Getting your master’s in business can be tough when you have to pass the GMAT, but many schools are now waiving the GMAT requirement and focusing on other indicators of high performance, such as work experience, letters of recommendation, undergraduate GPA, and even interviews.
Why Choose an Affordable Online MBA Program with No GMAT Requirement?
By choosing an MBA program that doesn’t require a GMAT, you can save time and money on test preparation and focus on your education. If you’re returning to school after a break of five, ten, or more years, the GMAT may not make sense. Your real-world work experience will allow you to bring a valuable perspective to the classroom
Why are MBA Programs Waving the GMAT?
Schools are finding that waiving the GMAT requirement helps them bring in students with the necessary skills to succeed. Standardized testing is not the only measure of a student’s abilities or their potential for success in an MBA program. Undergraduate success, work experience, and previous graduate degrees are often considered when waiving the GMAT requirement. However, each school has its own criteria and processes for their online MBA programs, so it’s important to research the options and consider the cost, including in-state tuition.
For students meeting alternative conditions or waiver requirements, providing some documentation may be all they need to do when they sign up for an online MBA. Keep in mind that every school is a little bit different in what they require and how they handle their online MBA program. If you’re considering getting your MBA, and you’re not sure what school to choose, a little research into the options offered can help you pick the right one. Also consider the cost, as in-state tuition may be much less expensive for you.
Top 27 Schools for the Most Affordable Online MBA No GMAT
We have selected 27 of the best schools for the most affordable online MBA programs that do not require a GMAT. These programs are ranked based on their low tuition and enrollment numbers.
Tarleton State University
The MBA at Tarleton State University is made up of 30 credit hours and is available with a fast-track to be completed in just 12 months. The school states that 76% of its graduates are employed full-time at the time of graduation.
Ashland University
In just a year, the online MBA at Ashland University can be completed with 30 credit hours. It prepares students to receive the Project Management Professional certification. The cost of the exam is included in the program’s fees.
Eastern New Mexico University
The MBA program featured at Eastern New Mexico University is fast and flexible, with students completing the program in as little as 12 months. This program has been available for over 60 years, which makes this one to consider.
Kansas State University
Kansas State University offers an MBA program consisting of between 30 and 36 credit hours. Books and materials are included in the tuition, which equates to around $2,500 per course. Classes are each eight weeks long, encouraging students to take one at a time.
Anderson University
Anderson University’s MBA is a 36-hour program that gives students the opportunity to specialize in human resources, supply chain management, marketing and healthcare leadership. The classes are fast-paced, each lasting only six weeks.
Alvernia University
The MBA program at Alvernia University costs $645 per credit hours and is accredited by the ACBSP. The program is estimated to last a year, and the credit hours range from 30 to 39.
Missouri Baptist University
The online Master of Business Administration available at Missouri Baptist University has two concentrations available. Accountancy and project management are other available, the first which prepares students to sit for the CPA exam and the second that prepares them for the Professional Project Management certification exam.
Fontbonne University
Fontbonne University offers a 36-credit-hour MBA that is set up in eight-week courses. Students can select from concentration in accounting, management and leadership, supply chain management, project management and administration.
Murray State University
The Master of Business Administration with a concentration in business analytics takes as few as 12 months at Murray State University. Tuition is set at $15,990 for the 30-hour program. Other MBA programs are also available in health administration, marketing, global communications, cybersecurity and others. While they do give exceptions to the GMAT, they don’t necessarily have a waive-all rule to the GRE or GMAT.
Bay Path University
Bay Path University offers an MBA in Entrepreneurial Thinking & Innovative Practices. This is a completely online program that begins each February, June and October for incoming students.
National Louis University
At National Louis University, students complete 39 hours of classwork to obtain their Master of Business Administration. The MBA can be completed in just 20 months and offers flexible classwork and schedules.
Maryville University
Maryville University offers an online Master of Business Administration that is completed with 36 credit hours. The program teaches skills in various concentrations, such as emerging and digital media concentration, financial services, health administration, business data, cybersecurity and others.
Xavier University
Xavier University offers an MBA course that takes 1.5 to 3 years to complete. It can be finished in as few as 39 hours or as many as 45. The program is AACSB accredited.
George Mason University
George Mason University offers an AACSB-accredited MBA program. They have a global residency option as a well as an additional certificate in Business Analytics available at the completion of the program. The part-time online MBA is 48 credit hours and can be completed in less than 3 years. Complete in 2 years with accelerated option.
