MBA Programs in Indiana Overview

Are you a business professional in Indiana hoping to advance in your career? Consider earning an MBA in the state. Indiana offers excellent opportunities for MBA graduates, as there is a strong demand for professionals in the fields of healthcare management, finance, and marketing.

According to the National Center for Education Statistics (NCES), Indiana is home to more than 50 institutions that grant advanced degrees, including MBAs. As you explore this page, you will discover MBA programs, renowned business schools, and key career paths in Indiana.

Whether you are considering a career in Indianapolis, Fort Wayne, or elsewhere in the state, an MBA degree can help you level up your career. Keep reading to learn more about Indiana's exciting business environment and find the perfect MBA program to help you achieve your career goals.

3 Business Schools in Indiana

University of Notre Dame

The University of Notre Dame, originally founded in 1842, was home to breakthroughs including the formula for synthetic rubber and the aerodynamics of glider flight. Undergraduate enrollees can choose from 75 different majors among eight colleges and schools.

• Private institution
• Average Tuition & Fees: $64,660 (two-year MBA)
• Acceptance rate: 19%

Mendoza College of Business

The Mendoza College of Business offers MBA programs at the University of Notre Dame. Students can focus on a concentration of their choice via various specializations with customized courses. The school boasts a 96% career placement rate within three months of graduation and an average graduate salary of $166,599.

The school places a strong emphasis on career development. Career coaches are available to help attendees through one-on-one coaching sessions. Enrollees can use the skills taught by career coaches during on-campus events, which involve local businesspeople.

Applicants can choose either the one- or two-year on-campus MBA program. The one-year program targets professionals who wish to have an accelerated degree.

Mendoza's MBA Specializations

Dual Science Degree | Dual Engineering Degree | Master of Global Affairs Dual Degree | JD/MBA | Finance | Consulting | Technology | Marketing

Applying to Notre Dame

Applicants to Notre Dame's MBA program must send official transcripts, two letters of recommendations, a slide presentation, statement of purpose, essay, and video assessment. International students should also submit TOEFL, IELTS, or PTE scores.

Indiana University at Bloomington

The Indiana University at Bloomington, the flagship campus among Indiana University's seven campuses, has a mission to create, disseminate, preserve, and apply knowledge.

• Public Institution
• Average Tuition & Fees: $62,688 (in state); $113,908 (out of state)
• Acceptance Rate: 80%

Kelley School of Business

The Kelley School of Business focuses on establishing a strong base for its incoming first-year students. Students can start the program with a one-week accelerated course into fundamental business concepts. All enrollees must attend a two-week career development program that aims to help students throughout the two-year program. MBA enrollees have the opportunity to attend unique courses including solving problems for entrepreneurs, helping coach first-year peers, and a capstone project.

Career mentors help guide students in building their resumes and negotiating offers to prepare them for the working world and recruiter events. Working professionals can also apply to the Kelley Direct Online MBA, an virtual version of the in-person MBA program.

Kelley's MBA Specializations

Business Analytics | Entrepreneurship and Corporate Innovation | Finance | Management | Marketing | Strategic Analysis of Accounting Information | Supply Chain and Operations

Applying to IU

Applicants to the Kelley School of Business must submit transcripts, GMAT/GRE scores, a resume, essay, and letter of recommendation. Individuals can also submit proof of leadership history, including community service or campus involvement. The school offers standardized test waivers, but plans to only approve a limited amount of waivers to strong applicants.

Ball State University

Ball State University is a public school with seven academic colleges and over 20,000 students. Approximately 80% of enrollees qualify for financial aid.

• Public
• Average Tuition & Fees: $38,120 (in state); $47,212 (out of state)
• Acceptance Rate: 87%
• Number of MBA applicants: 214

Miller College of Business

The Miller College of Business at Ball State offers a completely online and flexible MBA. Students can enroll part time or full time and need to complete 30-40 credits to graduate. Most attendees complete the program within two years.

Applicants without a business background may be required to complete fundamental courses that cover accounting, economics, and management. All attendees take the same seven core courses, which cover topics including leadership, statistics, and managerial finance. Students can proceed with a general MBA or a specialization in one of seven in-demand fields.

Miller's MBA Specializations

Artificial Intelligence | Business Analytics | Construction Management | Finance | Healthcare Administration | Information Technology Leadership | Logistics and Supply Chain Management

Applying to Ball State

The Ball State University MBA program application requires students to submit transcripts, GMAT/GRE score, two letters of recommendation, and a resume. Applicants must complete the online application at least two weeks before courses start. Qualified individuals can request a standardized test score waiver.

Why Go to College for an MBA in Indiana?

Indiana offers many opportunities for those pursuing an MBA. Known as the "Crossroads of America," the state is a nationwide leader in healthcare, technology, manufacturing, and logistics. To meet the needs of these industries, there are many MBA programs in the state that equip students with relevant, high-demand skills.

Indiana's commitment to higher education is reflected in its substantial enrollment. In 2022, over 230,000 students were enrolled at public, degree-granting postsecondary institutions. Efforts to improve these numbers, such as Indiana's "You Can. Go Back." campaign, encourage adult learners to complete their degrees.

Scholarship offerings are plentiful, ranging from state-funded opportunities like the Frank O'Bannon Grant to institutional scholarships provided by individual colleges. Moreover, networking within Indiana can yield significant advantages, particularly for those entering industries prevalent in the state. The ties formed during an MBA program often lead to fruitful professional relationships and job opportunities, particularly in a state as economically diverse as Indiana.

Accreditation for Indiana Schools

Attending an accredited school is crucial as accreditation ensures that the institution or program meets certain standards of quality and rigor. Accreditation can be either institutional or programmatic. Institutional accreditation applies to the entire school, recognizing that all of a college or university's operations meet certain standards.

Programmatic accreditation, on the other hand, applies to specific programs, departments, or schools within an institution, ensuring that the education provided meets the standards of that particular field.

The Higher Learning Commission (HLC) is the regional accrediting body for schools in Indiana.

When you consider MBA programs in the state, look for ones accredited by organizations like the Association to Advance Collegiate Schools of Business (AACSB), the Accreditation Council for Business Schools and Programs (ACBSP), or the International Accreditation Council for Business Education (IACBE). Accreditation from these bodies ensures that a program has met high standards specific to business education.

Paying for Your MBA Degree

Financing your MBA degree in Indiana involves exploring a variety of options. Tuition varies across schools, so understanding the cost of your chosen program is the first step. Financial aid in the form of federal and state grants can significantly reduce out-of-pocket expenses. Scholarships and fellowships, awarded based on merit or need, provide funds that don't need to be repaid. Loans, both federal and private, can also be used, though these will require repayment after graduation with interest.

In Indiana, there may be additional state-specific grants or scholarships available to residents. It's also worth investigating whether your chosen school offers any institution-specific scholarships or discounts. Some employers may offer tuition reimbursement programs, particularly for employees pursuing MBAs.

Some students may consider studying part time or online, which can allow you to hold down a job while learning. It's important to explore all options and resources, including financial aid offices, the FAFSA, and scholarship search platforms, to make an informed financial decision.

In-State vs. Out-of-State Tuition

The cost of tuition can vary significantly for in-state vs. out-of-state students. Generally, in-state tuition is lower because state taxes partially subsidize public institutions for residents. However, some schools in Indiana may offer tuition breaks or scholarships to out-of-state students, which can help offset the difference.

Indiana is part of the Midwestern Higher Education Compact (MHEC), a multistate agreement that aims to provide more affordable opportunities for out-of-state students. The MHEC's reciprocity program allows students from participating states to attend certain programs in Indiana at a reduced cost. This can be a significant advantage for out-of-state students considering an MBA program in Indiana.

However, it's crucial for students to thoroughly research each institution and understand the conditions of any reciprocity agreements or out-of-state tuition discounts. They should also compare these potential savings with the costs and benefits of studying in their home state or other regions.

Cost of Living in Indiana

According to the World Population Review, Indiana's cost of living index is 90.4, which is significantly below the national baseline of 100. This means that the overall cost of living in Indiana — encompassing housing, groceries, healthcare, utilities, and transportation — is generally more affordable than in many other U.S. states.

Thus, pursuing an MBA in Indiana could potentially be a financially sound choice. The lower cost of living can positively impact budgeting for your education, possibly reducing student loan burdens or enabling more comfortable living conditions while studying.

Questions About Business Schools in Indiana

How do I qualify for in-state tuition in Indiana?

To qualify for in-state tuition in Indiana, you generally need to establish residency for at least 12 months prior to enrollment, demonstrate financial independence, and provide proof of intent to remain in the state after graduation. Specific criteria can vary between institutions.

Does Indiana have a good business program?

Yes, Indiana hosts several esteemed business programs. Notably, the Kelley School of Business at Indiana University is renowned for its robust curriculum, highly qualified faculty, and strong graduate outcomes.

Is it expensive to get an MBA in Indiana?

The cost of an MBA in Indiana varies depending on the institution. State schools like Indiana University generally offer more affordable rates, especially for in-state students, while private institutions may have higher tuition.

What is the hardest MBA program to get into in Indiana?

The Kelley School of Business at Indiana University is often considered the most competitive MBA program in the state due to its high ranking, stringent admission standards, and the high quality of its applicants.