Business and financial experts complete essential tasks such as drafting budgets, estimating costs, and analyzing economic trends. Professionals in this field earn a median $72,250 annual salary, approximately $30,000 more than the national median for all occupations. The Bureau of Labor Statistics (BLS) projects the financial services sector to grow 5% from 2019-2029.
Recent college graduates and experienced business professionals can prepare for management-level positions by earning an MBA degree. Online MBA programs allow degree-seekers to continue working while in school, and many reputable universities offer an MBA with no GMAT requirement.
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Q and A on MBA Programs With no GMAT Requirements
The GMAT exam measures test-takers' potential to succeed in an MBA program. The three-hour exam includes four sections that assess analytical, integrated, quantitative, and verbal reasoning skills.
The exam's price varies by country. As of April 2021, U.S. test-takers pay $275. Other services, such as an enhanced score report, cost extra.
A typical MBA with no GMAT requirement takes two years to complete. Students learning part time and those enrolled in specialized programs may need longer to graduate.
Some professionals with an MBA degree return to school to earn a Ph.D. A doctoral degree qualifies graduates to pursue tenure-track teaching positions at four-year colleges and universities.
Why Get an MBA?
Enrolling in an online MBA program may result in numerous professional advantages. MBA students hone transferable skills, network with peers, and explore additional job opportunities. MBA programs often help learners gain self-confidence and self-discipline. Other benefits include qualifying for Ph.D. and DBA programs.
Busy professionals without time to study for a standardized test often choose an MBA with no GMAT requirement. Many online MBA programs appeal to busy students by offering asynchronous curricula. Degree-seekers learning asynchronously can schedule coursework around professional and personal responsibilities.
How Much Does an MBA Cost?
Students pursuing an online MBA with no GMAT requirement may pay per-credit or flat tuition rates. Most public universities offer significant tuition discounts for in-state students. As a result, prospective students on a budget often choose in-state public schools.
Online learning can lead to considerable cost savings. Distance learners typically save on costs associated with relocation, campus housing, and meal plans. Online students may also save on the cost of commuting and childcare.
Even though students often save money by pursuing an online MBA program, learners can further reduce out-of-pocket expenses by choosing a university with generous institutional and departmental financial aid. Some institutional scholarships do not require a separate application, and many schools award aid based on the student's undergraduate GPA and community involvement. Institutions may also award financial assistance for veterans and alumni.
How Much Do MBA Majors Make?
A business professional's salary varies by job title. According to BLS data, personal financial advisors earn a median salary approximately $38,000 higher than that of meeting, convention, and event planners. Other top-paying jobs in the field include management analyst, financial analyst, and financial examiner.
Geographic location can also significantly impact earning potential. Personal financial advisors living in New York, Maine, and Montana earn significantly higher median salaries than similarly qualified professionals in other states, according to the BLS. However, Maine and Montana feature relatively few positions, and New York has a high cost of living.
MBA-holders may increase their salary potential by obtaining relevant licenses and certifications. For example, professionals can earn the certified financial planner credential to demonstrate skills in risk management, insurance planning, and planning liability. Recent graduates can consult a work supervisor to discuss certifications that can help them advance professionally.
Courses in MBA Programs
Online MBA programs prepare students to lead teams and organizations. Degree-seekers complete rigorous coursework, hands-on experiences, and collaborative projects. Many of the top MBA programs offer one or more concentrations, such as analytics. Students who pursue a specialization develop relevant technical skills. Graduation requirements may include a practicum experience or capstone course.
While earning an MBA with no GMAT requirement, students often take the following courses. However, curricula and learning outcomes vary by school. Learners should contact their prospective institution or review the program's course guide for details.
Financial and Managerial AccountingStudents in this course draw conclusions from financial statements and apply research best practices to troubleshoot problems. Degree-seekers develop skills in cost behavior, organizational integrity, and organizational architecture. Learners also gain knowledge of key terms and subdisciplines. The introductory course does not typically require prerequisites.
