Best Online Business Management Degrees

Are you ready to reach your potential and achieve the worthy goal of getting your degree?

A business management degree is a versatile degree option that will open doors for you in practically any industry of your choice — from finance and retail to health care, manufacturing, and beyond. But what is an online business management degree? This degree is designed to help you build a foundation in business and learn the skills necessary to lead an organization, such as communication, finance, human resources, organization, analysis, marketing, and so forth.

But deciding to get your degree is only the first step. You must also choose where you’re going to get your degree, and the hundreds of options out there can be overwhelming. That’s why we’ve compiled a list of the best business management degrees; we want prospective students like you to be able to easily compare institutions and degrees from an unbiased source so making the right choice becomes easy and logical. Let’s match you with the best online business degree for your needs!

Portrait of motivated and happy male student studying

What Is an Online Business Management Degree?

Before we jump right in, let’s talk a little bit about what a business management degree is and what you can expect from this degree. Business management degrees are designed to teach you all of the essential skills (leadership, communication, ethics, etc.) necessary to run any size of business from a startup to a multinational corporation and to supervise those within it. While earning the degree, you can expect some exposure to:

  • Human resource functions;
  • Finance concepts;
  • Statistical concepts;
  • Economic concepts;
  • Interpersonal skills;
  • Conflict resolution; and
  • Other skills needed to grow, scale, and manage an organization.

An online business management degree is the same as a traditional business management degree earned in person — except it’s administered in a self-guided, online format. While in-person students will attend their classes on campus, online students will learn via reading assignments, videos, and online lectures. Students who opt for online learning must be self-motivated, responsible, trustworthy, and excellent at managing their time.

Business Management vs. Business Administration

Business management is often confused with business administration, but they’re a little different in that business management focuses on the broad aspects of running a business while business administration lends itself to more specialized knowledge. Business administration majors, for example, tend to focus their studies on a specific aspect of business management and end up in careers such as accounting, marketing, and risk management whereas business management students assume big-picture roles like operations management.

Best Online Business Management Degrees

When selecting an online business management degree, there’s a lot to consider. You want to find an institution that is cost-effective, accredited, distinguished, and yields a good return on your investment. You might also be looking to accelerate your education. But with so many colleges claiming to be the best in these ways, how can you know for sure? Below, we’ve hand-selected a number of online business management programs that fit each of these criteria.

1

Excelsior College

Location: Online (based in Albany, NY)

Cost of attendance: $26,790.00 total (%tuition_2% per year or %tuition_3% per credit)

Accreditation: Middle States Commission on Higher Education

2

Western Governors University

Location: Online (based in Salt Lake City, UT)

Fastest time to graduation: 19 Months

Acceptance rate: 100%

Graduation rate: 50%

Cost of attendance: $7,452.00 per year

Accreditation: Northwest Commission on Colleges and Universities

Admission requirements

  • Application form
  • Official high school/college transcripts
  • Nonrefundable application fee of $65

Unique offerings

  • Competency-based education; charges by the term rather than by the credit so students can graduate faster and control the total cost of their degree
  • Known for excellent distance learning
  • Awarded for high performance
3

Arizona State Online

Location: Online (based in Scottsdale, AZ)

Acceptance rate: 88%

Graduation rate: 67%

Cost of attendance: $25,214.00 total

Accreditation: Higher Learning Commission

Admission requirements

  • High school GPA of 3.0 or higher
  • Application form
  • Nonrefundable application fee of $70
  • ACT or SAT scores
  • Official transcripts
4

Capella University

Location: Online

Fastest time to graduation: 12 Months

Acceptance rate: 100%

Cost of attendance: $14,148.00 per year

Accreditation: Higher Learning Commission

Admission requirements

  • Application form
  • Official high school/college transcripts
  • Nonrefundable application fee of $50
  • English proficiency
  • Must meet FlexPath requirements (talk to program advisor for details)

Unique offerings

  • The FlexPath system enables students to take as many courses as they desire in each 12-week billing session
  • Flat-rate tuition fee per session
  • No courseroom discussions
  • Students can set their own deadlines
5

Southern New Hampshire University

Location: Online (based in Manchester, NH)

Graduation rate: 54%

Cost of attendance: $15,380.00 per year

Accreditation: New England Commission of Higher Education

6

Columbia Southern University

Location: Online (based in Orange Beach, AL)

