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Graduate business degrees can come with a hefty price tag. But some online programs are fast and cheap. They are also AACSB-accredited and adhere to rigorous academic standards in business education.
In this article, we profile 10 of the cheapest online Master’s in Business Management degree programs that deliver the best value for the money. According to the Education Data Initiative, the annual average cost of a master’s degree is $65,134. The costs can vary from $59,060 in public institutions to $87,950 in private institutions. So, if you’re looking for a cheap option for your master’s in business management degree, consider these 10 schools and programs.
Featured Programs
Our editors first ranked the cheapest online master’s in business management programs in August 2023. This ranking was updated March 2024.
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Methodology for Cheap Online Master’s in Business Management
We indexed accredited colleges and universities that offer the cheapest online master’s degree programs in Business Management, as well as related closely programs. We reviewed each of the school’s official websites for accurate and timely information.
Listed in random order, we highlight how each program lets students get ahead in the real-world business arena through courses and program duration. We selected the following schools based on the these attributes:
- Offers affordable options for a master’s degree program in Business Management (or related program)
- Prepares graduates for upper management positions in Human Resources, Sales and Marketing, and Financial Management, and more
- Provides a 100% online or hybrid learning format
- Delivers a comprehensive Master’s of Business Management program that allows students to acquire knowledge in all aspects of business, including ethical practices, critical-thinking skills, and executing business strategies, as well as research to stay competitive
- Instructed by supportive faculty experienced in the field of Business Management
- Offers financial aid options; grants, scholarships and military discounts
- Addresses the most up-to-date and innovative technology practices used in Business Management
- Ideal for working professionals interested in career advancement and a salary increase
- Some programs may provide degree specializations according to your interests and career goals
To learn more, please see our Methodology page.
Cheapest Online Master’s Business Management
| Rank | School Name | Location | Tuition |
| #1 | Montreat College | Montreat, NC | $10,710 |
| #2 | University of West Florida | Pensacola, FL | $7,088 |
| #3 | Missouri State University | Springfield, MO | $6,264 |
| #4 | City University of New York | New York, NY | $9,930 |
| #5 | Western Governors University | Salt Lake City, UT | $8,302 |
| #6 | University of North Texas | Dallas, TX | $5,604 |
| #7 | Minot State University | Minot, ND | $9,352 |
| #8 | Texas A&M University | Commerce, TX | $3,630 |
| #9 | University of Houston | Houston, TX | $8,723 |
| #10 | Bellevue University | Bellevue, NE | $11,682 |
1. Montreat College
Earn an online Master’s in Business Administration at Montreat College, an academic institution headquartered in Montreat, North Carolina. The program, which is part of the institution’s School of Adult and Graduate Studies, is taught fully online. Students learn different business and managerial skills.
In this program, students take courses that develop critical thinking skills and strategic planning. You graduate ready to embark on a lucrative business career. But with financial aid and affordable tuition, you won’t have to go into debt.
Pros
- 13:1 student-to-faculty ratio
- Career-focused courses
- Diverse selection of business management courses
- Flat-rate tuition for in-state and non-residents
- No GMAT or GRE for admission
Cons
- Minimum 2.75 GPA over last 60 credit hours of undergraduate work
2. University of West Florida
The University of West Florida offers an online Master of Business Administration with a concentration in Supply Chain Logistics Management. This business management degree requires 36 credits and takes 16 months, depending on the student’s pace. Courses include:
- Policy Formulation
- Strategic Management
- Policy Formulation
- Business Process Integration
The College of Business at the University of West Florida is accredited by AACSB International (AACSB).
Pros
- 15-month completion time
- Discount price for military and families
- Emphasis courses and studies
- No GMAT required for admission
Cons
- 22:1 student-to-faculty ratio (larger than some other schools)
- Out-of-state tuition for non-residents
3. Missouri State University
Missouri State University is an affordable and flexible choice school that offers a Master’s in Management degree with a concentration in Project Management.
Subject areas include:
- Information Systems in Business Organizations
- Fundamentals of Economics
- Management of Innovation and Technology
- Cost Analysis for Project Management
- Product Design and Development
Online adult learners get the same quality instruction as their on-campus peers.
Pros
- 100% online coursework
- Affordable tuition and financial aid opportunities
- Accredited by PMI (Project Management Institute) Global Accreditation Center for Project Management Education
- Diverse selection of electives and core courses
Cons
- Out-of-state tuition for non-residents
4. City University of New York
In-state students at the City University of New York, the third biggest university system in the country, pay low in-state tuition for the Master of Science in Business Management and Leadership online. The program offers courses in areas like:
- Global Strategic Management
- Business Accounting
- Conflict Resolution
The online MS in Business Management program at CUNY prepares students for careers in risk management, data analysis, or strategic direction. As such, they gain essential skills relevant to their future management careers such as analyzing numerical and non-numerical data, executing business strategies, and leveraging managerial skills.
