Best Online MBA Programs in Minnesota
| OnlineMBA.com Staff
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Graduates of online MBA programs in Minnesota qualify for a wealth of opportunities. According to U.S. News & World Report, Minnesota's economic situation, equality, and affordability rank the state third in the nation for opportunity. Minnesota also ranks third in the country for employment.
An MBA prepares students for careers in business and financial management. Many MBA degree-holders specialize in areas like healthcare, marketing, and leadership.
The U.S. Bureau of Labor Statistics (BLS) reported an average annual wage of $121,540 for management occupations in Minnesota. Graduates from MBA programs in Minnesota can use their expertise to advance to higher titles and earning potential.
Prospective MBA students can use our ranking below to learn about the best online programs in Minnesota and find schools that align with their goals and preferences. This page also explores career resources in Minnesota.
Why Get an Online MBA in Minnesota?
Prospective students should consider potential return on investment before enrolling in any degree program. The BLS projects employment for business and financial occupations to grow by 5% from 2019-2029, outpacing the projected national average growth rate for all occupations. Additional benefits for MBA graduates include:
- MBA degree-holders work for nonprofit and for-profit organizations in many industries. Businesses across the country need managers and financial professionals, making the MBA a marketable degree in several locations.
- Graduates who completed a robust business core and relevant elective courses might get a leg up on their resumes. Employers who value concentration-specific expertise know these candidates can apply strong accounting and leadership skills.
- Earning Potential
- Nationwide, the median annual wage for management occupations reached $105,660 as of 2019. MBA degree-holders hold the knowledge, leadership, and experience to advance into marketing, human resources, and IT management positions.
MBA programs in Minnesota may connect learners with some of the state's 24 Fortune 500 companies through capstone projects, internships, and networking events. With so many notable corporations in healthcare, retail, and food products, students can network to pursue job searches throughout the country.
Aspiring professionals pursuing online MBAs in Minnesota can choose schools in cities like St. Paul or Minneapolis, or they may study in smaller towns like Moorhead. With online schools in Minnesota offering diverse concentration options, distance learners can engage in coursework aligning with their career goals from anywhere.
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What To Expect From MBA Programs in Minnesota
Students can complete online MBAs in Minnesota in as little as 12 months, with many options available to those who wish to study part time. Programs typically require 30-42 credits.
Online MBA programs in Minnesota vary in structure. Some run on accelerated timelines, often on a 12-month schedule. Others cater to full-time professionals with slower-paced options. In hybrid programs, enrollees may need to visit campus for orientation events or residency requirements. Many programs run fully online.
Course delivery varies among programs. Some online MBAs present course materials asynchronously, allowing enrollees to access readings and assignments at their convenience. Others require face-to-face meetings using web cameras.
Concentrations for online MBA programs in Minnesota include finance, healthcare administration, principles of manufacturing, and nonprofit management.
Core courses cover business foundations like marketing and business strategy. In Minnesota, students can expect tuition to cost $11,000-$20,000, though some tuition expenses fall outside of this range.
Admission Requirements for MBAs
To gain admission to an online MBA in Minnesota, each applicant should hold an accredited bachelor's degree. GPA requirements vary. Some schools set no standards, while others look for candidates with minimums ranging from 2.3-3.0. Students may complete business prerequisites in economics, accounting, and statistics, though some programs admit learners from any academic background.
MBA programs in Minnesota may require applicants to take the GMAT, sometimes with a minimum score of 450. Some schools allow enrollees to substitute two-plus years of work experience in the place of standardized tests, and others do not require them at all.
Other common admission materials include a personal essay, recommendation letters, and a resume. Some programs require work experience. Application fees typically range from $25-50 and accompany the online application.
MBA concentrations allow students to develop expert knowledge in specific areas of business. Students aiming to work in particular industries or gain specific titles may pursue a concentration.
Online MBA programs in Minnesota offer a wealth of specialty options. For example, a concentration in the principles of manufacturing focuses on process, production, and finance. Students can pursue a specialization in supply chain management to develop a strong understanding of the technology, analytical methods, and systems used in the field.
Other popular MBA concentrations include healthcare administration, finance, and human resources. Many specialization tracks comprise 12-15 credits within an overall MBA degree.
