How Much Does An MBA Cost?
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Updated May 18, 2023
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Find Perfect Timing to Pursue an MBA Online
An online MBA prepares graduates for advanced careers with high salary potential. But the degree rarely comes cheap. The National Center for Education Statistics reports an average annual tuition rate of $19,314 for all types of graduate degrees. Tuition at top-ranked schools often exceeds $100,000 total. However, many students view the MBA as a professional investment, weighing high tuition costs against increased future earnings.
Before applying to earn an MBA online, students should carefully research their options. We surveyed recent graduates to learn about their experiences with online MBA programs, including benefits, challenges, and life after graduation.
Online MBA Survey Data
We polled MBA graduates about the challenges, outcomes, and overall experience of completing an MBA online. The students generally reported high levels of satisfaction with their MBA experience. Among respondents, 92% reported that an online MBA is just as valuable as an on-campus degree. Similarly, 92% of respondents said that their online MBA helped them advance their career. About 70% of respondents were employed full time after graduation, while another 24% were working 20-40 hours per week.
This survey was conducted in May 2021, and all data from students was self-reported. While the survey results only include male and female perspectives, students also had the option to self-identify as non-binary.
Disclaimer:
Student testimonials have generally been obtained with the offer of compensation for completion of a survey (e.g., entrance into a gift card drawing). Such testimonials are the opinions of such students and surveys are designed to avoid influencing such testimonials either positively or negatively. All student respondents were supplied by Lucid LLC.
Questions and responses have been edited for brevity and clarity.
How Was Your Degree Offered?
- 34% Online with a few on-campus visits required: 26 of 76
Is Your Online MBA Degree as Valuable as an On-campus Degree?
- 285 Students (82%) strongly agree
- 36 Students (10%) agree
- 28 Students (8%) disagree or strongly disagree
What Was the Biggest Challenge to Completing Your Online MBA Degree?
- 17% (13 Students): Paying for higher education while minimizing student debt
- 13% (10 Students): Unexpected circumstances or events in my personal life
- 8% (6 Students): Access to the required technology or internet connectivity
What is Your Current Employment Status?
- 4% (3 Students) are currently employed, less than 20 hours a week
- 24% (18 Students) are currently employed, more than 20 hours a week but less than 40 hours a week
- 2% (2 Students) are currently retired or unemployed, looking for work
Was Your Online MBA Degree a More Affordable Option Than an On-campus Degree?
- 9% (30 Students) neutral
- 4% (11 Students) disagree or strongly disagree
Has Achieving Your MBA Helped You Advance Your Career?
- 1% (3 students) neutral
- 7% (5 students) strongly disagree
How Would You Rate Your Overall Online MBA Experience?
- 38% (29 students) rated a four of five
- 3% (3 students) rated a three or below
What Did You Like Most About Your Online MBA College Experience?
This section highlights what students enjoyed most about their online MBA experience. Many respondents noted flexibility, strong teachers, and the ability to work from home at their own pace.
| What did you like most about your online MBA college experience? | Gender | Age | Current Household Income |
|---|---|---|---|
| There was no travel or wasted time involved | Male | 50 | Over $100,000 |
| Can keep certain documents in online storage | Male | 45 | $75,000 to $99,999 |
| Learning Modules | Male | 28 | $75,000 to $99,999 |
| The classes and the teachers | Female | 41 | $50,000 to $74,999 |
| I liked that I could do everything at my own pace. | Male | 33 | $35,000 to $49,999 |
| Better Tuition | Male | 50 | Over $100,000 |
| The flexibility | Female | 44 | Over $100,000 |
| I could complete assignments on my own time | Female | 28 | $50,000 to $74,999 |
| I was at home away from people | Female | 26 | Over $100,000 |
| It's very easy to use | Female | 38 | Over $100,000 |
| Less time consuming | Male | 30 | Over $100,000 |
| Saving money | Female | 29 | $50,000 to $74,999 |
| It gives me a good vibe and great insight | Male | 28 | $75,000 to $99,999 |
| Flexible class time | Male | 46 | Over $100,000 |
