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MBA Programs in Insurance
Tuition, ROI, Graduate Salary, GMAT Requirements

10 Best Ranked | Interactive Table | Salaries | Tuition | ROI | GMAT | Alumni Networking | How We Rank

$42,946

Average Tuition – Insurance MBA Programs

$82,121

Average Starting Salary – Insurance MBA Programs

569

Average GMAT Scores – Insurance MBA Programs

183%

Average ROI – Finance MBA Programs

Executive Summary for MBA Programs in Insurance MBA Programs

The ranking team at MBAGuide.org, evaluated 96 Insurance MBA programs. Here is a summary of our comprehensive findings. Explore the details about the Insurance MBA, compare schools, find states and cities where the degree is offered.

  • Starting salary for new MBA graduates in Insurance is between $42,450 and $182,272 with an average of $82,121.
  • Campus tuition in for Insurance MBAs ranges between $9,846 to $179,852, with an average total tuition cost of $42,946
  • ROI for campus MBA programs in Insurance ranges between -40% to 588%, with an average ROI return of 183%
  • A GMAT score between 399 and 737 with an average of 569 is needed for acceptance into an MBA program in Insurance.
  • There are 96 campus and 74 online MBA Insurance Programs.
  • Average student enrollment varies between 6 and 3,836 with an overall average of 346.
  • Student / Faculty Ratio for MBA programs offering a Insurance concentration varies between 4:1 and 35:1 with an average of 17:1 students.
  • 91 MBA programs in Insurance are ranked by the following institutions MBAGuide: 88, US News: 19, Forbes: 15, BW: 17, FT: 12 and Economist: 12.
  1. Comprehensive comparisons, data and analysis – MBAGuide conducted an in-depth analysis of 96 AACSB-accredited campus MBA programs in Insurance to find the top programs in the country.
  2. Ranking metrics you care about – such as average starting salaries, tuition fees, return on investment (ROI), GMAT scores, alumni networks, student-to-faculty ratios, and more with no paywall.
  3. Detailed school profiles of Insurance MBA programs their strengths, faculty expertise, alumni networks to help align your program choice

Best 10 MBA Programs in Insurance

The University of Texas at Dallas

Naveen Jindal School of Management

Location:

  • Richardson

,

  • TX

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business and Accounting

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  • Tuition: $45,000
  • Graduate Salary: $123,163
  • Graduate ROI: 243%
  • GMAT Required: Yes
  • Avg. GMAT: 689
  • Student / Faculty Ratio: 21:1
  • Enrollment: 11097

Degree Level(s):

  • Doctoral
  • ·
  • E-MBA
  • ·
  • Master
  • ·
  • MBA
  • ·
  • Undergraduate

Offered As:

  • Campus
  • ·
  • Distance Education
  • ·
  • Evenings
  • ·
  • Full-Time
  • ·
  • Online
  • ·
  • Part-Time
  • ·
  • Weekends
  • Concentrations: 21
  • Accounting
  • Consulting
  • Corporate Finance
  • Data Analytics
  • Energy
  • Entrepreneurship
  • Finance
  • General Business
  • Global Management
  • Healthcare Administration
  • Human Resources
  • Information Systems
  • Insurance
  • International Business
  • Leadership
  • Management
  • Marketing
  • Operations Management
  • Organizational Behavior
  • Other
  • Supply Chain
  • Best in:
  • Rankings
  • City Rank: 1
  • State Rank: 1
  • National Rank: 1
  • Online Rank: 1
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

University of Wisconsin-Madison

Wisconsin School of Business

Location:

  • Madison

,

  • WI

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business and Accounting

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  • Tuition: $55,575
  • Graduate Salary: $118,983
  • Graduate ROI: 114%
  • GMAT Required: Optional
  • Avg. GMAT: 665
  • Student / Faculty Ratio: 12:1
  • Enrollment: 4414

Degree Level(s):

  • Doctoral
  • ·
  • E-MBA
  • ·
  • Master
  • ·
  • MBA
  • ·
  • Undergraduate

Offered As:

  • Campus
  • ·
  • Evenings
  • ·
  • Full-Time
  • ·
  • Online
  • ·
  • Part-Time
  • ·
  • Partnership
  • ·
  • Weekends
  • Concentrations: 21
  • Accounting
  • Actuarial Science
  • Arts
  • Consulting
  • Corporate Finance
  • Data Analytics
  • Entrepreneurship
  • Ethics
  • Finance
  • General Business
  • Global Management
  • Human Resources
  • Information Systems
  • Insurance
  • International Business
  • Management
  • Marketing
  • Operations Management
  • Other
  • Real Estate
  • Supply Chain
  • Best in:
  • Rankings
  • City Rank: 1
  • State Rank: 1
  • National Rank: 5
  • Online Rank: 3
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

The University of Georgia

Terry College of Business

Location:

  • Athens

,

  • GA

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business and Accounting

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  • Tuition: $30,606
  • Graduate Salary: $120,510
  • Graduate ROI: 294%
  • GMAT Required: Optional
  • Avg. GMAT: 672
  • Student / Faculty Ratio: 24:1
  • Enrollment: 9895

Degree Level(s):

  • Doctoral
  • ·
  • E-MBA
  • ·
  • Master
  • ·
  • MBA
  • ·
  • Undergraduate

Offered As:

  • Campus
  • ·
  • Distance Education
  • ·
  • Evenings
  • ·
  • Full-Time
  • ·
  • Off Campus
  • ·
  • Online
  • ·
  • Part-Time
  • ·
  • Weekends
  • Concentrations: 20
  • Accounting
  • Actuarial Science
  • Arts
  • Corporate Finance
  • Data Analytics
  • Entrepreneurship
  • Finance
  • General Business
  • Global Management
  • Human Resources
  • Information Systems
  • Insurance
  • International Business
  • Law
  • Leadership
  • Management
  • Marketing
  • Real Estate
  • Science and Technology
  • Best in:
  • Rankings
  • City Rank: 1
  • State Rank: 1
  • National Rank: 10
  • Online Rank: 6
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

University of South Carolina

Darla Moore School of Business

Location:

  • Columbia

,

  • SC

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business and Accounting

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  • Tuition: $26,485
  • Graduate Salary: $97,819
  • Graduate ROI: 269%
  • GMAT Required: Yes
  • Avg. GMAT: 670
  • Student / Faculty Ratio: 17:1
  • Enrollment: 6369

Degree Level(s):

  • Doctoral
  • ·
  • E-MBA
  • ·
  • Master
  • ·
  • MBA
  • ·
  • Undergraduate

Offered As:

  • 1-Year
  • ·
  • Campus
  • ·
  • Distance Education
  • ·
  • Evenings
  • ·
  • Full-Time
  • ·
  • Off Campus
  • ·
  • Part-Time
  • ·
  • Partnership
  • ·
  • Weekends
  • Concentrations: 19
  • Accounting
  • Corporate Finance
  • Data Analytics
  • Economics
  • Finance
  • General Business
  • Global Management
  • Human Resources
  • Information Systems
  • Insurance
  • International Business
  • Management
  • Marketing
  • Operations Management
  • Organizational Behavior
  • Other
  • Real Estate
  • Supply Chain
  • Taxation
  • Best in:
  • Rankings
  • City Rank: 1
  • State Rank: 1
  • National Rank: 11
  • Online Rank: Not Ranked
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

The University of Iowa

Tippie College of Business

Location:

  • Iowa City

,

  • IA

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business and Accounting

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  • Tuition: $23,453
  • Graduate Salary: $112,820
  • Graduate ROI: 381%
  • GMAT Required: Optional
  • Avg. GMAT: 650
  • Student / Faculty Ratio: 17:1
  • Enrollment: 5226

Degree Level(s):

  • Doctoral
  • ·
  • Master
  • ·
  • MBA
  • ·
  • Undergraduate

Offered As:

  • Campus
  • ·
  • Evenings
  • ·
  • Full-Time
  • ·
  • Off Campus
  • ·
  • Part-Time
  • ·
  • Partnership
  • ·
  • Weekends
  • Concentrations: 15
  • Accounting
  • Communications
  • Corporate Finance
  • Data Analytics
  • Economics
  • Entrepreneurship
  • Finance
  • General Business
  • Global Management
  • Information Systems
  • Insurance
  • International Business
  • Leadership
  • Management
  • Marketing
  • Best in:
  • Rankings
  • City Rank: 1
  • State Rank: 1
  • National Rank: 21
  • Online Rank: Not Ranked
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

Stanford University

Graduate School of Business

Location:

  • Stanford

,

  • CA

Control: Private

Academic Year: Quarter

Accredited: AACSB

Accreditation: Business

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  • Tuition: $165,591
  • Graduate Salary: $182,272
  • Graduate ROI: 10%
  • GMAT Required: Yes
  • Avg. GMAT: 737
  • Student / Faculty Ratio: 4:1
  • Enrollment: 1090

Degree Level(s):

  • Doctoral
  • ·
  • Master
  • ·
  • MBA

Offered As:

  • Campus
  • ·
  • Full-Time
  • Concentrations: 11
  • Accounting
  • Corporate Finance
  • Economics
  • Education
  • Finance
  • General Business
  • Insurance
  • Management
  • Marketing
  • Organizational Behavior
  • Other
  • Best in:
  • Rankings
  • City Rank: 1
  • State Rank: 2
  • National Rank: 22
  • Online Rank: Not Ranked
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

University of St. Thomas-Minnesota

Opus College of Business

Location:

  • Minneapolis

,

  • MN

Control: Private

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

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  • Tuition: $61,596
  • Graduate Salary: $102,900
  • Graduate ROI: 67%
  • GMAT Required: No
  • Avg. GMAT: 680
  • Student / Faculty Ratio: 17:1
  • Enrollment: 2990

Degree Level(s):

  • E-MBA
  • ·
  • Master
  • ·
  • MBA
  • ·
  • Undergraduate

Offered As:

  • Campus
  • ·
  • Distance Education
  • ·
  • Evenings
  • ·
  • Full-Time
  • ·
  • Online
  • ·
  • Part-Time
  • ·
  • Weekends
  • Concentrations: 19
  • Accounting
  • Communications
  • Corporate Finance
  • Data Analytics
  • E-Commerce
  • Entrepreneurship
  • Finance
  • General Business
  • Global Management
  • Healthcare Administration
  • Human Resources
  • Insurance
  • International Business
  • Law
  • Management
  • Marketing
  • Operations Management
  • Real Estate
  • Supply Chain
  • Best in:
  • Rankings
  • City Rank: 1
  • State Rank: 1
  • National Rank: 24
  • Online Rank: 11
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

University of Pennsylvania

The Wharton School

Location:

  • Philadelphia

,

  • PA

Control: Private for-profit

Academic Year: Quarter

Accredited: AACSB

Accreditation: Business

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  • Tuition: $179,852
  • Graduate Salary: $166,391
  • Graduate ROI: -7%
  • GMAT Required: Yes
  • Avg. GMAT: 733
  • Student / Faculty Ratio: 8:1
  • Enrollment: 3468

Degree Level(s):

  • Doctoral
  • ·
  • MBA
  • ·
  • Undergraduate

Offered As:

  • Full-Time
  • Concentrations: 10
  • Accounting
  • Data Analytics
  • Economics
  • Entrepreneurship
  • Finance
  • Healthcare Administration
  • Insurance
  • Management
  • Public Administration
  • Sustainability
  • Best in:
  • Rankings
  • City Rank: 1
  • State Rank: 1
  • National Rank: 26
  • Online Rank: Not Ranked
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

University of Maryland

Robert H. Smith School of Business

Location:

  • College Park

,

  • MD

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

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  • Tuition: $98,865
  • Graduate Salary: $121,103
  • Graduate ROI: 22%
  • GMAT Required: Optional
  • Avg. GMAT: 656
  • Student / Faculty Ratio: 14:1
  • Enrollment: 4666

Degree Level(s):

  • Doctoral
  • ·
  • E-MBA
  • ·
  • Master
  • ·
  • MBA
  • ·
  • Undergraduate

Offered As:

  • Campus
  • ·
  • Distance Education
  • ·
  • Evenings
  • ·
  • Full-Time
  • ·
  • Off Campus
  • ·
  • Online
  • ·
  • Part-Time
  • ·
  • Weekends
  • Concentrations: 21
  • Accounting
  • Corporate Finance
  • Data Analytics
  • E-Commerce
  • Entrepreneurship
  • Finance
  • General Business
  • Global Management
  • Human Resources
  • Information Systems
  • Insurance
  • International Business
  • Leadership
  • Management
  • Manufacturing
  • Marketing
  • Operations Management
  • Organizational Behavior
  • Quantitative Methods
  • Supply Chain
  • Best in:
  • Rankings
  • City Rank: 1
  • State Rank: 1
  • National Rank: 27
  • Online Rank: 12
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

American University

Kogod School of Business

Location:

  • Washington

,

  • DC

Control: Private

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

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  • Tuition: $98,282
  • Graduate Salary: $105,666
  • Graduate ROI: 8%
  • GMAT Required: No
  • Avg. GMAT: 668
  • Student / Faculty Ratio: 7:1
  • Enrollment: 1538

Degree Level(s):

  • Master
  • ·
  • MBA
  • ·
  • Undergraduate

Offered As:

  • Campus
  • ·
  • Distance Education
  • ·
  • Full-Time
  • ·
  • Online
  • ·
  • Part-Time
  • Concentrations: 18
  • Accounting
  • Arts
  • Corporate Finance
  • Cybersecurity
  • Data Analytics
  • Entrepreneurship
  • Ethics
  • Finance
  • General Business
  • Global Management
  • Information Systems
  • Insurance
  • International Business
  • Law
  • Management
  • Marketing
  • Other
  • Real Estate
  • Taxation
  • Best in:
  • Rankings
  • City Rank: 2
  • State Rank: 2
  • National Rank: 36
  • Online Rank: 18
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

Interactive Table of the Best Ranked MBA Programs in Insurance

Easily sort the interactive table below to find the best Insurance MBA programs by RankSchool NameROITuitionAverage Starting Salary, and Campus or Online to find and to compare MBA programs in Insurance. Click on any school for a comprehensive school profile.

Rank University ROIIn State TuitionAvg. Starting SalaryStateOnline
1 The University of Texas at Dallas 243.00% $45,000 $123,163TXYes
2 University of Wisconsin-Madison 114.00% $55,575 $118,983WIYes
3 The University of Georgia 294.00% $30,606 $120,510GAYes
4 University of South Carolina 269.00% $26,485 $97,819SCNo
5 The University of Iowa 381.00% $23,453 $112,820IANo
6 Stanford University 10.00% $165,591 $182,272CANo
7 University of St. Thomas-Minnesota 67.00% $61,596 $102,900MNYes
8 University of Pennsylvania -7.00% $179,852 $166,391PANo
9 University of Maryland 22.00% $98,865 $121,103MDYes
10 American University 8.00% $98,282 $105,666DCYes
11 The George Washington University 3.00% $113,090 $115,951DCNo
12 Boston University -3.00% $124,248 $120,884MAYes
13 University of Hartford 213.00% $30,168 $94,500CTYes
14 Rice University 2.00% $139,081 $142,212TXYes
15 Temple University 60.00% $60,000 $95,989PAYes
16 University of Cincinnati 263.00% $23,996 $87,013OHYes
17 Georgia State University 156.00% $36,522 $93,600GAYes
18 The Ohio State University 1.00% $106,123 $106,779OHYes
19 Indiana State University 332.00% $19,000 $82,000INYes
20 Texas Christian University -7.00% $115,380 $107,543TXYes
21 Middle Tennessee State University 233.00% $26,712 $89,000TNYes
22 University of Nevada, Las Vegas 331.00% $21,784 $93,820NVYes
23 Baylor University -8.00% $85,692 $79,176TXYes
24 Shenandoah University 158.00% $34,848 $89,900VANo
25 University of Baltimore 120.00% $35,128 $77,400MDYes
26 Ball State University 260.00% $21,197 $76,400INYes
27 California State Polytechnic University Pomona 200.00% $29,800 $89,440CANo
28 Worcester Polytechnic Institute 104.00% $48,300 $98,523MAYes
29 Marquette University 95.00% $46,620 $90,700WIYes
30 Hult International Business School 21.00% $85,000 $102,928MAYes
31 Rensselaer Polytechnic Institute -9.00% $92,510 $84,200NYYes
32 Saint Joseph's University 114.00% $42,912 $92,000PAYes
33 Saint Xavier University 328.00% $22,500 $96,302ILNo
34 The College of New Jersey 78.00% $50,482 $90,000NJNo
35 Illinois Institute of Technology 22.00% $67,690 $82,352ILYes
36 Wake Forest University -3.00% $79,975 $77,800NCYes
37 Missouri State University 313.00% $15,108 $62,400MOYes
38 Butler University 51.00% $39,000 $59,000INYes
39 Minnesota State University Moorhead 224.00% $26,220 $85,000MNYes
40 Creighton University 96.00% $33,234 $65,000NEYes
41 Weber State University 326.00% $19,908 $84,900UTYes
42 The University of Akron 244.00% $17,872 $61,400OHYes
43 St. John's University -25.00% $83,205 $62,619NYYes
44 University of Arkansas at Little Rock 250.00% $18,071 $63,300ARYes
45 Old Dominion University 140.00% $31,564 $75,800VAYes
46 University of Minnesota Duluth 175.00% $33,798 $92,953MNNo
47 Frostburg State University 400.00% $16,740 $83,700MDYes
48 Florida State University 202.00% $18,693 $56,545FLYes
49 University of Wisconsin Oshkosh 200.00% $29,168 $87,400WIYes
50 University of Wisconsin-Stevens Point 107.00% $28,224 $58,350WINo
51 California State University, Fullerton 83.00% $44,550 $81,500CAYes
52 Illinois State University 284.00% $20,050 $76,900ILNo
53 University of South Florida 273.00% $14,955 $55,714FLYes
54 Bowling Green State University 98.00% $27,200 $53,853OHYes
55 Appalachian State University 262.00% $17,463 $63,285NCYes
56 Louisiana State University 27.00% $50,486 $64,142LAYes
57 University of North Florida 249.00% $17,767 $62,014FLNo
58 California State University, Northridge 151.00% $30,897 $77,400CANo
59 Northern Arizona University 176.00% $24,640 $68,100AZYes
60 Prairie View A&M University 155.00% $23,699 $60,500TXNo
61 California State University, East Bay 174.00% $28,000 $76,600CAYes
62 Texas Woman's University 300.00% $20,000 $79,925TXYes
63 Radford University 473.00% $15,984 $91,600VAYes
64 University of Southern Maine 330.00% $20,370 $87,535MEYes
65 California State University, Bakersfield 451.00% $14,272 $78,600CAYes
66 University of Houston-Downtown 342.00% $18,623 $82,273TXYes
67 St. Cloud State University 182.00% $28,969 $81,800MNYes
68 University of South Dakota 219.00% $14,892 $47,553SDYes
69 The University of Mississippi 135.00% $25,914 $60,977MSYes
70 Western Washington University 38.00% $48,448 $67,100WANo
71 University of North Georgia 474.00% $9,846 $56,500GAYes
72 Rochester Institute of Technology -40.00% $108,352 $64,800NYYes
73 Texas Wesleyan University 154.00% $31,080 $79,000TXYes
74 California State University, Sacramento 201.00% $25,260 $76,000CAYes
75 State University of New York College at Oneonta 223.00% $25,064 $81,000NYNo
76 University of New Orleans 118.00% $31,746 $69,100LANo
77 University of North Texas 39.00% $52,268 $72,545TXYes
78 University of Louisiana at Lafayette 64.00% $31,281 $51,200LAYes
79 University of Nebraska at Kearney 450.00% $13,293 $73,150NEYes
80 University of New Haven 62.00% $39,770 $64,600CTYes
81 Le Moyne College 70.00% $35,952 $61,100NYNo
82 Robert Morris University 99.00% $33,750 $67,000PAYes
83 Sam Houston State University 227.00% $21,147 $69,200TXYes
84 University of Montevallo 284.00% $16,140 $61,950ALYes
85 Winthrop University 155.00% $23,508 $60,000SCYes
86 Universidad Ana G. Mendez - Gurabo 305.00% $15,000 $60,752PRNo
87 Stockton University 44.00% $33,012 $47,700NJNo
88 Tennessee Technological University 24.00% $54,000 $66,800TNYes
89 Youngstown State University 377.00% $13,500 $64,400OHYes
90 University of North Alabama 257.00% $16,830 $60,000ALYes
91 Eastern Kentucky University 178.00% $15,264 $42,450KYYes

An MBA program in Insurance will cost you between $9,846.00 to $179,852.00.

  • Number of Programs Offering Insurance MBAs: 96
  • Average GMAT Score for Insurance MBA Programs: 569
  • Average In-State Tuition for Insurance MBA Programs: $42,946.26
  • Average Graduate Salary for Insurance MBA Programs: $82,121
  • Average ROI for Insurance MBA Programs: 183%

Compare Insurance MBA Program Averages vs Campus

 AveragesMBA ProgramsOnline MBA Programs
Number of Programs9674
Average Starting Salary$82,121$80,247
Average MBA Tuition$42,946
$41,691
Average ROI183%187%
Average GMAT Scores569
569
Average Full-Time MBA Faculty7879
Average MBA Student Faculty Ratio17:117:1
Faculty with Doctorate84%84%
Average Full-Time MBA Enrollment346370
Average Part-Time MBA Enrollment322349
Average % of MBA Students from U.S.84%84%

Read about our ranking methodology.

What is the Average MBA Salary for Insurance Graduates?

Though it’s not the only factor, compensation is an important consideration for individuals considering obtaining an MBA degree. Salaries for graduates with master’s degrees in Insurance can be significantly higher than those of graduates with only a bachelor’s degree. In addition, advance salary projections from the US Department of Labor show that average MBA salaries are expected to increase by 13.5% each year through the year 2028 with an annual need of 99,000 new managers needed each year.

MBA salaries differs wildly depending on the program you chose, the industry you enter and the experience you have. After earning an MBA from Eastern Kentucky University, the average MBA graduate annual salary is $42,450 . A degree from Stanford University, will provide an annual salary of $182,272.

Average MBA starting salary for graduates from accredited programs is $82,121 with the lowest of starting of $42,450 and the highest reported starting salary of $182,272.

Average Graduate Salaries for In-Person Insurance MBA Programs

  • Average Insurance: $82,121
  • Lowest Insurance: $42,450
  • Highest Insurance: $182,272

10 Highest Salaries for In-Person MBA Graduates in Insurance

  1. Stanford University - $182,272.00
  2. University of Pennsylvania - $166,391.00
  3. Rice University - $142,212.00
  4. The University of Texas at Dallas - $123,163.00
  5. University of Maryland - $121,103.00
  6. Boston University - $120,884.00
  7. The University of Georgia - $120,510.00
  8. University of Wisconsin-Madison - $118,983.00
  9. The George Washington University - $115,951.00
  10. The University of Iowa - $112,820.00

10 Lowest Salaries for In-Person MBA Graduates in Insurance

  1. Eastern Kentucky University - $42,450.00
  2. University of South Dakota - $47,553.00
  3. Stockton University - $47,700.00
  4. University of Louisiana at Lafayette - $51,200.00
  5. Bowling Green State University - $53,853.00
  6. University of South Florida - $55,714.00
  7. University of North Georgia - $56,500.00
  8. Florida State University - $56,545.00
  9. University of Wisconsin-Stevens Point - $58,350.00
  10. Butler University - $59,000.00

Average Salary for Graduate of MBA Programs in Insurance Programs – Interactive Table

Easily sort the interactive table below to find the best Insurance MBA programs by Starting Salary, and Campus or Online to find and to compare MBA programs in Insurance. Click on any school for a comprehensive school profile.

Rank University Avg. Starting SalaryIn State TuitionROIStateOnline
1 Eastern Kentucky University $42,450 $15,264 178.00%KYYes
2 University of South Dakota $47,553 $14,892 219.00%SDYes
3 Stockton University $47,700 $33,012 44.00%NJNo
4 University of Louisiana at Lafayette $51,200 $31,281 64.00%LAYes
5 Bowling Green State University $53,853 $27,200 98.00%OHYes
6 University of South Florida $55,714 $14,955 273.00%FLYes
7 University of North Georgia $56,500 $9,846 474.00%GAYes
8 Florida State University $56,545 $18,693 202.00%FLYes
9 University of Wisconsin-Stevens Point $58,350 $28,224 107.00%WINo
10 Butler University $59,000 $39,000 51.00%INYes
11 Winthrop University $60,000 $23,508 155.00%SCYes
11 University of North Alabama $60,000 $16,830 257.00%ALYes
13 Prairie View A&M University $60,500 $23,699 155.00%TXNo
14 Universidad Ana G. Mendez - Gurabo $60,752 $15,000 305.00%PRNo
15 The University of Mississippi $60,977 $25,914 135.00%MSYes
16 Le Moyne College $61,100 $35,952 70.00%NYNo
17 The University of Akron $61,400 $17,872 244.00%OHYes
18 University of Montevallo $61,950 $16,140 284.00%ALYes
19 University of North Florida $62,014 $17,767 249.00%FLNo
20 Missouri State University $62,400 $15,108 313.00%MOYes
21 St. John's University $62,619 $83,205 -25.00%NYYes
22 Appalachian State University $63,285 $17,463 262.00%NCYes
23 University of Arkansas at Little Rock $63,300 $18,071 250.00%ARYes
24 Louisiana State University $64,142 $50,486 27.00%LAYes
25 Youngstown State University $64,400 $13,500 377.00%OHYes
26 University of New Haven $64,600 $39,770 62.00%CTYes
27 Rochester Institute of Technology $64,800 $108,352 -40.00%NYYes
28 Creighton University $65,000 $33,234 96.00%NEYes
29 Tennessee Technological University $66,800 $54,000 24.00%TNYes
30 Robert Morris University $67,000 $33,750 99.00%PAYes
31 Western Washington University $67,100 $48,448 38.00%WANo
32 Northern Arizona University $68,100 $24,640 176.00%AZYes
33 University of New Orleans $69,100 $31,746 118.00%LANo
34 Sam Houston State University $69,200 $21,147 227.00%TXYes
35 University of North Texas $72,545 $52,268 39.00%TXYes
36 University of Nebraska at Kearney $73,150 $13,293 450.00%NEYes
37 Old Dominion University $75,800 $31,564 140.00%VAYes
38 California State University, Sacramento $76,000 $25,260 201.00%CAYes
39 Ball State University $76,400 $21,197 260.00%INYes
40 California State University, East Bay $76,600 $28,000 174.00%CAYes
41 Illinois State University $76,900 $20,050 284.00%ILNo
42 California State University, Northridge $77,400 $30,897 151.00%CANo
42 University of Baltimore $77,400 $35,128 120.00%MDYes
44 Wake Forest University $77,800 $79,975 -3.00%NCYes
45 California State University, Bakersfield $78,600 $14,272 451.00%CAYes
46 Texas Wesleyan University $79,000 $31,080 154.00%TXYes
47 Baylor University $79,176 $85,692 -8.00%TXYes
48 Texas Woman's University $79,925 $20,000 300.00%TXYes
49 State University of New York College at Oneonta $81,000 $25,064 223.00%NYNo
50 California State University, Fullerton $81,500 $44,550 83.00%CAYes

What is the Average In-Person MBA Tuition for Insurance Programs?


If you plan on attending an MBA program, it’s best to start thinking about fiscal responsibility. A prospective B-Student needs to weigh their tuition options. An AACSB-accredited MBA program can pave the way for a great starting salary or career advancement. An MBA program can provide the flexibility of completing a program while being employed in your respective career.

The average in-state tuition for an MBA in Insurance is $42,946.26 compared to an average campus program Insurance is $42,946.26 .

The lowest AACSB tuition rate at $9,846.00 from University of North Georgia.

The highest AACSB tuition rate is $179,852.00 from University of Pennsylvania.

Average Tuition for In-Person MBA Programs in Insurance

10 Most Affordable MBA Programs in Insurance

  1. University of North Georgia - $9,846.00
  2. University of Nebraska at Kearney - $13,293.00
  3. Youngstown State University - $13,500.00
  4. California State University, Bakersfield - $14,272.00
  5. University of South Dakota - $14,892.00
  6. University of South Florida - $14,955.00
  7. Universidad Ana G. Mendez - Gurabo - $15,000.00
  8. Missouri State University - $15,108.00
  9. Eastern Kentucky University - $15,264.00
  10. Radford University - $15,984.00

10 Most Expensive MBA Programs in Insurance

  1. University of Pennsylvania - $179,852.00
  2. Stanford University - $165,591.00
  3. Rice University - $139,081.00
  4. Boston University - $124,248.00
  5. Texas Christian University - $115,380.00
  6. The George Washington University - $113,090.00
  7. Rochester Institute of Technology - $108,352.00
  8. The Ohio State University - $106,123.00
  9. University of Maryland - $98,865.00
  10. American University - $98,282.00

Interactive Table – Tuition for MBA Programs in Insurance Programs

Easily sort the interactive table below to find the best Insurance MBA programs by Tuition to find and to compare MBA programs in Insurance. Click on any school for a comprehensive school profile.

Rank University In State TuitionAvg. Starting SalaryROIStateOnline
1 University of North Georgia $9,846 $56,500 474.00%GAYes
2 University of Nebraska at Kearney $13,293 $73,150 450.00%NEYes
3 Youngstown State University $13,500 $64,400 377.00%OHYes
4 California State University, Bakersfield $14,272 $78,600 451.00%CAYes
5 University of South Dakota $14,892 $47,553 219.00%SDYes
6 University of South Florida $14,955 $55,714 273.00%FLYes
7 Universidad Ana G. Mendez - Gurabo $15,000 $60,752 305.00%PRNo
8 Missouri State University $15,108 $62,400 313.00%MOYes
9 Eastern Kentucky University $15,264 $42,450 178.00%KYYes
10 Radford University $15,984 $91,600 473.00%VAYes
11 University of Montevallo $16,140 $61,950 284.00%ALYes
12 Frostburg State University $16,740 $83,700 400.00%MDYes
13 University of North Alabama $16,830 $60,000 257.00%ALYes
14 Appalachian State University $17,463 $63,285 262.00%NCYes
15 University of North Florida $17,767 $62,014 249.00%FLNo
16 The University of Akron $17,872 $61,400 244.00%OHYes
17 University of Arkansas at Little Rock $18,071 $63,300 250.00%ARYes
18 University of Houston-Downtown $18,623 $82,273 342.00%TXYes
19 Florida State University $18,693 $56,545 202.00%FLYes
20 Indiana State University $19,000 $82,000 332.00%INYes
21 Weber State University $19,908 $84,900 326.00%UTYes
22 Texas Woman's University $20,000 $79,925 300.00%TXYes
23 Illinois State University $20,050 $76,900 284.00%ILNo
24 University of Southern Maine $20,370 $87,535 330.00%MEYes
25 Sam Houston State University $21,147 $69,200 227.00%TXYes
26 Ball State University $21,197 $76,400 260.00%INYes
27 University of Nevada, Las Vegas $21,784 $93,820 331.00%NVYes
28 Saint Xavier University $22,500 $96,302 328.00%ILNo
29 The University of Iowa $23,453 $112,820 381.00%IANo
30 Winthrop University $23,508 $60,000 155.00%SCYes
31 Prairie View A&M University $23,699 $60,500 155.00%TXNo
32 University of Cincinnati $23,996 $87,013 263.00%OHYes
33 Northern Arizona University $24,640 $68,100 176.00%AZYes
34 State University of New York College at Oneonta $25,064 $81,000 223.00%NYNo
35 California State University, Sacramento $25,260 $76,000 201.00%CAYes
36 The University of Mississippi $25,914 $60,977 135.00%MSYes
37 Minnesota State University Moorhead $26,220 $85,000 224.00%MNYes
38 University of South Carolina $26,485 $97,819 269.00%SCNo
39 Middle Tennessee State University $26,712 $89,000 233.00%TNYes
40 Bowling Green State University $27,200 $53,853 98.00%OHYes
41 California State University, East Bay $28,000 $76,600 174.00%CAYes
42 University of Wisconsin-Stevens Point $28,224 $58,350 107.00%WINo
43 St. Cloud State University $28,969 $81,800 182.00%MNYes
44 University of Wisconsin Oshkosh $29,168 $87,400 200.00%WIYes
45 California State Polytechnic University Pomona $29,800 $89,440 200.00%CANo
46 University of Hartford $30,168 $94,500 213.00%CTYes
47 The University of Georgia $30,606 $120,510 294.00%GAYes
48 California State University, Northridge $30,897 $77,400 151.00%CANo
49 Texas Wesleyan University $31,080 $79,000 154.00%TXYes
50 University of Louisiana at Lafayette $31,281 $51,200 64.00%LAYes

What is the Average ROI for MBA Programs in Insurance?

Choosing an MBA program requires more than a glance at the school’s reputation or curriculum. The return on investment (ROI) should take center stage in your evaluation. This measurement reveals the potential value derived from your tuition investment, putting key factors such as starting salary and career progression under the microscope.

By scrutinizing the ROI, you’re not just making a decision—you’re making an informed one. This approach will ensure the selection of an MBA program that provides the most bang for your buck. Checking the ROI might not be an afterthought; it could be the game-changer in your MBA journey.

For MBA programs in across the U.S., the ROI ranges from -40% to 588%.The lowest MBA ROI of -40% is from the program at Rochester Institute of Technology.The highest MBA ROI of 588% is offered by University of North Georgia.On average, MBA programs across the U.S. have an ROI of 186%.

Interactive Table – ROI for MBA Programs in Insurance Programs

Easily sort the interactive table below to find the best Insurance MBA programs by ROI to find and to compare MBA programs in Insurance. Click on any school for a comprehensive school profile.

Rank University ROIIn State TuitionAvg. Starting SalaryStateOnline
1 University of North Georgia 474.00% $9,846 $56,500GAYes
2 Radford University 473.00% $15,984 $91,600VAYes
3 California State University, Bakersfield 451.00% $14,272 $78,600CAYes
4 University of Nebraska at Kearney 450.00% $13,293 $73,150NEYes
5 Frostburg State University 400.00% $16,740 $83,700MDYes
6 The University of Iowa 381.00% $23,453 $112,820IANo
7 Youngstown State University 377.00% $13,500 $64,400OHYes
8 University of Houston-Downtown 342.00% $18,623 $82,273TXYes
9 Indiana State University 332.00% $19,000 $82,000INYes
10 University of Nevada, Las Vegas 331.00% $21,784 $93,820NVYes
11 University of Southern Maine 330.00% $20,370 $87,535MEYes
12 Saint Xavier University 328.00% $22,500 $96,302ILNo
13 Weber State University 326.00% $19,908 $84,900UTYes
14 Missouri State University 313.00% $15,108 $62,400MOYes
15 Universidad Ana G. Mendez - Gurabo 305.00% $15,000 $60,752PRNo
16 Texas Woman's University 300.00% $20,000 $79,925TXYes
17 The University of Georgia 294.00% $30,606 $120,510GAYes
18 Illinois State University 284.00% $20,050 $76,900ILNo
18 University of Montevallo 284.00% $16,140 $61,950ALYes
20 University of South Florida 273.00% $14,955 $55,714FLYes
21 University of South Carolina 269.00% $26,485 $97,819SCNo
22 University of Cincinnati 263.00% $23,996 $87,013OHYes
23 Appalachian State University 262.00% $17,463 $63,285NCYes
24 Ball State University 260.00% $21,197 $76,400INYes
25 University of North Alabama 257.00% $16,830 $60,000ALYes
26 University of Arkansas at Little Rock 250.00% $18,071 $63,300ARYes
27 University of North Florida 249.00% $17,767 $62,014FLNo
28 The University of Akron 244.00% $17,872 $61,400OHYes
29 The University of Texas at Dallas 243.00% $45,000 $123,163TXYes
30 Middle Tennessee State University 233.00% $26,712 $89,000TNYes
31 Sam Houston State University 227.00% $21,147 $69,200TXYes
32 Minnesota State University Moorhead 224.00% $26,220 $85,000MNYes
33 State University of New York College at Oneonta 223.00% $25,064 $81,000NYNo
34 University of South Dakota 219.00% $14,892 $47,553SDYes
35 University of Hartford 213.00% $30,168 $94,500CTYes
36 Florida State University 202.00% $18,693 $56,545FLYes
37 California State University, Sacramento 201.00% $25,260 $76,000CAYes
38 California State Polytechnic University Pomona 200.00% $29,800 $89,440CANo
38 University of Wisconsin Oshkosh 200.00% $29,168 $87,400WIYes
40 St. Cloud State University 182.00% $28,969 $81,800MNYes
41 Eastern Kentucky University 178.00% $15,264 $42,450KYYes
42 Northern Arizona University 176.00% $24,640 $68,100AZYes
43 University of Minnesota Duluth 175.00% $33,798 $92,953MNNo
44 California State University, East Bay 174.00% $28,000 $76,600CAYes
45 Shenandoah University 158.00% $34,848 $89,900VANo
46 Georgia State University 156.00% $36,522 $93,600GAYes
47 Prairie View A&M University 155.00% $23,699 $60,500TXNo
47 Winthrop University 155.00% $23,508 $60,000SCYes
49 Texas Wesleyan University 154.00% $31,080 $79,000TXYes
50 California State University, Northridge 151.00% $30,897 $77,400CANo
51 Old Dominion University 140.00% $31,564 $75,800VAYes
52 The University of Mississippi 135.00% $25,914 $60,977MSYes
53 University of Baltimore 120.00% $35,128 $77,400MDYes
54 University of New Orleans 118.00% $31,746 $69,100LANo
55 Saint Joseph's University 114.00% $42,912 $92,000PAYes
55 University of Wisconsin-Madison 114.00% $55,575 $118,983WIYes
57 University of Wisconsin-Stevens Point 107.00% $28,224 $58,350WINo
58 Worcester Polytechnic Institute 104.00% $48,300 $98,523MAYes
59 Robert Morris University 99.00% $33,750 $67,000PAYes
60 Bowling Green State University 98.00% $27,200 $53,853OHYes
61 Creighton University 96.00% $33,234 $65,000NEYes
62 Marquette University 95.00% $46,620 $90,700WIYes
63 California State University, Fullerton 83.00% $44,550 $81,500CAYes
64 The College of New Jersey 78.00% $50,482 $90,000NJNo
65 Le Moyne College 70.00% $35,952 $61,100NYNo
66 University of St. Thomas-Minnesota 67.00% $61,596 $102,900MNYes
67 University of Louisiana at Lafayette 64.00% $31,281 $51,200LAYes
68 University of New Haven 62.00% $39,770 $64,600CTYes
69 Temple University 60.00% $60,000 $95,989PAYes
70 Butler University 51.00% $39,000 $59,000INYes
71 Stockton University 44.00% $33,012 $47,700NJNo
72 University of North Texas 39.00% $52,268 $72,545TXYes
73 Western Washington University 38.00% $48,448 $67,100WANo
74 Louisiana State University 27.00% $50,486 $64,142LAYes
75 Tennessee Technological University 24.00% $54,000 $66,800TNYes
76 Illinois Institute of Technology 22.00% $67,690 $82,352ILYes
76 University of Maryland 22.00% $98,865 $121,103MDYes
78 Hult International Business School 21.00% $85,000 $102,928MAYes
79 Stanford University 10.00% $165,591 $182,272CANo
80 American University 8.00% $98,282 $105,666DCYes
81 The George Washington University 3.00% $113,090 $115,951DCNo
82 Rice University 2.00% $139,081 $142,212TXYes
83 The Ohio State University 1.00% $106,123 $106,779OHYes

ROI for MBA Programs

  • Average: 186%
  • Lowest: -40%
  • Highest: 588%

10 Highest ROI for MBA Programs in Insurance

  1. University of North Georgia - 474.00%
  2. Radford University - 473.00%
  3. California State University, Bakersfield - 451.00%
  4. University of Nebraska at Kearney - 450.00%
  5. Frostburg State University - 400.00%
  6. The University of Iowa - 381.00%
  7. Youngstown State University - 377.00%
  8. University of Houston-Downtown - 342.00%
  9. Indiana State University - 332.00%
  10. University of Nevada, Las Vegas - 331.00%

10 Lowest ROI for MBA Programs in Insurance

  1. The Ohio State University - 1.00%
  2. Rice University - 2.00%
  3. The George Washington University - 3.00%
  4. American University - 8.00%
  5. Stanford University - 10.00%
  6. Hult International Business School - 21.00%
  7. Illinois Institute of Technology - 22.00%
  8. University of Maryland - 22.00%
  9. Tennessee Technological University - 24.00%
  10. Louisiana State University - 27.00%

What is the Average GMAT Score Needed for an MBA Program in Insurance?

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.

Even though some B-Schools may not require a GMAT Scores, there’s a good chance that a highly-competitive MBA program does require the GMAT. With that being said, average GMAT Scores for in-person MBA programs in Insurance is 569 with a highest of 737 and the lowest of 399

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 569.

It’s important to note that not all MBA programs require a GMAT Score for admissions, but most reputable programs do. With that being said, if you have your eye on a list of competitive programs, it’s best to boost your GMAT Score accordingly. Outside of a solid GMAT Score, B-School admissions departments look at a candidate’s undergraduate GPA, professional experience, letters of recommendation, CV, and personal statement. A strong undergraduate performance may offset a sub-part GMAT Score. The average GMAT Score for on-campus MBA programs in Insurance is a 568.90 compared to an average MBA program score of 568.90. It is recommended that each B-School applicant take a GMAT diagnostic test in order to determine whether or not further study and/or a prep course is needed to boost your score.

