MBA students consistently report that some of the top reasons that motivate them to pursue this degree are earning a higher salary post-grad, becoming eligible for promotions, or making a career switch. Many students who graduate from the top online MBA programs go on to earn six figures—and they make even more than the national average of business school grads.
MBA graduates earn a median base salary of $115,000, according to the Graduate Management Admissions Council (GMAC). This figure goes for all MBA students, despite the modality of their study because “schools offer the same diploma to those graduating from in-person programs as the diploma to those from online programs,” a GMAC spokesperson says. “Employers, therefore, do not necessarily know which programs the hired graduates are from.”
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Of the 100 schools that appear on Fortune’s third annual ranking of the best online MBA programs, 12 schools reported salaries higher than the national average of $115,000. MBA grads already earn a much higher average salary than the nearly $70,000 average for people who only hold a bachelor’s degree, according to figures from the U.S. Bureau of Labor Statistics.
An online MBA can also often be a more affordable choice for candidates who are looking for an optimal return-on-investment for their education because many of these students continue to work while pursuing their degree. Some schools, however, do come with a larger price tag than other online MBA programs.
As you’re evaluating online MBA program options, you may want to consider the following schools that report median base salaries higher than the national average. These salary figures were reported directly to Fortune as part of the ranking process for the publication’s 2023 list of the best online MBA programs.
Not all schools report salary figures, so this list is not exhaustive.
1. University of Kentucky (Gatton)
Median base salary: $140,000
Acceptance rate: 80%
Cost per credit: $996
Credits to graduate: 36
2. University of Massachusetts—Amherst (Isenberg)
Median base salary: $137,500
Acceptance rate: 92%
Cost per credit: $925
Credits to graduate: 39
T3. Indiana University—Bloomington (Kelley)
Median base salary: $135,000
Acceptance rate: 28%
Cost per credit: $1,521
Credits to graduate: 54
T3. Carnegie Mellon University (Tepper)
Median base salary: $135,000
Acceptance rate: 61%
Cost per credit: $2,275
Credits to graduate: 64
5. University of North Carolina—Chapel Hill (Kenan-Flagler)
Median base salary: $133,340
Acceptance rate: 60%
Cost per credit: $2,026
Credits to graduate: 62
6. University of Denver (Daniels)
Median base salary: $124,000
Acceptance rate: 75%
Cost per credit: $1,383
Credits to graduate: 60
T7. North Carolina State University (Poole)
Median base salary: $120,000
Acceptance rate: 70%
Cost per credit: $2,529 (out-of-state)
Credits to graduate: 40
T7. Southern Methodist University (Cox)
Median base salary: $120,000
Acceptance rate: 68%
Cost per credit: $1,879
Credits to graduate: 52
T7. Santa Clara University (Leavey)
Median base salary: $120,000
Acceptance rate: 96%
Cost per credit: $1,234
Credits to graduate: 70
10. University of Texas—Dallas
Median base salary: $119,299
Acceptance rate: 91%
Cost per credit: $1,000
Credits to graduate: 53
11. Regent University
Median base salary: $119,000
Acceptance rate: 37%
Cost per credit: $695
Credits to graduate: 36
12. Hofstra University (Zarb)
Median base salary: $118,047
Acceptance rate: 92%
Cost per credit: $1,605
Credits to graduate: 36
Check out all of Fortune’s rankings of degree programs, and learn more about specific career paths.
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