Best Online Master’s in Entrepreneurship Programs of 2021

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by Doug Wintemute

Published on December 7, 2021 · Updated on April 26, 2022

Edited by Rebecca Long
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A master's in entrepreneurship can help aspiring business professionals turn ideas into profitable ventures. In these programs, students often gain the skills they need to start their own business or seek a position within an existing organization. The versatile training provides educational and professional flexibility.

According to the National Center for Education Statistics, the average graduate degree cost about $19,310 annually during the 2018-2019 academic year. The strong career outlook for entrepreneurship graduates can help reduce the financial impact of this training. The Bureau of Labor Statistics (BLS) projects the addition of 906,800 management occupations between 2020 and 2030. The median annual wage for professionals in this sector was nearly $110,000 in May 2020.

Many of the top online schools provide entrepreneurship programs that either confer standalone degrees or online business degrees with entrepreneurship specializations. Prospective students can also choose between online and on-campus programs and various other study options. Use this guide to help with the decision-making process, understand what to expect from these programs, and discover where the degree can lead.

What Can I Expect From an Online Master's in Entrepreneurship Program?

Many of the best entrepreneurs possess strong communication and decision-making skills. They often know how and when to take calculated risks to improve their organizations. In a master's in entrepreneurship program, students can hone these abilities while they develop specialized and advanced business expertise.

Most students between 1-2 years to complete the required 30-45 credits to earn a degree at this level. However, some online master's in entrepreneurship programs offer shorter pathways. The training comprises business specifics, new business development, and leadership training. Some programs feature mandatory practicums, and others provide access to business workshops, incubators, and accelerators.

Prospective students preparing for graduate school should identify what type of degree they want, as entrepreneurship programs may award an MA or an MS. An MA typically provides interdisciplinary training with a leadership focus, whereas an MS focuses more on the technical aspects of the field. An MBA may offer an entrepreneurship emphasis as well, but these programs tend to target more experienced professionals.

Within a master's in entrepreneurship programs, degree-seekers might find specializations or additional focuses, such as innovation, technology, and social change. Concentrations may provide a more defined direction for the training and help learners chart a more direct career pathway.

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Popular Online Master's in Entrepreneurship Programs

Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.

What Courses Will I Take in an Online Master's in Entrepreneurship Program?

Entrepreneurial Strategy

This course examines the common startup choices entrepreneurs face and how professionals can make these decisions effectively. Students explore how to develop goals, strategies, and functional frameworks to meet those ends.

Entrepreneurial Innovation

In this course, students learn about corporate and organizational innovation and how to develop the proper approaches to design and implement new ideas. The training may also look at ways of creating a culture of innovation and encouraging creative thinking in a business environment.

Planning and Forecasting

Students in this course learn about the planning and forecasting processes for different business sectors. They learn how to use data and market research to develop informed perspectives and then use that information to project and forecast future events.

Leadership

Leadership courses teach students how to manage teams, departments, and organizations. The training covers personality management, motivation, performance reviews, and training and development. Some courses examine how leadership can impact organizational culture.

Operations Management

In operations management courses, students discover how to oversee and evaluate operational processes and performances. This may include studies in finance, risk management, strategizing, and product and service management.

What Are Admission Requirements for an Online Master's in Entrepreneurship Program?

While graduate admission requirements vary between programs and schools, most online master's in entrepreneurship have similar application standards. Some of these graduate programs may prefer candidates who possess bachelor's degrees in business, but most accept learners from various disciplines.

In addition to the application components listed below, prospective students may be asked to participate in an interview. Online programs may also have technical requirements that learners need to meet upon acceptance.

Application

On the application form prospective students outline their personal information and identify their program of interest. Since most college application systems only serve undergraduate programs, applicants to online master's in entrepreneurship programs typically apply directly to each school.

Test Scores

Standardized tests, such as the GMAT and GRE, allow schools to compare applicants in a balanced way. While schools typically require test scores as part of the application process, the COVID-19 pandemic has led many to provide test waivers. Prospective students may still want to pursue GMAT and GRE prep courses to ensure they get the minimum scores necessary for admission to their preferred schools.

