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2025 Best MBA Programs in Minnesota

MBAGuide StaffMBAGuide.org Staff 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 Minnesota for 2025

$44,750

Average MBA Tuition in Minnesota

$93,709

Average Starting MBA Salary in Minnesota

606

Average GMAT Scores in Minnesota

2,179

Average Student Enrollment in Minnesota

  • In Minnesota there are 6 campus and 5 online MBA Programs.
  • Starting salary for new MBA graduates in Minnesota is reported to be between $77,720 and $121,882 with an average of $93,709.
  • Tuition for Minnesota campus MBA programs ranges from $26,220 to $89,402, and averages $44,750
  • Online tuition in for Minnesota MBAs ranges between $26,220 to $89,402, with an average total tuition cost of $46,940
  • The ROI for MBA programs in Minnesota is between the highest of 224% and the lowest of 36% with an average of 143%
  • Average student enrollment in Minnesota varies between 507 and 4,357 with an overall average of 2,179.
  • Student / Faculty Ratio for MBA programs in Minnesota varies between 12:1 and 25:1 with an average of 19:1 students.
  • A GMAT score between 519 and 682 with an average of 606 is needed for acceptance into an MBA program.
  • Minnesota has 6 MBA programs are ranked by the following institutions MBAGuide: 6, US News: 1, Forbes: 1, BW: 1, FT: 1 and Economist: 1.

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.

Top 5 Industries and Companies Hiring MBA Graduates in Minnesota

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.

Major Industries in Minnesota Relevance to MBA Students
Healthcare An MBA in Healthcare Management would be beneficial for students interested in this sector.
Retail An MBA focused on Retail Management or Marketing can provide competitive skills.
Technology An MBA concentration in Technology Management or Information Systems could be beneficial.
Agriculture An MBA focused on Agribusiness or Supply Chain Management could be valuable.

Top Hiring Companies in Minnesota Why Work There
Mayo Clinic A world-renowned healthcare institution offering roles in healthcare management.
Target Opportunities in retail management, marketing, and strategic planning.
Medtronic A global leader in medical technology offering roles in technology management and operations.
Best Buy Retail giant providing opportunities in marketing, management, and business strategy.
Cargill An international agribusiness with roles in supply chain management, operations, and strategy.

Sortable Table of the Top AACSB Accredited MBA Programs in Minnesota

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 Minnesota. Click on any school for a comprehensive school profile.

Rank University Avg. Graduate ROIAvg. In State TuitionAvg. Starting SalaryStateCampus and Online
1 University of St. Thomas-Minnesota 67.00% $61,596 $102,900MNYes
2 University of Minnesota 36.00% $89,402 $121,882MNYes
3 Minnesota State University Moorhead 224.00% $26,220 $85,000MNYes
4 Minnesota State University, Mankato 173.00% $28,512 $77,720MNYes
5 University of Minnesota Duluth 175.00% $33,798 $92,953MNNo
6 St. Cloud State University 182.00% $28,969 $81,800MNYes

10 Best Ranked MBA Programs in Minnesota

Jump to a Best Ranked Program
  • University of St. Thomas-Minnesota
  • University of Minnesota
  • Minnesota State University Moorhead
  • Minnesota State University, Mankato
  • University of Minnesota Duluth
  • Winona State University
  • St. Cloud State University
  • Capella University
  • Metropolitan State University
  • Augsburg University
  • Hamline University
  • Saint Mary's University of Minnesota
  • University of Northwestern
  • Concordia University-St. Paul
  • Walden University

University of St. Thomas-Minnesota

University of St. Thomas-Minnesota Opus College of Business

Opus College of Business

Location:

  • Minneapolis

,

  • MN

Control: Private

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

Facebook, Linkedin and Twitter
  • 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:
  • Most Affordable Online MBA or Masters in Minnesota
  • Best MBA or Masters Program in Minnesota
  • Best Online MBA or Masters in Minnesota
  • Best MBA or Masters Accredited Online MBA Programs No GMAT Required
  • Best MBA or Masters Accredited Campus MBA Programs No GMAT Required
  • 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 Minnesota

University of Minnesota Carlson School of Management

Carlson School of Management

Location:

