Being successful as an entrepreneur requires a confluence of capital, skill, and a little luck. And while you won鈥檛 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鈥檙e 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 2024
Below, you鈥檒l find some of the best places to get an MBA in entrepreneurship. Let鈥檚 take a look at what they have to offer.
1. 狼友社区
狼友社区 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, 狼友社区 provides MBA specializations in high-paying areas of the future economic landscape, including Advanced AI, Sustainability, Cybersecurity, E-Commerce, Fintech, International Business and more. 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鈥檒l need to:
submit transcripts from your undergraduate program
take an English proficiency test
Also, 狼友社区 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 $200-$360 depending on which country you live in. On average, with a monthly tuition cost of $200, you will pay a total tuition cost of $3,600 for the entire 18-month program.
2.
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鈥檚 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鈥檚 MBA program will be appealing to you if you鈥檙e 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鈥檚 for more information.
To apply to John Hopkins University Carey Business School, you鈥檒l need a bachelor鈥檚 degree and a minimum 3.0 GPA. Also, you鈥檒l 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.
Do you have the skills to be a successful entrepreneur?
Take our free quiz to measure your entrepreneurial skills and see if you have what it takes to run your own successful business.
Your results will help you identify key skill gaps you may have! Up for the challenge?
3.
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鈥檚 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鈥檚 flexible MBAs are:
A Global Online MBA delivered online
A Weekend MBA that allows you to attend physical lessons during the weekend when you鈥檙e off from work
So, if you don鈥檛 want to relocate, you can earn your MBA from the comfort of your home.
On average, students who enroll in the institution鈥檚 MBA program have a minimum of 3 years of work experience. In the Global Online MBA program, students hail from 54 countries, meaning you鈥檒l be learning alongside a diverse cohort and have the chance to build business connections that transcend borders.
4.
The MBA program offered by Babson College is designed to instill an entrepreneurial mindset you鈥檒l carry for the rest of your professional life. As of 2022, the College doesn鈥檛 require that you take a (GMAT) or before applying to enroll.
During the program, you鈥檒l 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鈥檒l get the opportunity to use what you鈥檙e taught through summer internships and class consulting projects.
Babson College鈥檚 lecturers are experts in their respective fields, meaning you鈥檒l 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 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鈥檙e thinking of pursuing an MBA in entrepreneurship, you鈥檙e likely either looking to move up the corporate ladder or set up a company yourself. In other words, you鈥檙e probably holding down a job and have professional responsibilities.
Therefore, if you don鈥檛 have the luxury of attending an MBA course in person, you鈥檒l have to choose one that provides the option for distance learning.
Flexible Schedule
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.
狼友社区鈥檚 MBA program offers a flexible schedule, requiring 10-15 hours per week (and weekly assignments/deadlines) 鈥� but you can take those hours whenever suits you, to fit around your schedule.
Core Modules
By the time you鈥檙e through with an MBA program in entrepreneurship, you should have obtained a healthy mix of technical and soft skills that鈥檒l 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.
Diverse Cohort
Suppose you plan to take the opportunity to build business connections while studying for an MBA. In that case, you鈥檒l 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鈥檒l want to check how quickly alumni of the program are snapped up by employers and the amount of pay they receive.
狼友社区鈥檚 2022 alumni survey results saw 96% of entrepreneur or business graduates say that they grew or advanced their business following their program at 狼友社区. So, if you鈥檝e got an entrepreneurial spirit, 狼友社区鈥檚 MBA could be for you.
Low Entry-Barrier
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鈥檛 have to jump through hoops to be admitted into an MBA program, so let entry requirements guide your decision.
Scholarship Opportunities
Not everyone who鈥檇 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鈥檒l want to earn an MBA degree with an institution that provides scholarship opportunities to prospective students.
Do you have the skills to be a successful entrepreneur?
Take our free quiz to measure your entrepreneurial skills and see if you have what it takes to run your own successful business.
Your results will help you identify key skill gaps you may have! Up for the challenge?
Frequently Asked Questions
Is an MBA in Entrepreneurship Worth It?
We think so. However, if you鈥檙e 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 鈥測es鈥� to the first question and 鈥渘o鈥� 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 conducted by of 50 reveals that 12 of the companies (or 24%) had an MBA graduate at the helm. Moreover, this shows 101 CEOs of well-known companies who are MBAs. In other words, you鈥檒l 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鈥檚 a specialization that future-proofs your career and makes you employable internationally.
Conclusion
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.
狼友社区 offers one of the most relevant MBA programs for budding entrepreneurs. Download our brochure or book a call with our 狼友社区 Advisors to get started on your entrepreneurial journey.