The Best Online MBA Schools (AACSB) for 2010 Part Eighteen: Summary Review, Methodology and Advice to MBA Candidates

If you’re still reading this, please accept my apologies for its length (18 parts!) and breadth. My intention was to not only present a relatively objective review of the AACSB’s accredited online MBA programs on consistent measures which you can check for yourself, but also to show the impact of each category upon the whole, and by showing the top schools in each category, to introduce schools not only in sum but also which perform well in selected areas. Some of the ranked schools stood out over and over again, while others were not at the top, but always did well enough to stay in the chase.

I’d like to take the time here to go over the top 25 programs again, looking at their key focus and why you should consider them. I will follow that section with a review of my scoring methodology, so anyone interested can tally up, weight and calculate scores on their own standards. And at the end, I have a bit of final advice for MBA candidates, from the academic and business perspectives of your MBA pursuit.

So, let’s have a look again at the Top 25 AACSB Online MBA Programs for 2010, in order of rank. The information presented here comes first from the school’s response to the AACSB survey, and then from the school’s website. In the event of conflicting information, the survey takes precedence because all schools in this review participated in the same survey with the same categories in the same time frame.

FIRST: Colorado – Denver (7,830.15 points)
Location – Denver, Colorado
Founded – 2004
Size – 1,207
Degree Levels – Four
AACSB Accreditation – Business and Accounting
Out/State MBA Tuition – $52,444
Average GMAT – 560
# of Concentrations – Nineteen (!)
Student/Faculty Ratio – 14.9


SECOND: Wisconsin – Whitewater (7,416.19)
Location – Whitewater, Wisconsin
Founded – 1868
Size – 650
Degree Levels – Three
AACSB Accreditation – Business
Out/State MBA Tuition – $18,118
Average GMAT – 501
# of Concentrations – Seven
Student/Faculty Ratio – 7.2


THIRD: Gonzaga (7,372.01)
Location – Spokane, Washington
Founded – 1887
Size – 288
Degree Levels – Three
AACSB Accreditation – Business and Accounting
Out/State MBA Tuition – $23,640
Average GMAT – 560.8
# of Concentrations – Seven
Student/Faculty Ratio – 6.3


FOURTH: Michigan – Flint (7,164.92)
Location – Flint, Michigan
Founded – 1944
Size – 187
Degree Levels – Two
AACSB Accreditation – Business
Out/State MBA Tuition – $8,881
Average GMAT – 517
# of Concentrations – Eight
Student/Faculty Ratio – 8.9


FIFTH: Nebraska – Lincoln (7,016.55)
Location – Lincoln, Nebraska
Founded – 1869
Size – 381
Degree Levels – Four
AACSB Accreditation – Business and Accounting
Out/State MBA Tuition – $33,332
Average GMAT – 625.5
# of Concentrations – Four
Student/Faculty Ratio – 4.8


SIXTH: Northeastern (6,950.81)
Location – Boston, Massachusetts
Founded – 1898
Size – 774
Degree Levels – Three
AACSB Accreditation – Business
Out/State MBA Tuition – $71,620
Average GMAT – 553
# of Concentrations – Eight
Student/Faculty Ratio – 5.2


SEVENTH: Worcester Poly (6,948.84)
Location – Worcester, Massachusetts
Founded – 1865
Size – 285
Degree Levels – Three
AACSB Accreditation – Business
Out/State MBA Tuition – $53,361
Average GMAT – 595.5
# of Concentrations – Eight
Student/Faculty Ratio – 12.4


EIGHTH: Alabama (6,855.84)
Location – Tuscaloosa, Alabama
Founded – 1831
Size – 408
Degree Levels – Four
AACSB Accreditation – Business and Accounting
Out/State MBA Tuition – $37,786
Average GMAT – 611
# of Concentrations – Four
Student/Faculty Ratio – 2.6


NINTH: Florida State (6,821.99)
Location – Tallahassee, Florida
Founded – 1851
Size – 623
Degree Levels – Four
AACSB Accreditation – Business and Accounting
Out/State MBA Tuition – $39,150
Average GMAT – 559.6
# of Concentrations – Four
Student/Faculty Ratio – 5.3



TENTH: Auburn (6,792.18)
Location – Auburn, Alabama
Founded – 1856
Size – 197
Degree Levels – Four
AACSB Accreditation – Business
Out/State MBA Tuition – $19,215
Average GMAT – 500
# of Concentrations – Five
Student/Faculty Ratio – 4.4



ELEVENTH: Quinnipiac (6,634.93)
Location – Hamden, Connecticut
Founded – 1929
Size – 199
Degree Levels – Three
AACSB Accreditation – Business
Out/State MBA Tuition – $33,580
Average GMAT – 580
# of Concentrations – Five
Student/Faculty Ratio – 3.0


TWELFTH: Penn State (6,620.94)
Location – University Park, Pennsylvania
Founded – 1855
Size – 267
Degree Levels – Four
AACSB Accreditation – Business And Accounting
Out/State MBA Tuition – $58,408
Average GMAT – 640.5
# of Concentrations – Four
Student/Faculty Ratio – 3.6


THIRTEENTH: Fayetteville State (6,591.61)
Location – Fayetteville, North Carolina
Founded – 1877
Size – 98
Degree Levels – Two
AACSB Accreditation – Business
Out/State MBA Tuition – $13,207
Average GMAT – 472
# of Concentrations – Six
Student/Faculty Ratio – 2.3


FOURTEENTH: Houston – Victoria (6,512.91)
Location – Victoria, Texas
Founded – 1983
Size – 866
Degree Levels – Three
AACSB Accreditation – Business
Out/State MBA Tuition – $27,024
Average GMAT – 442.5
# of Concentrations – Six
Student/Faculty Ratio – 25.5



FIFTEENTH: Georgia Southern (6,495.10)
Location – Statesboro, Georgia
Founded – 1929
Size – 285
Degree Levels – Three
AACSB Accreditation – Business and Accounting
Out/State MBA Tuition – $15,274
Average GMAT – 504
# of Concentrations – Three
Student/Faculty Ratio – 2.3



SIXTEENTH: Alabama – Birmingham (6,443.18)
Location – Birmingham, Alabama
Founded – 1969
Size – 347
Degree Levels – Three
AACSB Accreditation – Business and Accounting
Out/State MBA Tuition – $21,905
Average GMAT – 557
# of Concentrations – Four
Student/Faculty Ratio – 6.2