  • Minneapolis

,

  • MN

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

Facebook, Linkedin and Twitter
  • Tuition: $89,402
  • Graduate Salary: $121,882
  • Graduate ROI: 36%
  • GMAT Required: Yes
  • Avg. GMAT: 682
  • Student / Faculty Ratio: 14:1
  • Enrollment: 4357

Degree Level(s):

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

Offered As:

  • Campus
  • ·
  • Evenings
  • ·
  • Full-Time
  • ·
  • Off Campus
  • ·
  • Online
  • ·
  • Part-Time
  • ·
  • Partnership
  • ·
  • Weekends
  • Concentrations: 9
  • Accounting
  • Corporate Finance
  • Finance
  • General Business
  • Human Resources
  • Information Systems
  • Marketing
  • Operations Management
  • Taxation
  • Best in:
  • Most Affordable Online MBA or Masters in Minnesota
  • Best MBA or Masters Program in Minnesota
  • Best Online MBA or Masters in Minnesota
  • Best DBA Program in Each State
  • BBA All BBA Each State
  • Rankings
  • City Rank: 2
  • State Rank: 2
  • National Rank: 33
  • Online Rank: 15
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

Minnesota State University Moorhead

Minnesota State University Moorhead College of Business and Innovation

College of Business and Innovation

Location:

  • Moorhead

,

  • MN

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

Facebook, Linkedin and Twitter
  • Tuition: $26,220
  • Graduate Salary: $85,000
  • Graduate ROI: 224%
  • GMAT Required: Yes
  • Avg. GMAT: 614
  • Student / Faculty Ratio: 20:1
  • Enrollment: 507

Degree Level(s):

  • Master
  • ·
  • MBA
  • ·
  • Undergraduate

Offered As:

  • Campus
  • ·
  • Full-Time
  • ·
  • Online
  • Concentrations: 10
  • Accounting
  • Corporate Finance
  • Data Analytics
  • Finance
  • General Business
  • Insurance
  • Other
  • Product Management
  • Project Management
  • Supply Chain
  • Best in:
  • Most Affordable Online MBA or Masters in Minnesota
  • Best MBA or Masters Program in Minnesota
  • Best Online MBA or Masters in Minnesota
  • Best Online Concentration Product Management
  • Rankings
  • City Rank: 1
  • State Rank: 3
  • National Rank: 215
  • Online Rank: 149
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

Minnesota State University, Mankato

Minnesota State University, Mankato College of Business

College of Business

Location:

  • Mankato

,

  • MN

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

Facebook, Linkedin and Twitter
  • Tuition: $28,512
  • Graduate Salary: $77,720
  • Graduate ROI: 173%
  • GMAT Required: Conditional
  • Avg. GMAT: 621
  • Student / Faculty Ratio: 22:1
  • Enrollment: 2196

Degree Level(s):

  • Master
  • ·
  • MBA
  • ·
  • Undergraduate

Offered As:

  • 1-Year
  • ·
  • Campus
  • ·
  • Evenings
  • ·
  • Full-Time
  • ·
  • Online
  • ·
  • Part-Time
  • ·
  • Weekends
  • Concentrations: 3
  • E-Commerce
  • General Business
  • Science and Technology
  • Best in:
  • Best MBA Programs
  • Most Affordable Online MBA or Masters in Minnesota
  • Best MBA or Masters Program in Minnesota
  • Best Online MBA or Masters in Minnesota
  • Rankings
  • City Rank: 1
  • State Rank: 4
  • National Rank: 233
  • Online Rank: 166
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

University of Minnesota Duluth

University of Minnesota Duluth Labovitz School of Business and Economics

Labovitz School of Business and Economics

Location:

  • Duluth

,

  • MN

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

Facebook, Linkedin and Twitter
  • Tuition: $33,798
  • Graduate Salary: $92,953
  • Graduate ROI: 175%
  • GMAT Required: Yes
  • Avg. GMAT: 520
  • Student / Faculty Ratio: 17:1
  • Enrollment: 1667

Degree Level(s):

  • MBA
  • ·
  • Undergraduate

Offered As:

