Online MBA in Maine
Welcome to our in-depth guide on online MBA programs in Maine! Maine is home to a few excellent business schools with respected faculty and rigorous curriculum. From the University of Maine to St. Joseph’s College, there are a handful of online MBA programs offered in state, and all are somewhat unique. We have put this guide together to help you analyze each one. All the information in this guide is specific to Maine – and we hope it helps you find a school in Maine!
- Part 1 – Online MBA Programs in Maine
- Part 2 – MBA Programs in Maine
- Part 3 – Job Outlook for Graduates
Online MBA Programs in Maine
If you are a working professional or simply cannot attend campus, an online MBA might be a good fit for you. Online programs are very flexible and typically built on the same curriculum as their campus counterparts. What’s more, some programs offer hybrid options for those who want to study online and in a traditional classroom. Below you will find information on the two online MBA programs in Maine.
1. University of Maine
The University of Maine offers an AACSB-Accredited MBA program fully online. The school has been ranked by U.S. News & World Report as one of the top 200 public universities nationwide, and its MBA program is no exception to this. The program is taught by the same faculty members that teach its campus MBA with the goal of developing well-rounded and competent graduates.
The Online MBA is 30 credits in length and built on the same curriculum as the Essential MBA. Prerequisite courses are required in subjects such as Microeconomics, Macroeconomics, and Statistics. Students can choose to pursue the degree 100% online or in a hybrid format with a mixture of campus classes.
For admission and coursework information, please see above under “Campus MBA Programs – University of Maine”.
2. St.Joseph’s College of Maine
St. Joseph’s College is located in Standish and offers graduate and undergraduate programs built on a Catholic foundation. The school is accredited by the New England Association of Schools and Colleges and offers an Online MBA in Leadership. The program is designed to equip students with the skills needed to lead and manage others. From economics to ethics and leadership, St. Joseph’s curriculum covers a wide variety of foundational topics.
The program is 42 credits in length and does not include any electives. Courses are grouped into four levels, and each level must be completed before moving onto the next. Level I is focused on the context of leadership, Level II focuses on leading relationships, Level III focuses on leading sustainability, and Level IV focuses on leading strategically. Courses are asynchronous and offered in five terms throughout the year, and are ten weeks in length. For students who wish to graduate at a faster pace, the entire program can be completed in 18 months via a fast-track option.
Students must submit an accredited undergraduate degree with a GPA of at least 2.5 when applying. Applicants are also required to have a minimum of two years full-time business work experience. Applications are reviewed throughout the year, and start dates are offered in January, March, May, July, and October. An official GMAT score is not required.
Standard Courses (42 Credits) – Business/Organizational Dynamics, Cross-Cultural Leadership, Corporate Strategic Leadership, Economics, Financial Principles and Policy, Knowledge-Based Decision-making, Leadership, Quality Leadership, Self Leadership, Statistical Thinking, Strategic Leadership of Human Capital, and Systems Thinking.
MBA Programs in Maine
A total of three institutions offer campus-based MBA programs in Maine. Each MBA program is unique and structured differently, yet all aim to produce top-notch, career ready graduates. From the University of Maine to St.Joseph’s College of Maine and Thomas College, there are a variety of options to choose from. Looking for an AACSB-Accredited MBA program? Try the University of Maine. A program with an Accounting focus? Maybe Thomas College is for you. So, take a look below and see what you can find.
1. University of Maine
The University of Maine is a public research university that has offered quality education for more than 150 years, and has been ranked by the Princeton Review as one of the nation’s “Top 50 Green Colleges”. It offers a number of AACSB-Accredited MBA programs that are built on an experiential learning framework. Students graduate from its programs with advanced problem-solving skills, a global business outlook, and deepened teamwork and leadership skills.
- Essential MBA – The Essential MBA is a 30 credit program that can be pursued fully on campus, online, or in a hybrid format. The program focuses on providing students with excellent analytical, management, and leadership skills. For students who study on-campus, an optional concentration in accounting is also offered. In addition, certain undergraduate business courses are required. These include Financial and Managerial Accounting, Micro/Macro Economics, and others.
- Accounting MBA – This option is 30 credits in length and designed to equip graduates with foundational accounting principles and skill sets. It is only offered in a blended format, which means some classes are offered on-campus and others via distance. Admittance into the program requires some prerequisite courses, such as Marketing, Management, Financial Accounting, and others.
- Five-year MBA – The Five-Year program is an aggressive program which provides graduates with an undergraduate degree and an MBA. Non-business degree majors can complete the MBA program in one year after completing their undergraduate studies. Requirements include filing a declaration of intent before starting undergraduate studies and also maintaining a GPA of at least 3.2.
Applications are received on a rolling basis and admissions is competitive. Applicants must have an accredited undergraduate degree with a GPA of at least 3.0 (3.5 is preferred) and official GMAT score. 21 credits worth of undergraduate courses in business fundamentals are also required.
Standard Courses (21 Credits) – Creating and Capturing Value in the Digital Economy, Financial Statement Analysis, Law Business in Society, Management of Contemporary Organizations, Management Policy, and Statistical Analysis and Modeling for Organizational Operations.
Accounting MBA Standard Courses (18 Credits) – Financial Statement Analysis, Financial Management, Law, Business in Society, Management of Contemporary Organizations, Management Policy, and Statistical Analysis and Modeling for Organizational Operations.
2. University of Southern Maine
The University of Southern Maine is a multi-campus university with over 9000 enrolled students and 100 areas of study. Its School of Business offers an AACSB-Accredited MBA in Business Administration, and both full-time students and working professionals will find that the program is well suited to their needs. Students graduate with enhanced leadership skills and the ability to inform and guide organizational change.
