The 12 Best MBA Programs in Indiana in 2024

January 26, 2024 | Admin

MBA Programs in Indiana
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Deciding to expand your college education to an MBA is a smart move and well worth the investment. Fortunately, there are many online, weekend, and night programs available in Indiana so that working while you earn your MBA is easy and quick. If you are looking to improve your skills, salary and move into a higher management position, getting an MBA is usually your best bet. In 2019, the median salary for an MBA graduate was $115,000. In some situations, the salary increase could run as much as 50%. This all leads to the question, where should you earn your degree?

BestValueSchools.org knows you are busy and don’t have time for all of the research to find a school that fits your budget and offers a more personalized experience. We put together a points system for the MBA schools in Indiana based on tuition rates and the student to teacher ratio. For even more schools, check out our online MBA programs page.

BestValueSchools.org MBA Recommendations


Indiana University Northwest – 32 points

  • Gary, Indiana
  • Graduation Rate: 22%
Outdoor view of college building

The MBA program at Indiana University Northwest offers a weekend or weeknight option for those already on the job. The weekend courses are every other Saturday, and the weeknight meets every other week. Students can finish within 18 months and will learn how to blend leadership and teamwork. Executive coaching allows for a personalized experience.

School Overview

Tuition: $360 per credit hour
Student-Teacher Ratio: 14:1
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Ball State University- 28 points

  • Muncie, Indiana
  • Graduation Rate: 57%

With accreditation from the Association to Advance Collegiate Schools of Business, Ball State University’s MBA program is a rigorous, practical experience. Students learn ethics, leadership, entrepreneurship, marketing, sales, and skills to meet the need both digitally and globally. They offer online, a campus located, or a blend of both for this degree. Ball State provides ten concentration areas for the MBA degree, including Artificial Intelligence, Construction Management, Finance, Healthcare Administration, and more.

School Overview

Tuition: $424 per credit hour
Student-Teacher Ratio: 16:1
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Indiana Tech – 23 points

  • Fort. Wayne, Indiana
  • Graduation Rate: 22%

The College of Business at Indiana Tech offers several different concentrations for the MBA program. These are Accounting, Marketing, Business Analytics, Healthcare Management, Human Resources, Professional Studies, and Project Management. The school offers online, evening, and weekend options for this study to accommodate working students.

School Overview

Tuition: $515 per credit hour
Student-Teacher Ratio: 17:1
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Indiana State University – 22 points

  • Terre Haute, Indiana
  • Graduation Rate: 36%

As a graduate of the one-year MBA program at Indiana State University, you will know how to solve complex situations, manage change, overcome challenges, and strategically plan. In a partnership with Water Tower Estates, the college sponsors STATE Sauvignon Blanc. Twenty percent of the proceeds from the sale of the wine are donated to the Bridge the Gap scholarship.

School Overview

Tuition: $426 per credit hour
Student-Teacher Ratio: 25:1
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Valparaiso University – tied at 21 points

  • Valparaiso, Indiana
  • Graduation Rate: 66%
Valparaiso University outdoor sign

Valparaiso University’s MBA program is flexible and versatile, offering courses both online and in person, part-time or full-time, and six different start dates. Full-time students can finish in one year with accelerated, seven-week courses. Students further benefit from the Valpo MBA’s stackable curriculum, which grants three business certificates in addition to the MBA degree. Students can further specialize and choose from six different concentrations to ensure the program meets their professional goals.

Concentrations: Business Intelligence, Engineering Management, Finance, General Business, Management, SAP

School Overview

Tuition: $650 per credit hour
Student-Teacher Ratio: 10:1
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Indiana Wesleyan University – tied at 21 points

  • Marion, Indiana
  • Graduation Rate: 64%

Indiana Wesleyan University is a Christian Methodist school with an online or onsite option for an MBA degree. The college has a reputation for focusing on leadership, character, service, and diversity. The website states that diversity is not merely something to be done out of duty or to increase demographics but as an essential ingredient of learning and growing. The small ratio of students to teachers allows for a more personalized experience in this Christ-centered atmosphere.