SEVENTEENTH: Massachusetts – Amherst (6,426.50)
Location – Amherst, Massachusetts
Founded – 1867
Size – 1,183
Degree Levels – Four
AACSB Accreditation – Business and Accounting
Out/State MBA Tuition – $21,944
Average GMAT – 617.2
# of Concentrations – One
Student/Faculty Ratio – 10.1



EIGHTEENTH: Morehead State (6,355.22)
Location – Morehead, Kentucky
Founded – 1968
Size – 202
Degree Levels – Three
AACSB Accreditation – Business
Out/State MBA Tuition – $15,192
Average GMAT – 400
# of Concentrations – Five
Student/Faculty Ratio – 5.2



NINETEENTH: Florida Gulf Coast (6,194.38)
Location – Fort Myers, Florida
Founded – 1991
Size – 230
Degree Levels – Three
AACSB Accreditation – Business
Out/State MBA Tuition – $51,198
Average GMAT – 505
# of Concentrations – Five
Student/Faculty Ratio – 4.2



TWENTIETH: North Texas (6,157.94)
Location – Denton, Texas
Founded – 1961
Size – 665
Degree Levels – Four
AACSB Accreditation – Business and Accounting
Out/State MBA Tuition – $28,948
Average GMAT – 493.3
# of Concentrations – Two
Student/Faculty Ratio – 5.4



TWENTY-FIRST: Washington State (6,153.22)
Location – Pullman, Washington
Founded – 1890
Size – 52
Degree Levels – Four
AACSB Accreditation – Business and Accounting
Out/State MBA Tuition – $23,656
Average GMAT – 554
# of Concentrations – One
Student/Faculty Ratio – 10.5



TWENTY-SECOND: Arizona State (6,150.06)
Location – Phoenix, Arizona
Founded – 1958
Size – 1,726
Degree Levels – Four
AACSB Accreditation – Business and Accounting
Out/State MBA Tuition – $60,186
Average GMAT – 587.5
# of Concentrations – Two
Student/Faculty Ratio – 7.1



TWENTY-THIRD: Texas – San Antonio (6,120.89)
Location – San Antonio, Texas
Founded – 1969
Size – 626
Degree Levels – Four
AACSB Accreditation – Business and Accounting
Out/State MBA Tuition – $30,906
Average GMAT – 561.7
# of Concentrations – One
Student/Faculty Ratio – 4.4



TWENTY-FOURTH: Suffolk (6,112.81)
Location – Boston, Massachusetts
Founded – 1937
Size – 1,028
Degree Levels – Three
AACSB Accreditation – Business and Accounting
Out/State MBA Tuition – $57,900
Average GMAT – 468.3
# of Concentrations – Five
Student/Faculty Ratio – 6.8



TWENTY-FIFTH: Oklahoma State (6,031.20)
Location – Stillwater, Oklahoma
Founded – 1890
Size – 690
Degree Levels – four
AACSB Accreditation – Business and Accounting
Out/State MBA Tuition – $37,326
Average GMAT – 562.5
# of Concentrations – one
Student/Faculty Ratio – 5.1


METHODOLOGY

The idea in setting up a ranking system was to record the relevant, consistent and publicly available elements of a school. The first part was to examine the information that could be found by simply looking up the school’s website and AACSB survey. From that, I selected fifteen categories of data which I believe is relevant for an MBA candidate to consider.

I then broke the fifteen categories down into three broad sub-groups, of Major, Useful, and Minor value, then ranked the categories within each. I then assigned relative proportions of the total to the categories, so that the end result would be 100%. This resulted in percentage values ranging from 0.36% to 24.00% for a single category.

I then ranked the schools according to their performance in each category. There were two ways to do this. Schools trying to reach a maximum number (like concentrations, where more is better) were assigned a value equal to the score in a category divided by the maximum (6 concentrations out of 8 maximum possible, for example) times 100 times the percentage value. Schools trying to reach a minimal value (such as tuition, where less is better) were assigned a value equal to the formula as follows: (1-(score-smallest possible)/largest possible) times 100 times the percentage value. As a result, maximum values for each category ranged from 36 points (for the lowest in-state undergraduate tuition) to 2,400 points (for the highest number of available concentrations). The rest was simple addition of scores to reach an aggregate. Anyone interested in their own scoring system can simply add or remove other categories they find relevant, adjust the weighting to suit their focus, and work the numbers the same way. I would just remind everyone that it’s important to use consistent data gathered the same way, which is available for all contending universities. Inconsistent data creates invalid results.

Finally, I’d like to thank everyone for reading my work and for your thoughts and comments, if you feel so inclined. This ranking is not meant to be advice on which school you should choose, but rather a tool to help you see which schools offer strengths that match your preferences. So far as I know, no one else is doing this, so amateur that I am, I like to think this may be of use.

The Best Online MBA Schools (AACSB) for 2010 Part Seventeen: Number of FTE Faculty and Score Totals and Final Ranking

This is the last of our fifteen categories. It’s easy to overlook, but it can be important. The number of FTE (full-time employees) is the weighted full-time number of professors and instructors available, and just as the student body size influences your ability to find quality peers, the faculty size influences your access to top instructors. After all, the more instructors the more choice you have. This category counts for 8% of the total score.

In terms of scoring, each school earns up to 100 times the percentage value of the category, so that in total a maximum score of 10,000 is possible. For this category, since there is a range from 3 to 117 FTE faculty, schools can earn up to 800 points.

