Comparing online MBAs? Top considerations to find the right program

It’s no secret that a Master of Business Administration (MBA) degree is a massive investment of time and resources—especially financial resources. Tuition for some of the highest-ranked online MBA programs exceeds $100,000, with rates varying based on factors including the type of institution (public or private), enrollment status (part-time or full-time), and books and other supplies.

The Kelley Direct Online MBA is a more affordable option than many of the other top-ranked online MBA programs, with the total tuition coming out under $95,000. How do we keep the cost of an online MBA degree lower, while keeping our No. 1 ranking by the Princeton Review, U.S. News & World Report, and Poets&Quants? Our faculty and staff spend a lot of time finding ways to balance the cost and experience for online MBA students without compromising on quality. See how Kelley Direct gives our current and prospective students the best possible education, experience, and return on investment (ROI) for their money.

Determining the cost of the No. 1 ranked online MBA program: Kelley Direct’s strategy

Kelley Direct offers a top-ranked, high-quality degree at a lower cost because we plan and manage every aspect of the program ourselves. Many business schools partner with online program managers (OPMs) to outsource aspects of their online MBA programs, including admissions, marketing, course design, and hiring nonfaculty instructors to teach courses instead of regular faculty. These online program managers may receive 40% to 80% of all tuition revenue according to the Wall Street Journal, so students’ tuition dollars aren’t going exclusively to the program or school that they’re attending.

Because we don’t use an online program manager at Kelley Direct, every student’s tuition is reinvested back into the program and the academic experience. This helps keep our tuition rates lower and allows us to deliver a higher value to our students. Our in-house strategy means that Kelley Direct instructors are the same faculty who teach in the Kelley School’s residential programs, that students are able to meet faculty at two required in-person courses, and that there are full-time staff working at the Indiana University main campus in Bloomington to serve online students—not from a corporate call center. Read more about our in-house approach.

Advice from Admissions & Financial Aid: Consider the intangibles

If you’re thinking about getting a graduate business degree, there’s more to consider than the online MBA programs’ prices. Tim Byrne, the senior director for Admissions & Financial Aid for the Kelley Direct Online MBA program, encourages students to consider the intangible benefits of different online MBA programs.

“Kelley Direct is a high-touch program,” Byrne said. “Once we remove the physical piece, it’s effectively the exact same program as a residential full-time MBA. It’s the same faculty, the same courses and concepts. You’re doing group projects and working on real business client cases. You log on for class at a specific time instead of coming to a physical room, so it’s still the full experience while still getting to live where you already live.”

In addition to the online format, specific benefits of the Kelley Direct program include the freedom to choose courses that align with personal and professional goals, direct access to faculty and staff, and valuable networking opportunities, Byrne said.

Customizable curriculum: The Kelley Direct Online MBA curriculum is a 50/50 split between required online MBA courses and electives, and students are able to choose from seven majors and more than 80 elective courses.

Jenni Autry, a current Kelley Direct student and president of the Kelley Direct Student Leadership Association, began to consider going back to school for an MBA in 2021. After years of working in sports and communications, she knew that a pivot to marketing would be a natural fit.

“I really liked that at Kelley, I could major in a certain area of business,” Autry said. “The strength of the marketing department really drew me to Kelley.”

Access to staff and faculty: Because full-time Kelley faculty teach Kelley Direct online courses, students have access to 125+ faculty who are available—and excited—to connect. Additionally, our full-time Kelley Direct staff focus exclusively on ensuring that Kelley Direct students have a rich experience as an online student and opportunities after graduation.

I love it when the Kelley Direct students contact me to talk about anything: their careers, job changes, problems they have at the office. That’s what we’re here for.” -Jim Davis, Professor of Management

These dedicated faculty and staff members are another intangible benefit of the Kelley Direct Online MBA experience, Byrne said.

“At Kelley Direct, there’s a team in place to support you,” Byrne said. “We have connected conversations, where a student will say, ‘I want to leave the marketing team for the data analyst team.’ That becomes a conversation with an academic advisor about what courses to take that may fit with those goals and a conversation with the faculty member who’s teaching your class.”

Networking opportunities: Through online classes and in-person immersions, Kelley Direct Online MBA students can expand their network across the country and internationally. In addition to Kelley Direct graduates, students gain access to the wider Kelley School of Business alumni network—the largest business school alumni base with more than 133,000 Kelley grads.

“You could have an executive from an engineering company in Charlotte and an entrepreneur in Phoenix in the same group project,” Byrne said. “You gain incredible amounts of perspective and knowledge from your peers and from the faculty; then you can implement that.”

Autry came to Kelley Direct in a time of transition, she said. She started her classes the same week that she started working for a nonprofit organization, with the goal of transitioning into a brand manager role for a major company before graduation. Autry used Kelley’s resources while searching for new jobs, she said, including the current student network and alumni network.