| Access to teachers | Male | 32 | Over $100,000 |
| Easier to focus | Female | 30 | $50,000 to $74,999 |
| Flexibility | Female | 38 | Over $100,000 |
| The flexibility | Female | 31 | Over $100,000 |
| It wasn't stressful | Female | 30 | Over $100,000 |
| To the point | Female | 44 | $75,000 to $99,999 |
| Flexible times to complete coursework | Male | 39 | $75,000 to $99,999 |
| It was easy and fun. I got to be part of a large online community | Female | 45 | Over $100,000 |
| Learned and studied at my own pace | Male | 50 | $50,000 to $74,999 |
| Able to work from home, largely on my own schedule | Male | 59 | $75,000 to $99,999 |
| It was the best moment of my life and it was fun-filled and directional | Male | 45 | Over $100,000 |
| I liked that I was able to complete the work around my schedule | Female | 53 | $75,000 to $99,999 |
| It was educational, fun, and friendly | Female | 25 | $75,000 to $99,999 |
| Very high-quality education and convenient for me | Female | 53 | $75,000 to $99,999 |
| You can work at your own pace | Male | 59 | $50,000 to $74,999 |
| Ability to work at my own pace as long as assignments were done in a timely manner | Female | 78 | $20,000 to $34,999 |
| Able to study at home | Male | 45 | $75,000 to $99,999 |
| I liked the self-pace option. It allowed me to get ahead in my courses when I could. | Female | 24 | $50,000 to $74,999 |
| The structure | Female | 23 | $75,000 to $99,999 |
| The material | Male | 30 | Over $100,000 |
| The flexibility and access to professionals outside my community | Female | 37 | Over $100,000 |
| Teaching. I really love the way they teach and explain things in general | Male | 35 | $35,000 to $49,999 |
| Convenience and working at my own pace | Male | 35 | $50,000 to $74,999 |
| I liked the flexibility, the variety of course offerings, the ability to apply what I learned immediately on the job, networking opportunities, and the ability to avoid long commutes and housing fees | Male | 40 | Over $100,000 |
| The flexibility of the program | Male | 31 | Over $100,000 |
| It is convenient and afforded a high-quality education | Female | 40 | Over $100,000 |
| The flexibility | Female | 28 | $50,000 to $74,999 |
| Learning | Male | 35 | Over $100,000 |
| It was very good for me | Male | 34 | Over $100,000 |
| It's specific | Male | 38 | $75,000 to $99,999 |
| The flexibility it provided | Female | 30 | $75,000 to $99,999 |
| Getting to learn from world-class instructors | Female | 29 | $50,000 to $74,999 |
| The flexibility and the way of learning | Female | 38 | Over $100,000 |
| No commute, can somewhat work at your own pace | Female | 29 | $50,000 to $74,999 |
| It is an easy and flexible way to learn | Female | 35 | Over $100,000 |
| Innovation | Male | 34 | Over $100,000 |
| Flexibility | Male | 40 | Over $100,000 |
| Simple and fast | Male | 30 | $75,000 to $99,999 |
| Being online | Male | 30 | $50,000 to $74,999 |
| The flexibility | Male | 33 | $50,000 to $74,999 |
| I loved the convenience | Male | 38 | Over $100,000 |
| Studying in the comfort of my home | Male | 35 | $75,000 to $99,999 |
| Distance education is the absolute best. You can learn at any time, and it will make you a faster typer. In the past, it took half an hour to write a useful sentence. Now, I am much faster. | Male | 35 | $20,000 to $34,999 |
| It was very professional | Male | 33 | Over $100,000 |
| The way I was lectured | Male | 48 | Over $100,000 |
| Being able to do various activities in my life without having to leave another because I don't have time | Male | 40 | $75,000 to $99,999 |
| Integration of information and how to obtain it | Male | 36 | Over $100,000 |
| I could do a lesson or homework even at 3 a.m. when I had just gotten off work | Female | 32 | $75,000 to $99,999 |
| More information | Male | 36 | Over $100,000 |
| I have the necessary tools to carry out my studies | Male | 30 | $75,000 to $99,999 |
| The ease of learning on the online platform | Male | 30 | $75,000 to $99,999 |
| I like the flexibility of when I could listen to lectures and complete assignments | Male | 27 | $50,000 to $74,999 |
| it was very modern and professional | Male | 39 | Over $100,000 |
| It was comfortable and easy to learn | Female | 36 | Over $100,000 |
| The freedom of working from home | Female | 37 | Less than $20,000 |
| It gave me a reason to improve my income and raise the standard of living for me and my family | Male | 37 | Over $100,000 |
| Everything | Male | 21 | Less than $20,000 |
What Were the Challenges of Getting Your MBA Online?
