Best Online Masters in Business Degrees for 2023

Master's Degrees in Business Career Options & Salary

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No matter whether you choose a face-to-face program or an online one, if you plan to complete a master’s in business degree, or even a Master of Business Administration (MBA), you will be spending up to the next two years taking classes, even if you choose from one of many available online MBA programs. You'll need to have a bachelor's degree if you plan to enroll in a master's degree in business or business management, or even a graduate degree in operations or a degree in economics. There will be similar requirements to enter in-person or online MBA programs.

Full business master's degree programs will usually offer you real-world experiences, perhaps in the form of an internship, where you can practice using the knowledge you've gained in real-world situations. With this experience, management professionals will walk into their next management positions with extra knowledge of various issues and situations.

Because you already have an undergraduate business degree, you don’t have to worry about taking any more general education courses; instead, you’ll take courses focused on your master's in business or a master's of business administration (MBA) and your concentration, which might be in human resource management, operations management, supply chain management, project management, financial management, strategic management, international business, operations management, marketing management, global economics, etc. Core courses in business administration programs and any similar master's degree program will offer you strong analysis skills in business analytics, entrepreneurial skills, and more as you prepare for higher-level roles and job opportunities. These might include occupations such as those of business administrators, analysts, financial examiners, a health service manager, or other management positions and career advancement options.



A master's degree in business or business management degree programs are rightfully popular and highly sought. Employers are always seeking qualified business school graduates who can start their jobs and make their way in the business world with little supervision. Some of the benefits of earning a graduate degree from business programs or an MBA program include:

  • Added credibility — You can ask for the opportunity to work on a project that challenges your skills and actually takes you out of your comfort zone. Or you can start a solopreneur business that forces you to use everything you've been learning in your business master's degree.
  • Added self-confidence — With the knowledge and experience you now have, you’ll be able to approach problems and new situations easily. You’ll learn new skill sets that you’ll use often in your position.
  • Skills that transfer — What prospective business students can learn during their master's in business degree programs should easily transfer into various industries. Your master's degree in business, business management, or business administration (MBA programs) should expose you to best practices that will serve you well no matter what industry roles you end up in, and require you to use and expand leadership skills and entrepreneurial skills you may not have known you had. Some of these transferrable skills include knowledge in project management, financial management, strategic management, business analytics, and more that can serve all business professionals well.
  • Lifelong curiosity — Completing in-person or online master's degree programs will allow students to set their curiosity and questioning nature loose.


An online MBA program is self-limited in that you only learn about general business knowledge. Yes, that knowledge adapts to several disciplines, such as marketing or finance. But, if you want additional specialization, you may need something different or extra, such as a concentration, which could make your education take longer to complete.

  • An MBA program allows you to take — a few classes in various disciplines. The reasoning behind this is so you can learn how to see the big picture. If you have already worked professionally in business or an NGO, this will be good for you. But if you are going to be new to the world of business, you may need more exposure.
  • A Master of Science — in Business is actually created to be much more specialized than an MBA program. You’ll notice several MS programs in several fields, such as an MS in Marketing or even an MS in Sport Management. Just looking at the degree titles, you can see just how widely you’ll be able to branch out with a master of science in a business discipline.
  • Prospective MBA program students may need to complete — their master’s degree programs at the same time as their bachelor’s, or already have years of experience as working professionals, just to get into a master’s program.
  • Distance learners — especially will find that the sheer number and variety of online MBA programs, and online master's degree programs, available can really complicate your school search. Graduate degree programs in business can also have a huge variety of specializations, so you'll need to think carefully about where your career is headed before choosing one. MBA programs are especially known for their variety, with specializations including basic business management, human resource management, international business, marketing management, business education, etc.

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What are the Best Online Business Masters Programs?


