2023 Best MBA Programs in Virginia

Compare MBA Degrees in Virginia for 2023

Key Highlights:

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

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

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

Virginia boasts a strong and diverse economy with robust sectors such as technology, government services, healthcare, finance, and manufacturing. These sectors offer a wealth of opportunities for MBA graduates.

The technology sector is a major driver of Virginia's economy. An MBA with a specialization in Information Systems or Technology Management could lead to rewarding opportunities within this industry. Government services also play a significant role in the state's economy. Those specializing in Public Administration or Policy Analysis can find promising roles within this sector.

Healthcare is another prominent industry in Virginia. For those pursuing an MBA with a focus on Healthcare Administration or Healthcare Management, there are ample career prospects. The finance sector provides lucrative opportunities for those with Finance or Risk Management specializations. Lastly, the manufacturing industry offers roles for those specializing in Operations Management or Supply Chain Management.

Here are some top companies in Virginia where MBA graduates often find employment:

• • Northrop Grumman: As one of the largest defense contractors globally, Northrop Grumman offers various leadership roles suitable for MBA graduates.

• • Capital One Financial Corporation: This Fortune 500 company provides ample opportunities for MBAs with a focus on finance and risk management.

• • Carilion Clinic: A healthcare organization that offers roles within healthcare administration – ideal for those with an MBA specialization in Healthcare Administration.

• • Hilton Worldwide Holdings Inc: A leading global hospitality company that offers various strategic planning and project management roles – perfect for those with an MBA specialization in Hospitality Management.

• • General Dynamics: A major aerospace and defense company offering roles suited to MBAs specializing in Operations or Supply Chain Management.

Compare MBA Program Averages Across

Virginia, the U.S. and Online

Table of Best Ranked MBA Programs in Virginia

What is the Average Graduate MBA Salary in Virginia?

While the average starting salary for graduates of an in-person MBA program in Virginia is about $91,397, the lowest average MBA starting salary is $41,538 from Shenandoah University, and the highest average MBA starting salary is $124,684 from University of Virginia-Darden.

The average starting salary for graduates of an Online MBA program from an institution in Virginia is between $87,480 from College of William and Mary and $124,684 from University of Virginia-Darden. The average starting MBA salary for graduates of online MBA programs within Virginia is $96,848.

Average Graduate Salaries for In-Person MBA Programs

• Average: $91,397 from Virginia's 19 In-Person MBA Programs
• Lowest In-Person: $41,538 from Shenandoah University
• Highest In-Person:$124,684 from University of Virginia-Darden

Average Graduate Salaries for Online MBA Programs

• Average: $96,848 from Virginia's 10 Online MBA Programs
• Lowest Online: $87,480 from College of William and Mary
• Highest Online: $124,684 from University of Virginia-Darden

What is the Average Tuition for MBA Programs in Virginia?
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 Virginia will cost about $42,424, the least expensive MBA program is $18,612 from Radford University, and the most expensive is $139,200 from University of Virginia-Darden.

An Online MBA program from an institution in Virginia will cost you between $18,612 from Radford University and $139,200 from University of Virginia-Darden. The average cost of online MBA programs within Virginia is $50,118.

Average Tuition for In-Person MBA Programs

• Average: $42,536 from Virginia's 19 in-person MBA Programs
• Lowest in-person: $18,612 from Radford University
• Highest in-person: $139,200 from University of Virginia-Darden

Average Tuition for Online MBA Programs

• Average: $50,118 from Virginia's 10 online MBA Programs
• Lowest online: $18,612 from Radford University
• Highest online: $139,200 from University of Virginia-Darden

What is the ROI for MBA Programs in Virginia?

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 Virginia is 139%, the lowest ROI is 45% from University of Virginia-Darden, and the best ROI is 242% from Radford University.

The ROI from Online MBA programs in Virginia range between 45% from University of Virginia-Darden and 242% from Radford University. The average ROI of online MBA programs within Virginia is 146%.

