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    Best Online MBA Programs: No GMAT Required

    Dr. Rhiannon Pickin
    Dr. Rhiannon Pickin

    Rhiannon has previously worked as a copywriter and has a PhD in crime history. She loves horror games, pub quizzes and her two adopted cats.

    Best Online MBA Programs: No GMAT Required
    Contents

      Not all online MBA programs require you to take the GMAT.

      We rank the best-value online MBA programs with GMAT waiver options or no GMAT requirement.

      The online MBAs with the lowest graduate debt are also listed.

      If you’re applying to online master’s of business administration (MBA) programs, you’ll probably know about the Graduate Management Admission Test (GMAT). A growing number of quality business schools have removed their GMAT requirement altogether or are waiving it for applicants who fulfill other admissions criteria. This is great news for anyone with bad GMAT scores or a lack of time and money to take the test.

      What is the GMAT?

      • Costs $250 to register.
      • Takes around 3 hours and 30 minutes to complete.
      • Made up of 79 questions spread across quantitative, verbal, and integrated reasoning sections; it also includes an analytical writing assessment.
      • Scores range between 200 and 800.
      • The average GMAT score in 2021 was 658.
      • You’ll need a higher GMAT score if you want to attend a more prestigious school.

      Here we rank the top accredited online MBAs with GMAT waiver options or no GMAT requirements at all. We used our economic score metric to find the best-value programs. We found 255 online MBA programs that are accredited by the AACSB or the ACBSP, which are the two main business school accreditation councils. 201 of these programs have enough information about graduate outcomes to generate an economic score.

      » Read: Best 1-year MBA programs

      How we compare value

      We use these 3 key metrics to analyze the return on investment offered by different master’s programs:

      • Debt-to-earnings ratio compares total debt against annual earnings 3 years after graduation – a ratio of 0.5 would indicate a debt level of 50% of their earnings, and so on.
      • EarningsPlus tells you how much more graduates at a certain master’s program earn compared to the average MBA grad, or “benchmark”.
      • Economic score (ES) combines debt-to-earnings ratio and EarningsPlus into a single figure – the lower, the better.

      For more details, see our methodology.

      What is an MBA with no GMAT?

      Some colleges will not consider your GMAT scores at all, while others make submitting them optional. It’s becoming more common for MBA programs to not ask applicants for their GMAT scores, which is why in 2021 there were roughly 40,000 GMAT test takers in the US, compared to 80,000 in 2017.

      There are, however, some benefits to submitting a GMAT score if a particular school makes this an option, and you have the time and money to take the test. Submitting a strong GMAT score can:

      • Strengthen an application if you have a low GPA.
      • Pay off financially, as some colleges, like Florida Southern University, offer financial incentives for applicants who submit their GMAT score (even though it’s optional).

      Popular accredited online business programs

      www.degreechoices.com is an advertising-supported site. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site.

      Top 10 online MBA programs: no GMAT requirements

      #1 in Online MBA no GMAT
      Economic score 0.13

      The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

      Earnings $143,666

      Median earnings of all students 4 years after graduating.

      Debt to earnings 0.2

      The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.

      Debt $32,567

      The total debt accrued by the median student at the time of graduation.

      Virginia Tech, a renowned public research university, offers an online MBA tailored for working professionals. The program combines 50% asynchronous coursework and 50% synchronous virtual meetings. Students can choose from a variety of tracks, including cybersecurity, healthcare IT, and entrepreneurship. Degree completion requires a capstone project or global immersion experience. The program is entirely online but students are encouraged to join the wider Virginia Tech community at in-person events on campus.

      …  See more
      #2 in Online MBA no GMAT

      Western Governors University

      Salt Lake City, Utah

      Economic score 0.14

      The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

      Earnings $85,330

      Median earnings of all students 4 years after graduating.

      Debt to earnings 0.2

      The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.

      Debt $13,165

      The total debt accrued by the median student at the time of graduation.

      Western Governors University (WGU) is a private, non-profit, online university founded by 19 U.S. governors in 1997. It is among the most respected online universities in the country. The WGU online MBA program covers essential business topics such as financial management, data-driven decision-making, organizational leadership, and strategic innovation. WGU’s competency-based approach allows students to progress through the program by demonstrating their knowledge and skills in specific areas, providing a personalized and efficient learning experience.

