$45,737
Average Tuition – Insurance MBA Programs
$78,057
Average Salary – Insurance MBA Graduates
564
Average GMAT Requirements – Insurance MBA Programs
146%
Average ROI – Insurance MBA Programs
Executive Summary for Insurance MBA Programs
- Comprehensive comparisons and data about tuition, average starting salaries, ROI, GMAT requirements and scores, and enrollment statistics for MBA programs in Insurance
- Detailed profiles of both online and on-campus MBA programs in Insurance, their strengths, unique specializations, faculty expertise, and alumni networks are included to help align your study choice with your career ambitions
- Insights into diverse industries and roles, demonstrating how an MBA degree in Insurance serves as a potent tool in these industries
Top 10 MBA Program in Insurance – ROI, Salary, Tuition
#1
Stanford University
- Knight Management Center, Stanford, CA - 94305-7298
- Institution Control: Private
- Academic Year:
- Accreditation:
- Award Levels: Doctoral, Masters in Business, Masters Specialist
- Offered as: Campus, Full-Time
Business School Details
Student / Faculty Ratio: 5:1
Tuition and Fees: $165,591
Total Enrollment: 1,064
Concentrations: Accounting, Consulting, Data Analytics, Economics +16 more
Ranking: US News, Forbes, BW, FT, Economist and MBAGuide
Average GMAT Score: 737
Graduate Salary: $182,272
AACSB Accredited: Business
Graduate ROI: 55%
#2
University of Pennsylvania
- 1000 Steinberg Hall-Dietrich Hall, Philadelphia, PA - 19104-6364
- Institution Control: Private for-profit
- Academic Year:
- Accreditation:
- Award Levels: Doctoral, Dual-MBA, Masters in Business, Undergraduate
- Offered as: Campus, Full-Time
Business School Details
Student / Faculty Ratio: 8:1
Tuition and Fees: $179,852
Total Enrollment: 3,468
Concentrations: Accounting, Arts, Data Analytics, Entrepreneurship +8 more
Ranking: US News, Forbes, BW, FT, Economist and MBAGuide
Average GMAT Score: 733
Graduate Salary: $166,391
AACSB Accredited: Business
Graduate ROI: 46%
#3
Rice University
Jesse H. Jones Graduate School of Business
- MS-531, Houston, TX - 77005
- Institution Control: Private
- Academic Year:
- Accreditation:
- Award Levels: Doctoral, E-MBA, Masters in Business, Masters Specialist, Undergraduate
- Offered as: Campus, Evenings, Full-Time, Online, Weekends
Business School Details
Student / Faculty Ratio: 9:1
Tuition and Fees: $139,081
Total Enrollment: 1,392
Concentrations: Accounting, Arts, Entrepreneurship, Ethics +11 more
Ranking: US News, Forbes, BW, FT, Economist and MBAGuide
Average GMAT Score: 710
Graduate Salary: $142,212
AACSB Accredited: Business
Graduate ROI: 51%
#4
The University of Texas at Dallas
Naveen Jindal School of Management
- AD 34, Richardson, TX - 75080-3021
- Institution Control: Public
- Academic Year:
- Accreditation:
- Award Levels: Doctoral, E-MBA, Graduate Level Certificate, Masters in Business, Masters Specialist, Undergraduate
- Offered as: Campus, Distance Education, Evenings, Full-Time, Online, Part-Time, Weekends
Business School Details
Student / Faculty Ratio: 23:1
Tuition and Fees: $35,918
Total Enrollment: 11,049
Concentrations: Accounting, Business Analytics, Data Analytics, Economics +15 more
Ranking: US News, Forbes, BW, FT and MBAGuide
Average GMAT Score: 689
Graduate Salary: $123,163
AACSB Accredited: Business and Accounting
Graduate ROI: 171%
#5
The George Washington University
- Duquès Hall, Suite 660, Washington, DC - 20052
- Institution Control: Private
- Academic Year:
- Accreditation:
- Award Levels: Doctoral, Graduate Level Certificate, Masters in Business, Masters Specialist, Non-MBA, Undergraduate
- Offered as: Campus, Distance Education, Evenings, Full-Time, Off Campus, Online, Part-Time, Partnership, Weekends
Business School Details
Student / Faculty Ratio: 11:1
Tuition and Fees: $113,090