Cost of attendance: $5,533.00 per year

Accreditation: Southern Association of Colleges and Schools Commission on Colleges

7

Arizona State Online

Location: Online (based in Scottsdale, AZ)

Acceptance rate: 88%

Graduation rate: 67%

Cost of attendance: $25,214.00 total

Accreditation: Higher Learning Commission

Admission requirements

  • High school GPA of 3.0 or higher
  • Application form
  • Nonrefundable application fee of $70
  • ACT or SAT scores
  • Official transcripts
8

University of Phoenix

Location: Online (based in Phoenix, AZ)

Graduation rate: 28%

Cost of attendance: $19,282.00 total (%tuition_2% per year or %tuition_3% per credit)

Accreditation: Higher Learning Commission

9

Walden University

Location: Online (based in Minneapolis, MN)

Acceptance rate: 100%

Graduation rate: 27%

Cost of attendance: $24,240.00 total

Accreditation: Higher Learning Commission

Admission requirements

  • Official transcripts
  • Applicable test scores
  • Completed online application
  • List of transfer credits
10

Colorado Technical University

Location: Online (based in Colorado Springs, CO)

Graduation rate: 27%

Cost of attendance: $24,143.00 total (%tuition_2% per year or %tuition_3% per credit)

Accreditation: Higher Learning Commission

11

DeVry University

Location: Online (based in Naperville, IL)

Cost of attendance: $17,808.00 total

Accreditation: Higher Learning Commission

12

Purdue University Global

Location: Online (based in West Lafayette, IN)

Graduation rate: 27%

Cost of attendance: In-State is $10,125.00 per year, Out-of-State is $14,436.00 per year

Accreditation: Higher Learning Commission

Here are some of the best schools to attend based on the US News Best Colleges survey of 2022. These schools were measured against 1,466 other bachelor’s degree-conferring institutions in the United States based on 17 measures of academic quality, including performance, academic reputation, graduation rate, retention, and more.

1

University of Notre Dame

Location: Online (based in Notre Dame, IN)

National rankings: #19 in National Universities, #11 in Best Undergraduate Teaching

Acceptance rate: 15.8%

Cost of attendance: $58,843.00 per year

Accreditation: Higher Learning Commission

Admission requirements

  • Application form
  • Official high school/college transcripts demonstrating superior academic performance
  • Nonrefundable application fee of $75
  • Writing supplement
  • SAT/ACT test scores
  • List of extracurricular activities
  • Letters of evaluation
  • Application essay
  • Examples of talent (optional)
  • Counselor evaluation (optional)

Unique offerings

  • Education with a focus on traditional Roman Catholic values
  • High level of school spirit
  • Broad international community
  • World-class research institution
  • 95% graduation rate and 97% retention
2

Dartmouth

Location: Online (based in North Dartmouth, MA)

National rankings: #13 in National Universities, #5 in Best Undergraduate Teaching

Acceptance rate: 7.9%

Cost of attendance: In-state is $14,408.00 per year, out-of-state is $30,153.00 per year

Accreditation: New England Association of Schools and Colleges, Commission on Institutions of Higher Education

Admission requirements

  • Application form
  • Official high school/college transcripts
  • $80 application fee
  • Writing supplement
  • Two teacher evaluations
  • SAT/ACT scores

Unique offerings

  • Ivy League status
  • Small class sizes
  • Excellent student resources available
3

Columbia University

Location: Online (based in New York City, NY)

National rankings: #2 in National Universities, #33 in Best Undergraduate Teaching

Acceptance rate: 5.4%

Cost of attendance: $63,530.00 per year

Accreditation: Middle States Commission on Higher Education

Admission requirements

  • Application form
  • Official high school/college transcripts
  • Autobiographical information
  • Personal essay
  • List of achievements
  • SAT/ACT scores
  • Teacher recommendations
  • Nonrefundable application fee of $85

Unique offerings

  • Ivy League status
  • Known for a unique core curriculum that gives students exposure to a wide range of subjects
  • Lauded for its groundbreaking research
  • Strong variety of undergraduate programs
  • Home of the Pulitzer Prize
  • Ranked among the top universities in the world

If you have the means to invest a significant sum into your education, you’re probably looking for a hefty return on investment. Some online business management programs have demonstrated a stronger correlation to high earning potential than others. Here are our top-three schools that have shown to launch students well into triple-digit salaries by the middle of their career based on data by PayScale and CNBC.

