best mba programs in chicago

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Best MBA Programs in Chicago in 2022

MBAs have long been the most popular graduate degree in the United States, and with good reason. Unlike most professional programs, an MBA doesn’t lock you into a specific career. In fact, depending on your field, an MBA could actually broaden your horizons — not to mention make you a lot more money.

Why Should You Apply for an MBA?

There are any number of reasons to apply for an MBA. If you’re mid-career, you might be looking for an MBA to improve your leadership skills, branch out into a different niche, increase your networking opportunities, or even switch careers entirely. For recent graduates, an MBA can provide better job prospects and earning potential, with MBA holders earning higher median salaries than their counterparts in similar positions. The National Association of Colleges and Employers predicts an average starting salary for MBA graduates in the class of 2020 of $79,043, which is over $20,000 higher than the predicted salary of graduates with a bachelor’s degree in business.

Recommended Schools

UCLPROGRAM: THE UCL MBA, GLOBAL AND ONLINEPursue your MBA online at UCL, one of the world’s top 10 universities, and join a community of disruptive thinkers. Designed for experienced business professionals with 5+ years of work experience, learn how to make data-driven business decisions and navigate a fast-paced global business landscape. Scholarships available.VISIT SITE

What Are the Program Requirements for an MBA?

The requirements for each specific MBA program may vary according to the school, but in general, applicants may be required to have:

A four-year bachelor’s degree from an accredited institution
Resume and personal statement
Letters of professional recommendation
Proof of English proficiency if applying from outside the United States
GMAT score over 600
1-5 years of relevant work experience

RANK	SCHOOL	LOCATION
1	Concordia University Chicago	River Forest, Illinois
2	Aurora University	Aurora, Illinois
3	National Louis University	Chicago, Illinois
4	Western Illinois University	Macomb, Illinois
5	Chicago State University	Chicago, Illinois

What Are the Best Value MBA Programs in Chicago?

We compiled a list of schools in and around the greater Chicago region that provide MBA programs and ranked the top 27 schools. We used tuition (lowest is best) and admittance rate (highest is best) to rank the schools. Check out our rankings below to find the best value MBA programs in Chicago.1

Concordia University Chicago

River Forest, Illinois
Graduation Rate: 48%

The MBA program at Concordia University Chicago is offered as a one or two-year program, on-campus or online, and allows students to choose from 10 specializations. The Concordia-Chicago MBA is based around the four pillars of ethics and social responsibility, critical thinking and entrepreneurial mindset, communication and human relations, and global interconnectedness and inclusiveness. The world-class program offers small class sizes, expert faculty, flexible scheduling, and a practical, hands-on approach to business education.

SCHOOL OVERVIEW

Tuition per credit: $710Acceptance rate: 100%Credit hours: 39Accreditation: Higher Learning CommissionVISIT SCHOOL WEBSITE2

Aurora University

Aurora, Illinois
Graduation Rate: 57%

Aurora University‘s Dunham School of Business offers its MBA program in three formats. The MBA Plus One Program is a streamlined one-year, full-time degree, while the MBA Evening Program is designed for working professionals and the MBA Online Program offers a flexible format. The program offers experiential learning opportunities and is built heavily on real-world and simulated case studies. Students can complete an MBA in one year full-time or two years part-time.

SCHOOL OVERVIEW

Tuition per credit: $715Acceptance rate: 95%Credit hours: 36Accreditation: Higher Learning CommissionVISIT SCHOOL WEBSITE3

National Louis University

Chicago, Illinois
Graduation Rate: 59%

The MBA program at National Louis University offers students flexible classes, leadership development, real-world-experience, and professional networking opportunities. The program cultivates leadership abilities by teaching traditional strategies alongside customized techniques tailored to students’ individual strengths. The MBA concludes with the comprehensive Capstone Simulation, where student teams work together to run a company.

SCHOOL OVERVIEW

Tuition per credit: $781Acceptance rate: 98%Credit hours: 39Accreditation: IACBEVISIT SCHOOL WEBSITE4

Western Illinois University

Macomb, Illinois
Graduation Rate: 53%

Western Illinois University’s Master of Business Administration (MBA) program provides a high-value, low-cost credential customized to meet your educational and professional objectives. Accredited by AACSB, flexibility is key with six entry points into the program and 8-week modules for working professionals to complete the program online. Increased faculty and student engagement available with livestream courses or available fully online for a purely asynchronous learning environment. Choose from eleven concentrations including business analytics, health services administration, and supply chain management, providing specialized content to enhance your credentials.

SCHOOL OVERVIEW

Tuition per credit: $339Acceptance rate: 72%Credit hours: 33Accreditation: AACSBVISIT SCHOOL WEBSITE5

Chicago State University

Chicago, Illinois
Graduation Rate: 17%

Chicago State University offers a weekend MBA program designed for working professionals that desire to lead and transform organizations, improve performance, and access capital in a globally competitive environment. The program offers a choice of 11 specializations as well as a capstone project in the final semester. The executive-style weekend format is designed for working professionals seeking career advancement, with learning styles that benefit from interaction and collaboration

SCHOOL OVERVIEW

Tuition per credit: $325Acceptance rate: UnknownCredit hours: 36Accreditation: Higher Learning CommissionVISIT SCHOOL WEBSITE6

