Entrepreneurs create and manage new business ventures. To do so they must understand virtually all elements of their business operation—unlike business administrators, entrepreneurs usually do not have a wealth of resources or employees to rely on. Along the way to success, entrepreneurs often transition into senior leadership roles which means they most also be able to inspire the employees they hire to reach their goals.
To develop the interpersonal, communication, and analytical skills they need to succeed, many entrepreneurs obtain an MBA in entrepreneurship. MBA programs provide students with core knowledge in statistics, ethics, finance, law, and other areas they will need to lead their business. The result? Graduates are often highly competent business professionals due to their versatile understanding of the field and how to succeed with limited resources.
An MBA in entrepreneurship is a strong match for those who hope to be their own bosses or create their own businesses. At the same time, degree holders can feel confident they are receiving the education and training they need to compete with others who have resource advantages. With such training, entrepreneurs can become industry disruptors or pave the way to new business ideas.
What Can I Expect from an Online MBA in Entrepreneurship?
Completing an online MBA in entrepreneurship program will bring you the same opportunities for professional success as any on-campus program. Online options offer students attendance flexibility, allowing them to fulfill any work or personal obligations, without sacrificing the quality of the education they receive. To get the most out of your online degree, make sure to consider all your options so you can choose a program that most closely aligns with your personal and professional needs.
Choosing an online master’s degree in business analytics and intelligence enables a high level of flexibility in graduate studies. Students can not only pick their major and concentrations from many different options but also select the curriculum delivery type that best meshes with their current personal and professional life. Students who want maximum control over earning their advanced degree can enroll in asynchronous programs that enable self-pacing to move through the curriculum. Students in search of a more structured grad school experience can choose a school that offers lock-step curriculum requirements while still retaining the flexibility to complete work each week as best suits their schedule. A third option, a hybrid degree in business analytics and intelligence, offers most courses online plus one or more opportunities to complete courses on campus through summer sessions or shorter intensives. In addition, students also benefit from flexibility over where they live, eliminating the need to move to another area to obtain a degree from a brick-and-mortar institution.
Concentrations Offered for an Online MBA in Entrepreneurship
|CONCENTRATION||DESCRIPTION||POTENTIAL CAREERS FOR THIS CONCENTRATION|
|Small Business/Nonprofit Management||Students to explore the unique needs associated with managing a nonprofit organization or small business.||Business intelligence consultant, data analytics specialist|
|Marketing||Covers the development of advertisement campaigns, social media management and consumer psychological triggers.||CEO or president of marketing firm, marketing consultant at a corporation or business|
|Project Management||Equips students with skills in organization and delegation, preparing them for the management of large-scale projects.||Project manager for a business or corporation|
|Leadership||Emphasizes critical leadership skills, such as effective communication and team delegation.||CEO, president or manager at a business or corporation|
|Recruiting and Staffing||Explore the process for identifying and hiring an effective team, touching on the tactics used to attract talent and the elements needed for an employment interview.||Recruiter or hiring manager at a business or corporation|
Curriculum for an Online MBA in Entrepreneurship
Every school that offers an MBA in entrepreneurship will offer a unique curriculum experience, so it’s important to consider your options. Try to find a program that includes courses that align with your professional goals. It’s also a good idea to verify whether the programs you consider offer the entire curriculum online or require some courses to be take on-campus. This could present a problem if you choose a school outside of your local area.
Although coursework often differs between schools, there are some courses you’re likely to encounter no matter which program you choose, including:
|Family Business Management||Students learn the special dynamic found in family businesses and the tools needed to navigate professional relationships with family members.|
|Entrepreneurial Research||Examine the skills needed to gather and prepare necessary information for entrepreneurial ventures.|
|Law and Entrepreneurship||Explores the laws that govern and affect entrepreneurial activities.|
How Long Does It Take to Get an Online MBA in Entrepreneurship?
In many online programs for an MBA degree in entrepreneurship, completion times average between 18 and 24 months. This time can be cut down as low as one year for students who take advantage of the accelerated programs offered at some schools. This requires a heavier course load that may be unsuitable for those with significant work or personal commitments. There are also options to work through the program on a part-time basis, lowering the course load to just one or two courses each semester. This can significantly increase the time until graduation, depending on the number of courses taken.
It’s also important to factor in the effect a program’s structure can have on completion time. Choosing a cohort structure limits students to one or two start dates each year and requires that student groups move through classes together. Choosing this structure can provide additional networking and support from other students and instructors. Individually paced programs offer additional flexibility, allowing students to move through the curriculum at their own pace. This structure often provides several start dates each year and offers classes in multiple short bursts to allow quicker completion options.
Certifications and Licenses an Online MBA in Entrepreneurship Prepares For
|Entrepreneurship and Small Business Certification||Completing an online MBA in entrepreneurship may prepare you to pass the ESB certification exam. This exam ensures you have the skills to be a successful entrepreneur and is offered through Certiport. Country-specific exams are offered, including for the United States, as well as a universal option.|
|State Business License||Depending on the industry an entrepreneur chooses to pursue, some states may require a business license to operate a company. The requirements for these licenses will vary between locations.|
Accreditation for Online MBA in Entrepreneurship
When considering online programs for your MBA in entrepreneurship, take the time to determine whether they hold accreditation from an established agency. Accreditation means they have met the particular standards of that agency. Some certifications and employers will not recognize a degree from an unaccredited institution, and it can be difficult to transfer credits between schools.