Letters of Recommendation

Most programs require 2-3 letters of recommendation from the applicant's former teachers and employers. These letters provide insight into how the student has performed academically and professionally in the past and how that might apply to their future endeavors. Prospective students should start asking for letters of recommendation as early as possible to avoid delays.

Resume and Work Experience

Though most master's in entrepreneurship programs do not require applicants to possess professional experience, prospective students often need to submit resumes and cover letters with their applications. These documents tell the schools about the candidate's work history and direction. Our resume and cover letter guide provides tips on making a strong impression.

Essays

College application essays vary by program and degree level. Undergraduate essays often focus on personal history, while graduate essays typically outline academic and professional goals. Essays help schools identify which applicants best fit their programs. Prospective students can look to our guide for help when writing a grad school essay.

Official Transcripts

Nearly all prospective students need to submit official transcripts as part of their application. These records allow schools to determine if the applicant has the required prerequisites and if they qualify for any transfer credits. Our transfer guide provides more information on this process.

What Can I Do With an Online Master's in Entrepreneurship Degree?

Career Outlook

An online master's in entrepreneurship can lead to in-demand careers. The BLS projects 9% growth for management occupations and 8% growth for business and financial occupations between 2020 and 2030. Most of these positions require a bachelor's degree at minimum, so earning a master's degree can make your application more competitive. Graduates may also have access to higher-level roles.

These sectors offer strong financial rewards, as well. The BLS reports that management professionals earned a median annual wage of $109,760 in May 2020. Business and financial workers earned a median yearly salary of $72,250 during the same period. These fields exceed the median annual wage for all occupations, which is $41,950.

See what a master's in entrepreneurship can do for your professional life. Learn more about entrepreneurship careers.

Career Paths

Top Executives

Top executives oversee the operations and activities of organizations, setting business goals and laying out the processes to meet them. Depending on the organization, they may also handle finances, manage department heads, and communicate with stakeholders. They often implement organizational policies and new initiatives.

Median Annual Salary (May 2020): $107,680

Management Analysts

Management analysts assist organizations in improving processes and profitability. They analyze all the information available to them, including finances, performance evaluations, and market data. They then provide the organization with suggestions and reports based on their findings and may also help with the implementation and execution.

Median Annual Salary (May 2020): $87,660

Training and Development Managers

Training and development managers create training programs to help individuals and organizations improve in various ways. These professionals may assess organizations in identifying areas for improvement and then create training programs to solve the issues. They may also develop training programs that address common issues within most organizations.

Median Annual Salary (May 2020): $115,640

Operations Research Analysts

Operations research analysts help organizations by using mathematics and different analytical methods to make more informed business decisions. They look at financial data and histories to create predictive models and forecasts for businesses. Their analyses can help organizations establish more effective budgets, supply chains, and processes.

Median Annual Salary (May 2020): $86,200

Market Research Analysts

Market research analysts help organizations identify the level of demand for products and services in a specific market. They look at the market conditions, competitor information, and buyer behaviors and histories. These analysts may create consumer surveys, help with pricing, and create presentations and reports on their findings, as well.

Median Annual Salary (May 2020): $65,810

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Continuing Education

While most students start their careers directly after earning a master's in entrepreneurship, graduates may want to consider some of the available continuing education options. Graduates can pursue a doctorate in entrepreneurship or in a related field, such as business administration, marketing, or human resources.

These advanced degrees can lead to postsecondary teaching positions, along with many senior-level and research and development positions. Graduates can also pursue industry certifications that may help them develop a field specialization.

How Do I Choose an Online Master's in Entrepreneurship Program?

Cost

Prospective students almost always consider the price of tuition, but they should also look at the true program cost by factoring in expenses for travel, materials, and loss of earnings as a result of studying. Degree-seekers should also compare in-state vs. out-of-state costs, online vs. on-campus study costs, and private vs. public school costs.

Program Format

A program's format can make a big difference in a student's educational experience. Prospective learners should weigh the pros and cons of part-time and full-time study, as well as online and on-campus learning. Online learners in particular might want to consider the differences between synchronous vs. asynchronous delivery to find their ideal program type.

Location

When choosing between online or on-campus programs, prospective students need to think about location. On-campus learners need to find a location they can happily live and study in. Online learners have more flexibility, but they should still ensure they can satisfy any on-campus requirements.

