Top 10 Online MBA Programs in Indiana

Dubbed the “Cross Roads of America,” the state of Indiana “has more miles of Interstate Highway per square mile than any other state. The Indiana state Motto, can be traced back to the early 1800s. In the early years river traffic, especially along the Ohio, was a major means of transportation. The National Road, a major westward route, and the north-south Michigan Road crossed in Indianapolis. Today, more major highways intersect in Indiana than in any other state.” Some of the “firsts” that Indiana can claim include Fort Wayne’s Syvanus Bower’s developing the world’s first gasoline pump, the first long-distance automobile race taking place at the Indianapolis Motor Speedway in 1911, and the first professional baseball game being held in Fort Wayne in 1871. Besides being the birth state of such notables as Cole Porter, David Letterman, and John Cougar Mellencamp, the state of Indiana also features some of the nation’s best online Master’s of Business Administration programs. These programs can be found at some of the state’s most highly-respected universities. The business schools which offer these programs have designed these top-ranking online degrees as programs sometimes identical to the curriculum offered within their on-campus programs but with the added convenience and flexibility of a distance education.

Like their on-campus counterparts, these online programs are designed for students who have already achieved three to five years of professional experience and an undergraduate degree awarded by an accredited college or university. While the GMAT has for many years been used by business schools to help predict if a student is a good match for the program they provide, many schools in Indiana have begun waiving all GMAT or GRE requirements leaning more heavily on the strength of letters of recommendations, essays, and interview results. Today, some distance learners are most interested in 100% online MBA. This option can help keep education costs lower with no travel time, hotel accommodations, or parking fees. Other expenses like childcare can be avoided with fully-online programs. Some students are more interested in programs which feature short on-campus residencies for better networking opportunities, while some online MBAs even feature short international residencies which give students greater accessibility to global markets and a larger scale of business. The state of Indiana houses many top-notch business schools that offer these criteria, as well as a myriad of other opportunities for the distance learner.

As there has never been a better time to pursue an online MBA. Let this ranking of the best online MBA programs in Indiana help guide you in the important decision of finding a degree that is the right fit for you.

For more information about other online MBA programs, check out our article on the top MBA specializations and explore our other Online MBA Rankings.

Note: A detailed explanation of the methodology we used to determine the best online MBA programs in Indiana can be found at the end of the ranking.

#1 Indiana University Kelley School of Business – Bloomington, Indiana

Photo creditThe Kelley School of Business at Indiana University features the state’s best online Master’s of Business Administration program. This 51-credit hour program is classified as expensive in affordability with a total tuition price between $50,000 and $99,999. U.S. News & World Report reports an average base salary of an attractive $100,874 among the business school’s graduates, reflecting the potential for a healthy return on the investment of education associated with this program. The Kelley School of Business receives its stellar business accreditation through the Association to Advance Collegiate Schools of Business. The business school has designed this program to be completed in just two years and includes the following core courses: Topics in Directed Business Interaction, Economics, Quantitative Analysis, Accounting, Strategic Marketing Management, Operations Management, Financial Management, Strategic Management and Business Planning, and Topics in Directed Business Analysis. While U.S. News & World Report has recently recognized the business school as offering the 205^th best online MBA in the nation, the Princeton Review ranks it as #1 and Financial Times recognized the Kelley School of Business as offering the 7^th best in the U.S. Quacquarelli Symonds has recognized the business school as featuring the 3^rd best online MBA on the planet.

Home of the Hoosiers who wear the school colors of cream and crimson, the athletic department at Indiana University supports men’s and women’s varsity sports teams which compete at the NCAA Division I level as powerhouse members of the Big 10 Conference. The university is a four-year, public institution of higher learning with a main campus located in Bloomington, Indiana. The university delivers degrees at the associate, undergraduate, graduate, and doctoral levels to the 49,695 students currently enrolled there. Indiana was founded in 1820 as the State Seminary. The school’s first instructor, who was responsible for teaching all courses, was Presbyterian minister, Baynard Rush Hall. The school would later admit its first female student in 1867, thereby becoming the fourth public university in the United States to do so. Indiana receives its regional accreditation through the Higher Learning Commission on Colleges and features Lux et Veritas “Light and Truth” as its official school motto.

