Business management is a multifaceted discipline that involves planning, organizing, leading, and controlling an organization's resources.
Effective managers inspire and encourage employees, adapt their leadership styles to different situations, and foster a positive work environment. They may monitor employee performance, compare results to objectives, and manage timelines to ensure the organization meets its goals.
Earning a business management degree online can save you money while you complete your education faster than you could in a campus-based program. Federal aid, scholarships, and employer reimbursements can all help cover tuition and other expenses.
Use our guide to learn about the most affordable online management degrees and how to pay for your education without draining your resources.
Popular Online Programs
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
15 Most Affordable Online Management Degrees
What Is a Business Management Degree?
An online business management degree program can serve as a first step into the dynamic world of commerce. It provides a comprehensive understanding of the business landscape, covering core subjects such as strategic planning, financial management, marketing, human resources management, operations management, and organizational behavior.
An online management degree can prepare you to make informed decisions and manage organizational resources effectively. After graduation, you can pursue client services, marketing, logistics, accounting, information, development, or operations roles.
Why Get Your Business Management Degree Online
Flexibility: Learn independently in a self-directed educational experience tailored to your personal and professional schedule.
Accessibility: Access coursework from anywhere in the world without having to relocate or pause your career.
Cost Savings: Save money by eliminating commuting, relocation, and campus-related expenses. Additionally, online learning environments offer diverse networking opportunities through virtual discussions, group projects, and digital platforms.
Business Management Degree Concentrations
Online management programs may offer many different potential concentrations. Consider which specialization can help advance your career and embolden you to pursue the leadership role you may seek.
General Management
A general management degree can equip you with the critical thinking skills you need to solve complex programs facing modern companies. The curriculum offers an overview of accounting, ethics, project management, and business theory. This degree can lead to a career in operations management, supply chain management, or entrepreneurship.
Human Resources Management
Human resources managers oversee the department that recruits, trains, compensates, and rewards employees. In a human resources degree program, you may study HR technology; global HR practices; and diversity, equity, and inclusion. Graduates can serve as HR specialists, managers, or directors.
Retail Management
The largest private job sector in the country, retail or sales management encompasses all business-to-business and business-to-consumer sales. This degree includes courses in accounting, e-commerce, sales, and customer service courses. After graduation, you may pursue a retail management, strategy, or entrepreneurship career.
Sports Management
A sports management degree can open up opportunities to work in coaching, sports business, or sports-related nonprofit organizations. You may take courses in sports law, psychology and sociology of sport, and sport liability and risk control.
Hospitality and Tourism Management
A hospitality and tourism management degree can prepare you for a career in food and beverages, event planning, lodging, gaming, or another career at a resort or on a cruise ship. Courses may cover hospitality finance, sustainable tourism, social media marketing, and business research and analytics.
Arts and Entertainment Management
After majoring in arts and entertainment management, you can pursue a career as a talent agent, esports manager, venue manager, or college athletics administrator. Courses in this field may include the business of NASCAR, NCAA compliance, and sports and entertainment in American life.
Entrepreneurship
Entrepreneurship is many people's dream. The Washington Post reports that nearly 1 in 5 American adults have started a business. If you aspire to own a business, you can advance your professional skills with an entrepreneurship degree. Courses cover marketing, social media, accounting, and creating a business plan.
Criminal Justice
Crime can happen anywhere: online, in offices, or at government agencies. A business management degree with a criminal justice concentration can prepare you to help protect public safety by identifying white-collar criminals, collecting forensic evidence, and testifying in court. You could take classes in criminal justice, criminal investigations, and crime mapping and analysis.
How Much Does a Business Management Degree Cost?
Average Annual Cost of a Bachelor's in Management
Online Program
$22,676
Campus-Based Program
$30,792
A four-year bachelor's in business management can cost between $90,000 and $125,000 at an average-priced school. However, your actual costs may be higher or lower than this price band depending on factors such as the school's brand, its status as public or private, and your state of residence.
For example, Albertus Magnus College, a private institution in New Haven, Connecticut, charges $583 per credit for its online bachelor's programs. Online students at nearby Southern New Hampshire University pay much less, $330 per credit. However, Indian River State University, a public school in Florida, charges as little as $104 per credit for in-state students.
Paying for Your Online Management Degree
Few students pay all their tuition and other costs out of pocket. Instead, they partially rely on scholarships, employer reimbursement, loans, and other financial assistance. Consider the pros and cons of these popular financial aid programs:
Loans
A student loan is money you borrow for school and pay back with interest. You can apply for a loan from the federal government, a private bank, or another institution. Federal loans are usually the easiest to obtain because they do not require a credit check.
Keep in mind that higher interest rates on federal student loans, which have recently topped 6.5% for undergraduate loans, can increase the total amount you pay over the life of the loan. However, the new income-driven repayment plan called Saving on a Valuable Education (SAVE) can mitigate this impact by assisting with interest payments and even forgiving qualifying loans after 10 years.
