Top 5 Affordable Online MBA Programs: No GMAT Required

| Staff Modified on April 26, 2022

Top 5 Affordable Online MBA Programs: No GMAT Required

Are you ready to discover your MBA program?

Whether your goal is to become the next CEO of a Fortune 500 company or you want to finally launch your own business and take control of your daily schedule, earning an affordable online MBA is a great way to progress towards your career goals without putting your current job on hold. If you've been putting off earning an online MBA because you haven't taken the GMAT, consider applying for online MBA programs with no GMAT requirements.

To help make your search easier, we've compiled a list of the best online MBA programs that do not require GMAT scores. We'll also discuss the benefits of earning an online MBA, common MBA curricula, and how to select the right program for your needs.

What Is the GMAT?

GMAT stands for Graduate Management Admission Test. Students take this timed, multiple-choice test online. Test-takers get three hours and seven minutes, which includes one 62-minute section, two 30-minute sections, and one 65-minute section. The purpose of the test is to determine a baseline of an individual's analytical, writing, quantitative, verbal, and reading skills.

Some schools set rigorous standards for GMAT scores, such as a minimum requirement of 740 or above. But luckily, you can still find many quality programs that don't require you to take the test at all.

Online MBA Programs for You

Grow your career, leadership, and business acumen with an accredited online MBA program.

Why Should You Get an Online MBA?

Earning an MBA opens more doors than you could imagine. This degree does more than just impress potential clients and employers. It also provides learners with the skills they need to effectively manage a business, whether it is a small enterprise or large corporation. On average, individuals with this degree earn $91,000 per year, according to PayScale as of December 2021.

This degree doesn't just position you to become a business owner. Professionals who earn their MBA often go on to become project managers or senior financial analysts. You could even start your own consulting firm to help entrepreneurs grow their businesses.

Earning this degree online allows you the flexibility to complete your education on your own schedule from anywhere with WiFi. Many full-time, in-person programs make it difficult to juggle a full-time job and maintain a healthy personal life. By pursuing your degree online, you can still earn money by working at your full-time job, and you can even apply what you are learning through your online studies to your current workplace.

What Can You Do With an MBA?

Chief Executive Officer

A chief executive officer (CEO) oversees an entire organization. They are in charge of making most major executive business decisions with help from a trusted board of advisors. CEOs help department directors set manageable goals and create strategic plans for reaching those goals. These professionals must also maintain positive relationships with company stakeholders to protect the company's future.

On average, CEOs make $156,520 per year, according to PayScale as of December 2021. The Bureau of Labor Statistics (BLS) projects employment of top executives to grow by 8% from 2020-2030.

Vice President, Operations

The vice president of operations is in charge of overseeing a company's day-to-day operations rather than big-picture concepts. These professionals must possess strong leadership and evaluation skills to help guide a business's performance. They must also evaluate resources to enhance their company's outputs, look for new revenue streams, and identify cost-efficient solutions to problems.

These executives make an average of $131,490 per year, according to PayScale as of December 2021. The BLS projects employment of top executives, including vice presidents of operations, to grow by 8% from 2020-2030.

Divisional Vice President, General Manager

A general manager divisional vice president typically oversees one division within a large company. They must ensure that the employees within their division have safe and healthy working environments where they can meet their goals. These VPs also aim to make their department more profitable and constantly evaluate ways to increase revenue.

According to PayScale, these professionals made $137,700 per year on average as of December 2021. Like other top executive positions, the BLS projects employment in this career to grow by 8% from 2020-2030.

Administrative Services Manager

Administrative services managers oversee supportive functions within organizations. Such services may include bookkeeping, office maintenance, and mail distribution. Common job responsibilities include creating goals for their department, overseeing maintenance of company equipment and electrical systems, and ensuring that work environments meet safety and health regulations.

On average, these professionals make $98,890 per year. The BLS projects employment in this career to grow by 9% between 2020 and 2030. Most of these professionals work 40 or more hours per week.

Project Manager

These professionals oversee projects on behalf of a company. Typically, projects have set start and end dates, and when one project finishes, a project manager receives a new one. Sometimes, these individuals must manage more than one project at a time. They work to create realistic timelines and goals and delegate tasks. To thrive in this position, candidates must possess strong communication and organization skills.

On average, project managers earn $75,520 per year, according to PayScale as of December 2021.

Online MBA Curriculum

Before signing up for a no-GMAT MBA program, make sure to research the required curriculum. Program topics can vary significantly from program to program. Schools typically offer different concentrations and focus areas, so look for a program with courses in your field of interest. Below, we've listed three common classes that you can expect to take during an MBA program.

  • Accounting Concepts for Managers: Accounting MBA classes typically focus on leadership in tasks such as bookkeeping, budgeting, and financial analysis. This class covers basics in accounting, so it suits learners who have never taken an accounting class before.
  • Fundamentals of Economics: In this economics course, students learn how the economy can affect business operations. This class usually covers microeconomic and macroeconomic theory. Topics may include supply and demand, inflation, trade, and current economic trends.
  • Business Law: Overseeing a business requires in-depth knowledge about legal regulations and ethics. This course covers topics such as contracts, liability, and torts. Business law courses also examine ethics related to sustainability.

Online MBA Programs for You

Grow your career, leadership, and business acumen with an accredited online MBA program.

Additional Online MBA Resources

How to Choose the Right Online MBA

Choosing the best online MBA takes research and dedication. One of the most important factors to consider before signing up for a program is its accreditation status. Choosing a school with regional accreditation rather than national accreditation will ensure that you earn a degree from a reputable school. MBA programs can also earn programmatic accreditation. The Association to Advance Collegiate Schools of Business is one prominent accrediting body for business programs.

An MBA stands out from other business-related master's programs because it provides a broad overview of important business functions, which can position you to become a successful leader in your field. Degrees like a master of management or a master of finance focus on one branch of a business and are better options for individuals who wish to oversee day-to-day business operations rather than big-picture issues.

Of course, cost is another important deciding factor. Luckily, there are many affordable online MBA programs with no GMAT requirements. Although you can hopefully earn a higher-paying job after graduation, choosing a more affordable program can prevent you from paying a hefty student loan bill.

You should also pay attention to the school's location and extracurricular graduation requirements. For example, although some programs may advertise themselves as online-only, they may require you to attend an in-person orientation or internship. In addition, capstone projects and thesis papers could include some in-person requirements.

2022's Affordable Online MBAs With No GMAT Requirement

To rank the most affordable online MBAs with no GMAT requirement in 2022, OnlineMBA started with data from the National Center for Education Statistics. Then, we factored in academics, affordability, reputation, program availability, and online flexibility. To learn more, click the link below.

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