Earning an online Master’s of Business Administration in Virginia opens the doors for many opportunities for business professionals, such as higher wages, leadership development, networking connections, and skills that can quickly transfer to many advanced leadership positions. Some industries such as the Food, Beverage, & Tobacco sector see more than an average of 60% increase after completing an MBA. This 2021 ranking covers the Most Affordable Online MBA Programs in Virginia. Prospective students will be able to quickly find the most affordable online MBA choices from some of the most well-recognized business schools in Virginia. Many people have dreams of advancing into senior management positions. But all too often, these top-level jobs require a graduate degree, specifically an MBA. An affordable online MBA is an excellent option for those who are already busy professionals.
Most Affordable Online MBA Programs in Virginia
It can be challenging to carve out the time to commit to earning a top MBA program in Virginia. Careers, family life, hobbies, and other responsibilities often prevent potential students from attending conventional on-campus MBA programs. Busy professionals can have a hard time accommodating long commutes and in-person class sessions. For these students, finding an affordable and flexible online MBA from one of Virginia’s top business schools could be an ideal solution. All of the online MBA programs in this list are accredited and include at least a portion of online coursework. Some even offer accelerated options that allow students to complete their degree in as little as one year. We hope that you find this ranking of the most affordable online MBA programs in Virginia helpful as you plan for the next step in your educational journey.
This ranking list of the Most Affordable Online MBA programs in Virginia is solely based upon each top online MBA’s base tuition rate. The most prestigious programs in the state were identified by collecting data from top MBA rankings systems. The ranking order in this list is reliant upon the base tuition of the entire online MBA degree, not including fees and books. All tuition data was taken directly from each program’s website. This list of degrees run the gamut on price affordability from under $13,000 to over $100,000. The Affordability Score for each program provides a snapshot of how the online MBA program’s cost ranks relative to the others in this list.
Students enrolled in the business programs offered through the College of Business & Economics at Longwood University can earn their distance MBA in as little as ten months. The College carries esteemed AACSB accreditation and is listed at #90 on U.S. News and World Report’s national Best Online MBA Programs ranking. The base tuition for this top-notch online MBA program is less than $15,000. This price point is significantly less than competitors in the area and includes a curriculum that is designed with busy professionals in mind. Students can choose from a General Business track or Real Estate track. General students will focus on decision-making, critical thinking skills, technology, and leadership skills in addition to their core courses. Those specializing in Real Estate will dig deep into topics such as negotiation, conflict resolution, strategic marketing, data management, and more. These students will also learn about real estate at the local, regional, national, and international levels.
The online MBA at Radford University is very affordable at less than $15,000. This distance Master’s of Business Administration is available through the Davis College of Business and Economics. The program is AACSB accredited and delivered in a unique tri-modal system that allows students to participate fully online or in the classroom in 90-minute sessions scheduled either on a weekly or bi-weekly basis. These sessions are recorded, which makes hybrid learning a breeze. Regardless of the delivery method, the cost, curriculum, instruction, quality of faculty are the same. Most students complete this program in two years, but many choose to work towards their degree on a part-time basis as well. In fact, U.S. News and World Report recently listed the Davis Master’s of Business Administration among the Best Part-Time MBA’s in the country. The Princeton Review also has recognized the College on its list of the Best Business Schools every year since 2012.
U.S. News and World Report ranked Strome College of Business #67 in Best Online MBA Programs and #45 Best Online MBA Programs for Veterans in 2021. The Princeton Review also recently ranked Strome at #25 on their Best Online MBA Programs list. Old Dominion University’s fully-distant online MBA is AACSB accredited, affordable, and taught in fast-paced eight-week increments. In addition to their degree, many students choose to complete add-on certificates in high-interest areas such as Modeling, Simulation, & Visualization; Maritime, Ports, & Logistics Management; Supply Chain Management, Public Procurement & Contract Management, or Business Analytics & Big Data. Delivery formats for this online program are flexible and include full-time, fully asynchronous, and part-time hybrid. Full-time business students can complete their degree in as little as four semesters, while the part-time option follows a six-semester timeline. Participants also have the flexibility to change formats to meet their needs throughout the program.
