2025 Best MBA Programs in Illinois

Compare MBA Program Averages in 2025
Illinois, the U.S. and Online

Averages	Illinois MBA Programs	Online MBA Programs	MBA Programs Nationwide
Average MBA Tuition	$135,695	$76,119	$85,145
Average Graduate Salary	$89,995	$82,169	$85,550
Average ROI	191%	196%	185%
Average GMAT Scores	567	561	567

What is the Average Tuition for MBA Programs in Illinois?

If you plan on attending an MBA program, it’s best to start thinking about fiscal responsibility. A prospective B-Student needs to weigh their tuition options. An AACSB-accredited MBA program can pave the way for a great starting salary or career advancement. An online MBA program can provide the flexibility of completing a program while being employed in your respective career.

While the average in-person MBA program in Illinois will cost about $135,695, the least expensive MBA program is $15,720 from University of Illinois at Springfield, and the most expensive is $1,521,252 from Illinois State University.

An Online MBA program from an institution in Illinois will cost you between $15,720 from University of Illinois at Springfield and $157,542 from Northeastern Illinois University. The average cost of online MBA programs within Illinois is $59,059.

Average Tuition for In-Person MBA Programs

Average: $135,695 from Illinois’s 19 in-person MBA Programs
Lowest in-person: $15,720 from University of Illinois at Springfield
Highest in-person: $1,521,252 from Illinois State University

What is the Average Graduate MBA Salary in Illinois?

While the average starting salary for graduates of an in-person MBA program in Illinois is about $89,995, the lowest average MBA starting salary is $43,087 from Southern Illinois University Carbondale, and the highest average MBA starting salary is $206,000 from The University of Chicago.

The average starting salary for graduates of an Online MBA program from an institution in Illinois is between $43,087 from Southern Illinois University Carbondale and $113,000 from Dominican University. The average starting MBA salary for graduates of online MBA programs within Illinois is $80,881.

Average Graduate Salaries for In-Person MBA Programs

• Average: $89,995 from Illinois’s 19 In-Person MBA Programs
• Lowest In-Person: $43,087 from Southern Illinois University Carbondale
• Highest In-Person:$206,000 from The University of Chicago

What is the Average ROI for MBA Programs in Illinois?

Choosing an MBA program requires more than a glance at the school’s reputation or curriculum. The return on investment (ROI) should take center stage in your evaluation. This measurement reveals the potential value derived from your tuition investment, putting key factors such as starting salary and career progression under the microscope.

By scrutinizing the ROI, you’re not just making a decision—you’re making an informed one. This approach will ensure the selection of an MBA program that provides the most bang for your buck. Checking the ROI might not be an afterthought; it could be the game-changer in your MBA journey.

While the average in-person MBA program ROI from Illinois is 191%, the lowest ROI is -1% from Loyola University Chicago, and the best ROI is 436% from University of Illinois at Springfield.

The ROI from Online MBA programs in Illinois range between 22% from Illinois Institute of Technology and 436% from University of Illinois at Springfield. The average ROI of online MBA programs within Illinois is 225%.

In-Person ROI for MBA Programs

• Average: 191% from Illinois’s 19 in-person MBA Programs
• Lowest in-person: -1% from Loyola University Chicago
• Highest in-person: 436% from University of Illinois at Springfield

What is the Average GMAT Score Needed for an MBA Program in Illinois?

The Graduate Management Admission Test (GMAT) is a standardized examination used by MBA schools to assess their applicant pool. The test is strategically designed to measure an applicant’s analytical, verbal, writing and mathematical skills. The GMAT is used as a predictor of success in MBA programs and tests one’s ability to successfully handle the advanced quantitative and qualitative study of business and management.

While the average GMAT score needed for in-person MBA program in Illinois is 567, the lowest average GMAT score is for an MBA program is 455 from DePaul University, and the highest GMAT score needed is 729 from Northwestern University.

The average GMAT score needed for an online MBA program from an institution in Illinois is between 455 from DePaul University to 630 from University of Illinois at Chicago. The average GMAT scored for online MBA programs within Illinois is 546.

Average GMAT Score for In-Person MBA Programs

• Average: 567 from Illinois’s 19 in-person MBA Programs
• Lowest in-person: 455 from DePaul University
• Highest in-person: 729 from Northwestern University

No GMAT or GRE – Best MBA Programs in Illinois

MBA Schools with the Most Alumni Illinois?

The importance of networking, whether it’s by way of campus job fairs, student organization members, or faculty mentorship, should not be understated. The average MBA enrollment size has a direct impact on your studies, your job prospects, and your ability to define your career goals.

Every B-School has a strategy behind their enrollment sizes. If a prospective B-Student is looking for networking opportunities, wants to attend job fairs, and plans on joining student organizations, B-School enrollment size plays an important role in the decision making process. For the B-Student interested in the smaller cohort-style classroom experience and thrive with face-to-face collaboration with their professors, a manageable enrollment size is the preferred option.

For Illinois state’s MBA programs, the range for full-time enrollment is between 6 and 1,307. For part-time enrollment, the range is between : 12.00 and : 4,429.00.

