2023 Best MBA Programs in Minnesota

Compare MBA Degrees in Minnesota for 2023

Key Highlights:

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

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

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

Minnesota is recognized for its strong presence in healthcare, with industry giants such as Mayo Clinic and Medtronic headquartered in the state. An MBA with a specialization in Healthcare Management could be particularly advantageous for students looking to excel in this sector.

The state is also known for its robust retail sector, with industry-leading companies like Target and Best Buy. An MBA with a focus on Retail Management or Marketing can provide graduates with competitive skills.

Furthermore, Minnesota is home to a burgeoning tech industry, particularly in areas of medical technology and software development. An MBA concentration in Technology Management or Information Systems could be particularly beneficial.

Finally, Minnesota's agricultural industry remains a significant part of its economy, making an MBA with a focus on Agribusiness or Supply Chain Management relevant.

Compare MBA Program Averages Across

Minnesota, the U.S. and Online

Table of Best Ranked MBA Programs in Minnesota

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 $78,768, the lowest average MBA starting salary is $55,000 from Minnesota State University Moorhead, and the highest average MBA starting salary is $94,779 from University of St. Thomas-Minnesota.

The average starting salary for graduates of an Online MBA program from an institution in Minnesota is between $55,000 from Minnesota State University Moorhead and $94,779 from University of St. Thomas-Minnesota. The average starting MBA salary for graduates of online MBA programs within Minnesota is $77,474.

Average Graduate Salaries for In-Person MBA Programs

• Average: $80,432 from Minnesota's 7 In-Person MBA Programs
• Lowest In-Person: $55,000 from Minnesota State University Moorhead
• Highest In-Person:$94,779 from University of St. Thomas-Minnesota

Average Graduate Salaries for Online MBA Programs

• Average: $77,474 from Minnesota's 4 Online MBA Programs
• Lowest Online: $55,000 from Minnesota State University Moorhead
• Highest Online: $94,779 from University of St. Thomas-Minnesota

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 $43,035, the least expensive MBA program is $17,219 from Minnesota State University, Mankato, and the most expensive is $84,980 from University of Minnesota.

An Online MBA program from an institution in Minnesota will cost you between $17,219 from Minnesota State University, Mankato and $72,900 from University of St. Thomas-Minnesota. The average cost of online MBA programs within Minnesota is $37,403.

Average Tuition for In-Person MBA Programs

• Average: $43,035 from Minnesota's 7 in-person MBA Programs
• Lowest in-person: $17,219 from Minnesota State University, Mankato
• Highest in-person: $84,980 from University of Minnesota

Average Tuition for Online MBA Programs

• Average: $37,403 from Minnesota's 4 online MBA Programs
• Lowest online: $17,219 from Minnesota State University, Mankato
• Highest online: $72,900 from University of St. Thomas-Minnesota

What is the 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 126%, the lowest ROI is 54% from University of 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 152%.

In-Person ROI for MBA Programs

• Average: 126% from Minnesota's 7 in-person MBA Programs
• Lowest in-person: 54% from University of Minnesota
• Highest in-person: 265% from Minnesota State University, Mankato

Online ROI for MBA Programs

• Average: 152% from Minnesota's 4 online MBA Programs
• Lowest online: 65% from University of St. Thomas-Minnesota
• Highest online: 265% from Minnesota State University, Mankato

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 528, the lowest average GMAT score is for an MBA program is 400 from Capella University, and the highest GMAT score needed is 654 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 561 from University of St. Thomas-Minnesota. The average GMAT scored for online MBA programs within Minnesota is 504.

Average GMAT Score for In-Person MBA Programs

• Average: 549 from Minnesota's 7 in-person MBA Programs
• Lowest in-person: 400 from Capella University
• Highest in-person: 654 from University of Minnesota

Average GMAT Score for Online MBA Programs

• Average: 504 from Minnesota's 4 online MBA Programs
• Lowest online: 400 from Capella University
• Highest online: 561 from University of St. Thomas-Minnesota

Which MBA Schools Have the Highest Student Enrollment in 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 13 and 467. For part-time enrollment, the range is between 39 and 952.

Average Enrollment for Score for In-Person MBA Programs

• Lowest: 13 from University of Minnesota Duluth
• Highest: 467 from University of Minnesota
• Average: 94 from Minnesota's 15 MBA Programs.
• Average: 243 from 879 the nation's campus MBA Programs.

Average Enrollment for Score for Online MBA Programs

• Lowest: 17 from Minnesota State University, Mankato
• Highest: 25 from University of St. Thomas-Minnesota
• Average: 21 from Minnesota's 4 MBA Programs.
• Average: 201 from 327 nation's online MBA Programs.

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 39 MBA concentrations including:

• Accounting: 13
• Management: 12
• Marketing: 10
• International Business: 9
• Finance: 9
• General Business: 8
• Information Systems: 8
• Economics: 7
• Project Management: 5
• Human Resources: 5

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

• Winona State University: 22
• University of Minnesota: 21
• St. Cloud State University: 18
• Minnesota State University Moorhead: 16
• Walden University: 14
• Minnesota State University, Mankato: 14
• University of Minnesota Duluth: 13
• University of St. Thomas-Minnesota: 8
• 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. 2 private and 5 public schools offering MBA programs.

Minnesota has 5 public schools and 2 private schools offering MBA degree programs.

15 Accredited MBA programs.  and 5 public schools offering MBA programs.

Minnesota schools offer 9 different paths to earn your MBA in Minnesota including Online, Campus, Full-Time, 1-Year, Distance Education, Evenings and Weekends, Off Campus, Part-Time 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 39 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