Venturing into affordable online master’s in entrepreneurship programs can give innovative sole proprietors the fiscal footing to patent profitable startups. Forbes reported a hot entrepreneurial economy in 2017 as startup investments reached an all-time high of $148 billion. The number of self-employed freelancers has surpassed 8.75 million with 7.4 percent of U.S. job seekers starting their own businesses according to Fortune.
Nine of 10 startups still fail though, so earning an entrepreneurship master’s online could pay off with the strategic managerial acumen to succeed. Accredited graduate B-schools often have entrepreneurship courses devoted to brainstorming, planning, launching, and operating new corporations. Following in the MBA footsteps of entrepreneurs like Elon Musk and Michael Bloomberg is recommended by LinkedIn to spark creativity, problem-solving, leadership, and networking.
At Grad School Hub, our staff seeks to serve as business incubators by connecting future moguls to cheap entrepreneurship master’s online that are worthy investments. On the National Center for Education Statistics’ College Navigator, we searched for advanced degrees in entrepreneurship delivered via distance education. Google was consulted to find missing programs and draw our initial pool of 23. Quality matters most, so we practiced due diligence by checking each entrepreneurship school for CHEA-recognized regional accreditations. Kudos were also given to online colleges holding AACSB, ACBSP, or IACBE business accreditation. Next, we merged financial data for 2016-17 to sort the programs from highest to lowest average in-state graduate price. The following are the 10 least expensive masters in entrepreneurship online degrees where annual costs fall below $13,000!
Ranking Low-Cost Entrepreneurship Master’s Online
10. East Texas Baptist University
Online Master of Business Administration in Entrepreneurial Leadership
Average Graduate Tuition: $12,915 per year
Sitting atop a 250-acre campus in Marshall, an All-America City Award winner, East Texas Baptist University is a private, nonprofit Christian teaching institution established on Isaac Van Zandt’s estate in 1912 that’s endowed for $56.15 million to serve 1,450 Tigers in 40+ programs face-to-face and on Blackboard. ETBU is recognized for America’s 191st most conservatism on Niche, 239th best graduation rate in Washington Monthly, and 238th most popular business programs by College Factual. Hosting a Sigma Beta Delta chapter, the ACBSP-accredited Fred Hale School of Business offers fast eight-week courses for the Online Master of Business Administration in Entrepreneurial Leadership. The 33-credit, 16-month curriculum organized by Dr. Barry Evans immerses traditional or working post-grads with minimum 2.75 GPAs into topics like Free Market Economics and Social Media Information Systems.
9. Clarion University of Pennsylvania
MBA Innovation and Entrepreneurship Concentration Online
Average Graduate Tuition: $11,592 per year
Generating an economic impact of $300 million annually, Clarion University of Pennsylvania has been a public, coeducational PASSHE member since 1982 to instruct 5,225 Golden Eagles from 11 countries with a 19:1 student-faculty ratio in Clarion, Oil City, Pittsburgh, and online via D2L Brightspace. Clarion is applauded for America’s 110th best online MBA by the U.S. News & World Report, 138th highest graduation rate in Washington Monthly, and 284th most valuable education on The Economist. The AACSB-accredited College of Business Administration & Information Sciences has an MBA Innovation and Entrepreneurship Concentration Online with an optional Five-Year Bachelor’s to MBA track. Directed by Dr. Phillip Frese in Still Hall, Web courses like Marketing Decision Making and Strategic Business Policy lead to an entrepreneurial practicum for this 33-credit, competency-based degree.
8. University of Arizona
Online Eller MBA with Entrepreneurship Concentration
Average Graduate Tuition: $11,372 per year
Housing the Chris & Carol McGuire Center for Entrepreneurship since 1984, the University of Arizona is a public, research-intensive AAU and Pac-12 member that’s endowed for $660 million to welcome 43,625 Wildcats onto its 380-acre Speedway Boulevard campus and the Blackboard platform. Arizona is crowned America’s 46th best university by the CWUR, 68th top business school in Financial Times, and 129th most diverse college on Niche. Also ranked 15th nationally by the U.S. News & World Report, the Online MBA with Entrepreneurship Concentration option draws on the Karl Eller College of Management’s century-long tradition of excellence in Tucson. Coordinated by Dr. Stanley Reynolds, the 45-unit, non-thesis curriculum gives 24/7 asynchronous delivery to courses like Fundamental Financial Modeling and Global Social Entrepreneurship for over 100 post-grads with a median GMAT score of 593.