      WGU is known for its affordable tuition and flexibility, offering a flat-rate tuition model that allows students to complete as many courses as they can within a 6-month term.

      …  See more
      #3 in Online MBA no GMAT

      George Mason University

      Fairfax, Virginia

      Economic score 0.15

      The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

      Earnings $134,789

      Median earnings of all students 4 years after graduating.

      Debt to earnings 0.3

      The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.

      Debt $38,186

      The total debt accrued by the median student at the time of graduation.

      George Mason University’s online MBA program focuses on developing essential business skills in a flexible format. Accredited by the AACSB, the curriculum covers key disciplines while offering elective options tailored to individual interests.

      The following 4 areas of study are emphasized:

      • collaborative communication and leadership
      • knowledge of functional business disciplines
      • analytical decision making
      • contemporary issues in business

      GMU’s online MBA offers an asynchronous format, personalized academic advising, and networking opportunities. Students may also participate in global residency programs to gain international perspectives.

      …  See more
      #4 in Online MBA no GMAT

      Johns Hopkins University

      Baltimore, Maryland

      Economic score 0.18

      The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

      Earnings $130,948

      Median earnings of all students 4 years after graduating.

      Debt to earnings 0.3

      The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.

      Debt $38,612

      The total debt accrued by the median student at the time of graduation.

      As a distinguished private research university, Johns Hopkins offers an online MBA program tailored to accommodate the schedules of working professionals. The curriculum balances asynchronous coursework with synchronous virtual interactions and maintains the high standards associated with the prestigious Johns Hopkins name. 

      Students can pursue diverse concentrations, including financial businesses, healthcare management, or entrepreneurship. Degree completion involves undertaking a capstone project or an immersive learning experience. Although the program is entirely online, students have the opportunity to engage with the wider Johns Hopkins community through in-person events held on campus.

      …  See more
      #5 in Online MBA no GMAT

      Kettering University

      Flint, Michigan

      Economic score 0.19

      The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

      Earnings $119,823

      Median earnings of all students 4 years after graduating.

      Debt to earnings 0.3

      The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.

      Debt $31,796

      The total debt accrued by the median student at the time of graduation.

      Kettering University’s online MBA offers a rigorous curriculum that emphasizes innovation and entrepreneurship, providing students with the knowledge and tools to identify and capitalize on new business opportunities. The 40-credit hour program includes 7 core courses and 6 graduate certificates, such as Global Leadership or Supply Chain Management. The program is 100% online, and students can begin at any of the eight starting points throughout the year. Financial aid and military benefits are available to qualifying students. The program can be completed in 18 months.

      …  See more
      #6 in Online MBA no GMAT

      Drake University

      Des Moines, Iowa

      Economic score 0.20

      The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

      Earnings $102,913

      Median earnings of all students 4 years after graduating.

      Debt to earnings 0.2

      The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.

      Debt $24,446

      The total debt accrued by the median student at the time of graduation.

      Drake University’s online MBA program offers a comprehensive and flexible education, designed for working professionals seeking to enhance their business skills. Students can tailor their learning experience by choosing from a range of areas of emphasis to match their career goals.

      Key areas of emphasis include:

      • Accounting
      • Business Analytics
      • Health Care Management
      • Cybersecurity
      • Leadership & Human Capital Development
      • Public and Nonprofit Management

      The program’s asynchronous format allows students to access course materials and engage in discussions at their convenience. Drake University provides personalized academic advising, networking opportunities, and access to various resources.

      …  See more
      #7 in Online MBA no GMAT
      Economic score 0.20

      The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

      Earnings $79,912

      Median earnings of all students 4 years after graduating.

      Debt to earnings 0.2

      The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.

      Debt $18,311

      The total debt accrued by the median student at the time of graduation.

      The online MBA at University of Southern Indiana offers an affordable and flexible option for students seeking to advance their careers in business. The programs are entirely online, and students can complete their degree in as little as 11 months. The program offers multiple business concentrations, such as accounting, data analytics, and engineering management, allowing students to tailor their education to their career goals.

      …  See more
      #8 in Online MBA no GMAT

      University of South Dakota

      Vermillion, South Dakota

      Economic score 0.21

      The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

      Earnings $95,269

      Median earnings of all students 4 years after graduating.

      Debt to earnings 0.3

      The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.

      Debt $25,845

      The total debt accrued by the median student at the time of graduation.

