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2025 Best MBA Programs in Indiana

Avatar photo Updated onMarch 3, 2025
Reading Time: 8 minutes
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Interactive Table | Best MBAs Detail | Tuition | Salary | ROI | Average GMAT | No GMAT / GRE | How We Rank

Executive Summary MBA Programs in Indiana for 2025

$28,248

Average MBA Tuition in Indiana

$81,619

Average Starting MBA Salary in Indiana

598

Average GMAT Scores in Indiana

2,397

Average Student Enrollment in Indiana

  • In Indiana there are 14 campus and 12 online MBA Programs.
  • Starting salary for new MBA graduates in Indiana is reported to be between $59,000 and $136,352 with an average of $81,619.
  • Tuition for Indiana campus MBA programs ranges from $7,458 to $123,500, and averages $28,248
  • Online tuition in for Indiana MBAs ranges between $7,458 to $44,816, with an average total tuition cost of $21,636
  • The ROI for MBA programs in Indiana is between the highest of 906% and the lowest of 8% with an average of 332%
  • Average student enrollment in Indiana varies between 392 and 14,011 with an overall average of 2,397.
  • Student / Faculty Ratio for MBA programs in Indiana varies between 11:1 and 20:1 with an average of 14:1 students.
  • A GMAT score between 458 and 685 with an average of 598 is needed for acceptance into an MBA program.
  • Indiana has 14 MBA programs are ranked by the following institutions MBAGuide: 13, US News: 3, Forbes: 3, BW: 3, FT: 3 and Economist: 3.

Key Highlights:

    • Comprehensive comparisons and data about tuition fees, average starting salaries, GMAT scores, and enrollment statistics for MBA programs in Indiana.

    • Detailed profiles of both online and on-campus MBA programs in Indiana, their strengths, unique specializations, faculty expertise, and alumni networks are included to help align your study choice with your career ambitions.

    • Insights into Indiana's diverse economic sectors, demonstrating how an MBA degree serves as a potent tool in these industries.

Top 5 Industries and Companies Hiring MBA Graduates in Indiana

Indiana boasts a robust and varied economy that offers a multitude of opportunities for MBA graduates. Industries such as manufacturing, healthcare, retail, finance, and agriculture play a pivotal role in Indiana's economy and hence offer significant career opportunities for MBA graduates with relevant specializations.

The manufacturing industry in Indiana is one of the strongest in the nation, making the state a perfect fit for MBA graduates specializing in operations management or supply chain management.

The healthcare sector in Indiana is growing rapidly, and the need for skilled administrators in this field is high. An MBA with a concentration in healthcare management would be highly beneficial in this industry.

Indiana's retail sector is also substantial, with major national retail chains headquartered in the state. Those with MBAs focused on marketing, retail management, or human resources can find significant opportunities in this industry.

In addition, Indiana's agricultural sector offers diverse opportunities for MBA graduates. Those with a focus on agribusiness or sustainability management can leverage their skills in this sector.

Major Industries in Indiana Relevance to MBA Students
Manufacturing Strong sector with opportunities for MBAs specializing in operations and supply chain management.
Healthcare Growing industry with a high demand for MBA graduates with a healthcare management focus.
Retail Large sector providing opportunities for MBA graduates with specializations in marketing, retail management, or HR.
Finance Robust sector ideal for MBA graduates focusing on financial management or investment banking.
Agriculture Offers opportunities for MBA graduates focusing on agribusiness or sustainability management.

Top Hiring Companies in Indiana Why Work There
Eli Lilly and Company Global pharmaceutical company with opportunities in healthcare management, operations, and strategy.
Cummins Inc. A multinational corporation that designs, manufactures, and distributes engines, filtration, and power generation products. It offers roles in operations, finance, and marketing.
Anthem Inc. A healthcare services provider with opportunities in healthcare management and strategic planning.
Simon Property Group The largest public U.S. real estate company offering roles in finance, operations, and real estate management.
Zimmer Biomet A medical device manufacturer with opportunities in operations, healthcare management, and strategic planning.

Sortable Table of the Top AACSB Accredited MBA Programs in Indiana

Easily sort the interactive table below to find the best MBA programs by Rank, School Name, ROI, Tuition, Average Starting Salary, and Campus or Online to find and to compare MBA programs in Indiana. Click on any school for a comprehensive school profile.

Rank University Avg. Graduate ROIAvg. In State TuitionAvg. Starting SalaryStateCampus and Online
1 Indiana University Bloomington/Indianapolis 124.00% $29,573 $136,352INYes
2 University of Notre Dame 8.00% $123,500 $133,018INNo
3 Indiana State University 332.00% $19,000 $82,000INYes
4 Purdue University 110.00% $44,816 $94,000INYes
5 Purdue University Northwest 605.00% $12,350 $87,100INNo
6 Ball State University 260.00% $21,197 $76,400INYes
7 Butler University 51.00% $39,000 $59,000INYes
8 Valparaiso University 116.00% $30,000 $64,840INYes
9 Indiana University South Bend 709.00% $7,458 $60,300INYes
10 Indiana University Southeast 261.00% $17,905 $64,650INYes
11 Purdue University Fort Wayne 362.00% $16,756 $77,400INYes
12 Indiana University Kokomo 393.00% $13,563 $66,900INYes
13 University of Southern Indiana 409.00% $12,900 $65,700INYes
14 Indiana University Northwest 906.00% $7,458 $75,000INYes