7. Peru State College
Master of Science in Organizational Management – Entrepreneurial and Economic Development Online
Average Graduate Tuition: $7,800 per year
Established by Methodists as Mount Vernon Seminary in 1865, Peru State College is a public, state-funded NAIA liberal arts school that’s endowed for $10.5 million and experiencing a Renaissance of growth with 3,458 Bobcats enrolled at its 104-acre “Campus of a Thousand Oaks” and online. Peru State is designated America’s 144th most focused business school by College Factual, 310th best master’s institution in Washington Monthly, and 403rd top conservative college on Niche. Chaired by Dr. Greg Galardi, the School of Professional Studies launched the Master of Science in Organizational Management – Entrepreneurial and Economic Development Online. Starting with a one-hour Blackboard orientation, the 36-credit MSOM major facilitates enterprise evolution with courses like New Venture Planning and E-Commerce that end with a 16-week internship, thesis, or action research project.
6. Post University
Online Master of Business Administration (MBA) in Entrepreneurship
Average Graduate Tuition: $7,500 per year
Linked to 15,123 LinkedIn alumni, including Jay Alix and Selim Noujaim, Post University is a private, for-profit higher learning institution founded in 1890 that “Makes it Personal” for 7,317 Eagles studying atop its 58-acre Waterbury campus off Yankee Expressway and online. Belonging to the Alternative Credit Consortium, Post is ranked America’s 139th best online MBA school by the U.S. News & World Report and 31st top university on OnlineDegreeReviews.org with the 145th highest-paid business grads by College Factual. Named for the 1980s Secretary of Commerce, the ACBSP-accredited Malcolm Baldrige School of Business confers an Online Master of Business Administration (MBA) in Entrepreneurship. The 36-credit, two-year program managed by Dr. Christopher Szpryngel moves concepts to startup completion with courses like Operational Financial Management and the applied strategic capstone.
5. American Public University System
Master of Arts in Entrepreneurship Online
Charles Town, WV
Average Graduate Tuition: $6,300 per year
Enrolling 82,624 Volunteers total with 39 percent graduation, the American Public University System is a private, for-profit two-college entity founded in 2002 that’s tripled revenue to $198 million annually through regionally accredited distance instruction on Sakai. Given a 2016 Reimagine Education Award, APU is deemed America’s 94th top online college by the U.S. News & World Report and the Southeast’s fourth best value in Washington Monthly with 3.8/5 stars on GradReports.com. Affiliated with the Student Veterans of America, the ACBSP-accredited School of Business presents a Master of Arts in Entrepreneurship Online within 24 months. Starting monthly under Dr. Cassandra Shaw, the 36-credit curriculum has eight- and 16-week schedules for courses like Venture Capital and Managerial Analysis before the business plan project. Also consider APU’s broad-based MBA Entrepreneurship Concentration Online.
4. University of Houston-Victoria
Online MS Economic Development and Entrepreneurship
Average Graduate Tuition: $5,798 per year
Gifting $35 million in annual financial aid, including the Glenn and Joyce Goerke Scholarship, the University of Houston-Victoria is a public, Hispanic-serving AASCU institution founded in 1973 that’s enrolling 4,429 Jags at an 18:1 student-faculty ratio on its 20-acre Gulf Coast campus and online via Blackboard. UHV is honored for America’s 12th most ethnic diversity by the U.S. News & World Report, 176th most Peace Corps graduates in Washington Monthly, and 107th most popular business education on College Factual. Led by Dr. James Jordan-Wagner, the School of Business Administration accepts applications until June 1st or October 1st for the Online MS Economic Development and Entrepreneurship. Rooted in courses like Growing Fledging Ventures, the 30-credit, practice-based curriculum has produced alumni who founded Zeus Mortgage, Aramburo Enterprises, Crafty Chics, and more.
3. Oklahoma State University
Master’s in Entrepreneurship (MSE) Online
Average Graduate Tuition: $5,033 per year
Reporting a median mid-career alumni salary of $94,440 on PayScale, Oklahoma State University is a public, sun-grant RU/VH institution with the renowned Riata Center for Entrepreneurship that’s endowed for $903 million to instruct 35,073 systemwide in Stillwater, Okmulgee, Oklahoma City, Tulsa, and online. OSU is congratulated for America’s 42nd best online business courses by the U.S. News & World Report, fifth least MBA debt on Student Loan Hero, and 146th top research in Forbes. Granted the 2012 NASDAQ Excellence Award, the AACSB-accredited Watson Graduate School of Management provides the Master’s in Entrepreneurship (MSE) Online for students with baccalaureate GPAs above 2.75. Directed by Dr. Ramesh Sharda, the 33-credit, two-year program sharpens venture creation skills via courses like Operations Management or Entrepreneurial Marketing and an optional Riata internship.
2. Western Carolina University
Online Master of Innovation Leadership and Entrepreneurship
Average Graduate Tuition: $4,348 per year
Featuring 175+ clubs like FBLA Phi Beta Lambda, Western Carolina University is the UNC system’s fifth oldest public, coeducational member founded in 1889 that’s endowed for $64.5 million to attract 1,631 post-grad Catamounts to 35 master’s programs in Cullowhee, Asheville, Cherokee, or online through Blackboard. Western Carolina is declared America’s 216th most selective college on Niche, 59th top online business school by the U.S. News & World Report, and 58th best university on the Social Mobility Index. Standing among Fortune’s top five E-Schools, the AACSB-accredited College of Business accepts $65 applications until January 1st or August 15th annually for the Online Master of Innovation Leadership and Entrepreneurship. The 39-credit, non-thesis program overseen by Dr. Bob Lahm adheres to the Consortium for Entrepreneurship Education’s NCSEE guidelines with a capstone business pitch.
1. Fayetteville State University
MBA with a Concentration in Entrepreneurship Online
Average Graduate Tuition: $3,371 per year
Opened in 1867 by the Freedmen’s Bureau chief Oliver O. Howard, Fayetteville State University is a public, historically Black TMCF member that’s endowed for $19 million to charge 6,020 diverse Broncos our list’s lowest price for 67 programs on its 200-acre Cumberland County campus and online via Canvas. Fayetteville was chosen for America’s 170th best professors on Niche, 63rd best opportunities by the Social Mobility Index, and 31st top research expenditures in Washington Monthly. The AACSB-accredited College of Business & Economics utilizes Zoom video conferences for the MBA with a Concentration in Entrepreneurship Online. Directed by Dr. Petur Jonsson, the 36-credit, self-paced program takes 12-72 months for students with an average GMAT score of 482 to finish courses like Electronic Commerce and Security Analysis before the capstone small business project.
Other Master’s in Entrepreneurship Management Online Degree Offerings
Online and Part-Time MBA with a Focus on Entrepreneurship
Average Graduate Tuition: $13,524 per year
Master of Business Administration (MBA) in Entrepreneurship Online
Average Graduate Tuition: $14,247 per year
Online Master of Business Administration (MBA) in Entrepreneurship
Average Graduate Tuition: $15,120 per year
Fox MBA Concentration in Entrepreneurship Online
Average Graduate Tuition: $15,786 per year
Full Sail University (Only possesses national ACCSC accreditation)
Online Master of Science in Innovation & Entrepreneurship
Average Graduate Tuition: $16,401 per year
Master’s Degree in Entrepreneurship Online
Average Graduate Tuition: $16,800 per year
Online M.B.A. Concentration in Entrepreneurship and Managing Innovation
Average Graduate Tuition: $17,168 per year
Master of Business Administration (M.B.A.) in Entrepreneurship Online
Average Graduate Tuition: $18,530 per year
Online MBA Concentration in Corporate Innovation and Entrepreneurship
Average Graduate Tuition: $19,964 per year
MBA with Innovation Entrepreneurship Concentration Online
Average Graduate Tuition: $22,633 per year
Online Flex MBA Corporate Entrepreneurship Concentration
Average Graduate Tuition: $25,560 per year
MBA Concentration in Entrepreneurship Online
Average Graduate Tuition: $32,333 per year
Online [email protected] with the Entrepreneurship Specialization
Average Graduate Tuition: $34,632 per year
Which Career Opportunities Open After Online Entrepreneurship Master’s Study?
Earning an online master’s in entrepreneurship gives trendsetters the business wings to help startups and existing corporations fly. Having in-depth knowledge of organizational structures and strategies would bode well for virtually all upper-level jobs, except professorships needing a doctorate. Master’s graduates could also pair their entrepreneurial spirit with in-demand industry certifications for marketability. For instance, the Small Business Research Institute offers the Certified Entrepreneurial Advisor (CEA) program for $29-$39 per month. The Project Management Institute has computer-based exams for designations like Professional in Business Analysis (PBA). Let’s look into four sample careers where an entrepreneurship master’s online would be viewed favorably.
Entrepreneur- The Global Entrepreneurship Monitor from Babson discovered that 27 million Americans have founded their own businesses, so this is an obvious route for online master’s in entrepreneurship students. Entrepreneurs design new products, patent their innovation, set pricing, create long-term growth goals, market their brand, hire assistants, track accounts payable/receivable, present to investors, and run customer service.
Startup Consultant- Small businesses experiencing rocky launches could hire online entrepreneurship master’s grads for intuitive guidance and strategies for improving operational growth. Startup consultants work freelance to analyze client problems, track sales cycles, assess market demand, present development plans, set actionable goals, negotiate better contracts, train newbie owners, attract investors, and monitor profitability progress.
Business Development Manager- Getting an entrepreneurship master’s online could equip you for CNN Money‘s 32nd best job identifying ways existing corporations can expand with lucrative ventures. Business development managers contact potential partners, research market opportunities, generate sales leads, pitch new goods/services, build fruitful vendor relationships, oversee mergers, attend networking conferences, and nurture brand loyalty.
Chief Innovation Officer- One of the newest C-Suite roles, Chief Innovation Officer, would be suitable for entrepreneurship master’s online graduates to formulate new corporate changes that boost industry competition. CINOs scout market research, expand current business boundaries, crowdsource creative ideas, direct seed funding, invest in promising projects, establish venture budgets, see changes to fruition, and report to the executives.
How Much Do Entrepreneurship Master’s Online Graduates Earn?
Picking a cheap entrepreneurship master’s is smart because immediate income isn’t guaranteed in startups. While the richest entrepreneurs in Inc. Magazine are Bill Gates with $76 billion and Carlos Slim Helu with $72 billion, the average salary is just $64,970. Business occupations provide a median yearly wage of $66,530, which is higher than the overall $37,040 average according to the U.S. Department of Labor. Management analysts snag a mean consulting income of $91,910. Business development managers earn $100,790 on average. Sales managers take median pay of $117,960. The 223,260 chief executives bring home mean profits of $194,350. On Salary.com, small business finance managers report median revenue of $156,495. Other six-figure averages include $136,063 for marketing directors, $127,432 for e-commerce managers, and $131,724 for product managers.
What is the Employment Outlook for a Master’s in Entrepreneurship Online Degree?
Now’s an excellent time to pursue entrepreneurship online MBAs because the Bureau of Labor Statistics foresees a 10 percent uptick in business hiring through 2026 for 773,800 jobs. Top executive positions like Chief Innovation Officer will grow by 8 percent. Administrative services managers will see demand spike by 10 percent for 310,200 total employment. Faster-than-average job growth of 14 percent is expected for management consultants. One of the biggest draws to entrepreneurship is the ability to generate one’s own self-employed prospects though. According to the Kauffman Foundation, the most in-demand industries for entrepreneurs are corporate wellness, human resources, food/beverage, social networking, and Internet broadcasting. Get inspired to join the 28.8 million U.S. small businesses that generate 1.1 million jobs yearly in these online master’s in entrepreneurship programs.