The Best MBA for Entrepreneurs
Do you aspire to run a company someday? Does the idea of spotting and acting on profitable opportunities excite you? If so, you might have the makings of an entrepreneur.
Being successful as an entrepreneur requires a confluence of capital, skill, and a little luck. And while you won’t necessarily learn that in school, an MBA can teach you the skills you need to lead a business to success and how to raise the capital required to get there.
So, if you’re interested in obtaining the skills necessary to run or create a company, stick around to learn about the best MBA for entrepreneurs.
The 4 Best MBA Schools for Entrepreneurship in 2022
Below, you’ll find some of the best places to get an MBA in entrepreneurship. Let’s take a look at what they have to offer.
1. Nexford University
Nexford University offers an affordable and ultra-flexible MBA degree program that you can complete within 18 months. You can choose from 26 courses, personalizing your MBA by choosing a pathway aligned with your career goals.
Additionally, Nexford University provides MBA specializations in high-paying areas of the future economic landscape, including Advanced AI, Sustainability, and Managing Hyperconnectivity. These specializations will prepare you for roles in companies at the forefront of innovation, which have taken up the mantle of solving problems of the future today.
To enroll in the program, you’ll need to:
submit transcripts from your undergraduate program
take an English proficiency test
Also, Nexford University suggests you submit a resume to help the institution tailor your learning path. The university boasts the most competitively-priced MBA. Moreover, you have the option to pay your tuition every month, with the monthly payment costing between $160-$280 depending on which country you live in. On average, with a monthly tuition cost of $180, you will pay a total tuition cost of $3,240 for the entire 18-month program.
2. John Hopkins University Carey Business School
John Hopkins University is a 145-year-old higher education provider located in Baltimore, Maryland, in the United States. Every year, the university opens its doors to 24,000 students who learn full-time and part-time (in person or online). Meanwhile, the University’s Carey Business School provides MBAs aimed at professionals with experience.
While John Hopkins University provides the option for online learning, students must show up for three courses at its Harbor East Campus. Usually, the program lasts for three years, and in that time, students must complete 54 credits. However, the university allows for up to six years to complete all credits.
John Hopkins University Carey Business School’s MBA program will be appealing to you if you’re looking to level up your pay. The institution claims that:
58% of students doing the MBA program part-time received a wage increase while attending the program
Almost 93% of its MBA graduates accepted a full-time offer within 120 days of completing the program
You can consult the institution’s employment statistics for more information.
To apply to John Hopkins University Carey Business School, you’ll need a bachelor’s degree and a minimum 3.0 GPA. Also, you’ll need to have 2 years of work experience. Make sure to submit your transcripts and other relevant documents when applying. You may also have to prepare for an interview.
3. Imperial College London Business School
The Imperial College London Business School MBA promises a transformational experience capable of shaping you into a confident business leader. The university is located in London, Europe’s business capital, boasting a world-class faculty, world-leading research, and the opportunity to form lasting business connections.
Imperial College London Business School offers a full-time MBA course lasting one year. Additionally, the institution provides three part-time MBA programs that take your employment into account, allowing you to earn your MBA without missing a beat work-wise.
Among the university’s flexible MBAs are:
A Global Online MBA delivered online
A Weekend MBA that allows you to attend physical lessons during the weekend when you’re off from work
So, if you don’t want to relocate, you can earn your MBA from the comfort of your home.
On average, students who enroll in the institution’s MBA program have a minimum of 3 years of work experience. In the Global Online MBA program, students hail from 54 countries, meaning you’ll be learning alongside a diverse cohort and have the chance to build business connections that transcend borders.
4. Babson College
The MBA program offered by Babson College is designed to instill an entrepreneurial mindset you’ll carry for the rest of your professional life. As of 2022, the College doesn’t require that you take a Graduate Management Admission Test (GMAT) or GRE before applying to enroll.
During the program, you’ll learn how to balance experimentation and analysis while problem-solving. Babson College teaches the preceding skills by practicing real-world experiential learning. In addition, you’ll get the opportunity to use what you’re taught through summer internships and class consulting projects.
Babson College’s lecturers are experts in their respective fields, meaning you’ll learn from the best. Additionally, of the students that enroll in the one-year program:
61% are international students 46% are female The average student has 5 years of work experience
Babson College has been rated #1 for entrepreneurship by publications like the Princeton Review, Entrepreneur magazine, and U.S. News and World Report. In addition, the institution boasts alumni who earn an average salary of $154,546 on average (in the US).