OperationsThe class explores the process of developing products, performing quality control checks, and evaluating performance. Students analyze factors affecting efficiency, competitive advantage, and the lean supply chain. Professionals use these skills to improve operations efficiency and ensure successful supply chains.
Integrated TechnologyBusiness managers use various software suites to manage information, communicate with team members, and analyze business trends. Students in the course develop proficiency with IT tools and services. Learners memorize vocabulary and explore how enterprise solutions support companies' financial success. Graduates can use integrated technology skills to help companies develop new IT strategies.
Certifications and Licensure for MBA Students
Although earning a degree can help professionals improve their career prospects, some positions require additional qualifications. Industry certifications demonstrate that holders have mastered certain business topics. Typical certification requirements include passing an exam and possessing relevant work experience.
Finance professionals can earn this credential to demonstrate their skills and dedication to the financial services sector. The CFA Institute requires candidates to complete a course and pass a three-part exam. Candidates pay a one-time enrollment fee to access comprehensive exam preparation materials.
Professionals with at least two years of experience and a master's degree can pursue this certification. The certification exam covers skills including mitigating risk, analyzing market trends, and applying quantitative analysis best practices. The annual exam registration opens in May. Individuals with this credential often work at top banks and investment companies.
Managers in various industries can earn this certification to demonstrate statistical analysis and leadership skills. Candidates begin by completing a 6- to 8-hour self-paced course to earn the Six Sigma white belt. Additional belt programs train candidates to improve existing business processes and organizational synergy.
Scholarships for MBA Students
Some schools offering an MBA with no GMAT requirement provide generous institutional financial aid. However, students may need further assistance to cover all educational expenses. Learners can also apply for private scholarship opportunities. The scholarship programs below accept applications from MBA degree-seekers. Students should review each scholarship's requirements before applying.
Scholarships for MBA Students
||Who Can Apply
AfterCollege Business Student Scholarship
||Undergraduate and graduate students with a minimum 3.0 GPA may qualify for this scholarship. Applicants create an AfterCollege profile and submit a 200-word essay.
American Public Transportation Foundation Scholarships
||Applicants for these awards submit an essay, two recommendation letters, and FAFSA results. Candidates must also obtain sponsorship from an APTF member.
Jane M. Klausman Women in Business Scholarship
||Women earning an undergraduate or graduate degree in business may qualify for this competitive scholarship. Applicants must join a local Zonta club, and the application deadline varies by club.
Online MBA Programs With No GMAT Requirement
Florida International University
A public university based in Miami, Florida, FIU features an online MBA program serving ambitious professionals seeking career advancement. The QS World University Rankings for 2020 place FIU's online MBA ninth in the world and third in the United States.
FIU's flexible MBA offers three pacing options that allow completion in 18, 21, or 33 months. MBA students complete 12 core courses, including competitive strategy, accounting for managers, and organizational behavior. Learners also take two courses in one of eight specialization areas. These fields include business data analytics, marketing channel strategy, and strategic negotiations. MBA enrollees may also focus on sports management, real estate, and business law. The program includes an optional two-day residency.
Eligible applicants hold 3.0 minimum GPAs and bachelor's degrees from accredited schools. Application submissions include official transcripts, a resume, and a statement of purpose. This is an MBA program with no GMAT requirement, but applicants may submit optional GMAT/GRE scores. Some high-performing students receive up to $15,000 in scholarships.
FIU is regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges.
Texas A & M International University
Part of the Texas A&M International University system, TAMIU's A.R. Sanchez, Jr. School of Business in Laredo, Texas, runs an online MBA taught by multicultural faculty. Participants acquire core knowledge and skills in finance, management, marketing, and international business.
This Association to Advance Collegiate Schools of Business-accredited MBA features four program options in the fields of management, international banking and finance, international business, and international trade and logistics. The core curriculum covers leadership and ethics.
