The Master of Business Administration (MBA) is the standard by which all business degrees are measured. For many in the business world, earning an MBA is considered a necessity for advancing your career — and it doesn’t hurt that it’s a smart choice. Even with increasingly competitive job markets and skyrocketing costs of living, some Michigan MBA programs see 96% of graduates receiving job offers within three months, and median base salaries as high as $175,000.
In this guide, we cover quality information and advice on MBA specializations and the importance of choosing the right one. Additionally, we cover the cost of online MBA programs in Michigan, financial aid opportunities to help you pay for your program, job outlooks and salaries for new MBA graduates, and much more. So, if you’re ready to take your business career to the next level, keep reading to discover how to earn your MBA from one of Michigan’s best programs in 2024.
2024’s Best Online MBA Programs in Michigan
We’re spotlighting the best Michigan online MBA programs to get you started on your program search. Each offers a combination of key program features in the areas of accreditation, affordability, curriculum comprehensiveness, study convenience and flexibility, and access to valuable student support services. When it comes to quality online Michigan MBAs, here are this year’s standout programs.
Concordia University Ann Arbor offers a versatile, fully online MBA program tailored for full-time working students. It includes five core classes, four classes in a chosen area of concentration, two experiential learning courses, and a capstone course, all delivered in an accelerated eight-week format. Students can choose from 14 MBA concentrations, like communication and public relations, management, and sustainability. They also have the option to study abroad in China or Austria for additional experiential learning. With no GRE or GMAT requirement, this MBA is an accessible stepping stone for career advancement or further education with a Doctor of Business Administration.
Program Highlights:
Master of Business Administration
- Credits: 36
- Length: Two years
- Mode: Fully online
- Accreditation: IACBE
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
Students looking for a flexible, fully online MBA program should consider the Master of Business Administration from The University of Michigan-Dearborn. This MBA is designed for professionals seeking to deepen their business acumen with a focus on contemporary skills and knowledge. The program’s 27-credit core covers essential business fundamentals, including marketing management, organizational behavior, and operations management. For those with specific career goals, the program offers a general or applied integrated management path that’s achievable with an additional four courses. Additionally, students can opt for one of six concentrations, including accounting, information systems management, and marketing.
Program Highlights:
Master of Business Administration
- Credits: 36-48
- Length: Two to three years
- Mode: Fully online
- Accreditation: AACSB
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
Davenport University’s Master of Business Administration program caters to a diverse range of student needs, offering a 30-credit MBA for those seeking a quicker graduation and an extended option with nine additional credits for students seeking specialization. This 100% online program offers concentrations like cybersecurity management, health care management, and leadership strategies, which provide students with the opportunity to tailor their MBA to their career goals and interests. Each student completes a capstone project in the final semester, which provides the opportunity to delve into practical, real-world experience. Six start dates throughout the year and no-GMAT admissions make this program especially accessible and convenient.
Program Highlights:
Master of Business Administration
- Credits: 30 or 39
- Length: Two to three years
- Mode: Fully online
- Accreditation: IACBE
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
Popular Online MBA Specializations in Michigan
As the spotlights above indicate, many Michigan online MBA programs offer students the option of tailoring their studies to specialize in a particular area of business. Specializations (or concentrations) are a great way for MBA students to graduate with a built-in competitive advantage in the job market for positions in their chosen field. The importance of selecting the right specialization cannot be overstated, though, since that choice will likely play a significant role in the student’s future career trajectory.
Here are six of the most common specializations available through Michigan online MBA programs:
MBA with an Emphasis in Finance
The finance concentrated MBA focuses on the management of money and other assets (stocks, bonds, property, equipment, etc.) to prepare students to handle the financial needs of both businesses and individuals. Coursework covers subjects such as securities analysis, investment, risk management, real estate, banking, insurance, corporate strategy and valuation, domestic and international financial markets, and more.
Online MBA Programs in Michigan with a Finance Specialization
MBA with an Emphasis in Healthcare Administration/Management
This specialty is designed for MBA students interested in becoming leaders in the rapidly growing field of healthcare administration and management. Course topics include healthcare finance and marketing, leadership and human resource management, legal and ethical issues in healthcare, performance and improvement in healthcare services, and more. Graduates find employment at hospitals, nursing homes, and acute care facilities, as well as with healthcare providers and insurance companies, medical supply companies, and many others.