Earning an MBA online comes with challenges. This section highlights typical student challenges during MBA online programs. Common issues include difficult coursework and balancing school with other commitments.
| What were the challenges of getting your MBA online? | Gender | Age | Current Household Income |
|---|---|---|---|
| The coursework was hard | Male | 50 | Over $100,000 |
| Continuation | Male | 45 | $75,000 to $99,999 |
| Staying focused | Male | 28 | $75,000 to $99,999 |
| Having a husband and child that are loud in the house and trying to juggle working full time | Female | 41 | $50,000 to $74,999 |
| Being strict with my time schedule | Male | 33 | $35,000 to $49,999 |
| Staying focused while getting an online degree and working | Male | 50 | Over $100,000 |
| Networking | Male | 36 | Over $100,000 |
| Lateness to class | Male | 35 | Over $100,000 |
| Asking questions | Female | 44 | Over $100,000 |
| Some of the subject matter was pretty complex, so I had to work harder to teach myself | Female | 28 | $50,000 to $74,999 |
| It was a lot of hard work | Female | 26 | Over $100,000 |
| Bad network sometimes | Female | 38 | Over $100,000 |
| Reading was really hard | Male | 30 | Over $100,000 |
| It was really hard to get | Male | 28 | $75,000 to $99,999 |
| It takes a lot of discipline to do classes from home online | Male | 46 | Over $100,000 |
| Time management | Male | 32 | Over $100,000 |
| Balancing family and work with school work | Female | 30 | $50,000 to $74,999 |
| Time commitment | Female | 38 | Over $100,000 |
| Balancing work and school | Female | 31 | Over $100,000 |
| Nothing at all | Female | 30 | Over $100,000 |
| Cost. The school wasn't cheap | Male | 37 | Over $100,000 |
| Took so long | Female | 44 | $75,000 to $99,999 |
| Mostly, finding the time to work full time and finish coursework | Male | 39 | $75,000 to $99,999 |
| At first it was based on getting good systems and tools for learning | Female | 45 | Over $100,000 |
| Sometimes materials were hard to comprehend | Male | 50 | $50,000 to $74,999 |
| Finding time and scheduling group sessions | Male | 59 | $75,000 to $99,999 |
| The main challenge is shuffling work with class | Male | 45 | Over $100,000 |
| Sometimes it was difficult to get answers to questions because I didn't see the professors in person | Female | 53 | $75,000 to $99,999 |
| I had to work during my time in the program | Female | 25 | $75,000 to $99,999 |
| Maintaining my GDP was very challenging | Female | 53 | $75,000 to $99,999 |
| I had questions I needed answered immediately | Male | 50 | $50,000 to $74,999 |
| One instructor was rude | Female | 78 | $20,000 to $34,999 |
| No challenges for me | Male | 45 | $75,000 to $99,999 |
| Making sure I fully understood what my online professors were explaining | Female | 24 | $50,000 to $74,999 |
| Keeping track of assignments | Female | 23 | $75,000 to $99,999 |
| The lectures | Male | 30 | Over $100,000 |
| Not bonding and creating in-person connections | Female | 37 | Over $100,000 |
| The only challenge I have is financial support because online class requires money and time | Male | 35 | $35,000 to $49,999 |
| Being disciplined | Male | 35 | $50,000 to $74,999 |
| Finances have been my biggest challenge | Male | 40 | Over $100,000 |
| Keeping tabs on school work | Male | 31 | Over $100,000 |
| There are no challenges | Female | 40 | Over $100,000 |
| Balancing everyday life | Female | 28 | $50,000 to $74,999 |
| Juggling work and classes and family | Male | 35 | Over $100,000 |
| Network issues | Male | 38 | $75,000 to $99,999 |
| Unexpected life events | Female | 30 | $75,000 to $99,999 |
| Working full time while going to school full time | Female | 29 | $50,000 to $74,999 |
| Being organized and disciplined | Female | 57 | Over $100,000 |
| Nothing | Female | 38 | Over $100,000 |
| A heavy workload and no in-person lectures | Female | 29 | $50,000 to $74,999 |
| Juggling work and school | Male | 40 | Over $100,000 |
| Limited question-and-answer sessions | Male | 30 | $75,000 to $99,999 |
| Group projects | Male | 30 | $50,000 to $74,999 |
| Having to complete all the applications and programs online | Male | 38 | Over $100,000 |