Accreditation

Prospective students should ensure all schools they're considering possess regional accreditation, which can impact financial aid and employment outlook. While programmatic accreditation is not mandatory for a master's in entrepreneurship, there is value in accreditation from the Accreditation Council for Business Schools and Programs, International Accreditation Council for Business Education, and the Association to Advance Collegiate Schools of Business.

Student Support

Prospective learners should also factor in which student services a school offers. These programs can dramatically improve the educational and postgraduate experience. Degree-seekers might check to see if a school offers mentorship programs, online student services, and internships and practicum support. Institutions may also offer career services and alumni networking programs.

2021 Best Accredited Online Master's in Entrepreneurship Programs

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Best Online Master's in Entrepreneurship Programs

  1. University of Florida
    Location

    Gainesville, FL

    Tuition

    $11313

    The University of Florida's master's in entrepreneurship allows students to complete coursework entirely online. This 32-credit program enables full-time learners to graduate in just one year, though part-time students can opt to finish in two years. Highlighting the necessary skills to plan and launch business ventures, core classes include topics like creativity in entrepreneurship, venture finance, and entrepreneurial writing.

    Prospective students must have an undergraduate GPA of at least 3.0 and submit official transcripts, resumes, letters of recommendation, and a statement of purpose.

    Program Snapshot

    • Program URL: Visit Program
    • Cost per Credit: $531 (in state); $1,210 (out of state)
    • Program Length: 1 year
    • Total Credits Required to Graduate: 32 credits
    • Instruction Style: Asynchronous
    • Format: Online
    • School Status: Public
    • School Accreditation: Southern Association of Colleges and Schools Commission on Colleges
  2. University of North Carolina at Chapel Hill
    Location

    Chapel Hill, NC

    Tuition

    $11649

    The University of North Carolina at Chapel Hill's online MBA includes a concentration in entrepreneurship and boasts an alumni network exceeding 42,000 graduates. Alongside core courses like business communication, strategic economics, and financial accounting, students tackle entrepreneurship classes like managing innovation, corporate strategy, and business innovation.

    In addition to a completed online application, prospective students must submit a resume, academic transcripts, and two letters of recommendation. Applicants with fewer than five years of professional experience must also submit GRE or GMAT scores.

    Program Snapshot

    • Program URL: Visit Program
    • Cost per Credit: $2,026
    • Program Length: 2 years
    • Total Credits Required to Graduate: 62 credits
    • Instruction Style: Synchronous, Asynchronous
    • Format: Online
    • School Status: Public
    • Program Accreditation: Association to Advance Collegiate Schools of Business
    • School Accreditation: Southern Association of Colleges and Schools Commission on Colleges
  3. Johns Hopkins University
    Location

    Baltimore, MD

    Johns Hopkins University offers degree-seekers two flexible MBAs in entrepreneurship that students can complete online, on campus, or as a hybrid option. Foundational business courses include 20 credits of classes, including business analytics, corporate finance, and operations management. The remaining credits focus on electives, and learners can earn specializations in entrepreneurial marketing and entrepreneurship, innovation, and marketing.

    Applicants to this online MBA in entrepreneurship must hold a bachelor's degree from a regionally accredited institution with a cumulative GPA of at least 3.0.

    Program Snapshot

    • Program URL: Visit Program
    • Cost per Credit: $1,650
    • Program Length: 2 years
    • Total Credits Required to Graduate: 54 credits
    • Instruction Style: Synchronous, Asynchronous
    • Format: Online, Hybrid
    • School Status: Private
    • Program Accreditation: Association to Advance Collegiate Schools of Business
    • School Accreditation: Middle States Commission on Higher Education
  4. University of Illinois at Urbana-Champaign
    Location

    Champaign, IL

    Tuition

    $15829

    The University of Illinois' flagship campus offers an MBA specializing in entrepreneurship that students can complete entirely online. In addition to the program's entrepreneurship track — Innovation: From Creativity to Entrepreneurship — students complete four core academic areas: strategic leadership and management, managerial economics and business analysis, value chain management, and financial management.

    U of I evaluates applications holistically and considers past academic performance, professional experience, and letters of recommendation. Applicants also submit a 1,000-word personal statement highlighting their background, personal experience, and desire to enroll in the program.