Total Enrollment: 2,984
Concentrations: Accounting, Communications, Data Analytics, Economics +13 more
Ranking: US News, Forbes, BW, FT, Economist and MBAGuide
Average GMAT Score: 669
Graduate Salary: $115,951
AACSB Accredited: Business and Accounting
Graduate ROI: 51%
#6
Boston University
- 595 Commonwealth Avenue, Boston, MA - 02215
- Institution Control: Private
- Academic Year:
- Accreditation:
- Award Levels: Doctoral, Dual-MBA, E-MBA, Masters in Business, Masters Specialist, Undergraduate
- Offered as: 1-Year, Campus, Evenings, Full-Time, Online, Part-Time, Partnership, Weekends
Business School Details
Student / Faculty Ratio: 20:1
Tuition and Fees: $124,248
Total Enrollment: 7,135
Concentrations: Accounting, Consulting, Data Analytics, Economics +18 more
Ranking: US News, Forbes, BW, FT, Economist and MBAGuide
Average GMAT Score: 683
Graduate Salary: $120,884
AACSB Accredited: Business
Graduate ROI: 49%
#7
Indiana State University
- 30 North 7th Street, Terre Haute, IN - 47809-5402
- Institution Control: Public
- Academic Year:
- Accreditation:
- Award Levels: Masters in Business, Undergraduate
- Offered as: Campus, Evenings, Full-Time, Online, Part-Time, Weekends
Business School Details
Student / Faculty Ratio: 16:1
Tuition and Fees: $19,000
Total Enrollment: 965
Concentrations: Accounting, Data Analytics, Economics, Education +14 more
Ranking: MBAGuide
Average GMAT Score: 685
Graduate Salary: $100,000
AACSB Accredited: Business
Graduate ROI: 263%
#8
University of Maryland
Robert H. Smith School of Business
- 2570 Van Munching Hall, Office of the Dean, College Park, MD - 20742-1815
- Institution Control: Public
- Academic Year:
- Accreditation:
- Award Levels: Doctoral, Dual-MBA, E-MBA, Masters in Business, Masters Specialist, Undergraduate
- Offered as: Campus, Distance Education, Evenings, Full-Time, Off Campus, Online, Part-Time, Weekends
Business School Details
Student / Faculty Ratio: 16:1
Tuition and Fees: $98,865
Total Enrollment: 4,928
Concentrations: Accounting, Data Analytics, Education, Finance +7 more
Ranking: US News, Forbes, BW, FT, Economist and MBAGuide
Average GMAT Score: 656
Graduate Salary: $121,103
AACSB Accredited: Business
Graduate ROI: 61%
#9
American University
- 4400 Massachusetts Avenue, Northwest, Washington, DC - 20016-8044
- Institution Control: Private
- Academic Year:
- Accreditation:
- Award Levels: Dual-MBA, Graduate Level Certificate, Masters in Business, Masters Specialist, Undergraduate, Undergraduate Certificate
- Offered as: Campus, Distance Education, Full-Time, Online, Part-Time
Business School Details
Student / Faculty Ratio: 8:1
Tuition and Fees: $98,282
Total Enrollment: 1,631
Concentrations: Accounting, Data Analytics, Entrepreneurship, Ethics +10 more
Ranking: Forbes, BW and MBAGuide
Average GMAT Score: 668
Graduate Salary: $105,666
AACSB Accredited: Business
Graduate ROI: 54%
#10
Texas Christian University
- Dan D. Rogers Hall, Fort Worth, TX - 76109
- Institution Control: Private
- Academic Year:
- Accreditation:
- Award Levels: Dual-MBA, E-MBA, Graduate Level Certificate, Masters in Business, Masters Specialist, Undergraduate, Undergraduate Certificate
- Offered as: Campus, Evenings, Full-Time, Online, Part-Time, Weekends
Business School Details
Student / Faculty Ratio: 14:1
Tuition and Fees: $115,380
Total Enrollment: 3,331
Concentrations: Accounting, Data Analytics, Economics, Education +14 more
Ranking: US News, BW, Economist and MBAGuide
Average GMAT Score: 617
Graduate Salary: $107,543
AACSB Accredited: Business and Accounting
Graduate ROI: 47%
50 Best Insurance MBA Programs Table: ROI, Salary, Tuition
Easily sort the table below by Rank, School Name, ROI, Tuition, Average Starting Salary, and State to find and to compare programs. Click on any school for a comprehensive review.