Here are the top ten schools by FTE faculty counts for our group of schools:

1. Hong Kong Polytechnic
2. Texas - Dallas
3. Kennesaw State
4. Arizona State
5. Texas – Arlington
6. Towson
7. Massachusetts - Amherst
8. Wisconsin - Whitewater
9. East Carolina
10. Colorado – Denver

With that done, let’s look again at last year’s top programs:

2009 Top Online MBA Programs
1. Auburn
2. Drexel
3. East Carolina
4. Colorado – Denver
5t. Tennessee Tech
5t. Houston – Victoria
7t. Morehead State
7t. Wayne State
9. Colorado – Colorado Springs
10. North Dakota
11t. Georgia Southern
11t. Texas – Dallas
13t. Wisconsin – Oshkosh
13t. Wisconsin – Whitewater
15. Texas A&M – Commerce
16. Michigan – Dearborn
17. Nicholls State
18. Suffolk
19. Georgia College & State U
20. Colorado State
21. Florida
22t. Florida State
22t. Nebraska – Lincoln
24. Wyoming
25t. Durham
25t. Texas – Arlington
25t. Massachusetts – Lowell
25t. North Texas


And now, the Top 25 Online MBA Schools for 2010:
1st: Colorado – Denver (7,830.15)
2nd: Wisconsin – Whitewater (7,416.19)
3rd: Gonzaga (7,372.01)
4th: Michigan – Flint (7,164.92)
5th: Nebraska – Lincoln (7,016.55)
6th: Northeastern (6,950.81)
7th: Worcester Poly (6,948.84)
8th: Alabama (6,855.84)
9th: Florida State (6,821.99)
10th: Auburn (6,792.18)
11th: Quinnipiac (6,634.93)
12th: Penn State (6,620.94)
13th: Fayetteville State (6,591.61)
14th: Houston – Victoria (6,512.91)
15th: Georgia Southern (6,495.10)
16th: Alabama – Birmingham (6,443.18)
17th: Massachusetts – Amherst (6,426.50)
18th: Morehead State (6,355.22)
19th: Florida Gulf Coast (6,194.38)
20th: North Texas (6,157.94)
21st: Washington State (6,153.22)
22nd: Arizona State (6,150.06)
23rd: Texas – San Antonio (6,120.89)
24th: Suffolk (6,112.81)
25th: Oklahoma State (6,031.20)


As I said before I repeat now, this ranking is not an absolute ranking. It takes the available information on fifteen salient categories for AACSB-accredited schools of business which offer a true online MBA program, and assigns values based on the weighting of those categories as I understand them to proportionately apply to the value of the MBA. I present the top schools for each category, and have shown how the total score unfolded through the addition of the new points from each category. The school which is best for you, depends on the qualities which matter most to you. This presentation is to show how each category plays into the whole, and to present schools which excel in those areas. Some of these schools are well-known and some are not. I thought about presenting links to the schools’ websites and detailing the specific results for their performance in each category, but I presume you have access to a search engine, and the intent I brought here was to encourage you to chase down the relevant details yourself for schools which interest you. Because in the end, you must choose the school you attend, what concentrations and what cost and what length of curriculum and electives you select, and so you owe it to yourself to chase down the support for the school you choose. All I have done here is to point out how certain qualities are represented in schools, and to give you thoughts on some schools to consider. I will revisit the most prominent schools, and my methodology, in the next and final post.

Thanks.

The Best MBA Schools (AACSB) for 2010 Part Sixteen: Minimum Program Duration

This category is important to a minority of students, but for some people it will matter. This category counts for 4% of the total score.

In terms of scoring, each school earns up to 100 times the percentage value of the category, so that in total a maximum score of 10,000 is possible. For this category, since there is a range from 12 to 36 months to finish the program, schools can earn up to 400 points.

Here are the shortest minimum-duration programs in our group of schools:

1t. Western New England
1t. Florida
3t. Michigan – Flint
3t. Institute de Empresa
5t. Colorado – Colorado Springs
5t. Colorado - Denver
7t. Suffolk
7t. Georgia Southern
7t. Florida State
7t. Florida Gulf Coast
7t. Georgia College & State U
7t. Gonzaga

The overall lead is now as follows:

1st: Colorado – Denver (7,475)
2nd: Gonzaga (7,215)
3rd: Michigan – Flint (7,110)
4th: Wisconsin – Whitewater (7,040)
5th: Nebraska – Lincoln (6,866)
6th: Worcester Poly (6,853)
7th: Auburn (6,676)
8th: Alabama (6,658)
9th: Northeastern (6,609)
10th: Florida State (6,548)
11th: Fayetteville State (6,516)
12th(tie): Quinnipiac (6,498)
12th(tie): Penn State (6,498)
14th: Houston – Victoria (6,328)
15th: Alabama – Birmingham (6,300)
16th: Morehead State (6,239)
17th: Georgia Southern (6,235)
18th: Washington State (6,119)
19th: Florida Gulf Coast (6,064)
20th: Massachusetts – Amherst (6,030)
21st: Wyoming (5,909)
22nd: Western New England (5,893)
23rd: Suffolk (5,839)
24th: North Texas (5,816)
25th: Texas – San Antonio (5,806)

The Best Online MBA Schools (AACSB) for 2010 Part Fifteen: Operating Budget per Student

This category is another relatively small one, but given the need for facilities and resources for online students, it still counts, especially since a large budget is less effective if it’s cut up into too many pieces. This part counts for 3% of the total score.

In terms of scoring, each school earns up to 100 times the percentage value of the category, so that in total a maximum score of 10,000 is possible. For this category, since there is a range from $2,060 to $404,481, schools can earn up to 300 points.

Here are the ten lowest undergraduate in-state tuition rates of our group of schools:

1. Washington State
2. Southern Arkansas
3. Penn State
4. Missisippi
5. Wisconsin – Lacrosse
6. Western Kentucky
7. Wyoming
8. Tennessee - Martin
9. Indiana – Bloomington
10. Clarion U of Pennsylvania

The overall lead is now as follows:

1st: Colorado – Denver (7,119)
2nd: Gonzaga (6,881)
3rd: Wisconsin – Whitewater (6,773)
4th: Michigan – Flint (6,744)
5th: Worcester Poly (6,720)
6th: Nebraska – Lincoln (6,599)
7th: Alabama (6,524)
8th: Auburn (6,476)
9th: Northeastern (6,342)
10th: Fayetteville State (6,250)
11th: Quinnipiac (6,232)
12th: Penn State (6,231)
13th: Florida State (6,215)
14th: Alabama – Birmingham (6,166)
15th: Houston – Victoria (6,028)
16th: Morehead State (5,972)
17th: Georgia Southern (5,902)
18th: Washington State (5,852)
19th: Massachusetts – Amherst (5,763)
20th: Florida Gulf Coast (5,731)
21st: Wyoming (5,643)
22nd: North Texas (5,549)
23rd: Texas – San Antonio (5,540)
24th: Suffolk (5,506)
25th: Western New England (5,493)

The Best Online MBA Schools (AACSB) for 2010 Part Fourteen: Student Body Size

Things are closing towards the final results now, with only 16.43% (or 1,643 possible points remaining) of the total to be assigned. This category is the smallest of the four remaining areas to consider. The number of students attending a university influences the opportunity to find high-value partners for projects and challenging competition for to honors. This category counts for 1.43% of the total score.

