The Top 5 MBA Programs in Minnesota

MBA Programs in Minnesota - featured image

Minnesota is known for many great things—natural beauty, a rich culture, and a diverse landscape. In addition to its 10,000 lakes and other scenery, Minnesota has outstanding GDP figures. In 2023, its GDP reached $353.7 billion, with a growth rate of 20.3%.

As a business student, you can expect a lot when you study and pursue a career in Minnesota. It’s not called the “problem-solving capital of America” for nothing. Here’s a glance at the state’s dynamic landscape:

  • The state has 15 Fortune 500 companies, including UnitedHealth Group, Target Corporation, CHS, Best Buy, and 3M. 
  • There are 639,185 small businesses in Minnesota. 
  • Its tech-savvy workforce is a key player as a creative idea incubator and patent powerhouse. Large-scale companies in the state collaborate with accelerators and other startup initiatives.
  • Minnesota has an unprecedented opportunity to drive inclusive growth for everyone. 

Its economic landscape provides students with internships, job placements, and experiential learning opportunities. These opportunities are the top players for business students’ personal and professional success. 

Minnesota has 80 colleges and universities, and its higher education landscape is also thriving. In fact, the state has a higher count of educated individuals than its border states. 

If you’re looking for an MBA degree from a state that offers high-quality living and vast professional opportunities, look no further. We’ve listed the top business schools with accredited MBA programs offering a curriculum for nationally competitive students. 

Top 5 MBA Programs in Minnesota

Carlson School of Management – University of Minnesota

Carlson School of Management - University of Minnesota

The University of Minnesota is among the oldest institutions in the US, with its roots dating back to 1851—years before Minnesota even became a state. UMN has various colleges and universities offering over 150 academic programs. 

UMN’s Carlson School of Management is recognized by AACSB International. The US News and World Report ranked Carlson School as one of the top-performing business schools. The school offers twelve degree programs, including various MBA tracks:

Each MBA program offers an intensive curriculum instructed by UMN’s esteemed and award-winning faculty members. MBA students will have access to a wide range of international alumni networks, providing valuable connections and global collaboration opportunities. 

MBA students at UMN Carlson will be trained rigorously to have what it takes to compete nationally and abroad. They’ll have various opportunities dedicated to professional advancements, such as working with real clients in addressing business issues, study abroad options, and guidance in building lifelong connections within the community. 

Opus College of Business – University of St. Thomas-Minnesota

Opus College of Business - University of St. Thomas-Minnesota

The University of St. Thomas-Minnesota is a top private Catholic university established initially for Catholic immigrants suffering social and economic hardship in 1885. It offered high school, college, and seminary education. Today, St Thomas is among the most competitive private schools nationwide. 

The Opus College of Business of St. Thomas, especially its graduate degrees, has been recognized for its dedication to providing working adults with high-quality education. Accredited by the AACSB International, Opus College offers competitive undergraduate and graduate degrees. There are three MBA degrees:

These MBA programs are designed for students with accredited bachelor’s degrees to build on their undergraduate knowledge and skills. The specific curriculum of each MBA degree varies. Nevertheless, MBA students can customize their learning style. 

Students have experiential learning opportunities to demonstrate and advance their practical skills. There are also various graduate certificate options students can pursue to tailor their academic journey:

College of Business – Minnesota State University Mankato 

Minnesota State University - Mankato College of Business

Minnesota State University, Mankato, is the second-largest higher education institution in the state, enrolling over 14,000 students annually. MSU Mankato is best known for its dedicated student support services. MSU’s Center for Academic Success offers various services to help students navigate the complexities of higher education, such as tutoring and academic advising. 

Business students who excel in large academic environments can consider MSU Mankato’s College of Business. Accredited by the AACSB, the Mankato College of Business offers several bachelor’s and master’s degree programs, including: 

This MBA program features 100% online learning coursework, perfect for those with full-time careers. Mainly designed for mid-level professionals, the program features two-credit courses within eight-week terms. One of the program’s stand-out features is its Executive Lecture Series, which bridges top executives and MBA students. 

Students have the opportunity to participate in global enrichment programs. These programs provide international exposure to help students understand global business practices. 

The Business Leadership Graduate Certificate is an excellent option for those looking to enhance their leadership skills. It includes training in networking, conducting research, managing group dynamics, implementing communication strategies, constructing negotiation tactics, and evaluating ethical dilemmas. 

Herberger Business School – St. Cloud State University

Herberger Business School - St. Cloud State University

St. Cloud State University is primarily known for its active and applied learning initiatives. It offers over 2,000 nationwide opportunities and a vast alumni network that gives students access to real-world experiences and valuable industry connections. Students can also expect access to various student services.

SCSU houses one of the best AACSB-accredited business schools in the nation. The Herberger Business School, with a competitive admissions process, enrolls students with high GPAs in their undergraduate studies. Herberger has two MBA learning formats:  

Students enrolled in either MBA format will meet with a mentor/coach who will help them design their academic learning styles. The same full-time on-campus faculty and seasoned business professionals teach SCSCU MBA programs. Students can concentrate on:

  • Accounting,
  • Finance,
  • Information Systems,
  • Management and Leadership,
  • Professional Sales, or 
  • Supply Chain Management 

College of Management and Human Potential – Walden University

College of Management and Human Potential - Walden University

Walden University is a highly respected online university designed for working and busy adult students. Walden is among the best institutions for those who wish to study online. 

The College of Management and Human Potential offers high-quality business degrees for aspiring business leaders. The college emphasizes high-quality curriculum and interactive content with each of its programs. Although with limited offerings, Walden offers three business graduate degrees, including the:

The ACBSP accredits this OMBA. It allows students to customize and align their learning schedules with their current schedules. Students can choose between course-based learning and tempo learning. They can graduate in one year by doubling their course load per semester. 

Students can customize their learning experience and concentrate on Healthcare Management or Human Resource Management. They can also design their concentration.

MBA Programs in Minnesota - fact

Frequently Asked Questions

How much can I make with an MBA in Minnesota?

The salary depends on your position, company size, and location. However, according to ZipRecruiter, the average annual salary of MBA professionals in Minnesota is $153,027. MBAs employed at Maple Grove, Brooklyn Park, and St. Paul have higher average salaries.  

Who are the top MBA employers in Minnesota? 

The top MBA employers in Minnesota are those that have established a strong presence in the state’s diverse and dynamic business landscape. Here are some of the state’s top MBA employers (these are Fortune 500 companies): 

How much is an MBA in Minnesota? 

The cost of an MBA depends on various factors, including institution type, residency status, credit transfers, delivery format, and financial assistance. According to the Education Data Initiative, the average cost of a master’s degree is $65,134. Here’s a quick breakdown of tuition in Minnesota MBAs:

Institution Average Tuition Fee
University of MinnesotaFull-Time MBA: $43,680 (in-state); $55,920 (out-of-state)
University of St. Thomas EMBA $17,910.00/term 
MSU Mankato$14,664 (in-state); $19,254 (out-of-state)
St. Cloud State University $13,006 
Walden University $25,630

Is Minnesota a good place for an MBA?

Yes. Minnesota is among the best places to pursue a business education and an MBA career. In addition to its established companies, Minnesota has over 600k small businesses that require the help of MBA professionals to expand their ventures. Some opportunities extend beyond the state, offering various industries for MBA graduates to explore.

Moreover, the state’s low cost of living, which is 3% lower than the national average, makes it an attractive destination for students seeking an affordable yet highly competitive environment. This lower cost of living translates into more affordable housing options and potentially lower tuition fees, making your MBA journey in Minnesota more financially manageable. 

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