Rank | University | ROI | In State Tuition | Avg. Starting Salary | State | Online |
---|---|---|---|---|---|---|
1 | Stanford University | 55.04% | $165,591 | $182,272 | CA | No |
2 | University of Pennsylvania | 46.26% | $179,852 | $166,391 | PA | No |
3 | Rice University | 51.13% | $139,081 | $142,212 | TX | Yes |
4 | The University of Texas at Dallas | 171.45% | $35,918 | $123,163 | TX | Yes |
5 | The George Washington University | 51.26% | $113,090 | $115,951 | DC | Yes |
6 | Boston University | 48.65% | $124,248 | $120,884 | MA | Yes |
7 | Indiana State University | 263.16% | $19,000 | $100,000 | IN | Yes |
8 | University of Maryland | 61.25% | $98,865 | $121,103 | MD | Yes |
9 | American University | 53.76% | $98,282 | $105,666 | DC | Yes |
10 | Texas Christian University | 46.60% | $115,380 | $107,543 | TX | Yes |
11 | Georgia State University | 128.14% | $36,522 | $93,600 | GA | Yes |
12 | University of Nevada, Las Vegas | 215.34% | $21,784 | $93,820 | NV | Yes |
13 | Illinois Institute of Technology | 60.83% | $67,690 | $82,352 | IL | Yes |
14 | Baylor University | 46.20% | $85,692 | $79,176 | TX | Yes |
15 | Wake Forest University | 48.64% | $79,975 | $77,800 | NC | Yes |
16 | Marquette University | 97.28% | $46,620 | $90,700 | WI | Yes |
17 | California State Polytechnic University Pomona | 150.07% | $29,800 | $89,440 | CA | No |
18 | Creighton University | 97.79% | $33,234 | $65,000 | NE | Yes |
19 | Butler University | 75.64% | $39,000 | $59,000 | IN | Yes |
20 | Hult International Business School | 60.55% | $85,000 | $102,928 | MA | Yes |
21 | Northern Arizona University | 309.43% | $11,004 | $68,100 | AZ | Yes |
22 | California State University, East Bay | 318.21% | $12,036 | $76,600 | CA | Yes |
23 | University of Wisconsin-Stevens Point | 103.37% | $28,224 | $58,350 | WI | Yes |
24 | Ball State University | 180.21% | $21,197 | $76,400 | IN | Yes |
25 | Illinois State University | 191.77% | $20,050 | $76,900 | IL | No |
26 | Radford University | 286.54% | $15,984 | $91,600 | VA | Yes |
27 | Rensselaer Polytechnic Institute | 45.51% | $92,510 | $84,200 | NY | No |
28 | Louisiana State University | 63.52% | $50,486 | $64,142 | LA | Yes |
29 | Florida State University | 151.25% | $18,693 | $56,545 | FL | Yes |
30 | The College of New Jersey | 89.14% | $50,482 | $90,000 | NJ | Yes |
31 | Appalachian State University | 181.20% | $17,463 | $63,285 | NC | Yes |
32 | Rochester Institute of Technology | 29.90% | $108,352 | $64,800 | NY | Yes |
33 | University of North Florida | 174.52% | $17,767 | $62,014 | FL | Yes |
34 | University of South Florida St. Petersburg | 213.24% | $17,000 | $72,500 | FL | Yes |
35 | University of South Florida | 186.27% | $14,955 | $55,714 | FL | Yes |
36 | Saint Xavier University | 123.59% | $38,961 | $96,302 | IL | Yes |
37 | Minnesota State University Moorhead | 162.09% | $26,220 | $85,000 | MN | Yes |
38 | Frostburg State University | 250.00% | $16,740 | $83,700 | MD | Yes |
39 | California State University, Fullerton | 91.47% | $44,550 | $81,500 | CA | Yes |
40 | University of New Haven | 81.22% | $39,770 | $64,600 | CT | Yes |
41 | Le Moyne College | 84.97% | $35,952 | $61,100 | NY | No |
42 | Winston-Salem State University | 104.17% | $22,248 | $46,350 | NC | Yes |
43 | Truman State University | 202.08% | $14,400 | $58,200 | MO | No |
44 | Prairie View A&M University | 127.64% | $23,699 | $60,500 | TX | Yes |
45 | Stockton University | 72.25% | $33,012 | $47,700 | NJ | Yes |
46 | Shenandoah University | 95.96% | $46,840 | $89,900 | VA | No |
47 | Western Washington University | 69.25% | $48,448 | $67,100 | WA | No |
48 | California State University, Bakersfield | 547.66% | $7,176 | $78,600 | CA | Yes |
49 | University of South Dakota | 159.66% | $14,892 | $47,553 | SD | Yes |
50 | Bowling Green State University | 98.99% | $27,200 | $53,853 | OH | Yes |
What is an MBA in Insurance & Risk Management?
The MBA in Risk Management and Insurance (RMI) teaches B-students how to fully analyze the risks and rewards of certain business decision, from startup to expansion. Whether it’s mergers and acquisitions, globalization, or simply adopting a lean operation strategy, every firm must weigh the potential risks and rewards associated with a new business venture. An MBA in RMI provides students with a full suite of skills that include a solid understanding of business principles combined with specialized study in corporate risk management and insurance.
This no-nonsense specialization offers ample opportunity for graduates to work with top firms including Enst & Young, PwC, Liberty Mutual Insurance, Metlife, New York Life, etc. With most AACSB-approved MBA programs offering a strong core curriculum in business, the Risk Management & Insurance concentration provides a more analytical approach to high-level business decisions. A B-Student armed with a graduate degree in RMI will have both the quantitative and qualitative proficiency to make sound recommendations to C-level executives at some of the most prominent Fortune 500 companies.
Throughout their course of study, RMI B-Students are exposed to faculty, staff, and industry leaders that hold positions in risk management, insurance operations, and consulting. MBA graduates specializing in risk management and insurance are placed at leading Fortune 500 firms across the country and are poised to make a six-figure salary only a few years into the profession. In other words, the sky’s the limit for AACSB-accredited MBA graduates in Risk Management and Insurance.
Difference Between an MBA in Insurance and a Master’s in Insurance
The MBA is a broader degree and generally addresses the for-profit, corporate or entrepreneurial arena comprising of multiple aspects of business. A Master of Insurance program focuses more specifically on the finances of the company. Your personal career goals should determine which type of program would most benefit you.
Obtaining an MBA degree is an important step to land above an entry level job in most companies. MBA coursework teaches a wide spectrum of topics with emphasis on how to manage within each segment of a company such as development, accounting, human resources, and operations. MBA programs prepare students for management positions in many industries.