University of Florida

  • Net Price: $9,809
  • Retention Rate: 97%
  • Graduation Rate: 91%
  • Total Enrollment: 55,781
  • Undergrad Students: 34,876
  • Graduate Students: 20,905
  • Diplomas Awarded: 759
  • Grads Salary: $75,000
  • Student-to-faculty: 17:1
  • University of Florida

University of North Carolina at Chapel Hill

  • Net Price: $11,508
  • Retention Rate: 97%
  • Graduation Rate: 90%
  • Total Enrollment: 31,641
  • Undergrad Students: 19,845
  • Graduate Students: 11,796
  • Diplomas Awarded: 702
  • Grads Salary: $74,000
  • Student-to-faculty: 15:1
  • University of North Carolina at Chapel Hill

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Babson College

  • Net Price: $29,105
  • Retention Rate: 94%
  • Graduation Rate: 94%
  • Total Enrollment: 3,684
  • Undergrad Students: 2,576
  • Graduate Students: 1,108
  • Diplomas Awarded: 331
  • Grads Salary: $82,000
  • Student-to-faculty: 16:1
  • Babson College

Purdue University

  • Net Price: $14,619
  • Retention Rate: 91%
  • Graduation Rate: 83%
  • Total Enrollment: 50,344
  • Undergrad Students: 37,806
  • Graduate Students: 12,538
  • Diplomas Awarded: 163
  • Grads Salary: $79,000
  • Student-to-faculty: 14:1
  • Purdue University

Stevens Institute of Technology

  • Net Price: $40,828
  • Retention Rate: 93%
  • Graduation Rate: 87%
  • Total Enrollment: 8,287
  • Undergrad Students: 4,064
  • Graduate Students: 4,223
  • Diplomas Awarded: 196
  • Grads Salary: $93,000
  • Student-to-faculty: 12:1
  • Stevens Institute of Technology

Virginia Polytechnic Institute and State University

  • Net Price: $20,109
  • Retention Rate: 92%
  • Graduation Rate: 87%
  • Total Enrollment: 37,279
  • Undergrad Students: 29,760
  • Graduate Students: 7,519
  • Diplomas Awarded: 126
  • Grads Salary: $79,000
  • Student-to-faculty: 14:1
  • Virginia Polytechnic Institute and State University

University of Detroit Mercy

  • Net Price: $17,911
  • Retention Rate: 83%
  • Graduation Rate: 67%
  • Total Enrollment: 5,227
  • Undergrad Students: 2,924
  • Graduate Students: 2,303
  • Diplomas Awarded: 65
  • Grads Salary: $85,000
  • Student-to-faculty: 11:1
  • University of Detroit Mercy

Missouri University of Science and Technology

  • Net Price: $13,589
  • Retention Rate: 85%
  • Graduation Rate: 63%
  • Total Enrollment: 7,241
  • Undergrad Students: 5,696
  • Graduate Students: 1,545
  • Diplomas Awarded: 24
  • Grads Salary: $83,000
  • Student-to-faculty: 19:1
  • Missouri University of Science and Technology

Northeastern University

  • Net Price: $38,927
  • Retention Rate: 97%
  • Graduation Rate: 91%
  • Total Enrollment: 28,167
  • Undergrad Students: 15,747
  • Graduate Students: 12,420
  • Diplomas Awarded: NA
  • Grads Salary: $81,000
  • Student-to-faculty: 15:1
  • Northeastern University

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Worcester Polytechnic Institute

  • Net Price: $48,230
  • Retention Rate: 94%
  • Graduation Rate: 87%
  • Total Enrollment: 7,230
  • Undergrad Students: 5,224
  • Graduate Students: 2,006
  • Diplomas Awarded: 29
  • Grads Salary: $89,000
  • Student-to-faculty: 14:1
  • Worcester Polytechnic Institute
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Overview of a Master's in Business

What Business Master’s Degrees are Available?

The Master’s in Business Administration isn’t the only master’s in business that you can earn. It is certainly the best well-known, but there are many others for you to consider, especially if you’re interested in specializing.

