Best suited to talented, ambitious, and motivated self-starters, entrepreneurship MBA programs typically require 36-54 credits of advanced business management coursework. Degree length depends on program pace, requiring 1-4 years of focused, full- or part-time attendance.
MBA students typically complete about 21-33 credits of core coursework in business areas such as management and microeconomics, plus 9-15 credits of entrepreneurship-focused electives. Many MBA core curricula include capstone projects in which learners create business plans for an organization.
Earning an online MBA in entrepreneurship can qualify graduates for various lucrative occupations. The Bureau of Labor Statistics (BLS) reports that business and financial professionals earned a median annual salary of $68,350 in 2018 and projects these occupations to grow 7% from 2018-2028.
An MBA in entrepreneurship qualifies graduates for salary advancement in their current positions or promotions to higher-paying jobs. PayScale salary data indicates a $100,000 average annual salary for MBAs in entrepreneurship, and entrepreneurs who start successful businesses stand to earn considerably higher salaries.
Careers in Entrepreneurship
Every business began as a new venture, so the entrepreneurship field can include businesses of all sizes in all industries. Entrepreneurial professionals may found or manage companies in diverse industries, including construction, finance, manufacturing, and health services.
Not all entrepreneurship MBAs start businesses. Some professionals use their degrees to pursue other consulting or leadership roles. Companies may hire MBAs to innovate or expand business areas or projects, and some MBAs become social entrepreneurs who start or lead nonprofit or for-profit ventures dedicated to social equity and opportunity. See below for descriptions of popular roles for graduates with an MBA in entrepreneurship.
See Salary and Career Outlook For Entrepreneurship MBA Graduates
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Online MBA Programs for You
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How to Choose a Program in Entrepreneurship
Choosing an MBA in entrepreneurship program can prove a daunting task, but the list below can help aspiring learners inform their choices. Usually more costly than other master's programs, MBA programs tend to boast high returns on investment, which makes them worth the price.
Online MBA in entrepreneurship programs vary widely in curricula, pace, and requirements, so aspiring MBA students should make sure to pick programs that align with their career goals and schedules.
Ask for information on how lessons are delivered in the program Many online programs allow students to learn asynchronously, watching lectures and participating in discussions at their convenience. However, some programs require online students to attend live virtual class sessions at specific times, so students should consider their schedule constraints when choosing a program format. Additionally, some programs feature cohort- and/or team-based learning, while others involve more independent work. Students who enjoy collaborative learning often choose cohort-based MBA programs involving interactive discussions and group projects.
Get details on what support is available to students Some schools and MBA programs offer more technical, academic, and career support resources than others. Students often benefit from individualized advising, as informed guidance and planning can save learners time and money on a degree. Online IT support, tutoring, and career counseling may also help online learners at various stages of their program.
Estimate your expected program costs Tuition prices vary widely by program, but high-quality MBA programs often charge about $60,000 in tuition. Distance learners tend to pay lower tuition rates than on-campus students while saving money on residency and commuting costs. Aspiring learners should examine prospective programs' data on student outcomes and return on investment (ROI) to ensure they choose a program that supports positive career and salary outcomes. Good MBA programs typically pay for themselves by increasing graduates' salary potential.
Ensure the school's admission requirements align with your expectations Most MBA in entrepreneurship programs only consider applicants with bachelor's degrees from accredited colleges or universities. Applicants usually submit recommendation letters, application essays, and resumes demonstrating two or more years of professional experience. Many schools also require GMAT/GRE test scores, with waivers available to applicants with relevant professional and/or academic experience. Many MBA programs call for business-related prerequisites in accounting, finance, or economics. MBA students lacking prior coursework from business-related bachelor's degrees may potentially complete prerequisites through foundation courses at the beginning of their MBA program.
Compare student outcomes data Outcome data can indicate a good consulting MBA program. Programs with large percentages of alumni that secure employment or salary increases demonstrate a strong commitment to real-world expertise. This data can also demonstrate a program's networking potential, employer reputation, and quality of career services. Furthermore, schools boasting low loan default rates show that their alumni gain employment that adequately balances their degree investment.
Look for partnerships with local businesses and communities Student outcome data offers an excellent measure of MBA program quality. Indicators of high academic quality include high graduation rates, high post-graduation employment and/or graduate school enrollment rates, low loan default rates, and high net present value or ROI. Other quality indicators include small class sizes and diversified program offerings. Many online MBA program websites highlight their top statistics, and some provide links to more detailed student outcome data. Studying and comparing this data across programs can help prospective learners identify high-quality programs.