Drexel University
The Drexel LeBow Online MBA is a highly customizable degree designed to equip you with problem-solving and leadership skills that can be applied across a variety of different industries. The flexible curriculum allows you to master the fundamentals of business, identify leadership strengths, and think strategically using quantitative data, all while maintaining your busy schedule and earning your degree on your own time. Drexel University’s world-renowned faculty will help you develop and utilize these skills immediately in the workplace. The program can be completed in as little as 18 months or up to five years.
Ball State University
Ball State University’s MBA program is available as either an online or on-campus program. It is ranked among the top 25 MBA programs, and is an AACSB Accredited program. Students choose from eight concentrations to allow them to customize their degree to fit their career goals. Because it offers a fully online learning platform, this program is quite flexible for working adults. This school was founded in 1918, and it provides a lengthy history of academic success.
Colorado State University
Colorado State is among the top 100 online MBA programs based on U.S. News & World Report. It also earns accolades as the best online MBA in the state, and has held that title for six consecutive years. The school is known for its low tuition rates, and it offers a number of incentives to military or corporate students to help lower the cost of tuition even further. The lack of GMAT testing makes it easier for busy professionals to start their training.
Creighton University
Creighton University offers an MBA program through the Heider College of Business, a school ranked in the top 25% of business schools around the globe. Coursework is designed to work alongside internship and leadership programs to get students where they want to go in their careers as quickly as possible. This program is ranked as one of the Best Online MBA Programs by U.S. News & World Report. The school also offers the option to explore an MBA with a dual degree plan in another field, such as medicine or law.
Florida International University
Florida International University is the public research university in the Miami area. It has two campuses and multiple centers throughout Southern Florida. This program is ideal because of its flexibility. It also ranks number four in the country and number 10 in the world by QS World University Rankings. Students choose from one of three different paces with five start times. Specialization options include Business Law, Entrepreneurship and Innovation, Leadership, Real Estate, Sports Management, Business Data Analytics, Finance, International Business, Marketing Channel Strategy and Strategic Negotiations.
Florida State University
U.S. News & World Report ranks Florida State University’s online MBA program as one of the top programs in the country. The College of Business is well-known for its strong faculty, and the curriculum is an innovative one. Students can attend full-time for an accelerated degree, part-time or in a dual-degree program. A wide range of specializations allows students to customize their degrees to fit their career goals. The program is highly competitive for applicants. The GMAT is recommended, but they do have criteria for waiving it as an application requirement.
Indiana University
Indiana University offers an MBA program that is 80 to 99% online through the Kelley School of Business. By requiring two in-person experiences, this program allows students to build a strong network while enjoying the flexibility of online education. It is one of the best online MBA programs in 2023 based on the U.S. News & World Report ranking system. The program offers concentrations in Business Analytics, Entrepreneurship and Corporate Innovation, Digital Technology Management, Finance, Marketing, Strategy and Leadership, and Supply Chain and Operations.
Iowa State University
The Ivy College of Business at Iowa State University offers a top-ranked MBA program that is considered the best program in Des Moines. This part-time program is designed for working adults and offers year-round courses to help students finish more quickly. It has a fully online option as well as a hybrid option for local students. Multiple specializations allow students to customize their degree to fit their needs. This program takes a team-based approach to learning, which provides students with ample opportunities for networking.
North Carolina State University
The Jenkins MBA program from North Carolina State University is accredited by the AACSB, which is rated as one of the top 10 online Business Analytics MBA programs according to U.S. News & World Report. It is an analytics-focused program that offers both on-campus and fully online options, giving students the flexibility they need. Because North Carolina State is a STEM university, the MBA is one of the few in the country designated as a STEM MBA, giving students business training with a focus on the scientific method. The online program is 100% asynchronous. The program also has study abroad, networking and volunteer opportunities woven in.
Oklahoma State University
The MBA program at Oklahoma State University is ranked second in the Best Online MBA Program list for the Big 12 Conference schools by U.S. News & World Report. This program is offered through the Spears School of Business, with courses available at all times, allowing students to study on their own. A strong focus on student collaboration makes these highly interactive programs. Students can use their professional work experience in place of the GMAT/GRE score, if they wish. This program was specifically designed for full-time working adults.
Saint Joseph’s University
The MBA program at Saint Joseph’s University is designed for working adults. It is a shorter program that is available 100% online or on campus, depending on a student’s needs. It offers a number of certificates that can make a student look more appealing as a job candidate. This is the only program in the city of Philadelphia that allows students to customize their entire learning experience by stacking the three certificates they need most into one degree. This is a Yellow Ribbon Program school with a number of incentives and services for veterans.
Texas A&M University-Commerce
Texas A&M University–Commerce, has a fully online Masters of Business Administration program that assists students in preparing for their business success. It is the largest online MBA program in Texas, which means graduates receive a huge professional network to tap into after graduation. Students can get certificates in Tax Accounting, Operational Excellence, U.S. Healthcare, Business Analytics or Auditing and Forensic Accounting, if they wish. This is an AACSB-accredited program that focuses on career readiness.
University of Colorado, Colorado Springs
The University of Colorado, Colorado Springs, provides an AWACS-accredited program that is full of collaboration between faculty, students, and staff. The MBA program is the only 30-credit program in the state, and it offers over 12 specializations. The program is available both online and in-person, with options for both 8- and 16-week classes. This flexibility allows students to tailor their education to their specific needs, even while they continue working. University of Colorado, Colorado Springs, is a Top 10 Military-Friendly School.
Affordable Online MBA Ranking Methodology
Each of the schools in this article is ranked according to the program’s total credit hours required to complete an MBA and the overall tuition rate. While efforts have been made to provide accurate information, please note that these results are not guaranteed and are subject to change. If you work at one of the schools listed and notice any errors or misrepresented information, please reach out to us for corrections. If you would like your school to be ranked, we would be interested in speaking with you as well.
MBA Accreditation
When pursuing an MBA, it’s important to attend an accredited school. Accreditation ensures the value of your degree for future employment. There are two types of accreditation to consider: institutional accreditation and Association to Advance Collegiate Schools of Business (AACSB) accreditation. While AACSB is not a requirement for a valid MBA degree, it is a valuable distinction to have.
MBA Scholarships and Grants
Scholarships and grants are worth exploring for your MBA. Some programs offer financial assistance based on income, specific criteria, or high GPAs. While options may be limited for graduate degrees, affordable online MBA programs without a GMAT requirement increase the likelihood of finding a program that fits your budget. In-state tuition rates and scholarships/grants available to residents of the state can provide additional cost savings.
Budgeting Tips While Earning an MBA
When pursuing an MBA, budgeting your time and money is crucial. Balancing work, school, and other responsibilities can be challenging. Consider these key budgeting tips:
- Have a plan for your income while you study, such as work, savings, loans, grants, or a spouse/partner’s support.
- Budget your time effectively to ensure you can manage all your commitments.
- Set money aside for school supplies and additional expenses.
- Regularly check in with yourself to manage your well-being and adjust your pace if needed.
Being prepared and budgeting for the demands of an MBA program will contribute to your success.
However, budgeting for an MBA program can be an excellent way to advance your career and do more in your field, making it one of the best choices for an overarching degree. With concentrations and specializations offered by many schools, you can also consider whether increasing your school budget to attend a university that meets your specific future career goals may be the right choice in the end. A higher budget can be well worth it if there is a specific need.
Getting an Online MBA with No GMAT
There are over 100 schools that do not require the GMAT for an online Business Administration degree. Holding an MBA opens doors to various high-paying careers, such as management consulting, financial management, marketing management, human resources management, and business development management. The average salary for professionals in management positions exceeds $100,000, according to the U.S. Bureau of Labor Statistics.
Admission Requirements Without the GMAT
While many schools are waiving the GMAT requirement, they still have specific qualifications for their MBA programs. Common requirements include advanced degrees, work experience, high undergraduate GPAs, professional licenses, letters of recommendation, and personal essays. It’s essential to review each school’s admission requirements before applying.
- Advanced degrees – If you already have an advanced degree in another field, then you can usually get into an MBA program without the GMAT.
- Experience – Many schools accept several years of work experience in place of the GMAT score.
- GPA – A high GPA from your undergraduate program may allow you to enter your MBA program without additional testing. Most schools have a minimum GPA requirement for their applicants.
- Licensing – If you hold a professional license in business, talk to your school about using that instead of your GMAT score to get into an MBA program.
- Letters of recommendation – Schools that admit students without a GMAT will ask for letters of recommendation from professional colleagues or past college professors.
- Personal essay – A personal essay will show your passion and interest while also showcasing your writing abilities.
Ultimately, you will need to check the school’s requirements to see what you need to submit, as these are going to vary from one institution to the next.
MBA Salary and Career Options
Having an MBA offers a range of high-paying career opportunities. Some popular career options for MBA graduates include management consulting, financial management, marketing management, human resources management, and business development management. Median salaries for these roles range between $101,216 and $133,380 per year.
