2024 Best MBA Programs in Illinois

Illinois, the U.S. and Online

Averages	Illinois MBA Programs	Online MBA Programs	MBA Programs in the US
Average MBA Tuition	$48,710	$38,871	$43,473
Average GMAT Scores	571	550	562
Average Full-Time MBA Faculty	71	69	69
Average MBA Student Faculty Ratio	14:1	17:1	16:1
Average # of MBA Faculty with Doctorate	84.61%	83.45%	83.95%
Average Full-Time MBA Enrollment	287	279	288
Average Part-Time MBA Enrollment	739	404	354
Average % of MBA Students from U.S.	68%	76%	75%

What Are the Best Ranked MBA Programs in Illinois

Read about our ranking methodology.

What is the Average Graduate MBA Salary in Illinois?

While the average starting salary for graduates of an in-person MBA program in Illinois is about $92,682, the lowest average MBA starting salary is $57,450 from Bradley University, and the highest average MBA starting salary is $175,000 from Northwestern University.

The average starting salary for graduates of an Online MBA program from an institution in Illinois is between $57,450 from Bradley University and $167,977 from University of Illinois at Chicago. The average starting MBA salary for graduates of online MBA programs within Illinois is $84,365.

Average Graduate Salaries for In-Person MBA Programs

• Average: $93,760 from Illinois's 19 In-Person MBA Programs
• Lowest In-Person: $57,450 from Bradley University
• Highest In-Person:$175,000 from Northwestern University

Average Graduate Salaries for Online MBA Programs

• Average: $84,365 from Illinois's 13 Online MBA Programs
• Lowest Online: $57,450 from Bradley University
• Highest Online: $167,977 from University of Illinois at Chicago

 

What is the Average Tuition for MBA Programs in Illinois?
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 online MBA program can provide the flexibility of completing a program while being employed in your respective career.

While the average in-person MBA program in Illinois will cost about $48,710, the least expensive MBA program is $13,788 from Governors State University, and the most expensive is $167,393 from The University of Chicago.

An Online MBA program from an institution in Illinois will cost you between $13,788 from Governors State University and $73,375 from Loyola University Chicago. The average cost of online MBA programs within Illinois is $33,811.

Average Tuition for In-Person MBA Programs

• Average: $48,710 from Illinois's 19 in-person MBA Programs
• Lowest in-person: $13,788 from Governors State University
• Highest in-person: $167,393 from The University of Chicago

Average Tuition for Online MBA Programs

• Average: $33,811 from Illinois's 13 online MBA Programs
• Lowest online: $13,788 from Governors State University
• Highest online: $73,375 from Loyola University Chicago

What is the ROI for MBA Programs in Illinois?

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.

While the average in-person MBA program ROI from Illinois is 142%, the lowest ROI is 50% from The University of Chicago, and the best ROI is 268% from Governors State University.

The ROI from Online MBA programs in Illinois range between 61% from Loyola University Chicago and 268% from Governors State University. The average ROI of online MBA programs within Illinois is 161%.

In-Person ROI for MBA Programs

• Average: 142% from Illinois's 19 in-person MBA Programs
• Lowest in-person: 50% from The University of Chicago
• Highest in-person: 268% from Governors State University

Online ROI for MBA Programs

• Average: 161% from Illinois's 13 online MBA Programs
• Lowest online: 61% from Loyola University Chicago
• Highest online: 268% from Governors State University

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

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.

While the average GMAT score needed for in-person MBA program in Illinois is 571, the lowest average GMAT score is for an MBA program is 455 from DePaul University, and the highest GMAT score needed is 729 from The University of Chicago.

The average GMAT score needed for an online MBA program from an institution in Illinois is between 471 from University of Illinois at Springfield to 631 from Purdue University Global. The average GMAT scored for online MBA programs within Illinois is 563.

Average GMAT Score for In-Person MBA Programs

• Average: 568 from Illinois's 19 in-person MBA Programs
• Lowest in-person: 455 from DePaul University
• Highest in-person: 729 from The University of Chicago

Average GMAT Score for Online MBA Programs

• Average: 563 from Illinois's 13 online MBA Programs
• Lowest online: 471 from University of Illinois at Springfield
• Highest online: 631 from Purdue University Global

Which MBA Schools Have the Highest Student Enrollment in Illinois?

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

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 Illinois state's MBA programs, the range for full-time enrollment is between 7 and 974. For part-time enrollment, the range is between 20 and 5,032.

Average Enrollment for In-Person MBA Programs

• Lowest: 7 from University of Illinois at Springfield
• Highest: 974 from University of Illinois at Urbana-Champaign
• Average: 287 from Illinois's 36 MBA Programs.
• Average: 291 from 875 the nation's campus MBA Programs.

Average Enrollment for Online MBA Programs

• Lowest: 7 from University of Illinois at Springfield
• Highest: 974 from University of Illinois at Urbana-Champaign
• Average: 326 from Illinois's 13 MBA Programs.
• Average: 279 from 327 nation's online MBA Programs.

What MBA Concentrations Available in Illinois?

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 Illinois businesses, MBA programs here have risen to the challenge by offering you an array of more than 50 MBA concentrations including:

• Finance: 33
• Information Systems: 32
• Management: 32
• General Business: 31
• Accounting: 31
• Marketing: 30
• Entrepreneurship: 24
• International Business: 24
• Economics: 23
• Supply Chain: 21

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

• Purdue University Global: 27
• Illinois Institute of Technology: 26
• Northeastern Illinois University: 26
• Northwestern University: 24
• DePaul University: 23
• North Central College: 22
• Northern Illinois University: 20
• Aurora University: 19
• Midstate College: 18
• Western Illinois University: 17

The Importance of MBA Accreditation

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.

Cities Offering MBA Programs in Illinois

Looking for a particular city in Illinois with an accredited MBA program? Research and compare MBA programs from other cities in Illinois. Find online programs, programs by concentration, by average GMAT score and more.

• Carbondale
• Champaign
• Charleston
• Chicago
• Dekalb
• Edwardsville
• Evanston
• Macomb
• Normal
• Peoria
• River Forest
• Springfield
• University Park

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MBA Program Options Available in Illinois

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

Illinois has 36 Accredited MBA programs. 3 private and 11 public schools offering MBA programs.

Illinois has 11 public schools and 3 private schools offering MBA degree programs.

36 Accredited MBA programs.  and 11 public schools offering MBA programs.

Illinois schools offer 10 different paths to earn your MBA in Illinois including Campus, Full-Time, Part-Time, Online, Evenings, Weekends, Distance Education, Off Campus, 1-Year and Partnership.

To meet the diverse needs of Illinois businesses, MBA programs here have risen to the challenge by offering you an array of more than 50 MBA concentrations to specialize in.

Awards for MBA Programs in Illinois

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 36 accredited MBA programs offered in Illinois, 19 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.

Illinois schools have earned a total of 36 Best MBA awards from publications. Here are the top MBA schools and the number of awards the each program has garnered:

• The University of Chicago: 7
• Northwestern University: 7
• University of Illinois at Urbana-Champaign: 6
• Western Illinois University: 1
• Southern Illinois University Edwardsville: 1
• Northeastern Illinois University: 1
• Loyola University Chicago: 1
• Illinois State University: 1
• University of Illinois at Chicago: 1
• Bradley University: 1
• Illinois Institute of Technology: 1
• Dominican University: 1
• DePaul University: 1
• Eastern Illinois University: 1
• University of Illinois at Springfield: 1
• Southern Illinois University Carbondale: 1
• Northern Illinois University: 1
• Saint Xavier University: 1
• Governors State University: 1

Publications and the number of awards granted for Illinois schools:

• MBAGuide: 19
• US News: 3
• Forbes: 3
• BW: 3
• FT: 3
• Economist: 2

Data sources: IPEDS, National Center of Educational Statistics, U.S. Department of Education, Institute of Education Sciences (ERIC), Association to Advance Collegiate Schools of Business (AACSB), 520 MBA Schools, U.S. Bureau of Labor Statistics (BLS). If you notice errors in the MBA program database, please contact us.

Find: MBA Programs in Illinois | Online MBA Programs in Illinois Rankings: MBA Program Rankings | Online MBA Program Rankings Guides: Guide to Earning an Online MBA | Guide to Earning an MBA Concentrations: Online MBA Concentrations | Campus MBA Concentrations