Guide to Affordable Online MBAs With No GMAT Requirement
AccreditedSchoolsOnline.org is committed to delivering content that is objective and actionable. To that end, we have built a network of industry professionals across higher education to review our content and ensure we are providing the most helpful information to our readers.
Drawing on their firsthand industry expertise, our Integrity Network members serve as an additional step in our editing process, helping us confirm our content is accurate and up to date. These contributors:
- Suggest changes to inaccurate or misleading information.
- Provide specific, corrective feedback.
- Identify critical information that writers may have missed.
Integrity Network members typically work full time in their industry profession and review content for AccreditedSchoolsOnline.org as a side project. All Integrity Network members are paid members of the Red Ventures Education Integrity Network.
In today’s turbulent economy, you may need to boost your career on a budget. Fortunately, many schools offer accessible, affordable online MBA programs. These cheaper degrees provide the same credentials and benefits that more expensive programs do.
While the GMAT was once a rite of passage for MBA students, the test has declined in popularity in recent years. Today, fewer schools require the test, and some provide waivers for qualifying applicants.
Attending a school with no GMAT requirement can help you save time and money: In the United States, the test costs $275 at a testing center or $300 online. In addition, test prep can often take six months. Thus, applying to no-GMAT business schools can help you start earning your MBA more quickly.
Use our guide to learn more about affordable online MBA programs with no GMAT requirement.
Popular Online Programs
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
Is an Affordable MBA With No GMAT Requirement Worth It?
If all that stands between you and an MBA is money, there may be options that fit your budget and circumstances. Even the cheapest online MBA program can provide you with the full educational experience and benefits of an advanced business degree.
MBAs vary greatly in cost. The most affordable degrees run less than $10,000, while the priciest programs can cost nearly $200,000. Is there enough difference in the outcome to justify so much price variance?
Certainly, prestigious schools have brand recognition, academic prowess, and robust alumni networks. For many people, however, an MBA from an accredited school with a strong local presence offers similar value for a lower price.
As of July 2024, Payscale reports the average salary for workers with MBAs is $90,000 — a higher-than-average wage. However, this earning potential may not be enough to justify investing in a high-tuition degree, so the cheapest MBA may better suit your needs.
What Is the Average Cost of an Online MBA?
According to the National Center for Education Statistics, for the 2019-2020 academic year, the average tuition and fees for an online MBA program was $11,171. For full-time students, this average was $13,278, which equates to a total cost of about $26,500 for a two-year program.
Business Schools That Offer Affordable Online MBAs — No GMAT Required
Below is a list of nonprofit schools that offer online MBA programs that do not require GMAT scores for admission and cost under $26,500 in total tuition and fees. Use the table below to compare the programs’ estimated costs, lengths, and accreditation.
| School | Location | Estimated Total Program Cost | Program Length | Programmatic Accreditation |
|---|---|---|---|---|
| Boston University | Boston, Massachusetts | $25,000 | 24+ months | AACSB |
| University of Illinois Urbana-Champaign | Champaign, Illinois | $24,984 | 24-60 months | AACSB |
| Southern Oregon University | Ashland, Oregon | $19,350 | 16+ months | ACBSP |
| Northern Kentucky University | Highland Heights, Kentucky | $17,259 | 12+ months | AACSB |
| Louisiana State University Shreveport | Shreveport, Louisiana | $14,370 | 10+ months | AACSB |
Boston University
Offered through the Questrom School of Business, BU’s 100% online MBA program can take just two years to complete.
The curriculum requires 45 credit hours divided into six integrated modules, including creating value for business and society and fostering an innovative mindset. Each module incorporates both synchronous online learning sessions and asynchronous educational activities. You should plan to devote 15-20 hours per week to completing the requirements for each module.
To apply, you must demonstrate academic prowess and potential for leadership performance. While the GMAT is not required, submitting your scores can prove your potential to excel in quantitative coursework.
University of Illinois Urbana-Champaign
Students can earn Illinois’ online MBA through the Gies College of Business. Enrollees in this customizable program can set their own pace, finishing the degree in 24-60 months. Illinois offers four start dates each year for the online MBA: January, March, August, and October.