The Masters of Insurance is targeted to students seeking to focus on finance related fields or obtaining higher level financial stewardship within a larger organization. Programs review finance concepts in a more comprehensive manner, with courses in higher level mathematics, quantitative finance, investing, financial markets, financial analysis, statement generation and reporting, and stock valuation. Master of Insurance programs tend to be shorter in duration, usually last one full-time year of study.
Key Highlights for Insurance MBA Programs
Compare Online Insurance MBA Program Averages to Campus Averages
When comparing online and campus-based Insurance MBA programs, prospective b-students should consider many factors. Online programs offer lower average tuition costs ($45,737 vs : $45,737.37) and better average graduate ROI (146% vs 146%), while campus programs have slightly higher average graduate salaries ($78,057 vs $78,057). Both program types have comparable GMAT scores, full-time faculty numbers, and student-faculty ratios, indicating similar academic rigor and support.
Averages | Online Insurance MBA Programs | Campus Insurance MBA Programs |
---|---|---|
Average MBA Tuition | $42,445 | : $45,737.37 |
Average Graduate Salary | $76,583 | $78,057 |
Average Graduate ROI | 153% | 146% |
Average GMAT Scores | 563 | 564 |
Average Full-Time MBA Faculty | 67 | 61 |
Average MBA Student Faculty Ratio | : 17:1 | 16:1 |
Read about our ranking methodology.
What is the Average Salary for MBA Insurance Graduates?
The average graduate salary range for MBA in Insurance graduates is quite wide. At the lower end, Elizabeth City State University MBA reports an average starting salary of just $35,850 for its MBA in Insurance graduates. On the other hand, Stanford University boasts the highest average starting salary at an impressive $182,272.
The average starting pay across all finance MBA programs hovering around $78,057.
This substantial difference in starting salaries is due to a number of factors including reputation and ranking of the business school, the strength of its alumni network, the cost of living in the state and region, and the industries and locations where graduates find employment. Prospective b-students can research career outcomes and salary data of their target MBA programs to get a clearer picture the earning potential post-graduation.
While a high average starting salary is undoubtedly attractive, the savvy b-student will consider other factors like tuition costs, financial aid, and the overall return on investment when choosing an MBA in Insurance program.
Average Salaries for Insurance MBA Graduates
- Average: $78,057 from 866 Insurance MBA Programs
- Lowest: $35,850 from Elizabeth City State University MBA
- Highest: $182,272 from Stanford University
10 Highest Average Salaries for Insurance MBA Graduates
- Stanford University - $182,272.00
- University of Pennsylvania - $166,391.00
- Rice University - $142,212.00
- The University of Texas at Dallas - $123,163.00
- University of Maryland - $121,103.00
- Boston University - $120,884.00
- The George Washington University - $115,951.00
- Texas Christian University - $107,543.00
- American University - $105,666.00
- Hult International Business School - $102,928.00
10 Lowest Average Salaries for Insurance MBA Graduates
- Elizabeth City State University MBA - $35,850.00
- Eastern Kentucky University - $42,450.00
- The University of North Carolina at Asheville - $45,750.00
- Winston-Salem State University - $46,350.00
- University of South Dakota - $47,553.00
- Stockton University - $47,700.00
- Texas A&M International University - $53,500.00
- Bowling Green State University - $53,853.00
- University of South Florida - $55,714.00
- University of North Georgia - $56,500.00
Average Insurance MBA Graduate Salary by State
- District of Columbia - $121,848
- New Hampshire - $113,255
- Massachusetts - $100,630
- Arizona - $97,127
- Wyoming - $93,010
- Illinois - $92,682
- Washington - $91,447
- California - $90,698
- Michigan - $89,920
- Pennsylvania - $89,328
- Utah - $89,172
- Nevada - $88,249
- Maine - $87,535
- Minnesota - $86,736
- Virginia - $86,642
- Tennessee - $84,991
- New Jersey - $84,703
- Texas - $83,926
- Colorado - $83,807
- Indiana - $83,648
- Iowa - $83,468
- Connecticut - $83,241
- New York - $81,215
- Maryland - $80,131
- Nebraska - $79,913
- Georgia - $79,652
- Alaska - $79,087
- Ohio - $77,307
- Wisconsin - $76,959
- Oregon - $76,503
- Rhode Island - $75,889
- Oklahoma - $75,600
- Hawaii - $74,209
- Florida - $73,349
- Idaho - $72,446
- North Carolina - $71,631
- Missouri - $71,608
- Montana - $69,487
- Alabama - $67,949
- South Carolina - $67,447
- New Mexico - $67,250
- West Virginia - $66,028
- Vermont - $66,000
- Kentucky - $65,025
- Kansas - $64,772
- Mississippi - $64,196
- Arkansas - $62,951
- Delaware - $62,333
- Louisiana - $55,392
- North Dakota - $50,600
- South Dakota - $50,102
What is the Average Tuition for Insurance MBA Programs?
Investing in your future with a finance MBA can be a very smart decision. On average, you can expect to pay $45,737.37 for a finance MBA program. However, tuition rates can vary significantly, with the most expensive programs costing up to $179,852.00 and the most affordable options starting at $7,176.00.