James Madison University’s online MBA offers both online and on-campus components. Master’s of Business Administration students learn from world-class faculty and expand that knowledge through professional workshops, networking opportunities, and an optional 10-12 day international residency, all for a low price that falls at less than $30,000. Concentrations are offered in Executive Leadership, Information Security, or Innovation. The College of Business’ online MBA has many accolades, including recently earning the #1 spot on U.S. News and World Reports ranking of The Best Online MBA Programs in V.A. and being listed at #13 by the Princeton Review on their list of the Best Online MBA’s in the nation. The College of Business at JMU is also one of only 186 business schools in the world that have earned AACSB accreditation in both business and accounting. Classes are small, with an average of only 25 students. Most program participants have an average of 11 years of work experience.
The Harry F. Byrd, Jr. School of Business at Shenandoah University includes a flexible and affordable online Master’s of Business Administration degree. Shenandoah’s online MBA can be completed in just one year for less than $35,000. Students who choose to work towards their degree on a part-time basis have the ability to work at a slower pace as needed. Concentrations are available in Digital Marketing, Cybersecurity Management, Esports Management, or Healthcare Management. Along with AACSB accreditation, this distance MBA also connects students with top-tier faculty, executives in-residence, and industry leaders who support students through one-to-one mentoring and coaching. All courses are taught in a Flex-Format through Zoom-enabled classrooms. Students can choose to attend all classes virtually or on-campus in Loudon or Winchester. Applicants will appreciate that there is no GMAT required for admissions and that the curriculum has a strong focus on real-world applications for career readiness.
VCU students can complete one of the most affordable online MBA programs in Virginia in two years for under $40,000. According to the website, tuition price is all-inclusive and includes course materials and software, social & networking events, parking, assessments, field exercises, simulations, and meals during on-campus residency. Classes are held virtually every week and are elevated by three-weekend residencies that take place over the course of the program. Applications open in April for early registration and June for regular admissions. Class sizes are small, with less than 40 students per course, and are taught by highly-qualified faculty. The School of Business carries esteemed AACSB accreditation and is ranked at #51 nationally in Best Online MBA Programs by U.S. News. The curriculum includes a deep dive into business issues such as globalization, innovation, cybersecurity, entrepreneurship, pricing, and risk management. A few of the courses within the program are Leading People & Organizations, Business Intelligence, Statistical Fundamentals, and Operations Management.
Virginia Tech’s Pamplin College of Business offers an AACSB accredited Master’s of Business Administration that can be completed entirely online for around $40,000. This distance MBA allows students to finish their degree in less than two years. The unique online format will enable students to complete half of their coursework asynchronously, while the other half is done synchronous weekend components. There are no GMAT or GRE requirements, and the curriculum format gives students flexibility along with the opportunity to meet and connect with their peers and professors virtually. Students also attend their classes in a cohort format that sets the program participants up for lasting relationships and unique networking opportunities. Year one of the curriculum walks students through business fundamentals using a case study method. During the summer semester, electives and specialization courses are taken. A few of the specialization options include Health Data Management, International Business, or Cyber Security. In their final year, students dive into advanced topics and complete an innovative capstone project.
The online MBA offered through George Mason University’s School of Business is a fully distance program that includes an optional week-long global residency. The GMU online Master’s of Business Administration can be completed on a part-time or full-time basis. Those who work towards their degree on the accelerated track can complete the program in two years. This online degree is competitively priced at less than $50,000 and is taught by the same highly qualified professors as George Mason’s on-campus programs. Online MBA students also have connections with GMU’s financial aid programs, as well as lifetime access to the University’s career services. Applicants from all professional and academic backgrounds are welcome to the program as long as they have completed at least two years of professional work experience. The core curriculum consists of foundational courses like Operations Management, Financial Reporting & Decision Making, Organizational Behavior, and Strategic Management.