University of St. Francis

Joliet, Illinois
Graduation Rate: 74%

Northern Illinois University

DeKalb, Illinois
Graduation Rate: 46%

Northeastern Illinois University

Chicago, Illinois
Graduation Rate: 62%

Governors State University

University Park, Illinois
Graduation Rate: 47%

Dominican University

River Forest, Illinois
Graduation Rate: 62%

Lewis University

Romeoville, Illinois
Graduation Rate: 61%

Robert Morris University Illinois

Chicago, Illinois
Graduation Rate: 39%

Roosevelt University

Chicago, Illinois
Graduation Rate: 61%

Saint Xavier University

Chicago, Illinois
Graduation Rate: 51%

Judson University

Elgin, Illinois
Graduation Rate: 63%

Elmhurst University

Elmhurst, Illinois
Graduation Rate: 69%

Benedictine University

Lisle, Illinois
Graduation Rate: 63%

North Park University

Chicago, Illinois
Graduation Rate: 53%

Loyola University Chicago

Chicago, Illinois
Graduation Rate: 75%

North Central College

Naperville, Illinois
Graduation Rate: 69%

University of Illinois at Chicago

Chicago, Illinois
Graduation Rate: 58%

Lake Forest Graduate School of Management

Lake Forest, Illinois

Kellstadt Graduate School of Business

Chicago, Illinois

University of Notre Dame

Notre Dame, Indiana
Graduation Rate: 95%

Stuart School of Business

Chicago, Illinois

Kellog School of Management

Evanston, Illinois

University of Chicago

Chicago, Illinois
Graduation Rate: 94%

Recommended Schools

UCLPROGRAM: THE UCL MBA, GLOBAL AND ONLINEPursue your MBA online at UCL, one of the world’s top 10 universities, and join a community of disruptive thinkers. Designed for experienced business professionals with 5+ years of work experience, learn how to make data-driven business decisions and navigate a fast-paced global business landscape. Scholarships available.VISIT SITE

Still need help finding the right program? Select Business & Management and then Business Administration in our handy drop-down list to find out more about which MBA program is right for you.

Our Ranking Methodology

To determine how to rank each college, we researched and evaluated each school’s estimated cost of tuition per credit and acceptance rate. We took graduate tuition rates directly from each school’s website and acceptance data from Google. We used in-state tuition rates where available. We used per-credit tuition rates for comparison. Where applicable, the acceptance data is for the specific campus, not the parent school.

After sorting each program by cost of tuition and then by acceptance rate, we let each value make up equal portions (50%) of each school’s score.

Problems with Your Ranking?

If you are affiliated with one of the schools ranked and you notice an error in the information we used for rankings, please contact us and let us know so we can make a correction.

best online mba programs in chicago

Best Online MBA Programs in Chicago

Are you ready to discover your MBA program?

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Online MBA programs in Chicago can provide several benefits for students both during enrollment and after graduation. The Second City offers plenty of opportunities for business and finance-minded professionals. Earning a degree from one of the MBA programs in Chicago can give you the chance to build connections with local employers through internships, fellowships, and networking opportunities.

Students do not need to attend on-campus courses to reap these benefits. Online learners can set themselves up for postgraduate opportunities in the Windy City while keeping their day jobs, saving on housing costs, and living at home. These students often pay reduced tuition compared with their on-campus counterparts in Chicago.

Career Outlook With an MBA in Chicago

A healthy portion of the top-ranked online MBA programs in Illinois operate out of Chicago or its surrounding suburbs. As such, Chicago serves as a hub for in-state students looking to pursue online degrees in the field. For more information about the Land of Lincoln’s online MBA options, please consult the Illinois state page on this website.

Furthermore, students looking to pursue employment in Chicago after they graduate can benefit from pursuing an MBA in the city. Many of Chicago’s business schools maintain connections with local employers, and students can intern or work for local companies while completing their education. Chicago also houses several professional organizations that offer benefits such as conferences, professional development, and continuing education, allowing students to grow and network while still in school.

Online students can also benefit from pursuing an online MBA at one of Chicago’s schools. Chicago’s cost of living is higher than anywhere else in the state, so in-state students can often save money by living at home and taking online courses. By doing so, these students can pay in-state tuition, continue working at their jobs, and save money on expensive housing costs that they would need to pay if they attended on-campus programs in Chicago.

Chicago provides many opportunities for professionals interested in entering management or the business and financial operations. As most MBA graduates pursue these industries, Chicago provides a particularly fertile ground for launching your career after you finish your program.

Online MBA Programs for You

Grow your career, leadership, and business acumen with an accredited online MBA program.ADVERTISEMENTTHE UCL MBA, GLOBAL AND ONLINEUCL

Pursue your MBA online at UCL, one of the world’s top 10 universities, and join a community of disruptive thinkers. Designed for experienced business professionals with 5+ years of work experience, learn how to make data-driven business decisions and navigate a fast-paced global business landscape. Scholarships available.Learn More UCL Visit SiteView More Programs

Education Statistics for Chicago, Illinois

Chicago

5.7

56.6

8.4

Source: Move.org, 2019

MBA Salary in Chicago

Salary Outlook for MBA Graduates in Chicago-Naperville-Elgin Metro Area

Management	$117,780	Chief Executives, General Operations Managers, Sales Managers
Business and Financial Operations	$76,070	Buyers/Purchasing Agents, Compliance Officers, Human Resources Specialists

Source: Bureau of Labor Statistics (BLS)

Average Salary for MBA Graduates in Chicago, IL

$96,472

MBA Employment in Chicago

Employment Outlook for MBA Graduates in Chicago-Naperville-Elgin Metro Area

Management	349,160	Chief Executives, General Operations Managers, Sales Managers
Business and Financial Operations	263,730	Buyers/Purchasing Agents, Compliance Officers, Human Resources Specialists

Source: Bureau of Labor Statistics (BLS)

The Best Online MBA Programs in Chicago

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Concordia University-ChicagoLocationRiver Forest, ILTuition$24840
National Louis UniversityLocationChicago, ILTuition$30459
North Park UniversityLocationChicago, ILTuition$41400
Northeastern Illinois UniversityLocationChicago, ILTuition$12672

Online MBA Programs in Surrounding States

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