2024 Best MBA Programs in Minnesota

Compare MBA Program Averages Across
Minnesota, the U.S. and Online

Averages	Minnesota MBA Programs	Online MBA Programs	MBA Programs in the US
Average MBA Tuition	$44,597	$38,875	: $43,475.55
Average GMAT Scores	: 576.57	557	561
Average Full-Time MBA Faculty	56	69	67
Average MBA Student Faculty Ratio	18:1	: 17:1	16:1
Average # of MBA Faculty with Doctorate	85.82%	83.35%	83.95%
Average Full-Time MBA Enrollment	109	298	286
Average Part-Time MBA Enrollment	287	387	351
Average % of MBA Students from U.S.	82%	76%	75%

What Are the Best Ranked MBA Programs in Minnesota

Read about our ranking methodology.

What is the Average Graduate MBA Salary in Minnesota?

While the average starting salary for graduates of an in-person MBA program in Minnesota is about $86,736, the lowest average MBA starting salary is $62,850 from Winona State University, and the highest average MBA starting salary is $121,882 from University of Minnesota.

The average starting salary for graduates of an Online MBA program from an institution in Minnesota is between $68,784 from Capella University and $121,882 from University of Minnesota. The average starting MBA salary for graduates of online MBA programs within Minnesota is $89,681.

Average Graduate Salaries for In-Person MBA Programs

• Average: $89,301 from Minnesota’s 7 In-Person MBA Programs
• Lowest In-Person: $62,850 from Winona State University
• Highest In-Person:$121,882 from University of Minnesota

Average Graduate Salaries for Online MBA Programs

• Average: $89,681 from Minnesota’s 6 Online MBA Programs
• Lowest Online: $68,784 from Capella University
• Highest Online: $121,882 from University of Minnesota

10 Highest Salaries for MBA Graduates in Minnesota

1. University of Minnesota - $121,882.00
2. University of St. Thomas-Minnesota - $102,900.00
3. University of Minnesota Duluth - $92,953.00
4. Minnesota State University Moorhead - $85,000.00
5. St. Cloud State University - $81,800.00
6. Minnesota State University, Mankato - $77,720.00
7. Capella University - $68,784.00
8. Winona State University - $62,850.00

10 Lowest Salaries for MBA Graduates in Minnesota

1. Winona State University - $62,850.00
2. Capella University - $68,784.00
3. Minnesota State University, Mankato - $77,720.00
4. St. Cloud State University - $81,800.00
5. Minnesota State University Moorhead - $85,000.00
6. University of Minnesota Duluth - $92,953.00
7. University of St. Thomas-Minnesota - $102,900.00
8. University of Minnesota - $121,882.00

What is the Average Tuition for MBA Programs in Minnesota?

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 Minnesota will cost about $44,597, the least expensive MBA program is $26,220 from Minnesota State University Moorhead, and the most expensive is $89,402 from University of Minnesota.

An Online MBA program from an institution in Minnesota will cost you between $26,220 from Minnesota State University Moorhead and $89,402 from University of Minnesota. The average cost of online MBA programs within Minnesota is $48,197.

Average Tuition for In-Person MBA Programs

Average: $44,597 from Minnesota’s 7 in-person MBA Programs
Lowest in-person: $26,220 from Minnesota State University Moorhead
Highest in-person: $89,402 from University of Minnesota

Average Tuition for Online MBA Programs

Average: $48,197 from Minnesota’s 6 online MBA Programs
Lowest online: $26,220 from Minnesota State University Moorhead
Highest online: $89,402 from University of Minnesota

Most Affordable MBAs in Minnesota

1. Minnesota State University Moorhead - $26,220.00
2. St. Cloud State University - $28,969.00
3. University of Minnesota Duluth - $33,798.00
4. University of Minnesota - $89,402.00

Most Expensive MBAs in Minnesota

1. University of Minnesota - $89,402.00
2. University of Minnesota Duluth - $33,798.00
3. St. Cloud State University - $28,969.00
4. Minnesota State University Moorhead - $26,220.00

What is the Average ROI for MBA Programs in Minnesota?

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 Minnesota is 140%, the lowest ROI is 65% from University of St. Thomas-Minnesota, and the best ROI is 265% from Minnesota State University, Mankato.

The ROI from Online MBA programs in Minnesota range between 65% from University of St. Thomas-Minnesota and 265% from Minnesota State University, Mankato. The average ROI of online MBA programs within Minnesota is 140%.

In-Person ROI for MBA Programs

• Average: 140% from Minnesota’s 7 in-person MBA Programs
• Lowest in-person: 65% from University of St. Thomas-Minnesota
• Highest in-person: 265% from Minnesota State University, Mankato

Online ROI for MBA Programs

• Average: 140% from Minnesota’s 6 online MBA Programs
• Lowest online: 65% from University of St. Thomas-Minnesota
• Highest online: 265% from Minnesota State University, Mankato

Highest ROI for MBA Programs in Minnesota

1. Minnesota State University, Mankato - 265.20%
2. Minnesota State University Moorhead - 162.09%
3. St. Cloud State University - 141.19%
4. University of Minnesota Duluth - 137.51%
5. University of Minnesota - 68.17%
6. University of St. Thomas-Minnesota - 65.01%

Lowest ROI for MBA Programs in Minnesota

1. University of St. Thomas-Minnesota - 65.01%
2. University of Minnesota - 68.17%
3. University of Minnesota Duluth - 137.51%
4. St. Cloud State University - 141.19%
5. Minnesota State University Moorhead - 162.09%
6. Minnesota State University, Mankato - 265.20%

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

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 Minnesota is 577, the lowest average GMAT score is for an MBA program is 400 from Capella University, and the highest GMAT score needed is 682 from University of Minnesota.

