The Best MBAs in Entrepreneurship

Entrepreneurs use creativity and industry knowledge to strategize innovative business solutions. Whether you hope to start your own business or build a career within an existing company, earning an MBA can help you gain credibility, learn crucial business principles, and network with established entrepreneurs.

Like most graduate degrees, an MBA is a significant financial investment. According to data collected by BestColleges, the total tuition for an MBA program typically ranges from $35,000-$85,000. However, the actual costs depend on several factors. For example, there is usually a significant discrepancy between expenses at private and public universities. Costs might also differ for part-time and full-time learners.

According to the Bureau of Labor Statistics (BLS), sales managers earned a median annual salary of $130,600 as of 2022.

Many online MBA in entrepreneurship programs take 18-54 months to complete. For distance learners, particularly those enrolled in asynchronous programs, length can fluctuate based on course schedule and individual work pace.

Many graduates find the career prospects of an MBA attractive. Often, graduates with this degree pursue careers as business executives, market research analysts, and sales managers.

Many careers available to graduates with an online MBA in entrepreneurship are especially lucrative. For example, according to the Bureau of Labor Statistics (BLS), sales managers earned a median annual salary of $130,600 as of 2022.

Many programs comprise 36-72 credits and usually take students 18-54 months to complete. In some programs, students are required to complete internships or capstone experiences. Some choose to supplement their coursework with job or internship experience regardless of formal requirements, though many MBA students enroll with considerable work experience.

Students pursuing a concentration in entrepreneurship typically complete core MBA courses in finance, accounting, economics, and project management. To complete a concentration in entrepreneurship, students take more specialized courses that detail the principles of entrepreneurship, including private equity acquisition and growth strategies.

Professionals who earn an MBA with a focus on entrepreneurship can pursue several rewarding and in-demand entrepreneurial careers. For example, between 2022 and 2032, the BLS projects significant job growth for market research analysts (13%) and management analysts (10%).

Earning an MBA can be worth it. According to the National Association of Colleges and Employers, 2020 MBA graduates’ starting salaries were an average of about $20,000 higher than bachelor’s degree graduates. However, according to Harvard Business Review, 51% of MBA students use loans to pay tuition. Naturally, this puts pressure on the financial prospects of this degree.

Individuals can use tuition costs and projected postgraduate income to estimate the return on investment (ROI) of their degree. Tools like an MBA ROI calculator can help students assess the possible financial implications of earning their degree over time.

Business professionals who wish to supplement their work experiences with additional education without the time and financial commitment of an MBA may do so through certificate programs or certification courses.

For example, professionals might showcase their leadership and management skills with a certified associate in project management or project management professional certification. Aspiring entrepreneurs can use these versatile certifications to gain leadership experience within existing companies before branching off into more independent work.

Learn more about whether an MBA is worth it.

Aspiring entrepreneurs looking to bolster their skills with a master’s degree might consider either an MBA in entrepreneurship or a master’s in entrepreneurship. Although there is some overlap between the curricula of these degrees, students might consider certain structural differences to determine which program best fits their unique career goals.

At many universities, MBA programs are structured with interdisciplinary curricula that include marketing, economics, finance, and business theory. Choosing an entrepreneurship concentration usually means taking entrepreneurship-centered classes and electives. However, most of the curriculum still consists of core business courses.

A master’s in entrepreneurship is structured more like a science degree, with a curriculum that adheres to the principles and methods of starting and running a business. Students might take specific courses detailing the financial and marketing management of newly established businesses and startups.

Some students choose to earn dual degrees, such as an MBA/MS in business analytics or an MBA/MS in entrepreneurship and innovation, to maximize their credentials. Though exact credit requirements depend on the school and individual program, course overlap can make it possible to pair degrees.

For example, a student might complete a dual degree in 66 credits, even if completing the two degrees separately would require 81 credits.

MBA programs, even those offered online, can be costly and may require additional expenses, such as textbooks or high-speed internet.

Although tuition rates should not be the only factor that determines learners’ schools of choice, public universities tend to be much more affordable than private universities, especially for in-state students. Some employers supplement employees’ tuition costs through sponsorship programs. Some schools charge tuition on a per-credit basis, meaning that transferable credits can reduce total costs.

Online programs lend themselves to nontraditional scheduling and can run in either synchronous or asynchronous formats.

Synchronous programs mimic the structure of traditional classrooms and require students to attend lectures at specific times. Asynchronous programs allow students to complete course requirements whenever they have availability, distributing materials through audio and video files, forums, and virtual library access.

For part-time and full-time learners, program length can vary considerably. Full-time students usually complete their studies in 1-2 years but can choose accelerated programs and earn credits through undergraduate courses or professional experience.

Some online MBA programs eliminate in-person requirements. This can be advantageous for students looking for a program without geographic restrictions. However, other programs include on-campus requirements, such as hybridized courses, residencies, and networking opportunities.

Many programs have resources to provide career support remotely. Some schools hold career development workshops. Corporate partners might offer information sessions on job or internship opportunities. Many MBA programs help students build career support networks via assigned career advisors with appropriate industry expertise, alumni job boards, and networking events.

When comparing online MBA programs, students should make sure that business programs have received proper programmatic accreditation. Accreditation means that the program has been evaluated and approved by an organization, such as the Association to Advance Collegiate Schools of Business, the Accreditation Council for Business Schools and Programs, and the International Accreditation Council for Business Education.

Still unsure about which MBA program to choose? Check out our overall Best Online MBA Degree Programs.

Each school maintains unique admission requirements regarding test scores, grades, and work experience. More exclusive programs might have lower acceptance rates, while more accessible programs will accept a higher percentage of applicants.

Many individuals with an MBA in entrepreneurship hope to run their own business or startup. Some professionals wish to use their entrepreneurship backgrounds to find work at established companies. With this versatile degree, professionals can pursue a variety of career options in sales, management, and marketing.

Entrepreneurship can be a rewarding field for professionals who enjoy coming up with practical solutions, exercising cooperative leadership, and collaborating with others. There are several lucrative and in-demand careers for professionals who have the necessary skills, passion, and education.

Many graduates with an MBA in entrepreneurship find lucrative careers. According to the BLS, market research analysts earned a median annual salary of $68,230 in 2022, while those employed in the publishing industry made $105,700 annually. Management analysts earned a median annual salary of $95,290, with those working in professional, scientific, and technical services making $101,900 per year.

High-level business professionals can earn very high salaries. For example, according to the BLS, CEOs earned a median annual salary of $189,520 in 2022.