5 Best Online MBA Programs in New York
| OnlineMBA.com Staff Modified on April 18, 2022
Are you ready to discover your MBA program?
Students hoping to find finance jobs in New York City or other business hubs can improve their chances by earning an online MBA in New York.
MBA learners study advanced business principles and theories, applying these ideas to real-world situations through experiential learning. This professional degree supports business students who want to obtain leadership and management roles and secure promotions.
MBA graduates in New York often earn higher salaries than they would in other states. The Bureau of Labor Statistics (BLS) reported an average annual salary of $ 151,510 for financial managers nationwide as of May 2020. In New York, however, financial managers earned an average annual salary of $215,640.
Prospective learners can begin their New York school search with our list of MBA programs below. This page also covers details and frequently asked questions about the degree.
Why Get an Online MBA in New York?
The courses that comprise MBA degrees prepare students for work in the business world. Learners are trained in finance, marketing, management operations, and accounting. Graduates also enjoy a number of employment benefits:
- Higher Salaries
- MBA graduates may earn significantly higher salaries than their coworkers. In fact, MBA-holders may secure starting salaries that are $20,000 higher than starting salaries for professionals with just a bachelor's degree in business.
- Leadership Promotions
- The highly transferable leadership skills students learn in MBA programs allow them to take on advanced leadership and management roles. Some programs offer opportunities to specialize in a specific style of management, such as human resources.
- Positive Job Outlook
- MBA graduates qualify for many positions with high growth projections. For example, the BLS projects jobs for analytics management professionals to grow by 14% from 2020 to 2030.
Because New York is the nation's business center, MBA students in the state can readily find work after graduation with major corporations like JPMorgan Chase, IBM, and PepsiCo. These companies offer jobs across many fields, including banking, media, healthcare, entertainment, and even cybersecurity.
What To Expect From NY's MBA Programs
The MBA experience varies by school, but most degrees comprise 50-60 credits and take 1-3 years to complete. Online MBA programs sometimes provide accelerated study options, which allow students to finish the degree in one year. Schools may also offer part-time enrollment, permitting students to take fewer classes at once. Part-time students take longer to complete their degrees.
Online MBAs in New York offer foundational knowledge in core subjects like finance and marketing. However, students can specialize their expertise through electives or concentration tracks.
Business professionals with concentrated MBAs in areas like leadership, finance, and marketing enjoy a competitive edge for securing employment in New York.
Admission Requirements for MBAs
Admission requirements for MBA programs in New York vary by school, but students should prepare to provide the following information:
- Prior Education: MBA candidates must hold a bachelor's degree in business or a related field and demonstrate their prior education through formal transcripts.
- Work Experience: Some programs may require students to hold a few years of professional experience and submit a resume detailing their employment history.
- Required Tests: Depending on program requirements, candidates should prepare to sit for the GMAT, the GRE, or the Executive Assessment.
- Statement of Goals: Many MBA programs ask prospective enrollees to write an essay about their career aspirations and how the program would help them achieve these goals.
Though many MBA programs in New York offer a general purview of advanced business concepts, some schools may offer specialized curricula. These degrees feature more coursework in specific areas of business like healthcare management or marketing, and students who graduate from these programs are often prepared for niche careers.
MBA students in New York who aim to work on Wall Street may specialize in finance, information systems, or business analytics can make them stand out as applicants. Others who hope to start their own business may enjoy a concentration in entrepreneurship.
Click the links below for more information regarding MBA concentrations.
Popular MBA Program Courses
Course offerings vary by school. However, many MBA programs offer similar core classes that teach students about business essentials, like economics and leadership. Common courses students can expect to encounter in their MBA include:
The MBA Capstone or Thesis
Many MBA programs require students to complete a culminating project like a capstone or thesis.
Capstone projects challenge students to identify a business issue or problem and propose a solution. These hands-on projects usually take 1-2 semesters to complete, and students often work in teams to conduct studies and present their solutions. These projects can provide the real-world experience employers find valuable.
Thesis projects require students to write a longform essay to study a business concept in depth. Thesis projects typically take at least two semesters to complete. Though a thesis does not offer the same kind of hands-on experiences a capstone does, they can demonstrate a student's ability to think critically and synthesize information.
How Much Do MBAs Cost in New York?
New York is home to many postsecondary institutions, including two Ivy League schools. The cost of earning an MBA in New York depends not only on the prestige of the school, but on factors like in-state or out-of-state residency and instructional delivery mode.