| Sometimes network issues | Male | 35 | $75,000 to $99,999 |
| It was very difficult to find enough time | Male | 30 | Over $100,000 |
| The challenge I faced was maintaining the desired GPA | Male | 48 | Over $100,000 |
| Meeting goals on time | Male | 40 | $75,000 to $99,999 |
| Paying tuition | Male | 36 | Over $100,000 |
| Sometimes I wanted face-to-face help from professors | Female | 32 | $75,000 to $99,999 |
| Nothing | Male | 36 | Over $100,000 |
| I did not have any challenges | Male | 30 | $75,000 to $99,999 |
| No challenge was presented to me | Male | 30 | $75,000 to $99,999 |
| Lack of technical instruction. I also struggled balancing coursework with my job | Male | 27 | $50,000 to $74,999 |
| Time and money | Male | 29 | Over $100,000 |
| The internet thing and the financial investment | Female | 35 | Over $100,000 |
| Being dedicated and holding myself to a schedule | Female | 37 | Less than $20,000 |
| Studying and working simultaneously | Male | 37 | Over $100,000 |
| Studying and meeting deadlines | Male | 21 | Less than $20,000 |
How Has Completing an Online Degree Changed Your Life?
Many students find that earning an MBA online changes their life. Survey respondents reported new job opportunities, salary increases, and greater confidence in their professional abilities.
| How has completing an online degree changed your life? | Gender | Age | Current Household Income |
|---|---|---|---|
| It gave me another feather in my cap on my resume | Male | 50 | Over $100,000 |
| It gave me the motivation to do better | Male | 45 | $75,000 to $99,999 |
| More education | Male | 28 | $75,000 to $99,999 |
| It made it easier to get ahead and get a better-paying job | Female | 41 | $50,000 to $74,999 |
| So far, it has not changed my life too much. Hopefully, it will turn out to be a good investment. | Male | 33 | $35,000 to $49,999 |
| I received a promotion | Male | 50 | Over $100,000 |
| It has been good | Male | 35 | Over $100,000 |
| It really hasn't changed my life that much | Female | 44 | Over $100,000 |
| I have already been promoted at my job! | Female | 28 | $50,000 to $74,999 |
| Yes, it gave me my dream job and I'm just so grateful to be here and make all the money that I want | Female | 26 | Over $100,000 |
| Positively | Female | 38 | Over $100,000 |
| Promotion at my place of work | Male | 30 | Over $100,000 |
| It has helped me get a great job | Female | 29 | $50,000 to $74,999 |
| It really gave me a desirable change | Male | 28 | $75,000 to $99,999 |
| I am now knowledgeable about the inner workings of business | Male | 46 | Over $100,000 |
| I've gotten further in my career and a higher salary | Female | 30 | $50,000 to $74,999 |
| It hasn't changed much. I understand more about finance though | Female | 38 | Over $100,000 |
| Better job opportunities | Female | 31 | Over $100,000 |
| It has increased my standing in society and also financially | Female | 30 | Over $100,000 |
| It opened the door to get my CPA and other job opportunities | Male | 37 | Over $100,000 |
| Going to get a job for more money | Female | 44 | $75,000 to $99,999 |
| I make a higher salary now. | Male | 39 | $75,000 to $99,999 |
| It has impacted in my life in a very nice and interesting way | Female | 45 | Over $100,000 |
| I advanced my career and grew personally | Male | 50 | $50,000 to $74,999 |
| Opened up advancement opportunities and improved performance | Male | 59 | $75,000 to $99,999 |
| It has widened my scope on the use of media | Male | 45 | Over $100,000 |
| I feel better about myself and my chances for advancement in my career | Female | 53 | $75,000 to $99,999 |
| It got me a better life | Female | 25 | $75,000 to $99,999 |
| I'm very happy all day | Female | 53 | $75,000 to $99,999 |
| Gave me hope for the future | Male | 50 | $50,000 to $74,999 |
| Not at all | Female | 78 | $20,000 to $34,999 |
| Satisfaction and still able to have my career | Male | 45 | $75,000 to $99,999 |
| It allowed me to get a federal job straight out of school | Female | 24 | $50,000 to $74,999 |
| It helps | Female | 24 | $75,000 to $99,999 |
