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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. Although most programs charge $25,000-$50,000, actual costs depend on several factors. For example, there is usually a significant discrepancy between the expense of 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 earn a median annual salary of $132,290.
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 earn a median annual salary of $132,290.
What Are the Best Online MBA in Entrepreneurship Programs of 2021? Here Are Our Top 10:
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|Rank||School||Cost per Credit|
|1||University of North Carolina at Chapel Hill||$2,025.63|
|2||Johns Hopkins University||$1,650|
|3||University of Illinois at Urbana-Champaign||$302|
|5||Pennsylvania State University||$1,236|
|6||University of Massachusetts - Amherst||
|8||University of Arizona||$1,145 per unit|
|9||Citadel Military College of South Carolina||n/a|
|10||Central Michigan University||$662 per credit hour|
Still unsure about your MBA college choice? Check out our overall Top Online MBA Degree Programs.
- How We Rank Schools
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Our rankings are grounded in a few guiding principles and use the latest statistical data available from trusted sources. Read our ranking methodology. We hope our approach helps you find the school that is best for you.
What Is an MBA in Entrepreneurship?
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.
What Can I Expect From an Online MBA in Entrepreneurship Program?
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 principles of entrepreneurship, including private equity acquisition and growth strategies.
Example MBA in Entrepreneurship Courses
- Entrepreneurial Finance
- Lean Entrepreneurship
- New Venture Strategy
- Social Entrepreneurship
- Alternative Entrepreneurial Paths
What are Admission Requirements for an MBA in Entrepreneurship Program?
- Test Scores
Many online MBA in entrepreneurship programs require applicants to submit GMAT or GRE scores. Some schools require applicants to submit GMAT scores over 450-500. Students looking to improve their scores can find a plethora of online resources to prepare for these tests.
- Letters of Recommendation
Many graduate programs ask applicants to include 2-3 letters of recommendation that provide insight into their academic and work performance. While these letters can come from professors or other mentors, some MBA programs ask that recommendations come from direct supervisors or employers.
Although some learners begin an online MBA in entrepreneurship right after earning a bachelor's degree, many working professionals pursue MBA programs to supplement existing work experience. When assessing applicants' work histories, many schools value consistent growth and steady progress without considerable employment gaps.
Although prompts vary from program to program, MBA application essays generally address applicants' professional goals and how earning an MBA might help them advance their careers. Applicants might also include what they have learned or accomplished in their unique work experiences, why they have chosen to apply to particular programs, and how they would contribute positively to the school.
- Official Transcripts
Although every school maintains different requirements regarding transfer credits and required GPA, most require applicants to submit their undergraduate transcripts. Most competitive programs ask for a minimum 3.0 GPA from an accredited postsecondary institution.
What Can I Do With an MBA in Entrepreneurship Degree?
Professionals who earn an MBA with a focus in entrepreneurship can pursue several rewarding and in-demand entreprenuerial careers. For example, between 2019 and 2029, the BLS projects significant job growth for employment for market research analysts (18%) and management analysts (11%).
- Management Analyst
Management analysts and consultants formulate practical solutions to help companies maximize profit and productivity. These professionals analyze data like revenue and employment reports and observe workplace functionality to identify potential problems.
Median Annual Salary: $87,660
- Business Executive
Business executives implement strategic policies and lead departmental procedures to make sure companies meet their goals. Executives analyze empirical data like sales reports and financial statements to assess performance and identify opportunities to improve efficiency. Within the company, these individuals collaborate with employees, board members, and other executives.
Median Annual Salary: $81,710
While CEOs' exact duties depend on their industry and company size, they typically supervise the functions of upper-level management. Chief executives may lead executives and colleagues in policymaking, financial planning, and other essential functions.
Median Annual Salary: $183,270
- Sales Manager
These professionals supervise company sales departments. To make sure sales teams are working with optimal efficiency, sales managers train staff members, assign quotas, and employ marketing strategies, such as promotional discounts.
Median Annual Salary: $132,290
- Market Research Analyst
Market research analysts evaluate data to help companies implement informed marketing strategies. They also monitor the effectiveness of existing strategies. These professionals may use specialized software, survey results, focus groups, and literature reviews to assess consumer demand and market trends. Analysts may convert their findings into streamlined reports to present to management and other team members.
Median Annual Salary: $65,810
Is an MBA in Entrepreneurship Worth It?
Earning an MBA can be an exceptional opportunity. According to the National Association of Colleges and Employers, the starting salaries for 2020 MBA graduates are on average $20,000 higher than those of bachelor's degree-holders. 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 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 certificates 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 here.
Why Get an MBA in Entrepreneurship Instead of a Master's in Entrepreneurship?
Aspiring entrepreneurs looking to bolster their skills with a master's degree might consider either an MBA in entrepreneurship or 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 pairing degrees accessible.
For example, a student might complete a dual degree in 66 credits, even if completing the two degrees separately would require 81 credits.
Still Looking for the Right Fit? Discover Similar Programs.
How Do I Choose an MBA in Entrepreneurship Program?