It worked. Autry doesn’t graduate until 2024 and has already gotten a new job as an associate brand manager at the beverage company Sazerac. How’d she do it? At a Kelley Direct in-person networking event, Autry met a woman working as an associate brand manager at Sazerac. They became good friends, and the woman encouraged Autry to apply at Sazerac if the right position opened.

Paying for an online MBA: What to consider during the application process

Before you begin to apply to online MBA programs, Byrne recommends a crucial first step: look at the tuition and fees to get an idea of how much an online MBA costs. From there, potential students can begin to consider if the online MBA programs and costs are right for them.

“The first thing you should do before applying is to understand what your flexibility needs are and how that fits into a potential bill and financial situation,” Byrne said. “At Kelley Direct, potential students have opportunities to schedule financial planning calls. We talk through tuition rates, potential scholarships, and the classes students have to take every term.”

Byrne describes a few ways to bring down the average cost of an online MBA: scholarships, employer tuition assistance, and student loans.

• Scholarships: Scholarships that students may receive are listed on the Kelley Direct website, in addition to information about how to apply for scholarships and the maximum amount of scholarship funds a student can receive.
• Employer tuition reimbursement: Many companies will contribute to their employees’ tuition for an online MBA, Byrne said. If your employer has a tuition assistance program, Byrne recommends talking with your manager about funding. The Kelley Direct Online MBA provides many specialization opportunities, and employers may be willing to provide additional support when they see how you will contribute to the organization.

When Autry was considering where to apply for an online MBA, she made a spreadsheet of various factors at the schools she was looking at.

“Cost, of course, was one of the columns in that spreadsheet,” Autry said. “I was looking to maximize my investment in a program that I knew would be top quality, but also affordable.”

Autry also took advantage of scholarships at Kelley Direct to help make her degree less expensive. She receives a partial academic scholarship, another scholarship through her role on the student executive board, and a scholarship through Forté, a foundation that works to increase the number of women business leaders.

For students who are considering online MBA program costs, Autry recommends thinking holistically about the benefits of various programs. In her own research process, she made a list of the top three things that were important to her in choosing a degree: a top-quality education with a focus on marketing, an affordable degree, and hands-on learning opportunities.

“Do your research and think about what matters to you,” Autry said. “If you’re willing to take the leap of faith to invest in your education, maximize the time in the program by connecting with as many people as you possibly can. That’s going to pay off.”

Student perspectives: The ROI of a Kelley Direct Online MBA

Autry is one of many current Kelley Direct students who have made a career pivot because they’re investing in an online MBA degree. Autry is adamant that an online MBA isn’t merely about the education, but also about joining a powerful network.

“You’re not just investing in your education, you’re investing in a lifelong network of alumni who are going to have your back throughout the rest of your career,” Autry said.

Keoni Antolin, another current Kelley Direct student, switched careers as a result of working toward his MBA. Antolin wanted to pivot out of his role in the defense industry into a new sector, so he began to investigate further education and found Kelley by researching the top online MBA programs. Antolin used the U.S. News & World Report and Poets&Quants rankings to narrow down his best options in terms of tuition rates, experience, and ROI for students.

Antolin noticed that other top-ranked programs had higher tuition rates than Kelley Direct, so he started researching to find the difference between Kelley and its competitors. He found that Kelley would have the greatest personal and professional benefit to him, even at a lower price than some other online MBA programs.

“I reached out on LinkedIn to Kelley Direct graduates, and they told me how wonderful the online MBA program was, especially for someone that works full time and has kids,” Antolin said. “My research gave me confidence that this is a solid program with professors who care and who want you to retain and use the knowledge.”

After hearing the testimonies of other students and learning about Kelley Direct’s No. 1 ranking and potential ROI and compensation packages, Antolin decided to apply to Kelley. To pay for his degree, Antolin said he considered scholarships to make tuition less expensive in the short-term, and the longer-term job and compensation opportunities that could come with getting an MBA.

Antolin was able to make his degree less expensive with scholarships for military veterans and by applying for scholarships directly from Kelley. He’s confident that the degree was worth it, he said, because he’s already started to see some of the return on his investment. Antolin attended a military MBA conference in 2022 and 2023 that allowed him to build his network, land job interviews, and receive job offers, he said. He recently accepted a new position with a 25% bump in his base salary compensation.

“The program cost alone (compared to more expensive institutions) justifies the pursuit,” Antolin said. “If you want to grow professionally and personally, Kelley is your answer.”

In addition to the financial ROI, Antolin has also realized some of the intangible benefits of being a Kelley Direct student. Through his classes, he’s gained the ability to make analytical decisions based on objective factors, has been given a framework for leadership methods that he believes will guide his leadership in the future, and has become more sure of his own abilities.

“My confidence has expanded a lot because of the program, because of the people I’ve met and the networks I’ve formed, and through learning to communicate more effectively,” Antolin said. “Using what we learn in class and taking it into the business world instantaneously is remarkable. I wouldn’t be able to do that in any other type of program.”

Invest in yourself

Still considering online MBA program costs? Learn more about the Kelley Direct Online MBA and financial aid options.