In this article, we will be looking at the 25 best online MBA degree programs heading into 2024. If you want to skip our detailed analysis, you can go directly to the 5 Best Online MBA Degree Programs Heading Into 2024.
MBA Career Spotlight: Consulting Services Market
According to a report by the Graduate Management Admission Council (GMAC), 45% of MBA graduates are hired in consulting jobs. MBA graduates continue to be highly sought after, with the consulting and technology sectors leading the demand. The consulting services sector is experiencing rapid growth, presenting an opportune field for MBA graduates. In 2023, A staggering 90% of recruiters have expressed their intention to hire individuals with an MBA degree.
Management consulting firms analyze the operations within organizations to identify inefficiencies. According to a report by Mordor Intelligence, the consulting services market was valued at $308.57 billion in 2023. The market is expected to grow at a compound annual growth rate (CAGR) of 4.96% to reach a valuation of $411.48 billion by 2028.
The pandemic catalyzed the digital transformation of businesses. Businesses are trying hybrid or remote models. Digital transformation encompasses the adoption of cloud and AI technologies. Businesses prefer to seek expert opinions before making drastic operational changes. The demand for consulting services is on the rise as businesses embrace the latest technological advancements. QuantumBlack, AI by McKinsey, has been helping clients incorporate AI into real-time decision-making for almost a decade now. QuantumBlack helps businesses implement AI with fewer resources at a significantly lower cost.
North America dominated the consulting services market in 2023. The United States had the world’s largest revenue-generating consulting services market. The dynamic marketplace has made it the epicenter of consulting services providers with companies including McKinsey & Company and Bain & Company.
Leading Companies in the Industry
Accenture Plc (NYSE:ACN) is one of the most noteworthy companies in the consulting services market. Accenture Plc (NYSE:ACN) provides strategic and operational consulting to various industries. On December 13, Accenture Plc (NYSE:ACN) announced that it is creating a generative AI Center of Excellence (CoE) with Google Cloud. The CoE will help businesses find the best generative AI model based on their goals and objectives. The clients will have access to more than 130 large language models (LLMs) through Model Garden on Vertex AI including Google Gemini.
Cognizant Technology Solutions Corp (NASDAQ:CTSH) is a notable company in the consulting services industry. On December 13, the company announced the acquisition of Thirdera. Thirdera is a pure-play ServiceNow consultancy. Cognizant Technology Solutions Corp (NASDAQ:CTSH) and ServiceNow are working together to build a $1 billion combined business focused on AI-driven automation. The acquisition is expected to close in January 2024. The acquisition will enable Cognizant Technology Solutions Corp (NASDAQ:CTSH) to provide the most comprehensive services in the ServiceNow ecosystem.
Huron Consulting Group Inc (NASDAQ:HURN) is another prominent name in the consulting services industry. The company provides management consulting services, with a focus on the healthcare industry. On November 2, Huron Consulting Group Inc (NASDAQ:HURN) reported earnings for the fiscal third quarter of 2023. The company reported an EPS of $1.39, beating estimates by $0.21. The company’s revenue for the quarter grew by 25.51% and amounted to $358.18 million, ahead of market consensus by $27.15 million. As of December 14, Huron Consulting Group Inc (NASDAQ:HURN) has surged nearly 26.22% over the past six months. Here are some comments from the company’s earnings call:
“Huron’s strong performance continued in the third quarter, with revenues growing 26% over the prior year quarter and a 9th consecutive quarter of year-over-year margin expansion. Compared to the same period two years ago, the third quarter of 2021, our revenues have grown 60%, reflecting sustained strength across our industry segments and capabilities. In the first nine months of 2023, revenues grew organically across all three operating segments, led by 32% growth in the Healthcare segment, our largest business. Our financial results and increased guidance reflect ongoing solid demand for a broad portfolio of offerings, our deep industry and capability expertise, our highly talented team, and our strong collaborative culture.”
The flexibility of online education has made it a popular choice among the masses. We have made a list of the best online MBA degree programs heading into 2024.
25 Best Online MBA degree programs Heading into 2024
Our Methodology
We have employed a consensus methodology to make our list of the best online MBA degree programs heading into 2024. We consulted four different sources including Intelligent.com, Best Colleges, Online MBA Coach, and College Consensus. We extracted the items that appeared in at least 2/4 of the sources. We calculated the averages of select degree programs across sources to make our lists. To calculate the average ranks, we summed the individual ranks for each program in the sources it appeared in and divided it by the number of sources the program appeared in. The list has been arranged in descending order of the calculated average ranks.
25 Best Online MBA Degree Programs Heading into 2024
25. Babson College
Number of Mention: 2
Average Ranking Across Sources: 18.5
Babson College has one of the best online MBA degree programs heading into 2024. The college offers Association to Advance Collegiate Schools of Business (AACSB) accredited on-campus, hybrid, and online MBA degree programs. The online MBA degree program requires 45 credit hours for completion.
