The Princeton Review (www.princetonreview.com) today released its second annual ranking of b-schools offering the best online MBA programs, in partnership this year withEntrepreneur magazine (www.entrepreneur.com). The Online MBA rankings are the first based on both surveys of administrators at the schools and of students attending the online MBA programs. The lists are available atwww.princetonreview.com/online-mba and at www.entrepreneur.com/top-online-mba. The full rankings are published in the October issue of Entrepreneur, available on newsstands September 27.
The company chose the schools based on its surveys in 2015-16 of more than 90 business schools offering online MBAs (at which a majority of their program was online), plus surveys of over 3,800 students enrolled in the programs.
The University of North Carolina at Chapel Hill's Kenan-Flagler Business School captured the #1 spot on the top 25 list and Indiana University-Bloomington's Kelley School of Business finished second, both for the second year in a row. Temple University in Philadelphia, PA came in third. The list of top 25 schools follows and is posted at www.princetonreview.com/online-mba as well as at entrepreneur.com/top-online-mba along with in-depth profiles of the schools and advice for applicants.
The Princeton Review developed its survey methodology and criteria for this ranking based on input from editors of its annual Best 294 Business Schools guidebook (which includes top-20 b-school rankings in 11 categories), and an advisory board of administrators at several of the nation's leading online MBA programs. The criteria focused on five core areas: academics, selectivity, faculty, technical platforms, and career outcomes. Data points were weighted in more than 60 unique fields to determine the final ranking. A description of the methodology is at www.princetonreview.com/online-mba/top-25-methodology.
"Each of our top 25 schools offers a first-rate online MBA program," said Robert Franek, Senior VP-Publisher, The Princeton Review. "Like highly-successful businesses, these highly-respected b-schools are serving their customers with innovative options. For working professionals unable to move to a 'brick and mortar' campus for an MBA, these schools offer an opportunity to learn from some of the world's best b-school professors and earn the degree from anywhere in the world."
"The programs in the Top 25 Online MBA list present promising opportunities for entrepreneurs who wish to pursue or continue their education while growing their business at the same time," says Jason Feifer, executive editor of Entrepreneur magazine. "We're thrilled to partner with The Princeton Review and to share this list with entrepreneurs seeking to invest in their future."
Among noteworthy findings of The Princeton Review's survey of the more than 3,800 online MBA students at the 90+ b-schools:
- 52% of the students identified themselves as "career changers" (an increase from 47% last year)
- Asked why they chose their specific schools, the answer choices most selected were: reputation (85%), convenience (76%), price (45%), and field of study (37%)
- 90% rated the technology platform of their coursework as "excellent" or "above average"
- 94% reported they were "very" or "extremely" satisfied with their school choice
How do Online MBA students and On-Campus MBA students differ?
- Online students are older; the average age is 35 while the average age of on-campus MBA students is 28
- Work experience: online MBA students average 11 years of work experience; on campus MBA students average 5 years
Among students surveyed at the top 25 Online MBA programs:
- 56% were receiving financial assistance from their employers to pay for their degree: they reported their companies were covering 58% of the degree cost
- 39% reported receiving a promotion while earning their online MBA
- $105,000 was the students' average base salary upon graduating from the program
- 23% was the average salary increase graduates reported they received after completing the degree
The Princeton Review's Top 25 Online MBA Programs 2016 are:
1. The University of North Carolina at Chapel Hill
2. Indiana University-Bloomington
3. Temple University (PA)
4. IE University (Madrid)
5. University of Florida (Gainesville)
6. Arizona State University
7. Rochester Institute of Technology (NY)
8. Babson College (MA)
9. North Carolina State University
10. James Madison University (Harrisonburg, VA)
11. University of Texas at Dallas
12. University of South Dakota
13. University of Utah
14. Auburn University (AL)
15. Hofstra University (Hempstead, NY)
16. University of Nebraska-Lincoln
17. Northeastern University (MA)
18. Pepperdine University (CA)
19. University of Arizona
20. Syracuse University (NY)
21. University of North Texas (Denton)
22. Jack Welch Management Institute (Strayer University) (VA)
23. University of Massachusetts Amherst
24. Ball State University (IN)
25. University of Memphis (TN)
The number of accredited b-schools offering fully online MBAs has grown significantly in recent years. The leading b-school accrediting organization, the AACSB (Association to Advance Collegiate Schools of Business,www.aacsb.edu), reported a 37% increase in the number of its member schools offering online MBAs from 68 schools offering them in 2008 to 93 schools in 2012.
The Princeton Review has published an annual Best Business Schools guide for 20 years: it has included business school ranking lists in the guide since 2005. (www.princetonreview.com/press/law-business-school-rankings). The company is also known for its annual rankings of graduate and undergraduate schools, also in partnership with Entrepreneur, offering the best programs for entrepreneurship studies (www.princetonreview.com/press/top-entrepreneurial-press-release) and for game design studies (http://www.princetonreview.com/college-rankings/game-design). The company's annual rankings of colleges in dozens of categories appear on its site (www.princetonreview.com/college-rankings/best-colleges) and in its books The Best 381 Colleges and Colleges That Pay You Back.
About The Princeton Review
The Princeton Review is a leading test preparation, tutoring, and college admission services company. Every year, it helps millions of college- and graduate school-bound students achieve their education and career goals through online and in person courses delivered by a network of more than 4,000 teachers and tutors and its more than 150 print and digital books published by Penguin Random House. The Princeton Review is headquartered in New York, NY, and is an operating business of Match Group (NASDAQ: MTCH). For more information, visit www.princetonreview.com and www.facebook.com/ThePrincetonReview. Follow the company's Twitter feed @ThePrincetonRev
About Entrepreneur Media, Inc.
For nearly 40 years, Entrepreneur Media Inc. has been serving the entrepreneurial community providing comprehensive coverage of business and personal success through dynamic content and events. Entrepreneurmagazine, Entrepreneur.com, and publishing imprint Entrepreneur Press provide solutions, information, inspiration and education read by millions of entrepreneurs and small business owners worldwide