The average GMAT score needed for an online MBA program from an institution in Minnesota is between 400 from Capella University to 682 from University of Minnesota. The average GMAT scored for online MBA programs within Minnesota is 586.

Average GMAT Score for In-Person MBA Programs

• Average: 606 from Minnesota’s 7 in-person MBA Programs
• Lowest in-person: 400 from Capella University
• Highest in-person: 682 from University of Minnesota

Average GMAT Score for Online MBA Programs

• Average: 586 from Minnesota’s 6 online MBA Programs
• Lowest online: 400 from Capella University
• Highest online: 682 from University of Minnesota

10 Lowest GMAT Scores in Minnesota

1. Capella University - 400
2. St. Cloud State University - 519
3. University of Minnesota Duluth - 520
4. Minnesota State University Moorhead - 614
5. Minnesota State University, Mankato - 621
6. University of St. Thomas-Minnesota - 680
7. University of Minnesota - 682

10 Highest GMAT Scores in Minnesota

1. University of Minnesota - 682
2. University of St. Thomas-Minnesota - 680
3. Minnesota State University, Mankato - 621
4. Minnesota State University Moorhead - 614
5. University of Minnesota Duluth - 520
6. St. Cloud State University - 519
7. Capella University - 400

No GMAT or GRE – Best MBA Programs in Minnesota

MBA Schools with the Most Alumni Minnesota?

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 Minnesota state’s MBA programs, the range for full-time enrollment is between 27 and 491. For part-time enrollment, the range is between : 36.00 and : 771.00.

Average Enrollment for In-Person MBA Programs

• Lowest: 27 from University of Minnesota Duluth
• Highest: 491 from University of Minnesota
• Average: 109 from Minnesota’s 15 MBA Programs.
• Average: 294 from 866 the nation’s campus MBA Programs.

Average Enrollment for Online MBA Programs

• Lowest: 28 from Minnesota State University Moorhead
• Highest: 491 from University of Minnesota
• Average: 150 from Minnesota’s 6 MBA Programs.
• Average: 298 from 482 nation’s online MBA Programs.

Schools with the Lowest Student Enrollment in Minnesota

1. University of Minnesota - 491
2. St. Cloud State University - 42
3. Minnesota State University, Mankato - 38
4. Winona State University - 28
5. Minnesota State University Moorhead - 28
6. University of Minnesota Duluth - 27

MBA Programs with the Highest Student Enrollment in Minnesota

1. University of Minnesota Duluth - 27
2. Winona State University - 28
3. Minnesota State University Moorhead - 28
4. Minnesota State University, Mankato - 38
5. St. Cloud State University - 42
6. University of Minnesota - 491

What MBA Concentrations Available in Minnesota?

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 Minnesota businesses, MBA programs here have risen to the challenge by offering you an array of more than 34 MBA concentrations including:

• Accounting: 13
• Management: 12
• Marketing: 10
• Finance: 9
• International Business: 9
• General Business: 8
• Information Systems: 7
• Economics: 6
• Entrepreneurship: 6
• Healthcare Administration: 6

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

• Minnesota State University, Mankato: 25
• Winona State University: 19
• Minnesota State University Moorhead: 19
• University of St. Thomas-Minnesota: 18
• Walden University: 14
• St. Cloud State University: 13
• University of Minnesota: 13
• University of Minnesota Duluth: 6
• Concordia University-St. Paul: 5
• Capella University: 4

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 Minnesota

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

• Duluth
• Mankato
• Minneapolis
• Moorhead
• Saint Cloud
• St. Paul
• Winona

.

MBA Program Options Available in Minnesota

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

Minnesota has 15 Accredited MBA programs. 0 private and 6 public schools offering MBA programs.

Minnesota has 6 public schools and 0 private schools offering MBA degree programs.

15 Accredited MBA programs.  and 6 public schools offering MBA programs.

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

To meet the diverse needs of Minnesota businesses, MBA programs here have risen to the challenge by offering you an array of more than 34 MBA concentrations to specialize in.

Awards for MBA Programs in Minnesota

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 15 accredited MBA programs offered in Minnesota, 7 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.

Minnesota schools have earned a total of 13 Best MBA awards from publications. Here are the top MBA schools and the number of awards the each program has garnered:

• University of Minnesota: 7
• Winona State University: 1
• University of St. Thomas-Minnesota: 1
• Minnesota State University, Mankato: 1
• Minnesota State University Moorhead: 1
• St. Cloud State University: 1
• University of Minnesota Duluth: 1

Publications and the number of awards granted for Minnesota schools:

• MBAGuide: 7
• US News: 1
• Forbes: 1
• BW: 1
• FT: 1
• Economist: 1

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 Minnesota | Online MBA Programs in Minnesota 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