Popular MBA Program Courses
Course requirements differ by school, but degree-seekers may encounter similar core curricula as they research online MBA programs in Minnesota. A typical MBA program requires a set of foundational business courses. Students then follow their interests by choosing individual electives or a set comprising a concentration. Frequent MBA course requirements include:
The MBA Capstone or Thesis
Many MBA programs require enrollees to complete capstone projects. A capstone may take the form of a strategic management course or seminar, where participants combine the knowledge they have gained to solve real-life business problems. Learners may work in groups to partner with local businesses or develop answers to case study problems.
Capstone projects present a strong opportunity for students to build their resumes and professional portfolios through practical experience. Location affects the long-term benefits of a capstone project, as this requirement allows enrollees to forge relationships with potential future employers.
Online MBA programs in Minnesota can offer direct connections to well-known companies that operate throughout the country. Large corporations with headquarters in the state include Target, General Mills, and UnitedHealth Group.
How Much Do MBAs Cost in Minnesota?
Multiple factors influence the cost of online MBA programs in Minnesota. Prospective students can expect to encounter differences based on whether they live in the state, pursue public or private institutions, or aim for prestigious schools. In-state residents often pay lower tuition at public institutions, though some allow online learners to pay reduced or flat-rate fees. Prestigious institutions often carry higher price tags.
As a very general guideline, total tuition costs in Minnesota can run around $11,000-$20,000. Cost of living in the state sits at 101.6, close to the national index of 100. Housing falls well below the national index, at 88.6, which may help students who live in the state.
Each degree-seeker should make sure to fill out a FAFSA, which opens the door to federal grants and loans. Many professionals associations, nonprofit organizations, and local agencies grant scholarships on the basis of merit or need. Students should research options that apply to their interests or demographics.
What Jobs Can MBAs Get You?
By obtaining an online MBA in Minnesota, degree-holders can enter the job market with confidence. The business foundations and experience from an MBA program in Minnesota qualify graduates to pursue gainful employment and advance to lucrative positions. In Minnesota, a robust retail industry makes ample room for marketing and sales managers.
Graduates with strong backgrounds in supply chain management can also find success in the state's healthy manufacturing environment. General and operations managers made an average annual salary of $123,460 as of 2019; in Minnesota, they made $109,490. Projections indicate that jobs for these professionals will grow by 7.2% in Minnesota from 2018-2028.
In-demand business management occupations in Minnesota include:
Financial Manager: Encompassing titles like controller and treasurer, financial managers take responsibility for big-picture financial decisions. They help their organizations by handling investments, preparing reports, supervising budget-related employees, and making recommendations. In Minnesota, Projections Central reports a projected occupational growth of 16.3% from 2018-2028.
Marketing Manager: Marketing managers find new ways for customers to discover their company's products. They work to optimize website design, plan advertisements, and create overall marketing strategies. They also study market trends and work with product developers to create new goods and services. Long-term data demonstrates a 6.9% projected growth rate from 2018-2028 for marketing managers in Minnesota.
Sales Manager: Largely employed in wholesale and retail trade industries, sales managers oversee personnel in their department, including hiring and training. They handle budgets, supervise distribution in their designated area, and ensure their branches meet company goals. Data from Projections Central indicates a 5.4% projected employment growth rate for sales managers in Minnesota from 2018-2028.
Medical and Health Services Manager: Often working for hospitals, physician's offices, and residential communities like nursing homes, medical and health services managers ensure that their facilities operate effectively. They oversee financial operations and adhere to regulations in their facilities. In Minnesota, employment for medical and health services managers is projected to grow by 16.9% from 2018-2028.
Computer and Information Systems Manager: Also known as IT managers, computer and information systems managers deal with technology-related issues for their organizations. They determine what kinds of software, hardware, and network systems best fit their company's goals, make recommendations to executives, implement systems, and monitor changes. Employment for IT managers in Minnesota will grow by a projected rate of 8.3% from 2018-2028.
Minnesota's Top MBA Employers
MBA graduates looking for jobs in Minnesota can find lucrative positions in many different industries. Individuals with MBAs can find top-paying jobs as sales managers, financial managers, marketing managers, and IT managers. Sales managers in Minnesota, for example, earned an average annual salary of $136,470 as of May 2019.