10 Best Ranked MBA Programs in Indiana

Jump to a Best Ranked Program
  • Indiana University Bloomington/Indianapolis
  • University of Notre Dame
  • Indiana State University
  • Purdue University
  • Purdue University Northwest
  • Purdue University Calumet
  • Ball State University
  • Indiana University Bloomington
  • Butler University
  • Valparaiso University
  • Indiana University South Bend
  • Indiana University Southeast
  • Purdue University Fort Wayne
  • Indiana University Kokomo
  • University of Southern Indiana
  • Indiana University Northwest
  • University of Evansville
  • Anderson University
  • University of Saint Francis
  • University of Indianapolis
  • Bethel College
  • Taylor University
  • Oakland City University
  • Indiana Wesleyan University

Indiana University Bloomington/Indianapolis

Indiana University Bloomington Indianapolis Kelley School of Business

Kelley School of Business

Location:

  • Bloomington

,

  • IN

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business and Accounting

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  • Tuition: $29,573
  • Graduate Salary: $136,352
  • Graduate ROI: 124%
  • GMAT Required: Yes
  • Avg. GMAT: 685
  • Student / Faculty Ratio: 15:1
  • Enrollment: 14,011

Degree Level(s):

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

Offered As:

  • Campus
  • ·
  • Distance Education
  • ·
  • Full-Time
  • ·
  • Online
  • Concentrations: 13
  • Accounting
  • Corporate Finance
  • Data Analytics
  • Finance
  • General Business
  • Global Management
  • Healthcare Administration
  • Information Systems
  • International Business
  • Law
  • Management
  • Other
  • Taxation
  • Rankings
  • City Rank: 1
  • State Rank: 1
  • National Rank: 2
  • Online Rank: 2
  • Best in:
  • Best MBA or Masters Program in Indiana
  • Best Online Concentration Finance Online
  • Best Online MBA or Masters in Indiana
  • Best MBA or Masters Most Respected Online MBA Programs
  • Best Concentration Finance
  • More...
  • Less...

University of Notre Dame

University of Notre Dame Mendoza College of Business

Mendoza College of Business

Location:

  • Notre Dame

,

  • IN

Control: Private

Academic Year: Semester

Accredited: AACSB

Accreditation: Business and Accounting

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  • Tuition: $123,500
  • Graduate Salary: $133,018
  • Graduate ROI: 8%
  • GMAT Required: Yes
  • Avg. GMAT: 673
  • Student / Faculty Ratio: 11:1
  • Enrollment: 3,216

Degree Level(s):

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

Offered As:

  • 1-Year
  • ·
  • Campus
  • ·
  • Evenings
  • ·
  • Full-Time
  • ·
  • Part-Time
  • ·
  • Partnership
  • ·
  • Weekends
  • Concentrations: 12
  • Accounting
  • Corporate Finance
  • Data Analytics
  • Energy
  • Finance
  • Information Systems
  • Management
  • Marketing
  • Other
  • Quantitative Methods
  • Science and Technology
  • Supply Chain
  • Rankings
  • City Rank: 1
  • State Rank: 2
  • National Rank: 46
  • Online Rank: Not Ranked
  • Best in:
  • Best MBA or Masters Program in Indiana
  • BBA All BBA in Accounting
  • Masters All or Campus Masters Leadership
  • Best Concentration Quantitative Methods
  • Best Concentration Energy
  • More...
  • Less...

Indiana State University

Indiana State University

Scott College of Business

Location:

  • Terre Haute

,

  • IN

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

Facebook, Linkedin and Twitter
  • Tuition: $19,000
  • Graduate Salary: $82,000
  • Graduate ROI: 332%
  • GMAT Required: Yes
  • Avg. GMAT: 685
  • Student / Faculty Ratio: 18:1
  • Enrollment: 1,093

Degree Level(s):

  • MBA
  • ·
  • Undergraduate

Offered As:

  • Campus
  • ·
  • Evenings
  • ·
  • Full-Time
  • ·
  • Online
  • ·
  • Part-Time
  • ·
  • Weekends
  • Concentrations: 10
  • Accounting
  • Corporate Finance
  • Education
  • Finance
  • General Business
  • Information Systems
  • Insurance
  • Management
  • Marketing
  • Operations Management
  • Rankings
  • City Rank: 1
  • State Rank: 3
  • National Rank: 76
  • Online Rank: 46
  • Best in:
  • Best MBA Programs
  • Most Affordable Online MBA or Masters in Indiana
  • Most Affordable Online MBA or Masters in Most Affordable Online MBA
  • Best MBA or Masters Program in Indiana
  • Best Online MBA or Masters in Indiana
  • More...
  • Less...

Purdue University

Mitchell E. Daniels School of Business

Location:

  • West Lafayette

,

  • IN

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

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  • Tuition: $44,816
  • Graduate Salary: $94,000
  • Graduate ROI: 110%
  • GMAT Required: Yes
  • Avg. GMAT: 634
  • Student / Faculty Ratio: 13:1
  • Enrollment: 4,524

Degree Level(s):

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

Offered As:

  • 1-Year
  • ·
  • Campus
  • ·
  • Distance Education
  • ·
  • Full-Time
  • ·
  • Online
  • ·
  • Part-Time
  • Concentrations: 9
  • Corporate Finance
  • Data Analytics
  • Finance
  • Global Management
  • Human Resources
  • Information Systems
  • Leadership
  • Marketing
  • Project Management
  • Rankings
  • City Rank: 1
  • State Rank: 4
  • National Rank: 95
  • Online Rank: 63
  • Best in:
  • Best Online MBA or Masters in Indiana
  • Best Concentration Project Management