Affordability Score: Expensive
OMBAT Ranking Score: 100.00

#2 Ball State University Miller College of Business – Muncie, Indiana

Photo creditBall State University offers an online Master’s of Business Administration program with concentrations in Entrepreneurship, Finance, Health Economics, Policy, and Administration, Logistics and Supply Chain Management, and Sales Management; a certificate in Business Essentials for Professionals, Health Economics, Policy, and Administration, and Professional Sales Management, or delivered as a general MBA through the Miller College of Business. With three start times each year, this 30-credit hour program is classified as very affordable with a total tuition price below $14,999. The Miller College of Business receives its excellent business accreditation through the Association to Advance Collegiate Schools of Business. The AACSB is the gold standard for accrediting bodies in higher education. This degree “has a reputation for quality teaching that delivers the practical and rigorous experiences necessary to excel in today’s global and digital economy. All of this, plus convenience and personal attention, is wrapped into a degree that focuses on building your strategy, ethics, leadership knowledge and skills.” While the business school has recently been recognized by U.S. News & World Report as offering the 16^th best online MBA in the nation, core courses include Entrepreneurial Leadership, Statistics and Quantitative Methods, Information Systems, Accounting and Decision Making, Economic Analysis for Managers, Managerial Finance, Marketing Management, and Global Strategic Management.

Established in 1918, Ball State University is a four-year, public institution of higher learning with a main campus located in Muncie, Indiana. Operating under the school motto of “We Fly,” the university got its start as Indiana State Normal school and was committed to training public school teachers in the region. Receiving its regional accreditation through the Higher Learning Commission, the university delivers degrees at the associate, undergraduate, graduate, and doctoral and levels to the student body of 21,998 currently enrolled. Home of the Cardinals and the mascot Charlie Cardinal, the athletic department at Ball State supports men’s and women’s varsity sports teams which compete at the NCAA Division I level as members of the Mid-American Conference. The school’s official colors are cardinal and white.

Affordability Score: Very Affordable
OMBAT Ranking Score: 63.94

#3 University of Southern Indiana Romain College of Business – Evansville, Indiana

Photo creditAn online Master’s of Business Administration with concentrations in Accounting, Data Analytics, Engineering Management, Human Resources, and Healthcare Administration is delivered by the Romain College of Business at the University of Southern Indiana. This 30-credit hour program is classified as very affordable with a total tuition price below $14,999. The business school has recently been recognized by U.S. News & World Report as offering the 205^th best online MBA in the nation. The Romain College of Business receives its excellent business accreditation through the Association to Advance Collegiate Schools of Business. Criteria for acceptance into the online MBA program includes the submission of transcripts revealing the completion of an undergraduate degree from an accredited college or university, cumulative GPA of at least 2.5, GMAT score, current resume, and three letters of recommendation. Students with a graduate degree, GPA of 3.0 with two years of professional experience, or GPA of 2.5 with three years of professional work experience may qualify for a GMAT waiver. Courses within this program include Data Driven Decision Making, Leadership Skills and Innovation, Accounting for Decision Making and Control, Information Systems and Technology, Managerial Economics, Financial Management and Financial Markets, Marketing Strategies, and Strategic and International Management.

The University of Southern Indiana was established in 1965 as a regional campus of Indiana State University named Indiana State University-Evansville. Just 20 years later, the university was granted autonomy and its name was changed. Receiving its regional accreditation through the Higher Learning Commission, the university exists today as a four-year, public institution of higher learning with a main campus in Evansville, Indiana. Delivering degrees at the associate, undergraduate, graduate, and doctoral levels, USI oversees a student body of 10,668. Home of the Screaming Eagles, the official school colors of the University of Southern Indiana are cardinal, navy, and white. The athletic department at USI consists of men’s and women’s varsity sports teams which compete at the NCAA Division II level as members of the Great Lakes Valley Conference.

Affordability Score: Very Affordable
OMBAT Ranking Score: 63.69

#4 Purdue University Krannert School of Management – West Lafayette, Indiana

Photo creditThe Krannert School of Management at Purdue University features an online Executive Master’s of Business Administration program. This executive program is classified as expensive in affordability with a total tuition price between $50,000 and $99,999. U.S. News & World Report has reported an average base salary of a healthy $91,491 among business school graduates reflecting the potential for a solid return on the investment of education associated with this program. The Krannert School of Management receives its stellar business accreditation through the Association to Advance Collegiate Schools of Business. The business school states this program “concentrates class time into six residencies of one or two weeks, five of them at Purdue and one at an international location, scheduled over a 19-month period, offers fewer distractions and less travel, thereby minimizing interference with our students’ ongoing job-related travel demands and better knowledge retention than alternating weekend or evening programs, and facilitates career changes by accommodating job relocations required of the students during the program. This 48-credit hour program takes 19 months to complete. Required courses within this program include Business Analytics, Managerial Economics, Managing Behavior in Organizations, Marketing Management, Financial Management, Leadership, Operations Management, Strategic Management, Mergers & Acquisitions, Negotiations in Organizations, and Risk Management.

