Top 15 Best MBA Programs In Illinois in 2024

January 26, 2024 | Admin

MBA Programs in Illinois
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Illinois colleges and universities are an excellent choice for pursuing a Master’s Degree in Business Administration. Though most are located in Chicago, you can find quality MBA programs in Illinois that are located in other cities.

Why Choose Illinois for Your MBA?

Illinois is a treasure trove of businesses that are always looking for qualified professionals. Of all its cities, the reason why Chicago has the most business schools is that it’s the state’s economic powerhouse. Many large insurance companies have their headquarters in Chicago, including CNA Corp, Continental Casualty, and Allstate. Among the state’s other top employers is, State Farm, where over 10,000 employees live and work in Bloomington.

Top 15 Best MBA Programs in Illinois

We have put together a list of the top MBA programs to enroll in. Each school on our list is ranked based on a combination of tuition and acceptance rates, with the highest-ranked schools being the ones with the most affordable tuition for a two-year program and the highest acceptance rates. Here are our picks for the top 15 best MBA Programs in Illinois. If your interested, check out even more schools on our online MBA programs page.


Northwestern University (40 points)

  • Evanston, Illinois
  • Graduation Rate: 94%

Northwestern University offers full-time one-year and two-year MBA programs through the Keller School of Management. Graduates of the one-year program, have gone on to fill CEO roles with companies such as AllState, Hershey, and Mattell. The two-year program is just as prestigious, but also requires students to work in their chosen field for between eight and 12 weeks in order to graduate.

School Overview

Tuition: $37,435 per semester
Acceptance Rate: 9.1%
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The University of Chicago (40 points)

  • Chicago, Illinois
  • Graduation Rate: 94%

The full-time MBA program at the University of Chicago’s Booth School of Business boasts 13 concentrations, which include:

Business Analytics
International Business
Marketing Management

Students that want to immerse themselves in their studies as much as possible can join one or more of the school’s many groups run by their peers. This can lead to networking and study abroad opportunities, among others.

School Overview

Tuition: $36,670 per semester
Acceptance Rate: 7%
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University of Illinois at Chicago (80 points)

  • Chicago, Illinois
  • Graduation Rate: 58%

The Business Liautaud Graduate School at the University of Illinois at Chicago offers a Master of Business Administration. Students that enroll in the full-time program can choose concentrations such as:

Business Analytics
International Business
Operations and Supply-Change Management
Management Information Systems

The school also offers students the chance to participate in two study abroad programs; Doing Business in Brazil, and Know Europe., with the Brazil program lasting two weeks and the Know Europe program lasting one month.

School Overview

Tuition: $5,935 per semester
Acceptance Rate: 73%
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Loyola University Chicago (70 points)

  • Chicago, Illinois
  • Graduation Rate: 75%

The Quinlan School of Business at Loyola University Chicago students can earn their MBA along with a STEM Designation. Students are able to earn additional credentials because their studies include the following concentrations:

Derivative Markets
Supply Chain Management
Information Systems Management

These concentrations are in demand in the business world, making the STEM destination a popular option among MBA candidates.

School Overview

Tuition: $13,464 per semester
Acceptance Rate: 67%
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Illinois Institute of Technology (70 points)

  • Chicago, Illinois
  • Graduation Rate: 71%

The two year MBA program at Illinois Institute of Technology’s Stuart School of Business is an accelerated program that focuses on the area of business innovation. The program helps students pursue higher career positions in companies that rely heavily on technology to outdo their competitors.

Some of the specializations students in this program can choose from includes corporate finance, emerging markets, investment management, and sustainability.

Graduates of this program have gone on to work for companies such as Bank of America, Merrill Lynch, HSBC Bank, and Discover Financial Services.

School Overview

Tuition: $12,105 per semester
Acceptance Rate: 60%
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Illinois State University (70 points)

  • Normal, Illinois
  • Graduation Rate: 72%
Outdoor view of college building

Students that earn an MBA from the College of Business at Illinois State University have two different options for completing their degree. They can enroll in the traditional program or the corporate program. Both programs are taught in a blended format providing the flexibility necessary for a student to fit graduate education into their busy schedule.  Students in the Traditional program can study either full-time or part-time and can choose a focus area for their degree.  Students pursuing the Corporate MBA move through the degree program in a professional cohort allowing for collaboration and networking with colleagues in the program.

School Overview

Traditional Program Tuition: $404 per credit hour (in-state); $839 per credit hour (out-of-state)
Corporate MBA Program Tuition: $625 per credit hour
Acceptance Rate: 60%
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Dominican University (80 points)

  • River Forest, Illinois
  • Graduation Rate: 62%

At Dominican University, students pursuing an MBA degree specifically focus on Analytics/Operations, Business Problem Solving, Negotiation and Strategy, Markets and Consumers, Financial Decision Making, and Leadership and Ethics. Students can take the skills they learn and use them to solve problems for corporate clients as part of the university’s MBA Gateway Program.

School Overview

Tuition: $7,762 per semester
Acceptance Rate: 64%
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Benedictine University (80 points)

  • Lisle, Illinois
  • Graduation Rate: 63%

At Benedictine University Goodwin College of Business, students earning an MBA can choose to complete an internship that was designed with those in mind who have recently received their undergraduate degree in Business Administration. It provides those with little to no work experience in the business world to train for their chosen career.

Every student that enrolls in this MBA program in Illinois has the flexibility of choosing multiple concentrations.

School Overview

Tuition: $4,687 per semester
Acceptance Rate: 42%
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North Park University (60 points)

  • Chicago, Illinois
  • Graduation Rate: 53%

Students studying for an MBA at North Park University have the option of simultaneously earning certification in areas such as marketing, management, and finance. But the real difference between studying at this school and studying somewhere else is that North Park makes its Lifetime Learning Program available to everyone who graduates with an MBA. At any time, graduates can return to the school and take non-profit or business courses.

Graduates of the university’s MBA program go on to work for companies such as Pfizer, Motorola, Kaiser Permanente, and the Chicago Board of Trade.

School Overview

Tuition: $10,845 per semester
Acceptance Rate: 48%
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University of St. Francis (80 points)

  • Joliet, Illinois
  • Graduation Rate: 74%

The College of Business & Health Administration at the University of St. Francis is the ideal place for students already working in the business world to earn their MBA. As soon as they begin the program, students are allowed and encouraged to take the classes that will help them enhance the position they already hold with their employer. In addition, students can choose from concentrations that include Data Analytics, HR Management, and Supply Change Management, among others.

School Overview

Tuition: $17,000 per semester
Acceptance Rate: 96%
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McKendree University (80 points)

  • Lebanon, Illinois
  • Graduation Rate: 51%

Students at McKendree University have many options when it comes to earning their degree. While many students choose to study for a general MBA, they also have the flexibility to earn one in Corporate Finance, Cyber Defense, Digital Marketing, or Human Resource Management. No matter which area students choose, their studies include how to implement a business plan and how to effectively manage employees.

School Overview

Tuition: $7,950 per semester
Acceptance Rate: 63%
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Lake Forest Graduate School of Management (50 points)

  • Lake Forest, Illinois

The Lake Forest Graduate School of Management runs a successful Leadership MBA Program. The program gives students the opportunity to choose from specializations that include Data Analytics, Organizational Intelligence, and Global Supply Chain. This program is unique in that it gives students a general overview of the Business Administration field. Students can choose to simply earn a Leadership MBA or take it one step further and earn a Corporate MBA.

School Overview

Tuition: $26,325 per semester
Acceptance Rate: 58%
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Eastern Illinois University (80 points)

  • Charleston, Illinois
  • Graduation Rate: 57%
Eastern Illinois University logo

Eastern Illinois University MBA students study strategic management, marketing, finance, accounting, organizational behavior, quantitative modeling, management of information technology, operations management, and related business subjects. They have options for internships, international education, and electives such as leadership, business analytics, global business, ethics, cybersecurity, human resource management, and more. Specialized programs are available for Accounting, Applied Management, Geographic Information Sciences (GIS), and a Research Option that prepares students for research careers or entry into a PhD program. Second-degree opportunities are available for health promotion, technology, or economics. Classes may be taken in-person or online. The program is delivered by the University’s well-qualified and experienced graduate business faculty. It offers an AACSB-accredited premium graduate business education affordably and with convenience.

School Overview

Tuition: $2,524 per semester
Acceptance Rate: 53%
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Rockford University (70 points)

  • Rockford, Illinois
  • Graduation Rate: 74%

Rockford University offers a Master of Business Administration program that is among the oldest in the city. Students that enroll in this program can choose from three possible concentrations; Finance, Project Management, and Healthcare Administration. In addition, students also benefit from the school’s Bloomberg Business Lab, where they can learn how decisions are made in the business world as well as in government.

School Overview

Tuition: $6,570 per semester
Acceptance Rate: 54%
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DePaul University (70 points)

  • Chicago, Illinois
  • Graduation Rate: 73%

At DePaul University students can enroll in the Driehaus College of Business & Kellstadt Graduate School of Business to earn their MBA. The school gives students a choice of 15 different concentrations, some of which include Business Strategy & Decision Making, International Business, Finance, and Business Analytics. Even though the school offers so many concentrations, students also have the option of creating their own Custom MBA program.

School Overview

Tuition: $13,517 per semester
Acceptance Rate: 68%
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How We Rank The Schools On Our List

We took the tuition rate per semester and the acceptance rate for each school to determine our rankings. Tuition rates are based on in-state residency and full-time attendance. Schools are ranked according to which ones have the lowest tuition rate but the highest acceptance rate. Each tuition amount and acceptance rate receives a score of up to 50, for a maximum score of 100 between the two criteria used.

Did We Rank Your School Wrong?

Though we strive to provide accurate information, we acknowledge that mistakes can and do happen. So if you work for one of the schools on our list and feel that we made an error in its ranking, please contact us so we can fix the problem.

Find the program that’s right for you

Whether you’re trying to start your career or make a big change, we can help you find the perfect school to help you reach your goals.

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