Look for partnerships with local businesses and communities Established, reputable MBA programs often maintain successful partnerships with local businesses and communities. These connections often offer MBA students internship opportunities, which provide on-the-job learning and networking. Some internships lead to employment opportunities after graduation.
Make sure the program is accredited High-quality MBA programs boast programmatic accreditation from one of three top MBA program accreditors: the Accreditation Council for Business Schools and Programs, the Association to Advance Collegiate Schools of Business, or the International Accreditation Council for Business Education. Additionally, top MBA programs appear at schools with regional accreditation. These schools meet high academic standards according to accrediting agencies approved by the Council for Higher Education Accreditation.
Speak with current students and alumni Current students and alumni often know the most about a program's advantages and disadvantages, so applicants should speak with these experienced individuals, if possible. They can provide information not included on program websites, such as the best approaches and courses to take during an MBA program.
Entrepreneurship Curriculum
MBA program curricula vary considerably. For example, some entrepreneurship MBA programs focus heavily on cultivating general management skills, while others feature more specialized tracks and/or elective flexibility. Many programs also require students to complete capstone projects or internships, so applicants should make sure they can meet such requirements.
See below for sample course descriptions, which may appear in MBA entrepreneurship programs. Keep in mind that course offerings vary by program.
Comparison of Entrepreneurship Degrees and Specializations
MBA programs cultivate skills and expertise in management and business growth, preparing graduates to become founders or leaders of startups or other entrepreneurial ventures. A master's in entrepreneurship resembles an MBA, but core management coursework tends to focus more on small business contexts. Master's in leadership programs take a more general approach, covering management knowledge and skills relevant to many kinds of organizations.
| Degree Type | Description | Potential Career Paths |
|---|---|---|
| MBA in Entrepreneurship | These degrees give candidates the skills they need to start new businesses and manage companies as they grow. Core MBA courses include marketing, finance, leadership, and organizational behavior. Specialization courses give graduates skills in venture capital, lean management, and business growth strategies. | Leadership roles in startup organizations like chief operating officer, founder, and venture capitalist. These professionals get new business ideas off the ground. |
| Master's in Entrepreneurship | These degrees teach many of the same skills as MBAs with this concentration. However, core business courses focus more on how business functions work in small companies. For example, students learn about marketing in cash-strapped startups rather than global corporations. | Founders of local, small businesses. These entrepreneurs wear many hats to keep their companies afloat. |
| Master's in Leadership | These degrees focus on management for all types of organizations, including corporations, small businesses, government organizations, and nonprofits. Students take courses in promoting collaboration, implementing change, and building company cultures. These courses give them the skills they need to manage large groups of employees and affect change within institutions. | Managers and top executives in all types of organizations. |
Cost and Length of an Entrepreneurship Degree
Like most high-quality MBA programs, top entrepreneurship MBAs usually feature high tuition rates, typically costing $30,000-$80,000. Additional costs may include books, living expenses, and university fees. However, online programs often boast lower tuition rates than on-campus programs. The career and salary advancement that accompanies an MBA often compensates for the program's cost within a few years.
An MBA in entrepreneurship typically comprises 36-70 credits, though this range depends on whether programs treat foundational business courses as prerequisites or as part of the MBA. Students boasting successful performance in an undergraduate business program can typically transfer these credits toward the MBA.
Programs following a traditional academic calendar with 15-week semesters usually take full-time students about two years to complete. Part-time learners may take 3-4 years to graduate. However, accelerated MBA programs featuring intensive eight-week courses allow students to graduate faster. Full-time students in an accelerated program may graduate in as little as one year.
Cohort-based programs, such as James Madison University's part-time, blendedMBA program in innovation, often require students to move through the MBA on a set schedule. Busy working adults should consider their schedule constraints carefully before enrolling in programs with restrictive timelines.
Entrepreneurship FAQs
Is an MBA useful for an entrepreneur?
Earning an MBA in entrepreneurship can help current and future entrepreneurs cultivate advanced business skills in the most important areas of entrepreneurship. Core topics include accounting, leadership, business strategy, and human resource management.
What MBA program is best for entrepreneurs?
Small business owners may benefit from a master's in entrepreneurship, while aspiring innovators working in larger companies often opt for MBA degrees. Entrepreneurs typically benefit the most from programs featuring courses relevant to their industry, but general MBA core courses also create opportunities for advanced skills development.
What can you do with a degree in entrepreneurship?
Degrees in entrepreneurship offer the diverse skill set that business founders need to succeed. These degrees also make graduates attractive to companies seeking innovative, creative professionals with versatile skills.