    Program Snapshot

    • Program URL: Visit Program
    • Cost per Credit: $307
    • Program Length: 2 years
    • Total Credits Required to Graduate: 72 credits
    • Instruction Style: Asynchronous
    • Format: Online
    • School Status: Public
    • Program Accreditation: Association to Advance Collegiate Schools of Business
    • School Accreditation: Higher Learning Commission
  5. Babson College
    Location

    Wellesley, MA

    Babson College is a Boston-based private business school that offers an MBA in entrepreneurship that students can complete online, in-person, or as a hybrid option. Babson's curriculum takes an interdisciplinary approach, and core classes include business analytics, operations management, and financial reporting. Foundational entrepreneurship courses include new venture creation, entrepreneurial finance, and managing a growing business.

    Students interested in this master's in entrepreneurship must hold a bachelor's degree from a regionally accredited college or university. Additionally, enrolling students must have several years of professional business experience.

    Program Snapshot

    • Program URL: Visit Program
    • Cost per Credit: $1,990
    • Program Length: 18 months
    • Total Credits Required to Graduate: 45 credits
    • Format: Online, Hybrid
    • School Status: Private
    • Program Accreditation: Association to Advance Collegiate Schools of Business
    • School Accreditation: New England Commission of Higher Education
  6. Pennsylvania State University-World Campus
    Location

    University Park, PA

    Tuition

    $21678

    Penn State's online MBA allows learners to select from a diverse menu of specializations, including entrepreneurship. Over the course of about two years, students tackle a 39-credit core MBA curriculum that includes team performance, economics for business strategy, and managing in the digital economy. Additionally, degree-seekers dedicate nine credits to their corporate innovation and entrepreneurship specialization.

    Prospective students must submit official transcripts from all prior institutions along with GRE or GMAT scores. Test waivers are available for applicants with advanced degrees and significant leadership experience.

    Program Snapshot

    • Program URL: Visit Program
    • Cost per Credit: $1,236
    • Program Length: 24-30 months
    • Total Credits Required to Graduate: 48 credits
    • Instruction Style: Asynchronous
    • Format: Online
    • School Status: Public
    • Program Accreditation: Association to Advance Collegiate Schools of Business
    • School Accreditation: Middle States Commission on Higher Education
  7. The University of Texas at Dallas
    Location

    Richardson, TX

    Tuition

    $9989

    The University of Texas at Dallas' Naveen Jindal School of Management provides working students with a flexible online professional MBA program. Full-time students can complete the required 53 credits in as few as 21 months. Online MBA students complete 32 credits of core classes and devote the remaining 21 credits to entrepreneurship courses like entrepreneurial finance, strategic management, and startup launch.

    Applicants must complete an online application and submit official transcripts, a resume, and a personal essay. UT Dallas does require GRE/GMAT scores, but high-performing applicants may apply for a test waiver.

    Program Snapshot

    • Program URL: Visit Program
    • Cost per Credit: $578 (in state); $1,125 (out of state)
    • Program Length: 21 months
    • Total Credits Required to Graduate: 53 credits
    • Instruction Style: Asynchronous
    • Format: Online
    • School Status: Public
    • Program Accreditation: Association to Advance Collegiate Schools of Business
    • School Accreditation: Southern Association of Colleges and Schools Commission on Colleges
  8. University of Massachusetts-Amherst
    Location

    Amherst, MA

    Tuition

    $21740

    The University of Massachusetts Amherst is home to a flexible online MBA program with a specialization in entrepreneurship. Core online courses include strategic information management, economic analysis for managers, and organizational strategy. Students tackling an entrepreneurship specialization can also select from classes like business turnaround strategies, new venture finance, and quality analytics.

    Prospective learners must have a bachelor's degree from a regionally accredited college or university and have at least three years of professional business experience. Applicants must submit standardized test scores, but waivers are available.

    Program Snapshot

    • Program URL: Visit Program
    • Cost per Credit: $900
    • Program Length: 2 years
    • Total Credits Required to Graduate: 45 credits
    • Format: Online, Hybrid
    • School Status: Public
    • Program Accreditation: Association to Advance Collegiate Schools of Business
    • School Accreditation: New England Commission of Higher Education
  9. Ohio University
    Location

    Athens, OH

    Tuition

    $22072

    Designed with flexibility, affordability, and accessibility in mind, Ohio University's online MBA delivers foundational business coursework alongside an entrepreneurship concentration. In addition to standard core requirements, MBA degree-seekers can tackle entrepreneurship topics like managing innovation, concept development, and new venture creation.