      The University of South Dakota’s online MBA program delivers a versatile and well-rounded education, created for working professionals aiming to advance their business expertise. Learners can adapt their educational experience by selecting from an array of specializations, including:

      • Business Analytics
      • Finance
      • Health Services Administration
      • Marketing
      • Operations & Supply Chain Management

      The program’s asynchronous structure permits students to access learning materials and join discussions at suitable times. The University of South Dakota fosters student achievement by providing customized academic guidance, opportunities for networking, and a variety of resources.

      …  See more
      #9 in Online MBA no GMAT

      Rowan University

      Glassboro, New Jersey

      Economic score 0.35

      The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

      Earnings $96,520

      Median earnings of all students 4 years after graduating.

      Debt to earnings 0.4

      The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.

      Debt $41,000

      The total debt accrued by the median student at the time of graduation.

      Rowan University’s online MBA program is designed for busy professionals who seek a flexible and convenient way to advance their business careers. The program allows students to choose two related concentrations for significant depth, two distinct concentrations for broader knowledge, or one concentration and three elective courses to gain a wide perspective from varying disciplines. Concentration options include cannabis commercialization, entrepreneurship, and finance. The MBA is also available in face-to-face format via evening classes on Rowan’s main campus in Glassboro, NJ.

      …  See more

      Worcester Polytechnic Institute

      Worcester, Massachusetts

      Economic score N/A

      Some schools may not provide complete data to IPEDS, impacting our ability to rank them. Unavailable information is marked N/A.

      Earnings $148,653

      Median earnings of all students 4 years after graduating.

      Debt to earnings N/A

      Some schools may not provide complete data to IPEDS, impacting our ability to rank them. Unavailable information is marked N/A.

      Debt N/A

      Some schools may not provide complete data to IPEDS, impacting our ability to rank them. Unavailable information is marked N/A.

      The WPI Business School provides a 2-year online MBA program that is tech-focused and designed to teach you the core principles of business leadership at the intersection of business and technology. With a choice of 7 focus areas and 18 specializations, including analytics, finance, marketing, and operations, you can customize your education to meet your career goals. The program is flexible and fully online, allowing you to balance your studies with your professional and personal commitments.

      …  See more

      What is a GMAT waiver?

      Some colleges that ask you to submit a GMAT score may waive this requirement under certain conditions. These schools will either ask you to submit a GMAT waiver request yourself, or they’ll automatically waive it if you apply to the program with relevant transcripts and supporting documents. The circumstances in which they might waive the GMAT score requirement can include the following:

      Popular online MBA programs

      www.degreechoices.com is an advertising-supported site. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site.

      Top 10 online MBA programs: GMAT waivers

      #1 in Online MBA – GMAT waiver
      Economic score 0.14

      The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

      Earnings $91,564

      Median earnings of all students 4 years after graduating.

      Debt to earnings 0.2

      The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.

      Debt $17,916

      The total debt accrued by the median student at the time of graduation.

      The University of Louisiana at Monroe offers an online MBA program designed to prepare students for leadership roles in the business world. This program covers core business topics such as accounting, finance, marketing, management, and more, and is taught by experienced faculty members who are experts in their fields. The online format provides students with the flexibility to complete their degree at their own pace, while still receiving a high-quality business education.

      …  See more
      #2 in Online MBA – GMAT waiver

      James Madison University

      Harrisonburg, Virginia

      Economic score 0.14

      The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

      Earnings $120,114

      Median earnings of all students 4 years after graduating.

      Debt to earnings 0.2

      The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.

      Debt $24,750

      The total debt accrued by the median student at the time of graduation.

      James Madison University offers a comprehensive online MBA program designed to provide students with the knowledge and skills needed to succeed in today’s global business environment. This program features a flexible curriculum that covers topics such as accounting, finance, marketing, management, and more. Additionally, JMU’s online MBA program offers 3 concentrations:

      • Executive Leadership
      • Information Security
      • Innovation

      JMU is accredited by the AACSB, ensuring the highest quality of business education.

      …  See more
      #3 in Online MBA – GMAT waiver
      Economic score 0.18

      The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

      Earnings $96,804

      Median earnings of all students 4 years after graduating.

      Debt to earnings 0.2

      The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.

      Debt $20,500

      The total debt accrued by the median student at the time of graduation.