Home of the Boilermakers and mascots Boilermaker Special and Purdue Pete, Purdue University features the official school colors of old gold and black. The athletic department at Purdue supports men’s and women’s varsity sports teams which compete at the NCAA Division I level as powerhouse members of the Big 10 Conference. Purdue University is a four-year, public institution of higher learning with a main campus located in West Lafayette, Indiana. The university delivers degrees at the associate, undergraduate, graduate, and doctoral levels to the 41,513 students currently enrolled there. Purdue was established in 1869 as the state’s flagship, land-grant, sea-grant, and space-grant university. Receiving its regional accreditation through the Higher Learning Commission, the school is named after John Purdue, a successful businessman, donated land and funds in order to establish the college.

Affordability Score: Expensive
OMBAT Ranking Score: 62.00

#5 Indiana Institute of Technology College of Business – Fort Wayne, Indiana

Photo creditThe Indiana Institute of Technology’s College of Business features an excellent online Master’s of Business Administration program with specializations in Accounting, Health Care Management, Human Resource, Management, and Marketing. Qualifying students with the proper academic background may be able to waive up to six-credit hours of foundational courses and meet all requirements for this online MBA by completing 36-credit hours. This high-quality degree is classified as affordable with a total base tuition price between $15,000 and $19,999. The College of Business receives its excellent business accreditation through the International Assembly for Collegiate Business Education. This degree “focuses on examining an organization from a functional strategic approach. This approach includes emphasis on management, marketing, finance, accounting, and economic principles in both the domestic and international marketplaces. MBA students can become immersed in a concentration that best fits their goals.” Core courses within this program include Executive Management, Managerial Economics, Managerial Accounting, Financial Management, Business Statistics, and Business Policy & Strategy. The business school has recently been recognized by U.S. News & World Report as offering the 205^th best online MBA in the nation.

Established in 1930, Indiana Institute of Technology is a four-year, private, not-for-profit institution of higher learning with a main campus located in Fort Wayne, Indiana. The school was originally founded as Indiana Technical College under the leadership of John A. Kalbfleisch. Receiving its regional accreditation through the Higher Learning Commission, Indiana Tech delivers degrees at the associate, undergraduate, graduate, and doctoral and levels to the student body of 8,113 currently enrolled there. Home of the Warriors and the mascot, Maximus the Warrior, the athletic department at ITI supports 22 men’s and women’s varsity sports teams which compete within the NAIA as members of the Wolverine-Hoosier Athletic Conference. The school’s official colors are orange, black, and white.

Affordability Score: Affordable
OMBAT Ranking Score: 60.49

#6 Anderson University Falls School of Business – Anderson, Indiana

Photo creditThe Falls School of Business at Anderson University delivers a top-notch online Master’s of Business Administration program. This 37-credit hour program is classified as average in affordability with a total tuition price between $20,000 and $29,999. The Falls School of Business, which receives its excellent business accreditation through the Accreditation Council for Business Schools and Programs, believes “that students in business can be ‘salt and light’ in a world looking for hope, compassion, and meaning. Being Christian does not mean a compromise of competence. Being ‘in business’ does not mean a compromise of character.” The business school has designed this program to offer students a high-quality curriculum but with the needed convenience of an online format. Each course within the program consists of online discussions, interaction with instructors, and a high regard for application of concepts covered in class. This program begins with a required online introductory class which will get distance learners accustomed to the program’s format.

Home of the Ravens who wear the school colors of orange and black, the athletic department at Anderson University supports men’s and women’s varsity sports teams which compete at the NCAA Division III level as members of the Heartland Collegiate Athletic Conference. Anderson is a four-year, private not-for-profit institution of higher learning with a main campus located in Anderson, Indiana. The university delivers degrees at the associate, undergraduate, graduate, and doctoral levels to the 2,232 students currently enrolled there. Anderson University was founded in 1917 as the Anderson Bible Training School by the Church of God (of which it is still affiliated). The university receives its regional accreditation through the Higher Learning Commission and features “Academic and Christian Discovery” as its official school motto.