Most online MBA programs cost between $25,000 and $50,000 per year and may require additional expenses, such as textbooks or high-speed internet.
Although tuition rates should not be the only factor that determines learners' school 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 cost.
- Program Format
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.
- Career Opportunities
Many programs have resources to provide career support remotely. Some schools hold career development workshops. Corporate partners might offer information sessions, presenting job or internship opportunities. Many MBA programs help students build career support networks, providing assigned career advisors with appropriate industry expertise, granting students access to alumni job boards, and hosting networking events.
- Programmatic Accreditation
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 organizations, 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.
2021 Best Accredited Online MBA in Entrepreneurship Programs
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University of North Carolina at Chapel Hill
|Chapel Hill, NC||
The University of North Carolina at Chapel Hill is the state's flagship public institution, and it offers a fully online MBA with a focus on entrepreneurship. Students pursuing this degree tackle core business coursework and entrepreneurship concentrations courses such as business strategy, managing innovation, and introduction to entrepreneurship.
Applicants to this flexible online MBA program must complete an online application and have at least two years of relevant business experience. Prospective students without at least five years of professional experience must also submit GRE or GMAT scores.
University of North Carolina at Chapel Hill is accredited by Southern Association of Colleges and Schools Commission on Colleges.
Johns Hopkins University
Johns Hopkins University offers a flexible online MBA with a concentration in entrepreneurship that typically takes students three years to complete. In addition to online coursework, degree-seekers must take three courses that include multi-day onsite components. While pursuing their degree, students complete core classes alongside concentration coursework that covers topics such as entrepreneurial finance, entrepreneurial ventures, and new product development.
Prospective students must have at least two years of post-bachelor's work experience and provide GMAT or GRE scores.
Johns Hopkins University is accredited by Middle States Commission on Higher Education.
University of Illinois at Urbana-Champaign
The University of Illinois at Champaign-Urbana provides a fully online MBA and boasts a global alumni network exceeding 470,000 individuals. Designed as a flexible program for working professionals, the innovation: from creativity to entrepreneurship specialization help learners develop an entrepreneurial mindset through classes like strategic innovation and fostering creative thinking. Before graduation, students also complete a capstone project.
Interested students must submit an online application along with a current resume, three letters of recommendation, and official transcripts. GRE or GMAT scores are optional.
University of Illinois at Urbana-Champaign is accredited by Higher Learning Commission.
Located in Babson Park, Massachusetts, Babson College offers an MBA in entrepreneurship that students can complete entirely online. This program keeps the working professional in mind, allowing students to complete asynchronous coursework largely at their own pace. Learners can complete this degree in 18 months.
Interested students must complete an online application and submit academic transcripts, professional recommendations, and a current resume. Due to COVID-19, 2021 applicants do not need to submit GRE or GMAT test scores.
Babson College is accredited by New England Commission on Higher Education.
Pennsylvania State University
|University Park, PA||
Penn State's World Campus offers an extensive network of online degrees, including an online MBA with a concentration in corporate innovation and entrepreneurship. In addition to 39 credits of core MBA classes, students tackle entrepreneurship topics including business modeling, emerging trends, and corporate innovation strategies.
Prospective students must hold a bachelor's degree from a regionally accredited institution. While the program does not require prerequisite classes, coursework like accounting, economics, and statistics typically strengthens an application. Before their first semester, new students take part in a residency experience that introduces them to the program.
Pennsylvania State University is accredited by Middle States Commission on Higher Education.
University of Massachusetts - Amherst
UMass Amherst offers a flexible online MBA in entrepreneurship through its Isenberg School of Management. Mirroring the rigor of its on-campus offering, this MBA is well-suited for working professionals looking to boost their career options and increase earning potential. Degree-seekers typically graduate in two years, supplementing core requirements with entrepreneurship classes like fundamentals of product marketing and strategic technological innovation management.
Applicants must have at least three years of post-bachelor's professional experience. High-performing students may be eligible for a GRE/GMAT waiver depending on their prior academic and professional achievements.
University of Massachusetts - Amherst is accredited by New England Commission on Higher Education.
Established in 1804, the Athens-based Ohio University provides an entirely online MBA with a concentration in business venturing and entrepreneurship. Students can graduate from this program in two years and complete concentration coursework covering new venture creation, managing innovation, and concept development.
Interested students must complete an online application and supply official transcripts, two letters of recommendation, and a current resume. The program does not require standardized test scores, but prospective students must have at least two years of professional experience.
Ohio University is accredited by Higher Learning Commission.
University of Arizona
The University of Arizona's Eller College of Management offers a flexible MBA with a concentration in entrepreneurship. Students can complete this program entirely online in 14 months. Combining 28 core credits with 17 elective credits, learners complete coursework asynchronously and tackle classes like customer-focused entrepreneurship, leading for innovation, and global social entrepreneurship.
In addition to standard application materials, prospective students must submit a comprehensive essay laying out career goals and interest in UofA's online MBA.
University of Arizona is accredited by Higher Learning Commission.
