Online MBA Programs with No GMAT Requirement 2021

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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&A on MBA Programs With no GMAT Requirements

  • What is the GMAT used for?

    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.

  • How much does the GMAT cost?

    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.

  • How many years is an MBA degree?

    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.

  • Can I do a Ph.D. after an MBA?

    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.

Students 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.

The 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.

Business 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.

Chartered Financial Analyst

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.

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Financial Risk Manager

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.

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Six Sigma Certification

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.

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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.

  • AfterCollege Business Student Scholarship

    Who Can Apply: 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.

    Amount: $500

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  • American Public Transportation Foundation Scholarships

    Who Can Apply: Applicants for these awards submit an essay, two recommendation letters, and FAFSA results. Candidates must also obtain sponsorship from an APTF member.

    Amount: $5,000-$10,000

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  • Jane M. Klausman Women in Business Scholarship

    Who Can Apply: 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.

    Amount: $2,000

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Online MBA Programs With No GMAT Requirement 2021

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