In-Person ROI for MBA Programs

• Average: 139% from Virginia's 19 in-person MBA Programs
• Lowest in-person: 45% from University of Virginia-Darden
• Highest in-person: 242% from Radford University

Online ROI for MBA Programs

• Average: 146% from Virginia's 10 online MBA Programs
• Lowest online: 45% from University of Virginia-Darden
• Highest online: 242% from Radford University

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

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 Virginia is 550, the lowest average GMAT score is for an MBA program is 400 from East Coast Polytechnic Institute, and the highest GMAT score needed is 672 from University of Virginia-Darden.

The average GMAT score needed for an online MBA program from an institution in Virginia is between 400 from East Coast Polytechnic Institute to 672 from University of Virginia-Darden. The average GMAT scored for online MBA programs within Virginia is 548.

Average GMAT Score for In-Person MBA Programs

• Average: 550 from Virginia's 19 in-person MBA Programs
• Lowest in-person: 400 from East Coast Polytechnic Institute
• Highest in-person: 672 from University of Virginia-Darden

Average GMAT Score for Online MBA Programs

• Average: 548 from Virginia's 10 online MBA Programs
• Lowest online: 400 from East Coast Polytechnic Institute
• Highest online: 672 from University of Virginia-Darden

Which MBA Schools Have the Highest Student Enrollment in Virginia?

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 Virginia state's MBA programs, the range for full-time enrollment is between 2 and 969. For part-time enrollment, the range is between 63 and 598.

Average Enrollment for Score for In-Person MBA Programs

• Lowest: 2 from University of Richmond
• Highest: 969 from University of Virginia-Darden
• Average: 187 from Virginia's 29 MBA Programs.
• Average: 243 from 879 the nation's campus MBA Programs.

Average Enrollment for Score for Online MBA Programs

• Lowest: 13 from Radford University
• Highest: 969 from University of Virginia-Darden
• Average: 224 from Virginia's 10 MBA Programs.
• Average: 201 from 327 nation's online MBA Programs.

What MBA Concentrations Available in Virginia?

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 Virginia businesses, MBA programs here have risen to the challenge by offering you an array of more than 53 MBA concentrations including:

• Marketing: 19
• Accounting: 19
• Finance: 18
• Management: 17
• General Business: 16
• Information Systems: 16
• International Business: 15
• Supply Chain: 12
• Economics: 11
• Data Analytics: 11

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

• University of Virginia-Darden: 34
• George Mason University: 32
• University of Mary Washington: 24
• University of Richmond: 23
• Virginia Polytechnic Institute and State University: 21
• Liberty University: 19
• Washington and Lee University: 17
• Christopher Newport University: 15
• Virginia Commonwealth University: 15
• Norfolk State University: 15

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 Virginia

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

• Blacksburg
• Charlottesville
• Fairfax
• Farmville
• Harrisonburg
• Lexington
• Newport News
• Norfolk
• Petersburg
• Radford
• Richmond
• Williamsburg
• Winchester

MBA Program Options Available in Virginia

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

Virginia has 29 Accredited MBA programs. 3 private and 14 public schools offering MBA programs.

Virginia has 14 public schools and 3 private schools offering MBA degree programs.

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

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

To meet the diverse needs of Virginia businesses, MBA programs here have risen to the challenge by offering you an array of more than 53 MBA concentrations to specialize in.

Awards for MBA Programs in Virginia

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 29 accredited MBA programs offered in Virginia, 15 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.

Virginia schools have earned a total of 25 Best MBA awards from publications. Here are the top MBA schools and the number of awards the each program has garnered:

• University of Virginia-Darden: 7
• College of William and Mary: 5
• Washington and Lee University: 1
• Virginia State University: 1
• Virginia Polytechnic Institute and State University: 1
• Virginia Military Institute: 1
• Virginia Commonwealth University: 1
• Shenandoah University: 1
• University of Richmond: 1
• Old Dominion University: 1
• Longwood University: 1
• James Madison University: 1
• George Mason University: 1
• Christopher Newport University: 1
• Radford University: 1

Publications and the number of awards granted for Virginia schools:

• MBAGuide: 15
• US News: 2
• Forbes: 2
• BW: 2
• FT: 1
• Economist: 1