When comparing in-state and out-of-state tuition for MBA programs in Insurance, you’ll find that in-state students pay an average of $45,737, while out-of-state students face an average tuition of $54,054. With such a wide range of tuition costs, spanning from $7,176.00 to $179,852, it’s essential to carefully consider your options. Factors that impact tuition rates include your enrollment status, the program type, and whether you attend a private college or public institution. Choosing a highly respected program could provide better value for your money than opting for an out-of-state school.
The ROI of an online MBA program is often more favorable than traditional programs, as students can continue working while studying. According to a 2017 US News survey, the average salary for students three months after graduating from an online MBA program was $96,974, a 22% increase from the average entering salary. The highest average salary increases for online programs hover around 60%. With the right program choice and financial planning, an online finance MBA can be a worthwhile investment in your future, leading to increased earning potential and career advancement opportunities.
Average Tuition for Insurance MBA Programs
- Average: $45,737 from 84 Insurance MBA Programs
- Lowest Insurance MBA: $7,176 from The University of Rhode Island
- Highest Insurance: $179,852 from Cornell University
10 Most Affordable Insurance MBAs
- California State University, Bakersfield - $7,176.00
- Northern Arizona University - $11,004.00
- Stephen F. Austin State University - $11,630.00
- Elizabeth City State University MBA - $11,630.00
- California State University, East Bay - $12,036.00
- University of Nebraska at Kearney - $13,293.00
- Truman State University - $14,400.00
- University of South Dakota - $14,892.00
- University of South Florida - $14,955.00
- Radford University - $15,984.00
10 Most Expensive Insurance MBAs
- University of Pennsylvania - $179,852.00
- Stanford University - $165,591.00
- Rice University - $139,081.00
- Boston University - $124,248.00
- Texas Christian University - $115,380.00
- The George Washington University - $113,090.00
- Rochester Institute of Technology - $108,352.00
- University of Maryland - $98,865.00
- American University - $98,282.00
- Rensselaer Polytechnic Institute - $92,510.00
Average Tuition Costs by State for MBA Programs
- New Hampshire - $103,312
- District of Columbia - $83,309
- Massachusetts - $74,395
- Oregon - $61,583
- New York - $61,321
- California - $59,093
- Pennsylvania - $54,581
- Connecticut - $51,233
- New Jersey - $51,100
- Maryland - $50,582
- Illinois - $48,710
- Washington - $48,319
- Ohio - $47,833
- Virginia - $45,876
- Michigan - $45,734
- Minnesota - $44,597
- Tennessee - $44,060
- Arizona - $40,003
- Colorado - $38,995
- Texas - $37,995
- North Carolina - $37,844
- Florida - $37,711
- Utah - $36,682
- Wisconsin - $33,557
- Louisiana - $33,470
- Indiana - $32,023
- Missouri - $31,909
- Vermont - $31,878
- Georgia - $31,430
- Rhode Island - $29,922
- Delaware - $27,790
- Oklahoma - $27,566
- Wyoming - $26,460
- Iowa - $25,779
- Kentucky - $25,407
- South Carolina - $25,244
- Montana - $24,913
- West Virginia - $21,722
- Alaska - $21,467
- Nebraska - $21,340
- Hawaii - $21,288
- Mississippi - $21,282
- North Dakota - $21,022
- Alabama - $21,005
- Nevada - $20,392
- Maine - $19,935
- Kansas - $19,893
- New Mexico - $18,520
- Arkansas - $17,073
- Idaho - $15,079
- South Dakota - $14,503
What Typical Classes Will I Take in My MBA Insurance Program?
- Practical Enterprise Risk Management – This concentration class introduces B-students to the concepts of risk management. They will analyze the financial health of a firm and develop a sustainability plan of attack using quantitative reasoning. Students learn the basics of ERM while working on real-world case studies.
- Strategic Risk Management – This concentration course, usually taken after the core MBA courses are completed, introduces the process of managing the risks and rewards of major company decisions. Whether it’s adding value to a firm’s portfolio of assets or building a corporate social responsibility plan of attack, the insurance actuary makes sound decisions on risk and rewards of a company’s direction.
- Global Risk Management – The global enterprise community is ever-changing, rapidly growing, and filled with regulations. This MBA course takes risk management principles and addresses them in the global arena. Whether it’s analyzing the international insurance marketplace, assessing the risks associated with international expansion, or understanding government restrictions while conducting business overseas, the global risk management course explores risk management on an international level.
- Principles of Risk Management & Insurance – This concentration course explores the nature of risk, the principles around making sound business decisions, and the impact of risk exposure. This is one of the foundation courses in the Risk Management and Insurance concentration and introduces the decision-making process from a leadership perspective.
- Corporate Risk Management – This is the nuts and bolts of the risk management curriculum. This MBA concentration course provides a comprehensive overview of the corporate risk management process from the perspective of management. Whether it’s risk exposure, tools to measure exposure quantitatively, or how risk management adds value to a company’s overall longevity, this course analyzes the responsibilities of an actuary.