      The University of North Texas offers a highly respected online MBA program designed to equip students with the skills needed to succeed in today’s business world. The program is fully accredited by the Association to Advance Collegiate Schools of Business (AACSB), ensuring high academic standards and quality. The online MBA is flexible and can be completed in as little as 14 months, depending on the pace of the student. The curriculum covers a wide range of topics, including accounting, finance, marketing, and management.

      …  See more
      #4 in Online MBA – GMAT waiver

      Auburn University

      Auburn, Alabama

      Economic score 0.18

      The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

      Earnings $129,079

      Median earnings of all students 4 years after graduating.

      Debt to earnings 0.3

      The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.

      Debt $41,000

      The total debt accrued by the median student at the time of graduation.

      Auburn University’s online MBA program includes 9 core business courses and 4 electives. Students can progress through the degree at their own pace up to 6 years. The program is AACSB-accredited, ensuring a high-quality education that meets the highest standards of business education. Several concentrations are available, including Finance, Information Systems, and Business Analytics, and students have access to a dedicated career services center that provides support with job search strategies and interview preparation.

      …  See more
      #5 in Online MBA – GMAT waiver

      University of Hartford

      West Hartford, Connecticut

      Economic score 0.18

      The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

      Earnings $109,915

      Median earnings of all students 4 years after graduating.

      Debt to earnings 0.2

      The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.

      Debt $26,383

      The total debt accrued by the median student at the time of graduation.

      The University of Hartford’s online MBA program requires completion of 12 classes for a total of 36 credits. The program offers 11 concentrations:

      • Accounting
      • Business Analytics
      • Entrepreneurial Studies
      • Finance
      • Healthcare Management
      • International Business
      • Management
      • Marketing
      • Project Management
      • Risk Management and Insurance
      • Supply Chain Management
      …  See more
      #6 in Online MBA – GMAT waiver

      Frostburg State University

      Frostburg, Maryland

      Economic score 0.19

      The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

      Earnings $94,885

      Median earnings of all students 4 years after graduating.

      Debt to earnings 0.2

      The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.

      Debt $20,500

      The total debt accrued by the median student at the time of graduation.

      Frostburg State University’s online MBA provides students with a solid foundation in business administration. This program is designed to be completed in 18-24 months and can be taken entirely online. The curriculum covers a wide range of topics including accounting, finance, marketing, operations, and management. Students can also choose to specialize in one of three concentrations: Healthcare Management, Business Analytics, or Management. The program operates on a 7-week course model, with 6 intakes per year.

      …  See more
      #7 in Online MBA – GMAT waiver

      Santa Clara University

      Santa Clara, California

      Economic score 0.19

      The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

      Earnings $160,757

      Median earnings of all students 4 years after graduating.

      Debt to earnings 0.4

      The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.

      Debt $59,170

      The total debt accrued by the median student at the time of graduation.

      Santa Clara University’s Online MBA program, accredited by the AACSB, is tailored to meet the needs of Silicon Valley professionals, providing a dynamic and flexible learning experience. The curriculum includes core courses in business fundamentals, specifically designed for the region’s unique business environment. Students can further specialize by choosing from four concentrations: Data Science and Business Analytics, Leading Innovative Organizations, Marketing, and Finance.

      …  See more
      #8 in Online MBA – GMAT waiver

      Mississippi State University

      Mississippi State, Mississippi

      Economic score 0.20

      The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

      Earnings $105,662

      Median earnings of all students 4 years after graduating.

      Debt to earnings 0.3

      The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.

      Debt $30,950

      The total debt accrued by the median student at the time of graduation.

      Mississippi State University’s Online MBA program, accredited by AACSB International, is designed to provide a flexible and engaging educational experience for working professionals. The 30-credit hour curriculum covers core business courses, and with 5 annual start dates, students can easily adapt their studies to their personal schedules.

      #9 in Online MBA – GMAT waiver
      Economic score 0.27

      The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

      Earnings $75,736

      Median earnings of all students 4 years after graduating.

      Debt to earnings 0.3

      The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.

      Debt $20,106

      The total debt accrued by the median student at the time of graduation.

      Emporia State University’s online MBA is delivered in an accelerated, 7-week format. This program offers a flexible curriculum that covers core business topics such as accounting, finance, marketing, management, and more. Note that if you don’t hold an undergraduate business degree, you must take an additional 6 credit hours of foundation courses. Students can choose from three concentrations: Accounting, Information Systems, or Marketing.