  • Master of Science in Finance (MSF) is one of the master’s specializations in the business field. Land a position working as a financial analyst or manager.
  • Master of Accountancy (MAcc) is one way to complete the 150-hour requirement for credentials for your Certified Public Accountant (CPA) credential.
  • Master in Management (MiM) is a shorter master’s business degree. If you want more specialization than an MBA offers, but you are looking for something to enhance your previous experience, this is a good choice.

Admission Requirements

  • Take your GMAT or GRE if you will be majoring in an MBA or business master's program.
  • GMAT vs. GRE: Which test is better?
  • Write a one-page statement of purpose and include your professional experience, career goals, educational background, etc.
  • Request and send two letters of reference from either academics or professionals in business.
  • Include your current resume.
  • If you will be an international student, submit a TOEFL score of a minimum of 250 computer-based, 100 internet-based, or 600 paper-based.
  • If you are an AMBA applicant, you must be able to demonstrate a minimum of one year of professional work experience. EMBA applicants should have eight years of managerial experience.

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How Long Does It Take to Earn a Master’s Degree in Business?

The time required to earn your degree varies from program to program. Typically, you’ll spend two years studying before you earn your MBA. If you are staying in school after earning your BBA, or earning your bachelor’s and master’s simultaneously, you may be able to earn your MBA in one additional year.

If you plan to focus on a concentration within business, you’ll take these focused courses as a part of your overall MBA program. This will help you to prepare to earn a certification, if needed, for any advanced positions you are considering. While you may worry about spending up to two more years in school, your effort will be worth it.

Potential Careers in Business with a Master’s Degree

  • Vice President, Human Resources:
    In this position, you’ll be involved with several aspects of HR (contracts, compliance monitoring, creating new policies, and team leading). It will also be your responsibility to lead your HR employees and ensure the proper interpretation of federal labor laws as they pertain to employees and contractors.
    Salary: $137,100
  • Chief Financial Officer (CFO):
    In this position you’ll oversee and run the financial operation of your organization. You’ll also be responsible for leadership with both the accounting and finance departments, ensuring they are complying with laws and company policies. You ensure they are operating with efficiency.
    Salary: $133,100
  • Company President:
    As the top executive in the organization, you’ll be responsible for creating and implementing strategic vision, along with your other executives. It’s your role to keep the company accountable to the public, its policies, and its stakeholders.
    Salary: $149,300
  • Chief Marketing Officer:
    Here, you’ll take the lead in creating the marketing and sales group’s visions for marketing and sales campaigns. You’ll need to be able to think ahead and be creative as you help to determine the direction in which sales and marketing will go.
    Salary: $173,600
  • Chief Operating Officer:
    In this position, you’ll rank right below the CEO in your company. It’ll be your job to determine the daily operations within the company, setting standards for the company and its work. You’ll work with middle managers and directors to ensure the company maintains high standards.
    Salary: $142,800

Salary by Occupation

Occupations Entry-Level Mid-Career Late-Career
Financial Analyst $55,300 $68,900 $75,200
Accountant $46,700 $55,400 $58,300
Human Resources Manager $51,400 $68,500 $75,100
Supply Chain Manager $61,900 $85,600 $95,100
Accounting Manager $56,800 $75,400 $71,300
Public Relations Manager $44,500 $72,300 $75,300
Content Marketing Manager $46,500 $72,100 $85,500

Options to Advance

With your MBA in hand, you’ll just about be at the top of the corporate food chain. However, if you are still looking to add growth to your resume, or your education, there are still a few options to allow you to advance.

If you’re looking at making a lateral move, you might want to consider earning a post-graduate certificate. These are offered at schools all over the country and many of them are available online. With this, you can make a move into a specialization, even if you didn’t choose one when you were originally earning your master’s degree.

Another good option is professional certification. If you’re looking to add the perfect certification to your resume before you apply for a top job, you might want to consider certification from the CEO Institute. They offer certification for middle management, senior management, and CEOs themselves.

However, if you are looking to move into a completely different field, but you don’t want to start over near the bottom, you may need to earn another master’s degree. For example, if you want to move from a corporation into health services administration, a master’s in healthcare Administration (MHA) may better serve your career goals.

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