The Master of Business Administration degree has rapidly gone from being a rarity or a luxury to being a necessity for progressing into the upper levels of management in every industry. For working professionals, an MBA program is generally a good investment – according to the Economist, a manager with an MBA can expect as much as 74% salary increase. According to the Bureau of Labor Statistics, management occupations are growing 6% between 2014 and 2024, which is about average, but the median salary for these jobs is $98,000 – way above average.
However, the MBA student just starting out today faces some challenges that grad students of ten years ago may not have had to encounter. Tuition costs have increased far above the rate of inflation, meaning that an MBA program is getting ever more expensive, both in real dollars and relative to the economy. The market has also gotten increasingly competitive since the dark days of the 2008 recession, as more and more young people choose to go straight from undergraduate to MBA programs, and more working adult professionals return to school to improve their credentials and get a better shot at promotion.
Fortunately, it’s also the best of times for the MBA in many ways. Increased demand means that more colleges and universities are making efforts to make their MBA programs accessible and affordable, in order to attract and accommodate more students. The best means colleges have is online degree programs, which have rapidly expanded in recent years. Online has become the go-to choice for working professionals who do not want to leave their positions, and for new college grads who find they can earn that ever-important work experience and a degree simultaneously.According to the latest Graduate Management Admissions Council (GMAC) Application Trends Survey Report, two-thirds of online MBA programs expect to increase their class size compared to last year. As Poets & Quants puts it, the next generation of students “will consider backward and obsolete any business school that fails to grasp how online platforms enhance community, learning and networking.”
And with increased demand, the accelerated MBA is sweeping business schools. To get students through the programs and into the work force, or promoted to higher positions, colleges and universities are developing MBA programs that can be completed in as little as 12 or 18 months, as opposed to the traditional 2-year MBA.
To help prospective MBA students determine their best route to an accelerated MBA, Value Colleges has developed the Top 50 Best Values ranking of accelerated, online MBA programs. The Value Colleges mission is to guide students to the colleges and universities most likely to have a positive financial impact on graduates, determined by a formula taking into account:
- Reputation (derived from U.S. News & World Report ranking)
- Return (based on average mid-career salary reported by Payscale)
- Price (from the school’s own website)
Value Colleges features only regionally-accredited, reputable programs. In addition, almost all of the business schools listed in the Top 50 have accreditation from the AACSB, the ACBSP, or the IACBE
1University of South Florida – St. Petersburg
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Part of the University of South Florida system, USF St. Petersburg is a small, urban university known for their professional degree programs, especially the College of Business. Originally founded as a USF extension campus in 1965, USF St. Petersburg became an independent institution in 2002, after nearly four decades of entrepreneurial growth and innovation. With its small size, USFSP has become known for their excellent mentoring, as students are incorporated into cutting-edge research alongside their faculty.
USFSP’s Tiedemann College of Business is well-known throughout the area, with strong connections to the business community of St. Petersburg, one of the largest cities in Florida. The College of Business offers a number of options for obtaining an MBA degree, including a full-time, accelerated program that can be completed in as little as 12 months. As this plan requires an intensive 12 credits per semester, USFSP recommends it only for students who can take time off work, or who do not work full-time. By combining on-campus and online courses, the USFSP MBA is flexible, and at just $20,000 for the full program, it’s a value deserving national attention.
Cost: $462 per credit
Months to Completion: 12
Program Accreditation: AACSB
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Longwood University
Founded in 1839, Longwood University is one of the oldest public universities in the US. As a small, public liberal arts college, Longwood has been recognized by U.S. News & World Report and The Princeton Review as one of the top regional institutions in the south, and their dedication to academic excellence has helped make them one of the nation’s best values. All students graduate with internship, field research, or other hands-on academic experience, and the close attention and mentorship Longwood provides gives graduates a considerable advantage.
Longwood University’s online MBA program has been ranked among the best in Virginia. Offered by the College of Business & Economics, the Longwood online MBA is a 36 credit program that is offered completely online, except for 2 or 3 weekend residencies (depending on full-time or part-time status). Full-time students can complete the program in only 15 months, choosing a specialization in General Business or Real Estate. With courses taught by full-time, experienced faculty, ample student support, and a strong reputation on the job market, the Longwood MBA is a serious value.
Cost: $320 per credit
Months to Completion: 15
Program Accreditation: AACSB
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Old Dominion University
Old Dominion University is one of the foremost names in online education, thanks to their significant foresight and early adoption of electronic distance education. Starting first with satellite delivery in 1994, ODU quickly moved into online education well before other reputable public research universities, making Old Dominion a household name and developing some of the best delivery platforms in the business. The ODU reputation is strong nation-wide, and graduates see that reputation pay off.
ODU’s Strome College of Business offers an accelerated, online MBAprogram designed for speed and flexibility. Ranked among the best programs in its class by U.S. News & World Report and Bloomberg Businessweek, the ODU MBA uses 8-week intensive courses to pack more knowledge than a standard semester. For further marketability, ODU offers four certificates in areas such as Modeling, Simulation, and Visualization, or Business Analytics and Big Data, and the full program can be competed in only 21 months.
Cost: $478 per credit
Months to Completion: 21
Program Accreditation: AACSB
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SUNY Oswego
Part of the world-renowned State University of New York system, one of the nation’s most respected public higher education systems, SUNY Oswego is a small but prestigious comprehensive university. Founded as a teacher’s college, SUNY Oswego is still a significant institution for teacher education in New York, but their Graduate School of Business has also been cited by U.S. News & World Report and the Princeton Review as one of the best in the nation. Oswego has also been commended by the Carnegie Foundation for its community engagement, and widely noted as a best value.