What is the Average ROI for Insurance MBA Programs?
The average ROI full-time for MBA programs in Insurance is 146% with a highest of 548% and the lowest of 30%.
Return on investment (ROI) is an essential factor when considering which MBA program(s) to apply to. To calculate ROI, consider both the tuition for the MBA program and the average salary a graduate earns. The average tuition cost for an MBA degree in Insurance is approximately $45,737.37, while the average starting salary for MBA graduates is around $78,057.39. To calculate ROI, you need to subtract the tuition from the salary and divide by the tuition cost. This will give you a rough estimate of how much value you will get out of the MBA Insurance.
The average ROI for all MBA programs in the United States is 146%. The average ROI for Insurance programs is 146%.
ROI for Insurance MBA Programs
- Average: 146% from 866 Insurance MBA Programs
- Lowest: 30% from Rochester Institute of Technology
- Highest: 548% from Tennessee State University
10 Insurance MBA Programs with the Best ROI
- California State University, Bakersfield - 547.66%
- Texas A&M University-Kingsville - 349.17%
- California State University, East Bay - 318.21%
- Northern Arizona University - 309.43%
- Radford University - 286.54%
- Stephen F. Austin State University - 283.53%
- Youngstown State University - 279.63%
- University of North Alabama - 276.10%
- University of Nebraska at Kearney - 275.14%
- Indiana State University - 263.16%
10 Insurance MBA Programs with the Lowest ROI
- Rochester Institute of Technology - 29.90%
- Rensselaer Polytechnic Institute - 45.51%
- Baylor University - 46.20%
- University of Pennsylvania - 46.26%
- Texas Christian University - 46.60%
- Wake Forest University - 48.64%
- Boston University - 48.65%
- Rice University - 51.13%
- The George Washington University - 51.26%
- American University - 53.76%
Average ROI by State for MBA Programs
- Idaho - 270%
- New Mexico - 235%
- Indiana - 224%
- Maine - 220%
- Nevada - 216%
- North Dakota - 208%
- Rhode Island - 208%
- Nebraska - 207%
- Kansas - 203%
- Georgia - 201%
- Arkansas - 201%
- Montana - 196%
- Hawaii - 189%
- Alaska - 187%
- Mississippi - 185%
- Kentucky - 179%
- Oklahoma - 178%
- Wyoming - 176%
- Utah - 174%
- Alabama - 174%
- South Dakota - 173%
- Texas - 171%
- Tennessee - 170%
- Arizona - 170%
- Iowa - 168%
- Missouri - 159%
- California - 152%
- South Carolina - 152%
- Wisconsin - 148%
- North Carolina - 147%
- Illinois - 142%
- Minnesota - 140%
- West Virginia - 137%
- Florida - 135%
- Maryland - 132%
- Ohio - 131%
- Washington - 131%
- Louisiana - 127%
- Virginia - 126%
- Connecticut - 125%
- Colorado - 125%
- Delaware - 125%
- Michigan - 122%
- Pennsylvania - 104%
- Vermont - 104%
- Massachusetts - 102%
- New York - 97%
- New Jersey - 88%
- New Hampshire - 65%
- Oregon - 64%
- District of Columbia - 62%
What is the Average GMAT Needed for Insurance MBA Programs?
The Graduate Management Admission Test (GMAT) is a standardized examination used by MBA schools to assess their applicant pool. The test is strategically designed to measure an applicant’s analytical, verbal, writing and mathematical skills. The GMAT is used as a predictor of success in MBA programs and tests one’s ability to successfully handle the advanced quantitative and qualitative study of business and management.
The average GMAT scores full-time MBA programs in Insurance is 564 with a highest of 737 and the lowest of 399
More than 233 AACSB accredited MBA programs do not require their applicants to take GMAT exam. Many well-known programs such as the University of Michigan and the University of California, Los Angeles no longer require the exam. If you are unsure where you would like to take your program, then you should take the GMAT sooner rather than later so you don’t lose time meeting the score requirement of a program.
The average GMAT score needed for a Insurance MBA program from an institution is between 399 from University of New Haven to 737 from Stanford University. The average GMAT scores for Insurance MBA programs is 564.