School Overview

Tuition: $559 per credit hour
Student-Teacher Ratio: 15:1
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Grace College – 19 points

  • Winona Lake, Indiana
  • Graduation Rate: 65%

A Christian college, Grace College, supplies an MBA program from a biblical perspective. Grace’s mission is to send out confident, caring, compassionate adults who are ready for a career in their field. Winona Lake is a beautiful setting with various outdoor activities, including hiking, biking, shopping, and cultural events. Meet your future head-on at Grace College!

School Overview

Tuition: $555 per credit hour
Student-Teacher Ratio: 23:1
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The University of Indianapolis – 17 points

  • Indianapolis, Indiana
  • Graduation Rate: 55%

The University of Indianapolis offers several choices for their MBA plans. For the busy working student, there are evening and corporate MBA options. Students may also choose a more traditional full-time one-year MBA program. There are off-campus classes in different areas of Indianapolis to add to the mix of choices. The college provides five specialties: Finance, Global Supply Chain Management, Applied Data Analytics, Organizational Leadership, and Marketing Management.

School Overview

Tuition: $672 per credit hour
Student-Teacher Ratio: 13:1
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Trine University – 16 points

  • Angola, Indiana
  • Graduation Rate: 55%

Trine University provides an online MBA plan that works well for full-time employed students. Graduation can occur in as little as a year. The focus is on business and finance as attendees experience real-world issues and learn strategy, management, problem-solving, marketing, communications, and more.

School Overview

Tuition: $575 per credit hour
Student-Teacher Ratio: 17:1
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The University of Notre Dame, Mendoza College of Business – tied with 14 points

  • Notre Dame, Indiana
  • Graduation Rate: 73%

The University of Notre Dame, Mendoza College of Business offers several choices for an MBA degree. Students can attend for one or two years, obtain a Dual Degree MBA/MSBA, or an Executive MBA. Whichever program you choose, UND is a great place to be, and a degree from this school will be a game-changer for prospective employment. With one of the lowest student to faculty ratios, attendees will gain personalized attention and be backed by 1:1 coaching with recent alumni.

School Overview

Tuition: $3,385 per credit hour
Student-Teacher Ratio: 3:1
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Butler University, Lacy School of Business – tied with 14 points

  • Indianapolis, Indiana
  • Graduation Rate: 76%

Accredited by the AACSB, which is the highest standard for business schools, Butler Univeristy Lacy School of Business offers an experiential MBA degree program. Students make their schedule within the constraints of the classes, and the program is very student-focused. Some students finish in 2 1/2 years but are allowed up to 5 years. Set in beautiful Indianapolis, the college is perfect for the business-minded scholar.

School Overview

Tuition: $1,723 per credit hour
Student-Teacher Ratio: 11:1
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Indiana University, Kelley School of Business – 7 points

  • Bloomington, Indiana
  • Graduation Rate: 78%

Indiana University’s Kelley School of Business is an innovative, forward-moving program that is experience and mentorship based. The college has won many research and teaching awards, and they offer a global opportunity as well. Their MBA program offers many specialties, including a Medicine Physician’s MBA. Targeting diversity is the IU goal, including underrepresented minorities, women, LGBTQ+, and international students. There are various scholarships, organizations, training, support programs, and events to ensure that URM students are encouraged.

School Overview

Tuition: $1,161 per credit hour
Student-Teacher Ratio: 33:1
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Methodology We Used

Many college ranking websites use only one way of determining the ranking for a college. Top-notch schools get the top rankings, and everyone else is at the bottom or not mentioned at all. While this is one way to do things, we at Best Value Schools feel many excellent schools are not considered ivy-league. Also, not everyone can afford the most expensive schools, and those schools limit the number of students they accept.

To rate the schools above, we used a point system based first on the tuition rate. This part of the point system counts for 2/3 of the overall score. The second factor that we looked at was the student-to-teacher ratio, which calculated for 1/3 of the total score. The schools with the lowest tuition and ratio received the most points. This way, you can find an affordable school and get plenty of attention and guidance from your professors.

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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