Pros
- Application fee waived for those applying by the priority deadline
- Focus on diversity, sustainability, and consumer trust
- Large selection of management courses
- Low cost in-state tuition
Cons
- Higher GPA admission requirements (3.0)
- Up to 4 prerequisite courses required
5. Western Governors University
Based in Salt Lake City, Western Governors University is a non-profit university that offers a Master of Science in Management and Leadership online program. In this accelerated program, 75% of students finish in just 19 to 46 months using high-quality learning materials. Key courses include:
- Ethical Leadership
- Strategic Management
- Human Capital Management
A top university in the West, WGU is accredited by the Accreditation Council for Business Schools and Programs (ACBSP).
Pros
- Average salary increase of $10,500
- Concentration areas for deep focus
- Only 10 courses
- Tech support available all hours
- Tuition charged per term rather than per credit
Cons
- Capstone project required
6. University of North Texas
The University of North Texas offers an online Master of Business Administration with a Strategic Management concentration. Students get trained in the areas of organization management, development strategies, and similar fields on an international scale.
Sample courses include:
- Financial Management
- Administrative Strategy
- Organizational Behavior & Analysis
UNT’s affordable online master’s in business management takes only 14 months to complete.
Pros
- Access to area employers and internships
- Career-focused courses
- In-state tuition rates for Texas residents
- Research opportunities with seasoned faculty
- Strategic management concentration
Cons
- 3.0 GPA to waive GRE or GMAT scores
7. Minot State University
Located in North Dakota, Minot State University offers a Master of Science in Management online degree. Students complete courses in:
- International Business
- International Management
- Strategic Marketing
- Management Information Systems
The Don L. Barber Memorial Scholarship and Luther Hanson & Diann Witham Hanson Scholarship are available for those interested in obtaining financial aid for their online Master’s in Management at MSU.
Pros
- Devoted financial aid assistance
- Finish the program in 9 or 18 months
- Flexible evening courses one or two nights per week
- Online options (on-campus available)
- Research assistantships available
Cons
- Competitive admission
- Smaller student population
8. Texas A&M University Commerce
Texas A&M University Commerce offers a comprehensive online Master of Science in Management degree. The degree requires 30 to 42 credit hours of coursework.
In this program, students focus on interactive and digital marketing, consumer and buyer behavior analytics, product innovation, and supply chains. Applicants can choose to complete a long-range schedule, pick a degree plan, or choose a course catalog to graduate with a master’s in marketing.
The AACSB-accredited university offers scholarships such as the Donny David Doster Memorial Endowment and the Evelyn & David Lancaster Scholarship Fund to help pay for the degree.
Pros
- AACSB–accredited graduate program
- Diverse faculty with cutting-edge research in their field
- Flexible online courses
- GMAT/GRE waived for qualifying applicants
Cons
- Prerequisite courses may be needed
- Out-of-state tuition for non-residents
9. University of Houston
The University of Houston, a SACS-accredited and AACSB-accredited university, offers an online Master’s in Business Administration with an emphasis on Human Resource Management. This specialized business management degree offers courses in:
- Basic Business Management
- Human Resource Processes
- Problem-solving
Hailed for its top-quality degrees in entrepreneurship and business, the University of Houston has a large student population and extensive alumni network.
Pros
- Business and management courses
- Career-focused classes and electives
- Fast-paced courses
- GMAT waiver available
- Large alumni network and reach
Cons
- Large student population (21:1 student-faculty ratio)
- Out-of-state tuition for non-residents
10. Bellevue University
A top-rated, non-profit university based in Nebraska, Bellevue University offers a Master of Project Management online program. Students gain management skills needed to meet leadership challenges through their hands-on mentorship and courses.
Course samples include:
- Small Business Operation
- Portfolio Development
- Internet Marketing
Bellevue University is a member of the National Scholarship Providers Association (NSPA) and a military-friendly institution.
Pros
- 100% online program
- Affordable military tuition
- Extensive financial aid opportunities
- PMP®-certified faculty
- Student coaching and career resources
Cons
- Not as well-known as some other business schools
Other Cheap Online Master’s in Business Management Programs
Not every online business management program made our top 10 list, but that doesn’t mean these accredited colleges and universities should be ignored. Here are more schools and programs to consider for your cheap online MBM degree.
- Amberton University
- Colorado State University Global
- Mount Vernon Nazarene University
- Touro University Worldwide
Frequently Asked Questions
Employment for management jobs should grow faster than the average 3% for all other occupations, according to the Bureau of Labor Statistics. About 1.1 million job openings are projected each year, on average. As a result, now is a good time to pursue an online business management degree.
Yes. In fact, most accredited colleges and universities offer financial aid. For starters, to qualify for college, state, or federal graduate school financial aid, you must submit the FAFSA (Free Application for Federal Student Aid) form to attain scholarships and grants. State and federal grants are available to qualifying students.
Here are a few careers you can qualify for with an online master’s in business management degree:
• Business Analyst
• Business Manager
• Corporate Strategist
• Director of Human Resources
• Director of Operations
• Financial Manager
• Supply Chain Manager
It depends on the job title, but you can definitely make six figures with some experience and a business management degree. According to the Bureau of Labor Statistics, compensation and benefits managers make $131,280/year, on average, and financial managers make $139,790/year.
Online business management programs can offer convenience and flexibility. You can get your schooling done while working full-time or balancing children and life. Flexible online courses move at your own pace and can be tailored to fit your scheduling needs.
What branch of Business Management would you like to pursue? Check this out: