MBA Programs in Ohio Overview

Ohio is known for its great outdoors and large sports scene. It’s notable for being the birthplace of more U.S. presidents than any other state. The Buckeye State also ranks in the top 10 states with the largest 2022 Q4 gross domestic product (GDP). In 2022, Ohio’s GDP reached nearly $639 billion, an increase of $9.6 billion from the previous year.

It’s clear that Ohio is on an upward trajectory, creating a business climate that attracts companies. Leading brands like Facebook, Amazon, Google, and IBM have planted roots in this Midwestern hub. Ohio’s three key innovation cities — Cincinnati, Cleveland, and Columbus — excel in world-class healthcare, higher education, and technology. JobsOhio is investing $100 million in each location to spur economic growth.

What does this mean for MBA students? Numerous opportunities in internships and post-graduate employment. For instance, Ohio State University reports an average summer internship salary of $7,620 for full-time MBA students. Additionally, 93% gain domestic employment within three months of graduation.

Read on to explore the best business schools in Ohio and the top job opportunities for MBA graduates.

Many MBA programs at the best business schools in Ohio offer hands-on experience to students, enabling them to work with industry-leading companies. Thanks to Ohio’s high-quality workforce, 0% state tax on corporate income, and affordable commercial space, you’ll find many of the biggest companies in the country in the state. Some of the top Fortune 500 companies that call Ohio home include Cardinal Health, Marathon Petroleum, Kroger, Procter & Gamble, and Progressive.

Case Western University reports that 88% of MBA students seeking summer internships in 2022 secured one at companies like Moen, Cohen & Company, and Brookfield Properties.

About 338,446 students enrolled in Ohio’s 14 universities in the fall of 2020. Ohio offers unique incentives, such as the Choose Ohio First Scholarship. Funded by the Ohio Department of Higher Education, it provides scholarships for students in STEM fields, including those pursuing graduate degrees. Other advantages include Ohio’s lower cost of living and affordable housing.

According to the National Center for Education Statistics (NCES), in 2020, Ohio ranked fourth in the U.S. as a net importer of new college students, showing a net increase of 11,647 learners. Additionally, almost 80% of graduates work in Ohio one year after graduation, and almost 74% remain after five years.

The goal of accreditation is to establish acceptable levels of academic quality and ensure institutions of higher education meet these levels. Accrediting agencies perform the evaluation. In Ohio, the regional accreditation body is the Higher Learning Commission.

Whereas institutional accreditation evaluates the entire university or college, programmatic accreditation focuses on the specific program or particular school within the institution of higher learning. For instance, all the previously highlighted business schools are accredited by the Association to Advance Collegiate Schools of Business. This accreditation is considered the gold standard for business schools.

There are many options available to help fund your MBA education. These include scholarships, part-time jobs, fellowships, grants, and federal or personal loans. For instance, the Fisher College of Business reports that, on average, 75% of their full-time MBA students receive scholarships, fellowships, or graduate assistantships.

Scholarships and fellowships offer students free money that does not require repayment. Fellowships are often merit-based, common for graduate students, and may cover tuition as well as provide a monthly stipend. You can find scholarships based on need or merit.

Graduate assistantships involve working a certain number of hours each week in exchange for a monthly stipend and sometimes reduced tuition. Explore the links below for the many options for funding your education.

In many instances, out-of-state students pay more for their education. For example, the tuition for full-time MBA students at the Lindner College of Business during the 2021-2022 academic year was $11,159 per semester for Ohio residents and $15,696 per semester for nonresidents. Most private institutions, including Case Western Reserve University, do not charge additional out-of-state fees.

The Midwestern Higher Education Compact established the Midwest Student Exchange Program. Eight states, including Ohio, and 70 institutions participate in this volunteer tuition reciprocity program. These public institutions charge no more than 150% of the in-state resident tuition rate for select programs. Nonresident students typically save between $500 and $7,000 yearly. Private universities may offer a 10% reduction.

The cost of living refers to the money needed to cover necessary expenses, like food, housing, healthcare, and transportation. The lower the cost of living, the easier it is to budget for your education.

According to the World Population Review, Ohio’s cost of living index score is 91.3. The national baseline is 100, meaning that it is cheaper to live in Ohio than in the majority of U.S. states. Only 12 states have lower cost of living index scores.

Ohio State University’s Fisher College of Business offers top-ranked MBA programs as well as BS and Ph.D. degrees in business administration. MBA options include full-time, part-time, online, and executive programs. The school reports MBA graduates earned an average starting salary of $103,815 plus a $22,647 sign-on bonus.

The cost of earning your MBA degree in Ohio varies significantly between schools. For instance, Ohio University’s accelerated MBA program costs less than $23,000 for in-state students and less than $35,000 for nonresidents. In comparison, the total tuition for Case Western Reserve University’s full-time MBA program comes to $96,720.

Case Western Reserve University is one of the hardest schools to get into in Ohio. In 2021, 36 students enrolled in Weatherhead School of Management’s full-time MBA program.

A student must meet the State Legislature and the Ohio Board of Regents classification to qualify for Ohio residency. These guidelines include living in the state for 12 consecutive months and being qualified to vote in Ohio.