This 30-credit program costs just $10,074 in total tuition. Participants take seven-week, accelerated courses and can finish this MBA in 15 months. However, MBA applicants lacking prior business degrees must take several two-credit prep-module courses and may finish more slowly. Applicants with prior business degrees, 3.0 minimum GPAs on their last 60 credits, and three professional references may qualify for a GMAT/GRE waiver. TAMIU offers six start times annually.
TAMIU is regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges.
University of North Carolina at Chapel Hill
The cohort-based, online MBA at UNC-Chapel Hill emphasizes data-driven, strategic decision-making. UNC online MBA graduates report 39% salary increases within one year of graduating. For professionals with at least five years of experience, this is a no GMAT MBA program.
Accredited by the Association to Advance Collegiate Schools of Business, this STEM-designated program provides five concentration options. Some participants concentrate on entrepreneurship or consulting and strategy. Additional specialization options include finance, marketing, and data analytics and decision-making.
UNC-Chapel Hill's online MBA program offers quarterly, in-person summits at Chapel-Hill and in international cities. International summits cultivate global business acumen by exposing participants to new cultures and perspectives. On-campus summits offer learning tracks in areas such as leadership development, advanced management techniques, and consulting. Online MBA students must attend two summits during their program.
UNC-Chapel Hill is regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges.
Southeastern Oklahoma State University
Aspiring entrepreneurs and corporate leaders can complete Southeastern's accelerated, no GMAT MBA program online in just 12 months. Accredited by the Association to Advance Collegiate Schools of Business, this online MBA program includes real-world experiences and exposes learners to a network of professional colleagues.
This highly ranked, 100% online MBA features eight core courses in foundational business disciplines such as accounting, finance, and economics. Coursework also covers key methods for business research, behavior management, and data analysis. MBA students also take four courses in one of fourteen specialization areas. Unique MBA concentration offerings include Native American leadership, women in leadership, and aerospace logistics. Students without a prior business degree complete four, one-week leveling courses.
Southeastern's affordable online MBA costs just $330 per credit – $11,880 total. This no GMAT MBA program considers applicants with 2.5 minimum GPAs and bachelor's degrees from accredited institutions.
Southeastern is regionally accredited by the Higher Learning Commission.
University of Wisconsin-La Crosse
UW's La Crosse campus provides an online MBA serving various professionals seeking career advancement. UW-La Crosse MBA students often include professional engineers, healthcare providers, and businesspeople.
This 36-credit program includes four business essentials credits, 22 core credits, and 10 elective credits. Learners may test out of business essentials credits, which cover financial, economic, and statistical analysis. The 22-credit core consists of seven courses in leadership, change navigation, and strategic competition in a global environment. Learners also take an orientation course that plans their success and a capstone course that refines that plan.
MBA elective offerings span diverse topics such as managing workplace stress, work-family issues in contemporary times, and E-business fundamentals. MBA elective options include contract law, sustainability and organizational management, and nonprofit management and marketing.
Eligible MBA applicants hold 2.75 minimum GPAs, bachelor's degrees from regionally accredited schools, and a 475 minimum GMAT score or comparable GRE score. Applicants with advanced degrees, relevant work experience, or certain certifications often qualify for GMAT/GRE waivers.
UW-La Crosse is regionally accredited by the Higher Learning Commission.
A public university based in Emporia, Kansas, ESU offers an accelerated online MSIT/MBA program for professionals with business or technical experience. ESU's Association to Advance Collegiate Schools of Business-accredited MSIT/MBA program provides small class sizes and one-on-one mentoring. Enrollees do not need technology backgrounds to enter this three-year, 51-credit dual-degree program.
This STEM program comprises 27 IT training credits, 21 business leadership training credits, and three electives credits. The 48-credit core includes coursework in project, financial, and marketing management. IT core courses cover systems analysis and design, database management, and application programming. Participants also study business analytics, managerial economics, and information systems for managerial decisions.
