There are many Master of Business Administration (MBA) programs in the country that are available online. Two barriers to enrollment can be the GMAT requirement and tuition cost, but affordable programs without the testing requirement are an option. Typically these programs take less than two years to complete, and each one has challenging courses that cover several business topics.
Types of Affordable Online MBA Programs with No GMAT Requirement
MBA for Working Adults
Working professionals can find an online MBA program that waives the GMAT if applicants meet certain requirements, like having three years of work experience and a GPA of 3.0 in their last 60 credits. Some schools may also waive the GMAT if applicants have a business major. These programs might emphasize general management and cover topics in marketing, supply chain, and accounting. Several of the courses could require students to work together in a distributed group. There can be up to 12 courses, which students can complete in 12 months. Tuition can run right around $5,000 per semester.
The Association to Advance Collegiate Schools of Business (AACSB) backs a small percentage of business programs, and with a program like this students are guaranteed a quality education. The MBA can be taken in an online format, and GMAT scores can be waived for high-performing applicants. Undergraduates with a 3.65 GPA, those with an advanced degree, or applicants with a 3.25 GPA and two years of professional experience are excused from submitting GMAT scores. Each term is seven weeks long in an online program like this, and students can enroll full-time or part-time. Full-time students can complete the degree in 12 months. A total of 36-42 credit hours are usually taken to earn the master's degree. The tuition could be less than $500 per credit.
MBA with Concentrations
There are other online MBA programs offering a number of concentrations, in areas like accounting, finance, entrepreneurship, healthcare management, human resources, and marketing that don't require GMAT scores. Some schools may offer an accelerated option, so students can complete the degree in 12 months. Other programs may take up to 15 months to complete close to 40 credits. Several enrollment periods throughout the year are typical. Applicants without the necessary education in business may have the opportunity to complete four, one-week, online foundation courses to learn the basics. Some programs cost around $600 per credit, while others may cost $12,000 total.
Program Admission Requirements
To be considered for admission into an online MBA program, students generally complete an online application. Most schools charge an application fee, which must be paid in order for the application to be processed. The second requirement requested by most online schools is college transcripts from undergraduate and graduate programs. The student's undergraduate GPA must be provided as well. Also, students should consider completing a bachelor's degree in business before applying. An alternative option is to complete foundation courses in business. This will give the student a solid basis for the master's program.
Students can find a number of online MBA programs that don't require the GMAT and are considered affordable. Some programs may take students 15 months while others are only a year long.