Online MBA Programs in Michigan with a Healthcare Specialization
MBA with an Emphasis in Human Resource Management
Students opting for the MBA with a human resources specialization develop effective leadership skills in communications, delegation, and decision-making in support of an organization’s most valuable asset: its employees. Subjects covered include strategic planning, fiscal management, employee recruitment, training and retention, compensation administration, negotiation and dispute resolution, employment laws and regulations, and more.
Online MBA Programs in Michigan with an HR Specialization
MBA with an Emphasis in Information Systems Management
The information systems management specialized MBA is designed for students seeking to lead IT departments in larger businesses and organizations. Course subjects include management information systems, data communication, network security, systems analysis and design, and legal and ethical issues in IT management. Students are also trained in the use of SAP business software, a skill in high demand throughout the business world today.
Online MBA Programs in Michigan with an Information Systems Specialization
MBA with an Emphasis in International Business/Global Leadership
The international business specialization prepares students for effective leadership on a global level. Students choosing this specialization gain knowledge and skills in areas such as international finance, global supply chain management, multinational marketing strategy, and cross-cultural relations. With global markets becoming a necessity for more and more organizations today, MBA graduates with these specialized skills have never been in higher demand.
Online MBA Programs in Michigan with an International Business Specialization
University of Michigan – Flint
MBA with an Emphasis in Marketing
The MBA with a marketing specialization provides students with the knowledge and skills required to develop and execute successful marketing strategies and campaigns for a business’s goods and services. Examples of courses offered in the specialization include strategic marketing, advertising and promotion management, market research and data analysis, digital marketing and social media, and global marketing strategies.
Online MBA Programs in Michigan with a Marketing Specialization
Frequently Asked Questions About Earning Your MBA Online in Michigan
What is the average cost of an MBA program in Michigan?
Program costs for online MBA programs in Michigan vary, sometimes substantially. Major factors affecting cost include whether the school is public or private (private schools often charge a higher tuition rate than public schools) and whether the student legally resides in or outside of Michigan (many public schools charge a higher tuition rate to out-of-state residents). It’s also very important to include any financial aid benefits you’ll receive when calculating your program’s bottom line.
With all of that in mind, Michigan residents in public MBA programs should expect to pay something in the range of $30,000 to $35,000 total (tuition and fees) for their degrees. Out-of state residents in public MBA programs that charge out-of-state rates can expect costs of anywhere from $40,000 to $55,000. Some private program costs are surprisingly similar to those for public programs and others are quite a bit higher, with the price ranging from $30,000 to $50,000.
What does an MBA admissions process in Michigan look like?
Common application requirements for most Michigan online MBA programs include:
- A bachelor’s degree in any major from a regionally-accredited college or university earned with a stated minimum GPA.
- A current resume or CV.
- Letters of recommendation.
- Statement of purpose and/or personal essay.
- Admission exam (GMAT/GRE) scores are typically required, although many programs waive the requirement for students meeting stated criteria (see below).
The MBA program at the University of Michigan–Flint provides a good example of the typical admission requirements for online MBA programs in Michigan. Bear in mind, though, that requirements differ from program to program, so be sure you understand exactly what’s required for any program you’re interested in before you apply.
How quickly can I earn an online MBA in Michigan?
That will likely depend on the study pace you follow. That’s because most online MBA programs in Michigan allow students a good amount of leeway when it comes to how many classes they take each semester and how long they take to complete all requirements. There are exceptions, though. One example is Michigan State University’s Hybrid Executive MBA, which has a set 20-month program length.
Additionally, accelerated-format MBA programs can be completed in as little as one year. That being said, average completion times for most online MBA students in Michigan run from 18 months to three years. Also, most programs set a maximum program length. For example, Concordia University and the University of Michigan–Flint both set a maximum completion time of seven years for their MBA programs.
Is the GMAT required to get into an MBA program in Michigan?
Most Michigan online MBA programs have some form of admission test (GMAT or GRE) requirement. There are exceptions. For example, both the program at Spring Arbor University (spotlighted above) and the partially-online Michigan State Executive MBA program have no GMAT/GRE requirement. Programs with GMAT/GRE requirements often provide waivers to applicants who meet specific conditions.