Average GMAT Score for Insurance MBA Programs
- Average: 564 from 866 Insurance MBA Programs
- Lowest: 399 from University of Wisconsin-River Falls
- Highest : 737 from Stanford University
10 Highest GMAT Scores for Insurance MBA Programs
- Stanford University - 737
- University of Pennsylvania - 733
- Rice University - 710
- The University of Texas at Dallas - 689
- Indiana State University - 685
- Boston University - 683
- The George Washington University - 669
- American University - 668
- Winston-Salem State University - 668
- Rensselaer Polytechnic Institute - 660
10 Lowest GMAT Scores for Insurance MBA Programs
- University of New Haven - 399
- Stephen F. Austin State University - 420
- Elizabeth City State University MBA - 425
- Radford University - 438
- Tennessee Technological University - 440
- University of North Alabama - 447
- Stockton University - 454
- Sam Houston State University - 456
- Le Moyne College - 460
- Texas A&M University-Kingsville - 470
Average GMAT Scores by State for MBA Programs
- New Hampshire - 643
- Vermont - 640
- District of Columbia - 639
- Massachusetts - 623
- Oregon - 608
- Indiana - 602
- Oklahoma - 597
- Maryland - 586
- Ohio - 582
- Mississippi - 581
- Idaho - 579
- New York - 579
- Minnesota - 577
- Pennsylvania - 571
- Illinois - 571
- New Mexico - 569
- Missouri - 566
- Montana - 565
- Iowa - 565
- Tennessee - 564
- Texas - 564
- Maine - 562
- Washington - 561
- Nevada - 557
- South Carolina - 556
- California - 555
- Connecticut - 555
- Virginia - 554
- Arkansas - 553
- Georgia - 551
- New Jersey - 551
- Michigan - 550
- Wisconsin - 550
- North Dakota - 550
- Arizona - 549
- Nebraska - 549
- Utah - 547
- Colorado - 544
- South Dakota - 544
- Kentucky - 541
- Kansas - 536
- Rhode Island - 536
- Delaware - 534
- North Carolina - 533
- Florida - 532
- Louisiana - 528
- Alaska - 524
- Hawaii - 520
- Alabama - 515
- West Virginia - 507
- Wyoming - 460
25 No GMAT / GRE Required Insurance MBA Programs
Student / Faculty Ratio for Insurance MBA Programs
Faculty to student ratio is an important factor in the quality of education you will receive. The lower the ratio, the more individualized attention you will receive. The more individualized attention you receive, the greater the odds you will understand the material better.
Student / Faculty Ratio for Insurance MBA programs offering a Insurance concentration varies between 4:1 and 31:1 with an average of 16:1 students.
The ratios provided are based off all MBA programs regardless of concentration. To discover what the ratio is for the program you are interested in, research the faculty pages of the school and average size of the programs. Faculty could be part or full time. Many also work in the concentration and can provide the students with real-world examples.
10 Insurance MBA Programs with the Lowest Student Faculty Ratio
- Worcester Polytechnic Institute - 4:1
- Stanford University - 5:1
- Tuskegee University - 7:1
- Illinois Institute of Technology - 7:1
- Shenandoah University - 8:1
- Rochester Institute of Technology - 8:1
- Frostburg State University - 8:1
- University of Pennsylvania - 8:1
- American University - 8:1
- Rice University - 9:1
10 Insurance MBA Programs with the Highest Student Faculty Ratio
- Florida State University - 31:1
- California State University, Sacramento - 30:1
- Universidad Ana G. Mendez - Gurabo - 28:1
- Youngstown State University - 26:1
- University of South Florida - 26:1
- Georgia State University - 26:1
- Minnesota State University Moorhead - 25:1
- California State University, Fullerton - 24:1
- Hult International Business School - 24:1
- The University of Texas at Dallas - 23:1
Which Insurance MBA Programs Have the Highest Student Enrollment?
When reviewing how the student population is spread across program formats, you will find the highest concentration of students are, then part time, then full time. The concentration is spread based on flexibility. The higher the flexibility (aka the least amount of scheduled class time), the higher the number of students.
The average Student Enrollment for full-time MBA programs in Insurance is 403 with a highest of 3,933 and the lowest of 4
There are pros and cons to small cohorts versus large cohorts. Small cohorts can become very cohesive and encourage each other to make it through the program. However, if the personality dynamic is off, it is hard to find new group members in a smaller pool of students.
The large cohorts cultivate a variety of approaches to solve the same problem, help others to think outside of the box and foster creativity. However, you could feel like just a number and desire more individual attention. When researching schools, try to reach out to current students and ask about the culture to help you decide which type of culture best suits you.
10 Insurance MBA Programs with the Highest Student Enrollment
- The University of Texas at Dallas - 3,933
- Boston University - 1,615
- Rice University - 1,277
- University of Maryland - 1,100
- University of South Florida - 1,016
- Stanford University - 930
- University of New Haven - 922
- Wake Forest University - 693
- The George Washington University - 669
- California State Polytechnic University Pomona - 592
10 Insurance MBA Programs with the Lowest Student Enrollment
- University of Nebraska at Kearney - 4
- University of Wisconsin Oshkosh - 13
- Stonehill College - 16
- Worcester Polytechnic Institute - 18
- Sam Houston State University - 19
- University of Wisconsin-Stevens Point - 22
- Minnesota State University Moorhead - 28
- Western Washington University - 35
- Frostburg State University - 36
- Butler University - 37
Career Outlook, Job Opportunities, Roles, Industries for a Insurance MBA
What’s the Career Outlook for Insurance Executives?
According to the Bureau of Labor Statistics (BLS), employment of actuaries is projected to grow 22% through 2026, much faster than the average for all occupations. Actuaries assess risk and are leading candidates for most consulting positions at major firms. There will be plenty of job opportunities available for Actuaries interested in working at some of the most established insurance firms across the U.S.
The median annual wage for actuaries is $100,610 with the highest 10% earning more than $186,250. Business professionals in risk management, insurance, consulting, banking or finance will have ample opportunity to penetrate an industry where highly-quantitative analysts from leading institutions seek entry into manager-in-training programs.