Purdue University Northwest

Purdue University Northwest College of Business

College of Business

Location:

  • Hammond

,

  • IN

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

  • Tuition: $12,350
  • Graduate Salary: $87,100
  • Graduate ROI: 605%
  • GMAT Required: No
  • Avg. GMAT: 610
  • Student / Faculty Ratio: 15:1
  • Enrollment: 966

Degree Level(s):

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

Offered As:

  • Campus
  • ·
  • Full-Time
  • Concentrations: 10
  • Accounting
  • Corporate Finance
  • Data Analytics
  • Finance
  • General Business
  • Hospitality Management
  • Human Resources
  • Management
  • Marketing
  • Other
  • Rankings
  • City Rank: 1
  • State Rank: 5
  • National Rank: 99
  • Online Rank: Not Ranked
  • Best in:
  • Most Affordable Online MBA or Masters in Most Affordable Online MBA
  • Best MBA or Masters Program in Indiana
  • Masters All or Campus Business Analytics

Purdue University Calumet

Purdue University Calumet College of Business

College of Business

Location:

  • Hammond

,

  • IN

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation:

Facebook, Linkedin and Twitter
  • Tuition: $12,350
  • Graduate Salary: $87,100
  • Graduate ROI: Not Reported
  • GMAT Required: No
  • Avg. GMAT: 610
  • Student / Faculty Ratio: 14:1
  • Enrollment: 955

Degree Level(s):

Offered As:

  • Evenings
  • ·
  • Full-Time
  • ·
  • Part-Time
  • ·
  • Weekends
  • Concentrations: 0
  • Rankings
  • City Rank: 2
  • State Rank: 6
  • National Rank: 109
  • Online Rank: Not Ranked
  • Best in:
  • Most Affordable Online MBA or Masters in Most Affordable Online MBA
  • Best MBA or Masters Program in Indiana

Ball State University

Ball State University Miller College of Business

The Miller College of Business

Location:

  • Muncie

,

  • IN

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business and Accounting

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  • Tuition: $21,197
  • Graduate Salary: $76,400
  • Graduate ROI: 260%
  • GMAT Required: Optional
  • Avg. GMAT: 640
  • Student / Faculty Ratio: 17:1
  • Enrollment: 2,425

Degree Level(s):

  • Master
  • ·
  • MBA
  • ·
  • Undergraduate

Offered As:

  • Campus
  • ·
  • Full-Time
  • ·
  • Online
  • Concentrations: 16
  • Accounting
  • Corporate Finance
  • Economics
  • Entrepreneurship
  • Finance
  • General Business
  • Global Management
  • Human Resources
  • Information Systems
  • Insurance
  • International Business
  • Management
  • Marketing
  • Other
  • Quantitative Methods
  • Supply Chain
  • Rankings
  • City Rank: 1
  • State Rank: 7
  • National Rank: 134
  • Online Rank: 93
  • Best in:
  • Most Affordable Online MBA or Masters in Indiana
  • Best MBA or Masters Program in Indiana
  • Best Online MBA or Masters in Indiana
  • Best MBA or Masters 10 Most Respected and Affordable Online MBA Programs
  • Best Online Concentration Quantitative Methods
  • More...
  • Less...

Indiana University Bloomington

Indiana University Bloomington Kelley School of Business

Kelley School of Business

Location:

  • Bloomington

,

  • IN

Control:

Academic Year: Semester

Accredited: AACSB

Accreditation:

  • Tuition: $62,688
  • Graduate Salary: $117,400
  • Graduate ROI: Not Reported
  • GMAT Required: Yes
  • Avg. GMAT: 685
  • Student / Faculty Ratio: 17:1
  • Enrollment: 15,872

Degree Level(s):

Offered As:

  • Concentrations: 0
  • Rankings
  • City Rank: 2
  • State Rank: 8
  • National Rank: 148
  • Online Rank: Not Ranked
  • Best in:
  • Best MBA or Masters Program in Indiana

Butler University

Butler University Andre B. Lacy School of Business

Andre B. Lacy School of Business

Location:

  • Indianapolis

,

  • IN

Control: Private

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

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  • Tuition: $39,000
  • Graduate Salary: $59,000
  • Graduate ROI: 51%
  • GMAT Required: No
  • Avg. GMAT: 622
  • Student / Faculty Ratio: 12:1
  • Enrollment: 1,368

Degree Level(s):

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

Offered As:

  • Campus
  • ·
  • Evenings
  • ·
  • Full-Time
  • ·
  • Online
  • ·
  • Part-Time
  • ·
  • Weekends
  • Concentrations: 11
  • Accounting
  • Corporate Finance
  • Economics
  • Entrepreneurship
  • Finance
  • Global Management
  • Information Systems
  • Insurance
  • International Business
  • Management
  • Marketing
  • Rankings
  • City Rank: 1
  • State Rank: 9
  • National Rank: 207
  • Online Rank: 144
  • Best in:
  • Most Affordable Online MBA or Masters in Indiana
  • Best MBA or Masters Program in Indiana
  • Best Online MBA or Masters in Indiana

Valparaiso University

Valparaiso University College of Business

College of Business

Location:

  • Valparaiso

,

  • IN

Control: Private

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

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  • Tuition: $30,000
  • Graduate Salary: $64,840
  • Graduate ROI: 116%
  • GMAT Required: Optional
  • Avg. GMAT: 610
  • Student / Faculty Ratio: 11:1
  • Enrollment: 392

Degree Level(s):

  • MBA
  • ·
  • Undergraduate

Offered As:

  • 1-Year
  • ·
  • Campus
  • ·
  • Evenings
  • ·
  • Full-Time
  • ·
  • Online
  • ·
  • Part-Time
  • ·
  • Partnership
  • ·
  • Weekends
  • Concentrations: 8
  • Data Analytics
  • Engineering
  • Finance
  • General Business
  • Healthcare Administration
  • Management
  • Marketing
  • Supply Chain
  • Rankings
  • City Rank: 1
  • State Rank: 10
  • National Rank: 221
  • Online Rank: 155
  • Best in:
  • Most Affordable Online MBA or Masters in Indiana
  • Most Affordable Online MBA or Masters in Most Affordable Online MBA
  • Best MBA or Masters Program in Indiana
  • Best Online MBA or Masters in Indiana
  • Best Concentration Engineering
  • More...
  • Less...

Indiana University South Bend

Indiana University South Bend Judd Leighton School of Business and Economics

Judd Leighton School of Business and Economics

Location:

  • South Bend

,

  • IN

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

Facebook, Linkedin and Twitter
  • Tuition: $7,458
  • Graduate Salary: $60,300
  • Graduate ROI: 709%
  • GMAT Required: Yes
  • Avg. GMAT: 600
  • Student / Faculty Ratio: 17:1
  • Enrollment: 817

Degree Level(s):

  • MBA
  • ·
  • Undergraduate

Offered As:

  • Campus
  • ·
  • Evenings
  • ·
  • Full-Time
  • ·
  • Online
  • ·
  • Part-Time
  • ·
  • Weekends
  • Concentrations: 11
  • Accounting
  • Corporate Finance
  • Economics
  • Finance
  • General Business
  • Healthcare Administration
  • Human Resources
  • Information Systems
  • Management
  • Marketing
  • Other
  • Rankings
  • City Rank: 1
  • State Rank: 11
  • National Rank: 238
  • Online Rank: 171
  • Best in:
  • Most Affordable Online MBA or Masters in Indiana
  • Best MBA or Masters Program in Indiana
  • Best Online MBA or Masters in Indiana
  • Most Affordable MBA or Masters Program 10 Most Affordable Campus MBA Programs

Indiana University Southeast

Indiana University Southeast School of Business

School of Business

Location:

  • New Albany

,

  • IN

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

Facebook, Linkedin and Twitter
  • Tuition: $17,905
  • Graduate Salary: $64,650
  • Graduate ROI: 261%
  • GMAT Required: Yes
  • Avg. GMAT: 570
  • Student / Faculty Ratio: 12:1
  • Enrollment: 749

Degree Level(s):

  • Master
  • ·
  • MBA
  • ·
  • Undergraduate

Offered As:

  • Campus
  • ·
  • Evenings
  • ·
  • Full-Time
  • ·
  • Online
  • ·
  • Part-Time
  • ·
  • Weekends
  • Concentrations: 6
  • Accounting
  • Data Analytics
  • Finance
  • General Business
  • Human Resources
  • Management
  • Rankings
  • City Rank: 1
  • State Rank: 12
  • National Rank: 273
  • Online Rank: 198
  • Best in:
  • Most Affordable Online MBA or Masters in Indiana
  • Best Online MBA or Masters in Indiana
  • Masters All or Campus Masters in Finance
  • Masters All or Campus Master Accounting
  • Masters All or Campus Masters in Economics
  • More...
  • Less...

Purdue University Fort Wayne

Indiana University-Purdue University Fort Wayne Richard T. Doermer School of Business

Richard T. Doermer School of Business

Location:

  • Fort Wayne

,

  • IN

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

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  • Tuition: $16,756
  • Graduate Salary: $77,400
  • Graduate ROI: 362%
  • GMAT Required: No
  • Avg. GMAT: 530
  • Student / Faculty Ratio: 14:1
  • Enrollment: 1,030

Degree Level(s):

  • MBA
  • ·
  • Undergraduate

Offered As:

  • Campus
  • ·
  • Evenings
  • ·
  • Online
  • ·
  • Part-Time
  • ·
  • Weekends
  • Concentrations: 8
  • Accounting
  • Corporate Finance
  • Economics
  • Finance
  • General Business
  • Hospitality Management
  • Management
  • Other
  • Rankings
  • City Rank: 1
  • State Rank: 13
  • National Rank: 307
  • Online Rank: 224
  • Best in:
  • Most Affordable Online MBA or Masters in Indiana
  • Best Online MBA or Masters in Indiana

Indiana University Kokomo

Indiana University Kokomo School of Business

School of Business

Location:

  • Kokomo

,

  • IN

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

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  • Tuition: $13,563
  • Graduate Salary: $66,900
  • Graduate ROI: 393%
  • GMAT Required: Yes
  • Avg. GMAT: 531
  • Student / Faculty Ratio: 16:1
  • Enrollment: 527

Degree Level(s):

  • Master
  • ·
  • MBA
  • ·
  • Undergraduate

Offered As:

  • Campus
  • ·
  • Evenings
  • ·
  • Full-Time
  • ·
  • Online
  • ·
  • Part-Time
  • ·
  • Weekends
  • Concentrations: 7
  • Accounting
  • Corporate Finance
  • Finance
  • General Business
  • Human Resources
  • Management
  • Marketing
  • Rankings
  • City Rank: 1
  • State Rank: 14
  • National Rank: 421
  • Online Rank: 311
  • Best in:
  • Most Affordable Online MBA or Masters in Indiana

University of Southern Indiana

University of Southern Indiana Romain College of Business

Romain College of Business

Location:

  • Evansville

,

  • IN

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business and Accounting

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  • Tuition: $12,900
  • Graduate Salary: $65,700
  • Graduate ROI: 409%
  • GMAT Required: Yes
  • Avg. GMAT: 528
  • Student / Faculty Ratio: 22:1
  • Enrollment: 2,029

Degree Level(s):

  • MBA
  • ·
  • Undergraduate

Offered As:

  • Campus
  • ·
  • Evenings
  • ·
  • Full-Time
  • ·
  • Online
  • ·
  • Part-Time
  • ·
  • Weekends
  • Concentrations: 7
  • Accounting
  • Corporate Finance
  • Engineering
  • Finance
  • General Business
  • Information Systems
  • Management
  • Marketing
  • Rankings
  • City Rank: 1
  • State Rank: 15
  • National Rank: 439
  • Online Rank: 326
  • Best in:
  • Most Affordable Online MBA or Masters in Indiana

Indiana University Northwest

Indiana University Northwest School of Business and Economics

School of Business and Economics

Location:

  • Gary

,

  • IN

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

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  • Tuition: $7,458
  • Graduate Salary: $75,000
  • Graduate ROI: 906%
  • GMAT Required: No
  • Avg. GMAT: 458
  • Student / Faculty Ratio: 12:1
  • Enrollment: 409

Degree Level(s):

  • Master
  • ·
  • MBA
  • ·
  • Undergraduate

Offered As:

  • Campus
  • ·
  • Evenings
  • ·
  • Full-Time
  • ·
  • Online
  • ·
  • Part-Time
  • ·
  • Weekends
  • Concentrations: 8
  • Accounting
  • Corporate Finance
  • Economics
  • Finance
  • General Business
  • Leadership
  • Management
  • Marketing
  • Rankings
  • City Rank: 1
  • State Rank: 16
  • National Rank: 468
  • Online Rank: 351
  • Best in:
  • Most Affordable Online MBA or Masters in Indiana
  • Most Affordable MBA or Masters Program 10 Most Affordable Campus MBA Programs
  • Masters All or Campus Masters in Finance

University of Evansville

University of Evansville The Schroeder Family School of Business Administration

The Schroeder Family School of Business Administration

Location:

  • Evansville

,

  • IN

Control: Private

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

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  • Tuition: not reported
  • Graduate Salary: Not Reported by School
  • Graduate ROI: 0%
  • GMAT Required: Optional
  • Avg. GMAT:
  • Student / Faculty Ratio: 8:1
  • Enrollment: 208

Degree Level(s):

  • Undergraduate

Offered As:

  • Campus
  • ·
  • Full-Time
  • ·
  • Online
  • Concentrations: 1
  • Science and Technology
  • Rankings
  • City Rank: 2
  • State Rank: 17
  • National Rank: 529
  • Online Rank: 397
  • Best in:
  • Best Online MBA or Masters in Indiana

Anderson University

Anderson University Anderson University - Falls School of Business

Anderson University - Falls School of Business

Location:

,

  • IN

Control:

Academic Year:

Accredited: AACSB

Accreditation:

  • Tuition: not reported
  • Graduate Salary: Not Reported by School
  • Graduate ROI: Not Reported
  • GMAT Required:
  • Avg. GMAT:
  • Student / Faculty Ratio: :1
  • Enrollment: Not Reported

Degree Level(s):

Offered As:

  • Concentrations: 6
  • Accounting
  • Finance
  • Leadership
  • Management
  • Marketing
  • Project Management
  • Rankings
  • City Rank: 28
  • State Rank: 18
  • National Rank: 582
  • Online Rank: Not Ranked
  • Best in:

University of Saint Francis

University of Saint Francis School of Business

School of Business

Location:

  • Fort Wayne

,

  • IN

Control:

Academic Year:

Accredited: AACSB

Accreditation:

  • Tuition: not reported
  • Graduate Salary: Not Reported by School
  • Graduate ROI: Not Reported
  • GMAT Required:
  • Avg. GMAT:
  • Student / Faculty Ratio: :1
  • Enrollment: Not Reported

Degree Level(s):

Offered As:

  • Concentrations: 5
  • Economics
  • Information Systems
  • Marketing
  • Organizational Behavior
  • Sustainability
  • Rankings
  • City Rank: 2
  • State Rank: 19
  • National Rank: 607
  • Online Rank: Not Ranked
  • Best in:

University of Indianapolis

University of Indianapolis School of Business

School of Business

Location:

  • Indianapolis

,

  • IN

Control:

Academic Year:

Accredited: AACSB

Accreditation:

  • Tuition: not reported
  • Graduate Salary: Not Reported by School
  • Graduate ROI: Not Reported
  • GMAT Required:
  • Avg. GMAT:
  • Student / Faculty Ratio: :1
  • Enrollment: Not Reported

Degree Level(s):

Offered As:

  • Concentrations: 3
  • Accounting
  • Information Systems
  • Science and Technology
  • Rankings
  • City Rank: 2
  • State Rank: 20
  • National Rank: 645
  • Online Rank: Not Ranked
  • Best in:

Bethel College

Bethel College College of Business

College of Business

Location:

,

  • IN

Control:

Academic Year:

Accredited: AACSB

Accreditation:

  • Tuition: not reported
  • Graduate Salary: Not Reported by School
  • Graduate ROI: Not Reported
  • GMAT Required:
  • Avg. GMAT:
  • Student / Faculty Ratio: :1
  • Enrollment: Not Reported

Degree Level(s):

Offered As:

  • Concentrations: 0
  • Rankings
  • City Rank: 85
  • State Rank: 21
  • National Rank: 745
  • Online Rank: Not Ranked
  • Best in:

Taylor University

Taylor University School of Business

School of Business

Location:

  • Fort Wayne

,

  • IN

Control:

Academic Year:

Accredited: AACSB

Accreditation:

  • Tuition: not reported
  • Graduate Salary: Not Reported by School
  • Graduate ROI: Not Reported
  • GMAT Required:
  • Avg. GMAT:
  • Student / Faculty Ratio: :1
  • Enrollment: Not Reported

Degree Level(s):

Offered As:

  • Concentrations: 6
  • Accounting
  • Entrepreneurship
  • Finance
  • International Business
  • Marketing
  • Science and Technology
  • Rankings
  • City Rank: 3
  • State Rank: 22
  • National Rank: 856
  • Online Rank: Not Ranked
  • Best in:

Oakland City University

Oakland City University School of Business

School of Business

Location:

,

  • IN

Control:

Academic Year:

Accredited: AACSB

Accreditation:

  • Tuition: not reported
  • Graduate Salary: Not Reported by School
  • Graduate ROI: Not Reported
  • GMAT Required:
  • Avg. GMAT:
  • Student / Faculty Ratio: :1
  • Enrollment: Not Reported

Degree Level(s):

Offered As:

  • Concentrations: 2
  • International Business
  • Management
  • Rankings
  • City Rank: 145
  • State Rank: 23
  • National Rank: 857
  • Online Rank: Not Ranked
  • Best in:

Indiana Wesleyan University

Indiana Wesleyan University School of Business

School of Business

Location:

,

  • IN

Control:

Academic Year:

Accredited: AACSB

Accreditation:

  • Tuition: not reported
  • Graduate Salary: Not Reported by School
  • Graduate ROI: Not Reported
  • GMAT Required:
  • Avg. GMAT:
  • Student / Faculty Ratio: :1
  • Enrollment: Not Reported

Degree Level(s):

Offered As:

  • Concentrations: 0
  • Rankings
  • City Rank: 146
  • State Rank: 24
  • National Rank: 858
  • Online Rank: Not Ranked
  • Best in:

Compare MBA Program Averages in 2025
Indiana, the U.S. and Online

 AveragesIndiana MBA ProgramsOnline MBA ProgramsMBA Programs Nationwide
Average MBA Tuition$28,248 $37,167$42,528
Average Graduate Salary$81,619$79,354 $82,899
Average ROI332%196%185%
Average GMAT Scores598561567

What is the Average Tuition for MBA Programs in Indiana?


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 Indiana will cost about $28,248, the least expensive MBA program is $7,458 from Indiana University Northwest, and the most expensive is $123,500 from University of Notre Dame.

An Online MBA program from an institution in Indiana will cost you between $7,458 from Indiana University Northwest and $44,816 from Purdue University. The average cost of online MBA programs within Indiana is $21,636.

Average Tuition for In-Person MBA Programs

Average: $28,248 from Indiana’s 14 in-person MBA Programs
Lowest in-person: $7,458 from Indiana University Northwest
Highest in-person: $123,500 from University of Notre Dame

Most Affordable MBAs in Indiana

  1. Indiana University South Bend - $7,458.00
  2. Indiana University Northwest - $7,458.00
  3. Purdue University Northwest - $12,350.00
  4. University of Southern Indiana - $12,900.00
  5. Indiana University Kokomo - $13,563.00
  6. Purdue University Fort Wayne - $16,756.00
  7. Indiana University Southeast - $17,905.00
  8. Indiana State University - $19,000.00
  9. Ball State University - $21,197.00
  10. Indiana University Bloomington/Indianapolis - $29,573.00

Most Expensive MBAs in Indiana

  1. University of Notre Dame - $123,500.00
  2. Purdue University - $44,816.00
  3. Butler University - $39,000.00
  4. Valparaiso University - $30,000.00
  5. Indiana University Bloomington/Indianapolis - $29,573.00
  6. Ball State University - $21,197.00
  7. Indiana State University - $19,000.00
  8. Indiana University Southeast - $17,905.00
  9. Purdue University Fort Wayne - $16,756.00
  10. Indiana University Kokomo - $13,563.00

What is the Average Graduate MBA Salary in Indiana?

While the average starting salary for graduates of an in-person MBA program in Indiana is about $81,619, the lowest average MBA starting salary is $59,000 from Butler University, and the highest average MBA starting salary is $136,352 from Indiana University Bloomington/Indianapolis.

The average starting salary for graduates of an Online MBA program from an institution in Indiana is between $59,000 from Butler University and $136,352 from Indiana University Bloomington/Indianapolis. The average starting MBA salary for graduates of online MBA programs within Indiana is $76,879.