MSIT/MBA applicants need either a bachelor's or a master's degree from a regionally accredited school. Eligible applicants need a 3.0 minimum GPA or a 2.65 bachelor's GPA and three years of technology leadership. GPA requirements only pertain to the 60 most recent credits completed. ESU currently waives GRE/GMAT requirements due to COVID-19.
ESU is regionally accredited by the Higher Learning Commission.
University of North Carolina Wilmington
The Cameron School of Business at UNC Wilmington runs an online MBA that focuses on leadership and critical thinking. This program attracts working professionals seeking career advancement. Online MBA enrollees may pursue specialization in business analytics, finance, healthcare management, and international business. Learners complete this 36-credit MBA in as few as 12 months. NC residents pay $15,855 in tuition and fees.
The curriculum differs by specialization, but all online MBAs complete several core business courses. Core coursework covers business law, economics, and operations management. Learners also study business analysis, information analysis, and accounting.
Applicants need a bachelor's degree from a regionally accredited school, a 3.0 minimum GPA or progressive professional experience, and two years of professional work experience. Application materials include a resume and cover letter, two recommendation letters, and GMAT/GRE scores. Applicants with 3.2 or higher GPAs, at least five years of managerial experience, or an advanced degree receive GMAT/GRE waivers.
UNCW is regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges. UNCW's online MBA program is programmatically accredited by the Association to Advance Collegiate Schools of Business.
A public research university in Greenville, ECU created the first online MBA program in North Carolina. Since 2005, ECU's highly ranked MBA has provided affordable, good-quality online education for working professionals. Enrollees do not need prior business coursework for this 18-course MBA. However, students may waive seven foundational courses if they demonstrate prior completion of equivalents.
This flexible, self-paced program allows learners to take 1-5 courses per semester. Interested students can focus their studies and earn a certificate in one of nine areas, including sustainable tourism, project management, and management information systems. Other possible focus areas include hospitality management, supply chain management, and business analytics.
ECU's streamlined application process requires applicants to hold a bachelor's degree, a 2.7 minimum GPA, and a 450 minimum GMAT score. This no GMAT MBA program grants GMAT waivers for applicants with advanced degrees or graduate certificates, CPA licenses, or 3.0 minimum GPAs and undergraduate accounting degrees. ECU also waives standardized testing for applicants with qualifying levels of academic honors or professional experience.
ECU is regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges.
The online MBA at Alabama's Auburn University emphasizes collaboration and faculty support. This 13-course program includes nine core courses and four electives in a concentration field of choice. MBA students can concentrate in finance, information systems, or business analytics.
This part-time program allows participants to complete their MBA at their own pace over a six-year period. Auburn's online MBA graduates finish in an average of 31 months. Required courses cover financial, quantitative, and strategic analysis. Core coursework also includes cost analysis and systems, marketing and consumer theory, and organizational leadership.
Applicants need an undergraduate degree, two years of professional experience, and U.S. residency. U.S. military personnel need not meet residency requirements. Due to COVID-19, this is a no GMAT MBA program for Spring Semester 2022 applicants.
Auburn is regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges.
Mississippi State University
Mississippi State, MS
Located in Starkville, MSU offers a flexible online MBA accredited by the Association to Advance Collegiate Schools of Business. MSU offers a regular MBA and an MBA for professionals and managers.
MSU's 30-credit MBA requires prerequisite coursework in fields such as accounting, microeconomics, and statistics. Participants also take courses in strategic management, supply chain and operations management, and business decision analysis. MSU allows transfer of up to six graduate credits.
Eligible MBA applicants hold bachelor's degrees from accredited schools, competitive GPAs, and competitive GMAT/GRE scores. During 2021, MSU offers this as a no GMAT MBA program due to the COVID-19 pandemic.
MSU is regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges.
A public university in Glassboro, New Jersey, Rowan features a flexible online MBA with part-time and full-time attendance options. Participants may complete this accelerated MBA entirely online through eight-week courses. Rowan also offers hybrid options for learners who wish to commute to campus on a more part-time basis.