  • Campus
  • ·
  • Evenings
  • ·
  • Full-Time
  • ·
  • Off Campus
  • ·
  • Part-Time
  • ·
  • Weekends
  • Concentrations: 13
  • Accounting
  • Corporate Finance
  • Data Analytics
  • Economics
  • Entrepreneurship
  • Finance
  • General Business
  • Healthcare Administration
  • Human Resources
  • Information Systems
  • Insurance
  • Management
  • Marketing
  • Best in:
  • Best MBA or Masters Program in Minnesota
  • Rankings
  • City Rank: 1
  • State Rank: 5
  • National Rank: 249
  • Online Rank: 149
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

Winona State University

Winona State University College of Business

College of Business

Location:

  • Winona

,

  • MN

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

Facebook, Linkedin and Twitter
  • Tuition: $16,415
  • Graduate Salary: $69,135
  • Graduate ROI: 321%
  • GMAT Required: No
  • Avg. GMAT: 577
  • Student / Faculty Ratio: 16:1
  • Enrollment: 772

Degree Level(s):

  • Master
  • ·
  • Undergraduate

Offered As:

  • Campus
  • ·
  • Full-Time
  • ·
  • Online
  • Concentrations: 4
  • Accounting
  • Management
  • Science and Technology
  • Best in:
  • Most Affordable Online MBA or Masters in Minnesota
  • Best MBA or Masters Program in Minnesota
  • Best Online MBA or Masters in Minnesota
  • Best Concentration Engineering
  • Best Online Concentration Engineering
  • Rankings
  • City Rank: 1
  • State Rank: 6
  • National Rank: 328
  • Online Rank: 237
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

St. Cloud State University

Herberger Business School

Location:

  • Saint Cloud

,

  • MN

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

Facebook, Linkedin and Twitter
  • Tuition: $28,969
  • Graduate Salary: $81,800
  • Graduate ROI: 182%
  • GMAT Required: Optional
  • Avg. GMAT: 519
  • Student / Faculty Ratio: 14:1
  • Enrollment: 1356

Degree Level(s):

  • MBA
  • ·
  • Undergraduate

Offered As:

  • Campus
  • ·
  • Evenings
  • ·
  • Full-Time
  • ·
  • Off Campus
  • ·
  • Online
  • ·
  • Part-Time
  • ·
  • Weekends
  • Concentrations: 10
  • Accounting
  • Corporate Finance
  • Entrepreneurship
  • Finance
  • General Business
  • Information Systems
  • Insurance
  • Management
  • Marketing
  • Real Estate
  • Best in:
  • Most Affordable Online MBA or Masters in Minnesota
  • Best MBA or Masters Program in Minnesota
  • Best Online MBA or Masters in Minnesota
  • Rankings
  • City Rank: 1
  • State Rank: 7
  • National Rank: 375
  • Online Rank: 276
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

Capella University

School of Business and Technology

Location:

  • Minneapolis

,

  • MN

Control:

Academic Year: Quarter

Accredited: AACSB

Accreditation:

  • Tuition: not reported
  • Graduate Salary: $68,784
  • Graduate ROI: Not Reported
  • GMAT Required:
  • Avg. GMAT: 400
  • Student / Faculty Ratio: :1
  • Enrollment:

Degree Level(s):

Offered As:

  • Concentrations: 1
  • Project Management
  • Best in:
  • Best MBA or Masters Program in Minnesota
  • Rankings
  • City Rank: 3
  • State Rank: 8
  • National Rank: 534
  • Online Rank: Not Ranked
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

Metropolitan State University

Metropolitan State University School of Business

School of Business

Location:

  • Minneapolis

,

  • MN

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
  • Human Resources
  • International Business
  • Best in:
  • Best MBA or Masters Program in Minnesota
  • Rankings
  • City Rank: 4
  • State Rank: 9
  • National Rank: 617
  • Online Rank: Not Ranked
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

Augsburg University

Augsburg University School of Business

Department of Business Administration

Location:

  • Minneapolis

,

  • MN

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: 0

Degree Level(s):

Offered As:

  • Concentrations: 4
  • Accounting
  • Management
  • Marketing
  • Project Management
  • Best in:
  • Best MBA or Masters Program in Minnesota
  • Rankings
  • City Rank: 5
  • State Rank: 10
  • National Rank: 623
  • Online Rank: Not Ranked
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

Hamline University

Hamline University School of Business

School of Business

Location:

,

  • MN

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
  • Health Care Management
  • Leadership
  • Best in:
  • Rankings
  • City Rank: 57
  • State Rank: 11
  • National Rank: 650
  • Online Rank: Not Ranked
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

Saint Mary's University of Minnesota

Saint Mary's University of Minnesota School of Business and Technology

School of Business and Technology

Location:

  • Winona

,

  • MN

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
  • Healthcare Administration
  • Supply Chain
  • Best in:
  • Rankings
  • City Rank: 2
  • State Rank: 12
  • National Rank: 688
  • Online Rank: Not Ranked
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

University of Northwestern

University of Northwestern School of Business

School of Business

Location:

  • St. Paul

,

  • MN

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
  • Accounting
  • Management
  • Best in:
  • Rankings
  • City Rank: 1
  • State Rank: 13
  • National Rank: 767
  • Online Rank: Not Ranked
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

Concordia University-St. Paul

Concordia University-St. Paul Concordia University - St. Paul

Concordia University - St. Paul

Location:

  • St. Paul

,

  • MN

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
  • Accounting
  • Finance
  • International Business
  • Management
  • Marketing
  • Best in:
  • Rankings
  • City Rank: 2
  • State Rank: 14
  • National Rank: 768
  • Online Rank: Not Ranked
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

Walden University

Walden University

Location:

  • Minneapolis

,

  • MN

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: 14
  • Accounting
  • Data Analytics
  • Economics
  • Finance
  • General Business
  • Health Care Management
  • Human Resources
  • Information Systems
  • International Business
  • Management
  • Marketing
  • Product Management
  • Project Management
  • Quantitative Methods
  • Best in:
  • Rankings
  • City Rank: 6
  • State Rank: 15
  • National Rank: 871
  • Online Rank: Not Ranked
  • Top 10% in State: ROI, Tuition
  • Better than State Average: GMAT
  • Better than National Average: Student / Faculty Ratio

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

 AveragesMinnesota MBA ProgramsOnline MBA ProgramsMBA Programs Nationwide
Average MBA Tuition$44,750 $37,167$42,528
Average Graduate Salary$93,709$79,354 $82,899
Average ROI143%196%185%
Average GMAT Scores606561567

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 $44,750, 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 $46,940.

Average Tuition for In-Person MBA Programs

Average: $44,750 from Minnesota’s 6 in-person MBA Programs
Lowest in-person: $26,220 from Minnesota State University Moorhead
Highest in-person: $89,402 from University of Minnesota

Most Affordable MBAs in Minnesota

  1. Minnesota State University Moorhead - $26,220.00
  2. Minnesota State University, Mankato - $28,512.00
  3. St. Cloud State University - $28,969.00
  4. University of Minnesota Duluth - $33,798.00
  5. University of St. Thomas-Minnesota - $61,596.00
  6. University of Minnesota - $89,402.00

Most Expensive MBAs in Minnesota

  1. University of Minnesota - $89,402.00
  2. University of St. Thomas-Minnesota - $61,596.00
  3. University of Minnesota Duluth - $33,798.00
  4. St. Cloud State University - $28,969.00
  5. Minnesota State University, Mankato - $28,512.00
  6. Minnesota State University Moorhead - $26,220.00

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 $93,709, the lowest average MBA starting salary is $77,720 from Minnesota State University, Mankato, 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 $77,720 from Minnesota State University, Mankato and $121,882 from University of Minnesota. The average starting MBA salary for graduates of online MBA programs within Minnesota is $93,860.

Average Graduate Salaries for In-Person MBA Programs

  • Average: $93,709 from Minnesota’s 6 In-Person MBA Programs
  • Lowest In-Person: $77,720 from Minnesota State University, Mankato
  • Highest In-Person:$121,882 from University of Minnesota

Schools with the Highest Graduate MBA Salaries 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

Schools with the Lowest Graduate MBA Salaries in Minnesota

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

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 143%, the lowest ROI is 36% from University of Minnesota, and the best ROI is 224% from Minnesota State University Moorhead.