Average Graduate Salaries for In-Person MBA Programs

  • Average: $81,619 from Indiana’s 14 In-Person MBA Programs
  • Lowest In-Person: $59,000 from Butler University
  • Highest In-Person:$136,352 from Indiana University Bloomington/Indianapolis

Schools with the Highest Graduate MBA Salaries in Indiana

  1. Indiana University Bloomington/Indianapolis - $136,352.00
  2. University of Notre Dame - $133,018.00
  3. Purdue University - $94,000.00
  4. Purdue University Northwest - $87,100.00
  5. Indiana State University - $82,000.00
  6. Purdue University Fort Wayne - $77,400.00
  7. Ball State University - $76,400.00
  8. Indiana University Northwest - $75,000.00
  9. Indiana University Kokomo - $66,900.00
  10. University of Southern Indiana - $65,700.00

Schools with the Lowest Graduate MBA Salaries in Indiana

  1. Butler University - $59,000.00
  2. Indiana University South Bend - $60,300.00
  3. Indiana University Southeast - $64,650.00
  4. Valparaiso University - $64,840.00
  5. University of Southern Indiana - $65,700.00
  6. Indiana University Kokomo - $66,900.00
  7. Indiana University Northwest - $75,000.00
  8. Ball State University - $76,400.00
  9. Purdue University Fort Wayne - $77,400.00
  10. Indiana State University - $82,000.00

What is the Average ROI for MBA Programs in Indiana?

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 Indiana is 332%, the lowest ROI is 8% from University of Notre Dame, and the best ROI is 906% from Indiana University Northwest.

The ROI from Online MBA programs in Indiana range between 51% from Butler University and 906% from Indiana University Northwest. The average ROI of online MBA programs within Indiana is 336%.

In-Person ROI for MBA Programs

  • Average: 332% from Indiana’s 14 in-person MBA Programs
  • Lowest in-person: 8% from University of Notre Dame
  • Highest in-person: 906% from Indiana University Northwest

Highest ROI for MBA Programs in Indiana

  1. Indiana University Northwest - 906.00%
  2. Indiana University South Bend - 709.00%
  3. Purdue University Northwest - 605.00%
  4. University of Southern Indiana - 409.00%
  5. Indiana University Kokomo - 393.00%
  6. Purdue University Fort Wayne - 362.00%
  7. Indiana State University - 332.00%
  8. Indiana University Southeast - 261.00%
  9. Ball State University - 260.00%
  10. Indiana University Bloomington/Indianapolis - 124.00%

Lowest ROI for MBA Programs in Indiana

  1. University of Notre Dame - 8.00%
  2. Butler University - 51.00%
  3. Purdue University - 110.00%
  4. Valparaiso University - 116.00%
  5. Indiana University Bloomington/Indianapolis - 124.00%
  6. Ball State University - 260.00%
  7. Indiana University Southeast - 261.00%
  8. Indiana State University - 332.00%
  9. Purdue University Fort Wayne - 362.00%
  10. Indiana University Kokomo - 393.00%

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

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 Indiana is 598, the lowest average GMAT score is for an MBA program is 458 from Indiana University Northwest, and the highest GMAT score needed is 685 from Indiana University Bloomington/Indianapolis.

The average GMAT score needed for an online MBA program from an institution in Indiana is between 458 from Indiana University Northwest to 685 from Indiana University Bloomington/Indianapolis. The average GMAT scored for online MBA programs within Indiana is 591.

Average GMAT Score for In-Person MBA Programs

  • Average: 598 from Indiana’s 14 in-person MBA Programs
  • Lowest in-person: 458 from Indiana University Northwest
  • Highest in-person: 685 from Indiana University Bloomington/Indianapolis

Lowest GMAT Scores in Indiana

  1. Indiana University Northwest - 458
  2. University of Southern Indiana - 528
  3. Purdue University Fort Wayne - 530
  4. Indiana University Kokomo - 531
  5. Indiana University Southeast - 570
  6. Indiana University South Bend - 600
  7. Purdue University Northwest - 610
  8. Valparaiso University - 610
  9. Butler University - 622
  10. Purdue University - 634

Highest GMAT Scores in Indiana

  1. Indiana University Bloomington/Indianapolis - 685
  2. Indiana State University - 685
  3. University of Notre Dame - 673
  4. Ball State University - 640
  5. Purdue University - 634
  6. Butler University - 622
  7. Purdue University Northwest - 610
  8. Valparaiso University - 610
  9. Indiana University South Bend - 600
  10. Indiana University Southeast - 570

No GMAT or GRE – Best MBA Programs in Indiana

Rank University GMAT Online College Name Based In
1 Purdue University Northwest No No College of Business Hammond, IN
2 Ball State University Optional Yes The Miller College of Business Muncie, IN
3 Butler University No Yes Andre B. Lacy School of Business Indianapolis, IN
4 Valparaiso University Optional Yes College of Business Valparaiso, IN
5 Purdue University Fort Wayne No Yes Richard T. Doermer School of Business Fort Wayne, IN
6 Indiana University Northwest No Yes School of Business and Economics Gary, IN

MBA Schools with the Most Alumni Indiana?

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 Indiana state’s MBA programs, the range for full-time enrollment is between 10 and 1,191. For part-time enrollment, the range is between : 42.00 and : 1,430.00.

Average Enrollment for In-Person MBA Programs

  • Lowest: 10 from Indiana University Northwest
  • Highest: 1,191 from Indiana University Bloomington/Indianapolis
  • Average: 337 from Indiana’s 14 MBA Programs.
  • Average: 296 from 511 the nation’s campus MBA Programs.

Schools with the Lowest Student Enrollment in Indiana

  1. Indiana University Bloomington/Indianapolis - 1,191
  2. University of Notre Dame - 830
  3. University of Southern Indiana - 635
  4. Purdue University - 476
  5. Indiana University Kokomo - 63
  6. Indiana State University - 61
  7. Purdue University Fort Wayne - 49
  8. Butler University - 42
  9. Indiana University South Bend - 17
  10. Indiana University Northwest - 10

MBA Programs with the Highest Student Enrollment in Indiana

  1. Indiana University Northwest - 10
  2. Indiana University South Bend - 17
  3. Butler University - 42
  4. Purdue University Fort Wayne - 49
  5. Indiana State University - 61
  6. Indiana University Kokomo - 63
  7. Purdue University - 476
  8. University of Southern Indiana - 635
  9. University of Notre Dame - 830
  10. Indiana University Bloomington/Indianapolis - 1,191

What MBA Concentrations Available in Indiana?