When checking on accreditation, there are three types of agencies you may see. The national agencies, like the Department of Education or the Council for Higher Education Accreditation, offer accreditation to schools that meet general standards. Regional agencies are confined to their designated area and include the Western Association of Schools and Colleges and the Southern Association of Schools and Colleges. It’s often easier to transfer credits between schools that are both accredited by the same regional agency. Agencies like the Accreditation Council for Business Schools and Programs are considered industry-specific and set standards for the education needed to be successful in your field.
Employment Outlook for MBA in Entrepreneurship Graduates
Job Placement: Master’s v. Bachelor’s
According to the Bureau of Labor Statistics, jobs for top executives are expected to increase by 8 percent by 2026, which is just slightly above the average of 7 percent for overall job growth. Although a bachelor’s degree is enough to establish a career as an entrepreneur, most executive positions for large companies are held by those with an MBA. This makes it likely that most of the higher-paying positions with profitable companies will require a graduate degree from applicants.
Holding an MBA in entrepreneurship opens several career doors, allowing professionals some flexibility in the jobs they choose. Despite the applications being so varied, salary ranges for most positions can be incredibly lucrative. The chart below shows the salary ranges of several possible positions for those with an MBA degree in entrepreneurship.
|Job Title||Salary Range|
|Senior Product Manager||$85,542-$154,001|
|Business Development Director||$55,978-$164,860|
|Chief Executive Officer||$73,795-$309,279|
|Director of Operations||$49,355-$148,121|
To pursue an MBA in entrepreneurship, most programs require students to have completed a certain number of years within their field. This experience has a direct effect on your salary potential. The chart below demonstrates how the average pay for professional positions, held by MBA in entrepreneurship graduates, rises with years of experience.
Average Salary vs Experience Level for MBA in Entrepreneurship Graduates
|JOB TITLE||JOB DESCRIPTION||MEDIAN SALARY||PROJECTED GROWTH RATE|
|Top Executives||Top Executives can include positions like chief executive officers, chief financial officers and other executive-level titles. Duties vary, depending on the actual position, but top executives are responsible for setting goals for organizations and ensuring they are met while managing the overall operation of the company.||$104,700 per year||8%|
|Administrative Services Manager||An Administrative Services Manager is responsible for managing an organization’s supportive services. This includes the planning, direction and coordination of these services, along with the general management of the company’s business office.||$94,020 per year||10%|
|Human Resources Manager||Human Resources Managers are responsible for overseeing the hiring of staff and acting as a liaison between upper management and employees. These managers monitor employee benefit programs and handle human resource issues such as sexual harassment and equal employment opportunities.||$110,120 per year||9%|
|Sales Manager||The Sales Manager oversees a company’s sales team, setting sales goals, developing training programs and analyzing data to improve sales efforts. Their duties often include the development of pricing plans and discount rates, setting quotas and determining sales territories.||$121,060 per year||7%|
Graduates of online MBA in entrepreneurship programs can benefit greatly from the many professional organizations that have been created to support them. These organizations can offer benefits like networking opportunities, educational programs, access to industry publications and professional tools to aid in career development. Here are a few professional organizations available to those with an MBA degree in entrepreneurship.
National Management Association: Members of the NMA can enjoy a number of professional benefits, such as access to the latest industry news and trends, networking and support opportunities from other professionals, career development and education tools and members-only discounts on a variety of goods and services.
Entrepreneurs’ Organization: Participation in the EO network requires an application and brings multiple networking opportunities through global, chapter and regional hosted events. Access to top-rated hospitals, educational opportunities and an established mentorship program are also benefits provided to members.
Collegiate Entrepreneurs’ Organization: This organization was created for student entrepreneurs. Membership provides students with access to the group’s career center, several educational opportunities, live webinars and access to its video library.
Financing Your Online MBA in Entrepreneurship
Even with the tuition discount that usually comes with online programs, it’s not uncommon to still need some financial assistance to cover the cost of completing your MBA in entrepreneurship degree. If you find yourself without the money you need to further your education, take the time to fill out the Free Application for Federal Student Aid (FAFSA) to find out if you qualify for any of the available grants or loans funded by the federal government. Other financial aid options include private loans or applying for one of the many scholarships available for MBA students. The resources below can get you started in your search for financial assistance.
HubShout Internet Marketing Scholarship
Deadline: March 1 and November 1
Eligibility: Open to students who have completed at least one year of college, have a 3.0 GPA minimum and show passion for a career in internet marketing.
Lance Surety Bonds Scholarship
Deadline: December 15
Eligibility: Open to students who are enrolled in a degree program in a U.S. college or university. Applicants must complete an essay on one of the topics provided.
Staver Law Group National Scholarship
Deadline: December 1
Eligibility: Open to graduate and undergraduate students enrolled in a degree program at an accredited U.S. college or university. Applicants must have at least a 3.0 GPA to be eligible.