Examples include the University of Michigan–Dearborn (spotlighted above), which waives its GMAT/GRE requirement for applicants with either a bachelor’s degree in business or engineering or three years of professional work experience. The MBA program at Northern Michigan University provides GMAT/GRE waivers to applicants with either a master’s or doctorate degree or a cumulative undergraduate GPA of 3.0 or higher.
In Michigan, what is the ROI on an MBA vs a bachelor’s degree in business?
Return on investment (ROI) for a college degree refers to the total gain in money earned by the degree holder over a given period of time. There are numerous ways you can calculate the ROI of an MBA degree. One way is to compare how much more an MBA degree holder will earn over the course of a 40-year career versus someone with only a bachelor’s degree.
For example, using recent figures taken from PayScale, the median annual base salary for professionals with an MBA degree is $98,000. That’s $20,000 a year more—a 23% increase—than the $78,000 median annual base salary for someone with just a bachelor of business administration degree. After subtracting the total cost of an MBA program (which we’ll put at $40,000 for this example) that’s a gain of approximately $760,000 over 40 years.
What accreditations should I look for in an online MBA program in Michigan?
There are two forms of accreditation to look for during your MBA program search: institutional and programmatic. Institutional accreditation concerns the vetting of colleges and universities as a whole. Institutional accreditation of U.S. postsecondary schools is overseen by a number of independent regional and national agencies recognized by the U.S. Department of Education.
Programmatic accreditation has to do with the approval of degree programs in a specific field. The best- known accreditation body for MBA programs in the United States, both online and on campus, is the Association to Advance Collegiate Schools of Business (AACSB). It’s not the only one, however. There are two other major MBA accreditors in the US: the Accreditation Council for Business Schools and Programs (ACBSP) and the International Accreditation Council for Business Education (IACBE).
Most Michigan online MBA programs have accreditation from one of these organizations. There are, however, some quality online MBA programs in Michigan without programmatic accreditation. Don’t dismiss these programs out-of-hand. Just make sure that they’re properly institutionally accredited and consider programmatic accreditation as one of the many factors you weigh in your program selection process.
Financial Aid and Scholarships for MBA Students in Michigan
If you’re like practically all prospective MBA students, you’re going to need some help to pay for your degree program. The good news is that a full range of financial aid sources is available to qualifying Michigan online MBA students. This includes scholarships and grants, assistantships, work-study jobs, employer tuition assistance programs, and VA benefits (for active-duty military and veterans).
Plus, don’t overlook the most popular financial aid source of all, the student loan (including those offered by the U.S. Department of Education). For more valuable information and advice on funding opportunities, be sure to check out OMD’s financial aid, employer tuition assistance and scholarships guides for online MBA programs.
Examples of scholarships offered by Michigan online MBA programs exclusively for their students include:
Broad Executive MBA Scholarships (Michigan State University)
Charles Erickson Rachor Memorial Scholarship (University of Michigan–Flint)
College of Business Graduate Admission Scholarship (University of Michigan–Dearborn)
Jeanette (Groh) and Neal Bench MBA Endowed Scholarship (Eastern Michigan University)
Margaret J. Pond Endowed Scholarship for MBA Students (Wayne State University)
Salary Potential for MBA Grads in Michigan
As mentioned earlier, many in the business world consider an MBA degree a necessity for anyone seeking meaningful advancement in their business career. What’s more, the market for new MBA graduates is very strong. According to this recent article from Fortune, MBA graduates in 2022 were earning base salaries of $115,000. And some industries, including tech and consulting, were offering starting pay packages climbing into the $200,000 to $400,000 range.
Those figures are impressive, but they’re not typical. They’re also not specific to the hiring of MBA graduates in Michigan. To give you an idea of just how the market is for Michigan MBA grads, we’ve put together the chart below with recent Michigan job growth and salary figures for five of the most popular job titles for MBA degree holders. What you actually earn will, of course, depend on several factors, including your specific job title, your specific employer, your geographic location within Michigan, and how many years of professional experience you have.
| MI Job Growth Rate | Average Annual Openings in MI | Annual MI Salary (2023) | |
|---|---|---|---|
Financial Managers | 17.6% | 1,490 | $147,550 |
General and Operations Managers | 11.9% | 6,550 | $118,150 |
Human Resources Managers | 9.9% | 360 | $136,910 |
Marketing Managers | 9.8% | 500 | $142,240 |
Medical and Health Services Managers | 31.5% | 1,510 | $118,870 |