      …  See more
      #10 in Online MBA – GMAT waiver

      Southeast Missouri State University

      Cape Girardeau, Missouri

      Economic score 0.29

      The Economic Score is the combination of debt-to-earnings ratio and earningsplus. We use the economic score to determine a graduate program’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

      Earnings $77,936

      Median earnings of all students 4 years after graduating.

      Debt to earnings 0.3

      The debt-to-earnings ratio is calculated by dividing student debt upon graduation by the annual salary. A debt to earnings ratio of 1 means that annual educational debt is the same as annual earnings.

      Debt $21,836

      The total debt accrued by the median student at the time of graduation.

      Southeast Missouri State University’s Online MBA program has a 33-credit hour curriculum with 6 concentrations: General Management, Sport Management, Healthcare Administration, Entrepreneurship, Marketing, and International Business. The program offers six start dates throughout the year, enabling students to begin their studies at their convenience.

      Online MBA programs: no GMAT vs GMAT waiver

      There are very few downsides to enrolling in a program that does not require the GMAT vs one that does. Top programs in both categories boast average graduate outcomes that are very similar.

      Top 10 online MBAs with no GMAT

      Economic score: 0.20

      Debt: $28,025

      Graduate salary: $98,869

      Debt-to-earnings ratio: 0.28

      EarningsPlus: +$27,074

      Top 10 online MBAs with GMAT waiver

      Economic score: 0.19

      Debt: $27,554

      Graduate salary: $97,663

      Debt-to-earnings ratio: 0.27

      EarningsPlus: +$29,829

      The very slight differences between earnings, economic scores, debt amounts, and debt-to-earnings ratios make the programs in both rankings almost equally good value for money on average.

      » Read: Taking the GMAT vs the GRE for an MBA

      What’s the cheapest online MBA?

      The graduate debt for the 201 online MBAs we analyzed ranges from $13,235 to $105,828, with an average debt burden of $36,393. The most affordable programs (whose graduates emerge with the least amount of debt) are as follows:

      5 cheapest online MBAs: no GMAT (lowest debt)

      1. University of the Cumberlands – $13,098
      2. Western Governors University – $13,235
      3. University of Tulsa – $13,293
      4. CUNY Graduate School and University Center – $14,650
      5. Northwest Missouri State University – $14,821

      5 cheapest online MBAs: GMAT waiver (lowest debt)

      1. University of Tulsa – $13,2932.
      2. Emporia State University (no. 3. in the ES rankings) – $14,9733.
      3. Texas A & M International University – $15,3914.
      4. University of Maine – $16,2565.
      5. Southeast Missouri State University (no. 7 in the ES rankings) – $17,301

      Nevertheless, while a cheap sticker price may be tempting, choosing a college based only on low graduate debt may not be the best choice in the long-term.

      » Read: The fastest online MBA programs

      Why online MBAs with the least graduate debt aren’t always the best option

      When we look at our rankings, the top 20 online MBAs with the lowest debt generally have worse graduate salaries compared to programs with the best economic scores.

      Top 20 by ES (no GMAT and GMAT waiver)

      Economic score: 0.20

      Debt: $27,790

      Graduate salary: $98,226

      Debt-to-earnings ratio: 0.28

      EarningsPlus: +$28,452

      Top 20 by smallest debt burden (no GMAT and GMAT waiver)

      Economic score: 0.33

      Debt: $17,487

      Graduate salary: $63,368

      Debt-to-earnings ratio: 0.29

      EarningsPlus: -$4,027

      While the programs in our economic score rankings are not the cheapest option, they lead to better earnings on average down the road. This increases their investment value.

      Graduates aren’t always worse off if they choose one of these more expensive online MBAs with a higher economic score. Plus, the massive $32,479 difference in EarningsPlus shows that the online MBA programs we’ve ranked by economic score are a better investment compared to the programs with the least graduate debt.

      Final thoughts

      Whether you’re looking for an accredited online MBA with no GMAT requirements, or you qualify for a GMAT waiver, there are plenty of accredited online programs to choose from. It’s worth keeping in mind though that some of these best-value programs don’t always result in less debt, as they lead to higher earnings. Use our rankings – based on each school’s economic score – to help you find the online GMAT-optional MBAs that offer you the best value for your money.

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