Recent MBA grads in the U.S. are making a median salary of $125,000, but not everyone can afford to go back to school full-time. However, there are ways to gain the earning potential of an MBA without relocating or breaking the bank. Research.com, a university ranking site, shared a list of the most affordable online MBA programs with Entrepreneur, using data from various databases.
Online MBAs have seen a significant increase in popularity, with a 158% rise in students from 2020 to 2021 during the pandemic. These programs offer flexibility for professionals to balance their work and personal life, making them attractive to a wide range of candidates.
According to a survey by the Graduate Management Admission Council (GMAC), professionals have shown steady interest in online MBA programs, especially those who value flexibility over in-person classes. Some students see an online MBA as a way to advance in their careers rather than for networking opportunities.
While top schools like Stanford, Harvard, and Northwestern University boast high average salaries for MBA graduates, they also come with a hefty price tag of over $200,000. In contrast, the top 10 most affordable online MBA programs cost less than $10,000, with schools like Northeastern State University, Georgia Southwestern State University, and Fitchburg State University offering quality education at a fraction of the cost.
These affordable online MBA programs provide an opportunity for professionals to enhance their skills and earning potential without breaking the bank.