Citadel Military College of South Carolina
Designed for working professionals and active-duty service members, The Citadel's online MBA program offers a specialization in entrepreneurship. Specialized coursework focuses on topics including venture opportunities, competitive marketing strategies, and venture creation.
While the admissions process requires students to submit standardized test scores, applicants who already hold a master's degree with a minimum 3.0 GPA can apply for a GRE/GMAT waiver. Provisional admission is sometimes available for students who do not meet GPA or testing benchmarks.
Citadel Military College of South Carolina is accredited by Southern Association of Colleges and Schools Commission on Colleges.
Central Michigan University
|Mount Pleasant, MI||
Mount Pleasant's Central Michigan University offers a fully online MBA in entrepreneurship. This 36-credit master's degree includes nine core courses and three concentration classes. Students choose from a variety of entrepreneurship courses, including crowdfunding, venture capital, and technology for entrepreneurs.
Prospective students should have experience in economics, statistics, and accounting before enrolling in this online program. Applicants must have a bachelor's degree from an accredited institution with a cumulative GPA of at least 2.7.
Central Michigan University is accredited by Higher Learning Commission.
The University of Texas - Rio Grande Valley
The University of Texas Rio Grande Valley supplies working professionals with a flexible and affordable online MBA with a specialization in entrepreneurship that students often complete in 12 months. In addition to core and MBA foundation courses, participants complete classes like entrepreneurial law and entrepreneurial marketing fundamentals.
Applicants must hold a bachelor's degree from an accredited institution and have a minimum 3.0 undergraduate GPA. High-performing students and professionals can apply for a GRE/GMAT waiver.
The University of Texas - Rio Grande Valley is accredited by Southern Association of Colleges and Schools Commission on Colleges.
Trevecca Nazarene University
Nashville's Trevecca Nazarene University offers an online MBA with a track in entrepreneurship and innovation. Students can earn their degree in 15 months. This fast-paced MBA is available entirely online, and degree-seekers complete specialization courses like new venture creation, small business management, and entrepreneurship and innovation.
Prospective students must hold a bachelor's degree from an accredited institution and have a minimum 2.75 GPA. However, the program does not require standardized test scores.
Trevecca Nazarene University is accredited by Southern Association of Colleges and Schools Commission on Colleges.
University of Louisiana at Lafayette
The University of Louisiana at Lafayette is home to an online MBA program with an entrepreneurship concentration. Besides foundational and core MBA classes, degree-seekers complete four entrepreneurship courses covering topics like organizational behavior, marketing management, and law for entrepreneurs.
This program participates in the Open Educational Resource Degree Initiative, which helps offset students' fees by replacing expensive textbooks with open academic resources. MBA applicants must have at least three years of professional experience, and the school waives its GMAT requirement for students with a 3.0 GPA or higher.
University of Louisiana at Lafayette is accredited by Southern Association of Colleges and Schools Commission on Colleges.
Syracuse University offers an online MBA with a specialization in entrepreneurship. The program boasts an alumni network of more than 30,000 business professionals. Alongside 15 credits of foundational MBA classes, students tackle an entrepreneurship core that features four courses like venture capital, product development, and corporate entrepreneurship.
Before graduation, degree-seekers also complete a global entrepreneurial management capstone project. Structured for working professionals, students complete classes over 12-week terms and often graduate in 15 months.
Syracuse University is accredited by Middle States Commission on Higher Education.
Southern New Hampshire University
Southern New Hampshire University provides an online MBA in entrepreneurship that is open to all bachelor's degree-holding students, regardless of their professional background. Through concentration coursework that covers topics like consulting, franchising, and management, students gain the expertise needed to increase their earning potential and career options.
Students can apply to this online master's program at any time. SNHU has no application fees, and the program does not require applicants to submit GRE or GMAT scores.
Southern New Hampshire University is accredited by New England Commission on Higher Education.
Frequently Asked Questions About MBA in Entrepreneurship Programs
- Is an MBA in entrepreneurship program hard to get into?
Each school maintains unique admission requirements regarding test scores, grades, and work experience. More exclusive programs might have acceptance rates as low as 35%, while more accessible programs may accept as many as 84% of applicants.
- What can I do with an MBA in entrepreneurship?
Many individuals with an MBA in entrepreneurship hope to run their own business or startup. Some professionals wish to use their entrepreneurship background to find work at established companies. With this versatile degree, professionals can pursue a variety of career options in sales, management, and marketing.
- Is entrepreneurship a good career?
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.
- How much money can I make with an MBA in entrepreneurship?
Many graduates with an MBA in entrepreneurship find lucrative careers. According to the BLS, market research analysts earn a median annual salary of $65,810, while those employed in the publishing industry make $79,040 annually. Management analysts earn a median annual salary of $87,660, with those working in professional, scientific, and technical services make $93,710 per year.
- What are the highest-paying jobs I can get with an MBA in entrepreneurship?
High-level business professionals can earn exceptional salaries. For example, according to the BLS, CEOs earn a median annual salary of $183,270.