In terms of scoring, each school earns up to 100 times the percentage value of the category, so that in total a maximum score of 10,000 is possible. For this category, since there is a range from 14 to 5,599 students, schools can earn up to 143 points.

Here are the ten highest size of MBA student class in our group of schools:

1. Texas – Dallas
2. Hong Kong Polytechnic
3. Arizona State
4. Florida
5. Texas – Arlington
6. Kennesaw State
7. Thunderbird
8. Durham
9. Colorado – Denver
10. Massachusetts – Amherst

(Note that these rankings are for ONLINE MBA student class size only)

The overall lead is now as follows:

1st: Colorado – Denver (7,106)
2nd: Gonzaga (6,858)
3rd: Wisconsin – Whitewater (6,759)
4th: Worcester Poly (6,759)
5th: Michigan – Flint (6,701)
6th: Nebraska – Lincoln (6,542)
7th: Alabama (6,459)
8th: Auburn (6,451)
9th: Northeastern (6,295)
10th: Quinnipiac (6,182)
11th(tie): Florida State (6,170)
11th(tie): Fayetteville State (6,170)
13th: Alabama – Birmingham (6,117)
14th: Penn State (6,108)
15th: Houston – Victoria (6,022)
16th: Morehead State (5,938)
17th: Georgia Southern (5,855)
18th: Massachusetts – Amherst (5,738)
19th: Florida Gulf Coast (5,703)
20th: Washington State (5,552)
21st: Wyoming (5,547)
22nd: North Texas (5,518)
23rd: Texas – San Antonio (5,495)
24th: Suffolk (5,439)
25th: Western New England (5,437)

The Best Online MBA Schools (AACSB) for 2010 Part Thirteen: Student/Faculty Ratio

This category is trickier than it may first appear. In face-to-face classes, the ratio of students per teacher is critical in the quality level of instruction a candidate may expect. It is less so in online classes, because the online student has greater access to the teacher when offering answers or asking questions. Also, since online classes use virtual office hours for professors or organized Q&A sessions for the class, there is no risk that a student may miss time with the instructor because someone else has already arrived first or the available time is a problem with other commitments, like work.

However, the student/faculty ratio does factor into how much attention an instructor may give an individual student’s work. Just imagine the difference between evaluating, say 75 students’ projects or just 25 in the same available amount of time, regardless of how the work is submitted. This category counts for 9% of the total score for a school.

In terms of scoring, each school earns up to 100 times the percentage value of the category, so that in total a maximum score of 10,000 is possible. For this category, since there is a range from 5.4 to 85.9 for schools, schools can earn up to 900 points.

Here are the ten lowest student-to-faculty rations of our group of schools:

1. Southern Arkansas
2. Tennessee - Martin
3. Western Kentucky
4. Georgia Southern
5. Wisconsin - LaCrosse
6. North Dakota
7. Louisiana - Monroe
8. Rowan
9. Fayetteville State
10. Mississippi

The overall lead is now as follows:

1st: Colorado – Denver (7,075)
2nd: Gonzaga (6,851)
3rd: Wisconsin – Whitewater (6,742)
4th(tie): Worcester Poly (6,697)
4th (tie): Michigan – Flint (6,697)
6th: Nebraska – Lincoln (6,533)
7th: Alabama (6,449)
8th: Auburn (6,446)
9th: Northeastern (6,275)
10th: Quinnipiac (6,176)
11th: Fayetteville State (6,168)
12th: Florida State (6,155)
13th: Alabama – Birmingham (6,108)
14th: Penn State (6,101)
15th: Houston – Victoria (6,000)
16th: Morehead State (5,933)
17th: Georgia Southern (5,848)
18th: Massachusetts – Amherst (5,708)
19th: Florida Gulf Coast (5,697)
20th: Washington State (5,551)
21st: Wyoming (5,544)
22nd: North Texas (5,502)
23rd: Texas – San Antonio (5,479)
24th: Western New England (5,434)
25th: Oklahoma State (5,414)

The Best Online MBA Schools (AACSB) for 2010 Part Twelve: Number of Concentrations

This category is the big one. This is because the initial criteria gave us a set of good schools, schools accredited by the AACSB, which offered a true online MBA. The difference between these 72 schools is weighed by what the school can offer a top candidate, and the top category of the 15 available to measure is the number of concentrations. Businesses like to know what the MBA means to them, and the concentration sets the applicant apart, even from other MBA holders.

In terms of scoring, each school earns up to 100 times the percentage value of the category, so that in total a maximum score of 10,000 is possible. For this category, since there is a range from 1 to 8 concentrations, schools can earn up to 2,400 points.

Here are top schools by available MBA concentration:

1t. Colorado- Denver
1t. Michigan – Flint
1t. Northeastern
1t. Worcester Poly
5t. Gonzaga
5t. Wisconsin - Whitewater
7t. Fayetteville State
7t. Houston – Victoria
9t. Auburn
9t. Florida Gulf Coast
9t. Morehead State
9t. Quinnipiac

The overall lead is now as follows (points):

1st: Colorado – Denver (6,363)
2nd: Gonzaga (6,023)
3rd: Michigan – Flint (5,979)
4th: Worcester Poly (5,956)
5th: Wisconsin – Whitewater (5,910)
6th: Nebraska – Lincoln (5,754)
7th: Alabama (5,639)
8th: Auburn (5,613)
9th: Northeastern (5,481)
10th: Houston – Victoria (5,378)
11th: Florida State (5,361)
12th: Alabama – Birmingham (5,326)
13th: Quinnipiac (5,323)
14th: Fayetteville State (5,301)
15th: Penn State (5,297)
16th: Morehead State (5,104)
17th: Georgia Southern (4,970)
18th: Massachusetts – Amherst (4,964)
19th: Florida Gulf Coast (4,869)
20th: Suffolk (4,725)
21st: Washington State (4,708)
22nd: Wyoming (4,702)
23rd: North Texas (4,684)
24th: Florida (4,670)
25th: Texas – San Antonio (4,665)

The Best Online MBA Schools (AACSB) for 2010 Part Eleven: Minimum GMAT

This category is useful but less significant than the average GMAT score, because it defines a floor which all students meet or exceed, but does not define the actual caliber of the students as a group. This category is worth 1.79% of the total.

In terms of scoring, each school earns up to 100 times the percentage value of the category, so that in total a maximum score of 10,000 is possible. For this category, since there is a range from 200 (if the GMAT is required or a score floor is established) to 600, schools can earn up to 179 points.

Here are the top minimum GMAT score requirements of our group of schools:

1t. Florida
1t. Nebraska - Lincoln
3t Mississippi
3t. Oklahoma State
3t. Massachusetts - Amherst
3t. Massachusetts - Lowell
3t. Wyoming
8t. Indiana - Bloomington
8t. North Dakota
8t. Quinnipiac
8t. Western Kentucky
8t. Worcester Poly

The overall lead is now as follows (points):

1st: Massachusetts – Amherst (4,664)
2nd: Nebraska – Lincoln (4,554)
3rd: Alabama (4,439)
4th: Washington State (4,408)
5th: Wyoming (4,402)
6th: Florida (4,370)
7th: Texas – San Antonio (4,365)
8th: Oklahoma State (4,331)
9th: Mississippi (4,204)
10th: Texas – Pan American (4,193)
11th: Florida International (4,173)
12th: Florida State (4,161)
13th: Texas – Dallas (4,128)
14th: Alabama – Birmingham (4,126)
15th: Auburn (4,113)
16th: Penn State (4,097)
17th: North Texas (4,084)
18th: Indiana – Bloomington (4,075)
19th: Georgia Southern (4,070)
20th: South Dakota (4,035)
21st: Arizona State (3,992)
22nd: Massachusetts – Lowell (3,983)
23rd: Colorado – Denver (3,963)
24th: Temple (3,930)
25th: Gonzaga (3,923)

The Best Online MBA Schools (AACSB) for 2010 Part Ten: Average GMAT

This category is tremendously important, second only to the number of concentrations available in a program. The reason this counts as 18% of the total score, is because the average GMAT score of full-time students indicates the caliber of your colleagues at school, not least because full-time students help establish course expectations, and higher GMAT scores raise expectations. A good school should challenge the candidate.

In terms of scoring, each school earns up to 100 times the percentage value of the category, so that in total a maximum score of 10,000 is possible. For this category, since there is a range from 400 to 653 (where scores are reported), schools can earn up to 1,800 points. If average GMAT scores are not reported or the GMAT is not required by the school, a default 551.3 points are awarded.

Here are the ten highest average GMAT score averages in our group of schools:

1. Indiana – Bloomington
2. Penn State
3. Temple
4. Nebraska - Lincoln
5. Massachusetts - Amherst
6. Alabama
7. Florida
8. Drexel
9. Thunderbird
10. Worcester Poly

The overall lead is now as follows (points):

1st: Massachusetts – Amherst (4,500)
2nd: Nebraska – Lincoln (4,375)
3rd: Washington State (4,303)
4th: Alabama (4,296)
5th: Texas – San Antonio (4,246)
6th: Wyoming (4,238)
7th: Florida (4,191)
8th: Oklahoma State (4,167)
9th: Florida International (4,143)
10th: Florida State (4,132)
11th: Auburn (4,083)
12th: Texas – Pan American (4,074)
13th: Penn State (4,067)
14th: North Texas (4,054)
15th: Mississippi (4,040)
16th: Texas – Dallas (4,009)
17th: Alabama – Birmingham (3,983)
18th: Arizona State (3,962)
19th: Georgia Southern (3,935)
20th: Colorado – Denver (3,933)
21st: Indiana – Bloomington (3,925)
22nd: South Dakota (3,916)
23rd: Temple (3,900)
24th: Gonzaga (3,894)
25th: Drexel (3,863)

The Best Online MBA Schools (AACSB) for 2010 Part Nine: Operating Budget

This category is one which matters more for an online school than for many traditional programs. The online student is dependent on technology, not only in his own hardware and software but in the school’s resources. Access to research and course data is critical for students, especially when performing real-time discussions and projects, so the school’s operating budget reflects its ability to meet that demand.

In terms of scoring, each school earns up to 100 times the percentage value of the category, so that in total a maximum score of 10,000 is possible. For this category, since there is a range from $1,768,743 to $90,020,515 for these budgets, schools can earn up to 107 points.

Here are the ten highest Operating Budgets for our group of schools:

1. Indiana - Bloomington
2. Arizona State
3. Thunderbird
4. Suffolk
5. Florida
6. Hong Kong Poly
7. Penn State
8. Florida International
9. Texas – Dallas
10. Temple

The overall lead is now as follows (points):

1st: Laval (2,888)
2nd: Texas – Pan American (2,839)
3rd: Texas – El Paso (2,821)
4th: Massachusetts – Amherst (2,798)
5th: Washington State (2,776)
6th: Texas – Arlington (2,759)
7th: Wyoming (2,709)
8th: Auburn (2,705)
9th: Texas – San Antonio (2,698)
10th: North Texas (2,695)
11th: Nebraska – Lincoln (2,651)
12th: Florida International (2,622)
13th: Oklahoma State (2,616)
14th: Alabama (2,612)
15th: Florida State (2,589)
16th: Mississippi (2,551)
17th: Georgia Southern (2,546)
18th: Texas – Dallas (2,542)
19th: Florida (2,509)
20th: West Georgia (2,486)
21st: Kennesaw State (2,448)
22nd: Alabama – Birmingham (2,447)
23rd: Durham (2,420)
24th: SUNY – Utica (2,400)
25th: Colorado – Denver (2,389)

The Best Online MBA Schools (AACSB) for 2010 Part Eight: MBA Out-of-state Tuition

This category is one of the more important ones. For a lot of MBA candidates, the cost of your tuition is an important factor in where you go to school, so this category counts for a full 10% of the total, surpassed only by the number of concentrations, the average GMAT score of students, and the degree levels offered by the school.

In terms of scoring, each school earns up to 100 times the percentage value of the category, so that in total a maximum score of 10,000 is possible. For this category, since there is a range from $8,881 to $81,665 for a year of tuition and fees, schools can earn up to 1,000 points.

Here are the ten lowest MBA out-of-state tuition rates of our group of schools:

1. Michigan - Flint
2. Laval
3. Texas – Pan American
4. Texas – Tyler
5. Southern Arkansas
6. Rowan
7. Fayetteville State
8. Mississippi
9. Western Kentucky
10. SUNY – Utica

The overall lead is now as follows (points):

1st: Laval (2,846)
2nd: Texas – Pan American (2,829)
3rd: Texas – El Paso (2,811)
4th: Massachusetts – Amherst (2,770)
5th: Washington State (2,751)
6th: Texas – Arlington (2,732)
7th(tie): Auburn (2,697)
Wyoming (2,697)
9th: North Texas (2,671)
10th: Texas – San Antonio (2,667)
11th: Nebraska – Lincoln (2,628)
12th: Oklahoma State (2,580)
13th: Florida International (2,576)
14th: Alabama (2,569)
15th: Florida State (2,560)
16th: Mississippi (2,541)
17th: Georgia Southern (2,531)
18th: Texas – Dallas (2,497)
19th: West Georgia (2,478)
20th: Florida (2,442)
21st: Alabama – Birmingham (2,434)
22nd: Kennesaw State (2,423)
23rd: Durham (2,406)
24th: SUNY – Utica (2,396)
25th: Morehead State (2,376)

The Best Online MBA Schools (AACSB) for 2010 Part Seven: Undergraduate Out-of-state Tuition

This category is another pretty minor selection, which is why it counts for only 0.71% of the total, but it does matter a bit because, like the other tuition data, the undergraduate tuition rate often serves as a barometer for the graduate rate.

In terms of scoring, each school earns up to 100 times the percentage value of the category, so that in total a maximum score of 10,000 is possible. For this category, since there is a range from $4,738 to $70,000 for a year of tuition and fees, schools can earn up to 71 points.

Here are the ten lowest undergraduate out-of-state tuition rates of our group of schools:

1. Laval
2. Durham
3. Kennesaw State
4. Southern Arkansas
5. Louisiana - Monroe
6. Houston - Victoria
7. Texas – Permian Basin
8. Wyoming
9. Texas – Tyler
10. Alabama - Birmingham

The overall lead is now as follows (points):

1st: Texas – El Paso (1,939)
2nd: Texas – San Antonio (1,936)
3rd: Washington State (1,932)
4th: Florida State (1,931)
5th: Massachusetts – Amherst (1,930)
6th(tie): Oklahoma State (1,927)
Nebraska – Lincoln (1,927)
8th: Texas – Arlington (1,926)
9th: Alabama (1,923)
10th: North Texas (1,917)
11th: Florida (1,913)
12th: Colorado – Denver (1,907)
13th: Texas – Dallas (1,902)
14th: Florida International (1,889)
15th: Arizona State (1,872)
16th: Penn State (1,856)
17th(tie): Laval (1,846)
Indiana – Bloomington (1,846)
19th: Texas – Pan American (1,833)
20th: Wyoming (1,827)
21st: Auburn (1,823)
22nd: Durham (1,799)
23rd: Temple (1,721)
24th: Drexel (1,671)
25th: Hong Kong Poly (1,645)

The Best Online MBA Schools (AACSB) for 2010 Part Six: MBA In-state Tuition

This category is more important than undergraduate tuition, since we’re talking about MBA tuition, but it’s still relative minor, since a true online school will want to attract candidates from outside their state. So this category counts for 2.14% of the whole set.

In terms of scoring, each school earns up to 100 times the percentage value of the category, so that in total a maximum score of 10,000 is possible. For this category, since there is a range from $3,617 to $81,665 for a year of tuition and fees, schools can earn up to 214 points. Here are the ten lowest MBA in-state tuition rates of our group of schools:

1. Fayetteville State
2. Laval
3. Texas – Pan American
4. Texas - Tyler
5. Georgia Southern
6. Texas A&M - Commerce
7. Southern Arkansas
8. Louisiana - Monroe
9. Mississippi
10. West Georgia

The overall lead is now as follows (until the last category, amounts under a point are rounded):

1st: Texas – El Paso (1,880 points)
2nd: Massachusetts – Amherst (1,875 points)
3rd(tie): Florida State (1,874 points)
Washington State (1,874 points)
5th: Texas – San Antonio (1,873 points)
6th(tie): Nebraska – Lincoln (1,869 points)
Oklahoma State (1,869 points)
8th: Texas – Arlington (1,866 points)
9th: Alabama (1,864 points)
10th(tie): Florida (1,862 points)
North Texas (1,862 points)
12th: Texas – Dallas (1,847 points)
13th: Colorado – Denver (1,846 points)
14th: Florida International (1,830 points)
15th: Arizona State (1,815 points)
16th: Penn State (1,806 points)
17th: Indiana – Bloomington (1,796 points)
18th: Laval (1,775 points)
19th: Texas – Pan American (1,771 points)
20th: Auburn (1,764 points)
21st: Wyoming (1,762 points)
22nd: Durham (1,730 points)
23rd: Temple (1,668 points)
24th: Hong Kong Poly (1,640 points)
25th: Drexel (1,624 points)

The Best Online MBA Schools (AACSB) for 2010 Part Five: Undergraduate In-state Tuition

This category is admittedly pretty minor, which is why it counts for only 0.36% of the total, but it does have meaning. If nothing else, the undergraduate tuition rate often serves as a barometer for the graduate rate, so you need to watch it. This is the weakest category of the fifteen I use, but it still counts.

In terms of scoring, each school earns up to 100 times the percentage value of the category, so that in total a maximum score of 10,000 is possible. For this category, since there is a range from $1,930 to $42,100 for a year of tuition and fees, schools can earn up to 36 points. This is the first category which begins to set schools apart from each other.

Here are the ten lowest undergraduate in-state tuition rates of our group of schools:

1. Laval
2. Kennesaw State
3. Durham
4. Wyoming
5. Fayetteville State
6. Louisiana – Monroe
7. Georgia Southern
8. Florida Gulf Coast
9. Florida International
10. East Carolina

The overall lead is now as follows:

Tied for 1st at 1,684 points:
Florida
Florida International
Florida State

4th: Alabama (1,683 points)

Tied for 5th at 1,682 points:
Arizona State
Colorado – Denver
Nebraska – Lincoln
Oklahoma State
Texas – San Antonio
Washington State

Tied for 11th at 1,681 points:
Texas – Arlington
Texas – El Paso

Tied for 13th at 1,680 points:
Indiana – Bloomington
Massachusetts – Amherst

Tied for 15th at 1,679 points:
North Texas
Texas – Dallas

17th: Penn State (1,675 points)

18th: Laval (1,561 points)

Tied for 19th at 1,560 points:
Durham
Wyoming

Tied for 21st at 1,558 points:
Auburn
Texas – Pan American

23rd: Temple (1,552 points)

24th: Drexel (1,538 points)

25th: Hong Kong Polytechnic (1,527 points)

The Best Online MBA Schools (AACSB) for 2010 Part Four: Degree Levels

This one may not appear important, but a university which offers you an MBA may later be attractive for a doctorate, or additional certification. A school which offers more degree levels is more serious in its mission.

In terms of scoring, each school earns up to 100 times the percentage value of the category, so that in total a maximum score of 10,000 is possible. For this category, since there are four levels to consider, schools can earn 25%, 50%, 75% or 100% of 100 times the 14.00 value of the category, or 350, 700, 1050, or 1400 more points.

Twenty-five AACSB schools with online MBA programs offer the full four degree levels. They are, alphabetically (2009 ranking in parentheses):

Alabama
Arizona State
Auburn (1)
Colorado – Denver (4)
Drexel (2)
Durham (25t)
Florida (21)
Florida International
Florida State (22t)
Hong Kong Polytechnic
Indiana – Bloomington
Laval
Nebraska – Lincoln (22t)
North Texas (25t)
Oklahoma State
Penn State
Temple
Massachusetts - Amherst
Texas – Arlington (25t)
Texas – Dallas (11t)
Texas – El Paso
Texas – Pan American
Texas – San Antonio
Washington State
Wyoming (24)

The lead is now a 17-way tie for first, with another 8 teams tied for 18th place:

Tied for 1st at 1,650 points:
Alabama
Arizona State
Colorado – Denver (4)
Florida (21)
Florida International
Florida State (22t)
Indiana – Bloomington
Massachusetts - Amherst
Nebraska – Lincoln (22t)
North Texas (25t)
Oklahoma State
Penn State
Texas – Arlington (25t)
Texas – Dallas (11t)
Texas – El Paso
Texas – San Antonio
Washington State

Tied for 18th place at 1,525 points:
Auburn (1)
Drexel (2)
Durham (25t)
Hong Kong Polytechnic
Laval
Temple
Texas – Pan American
Wyoming (24)

(The reference to 2009 rankings will not be continued again until the final rankings)

The Best Online MBA (AACSB) Schools for 2010 Part Three: AACSB Accreditation Levels

We’ll start simple. The AACSB accredits schools as either Business schools, or as both Business and Accounting schools. The reason it matters, is not only for people who want to focus on Accounting as a concentration or career, but the additional effort by the school reflects, in my opinion, a superior academic standard which should be reflected in the overall MBA curriculum.

In terms of scoring, each school earns up to 100 times the percentage value of the category, so that in total a maximum score of 10,000 is possible. For this category, since there are two levels to consider, accreditation in both Business and Accounting earns 100% of (100 x 2.5) or 250 points. Accreditation in Business only earns half that, or 50% of (100 x 2.5) or 125 points.

Twenty-nine AACSB schools with online MBA programs are accredited in both Business and Accounting, so we start with a 29-school tie for the early lead. They are, alphabetically (2009 ranking in parentheses):

Alabama
Alabama - Birmingham
Arizona State
Colorado – Denver (4)
Florida (21)
Florida International
Florida State (22t)
Georgia Southern
Gonzaga
Indiana – Bloomington
Kennesaw State
Louisiana – Monroe
Massachusetts - Amherst
Mississippi
Nebraska – Lincoln (22t)
North Texas (25t)
Oklahoma State
Penn State
Portland State
Suffolk (18)
Tennessee Tech (5t)
Texas – Arlington (25t)
Texas – Dallas (11t)
Texas – El Paso
Texas – San Antonio
Towson
Washington State
West Georgia
Western Kentucky

Best Online MBA Program, 2010 Discussion Part 1

Many of you know that every year, I put together my list of what are, in my opinion, the best Online MBA programs available. While there is a certain subjectivity to any ranking system, I try to be clear about my criteria, and to improve on my system. As a result, if a achool changes in my rankings from one year to another, that should be taken necessarily to mean that the school has improved or declined in quality, especially since more and more mainstream universities are coming to understand the need to serve the demographic of the population which finds the online MBA most appealing. Before looking again the criteria for a top online MBA program, in this first section I want to examine what sort of student should choose that means to atain their Master of Business Administration.

Years ago, there was a pernicious myth spread about online degrees, that they did not represent real work or a quality student. The image of the slacker seeking an easy degree or worse, the cheat who figured he could sneak his way to a degree he never earned, or the school that was 'too easy' on their students who trook online classes, all of these images persisted through rumors and innuendo, perpetuated through imagination and a bit of elitism. The main problem was, a lot of online schools weren't very good, and the conventional brick-n-mortar universities held command of the best job opportunities for graduates. That has changed a bit in recent years, however. That's not to say that you can expect a fast-track-to-C-suite position when you graduate with an online degree, and sadly the 'online' tag still carries a stigma in certain industries. But there are a number of paradigm changes which brought major changes into the online degree community.

First, the global economy. It may seem strange to Americans in this blame-America culture that is so popular, but American business practices, even in spite of Worldcom and Enron, remain the standard for the world, and the MBA is quintessentially American. So, the international professional who cannot afford to come to the United States in person for his MBA, will be interested in earning it online if that can be done.

Second, the economy of Academia. The Boomers have gone and there's no reason to believe the next few generations will provide as many students as before. Costs continue to rise for universities, especially buildings and materials. Eventually, universities will discover that the most cost-effective way to operate is to add online students, which is far less expensive than face-to-face classes.

Third, those demographics again. People earn an MBA to be competitive in their business career. But not everyone is able to go after an MBA right after earning their Bachelor's degree, and many people want to earn their MBA while they are working in professional positions. And if you are raising a family while working a manager's job, your schedule is not always going to allow you time for noinal sclass schedules, especially when traditional schools like to keep their professors happy by scheduling core course in weekday mornings and afternoons when professionals cannot possibly attend. This reality drives professionals, people with serious experience and a very valuable perspective on what really works in business, to attend online classes.