1

University of Massachusetts Amherst

Location: Online (based in Amherst, MA)

Median salary 10 years post-graduation: $100,314.00

Acceptance rate: 63.8%

Cost of attendance: In-state is $16,439.00 per year, out-of-state is $36,964.00 per year

Accreditation: New England Commission of Higher Education

Admission requirements

  • Application form
  • Official high school/college transcripts
  • Letter of recommendation
  • $85 application fee
  • SAT/ACT scores (optional)

Unique offerings

  • Highly ranked business programs
  • Student applications viewed holistically
  • Reasonable tuition; excellent value
2

University of Houston

Location: Online (based in Houston, TX)

Median salary 10 years post-graduation: $103,900.00

Acceptance rate: 65%

Cost of attendance: In-state is $9,699.00 per year, out-of-state is $21,891.00 per year

Accreditation: Southern Association of Colleges and Schools Commission on Colleges

Admission requirements

  • Application form
  • $75 application fee
  • Official high school/college transcripts
  • SAT/ACT scores

Unique offerings

  • Award-winning faculty
  • Distinguished research centers
  • World leader in business
  • Excellent value for your money
3

Purdue University

Location: Online (based in West Lafayette, IN)

Median salary 10 years post-graduation: $110,000.00

Acceptance rate: 60%

Cost of attendance: In-state is $9,992.00 per year, out-of-state is $28,794.00 per year

Accreditation: Higher Learning Commission

Admission requirements

  • Application form
  • Official high school/college transcripts
  • SAT/ACT scores
  • Proof of English proficiency (international students only)
  • Application fee
  • Answers to essay questions

Unique offerings

  • World-class education
  • Commitment to accessibility and affordability; tuition has frozen at 2013 rate
  • Enables more students to graduate without debt
  • Renowned business program

Online Business Management Degree FAQ

Is a business management degree worth it?

In short, yes, a business management degree is worth the investment of your time and money. In today’s competitive job market, even employers prefer to hire candidates with a bachelor’s degree even for entry-level positions — but not all bachelor’s degrees are created equal. Studies show that many respectable degree types have unfortunately high rates of post-graduate unemployment, such as liberal arts and English literature.

Business management degrees, on the other hand, yield low levels of unemployment and are especially good degree options to pursue. Business management allows you to work in a wide variety of industries and provides long-term job security. All kinds of businesses need leaders to guide their companies to financial stability and success, so the demand for your skills will never become obsolete.

How long does it take to get a business management degree?

A bachelor’s degree, assuming you attend school full-time without taking any time off and don’t have to retake any classes, will most likely take four years to complete. If you want to finish faster, you may take accelerated courses (not recommended for those who struggle with a work-life balance or are first-time students). A master’s in business will add an additional two years on to the total completion time.

With all of that being said, remember that earning your degree is about you and what works for your life. If you have the time to devote to full-time school, you’ll probably finish in the aforementioned timeline. But you should also consider these additional factors that will impact the amount of time you spend in school:

  • The eligibility of transfer credits from another school
  • How long it takes you to meet prerequisite program requirements
  • Whether or not you’re switching from another major
  • How much work experience you have in the field
  • Whether or not you have to work to support yourself in school and take some part-time semesters
  • Whether or not you take summer classes to progress more quickly
  • Whether or not you take competency-based education courses

What kinds of skills qualify you for a degree in business management?

The types of people who usually succeed in business management programs are usually those who have strong leadership qualities and a brain for mathematics. These programs involve statistics, calculus, accounting, and economics, which are used in the field to solve everyday problems within organizations. If you don’t like math or you prefer to follow rather than to lead, you may want to consider looking into a slightly different program. For instance, if you like the math side of business but you don’t want to be in leadership, perhaps a finance program would be a better fit for you.

What classes do you take for a business management degree?

The classes needed for a business management degree vary from school to school. Just as it is with any other type of degree, however, you will start out taking a number of general education requirements and introductory-level courses in economics, accounting, entrepreneurship, communication, business statistics, and so forth. As you progress, you’ll come to find what area of marketing interests you most and choose upper-level classes centered around those interests as well as your long-term goals.