    While students can complete all other course requirements online, this program does mandate a weekend-long, in-person professional development workshop. Ohio University's online MBA does not require applicants to submit standardized test scores.

    Program Snapshot

    • Program URL: Visit Program
    • Cost per Credit: $1,028 (in state); $1,047 (out of state)
    • Program Length: 7 semesters
    • Total Credits Required to Graduate: 39 credits
    • Instruction Style: Synchronous, Asynchronous
    • Format: Online
    • School Status: Public
    • Program Accreditation: Association to Advance Collegiate Schools of Business
    • School Accreditation: Higher Learning Commission
  10. University of Arizona
    Location

    Tucson, AZ

    Tuition

    $15594

    Offered through their Eller College of Management, the University of Arizona's online MBA includes a specialization in entrepreneurship. Throughout this 14-30 month degree, students tackle core requirements along with entrepreneurship electives including classes such as customer-focused entrepreneurship, global social entrepreneurship, and leading and organizing for innovation.

    During the admission process, program officials look for applicants that demonstrate leadership potential, professional experience, and strong academic performance.

    Program Snapshot

    • Program URL: Visit Program
    • Cost per Credit: $1,145
    • Program Length: 14-30 months
    • Total Credits Required to Graduate: 45 credits
    • Instruction Style: Asynchronous
    • Format: Online
    • School Status: Public
    • Program Accreditation: Association to Advance Collegiate Schools of Business
    • School Accreditation: Higher Learning Commission

Frequently Asked Questions About Master's in Entrepreneurship Programs

Is a master's in entrepreneurship worth it? true

Yes. A master's in entrepreneurship can prove valuable for graduates seeking better positions, more professional opportunities, and higher salaries. According to the BLS, a master's degree qualifies graduates for most management occupations. This sector pays far more than the average median annual wage across all occupations and features higher projected career growth rates than the average rates.

In addition to helping professionals succeed in running their own businesses, a master's in entrepreneurship can assist graduates in improving other organizations. When deciding on graduate school, prospective students should assess whether a master's degree will help them achieve their personal and professional goals.

What can I do with a master's in entrepreneurship? true

After completing a master's in entrepreneurship, graduates can enter the workforce or continue their training. They may choose to start their own business, leveraging the program's training, support, networking opportunities, and accelerators or incubators. Alternatively, they can pursue a career in management or business.

For those who opt to continue their education, some possible pathways include a doctorate in entrepreneurship or another business-related discipline. Students may also take an interdisciplinary approach and pursue training in a different field, such as healthcare or social sciences.

Are entrepreneurship majors in demand? true

Yes. Entrepreneurship majors possess many of the most applicable and versatile business skills. Organizations seek out professionals with advanced leadership, business administration, and communication skills, which entrepreneurship graduates develop throughout their training.

The BLS projects the addition of about 750,800 business and financial occupations and over 906,800 management occupations between 2020 and 2030. Most of these careers require a bachelor's degree at minimum, so master's degree-holders possess an advantage.

How much money can I make with a master's in entrepreneurship?

A master's in entrepreneurship can lead to significant earnings. According to the BLS, business and financial professionals earned median annual wages between $51,000-$89,000 in May 2020. Management professionals, conversely, earned between $49,000-$151,000 during the same period.

Within a single field, salaries can fluctuate considerably depending on the professional's experience and credentials. Top executives, for example, made a median annual salary of $107,680 in May 2020. However, the top 10% of earners in the field earned more than $208,000.

What are the highest paying jobs with a master's in entrepreneurship?

The highest-paying jobs available to graduates with a master's in entrepreneurship may vary depending on their experience and location. In general, however, personal financial advisors are the highest-paid business and financial professionals. According to the BLS, they earned a median annual wage of $89,330 in May 2020.

Computer and information systems managers were the highest-paid management professionals during the same period. They earned a median yearly salary of $151,150. Depending on the employer, candidates may need additional training and experience to qualify for these specific positions.

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BestColleges.com is an advertising-supported site. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site.

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