To apply for a federal student loan, complete the Free Application for Federal Student Aid (FAFSA).
Scholarships and Grants
Scholarships are usually private merit-based aid programs that do not need to be paid back. You must compete for some college scholarships based on your academic accomplishments, professional background, or volunteer experience. Other scholarships assist specific applicants based on demographics: race, gender, religion, or national background.
Popular business management scholarships include:
IMA Memorial Education Fund Scholarship and Stuart Cameron & Margaret McLeod Memorial Scholarship
John Galt Solutions Scholarship for Future Supply Chain Leaders
Employee Tuition Reimbursement/Assistance
In 2022, the Society for Human Resource Management found that almost half of the employers it surveyed offered tuition assistance or reimbursement. Tuition assistance is provided upfront and can help pay school fees and eligible expenses.
Reimbursement money is supplied after an employee has completed a course and may not cover non-tuition expenses. Check with your company's human resources department to determine your tuition reimbursement or assistance eligibility.
Price Check
According to the College Board, in 2023-2024, the lowest average costs for public four-year institutions were $6,360 in Florida and $6,700 in Wyoming, and the highest were $17,170 in New Hampshire and $17,180 in Vermont.
What Can You Do With a Business Management Degree?
Virtually every company in every kind of industry needs business managers. You can pursue a career in construction, finance, healthcare, technology, manufacturing, or another area. Depending on your goals, you might work in your hometown, a central industrial hub, or in an international context.
Each industry has distinct expectations and certifications for business managers. For example, supply chain managers may need to earn the certified supply chain professional certification. Technical or highly regulated industries such as banking, finance, and healthcare may seek applicants with master's degrees and many years of experience.
Salary and Outlook
In 2023, the Bureau of Labor Statistics (BLS) reported that management occupations earned a mean annual wage of $137,750. However, this national average varied widely by geographic location and industry.
According to the BLS, business managers working in finance and technology earn some of the highest salaries. Securities and investment management may also prove particularly lucrative.
New York, New Jersey, Washington, California, and Massachusetts are the highest-paying states for business management. Florida, Illinois, and Texas are other states with high concentrations of managers.
Business managers with five-plus years of experience, an MBA, or consulting or business intelligence skills may also earn higher-than-average wages.
| Job | Median Salary (2023) | Job Outlook (2022-2032) |
|---|---|---|
| General and operations managers | $101,280 | +4% |
| Advertising, promotions, and marketing managers | $156,580 | +6% |
| Sales managers | $135,160 | +4% |
| Human resources managers | $136,350 | +5% |
| Compensation and benefits managers | $136,380 | +2% |
| Training and development managers | $125,040 | +6% |
| Administrative services and facilities managers | $104,900 | +5% |
| Public relations and fundraising managers | $130,480 | +6% |
| Architectural and engineering managers | $165,370 | +4% |
| Computer and information systems managers | $169,510 | +15% |
| Entertainment and recreation managers | $73,460 | +8% |
| Agents and business managers of artists, performers, and athletes | $84,900 | +8% |
| Transportation, storage, and distribution managers | $99,200 | +8% |
| Construction managers | $104,900 | +5% |
| Lodging managers | $65,360 | +7% |
| Food service managers | $63,060 | 0% |
| Property, real estate, and community association managers | $62,850 | +5% |
Frequently Asked Questions About Online Management Degrees
Is a business management degree a BA or BS?
Universities can offer a bachelor of arts or a bachelor of science in business management.. Typically, a BA focuses on general business principles, and a BS emphasizes business's mathematical and technical aspects. Some schools may offer a bachelor of business administration (BBA). This degree usually emphasizes the practical application of business principles to real-world situations.
How long does it take to get a management degree?
Typically, a bachelor's degree takes four years to earn. However, you may shorten your time to graduation by transferring in college credits, completing CLEP tests, or submitting other prior learning assessments. You might also consider enrolling in an accelerated or degree completion program, which could help you finish faster.
What classes are required for a business management degree?
Each school determines its own business management curriculum. You usually take general education courses in language arts, math, and social sciences and core business classes in macro and microeconomics, business law, accounting principles, and introduction to marketing. Some schools also require an internship and a concentration.
Who accredits business management programs?
Three significant organizations accredit business management degrees — the Association to Advance Collegiate Schools of Business (AACSB), the Accreditation Council for Business Schools and Programs (ACBSP), and the International Accreditation Council for Business Education (IACBE).
Most research-heavy programs pursue AACSB accreditation, while schools focused on teaching excellence seek ACBSP accreditation. IACBE usually accredits programs at liberal arts colleges.
Is an online business management degree worth it?
According to NCES, an online bachelor's degree in business, management, or marketing costs an average of $22,676 annually. However, the most affordable online business schools could cost much less, and graduates could pursue jobs with higher-than-average salaries.
In July 2024, Payscale reported that people with a BS in business management earned an annual average salary of $77,000. Directors of marketing, operations, or human resources earned even higher wages.