The ROI from Online MBA programs in Minnesota range between 36% from University of Minnesota and 224% from Minnesota State University Moorhead. The average ROI of online MBA programs within Minnesota is 136%.

In-Person ROI for MBA Programs

  • Average: 143% from Minnesota’s 6 in-person MBA Programs
  • Lowest in-person: 36% from University of Minnesota
  • Highest in-person: 224% from Minnesota State University Moorhead

Highest ROI for MBA Programs in Minnesota

  1. Minnesota State University Moorhead - 224.00%
  2. St. Cloud State University - 182.00%
  3. University of Minnesota Duluth - 175.00%
  4. Minnesota State University, Mankato - 173.00%
  5. University of St. Thomas-Minnesota - 67.00%
  6. University of Minnesota - 36.00%

Lowest ROI for MBA Programs in Minnesota

  1. University of Minnesota - 36.00%
  2. University of St. Thomas-Minnesota - 67.00%
  3. Minnesota State University, Mankato - 173.00%
  4. University of Minnesota Duluth - 175.00%
  5. St. Cloud State University - 182.00%
  6. Minnesota State University Moorhead - 224.00%

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 606, the lowest average GMAT score is for an MBA program is 519 from St. Cloud State 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 519 from St. Cloud State University to 682 from University of Minnesota. The average GMAT scored for online MBA programs within Minnesota is 623.

Average GMAT Score for In-Person MBA Programs

  • Average: 606 from Minnesota’s 6 in-person MBA Programs
  • Lowest in-person: 519 from St. Cloud State University
  • Highest in-person: 682 from University of Minnesota

Lowest GMAT Scores in Minnesota

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

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

No GMAT or GRE – Best MBA Programs in Minnesota

Rank University GMAT Online College Name Based In
1 University of St. Thomas-Minnesota No Yes Opus College of Business Minneapolis, MN
2 St. Cloud State University Optional Yes Herberger Business School Saint Cloud, MN

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 11 and 455. For part-time enrollment, the range is between : 23.00 and : 713.00.

Average Enrollment for In-Person MBA Programs

  • Lowest: 11 from Minnesota State University Moorhead
  • Highest: 455 from University of Minnesota
  • Average: 188 from Minnesota’s 6 MBA Programs.
  • Average: 296 from 511 the nation’s campus MBA Programs.

Schools with the Lowest Student Enrollment in Minnesota

  1. University of Minnesota - 455
  2. St. Cloud State University - 257
  3. University of Minnesota Duluth - 28
  4. Minnesota State University Moorhead - 11

MBA Programs with the Highest Student Enrollment in Minnesota

  1. Minnesota State University Moorhead - 11
  2. University of Minnesota Duluth - 28
  3. St. Cloud State University - 257
  4. University of Minnesota - 455

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 26 MBA concentrations including:

  • General Business: 6
  • Accounting: 5
  • Finance: 5
  • Corporate Finance: 5
  • Marketing: 4
  • Insurance: 4
  • Entrepreneurship: 3
  • Human Resources: 3
  • Data Analytics: 3
  • Information Systems: 3

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

  • University of St. Thomas-Minnesota: 19
  • University of Minnesota Duluth: 13
  • Minnesota State University Moorhead: 10
  • St. Cloud State University: 10
  • University of Minnesota: 9
  • Minnesota State University, Mankato: 3

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

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 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 6 Accredited MBA programs. 0 private and 5 public schools offering MBA programs.

Minnesota has 5 public schools and 0 private schools offering MBA degree programs.

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

Minnesota schools offer 10 different paths to earn your MBA in Minnesota including Campus, Full-Time, Evenings, Online, 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 26 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 6 accredited MBA programs offered in Minnesota, 6 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 12 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
  • 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: 6
  • US News: 1
  • Forbes: 1
  • BW: 1
  • FT: 1
  • Economist: 1

How We Rank the Best MBA Programs in Minnesota

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 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

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      • Finance – 430
      • Accounting – 444
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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

      Explore All 50 MBA Concentrations

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