With recognition as one of the best business schools around, and AACSB accreditation, students can be confident that the SUNY Oswego MBA program will prepare them for their careers. The MBA can be earned both online and on-campus in a 36-credit program that features the same material taught by the same faculty. With asynchronous delivery, Oswego’s online courses can be flexibly scheduled, and full-time students can finish the MBA in as little as one year.
Cost: $600 per credit
Months to Completion: 12
Program Accreditation: AACSB
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North Carolina State University
As one corner of the world-famous Research Triangle, North Carolina State University has been central to business and technology in the south, and the US in general, for generations. NCSU pioneered networks between academia, industry, and government through projects such as the Centennial Campus and partnerships with leading technology and corporate entities, including companies like GlaxoSmithKline and government agencies like the U.S. Department of Agriculture.
Thanks to its wide-ranging relationships, NCSU has also become a leading business school. The Jenkins Graduate School of Management, part of the Poole College of Management, is one of the most recognized institutions of its kind in the region. NCSU offers the Jenkins MBA, an AACSB-accredited online or on-campus program designed for working professionals. Courses are presented asynchronously, with a variety of methods, and NCSU’s reputable faculty prioritize availability and engagement. Aside from two short on-campus residencies, the whole degree can be earned fully online in as little as 21 months.
Cost: $976 per credit
Months to Completion: 21
Program Accreditation: AACSB
6
University of Delaware
One of the oldest universities in the US, the University of Delaware traces its history to well before the American Revolution, though it was not chartered as a college until 1833. The largest university in Delaware, UD is also ranked as one of the top public universities, though like a few other rare examples (such as Rutgers University in New Jersey), UD is a hybrid private/public institution, receiving land, sea, and space-grant status but privately governed. As a highly productive research university, UD is a leader in environmental science and engineering,
UD’s Lerner College of Business and Economics has been recognized by Bloomberg Businessweek among the best business schools in the nation. The Lerner College offers a 100% online MBA degree program designed to get professionals to the next level of their careers quickly. With intensive 7-week courses, students can complete their degree in only 16 months, and three concentrations – Finance, Healthcare, and International Business – allow students to specialize in some of the strongest growth areas in the field.
Cost: $812 per credit
Months to Completion: 16
Program Accreditation: AACSB
7
Shippensburg University
A small, public institution, Shippensburg University has long been recognized by U.S. News & World Report as one of the top regional colleges in the north, known for high educational quality and strong student support. Founded as a normal school, Shippensburg still puts a premium on teacher education, but the Grove College of Business has made a respected name for themselves since their start in 1971. They are one of the best-known and most trusted business schools in Pennsylvania, and the first public business school in the state to attain AACSB accreditation.
Shippensburg University has also become known nation-wide for their excellent online programs, including the Ship MBA Online, ranked by U.S. News & World Report as one of the best of its kind. This fully online degree program is taught in 8-week accelerated courses, with a range of delivery modes, including both asynchronous and synchronous components. For students who can take on a full-time load, the full degree can be completed in only 18 months, and Shippensburg has one of the most affordable tuition rates in the northeast to make for a solid value.
Cost: $483 per credit
Months to Completion: 18
Program Accreditation: AACSB
8
University of North Texas
One of Texas’s greatest assets is its network of top-tier public universities, with quality to match the public systems of California and New York and meet the needs of the huge state’s growing population. The University of North Texas, a large, public research university in the Dallas-Ft. Worth suburb of Denton, demonstrates what Texas can do with higher education. UNT has been on the rise for the last decade, coming up in rankings and providing students access to the booming job market and economy of Dallas.
UNT offers a fully online, accelerated MBA program that dedicated students can finish in as little as 14 months. UNT’s 36 credit program is set in 8-week courses for flexibility, with frequent start dates for students to work around their own professional schedules. Recognized by U.S. News & World Report as one of the best online MBAs in the nation, UNT’s online MBA also includes two optional specializations: Strategic Management, or Organizational Behavior and Human Resource Management.
Cost: $540 per credit
Months to Completion: 14
Program Accreditation: AACSB
9
Norwich University
Norwich University is famed as the first senior military college in the US (founded in 1819) and the birthplace of the ROTC, but it has also become known in recent years for its strong online presence. Like its fellow senior military colleges, Norwich’s reputation for academic rigor and value is well-earned, and their pioneering work combining classroom education and real-world experiential learning has influenced other colleges for generations.
Norwich has a clear commitment to education for working adults, as Norwich University Online demonstrates. Norwich’s online MBAhas been acclaimed by U.S. News & World Report as one of the best, and Norwich combines the flexibility of shorter 11-week courses, four start times, and self-paced learning with six concentrations, including project management, energy management, and organizational leadership. Students can complete the degree in only 18 months, plus a one-week on-campus residency.
Cost: $760 per credit
Months to Completion: 18
Program Accreditation: ACBSP
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East Carolina University
East Carolina University, a large, public research institution in the respected University of North Carolina system, is best known in the region for its teaching, health care, and nursing programs, which educate the most teachers and nurses in the state. But as a regional university, ECU’s main mission has always been to provide educational opportunity to as many people as possible, and to create leaders for North Carolina’s Down East region, and the ECU College of Business has been helping fill that role with the quality of the UNC system.
ECU is also becoming renowned as a top-tier online educator, using the opportunity online delivery offers to help reach more students than ever. That includes the ECU MBA, which can be earned on-campus or completely online. The program is built for both those who studied business as undergraduates and those who did not, though students with a business bachelor’s degree have a distinct advantage, as they need only 33 credit hours to complete the program in as little as 18 months.
Cost: $369 per credit
Months to Completion: 18
Program Accreditation: AACSB]]]]> ]]>
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