William & Mary students complete their online Master’s of Business Administration in 12 courses and one on-campus residency. There is no GMAT requirement for this AACSB accredited degree, and it is offered at a price of less than $65,000. Class sizes are small, with an average of about 22 students per course. Students have three starting points throughout the year to choose from. All admitted students begin by completing a refresher course that covers economics, finance, statistics, accounting, and spreadsheets to ensure preparedness for the quantitative coursework encounter throughout the curriculum. The courses included in the degree program are varied and cover relevant topics like Organizational Behavior, Operations, Global Managerial Economics, Leadership for the 21st Century, and Integrated Technology. Students can also choose to complete a Foundations in Business Analytics Certificate. The online MBA at William & Mary is completed in a unique cohort format. There are more than 175 institutions of higher education represented within the program.
The distance MBA available through the Darden School of Business has the highest tuition rate on our list, at over $100,000. Darden students have two choices for their degree, either an Executive Master’s of Business Administration or Global Master’s of Business Administration. Both utilize synchronous online sessions twice a week with required attendance. The curriculum is the same for both MBA programs aside from the fact that EMBA students must participate in at least one weeklong global residency while GEMBA students must complete four. All students start and finish the program with a week-long leadership residency in Charlottesville, Virginia. Additional weekend residencies take place in Arlington. During weekend residencies, students begin class at noon on Friday and finish at 3 p.m. on Sunday. Darden online MBA students learn through a unique case method that utilizes many forms of teaching such as business simulations, coaching sessions, videos, peer mentoring, and carefully selected readings.
Online MBA programs in Virginia vary significantly in format, cost, and the length of time needed to complete each degree. It is essential to consider many variables when considering the best online Master’s of Business Administration program to meet your needs. Today’s busy professionals have the benefit of choosing from many delivery options. Those included on our list of the Most Affordable Online MBA Programs in Virginia were either completely online or hybrid programs. Before getting started, here are a few things to consider when searching for an affordable online MBA degree in Virginia.
How much will an online MBA in Virginia cost?
When researching affordable online MBA programs in Virginia, remember to consider the price per credit hour. From there, you can calculate the total cost by factoring in the program’s duration. Most reputable business schools offer transparent pricing, but some may have multiple fees to consider, such as books, out-of-state tuition fees, or technology costs. Of the 600 online MBA programs that exist across the nation, the average base tuition price is right under $30,000. The average tuition for this ranking is just over $45,000, with most of the program options falling under the $40,000 mark.
What is the job outlook for business professionals?
The Bureau of Labor and Statistics’ recent data showed that the average annual wage for business and financial occupations was $69,820 as of May 2019. This was much more than the median yearly salary for all fields, which was only $39,810. Taking learning to the next level through a top online MBA degree prepares students for success in academics but also provides opportunities to make invaluable networking connections and learn the real-world skills needed for consideration for top management positions. Earning an affordable online MBA program in Virginia is a choice that can make advancing a career accessible for even the busiest of lifestyles.
Are online MBA programs as reputable as on-campus degrees?
Online Master’s of Business Administration programs that are offered through accredited business schools typically deliver the same high-quality educational experience as on-campus options. Hybrid options are also often available. Hybrid programs provide the benefits of on-campus programs with the flexibility of completing assignments at your own pace. In many cases, the faculty that teach on-campus classes are also those who deliver online courses. Some distance programs even have real-time video components that allow students to participate in live lectures even if they are not able to be physically on campus. When earning a Master’s of Business Administration degree, the delivery method is simply a matter of preference, and accreditation is key.
Do I have to have an undergraduate degree in business to be eligible for an online MBA?
In general, each business school has a different stance on what they require as previous experience from applicants. Some programs choose to include a variety of career and educational backgrounds, while others prefer to open their programs to professionals who are well versed in the business industry. However, if you do not have an undergraduate degree in business, that does not mean that you won’t be able to earn an online MBA. Many of the programs with prior business degree requirements offer the option to take prerequisite courses that build on foundational skills before students enter into their program. Foundational MBA courses often cover topics such as Managerial Accounting, Marketing Management, and Organizational Theory.
If you are looking for a well-recognized, flexible, and affordable online MBA, Virginia has many programs to choose from.