Here are some career options:
Management Consultant
Management consultants work with the executives in a company to find the organization’s challenges and gather the information to meet those needs head-on. They develop solutions that the business can implement to overcome these problems. Companies may hire management consultants when they have a big project to work on. Indeed estimates a median salary of approximately $100,000 a year for these professionals. They also often have many non-cash benefits.
Financial Manager
Financial managers are the management professionals that direct investment and create financial reports. They are responsible for developing plans that achieve a company’s long-term financial goals. The Bureau of Labor Statistics expects to see a 17% growth from 2021 to 2031 in this field, which indicates it is in high demand. The median salary for 2021 was $131,710 a year.
Marketing Manager
Advertising is critical to the success of any company. MBA grads with a marketing focus can step into the roles of marketing managers, which are the professionals that oversee the promotions and marketing for a company. Marketing managers also help develop a company’s brand. The expected job growth in this field is 10% between 2021 and 2031, and the median salary is $133,380 a year, according to the BLS.
Human Resources Manager
Human resources departments are the connection between a company’s leadership and its workers. Human resources managers plan and direct the HR departments for companies. They ensure employees are happy and their needs are met well by the company. While this role is expected to see only average growth from 2021 to 2031, the income potential is high, with a median of $126,230 a year, according to the BLS.
Business Development Manager
Business development managers are responsible for planning and directing the programs that help a business grow and develop. The goal of a business development manager is to help the company grow by developing strategic plans, training employees, and improving sales. The median income per the BLS is $120,130 a year.
Why Earn an Online MBA?
There are several benefits to pursuing an online MBA without the GMAT requirement. It allows flexibility for students who have family or job commitments. It also offers a chance to enhance existing experience or move into a new field. An online MBA provides opportunities for career advancement and a global perspective. Additionally, the affordability of online MBA programs makes them an attractive option.
How Affordable are Typical Online MBA Programs?
Typical online MBA programs without a GMAT requirement can range from under $400 per credit hour to a total cost under $11,000, depending on the program’s credit hour requirements.
Are Online MBA Programs Cheaper Than Traditional MBA Programs?
Online MBA programs can be more affordable than traditional programs because they don’t require room and board or commuting expenses. Some online programs may also have lower operational costs compared to on-campus programs.
Online MBA No GMAT Admission Requirements
Online MBA programs without a GMAT requirement usually require transcripts, a minimum GPA (often 3.5 or higher), bachelor’s completion in a related field, letters of recommendation, and work experience. Requirements may vary for each program.
What Do Online MBA Programs Require Instead of GMAT Scores?
Instead of GMAT scores, online MBA programs typically require letters of recommendation, a solid GPA, coursework in a related field, and a letter of intent. Some programs may also consider work experience and recommendations from employers.
Online MBA Curriculum
An online MBA curriculum varies based on the specific area of study. Core courses applicable to most MBA programs usually cover topics such as accounting, business law, business ethics, economics, marketing, and entrepreneurship.
A typical MBA program curriculum might include the following:
- Management: This includes subjects like organizational behavior, leadership, and business strategy.
- Finance and Accounting: This segment covers financial management, managerial accounting, and corporate finance, teaching students how to manage finances, understand financial statements, and evaluate investments.
- Marketing: Topics like marketing strategy, consumer behavior, and digital marketing are covered. Students learn how to position products, analyze market needs, and develop advertising strategies.
- Operations Management: This area deals with the processes involved in production and the efficient delivery of goods and services.
- Human Resources: Students delve into areas like talent acquisition and retention, talent management, employee relations, and HR strategy.
- Economics: Macro and microeconomics courses provide insights into economic principles, market structures, and the broader economic environment affecting businesses.
- Business Analytics and Information Systems: Courses in this segment focus on data analysis, business intelligence, and information systems management.
- Ethics and Corporate Social Responsibility (CSR): Businesses are increasingly being held accountable for their impact on society and the environment. These courses focus on ethical decision-making and the role businesses play in the broader societal context.
- Global Business and Strategy: Students learn about international business environments, cross-cultural management, and global strategy.
- Entrepreneurship and Innovation: For those looking to start their own businesses or drive innovation within existing organizations, courses in this area teach students about startup dynamics, innovation strategies, and venture financing.
In addition to these core courses, MBA programs often offer electives or specializations in areas like healthcare management, real estate, luxury brand management, or technology. Such courses allow students to explore and develop specific areas of interest. Most MBA programs also include capstone projects, internships, or consulting projects to provide practical, hands-on experience.
Online MBA Concentration Options
Online MBA programs offer various concentrations to align with specific career paths. Examples include business analytics, project management, sports business, healthcare management, general, marketing, leadership, and cybersecurity.