You can choose between a 12-month and 21-month MBA program at Babson College. The institution is located in Wellesley, Massachusetts.
Factors to Consider When Choosing an MBA in Entrepreneurship
The following are some factors to consider when choosing the best MBA for entrepreneurship.
Option for Distance Learning
If you’re thinking of pursuing an MBA in entrepreneurship, you’re likely either looking to move up the corporate ladder or set up a company yourself. In other words, you’re probably holding down a job and have professional responsibilities.
Therefore, if you don’t have the luxury of attending an MBA course in person, you’ll have to choose one that provides the option for distance learning.
In addition to the option for distance learning, you should choose an MBA program that fits your lifestyle. For example, if you plan to continue working while enrolled in an MBA program, only a program that provides for learning on a flexible schedule will do.
Nexford’s MBA program offers a flexible schedule, requiring 10-15 hours per week (and weekly assignments/deadlines) — but you can take those hours whenever suits you, to fit around your schedule.
By the time you’re through with an MBA program in entrepreneurship, you should have obtained a healthy mix of technical and soft skills that’ll serve you well when starting or leading a company. So, modules such as leadership, strategic planning, business data analysis, and marketing are core components of an MBA in entrepreneurship worth your money.
Suppose you plan to take the opportunity to build business connections while studying for an MBA. In that case, you’ll want your chosen institution to have a diverse cohort of local and international students. The same is true whether you attend physically or earn the degree online, as a good MBA program will facilitate collaborative sessions between students.
Excellent Alumni Employment Statistics
Most likely, you hope to improve your pay packet with an MBA in entrepreneurship, and the roles you can inhabit by earning this degree come with higher pay. Therefore, when picking an MBA program, you’ll want to check how quickly alumni of the program are snapped up by employers and the amount of pay they receive.
Nexford’s 2022 alumni survey results saw 96% of entrepreneur or business graduates say that they grew or advanced their business following their program at Nexford. So, if you’ve got an entrepreneurial spirit, Nexford’s MBA could be for you.
Most good MBA programs expect only a transcript and a good score. Others may require you to take a test of English or attend an interview, while others still require you have a certain number of years of experience. You shouldn’t have to jump through hoops to be admitted into an MBA program, so let entry requirements guide your decision.
Not everyone who’d like to earn an MBA can easily afford to enroll in one. After all, MBAs can be pretty expensive. So, if you fall into this category of student, you’ll want to earn an MBA degree with an institution that provides scholarship opportunities to prospective students.
Frequently Asked Questions
Is an MBA in Entrepreneurship Worth It?
We think so. However, if you’re not convinced, answer the following questions: Are you interested in starting or running a company someday? Also, are you knowledgeable in the finer details of what it takes to start or run a business? If you answered “yes” to the first question and “no” to the second, then an MBA in entrepreneurship may be a worthwhile investment.
What Jobs Can an Entrepreneurship MBA Get You?
With an MBA in entrepreneurship, you can be hired as a Management Analyst, Operations Manager, Management Consultant, Marketing Manager, Chief Executive Officer, or Managing Director, to name a few roles. Additionally, you can use your skills to found a company and preside over its business operations as Chairman or Company President.
Do Successful Entrepreneurs Have an MBA?
Yes, a surprising number of entrepreneurial individuals have an MBA. For example, this study conducted by BSchools of 50 unicorns reveals that 12 of the companies (or 24%) had an MBA graduate at the helm. Moreover, this list shows 101 CEOs of well-known companies who are MBAs. In other words, you’ll be in good company when you get your degree.
Which MBA Specialization Is Best for Entrepreneurs?
In our opinion, sustainability is the best MBA specialization for entrepreneurs. Not only is it one of the highest-paying MBA specializations, but it provides students with the skills needed to tackle one of the contemporary problems of our time: climate change. Therefore, it’s a specialization that future-proofs your career and makes you employable internationally.
Without a doubt, obtaining an MBA can elevate your entrepreneurial career to new heights.
With the skills learned in an MBA, you can inhabit the role of Chief Executive Officer, whether as an employee or founder of a company.
Nexford University offers one of the most relevant MBA programs for budding entrepreneurs. Download our brochure or book a call with our Nexford Advisors to get started on your entrepreneurial journey.
Known for strategy and attention to detail
Joe has more than 10 years of marketing experience, working within the public sector, client-side, and agency side.
He is passionate about using data and customer insights to improve marketing performance.
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