24. Villanova University
Number of Mention: 2
Average Ranking Across Sources: 18
Villanova University offers an AACSB-accredited MBA degree program. The online degree program offers seven different specializations and each specialization requires 7.5 elective credits. 45 total credits are required for graduation.
23. University of Nebraska-Lincoln
Number of Mention: 2
Average Ranking Across Sources: 16.5
University of Nebraska-Lincoln offers AACSB-accredited MBA degree programs online, on-campus, and in hybrid form. The degree programs offer six different tracks. The University requires 33 credits to graduate.
22. James Madison University
Number of Mention: 2
Average Ranking Across Sources: 15.5
James Madison University has an online and on-campus MBA degree program. The MBA degree programs are AACSB-accredited. 42 credits are required for the completion of the online degree program.
21. University of Texas at Dallas
Number of Mention: 2
Average Ranking Across Sources: 10.5
The University of Texas at Dallas offers a completely online MBA degree program. The AACSB-accredited MBA degree program requires 53 credits for graduation. The students can enroll in the fall, spring, or summer semesters.
20. University of Maryland-College Park
Number of Mention: 2
Average Ranking Across Sources: 8.5
The University of Maryland-College Park has one of the best online MBA degree programs heading into 2024. The online degree program is AACSB-accredited. 56 credits are required for graduation.
19. Rice University
Number of Mention: 2
Average Ranking Across Sources: 7
Rice University is located in Houston. The University offers an online MBA degree program accredited by the Southern Association of Colleges and Schools Commission on Colleges. The degree program required 54 credits for completion.
18. Carnegie Mellon University
Number of Mention: 2
Average Ranking Across Sources: 4
Carnegie Mellon University offers a completely online MBA degree program. The degree program is accredited by the AACSB. 36 credits are required for the completion of the degree.
17. University of Southern California
Number of Mention: 2
Average Ranking Across Sources: 1
The University of Southern California has one of the best online MBA degree programs heading into 2024. The degree program is accredited by AACSB. 42 credits are required for the completion of the degree.
16. West Virginia University
Number of Mention: 3
Average Ranking Across Sources: 45.3
West Virginia University offers an AACSB-accredited MBA degree program. The degree program requires 30 credits for graduation. The online delivery format enables students to pursue their education alongside full-time jobs.
15. University of Kansas
Number of Mention: 3
Average Ranking Across Sources: 41.3
The University of Kansas is located in Lawrence, Kansas. The university offers an online MBA degree program accredited by the AACSB. 42 credit hours are required for completion of the degree.
14. Oklahoma State University
Number of Mention: 3
Average Ranking Across Sources: 34.7
Oklahoma State University has one of the best online MBA degree programs heading into 2024. The degree program is accredited by AACSB. 45 credits are required for graduation.
13. University of Mississippi
Number of Mention: 3
Average Ranking Across Sources: 33
The University of Mississippi offers a completely online MBA degree program. The MBA degree program is AACSB-accredited. 36 credits are required for the completion of the online degree program.
12. William & Mary
Number of Mention: 3
Average Ranking Across Sources: 32
Willian & Mary is located in Williamsburg, Virginia. The university offers an AACSB-accredited degree program. 49 credits are required for the completion of the degree.
11. University of Delaware
Number of Mention: 3
Average Ranking Across Sources: 31.7
The University of Delaware has one of the best online MBA degree programs heading into 2024. The degree program is accredited by AACSB. 42 credits are required for the completion of the degree.
10. Penn State
Number of Mention: 3
Average Ranking Across Sources: 29.7
Penn State offers a completely online MBA degree program. The curriculum is designed to impart professional skills to the students. The degree program is accredited by the AACSB. 48 credits are required for the completion of the degree.
9. Lehigh University
Number of Mention: 3
Average Ranking Across Sources: 28.3
Lehigh University is located in Bethlehem, Pennsylvania. The university offers an AACSB-accredited degree program. The degree program is entirely online and requires 45 credits for completion.
8. Arizona State University
Number of Mention: 3
Average Ranking Across Sources: 20.7
Arizona State University is located in Tempe, Arizona. The online MBA degree program is accredited by the Association to Advance Collegiate Schools of Business. 63 credits are required for graduation.
7. University of Arizona
Number of Mention: 3
Average Ranking Across Sources: 19.7
The University of Arizona has one of the best online MBA degree programs heading into 2024. The degree program is accredited by AACSB. 45 credits are required for the completion of the degree.
6. Indiana University
Number of Mention: 3
Average Ranking Across Sources: 14.7
Indiana University is located in Bloomington, Indiana. The university offers an AACSB-accredited degree program. The degree program is entirely online and requires 54 credits for completion.
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