While Online MBA programs are certainly more affordable than full-time MBAs, it is still a significant investment and the top ranked programs, particularly those located in the US, can often hit six figures.
At highly ranked institutions, the curriculum, electives, and even faculty are nearly identical to the full-time, in-person MBAs. Many programs also have a hybrid format, with in-person courses and residentials to supplement online learning.
While there are cheaper Online MBA options, it is important to choose a reputable business school that will help you elevate your skill set and fast track your career.
We break down how much an Online MBA from a top business school will cost you in 2024.
Most expensive Online MBA programs
The BusinessBecause Online MBA Guide 2024 breaks down everything you need to know about the top Online MBAs in 2024, including length, average work experience, accreditation, and tuition fees.
The featured programs are ranked in either of the top 10 of the Financial Times Online MBA 2024 Rankings or the US News & World Report’s Best Online MBA Programs.
Of the 18 institutions featured on our Best Online MBA tables, three cross over into six-figure territory: Carnegie Mellon University Tepper School of Business, University of North Carolina Kenan-Flagler Business School, and University of Southern California Marshall School of Business.
Unsurprisingly, the top seven most expensive Online MBAs are all located in the US, with the top five exceeding $90k tuition fees.
While these programs have hefty expenses tied to them, the return on investment makes them worth the cost.
Graduates from Carnegie Mellon: Tepper and USC Marshall, the only programs featured in both rankings, gain significant salary boosts, with Marshall alums seeing a 44% salary increase and Tepper alums seeing a 40% increase.
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Online MBAs under $90k
While some top Online MBAs are priced highly, several business schools offer top rated programs for under $90k.
These programs are more globally spread with universities located across Europe and the US.
In fact, the FT’s top three Online MBAs, IE Business School, based in Spain, Imperial College of Business, and Warwick Business School, both based in the UK, all fall between $50k and $90k.
While not cheap, these three programs have excellent return on investment (ROI). According to data from the Financial Times, graduates from these Online MBAs all earn an average of over $200k three years after graduation, with alums from Imperial earning an average of $218,315.
The US universities in this bracket include Arizona State University: W. P. Carey, with tuition fees for their Online MBA at $66k and University of Florida Warrington, and University of Arizona: Eller, which offer tuition fees just above the $50k mark.
Highly ranked Online MBA programs for under $50k
While many top Online MBA programs can be expensive, fear not, there are still some highly ranked Online MBA programs that are much more affordable while still offering a high quality education.
Six business schools in our list offer an Online MBA degree for under $50k and some programs are significantly lower than that.
These programs span the US, Europe, and Australia. The Italy-based Polimi Graduate School of Management and Australia’s AGSM at UNSW Business School’s Online MBA came in eighth and seventh in the FT ranking. Both business schools offer Online MBA programs for just over $40k.
These programs have a slightly lower salary increase and average salary rate than those with higher tuition fees. However, graduates still see a significant bump with Polimi alumni averaging a 28% salary increase and alumni from AGSM at UNSW averaging a 26% increase.
Durham University and Birmingham Business School both in the UK, and the University of Kansas in the US, all sit within the $30-$40k range, with Birmingham being just over $31k.
Finally, the most affordable of all the Online MBAs on our list is the University of Bradford School of Management, which offers a top-rated Online MBA, placing 10th in the FT ranking, for only $25k.
This is an excellent option for those who are searching for a business school that is more accessible and affordable than the in-person counterparts.
Bradford Online MBA alumni still receive an excellent ROI, with a 20% salary increase and average salary of $147k three years after graduation.
To learn more about Online MBAs, the unique benefits, ROI, and get tips and tricks from business school experts, download our BusinessBecause Online MBA Guide 2024.