Average Enrollment for In-Person MBA Programs

• Lowest: 6 from DePaul University
• Highest: 1,307 from The University of Chicago
• Average: 338 from Illinois’s 19 MBA Programs.
• Average: 296 from 511 the nation’s campus MBA Programs.

What MBA Concentrations Available in Illinois?

Highly competitive B-Schools recruit part-time and full-time professors that are both academic and industry influencers. They are the subject matter experts in their respective concentrations. To meet the diverse needs of Illinois businesses, MBA programs here have risen to the challenge by offering you an array of more than 43 MBA concentrations including:

• General Business: 18
• Management: 17
• Accounting: 16
• Marketing: 14
• Finance: 14
• Corporate Finance: 13
• Data Analytics: 12
• Information Systems: 11
• Economics: 10
• Entrepreneurship: 9

What Schools Offer the Widest Variety of MBA Concentrations in Illinois?

• Northwestern University: 20
• DePaul University: 19
• Loyola University Chicago: 18
• Bradley University: 17
• University of Illinois at Springfield: 15
• Illinois State University: 15
• Illinois Institute of Technology: 14
• University of Illinois at Chicago: 14
• University of Illinois at Urbana-Champaign: 13
• Northern Illinois University: 12

Cities Offering MBA Programs in Illinois

Looking for a particular city in Illinois with an accredited MBA program? Research and compare MBA programs from other cities in Illinois. Find online programs, programs by concentration, by average GMAT score and more.

• Carbondale
• Champaign
• Charleston
• Chicago
• Dekalb
• Edwardsville
• Evanston
• Macomb
• Normal
• Peoria
• River Forest
• Springfield
• University Park

The Importance of MBA Accreditation

The importance of accreditation can’t be underestimated. For many, knowing your school is accredited by the AACSB and regionally accredited by the US Department of Education is enough assurance that you will receive a quality education, where credits are more likely to transfer, and you will be qualified for loans, grants, and scholarships.

AACSB accreditation is considered to be the gold standard in business school credentialing. Established to promote high-quality business education in the U.S., AACSB members developed a stringent accreditation process. Members are held accountable for following an established business education framework set forth by the AACSB. With that comes MBA degrees conferrals that are widely recognized by Fortune 500 companies. This results in lucrative job opportunities.

MBA Program Options Available in Illinois

Options for earning your MBA in Illinois have never been more flexible. Illinois MBA programs have become adept at offering effective alternatives for you to earn your MBA, no matter your life situation or schedule.

Illinois has 19 Accredited MBA programs. 3 private and 11 public schools offering MBA programs.

Illinois has 11 public schools and 3 private schools offering MBA degree programs.

19 Accredited MBA programs.  and 11 public schools offering MBA programs.

Illinois schools offer 10 different paths to earn your MBA in Illinois including Campus, Full-Time, Part-Time, Evenings, Weekends, Online, Distance Education, Off Campus, 1-Year and Partnership.

To meet the diverse needs of Illinois businesses, MBA programs here have risen to the challenge by offering you an array of more than 43 MBA concentrations to specialize in.

Awards for MBA Programs in Illinois

The ranking of MBA programs is certainly not an exact science and plenty of subjective reasoning and biases come into play. We offer insights into ranking as another way to evaluate a potential MBA program.

Of the 19 accredited MBA programs offered in Illinois, 19 of them have been recognized by at least one distinguished publication (MBAGuide, PQ, US News, Forbes, BW, FT and Economist) garnering an award as one of the best MBA programs in the country.

Illinois schools have earned a total of 36 Best MBA awards from publications. Here are the top MBA schools and the number of awards the each program has garnered:

• The University of Chicago: 7
• Northwestern University: 7
• University of Illinois at Urbana-Champaign: 6
• Western Illinois University: 1
• Southern Illinois University Edwardsville: 1
• Northeastern Illinois University: 1
• Loyola University Chicago: 1
• Illinois State University: 1
• Illinois Institute of Technology: 1
• Bradley University: 1
• University of Illinois at Chicago: 1
• Dominican University: 1
• DePaul University: 1
• Eastern Illinois University: 1
• University of Illinois at Springfield: 1
• Southern Illinois University Carbondale: 1
• Northern Illinois University: 1
• Saint Xavier University: 1
• Governors State University: 1

Publications and the number of awards granted for Illinois schools:

• MBAGuide: 19
• US News: 3
• Forbes: 3
• BW: 3
• FT: 3
• Economist: 2

How We Rank the Best MBA Programs in Illinois

MBAGuide.org employs a comprehensive ranking methodology that combines quantitative data (80% of the score) with qualitative assessments (20%) to evaluate MBA programs. The quantitative component considers factors such as student-faculty ratio, tuition, enrollment, and post-graduation salaries, while the qualitative aspect incorporates editorial ratings and school reputation, providing a well-rounded view of each program’s quality and value.

Data sources: IPEDS, National Center of Educational Statistics, U.S. Department of Education, Institute of Education Sciences (ERIC), Association to Advance Collegiate Schools of Business (AACSB), 520 MBA Schools, U.S. Bureau of Labor Statistics (BLS). If you notice errors in the MBA program database, please contact us.

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