Learners build a course sequence to meet their career goals. Each class features live lectures, but students can also watch recorded lectures on their own time if needed. Tuition is charged on a per-course basis. Between live sessions, enrollees engage in self-directed study. Each course requires 10-15 hours of study per week.
Southern Oregon University
SOU’s fully online MBA program allows you to complete your degree in as little as 16 months. The school offers a 45-credit general track MBA and seven potential concentrations, including business analytics, healthcare administration, and corporate sustainability.
Core courses include economic analysis, managerial accounting for decision-making, and legal and ethical issues in business and management. Each course lasts seven weeks, and the program concludes with a capstone project.
Applicants must have a bachelor’s degree with a GPA of 3.0 or better or a GPA of 2.75 and three years of experience. You can continue working while attending school and pay for one class at a time.
Northern Kentucky University
You can earn NKU’s 100% online MBA in as little as 12 months. This 33-credit program charges $507 per credit for both Kentucky residents and non-resident enrollees.
The MBA requires 16 credits of essential courses, 12 credits from a specialization stack, and five capstone credits. Core courses include marketing in organizations, accounting in a corporate environment, and strategies for high-performing organizations. You have 14 stack options: cybersecurity, sales, finance, and global supply chain management among them.
To gain admission, potential enrollees must possess an undergraduate degree with a GPA of 3.0 or better or a GPA of 2.5 plus three years of experience. NKU waives application fees for military members, veterans, and school alumni.
Louisiana State University Shreveport
LSUS’ fully online MBA program requires students to earn just 30 credits and can be completed in onlyy 10 months. As an MBA student, you complete seven core courses and three electives.
Core courses include organizational behavior, economic analysis for management, and managerial use of accounting data. You may focus your three electives around one of nine concentration areas, including data analytics, international business, and hospitality and casino management. An international experience that combines on-site instruction with real-world business exposure is also an option.
Applicants must have at least a bachelor’s degree, and LSU requests additional documentation from prospective students with GPAs below 3.0.
Does My MBA Need to Be Accredited?
Institutional accreditation is critical for any degree program; it legitimizes your degree and is a requirement for federal financial aid eligibility. You may also want to look for approval from one of the top programmatic accreditors for MBA programs:
- The Association to Advance Collegiate Schools of Business:AACSB accredits about 6% of business schools, including online, hybrid, and on-campus programs. You can find AACSB-accredited business schools in the U.S. and worldwide.
- The Accreditation Council for Business Schools and Programs:Founded in 1988, ACBSP accredits more than 750 schools in the U.S. and several other countries. This accreditor may focus more on teaching-oriented schools than research-heavy institutions.
- The International Accreditation Council for Business Education: IACBE began in 1997 with the goal of providing a mission-driven and outcomes-based accreditation process. Many of its accredited programs are offered by liberal arts colleges.
FAQ About Affordable Online MBAs With No GMAT
Can you get an MBA without taking the GMAT?
Yes, you can get an MBA without taking the GMAT, as not every school requires this standardized test during the admissions process.
How do I get the GMAT waived?
Some schools that require MBA applicants to send GMAT scores also offer waivers, though the stipulations for these waivers vary by school. In some cases, a high undergraduate GPA can qualify you for a test score exemption, while other institutions waive the requirement for workers with extensive professional experience.
Can I get an MBA for free online?
You may be able to get your MBA for free online by stacking scholarships, fellowships, and employer reimbursements to meet 100% of your tuition costs. However, be wary of schools promising a totally free graduate degree. Often, these programs lack institutional accreditation, and some even engage in predatory practices.
How can I take the GMAT for free?
The Graduate Management Admission Council offers GMAT fee waivers for prospective test-takers experiencing economic hardship. To receive a waiver, you can contact the program director at your undergraduate institution or the business school you are applying to. Each school can give out up to 10 of these waivers.
What MBA programs waive the GMAT?
During the COVID-19 pandemic, about 36% of business schools waived the GMAT for admission, according to a report from Kaplan. Many of those schools made their waivers permanent, but others reinstated their requirements for GMAT scores over time.
Business schools can change their admissions requirements. Before registering for the GMAT, contact your prospective program to inquire about their unique admission requirements.