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 Indiana businesses, MBA programs here have risen to the challenge by offering you an array of more than 28 MBA concentrations including:

  • Finance: 14
  • Management: 13
  • Accounting: 12
  • Corporate Finance: 12
  • Marketing: 11
  • General Business: 11
  • Information Systems: 8
  • Human Resources: 6
  • Other: 6
  • Data Analytics: 6

What Schools Offer the Widest Variety of MBA Concentrations in Indiana?

  • Ball State University: 16
  • Indiana University Bloomington/Indianapolis: 13
  • University of Notre Dame: 12
  • Butler University: 11
  • Indiana University South Bend: 11
  • Indiana State University: 10
  • Purdue University Northwest: 10
  • Purdue University: 9
  • University of Southern Indiana: 8
  • Indiana University Northwest: 8

Cities Offering MBA Programs in Indiana

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

  • Bloomington
  • Evansville
  • Fort Wayne
  • Gary
  • Hammond
  • Indianapolis
  • Kokomo
  • Muncie
  • New Albany
  • Notre Dame
  • South Bend
  • Terre Haute
  • Valparaiso
  • West Lafayette

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.

MBA Program Options Available in Indiana

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

Indiana has 14 Accredited MBA programs. 0 private and 11 public schools offering MBA programs.

Indiana has 11 public schools and 0 private schools offering MBA degree programs.

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

Indiana schools offer 9 different paths to earn your MBA in Indiana including Campus, Full-Time, Online, Part-Time, Evenings, Weekends, 1-Year, Distance Education and Partnership.

To meet the diverse needs of Indiana businesses, MBA programs here have risen to the challenge by offering you an array of more than 28 MBA concentrations to specialize in.

Awards for MBA Programs in Indiana

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 14 accredited MBA programs offered in Indiana, 13 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.

Indiana schools have earned a total of 31 Best MBA awards from publications. Here are the top MBA schools and the number of awards the each program has garnered:

  • Purdue University: 7
  • Indiana University Bloomington/Indianapolis: 7
  • University of Notre Dame: 7
  • University of Southern Indiana: 1
  • Indiana University Southeast: 1
  • Indiana University Northwest: 1
  • Indiana University Kokomo: 1
  • Butler University: 1
  • Ball State University: 1
  • Indiana University South Bend: 1
  • Indiana State University: 1
  • Valparaiso University: 1
  • Purdue University Fort Wayne: 1

Publications and the number of awards granted for Indiana schools:

  • MBAGuide: 13
  • US News: 3
  • Forbes: 3
  • BW: 3
  • FT: 3
  • Economist: 3

How We Rank the Best MBA Programs in Indiana

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 State: Online and In-Person

Alabama – Online | In-Person
Alaska – Online | In-Person
Arizona – Online | In-Person
Arkansas – Online | In-Person
California – Online | In-Person
Colorado – Online | In-Person
Connecticut – Online | In-Person
Delaware – Online | In-Person
Florida – Online | In-Person
Georgia – Online | In-Person
Hawaii – Online | In-Person
Idaho – Online | In-Person
Illinois – Online | In-Person
Indiana – Online | In-Person
Iowa – Online | In-Person
Kansas – Online | In-Person
Kentucky – Online | In-Person

Louisiana – Online | In-Person
Maine – Online | In-Person
Maryland – Online | In-Person
Massachusetts – Online | In-Person
Michigan – Online | In-Person
Minnesota – Online | In-Person
Mississippi – Online | In-Person
Missouri – Online | In-Person
Montana – Online | In-Person
Nebraska – Online | In-Person
Nevada – Online | In-Person
New Hampshire – Online | In-Person
New Jersey – Online | In-Person
New Mexico – Online | In-Person
New York – Online | In-Person
North Carolina – Online | In-Person
North Dakota – Online | In-Person

Ohio – Online | In-Person
Oklahoma – Online | In-Person
Oregon – Online | In-Person
Pennsylvania – Online | In-Person
Rhode Island – Online | In-Person
South Carolina – Online | In-Person
South Dakota – Online | In-Person
Tennessee – Online | In-Person
Texas – Online | In-Person
Utah – Online | In-Person
Vermont – Online | In-Person
Virginia – Online | In-Person
Washington – Online | In-Person
West Virginia – Online | In-Person
Wisconsin – Online | In-Person
Wyoming – Online | In-Person
District of Columbia – Online | In-Person

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 Indiana | Online MBA Programs in Indiana 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

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      MBA Program Rankings and Reports for All 50 States

  • Concentrations
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      • Finance – 430
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      • Intl Business – 210
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      • Healthcare Admin – 144
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      Best Graduate Salary

      • Business Analytics – $104,000
      • Consulting – $115,277
      • Energy – $92,959
      • E-Commerce – $94,850
      • Law – $90,536
      • Leadership – $88,232
      • Operations Mgmt – $92,419
      • Insurance – $80,528
      • Org. Behavior – $107,961
      • Real Estate – $97,485
      • Sports Mgmt – $78,406
      • Statistics – $103,112
      • Healthcare Mgmt – $85,206
      • Taxation –  $121,750

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