Sector | Avg. Salary |
---|---|
Professional, scientific, and technical services | $104,550 |
Finance and insurance | $101,120 |
Government | $95,550 |
Management of companies and enterprises | $93,370 |
Where Do Insurance Managers with an MBA Work?
The skills developed during an MBA in Insurance program translate well into many other professions. An MBA Program in Risk Management and Insurance will prepare B-Students to be successful in a variety of roles. They include actuary, insurance agent, broker, account executive, consultant, risk manager, sales executive, etc. An accredited AACSB-MBA program, with the help of well-connected faculty and staff,, will prepare B-Students for leadership roles at top firms needing risk management and insurance leaders.
Here is a list of some of the career opportunities available to MBA in Insurance graduates:
- Health insurance actuaries help predict and analyze the anticipated revenue/costs from health insurance premiums. In the booming healthcare industry, insurance professionals have the dual responsibility of managing policy changes and assessing the risk of adopting certain insurance companies.
- Life insurance actuaries whether it’s whole life, term, or annuity insurance plans, a life insurance actuaries helps assess risk and suggest adoption, retention, and termination of certain insurance providers. Most of the time, life insurance actuaries work as consultants/independent contractors analyzing the risks associated with adopting certain policies.
- Property and casualty insurance actuaries are the key players behind developing, implementing, and managing insurance policies that help employees against property loss and liability claims. Whether it’s protecting your home from a forest fire or protecting oneself against litigation during an automobile accident, insurance actuaries provide a host of insurances to the policyholder in case of an unforeseen event or accident.
- Corporate actuaries are the experts that assess risk and rewards associated with a company’s investment. They crunch the numbers and determine whether or not the next business venture would yield a positive or negative return on investment. Most of the time, they conduct break-even analysis and project some of the financials associated with a new venture.
- Pension and retirement benefits actuaries Whether it’s setting up initial employee benefit packages that include 401K plans to new hires or develop the pensions for retired employees, the benefits actuary has a responsibility to report their information to the government. They are the guardians of all employee benefits and report their findings to the government to ensure proper record keeping of company insurance policies.
- Enterprise risk actuaries help analyze the internal and external risks associated with doing business. Whether it’s investing in a new business location, buying a competitor to secure control over the marketplace, or simply launching a new product right in time for the holidays, enterprise risk actuaries quantitatively assess risk for their employer.
What Skills Do I Need to be Successful In Insurance?
Sector | Description |
---|---|
Analytical skills | Risk management and insurance actuaries have to juggle all types of information. They need to be able to interpret high-level data and make sound decisions based on the best interest of the company. They need to interpret information from financial statements and suggest the best course of action. |
Communication skills | Actuaries, whether they’re discussing a break-even analysis with the executive team or conducting a presentation on the viability of a new acquisition, need to express their ideas in a clear, concise manner to internal and external stakeholders. |
Detail oriented | Insurance professionals must produce error-free work at all times. Whether it’s the CEO or the new investor, actuaries are responsible for putting together highly complex financial information that must be accurate, relevant, and timely. |
Interpersonal skills | Insurance actuaries are the managers responsible for guiding the direction of the company. They have the responsibility of delivering their findings about certain company risks in an effective manner. The welfare of a company depends on the ability to concisely disseminate information to certain company stakeholder. |
Leadership skills | These managers need to have the tough conversation with high-level executives. They have to push the direction of the company if they feel it’s in the best interest of their organization. This may mean some tough decision around staff, resources, and the overall direction of the company. |
Technical skills | Technology is always changing, whether it’s how we keep track of sensitive company data or how we manage the interactions with customers. An actuary has to keep up-to-date with the latest industry technology in order to ensure accurate forecasting. |
How We Rank Insurance MBA Programs
The team at responsible for program rankings at MBAGuide.org comprises of data science and product management experts. Our ranking team works independently from the editorial team and is not influenced by editorial decisions.
MBAGuide.org employs a comprehensive ranking methodology that combines quantitative data (80% of the score) with qualitative assessments (20%) to evaluate MBA programs. The quantitative component considers factors such as student-faculty ratio, tuition, enrollment, and post-graduation salaries, while the qualitative aspect incorporates editorial ratings and school reputation, providing a well-rounded view of each program’s quality and value.
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User-Centric Content on Career Outcomes: While you have solid career information, adding more specific examples of roles and job titles for Insurance MBA grads, alongside employer types or alumni success stories, can boost your page’s relevance and user appeal. Pages with these real-world applications often rank higher, as they provide a clearer picture of the degree’s value.
More details on curriculum and specializations offered in finance MBA programs. Cover topics like corporate finance, investment banking, fintech, real estate finance, etc. Discuss how the curriculum prepares students for specific finance careers.
Section on career outcomes and job prospects with a finance MBA. Highlight top employers, roles, and industries. Include salary data and advancement opportunities compared to a regular MBA or Master’s in Insurance.
Admissions requirements and application tips specific to finance MBA programs. Provide guidance on test scores, work experience, essays, and interviews.