Affordability Score: Average
OMBAT Ranking Score: 59.78

#7 Oakland City University School of Business – Oakland City, Indiana

Photo creditOakland City University offers an excellent online Master’s of Business Administration through their School of Business. This 33-credit hour program is classified as affordable with a total tuition price between $15,000 and $19,999. The School of Business receives its excellent business accreditation through the International Assembly for Collegiate Business Education. The IACBE is one of the most-respected accrediting bodies in higher education. This degree “offered by Oakland City University produces graduates with the skills and expertise to excel into upper-management in any industry.” Courses within this excellent degree include Business Research Methods, Financial and Managerial Accounting, Financial Management, Management Information Systems, Marketing Management, Human Resource Management, Managerial Economics, Strategic Management and Operational Planning, and Leadership and Organizational Behavior. The graduate student enrollment process includes completing a free, online application, and submitting transcripts from all previously attended colleges and universities including proof of an undergraduate degree and a resume showing two years of work experience and three professional references.

Established in 1885, Oakland City University is a four-year, private not-for-profit institution of higher learning with a main campus located in Oakland City, Indiana. Operating under the school motto of “Enter to Learn, Go Forth to Serve,” the university was originally founded as Oakland City College and got its start after a prompting by the Educational Board of General Baptists. Receiving its regional accreditation through the Higher Learning Commission, the university delivers degrees at the associate, undergraduate, graduate, and doctoral levels to the student body of 1,469 currently enrolled. Home of the Mighty Oaks, the athletic department at OCU supports men’s and women’s varsity sports teams which compete as members of the National Christian College Athletic Association. The school’s official colors are white and Columbia blue.

Affordability Score: Affordable
OMBAT Ranking Score: 53.80

#8 University of Saint Francis Keith Busse School of Business and Entrepreneurial Leadership – Fort Wayne, Indiana

Photo creditOne of the nation’s best online Master’s of Business Administration programs, with a concentration in Sustainability or delivered as a general MBA, is offered by the Keith Busse School of Business and Entrepreneurial Leadership at the University of Saint Francis. This 36-credit hour program is classified as affordable with a total tuition price between $15,000 and $19,999. The business school receives its excellent business accreditation through the Accreditation Council for Business Schools and Programs. This program has been designed to be completed in just one year. Core courses within this program include Managerial Accounting, Financial Management, Ethics & Franciscan Values Business, Quant Found for Decision Support, Leading Change, Human Resource Management, Project Management, Nonprofit Governance and Volunteer Management. Admission requirements for this degree include an undergraduate degree from an accredited college or university, a 2.75 cumulative GPA on a 4.0 scale, and students lacking a business undergraduate degree may have additional requirements.

The University of Saint Francis was established as Saint Francis College in 1890 in Lafayette, Indiana by the Sisters of St. Francis of Perpetual Adoration. The campus was moved to its current location in 1944. The school was awarded its university status in 1998. Receiving its regional accreditation through the Higher Learning Commission, the university exists today as a four-year, private not-for-profit institution of higher learning with a main campus in Fort Wayne, Indiana. Delivering degrees at the associate, undergraduate, graduate and doctoral levels, USF oversees a student body of 2,212. Home of the Cougars, the official school colors of the university are royal blue and white. The athletic department at Saint Francis consists of 13 men’s and women’s varsity sports teams which compete at the NAIA level as members of the Crossroads League.

Affordability Score: Affordable
OMBAT Ranking Score: 52.88

#9 Bethel College Division of Adult and Graduate Studies – Mishawaka, Indiana

Photo creditThe Division of Adult and Graduate Studies at Bethel College features an online Master’s of Business Administration program with concentrations in Management Science and Leadership. This 36-credit hour program is classified as affordable with a total tuition price between $15,000 and $19,999. Structured to be completed in just 24 months, students complete one course at a time, one session each week. This degree equips students with “the necessary knowledge, skills, and tools to fully comprehend the theories and practices of business to include management, accounting, marketing, economics, leadership and human relations. Upon completion, students should possess the ability to apply what they have learned to managerial decision making, organizational strategy, and problem solving.” The core courses within this program include Management in Action, Global Business Environment, Marketing Strategy & Policy, Accounting and Managerial Decision Making, Business Policy & Ethical Decision Making, Legal Environment of Business, and Organizational Behavior.

Home of the Pilots, the athletic department at Bethel College supports eight men’s and nine women’s varsity sports teams which compete within the National Association of Intercollegiate Athletics as members of the Crossroads League. Bethel College is a Christian four-year, private not-for-profit institution of higher learning with a main campus located in Mishawaka, Indiana. The school delivers degrees at the associate, undergraduate, and graduate levels to the 1,639 students currently enrolled there. Bethel was established in 1947 and remains today as a member of the Council for Christian Colleges and Universities and the Council of Independent Colleges. Receiving its regional accreditation through the Higher Learning Commission of the North Central Association of Colleges and Schools, Bethel College is affiliated with the Missionary Church and operates under the motto of “With Christ at the Helm.”