While the National Center for Education Statistics reports the average nationwide tuition for graduate students was $19,314 for the 2018-19 academic year, the numbers vary widely: Public school tuition averaged $12,171, while the 75th percentile for private institution tuition was $44,667.
Students attending on-campus programs and residing in New York should consider the state's high cost-of-living when calculating their expenses. New York has a cost-of-living index of 139.1, much higher than the average national index of 100. This makes New York the third-most-expensive state in the country.
Some schools, however, offer in-state tuition for all online students, regardless of state residency. This means learners can pursue a degree from one of New York's renowned institutions without taking on the burden of relocation expenses or living in an expensive state. The associated costs of pursuing an online MBA can be complex, so degree-seekers should research online options thoroughly.
MBA candidates can also take advantage of financing options like scholarships, fellowships, grants, and loans to support their educational investments. The link below offers more information about financial aid options:
What Jobs Can MBAs Get You?
Professionals with MBAs can qualify for a number of advanced, lucrative jobs in a variety of fields. Though many jobs only require a bachelor's degree, the additional credential of an MBA can help applicants stand out. Specialized MBAs can also help graduates qualify for competitive, niche careers. The following careers offer especially lucrative salaries in the state of New York:
Management analysts, also known as consultants, take on leadership roles and work with a team of analysts to improve an organization's efficiency.
Administrative services managers are responsible for planning and directing an organization's resources to ensure efficient business operation.
Human resource managers direct an organization's workforce. They often play major roles in hiring employees, mediating disputes, and overseeing benefits packages.
Training and development managers assess and organize the professional development needs of an organization.
Financial managers oversee a business's finances, monitoring the budgeting and reporting staff to ensure an organization's financial health.
New York's Top MBA Employers
MBA graduates in New York can use their degrees to find jobs in finance, marketing, manufacturing, banking, and sales. Companies in New York are often nationally known, which makes job openings very competitive. Thus, these employers seek out highly qualified candidates with the knowledge and experience gained in accredited MBA programs.
Top MBA Employers in NY
Choosing Between Online Schools in New York
Although our ranked program lists provide a good place for students to begin their school searches, MBA candidates in New York should also consider the following factors:
- Business schools in New York should hold regional accreditation from the Middle States Commission on Higher Education and programmatic accreditation from the Accreditation Council for Business Schools.
- School Size
- Larger schools can offer a greater variety of electives and concentrations, while smaller schools offer more intimate class settings.
- Students interested in specialized careers should find schools with concentrations relevant to their aspirations.
- University Resources
- Students should investigate the resources a school offers learners, including internship opportunities and other career services that can help graduates land jobs.
- Alumni Network
- The active, extensive alumni networks of well-known programs can help MBA students find job and internship opportunities.
Why You Should You Consider Online Schools in New York
Online MBA programs offer quality, cost-effective education that often better serves the needs of diverse students. Virtual students can pursue an online MBA in New York from anywhere without relocating. Online learners may pay less per credit, avoid costly commutes to campus, and bypass campus-specific fees. Many online MBAs in New York offer in-state tuition rates to students regardless of their actual location.
Many MBA students pursue their degree while working full time, so their professional obligations may not be compatible with the demands of in-person classes. Online programs, however, often offer their courses asynchronously, where students can watch recorded lectures and complete assignments in accordance with their schedules.
Some online MBA programs offer accelerated programs and even course waivers to experienced professionals in the business industry. These opportunities allow professionals to complete their degrees in as little as one year.
Online MBA Programs In Nearby States
2022’s Best Online MBA Programs in New York
This ranking of 2022's best online MBA programs in New York considers factors such as academic quality and reputation. Review our top five schools to find a program that's right for you.
Frequently Asked Questions
Is an online MBA respected?
Yes. Online MBA degrees with accreditation from the Accreditation Council for Business Schools and Programs and the Middle States Commission on Higher Education are as well-respected as in-person MBAs.
How much does an MBA cost in New York?
It depends. Several factors affect tuition rates in New York, including the prestige of the school, in-state or out-of-state tuition, and public or private institution. Graduate students should generally expect to pay $12,171-$44,667.
Are MBAs still worth it?
Yes. MBA degrees prepare students for employment in fields such as finance, marketing, management operations, and accounting. Graduates also enjoy higher salaries, opportunities for promotion, and positive job outlooks.
Can you get an MBA in one year?
Some online MBAs in New York offer accelerated study options or course waivers for experienced business professionals, all of which can help students graduate in a year.
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