Projections data indicates that many of these positions should grow on pace with national figures, with some roles outpacing national forecasts. For example, employment for financial managers in Minnesota will increase by a projected 16.3% from 2018-2028, while the BLS projects nationwide growth of 15% from 2019-2029.
With 24 Fortune 500 companies calling Minnesota home, MBA graduates can pursue diverse employment opportunities. Booming industries include retail, with companies like Target and Best Buy using the state as a hub; healthcare, with top employers like the Mayo Clinic and UnitedHealth Group; and food consumer products from General Mills, Hormel, and Land O'Lakes.
Considering these factors, students pursuing online MBAs in Minnesota may want to direct their studies toward concentrations in sales, supply chain, healthcare management, financial management, or information systems.
Top MBA Employers in Minnesota
Selecting Your Minnesota MBA Program
Degree-seekers can consider our list of the best online MBA programs in Minnesota as a springboard for their research to identify their ideal program. Prospective students should always consider which factors matter most regarding their individual career goals and preferences.
Accreditation should always count among the top considerations for choosing any degree program. Regional and national accreditation assess schools as a whole. Employers and educational institutions often do not recognize degrees that lack regional accreditation. The Higher Learning Commission grants regional accreditation to schools in Minnesota.
Business students should also consider program-specific accreditation from the Association to Advance Collegiate Schools of Business.
Prospective students might want to ask about the resources available to them as program participants, especially when studying online. Career services, alumni networking opportunities, technology support, and library services count among important resources. Degree-seekers may also want to ask whether distance learners can participate in extracurricular activities or clubs.
As a career-focused degree, online MBA programs commonly advertise the success of their graduates. Prospective students might want to seek out information on earning potential and consider whether previous graduates secured job titles that appeal to them.
Why You Should You Consider Online Schools in Minnesota
Online education continues to increase in popularity. With added flexibility and convenience, distance learning offers students a wider selection of programs. They can find the degree that best matches their interests and goals, rather than settling for something local. For students with families, jobs, or caretaking responsibilities, online degrees can provide opportunities they would not otherwise encounter.
Online MBA programs allow students to absorb the same information as they would on campus.
Distance learning provides ample opportunities for students to work in groups, form connections with peers, and even network with local business owners. In Minnesota, businesses with nationwide influence partner with the state's MBA programs.
Students from around the country might consider online schools in Minnesota for their wide selection of concentration options, like principles of manufacturing.
When weighing distance learning as an option, degree-seekers need to take an honest look at their study habits. An online MBA requires the same attention as an in-person degree, and participants need to engage in good time management.
Students with busy schedules might prefer asynchronously presented courses, where they log in to access materials on their own time. Learners who crave direct conversation can choose programs with real-time online video meetings.
Online MBA Programs In Nearby States
Frequently Asked Questions
Is an online MBA respected?
Yes. Employers respect online degrees as much as those earned in person. Distance learners often continue working while earning their degrees to accrue valuable professional experience and expert business knowledge.
How much does an MBA cost in Minnesota?
Tuition costs range from about $11,000-$20,000 for an online MBA in Minnesota. Factors that can influence cost include state residency, public versus private institutions, and the prestige of the institution.
Does an online MBA have any value?
Yes. Graduates of online MBA programs leave with the same in-depth business knowledge as those who studied on campus. Most schools feature online programs with curricula that maintain parity with their in-person equivalents.
Does Minnesota have online degrees?
Yes. Degree-seekers can find many online MBA programs in Minnesota, with many available specialization options, including healthcare management, marketing management, and finance.
The 6 Best Online MBA Programs in Minnesota
Minnesota students pursuing an MBA online can choose from many local options. Ideal for working professionals, online MBA programs offer flexible schedules and the convenience of completing coursework at home.
Our ranking profiles the top six online MBA programs in Minnesota. Each school on our list holds regional accreditation. Accreditation recognizes colleges, universities, and higher learning programs that meet rigorous academic quality standards. Additionally, many MBA programs hold industry-specific accreditation. The following accrediting bodies have endorsed the programs in our ranking:
- Higher Learning Commission (HLC)
- Accreditation Council for Business Schools and Programs (ACBSP)
- AACSB International (AACSB)
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