Average GMAT Score for MBA Programs in Insurance

  • Average: 569
  • Lowest: 399
  • Highest: 737

10 Lowest GMAT for MBA Programs in Insurance

  1. University of New Haven - 399
  2. Radford University - 438
  3. Tennessee Technological University - 440
  4. University of North Texas - 442
  5. University of North Alabama - 447
  6. Stockton University - 454
  7. Sam Houston State University - 456
  8. Le Moyne College - 460
  9. Robert Morris University - 471
  10. University of Nebraska at Kearney - 490

10 Highest GMAT for MBA Programs in Insurance

  1. Stanford University - 737
  2. University of Pennsylvania - 733
  3. Rice University - 710
  4. The University of Texas at Dallas - 689
  5. Indiana State University - 685
  6. Boston University - 683
  7. University of St. Thomas-Minnesota - 680
  8. The University of Georgia - 672
  9. The Ohio State University - 672
  10. University of South Carolina - 670

No GMAT or GRE: Best MBA Programs in Insurance

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.

Alumni from Schools Offering an MBA in Insurance

There are pros and cons when considering the size of your MBA in Accounting program. Larger, more diverse student populations, may lend itself to greater networking and job placement opportunities; whereas smaller programs may provide for more meaningful interactions with fellow classmates.

The importance of networking, whether it’s by way of campus job fairs, student organization members, or faculty mentorship, should not be understated when considering an MBA program. The average MBA enrollment size has a direct impact on your studies, your job prospects, your ability to define your career goals and after graduation connections.

Every B-School has a strategy behind their enrollment sizes. If a prospective B-Student is looking for networking opportunities, wants to attend job fairs, and plans on joining student organizations, B-School enrollment size plays an important role in the decision making process. For the B-Student interested in the smaller cohort-style classroom experience and thrive with face-to-face collaboration with their professors, a manageable enrollment size is the preferred option.

For Insurance MBA programs, the range for full-time enrollment is between 6 and 3,836. For part-time enrollment, the range is between : 19.00 and : 3,008.00.

Average Enrollment for MBA Programs Offering an MBA in Insurance

10 MBA Programs with the Highest Enrollment (Alumni)

  1. The University of Texas at Dallas - 3,836
  2. University of North Texas - 1,679
  3. Boston University - 1,590
  4. University of New Haven - 1,192
  5. University of South Florida - 1,110
  6. Georgia State University - 998
  7. Stanford University - 957
  8. Rice University - 833
  9. Saint Joseph's University - 807
  10. The George Washington University - 712

10 MBA Programs with the Smallest Enrollment (Alumni)

  1. The College of New Jersey - 6
  2. University of Nebraska at Kearney - 9
  3. Minnesota State University Moorhead - 11
  4. University of North Georgia - 13
  5. Sam Houston State University - 20
  6. University of Wisconsin Oshkosh - 21
  7. University of Wisconsin-Stevens Point - 28
  8. University of Minnesota Duluth - 28
  9. Texas Wesleyan University - 32
  10. Western Washington University - 33

Student / Faculty Ratio for MBA Programs in Insurance

For most students, their professors are the first exposure to the business world. They are normally practitioners in the field and have successful risen to the top of their respective careers. B-School Insurance Professors can guide you toward a specific concentration, provide the latest industry trends, and put you on the right track, career-wise. The Student/Faculty ratio is important to those interested in building a lasting relationship with their professor. To use them as a networking opportunity and an advisor.

Top 10 Concentrations Available from Schools Also Offering an Degree in Insurance?

Highly competitive B-Schools recruit part-time and full-time professors that are both academic and industry influencers. They are the subject matter experts in their respective concentrations. To meet the diverse needs of Insurance businesses, MBA programs here have risen to the challenge by offering you an array of more than 47 MBA concentrations including:

  • Insurance: 91
  • Management: 83
  • Finance: 82
  • General Business: 80
  • Accounting: 78
  • Marketing: 77
  • Corporate Finance: 76
  • Data Analytics: 62
  • Information Systems: 54
  • International Business: 48

Here are the top schools offering the widest variety of concentrations to choose from:

The Importance of MBA Accreditation for MBA Programs

The importance of accreditation can’t be underestimated. For many, knowing your school is accredited by the AACSB and regionally accredited by the US Department of Education is enough assurance that you will receive a quality education, where credits are more likely to transfer, and you will be qualified for loans, grants, and scholarships.

AACSB accreditation is considered to be the gold standard in business school credentialing. Established to promote high-quality business education in the U.S., AACSB members developed a stringent accreditation process. Members are held accountable for following an established business education framework set forth by the AACSB. With that comes MBA degrees conferrals that are widely recognized by Fortune 500 companies. This results in lucrative job opportunities.

MBA Program Options Available for Insurance MBA Programs

Options for earning your Insurance MBA have never been more flexible. Insurance MBA programs have become adept at offering effective alternatives for you to earn your MBA, no matter your life situation or schedule.

There are 96 Insurance accredited MBA programs. 4 private and 63 public schools offering Insurance MBA programs.

Number of Award Earned for MBA Programs Offering an Insurance Degree

The ranking of MBA programs is certainly not an exact science and plenty of subjective reasoning and biases come into play. We offer insights into ranking as another way to evaluate a potential MBA program.

Of the 96 accredited MBA programs offered in Insurance, 88 of them have been recognized by at least one distinguished publication MBAGuide, PQ, US News, Forbes, BW, FT and Economist garnering an award as one of the best MBA programs in the country.

Publications and the number of awards granted for an MBA degree in Insurance :

  • MBAGuide: 88
  • US News: 19
  • Forbes: 15
  • BW: 17
  • FT: 12
  • Economist: 12

How We Rank the Best MBA Programs in Insurance

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.

Best MBA Programs by Concentration: Online and In-Person

MBA Programs in Insurance

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.

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.

SectorAvg. 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?

SectorDescription
Analytical skillsRisk 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 skillsActuaries, 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 orientedInsurance 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 skillsInsurance 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 skillsThese 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 skillsTechnology 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.

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