Affordability Score: Affordable
OMBAT Ranking Score: 49.24

#10 Trine University College of Graduate and Professional Studies – Angola, Indiana

Photo creditTrine University’s College of Graduate and Professional Studies features a remarkable online Master’s of Business Administration program. This 33-credit hour degree is classified as affordable with a total tuition price between $15,000 and $19,999. The focus of this 100% online MBA, which has been designed to be completed in just one year, is business strategy, decision making, global finance, and market development. Core courses within this program include Statistics and Quantitative Methods, Business Strategy & Decision Making, Strategic Marketing and Management, Micro & Macro Economic Decision Making, Corporate Finance, and Managerial Accounting and Finance. Candidates interested in this program are encouraged to submit all official transcripts, three letters of recommendation, an essay, GMAT/GRE score, and a resume to get the application process started. Electives within this program include Corporate Taxation, Advanced managerial Accounting and Finance, Financial Markets & Institutions, and Strategic Human Resource Management.

Established in 1884 as Tri-State Normal College, today’s Trine University is a four-year, private not-for-profit institution of higher learning with a main campus located in Angola, Indiana. The university was originally established as a training school for public school teachers and was renamed Tri-State College before achieving its university status in 1975. Receiving its regional accreditation through the Higher Learning Commission the university delivers degrees at the associate, undergraduate, graduate, and doctoral levels to the student body of 3,712 currently enrolled there. Home of the Thunder and mascot Storm the white tiger, the athletic department at Trine supports 21 men’s and women’s varsity sports teams which compete at the NCAA Division III level as members of the Michigan Intercollegiate Athletic Association. The school’s official colors are Navy blue, white, and Vegas gold.

Affordability Score: Affordable
OMBAT Ranking Score: 48.95

Methodology

To find the top Online MBA programs in Indiana, a list of over 470 distance MBA degree programs was collected, and each degree program was evaluated first for a location in the state of Indiana, and then ranked on the following factors:

Estimated Tuition Cost (25%): Each MBA was analyzed to find the estimated total base tuition cost. All financial data was gathered from the most recent information given on each program or school website. The base tuition was calculated for the entirety of the degree, but does not included fees, books, or room and board; with the exception of MBA programs that use all-inclusive figures. For schools that offer a lower in-state tuition rate, the in-state pricing is used. Twenty-five percent of the final ranking score is calculated from this figure.

Based on this base tuition data, each program is given an Affordability Score:

Very Expensive = $100,000+
Expensive = $50,000-$99,999
Above Average = $30,000-$49,999
Average = $20,000-$29,999
Affordable = $15,000-$19,999
Very Affordable = $0-$14,999

Accreditation (25%): Accreditation plays an important role in education, by helping prospective students identify which school has gone to extensive measures to reach high national and global standards in its research and delivered education. Each program in this list was evaluated on whether it holds a regional accreditation from one of the six institutions that are recognized by the U.S. Department of Education.

Additional business accreditations affect an MBA’s brand and prestige, which can thus affect a graduate’s competitive advantage in the job market. Each school is ranked on if the online MBA program is accredited from one of the top business accrediting institutions: ACBSP, IACBE, or AACSB. AACSB is widely regarded as the gold-star standard of business accreditation in the world, and thus schools that hold this accreditation are given the highest marks. Twenty-five percent of the final ranking score is calculated from this figure.

Average Base Salary (25%): The salary data is highlighted in this top online MBA ranking because it helps prospective students explore the affect an online MBA degree can have on a professional’s salary. The average base salary is collected from the 2018 Best Business School Ranking by US News and World Report. Programs without a recorded average base salary from US News and World Report was calculated at zero because of no available third-party data. Twenty-five percent of the final ranking score is calculated from this figure.

Prestige (25%): The prestige for each program is calculated by evaluating lists from some of the most prestigious online MBA rankings systems: US News and World Report’s Online MBA Ranking, the Princeton Review’s Online MBA Ranking, the Financial Times’ Global Online MBA Ranking, and Quacquarelli Symonds’ Distance Online MBA Ranking. Each online MBA was evaluated on how many rankings included their program. Twenty-five percent of the final ranking score is calculated from this figure.

All of the data was weighted equally, averaged, and then calculated on a 100-point scale. This score is the OMBAT Ranking Score, which provides the ranking order for this list. By evaluating the tuition cost, accreditation, average base salary, and prestige, this ranking helps prospective students find the highest quality online MBA programs in Indiana.