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<p>Earning an MBA can be a worthwhile investment of both time and money, but it can also be important to candidates to find a program that has a strong return on investment. Some elite <a href="https://fortune.com/education/business/best-mba-programs/" target="_blank" rel="noreferrer noopener">full-time MBA programs</a> cost hundreds of thousands of dollars and take two years to complete—but earning an MBA online can reap similar benefits, often at a lower cost. </p><div class="paywall-selector"></div><div class="paywall">



<p>In fact, <a href="https://www.mba.com/business-school-and-careers/salary-and-roi/guide-to-your-average-mba-salary" target="_blank" rel="noreferrer noopener">MBA graduates earn a median base salary of $115,000</a>, according to the Graduate Management Admissions Council (GMAC). This figure applies to 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 previously told <em>Fortune</em>. “Employers, therefore, do not necessarily know which programs the hired graduates are from.”</p>



<p>For example, online MBA graduates from both the No. 1 and No. 3 schools on <em>Fortune’s </em>ranking of the <a href="https://fortune.com/education/business/best-online-mba-programs/" target="_blank" rel="noreferrer noopener">best online MBA programs</a>—<a href="https://fortune.com/education/business/indiana-university-bloomington-kelley/" target="_blank" rel="noreferrer noopener">Indiana University–Bloomington (Kelley)</a> and <a href="https://fortune.com/education/business/carnegie-mellon-university-tepper/" target="_blank" rel="noreferrer noopener">Carnegie Mellon University (Tepper)</a>—report earning $135,000 median base salaries, according to data reported to <em>Fortune </em>for its ranking of best online MBA programs. But these are two of the more expensive online MBA options, costing a respective $82,000 and $145,000 to complete. </p>



<p>Graduates from many online MBA programs featured on <em>Fortune</em>’s ranking, however, can go on to earn six-figure salaries—and without the higher price tag. In fact, graduates from the <a href="https://fortune.com/education/business/university-of-kentucky-gatton/" target="_blank" rel="noreferrer noopener">University of Kentucky (Gatton)</a> earn $140,000 median salaries with an investment of about $35,000. MBA grads from the <a href="https://fortune.com/education/business/university-of-massachusetts-amherst-isenberg/" target="_blank" rel="noreferrer noopener">University of Massachusetts–Amherst (Isenberg)</a> make median base salaries of $137,500 and spend about $36,000 on their education. </p>



<p>For additional examples of online MBA degrees that have high return-on-investment rates—the ratio of income to amount spent on the degree—<em>Fortune </em>has compiled a list of seven online MBA programs that cost less than $50,000 to complete. </p>



<p><em>Note that not all schools provide salary statistics during the reporting process, therefore, this list is not exhaustive.</em></p>



<figure class="wp-block-image size-large"><img data-src="https://media-cdn.fortuneeducation.com/wp-content/uploads/2023/06/21204728/HJs7g-online-mba-grads-can-see-up-to-475-return-on-investment-nbsp--1024x848.png" alt="" class="lazyload wp-image-52631"></figure>



<h2 class="wp-block-heading" id="h-1-regent-university">1. Regent University</h2>



<p><em>Fortune </em>online MBA ranking: <a href="https://fortune.com/education/business/regent-university/" target="_blank" rel="noreferrer noopener">No. 67</a><br>Total tuition cost: $25,020<br>Median base salary post-graduation: $119,000<br>Return on investment: 375.6%<br>Average GMAT score: did not report<br>Acceptance rate: 37%</p>



<h2 class="wp-block-heading" id="h-2-university-of-wisconsin-mba-consortium">2. University of Wisconsin MBA Consortium</h2>



<p><em>Fortune </em>online MBA ranking: <a href="https://fortune.com/education/business/university-of-wisconsin-mba-consortium/" target="_blank" rel="noreferrer noopener">No. 38</a><br>Total tuition cost: $29,700<br>Median base salary post-graduation: $137,500<br>Return on investment: 362%<br>Average GMAT score: 630<br>Acceptance rate: 96%</p>



<h2 class="wp-block-heading" id="h-3-xavier-university">3. Xavier University</h2>



<p><em>Fortune </em>online MBA ranking: <a href="https://fortune.com/education/business/xavier-university/" target="_blank" rel="noreferrer noopener">No. 61</a><br>Total tuition cost: $34,125<br>Median base salary post-graduation: $105,000<br>Return on investment: 207.7%<br>Average GMAT score: does not report<br>Acceptance rate: 83%</p>



<h2 class="wp-block-heading" id="h-4-university-of-kentucky-gatton">4. University of Kentucky (Gatton)</h2>



<p><em>Fortune </em>online MBA ranking: <a href="https://fortune.com/education/business/university-of-kentucky-gatton/" target="_blank" rel="noreferrer noopener">No. 53</a><br>Total tuition cost: $35,864<br>Median base salary post-graduation: $140,000<br>Return on investment: 290.4%<br>Average GMAT score: does not report<br>Acceptance rate: 80%</p>



<h2 class="wp-block-heading" id="h-5-university-of-massachusetts-amherst-isenberg">5. University of Massachusetts—Amherst (Isenberg)</h2>



<p><em>Fortune </em>online MBA ranking: <a href="https://fortune.com/education/business/university-of-massachusetts-amherst-isenberg/" target="_blank" rel="noreferrer noopener">No. 10</a><br>Total tuition cost: $36,075<br>Median base salary post-graduation: $137,500<br>Return on investment: 281.2%<br>Average GMAT score: 641<br>Acceptance rate: 92%</p>



<h2 class="wp-block-heading" id="h-6-university-of-delaware-lerner">6. University of Delaware (Lerner)</h2>



<p><em>Fortune </em>online MBA ranking: <a href="https://fortune.com/education/business/university-of-delaware-lerner/" target="_blank" rel="noreferrer noopener">No. 49</a><br>Total tuition cost: $41,800<br>Median base salary post-graduation: $100,000<br>Return on investment: 139.2%<br>Average GMAT score: 569<br>Acceptance rate: 78%</p>



<h2 class="wp-block-heading" id="h-7-virginia-commonwealth-university">7. Virginia Commonwealth University</h2>



<p><em>Fortune </em>online MBA ranking: <a href="https://fortune.com/education/business/virginia-commonwealth-university/" target="_blank" rel="noreferrer noopener">No. 47</a><br>Total tuition cost: $42,000<br>Median base salary post-graduation: $109,000<br>Return on investment: 159.5%<br>Average GMAT score: does not report<br>Acceptance rate: 90%</p>



<p><em>Check out all of </em>Fortune’<em>s </em><a href="https://fortune.com/education/" target="_blank" rel="noreferrer noopener"><em>rankings of degree programs</em></a><em>, and learn more about specific </em><a href="https://fortune.com/education/careers/" target="_blank" rel="noreferrer noopener"><em>career paths</em></a><em>.</em> </p>
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Several online MBA programs see grads go on to earn more than $100,000 with an investment of $50,000 or less.

These 7 online MBA programs cost less than $50K—and grads make more than six figures

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These 7 online MBA programs cost less than $50K—and grads make more than six figures

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