| In my employment | Male | 30 | Over $100,000 |
| I have a more impressive resume for management | Female | 37 | Over $100,000 |
| Yes, in a major way | Male | 35 | $50,000 to $74,999 |
| It has changed my life positively | Male | 40 | Over $100,000 |
| It has given me an opportunity to get promoted in my work | Male | 31 | Over $100,000 |
| Has improved my managerial skills | Female | 40 | Over $100,000 |
| It has opened many career opportunities | Female | 28 | $50,000 to $74,999 |
| I feel more accomplished | Male | 35 | Over $100,000 |
| It's very good | Male | 34 | Over $100,000 |
| It is awesome | Male | 38 | $75,000 to $99,999 |
| More respect in my job and better qualified to advance jobs | Female | 30 | $75,000 to $99,999 |
| I received a promotion at work | Female | 29 | $50,000 to $74,999 |
| I received more opportunities | Female | 57 | Over $100,000 |
| It's very new and different | Female | 38 | Over $100,000 |
| I have accepted a promotion and will be a better fit for other positions that become available in my career | Female | 29 | $50,000 to $74,999 |
| It enables me to improve my career | Female | 35 | Over $100,000 |
| Actually, it changed my life | Male | 34 | Over $100,000 |
| Newfound perspective and better job security | Male | 40 | Over $100,000 |
| More disciplined and organized | Male | 30 | $75,000 to $99,999 |
| Making more money | Male | 33 | $50,000 to $74,999 |
| It has changed my life by giving me the opportunity to compete in the department of my organization | Male | 38 | Over $100,000 |
| I became able to work with the biggest companies | Male | 33 | Over $100,000 |
| It has changed my life by giving me a higher-paying job | Male | 48 | Over $100,000 |
| Yes, personally I am more confident in what I do. I can speak with my superiors with greater confidence and they take me seriously | Male | 40 | $75,000 to $99,999 |
| It is closely related to the initiation of my successes in my career | Male | 36 | Over $100,000 |
| It was a step up and also would be an increase in salary which will increase our family income and standard of living | Female | 32 | $75,000 to $99,999 |
| My job title improved | Male | 30 | $75,000 to $99,999 |
| I got much more knowledge for my professional career | Male | 30 | $75,000 to $99,999 |
| It opened up several new career opportunities and will hopefully contribute to increased earnings | Male | 27 | $50,000 to $74,999 |
| I am another person, it changed my whole life | Female | 35 | Over $100,000 |
| I became more familiar with learning and became ambitious and superior | Female | 36 | Over $100,000 |
| I have more security and a better lifestyle | Male | 37 | Over $100,000 |
| It was great | Male | 21 | Less than $20,000 |
The Pros and Cons of Earning an MBA
Online MBA programs help students build their professional skills and improve their career prospects. However, the degree isn't for everyone. This section highlights several pros and cons of online MBA programs.
Should I Get an MBA?
- Career Advancement
- An MBA offers an efficient path to advancing your career. As one respondent notes, "I received a promotion."
- Higher Salary
- MBA graduates typically earn strong salaries. One survey respondent said, "It has changed my life by giving me a higher-paying job."
- Networking Opportunities
- Online MBA programs offer networking opportunities. "I got to be part of a large online community," said one respondent.
Should I Not Get an MBA?
- Expensive
- An online MBA often leads to higher salary potential, but it comes at a cost. One student sums it up: "The school wasn't cheap."
- Time Commitment
- An online MBA requires a significant time commitment. One student noted that, "Balancing family and work with school work" was a challenge.
- Self-directed Study
- Some candidates find self-directed study challenging. As one student notes, "Some of the subject matter was pretty complex, so I had to work harder to teach myself."
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AffordableCollegesOnline.org is an advertising-supported site. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site.
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