And finally, money. I mentioned that costs for universities are rising fast. But regular people don't have extra money to keep paying higher tuition and fees. Sure, an MBA from Wharton, Harvard, or Stanford would be very nice, but you have to know what you can pay for - it's nice to talk about how your top-tier job will pay for all of that, but frankly it's stupid to count on a top-dollar job in today's world right out of school, it's stupid to load yourself down with debt just to get a degree when half the idea is to make sure you understand the concepts and lessons that make the difference between a true businessman and another Bernie Madoff. And it's stupid to ignore opportunity that is within your range, in terms of coast and with acceptable quality. 90 percent of people who earn an MBA would be wasting money to go to a school primarily because of its prestige, because your career will depend more on your accomplishments in the real job and what you really learn and apply as you get there. Sometime I will mention the top business leaders who never earned an MBA, and I should not have to remind you of the many people proved to be good at making money for themselves, but whose principles were pathetic. If you do it right, you can earn an MBA without getting into serous debt, without giving yourself illusions about who you are and what you can do, but which will equip you with real tools to get a good job, prove your worth and get promoted, and have a truly fulfilling career.

The online MBA, if you earn it from a good school, will be demanding in terms of work and effort, you will worry about getting through some of the classes, and anyone who thinks they are taking an easy road to their MBA is either in for a surprise or picked a worthless school. The online student will have to be self-disciplined, he will have to establish and keep his own study practices, he will have to make contact with and keep a network of study partners and project buddies. And he will have to seek out his own job opportunities, prepare his own resume and monitor his own degree and career progress. That's not to say your school won't help, but the online student must be far more self-reliant and disciplined.

For the record, I completed my MBA from the University of Houston at Victoria in May 2009. I am now making 28% more than my salary from last year, and I am a full garde higher in role, having accepted a position with a new company. Ironically, this came after being laid off. Was I fortunate? Without a doubt, but I worked hard and my degree made a real difference.

I can't speak for everyone, but I can say an online MBA, if you do the work and choose the right school, can be as good as many traditional MBA programs.


NEXT - HOW TO FIND A GOOD ONLINE MBA PROGRAM, AS I SEE IT.

Top Online MBA School Profile - #10 The University of North Dakota

The University of North Dakota finished in tenth place among AACSB-accredited schools offering online MBAs. This article profiles the school.

The University of North Dakota was founded in 1883. An interesting bit of trivia, is that the University was named for North Dakota six years before the territory was named as the state of North Dakota.

UND offers only one MBA degree but says it is “interdisciplinary".

UND’s MBA requires 32 hours of coursework (11 classes). The curriculum requires a minimum two years to complete.

According to the AACSB, the average GMAT score of UND’s MBA students is 566.5. UND says the minimum accepted GMAT score is 500.

Tuition at UND for all students is $244.75 per semester hour, plus $52.74 per credit hour mandatory fees, $50.00 per credit hour for online fee, tallying $347.49 per semester hour. Therefore a student will pay $11,120 in tuition and fees for an MBA from UND. Add in books, and a student will pay about $13,320 for a UND MBA.

According to the AACSB, 102 of 1,744 total students at UND are MBA students (05.8%).

Top Online MBA School Profile - #9 University of Colorado at Colorado Springs

The University of Colorado at Colorado Springs finished in ninth place among AACSB-accredited schools offering online MBAs. This article profiles the school.

UCCS was founded in 1965 as an extension of the University of Colorado system.

UCCS allows students to earn their MBA in face-to-face classes or online as they choose; the courses are identical. Degree specializations are Finance, General Business, Health Care Administration, Information Systems, International Business, Management, Marketing, Project Management, Space Systems Management, and Technology Management.

The curriculum requires 12 courses for 36 hours of work, to be taken in 18 to 60 months, but usually completed in 2 or 3 years.

According to the AACSB, the average GMAT score of UCCS’s MBA students is 555. UCCS says the average GMAT score for its students is 550.

Tuition and fees at UCCS vary by the number of hours taken per semester. Since the school recommends 2 or 3 years, the average of 30 months for the 12 courses, or 6 hours per semester is used here. The tuition for Colorado residents is $2,929 for six hours of courses, and $5,879 for non-residents. Therefore a Colorado resident will pay about $8,827 in tuition and fees for an MBA from UCCS, while a non-resident will pay $17,677 in tuition and fees. Add in books, and a Colorado resident will pay about $11,227 for an MBA from UCCS, and a non-resident will pay about $20,077 for an MBA from UCCS. UCCS has a $25 Matriculation fee and a $15 Student ID fee.

According to the AACSB, 402 of 1,436 total students at UCCS are MBA students (28.0%).

Top Online MBA School Profile - #7 (tie) Wayne State University

Wayne State finished in a tie for seventh place among AACSB-accredited schools offering online MBAs. This article profiles the school.

Wayne State is an urban research university located in Detroit, Michigan. Wayne State was originally founded in 1868 as the Detroit Medical College, which is now the Medical School at WSU. The school took its present name in 1956.

Wayne State offers a variety of MBA programs, traditional to part-time to Saturday to Online classes (warning – online classes require final exams to be taken in person on campus) to a dual JD/MBA degree. Wayne State offers concentrations in Accounting, Finance, General Business, Management, Marketing, Human Resource, International Business, Leadership and Organizational Behavior, Management Information Systems, Quality Management, and Taxation.

Wayne State’s MBA requires 36 semester hours, or twelve courses, byond what it calls pre-foundational requirements, which can usually be satisfied with a Bachelor’s degree in a business major.

According to the AACSB, the average GMAT score of Wayne State’s MBA students is 530. Wayne State says the minimum accepted GMAT score is 450.

Tuition and fees at Wayne State for Michigan residents are $414.50 per semester hour, and $846.10 for non-residents. Therefore a Michigan resident will pay about $14,922 in tuition and fees for an MBA from Wayne State, while a non-resident will pay $30,460 in tuition and fees. Add in books, and a Michigan resident will pay about $17,322 for a Wayne State MBA, and a non-resident will pay about $32,860 for an MBA from Wayne State. If foundational courses are needed, a Michigan resident will pay $25,983 for an MBA from Wayne State and a non-resident would pay $49,289.

According to the AACSB, 1,186 of 3,924 total students at Wayne State are MBA students (30.2%).