries after graduation. However, as is the case with any job, individual eligibility depends on the area in which the student specialized while earning their degree. Some of the most popular career options for graduates with an MBA include:

  • Executives: Top-level executives are responsible for all of their firm’s activities, including marketing campaigns, budgets, and finances. Specific roles in this career path include operational manager, chief operating officer (COO), and chief executive officer (CEO).
  • Marketing, Promotions, and Advertising Managers: These professionals work with salespeople, financial officers, and creative directors to help their organizations generate a buzz about the services or products they sell. Depending on their title, they may take charge in advertising campaigns or determine areas in which organizations can improve through comprehensive project evaluations.
  • Human Resources Managers: Also known as HR managers, these professionals are in charge of an organization’s administrative functions. They meet with higher-ups to develop strategies for finding qualified candidates, and they lead personnel teams in the training, hiring, interviewing, screening, and recruiting new employees.
  • Financial Managers: Financial managers are responsible for overseeing an organization’s financial activities. They may provide advice about investment opportunities and asset management to executives and develop long- and short-term budget plans. Specific roles include insurance managers, treasurers, controllers, and chief financial officers (CFOs).

How Much Can You Earn in This Field?

Like many careers, graduates with an MBA often enjoy higher salaries than those with only a bachelor’s degree. In addition, the type of job, level of experience, location, and education also play a significant role when determining average salary with this degree. According to a recent survey by the Graduate Management Admissions Council, companies in the U.S. are offering a median base starting salary of $105,000 to recent MBA graduates in 2018, compared to $65,000 for bachelor’s-holders and $85,000 for direct-from-industry new employees.

Payscale.com reports that the average median salary by job for MBA-holding graduates can be broken down as follows:

  • Chief Financial Officer: $146,343
  • Project Manager: $83,024
  • Senior Financial Analyst: $80,852
  • Operations Manager: $77,420
  • Marketing Manager: $76,678
  • Human Resources Manager: $69,096
  • Financial Analyst: $62,632

What Concentrations Are Available in Business Administration?

More students are pursuing affordable online MBA degrees due to the flexibility and breadth of application in the business industry. Although programs may vary based on each individual school, graduates develop the knowledge and skills they need to obtain positions of leadership in the ever-growing world of business. The following are some of the most common concentrations that one can choose to take while pursuing an affordable online MBA degree:

  • Leadership: In this concentration, students learn how to manage organizations, teams, and individuals. Coursework may include human resource management, team-building, creative decision-making, and executive leadership.
  • Marketing: In this concentration, students earn about product development and design, data mining, buyer behavior, and the foundation and best practices of marketing management. Graduates are trained for positions in brand management, acting as social media specialists who lead teams in the various industries in which they work.
  • Entrepreneurship: In this concentration, students learn how to create business plans, present the plans to investors, and plan venture capital. Students also investigate the startup market’s economy in order to build their own companies from the ground up or act as consultants who help others sustain their own business goals.

What Classes Will You Take in an Online MBA Program?

Online graduate degrees in business administration build upon what students have learned at the undergraduate level. Since many programs must meet certain specifications in order to be accredited, coursework is very similar among schools and degree programs. However, classes may vary depending on the focus and history of the school in addition to the expertise and interests of the faculty. A specialization or concentration will influence the curriculum as well.

1. Strategic Management

A course in strategic management teaches students how to integrate decisions into different functional areas within the business industry, including how to formulate policy and strategy within a specific company. Students also use case studies as templates for developing and implementing specific management plans, and they are prepared to become effective team leaders in different types of business environments.

A strategic management class is typically offered as a prerequisite that students must complete before taking advanced classes in business management.

2. Finance and Financial Accounting

Most online MBA programs offer a course in finance and financial accounting, particularly in programs that prepare students to become accountants and managers. This course focuses on modern practices in financial reporting and accounting systems, including how to interpret and evaluate the external fiscal reports of an organization.

Students may also study current changes in the industry, how financial statements are structured, profitability analysis, and the cycle of accounting.

3. Information Technology

Students taking a course in information technology will take a comprehensive look at issues within information systems management such as systems acquisition, support applications, best practices, and other areas they need to understand in order to be a successful social media analyst and team leader within the global economy.

Students can expect to use case studies to develop solutions for existing or new problems in order to improve social, enterprise, and consumer technologies.

Are There Any Professional Organizations for MBA Graduates?

Both current MBA students and recent graduates can benefit from joining a professional organization. Whether you wish to learn about different approaches to business administration, make professional connections in the industry, or find out more about your specialization or career path, a professional organization can help.

The following are three of the most well-respected professional organizations that maintain active job boards, provide online training sessions, host networking events, and offer other career-related services for recent graduates.

  • National Black MBA Association, Inc.
  • National Association of Women MBAs
  • Association of MBAs

Earning an online MBA opens up many doors in terms of career options. Whether you wish to run your own business or you are dreaming of a top-level position as a chief executive officer, our list of the top 25 most affordable online Master’s of Business Administration degrees can help you get started as you begin to pursue your academic and professional goals.

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