What jobs can you get with a business management degree?

Depending on the school you attend, you may have the option to choose a concentration (specialization) within a particular area of study of the business management major. Having a concentration in one of the following can prepare you for a business management career within that field:

  • Finance
  • HR
  • Accounting
  • Marketing
  • Health care administration

Findings from Indeed show that business management majors tend to become:

  • HR representatives
  • Data analysts
  • Budget analysts
  • Business consultants
  • Market researchers
  • Directors of operations
  • Finance and sales managers

What is the business management degree salary range on average?

Having a business management degree increases your earning potential significantly. According to the Bureau of Labor Statistics (BLS), the median salary for business and financial occupations is around $72,000 per year. This could be more or less depending on the specific job in which you end up. Figures from the BLS show, for example, that as a tax collector and revenue agent, you’d make less — around $55,600 per year — and as a personal financial advisor, you could make upwards of $90,000. It’s important to remember, however, that starting salaries matter less than potential for advancement and promotion if you commit to working hard. Salary potential in this field is unlimited and tends to increase over time as you gain relevant work experience.

According to data from Indeed, business management graduates tend to make the most money in the dense, urban areas of California, Massachusetts, New York, and Washington DC with salaries reaching as high as $187,000 per year. Sparsely populated states like Idaho, Montana, and North Dakota have relatively few work opportunities for business management graduates and pay poorly for this kind of work. So, if you’re seeking the highest-possible salary after graduation, your best bet would be the Silicon Valley of California — the epicenter of bustling tech startups providing abundant opportunities for business management.

What are typical admission requirements for a business management degree?

Admission requirements are different for every school. In most cases, you will need to provide an official copy of your high school transcripts. Some schools have specific high school GPA minimums you must meet to be accepted — usually between a 2.0 and a 3.0. For a master’s program, you will need to provide a college transcript showing that a bachelor’s degree in business management was conferred.

You may also be required to write an essay along with your application and/or provide letters of recommendation. Be aware that many institutions also require an application fee which usually costs between $30 and $100. Check with the schools you’re interested in to find out what they require. You will need sufficient time to collect the required documentation from your previous schools.

How much does a business management degree cost?

According to College Tuition Compare, which has taken the average cost of all 2,645 universities in the United States offering business management degrees, tuition and fees cost $6,299 for residents and $19,689 for non-residents. Many public schools are supported by local taxpayers, so it is less expensive to attend a school in your home state. Remember that tuition rates are subject to change over time and that part-time students tend to pay less per term but more over the course of the degree. If you have to take any prep courses, you will pay a little more for those as well.

What are typical prerequisites for a business management degree program?

Some schools only admit a limited number of students into their business management program each year, and in order to get accepted, you need to meet their minimum requirements. For example, you may need to take an intro to statistics class, a finance class, or other related general education classes and pass with a certain grade before you can apply. The school may also require that you have a minimum GPA for admittance.

What types of degrees are related to the business management degree?

If you’ve read through all the information above and determined that a degree in business management isn’t right for you, perhaps you’d be better suited to a similar program. If you want to work in business but you don’t want to manage, you could also look into a degree in economics, finance, accounting, marketing, communications, or computer science. These programs would allow you to pursue a career in business while narrowing the focus down to a subfield you’re passionate about.

What to Look for in an Online Degree Program

More schools than ever are offering online college, so how do you know for certain that you’re selecting a good one when you can’t tour the campus or speak to advisors in person? Before doing anything else, make sure the institution is accredited. The school website should name their accreditation agency, and you can confirm this accreditation on the agency’s website as well as the US Department of Education site. You can also read up on the school online to learn about the reputation of its online programs.

Second, because you’ll be studying remotely, you need to make sure the school has excellent student services accessible to online learners so you can access tutors and more. This is especially important if you’re going into your first-ever semester. The school’s website should tell you what services are available to online students. If it doesn’t, give the registration office a call to inquire.

Third, in the same way you can find company reviews on Glassdoor, you can also seek out reviews from present and former students online through third-party platforms. The reviews will tell you a lot about the quality of the online staff and academia, virtual student services, post-graduation job placement, and more. Take these reviews with a grain of salt — not everyone has a great experience in college, and it’s not always the fault of the university.