Rowan's 36-credit program entails nine core courses and three electives. Required courses include marketing management, management information systems, and managerial decision-making. Enrollees also study organizational strategy management, international business, and financial decision-making. Elective course offerings include electronic commerce, corporate entrepreneurship, and strategic human resource management. Students lacking prerequisite coursework complete additional courses.
Applicants need bachelor's degrees, a 2.5 minimum undergraduate GPA, and a 450 minimum GMAT/GRE score. Many applicants qualify for a GMAT/GRE waiver. Application materials include recommendation letters, a resume, and a professional objectives statement. Rowan offers six start times annually.
Rowan is regionally accredited by the Middle States Commission on Higher Education.
Louisiana State University and Agricultural & Mechanical College
LSU's E.J. Ourso College of Business offers an online MBA for experienced professionals seeking leadership careers. LSU's program cultivates critical analysis, management, and leadership skills. Participants can complete this 36-credit program in as few as 18 months.
Learners complete five required core courses in financial accounting, management, and firm economics. MBA students choose three additional, customized core courses in topics such as cost accounting, information systems, and organizational behavior. LSU's focused MBA also requires three electives in a specialization of choice. Specialization options include healthcare management, data analytics, and emerging technology. Data analytics MBA graduates receive a graduate certificate in analytics along with their MBA.
MBA applicants need a bachelor's degree from an accredited school, a 3.0 minimum GPA, and three years of professional experience. Candidates who meet these prerequisites receive a GMAT/GRE waiver. Applicants submit a statement of purpose, two recommendation letters, and a resume.
Based in Baton Rouge, LSU is regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges.
University of Nebraska-Lincoln
UNL's MBA program features specializations in business analytics, finance, and human resource management. MBA students may also choose to concentrate in international business, marketing, and supply chain management. Each concentration features its own curriculum, including elective options. UNL's leading career center helps MBA students set goals and plan for their future. UNL's online MBA costs $650 per credit.
Eligible MBA applicants hold a bachelor's degree from an accredited school. MBA application requirements include a personal statement, resume, and three references. Applicants must also submit recent GMAT scores of at least 600 (recommended) or the GRE equivalent. For applicants currently in medical or law school or holding these degrees, this is an MBA program with no GMAT. Applicants with seven years of significant professional decision-making experience also may receive a waiver.
UNL is regionally accredited by the Higher Learning Commission.
ASU in San Angelo, Texas provides an online MBA program with no GMAT for qualifying students. ASU's MBA emphasizes organizational decision-making and global perspectives. Graduates often pursue leadership positions in public, private, and corporate organizations. This MBA program offers specialization and certificate options in healthcare management.
Accredited by the Association to Advance Collegiate Schools of Business, ASU's MBA comprises 30 credits and can take as few as 12 months to finish. Enrollees study management accounting, managerial economics, and financial management. Additional course topics include advanced data analytics, operations and supply chain management, and strategic management in a global environment.
This MBA program engages learners with faculty through joint research projects. Student organizations provide additional networking and professional development opportunities for MBA students. Some MBAs learn about international business through summer study abroad programs in Europe.
ASU is regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges.
South Carolina's Clemson University runs a part-time online MBA. This new MBA allows aspiring managers and executives to advance their education through synchronous (live video conferencing) or asynchronous (recorded lecture) course participation.
Clemson's online MBA comprises 27 core credits and nine elective credits, plus 13 foundation credits for students lacking equivalent undergraduate business coursework. Clemson's MBA supports students' professional development through networking opportunities, conferences, and career planning services. Clemson also offers short-term study abroad experiences.
Online MBA applicants need at least two years of full-time professional experience and a bachelor's degree from an accredited school. Application materials include official transcripts, a resume, and two recommendation letters. Applicants may need to undergo admissions interviews and submit GMAT scores also. Enrollees can start their MBA during the spring, summer, or fall semester.
Clemson is regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges.
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