The program is 39 credits in length, which consists of 30 credits of core courses and nine elective credits. An additional 15 credits of core foundational business coursework might be required for students who lack previous business courses. The program can be completed on a part-time or full-time basis, and classes are offered in the evenings, during the day, and also during the summer. The program begins each fall, and all students are required to attend an initial orientation. Some concentrations are offered, including Accounting, Finance, Health Management and Policy, and Sustainability.
Applications are accepted on a rolling basis, and qualified applicants should submit an accredited undergraduate degree transcript and GMAT score. Work experience is not required. Recommended deadlines include the following: for spring admission, December 1st. For fall admission, February 15
Standard Courses (30 Credits) – Ethical and Legal Issues in Business, Financial Accounting, Introduction to Organizational Change, Management Science, Managerial Marketing, Practicum, and Topics in Information Systems Management. Note: Students also select from other classes to complete the 30 credits.
Program Concentrations and Specialization Options
Each requires 9 credits.
- Accounting – Example Courses: Advanced Business Taxation, Advanced Individual Taxation, and Advanced Financial Accounting Topics.
- Finance – Example Courses: Financial Engineering, International Finance, and Strategic Valuation.
- Health Management – Example Courses: Health Law and Ethics, Health Information Management, and Public Health Policy.
- Sustainability – Example Courses: Environmental Law, Local Environment Planning, and Sustainable Communities.
3. Thomas College
Thomas College was established in 1894 in Waterville, and is accredited by the New England Association of Schools and Colleges. The school offers a number of MBA programs and completion options that are built on Thomas’ focus on personal attention, practical learning, relevant experiences, and lasting value. Thomas’ General MBA program can be taken in a part-time or full-time accelerated format. The accelerated option is cohort-based and enables students to graduate in less than one year. It begins in August or January, and is open to all students in various academic backgrounds. Concentrations include General and Accounting.
- Healthcare Management MBA – This program is designed to prepare students for roles in health administration, health entrepreneurship, and administrative roles. Students graduate from the program with the ability to apply strategic planning and decision-making to healthcare organizations, identify and apply theories, and more. The program is 39 credit in length, which includes 18 credits of required courses and the remainder electives.
- Human Resource Management MBA – This program provides students with specific skills, knowledge, and abilities in the area of human resource management. Students graduate from the program with the ability to understand organizational strategy, structure and culture, applied decision-making tools to problems, and much more. This program is 36 credits in length, which includes 21 credits of required courses and 15 credits of electives.
- Project Management MBA – This program is 36 credits in length and provides its graduates with the ability to oversee leadership roles within organizations. It consists of 18 core credits and 18 project management specific credits. Students graduate from the program with the ability to communicate and negotiate, lead and manage, and apply project management principles to the workplace.
Applications to Thomas’ accelerated and part-time programs are accepted all year. Applicants must submit an accredited undergraduate transcript, along with an official GMAT/GRE score. Professional work experience is not required.
General MBA Standard Courses (21 Credits) – Accounting for Management Decisions, Economic Assistance, Financial Management, Organizational Theory and Behavior, Strategic Planning, Marketing Management, and Operations Research Techniques.
Healthcare Management Standard Courses (39 Credits) – Accounting for Management Decisions, Economic Systems, Financial Management, The United States Healthcare System, Healthcare Informatics, Healthcare Reimbursement, Healthcare Supply, Organizational Theory and Behavior, Management of Human Resources, Strategic Planning, Marketing Management, Operations Research Techniques, and Graduate Elective.
Human Resource Management Standard Courses (21 Credits) – Accounting for Management Decisions, Economic Systems, Financial Management, Organizational Theory and Behavior, Management of Human Resources, Strategic Planning, and Marketing Management.
Project Management Standard Courses (19 Credits) – Accounting for Management Decisions, Complex and Advanced Projects, Economic Systems, Financial Management, Innovation, Change and Agile Projects, Managerial Risk Analysis and Decision-making, Marketing Management, Operations Research Techniques, Project Management Specializations One, Two, Three, Project Management, and Strategic Planning.
Maine MBA Salary and Job Outlook
There are multiple ways that career outlook can be assessed, and one of them is by looking at a States economic condition. The Bureau of Economic Analysis tells us that in 2014 Maine’s GDP was $54.3 Billion, which places the state at #46 in the nation. And although its GDP slipped in 2014 by .1%, it has grown by almost $10 Billion dollars between 2004-2014. Apart from GDP, Maine sits at #8 across the nation for unemployment at 3.4% (March 2016) – which is very positive. What’s more, the state projects that general and operations managers jobs should grow by 2.1% between 2012-2022. And, state data also points to management jobs as being paid the highest average annual wage, at $90,200 (maine.gov). Those numbers are good news for MBA graduates.
A second way of assessing job outlook is by looking at employers. Maine is home to 13 privately owned companies that have made the Inc. 5000 list. From energy to software, telecommunications and marketing, these companies span a number of industries. And what’s more, as each grows it will be in need of the HR, management, and financial skills that MBA graduates can bring. Examples include Cashstar (#600), Argo Marketing Group (#821), and The Clean Bedroom #1346. One of most explosive growth companies is Provider Power, which is ranked #6. Provider Power is a “Competitive Electricity Supply Company” headquartered in Auburn (Source: providerpower.com). In 2014 it grossed $138 Million in revenue and saw 3-year growth of 19,877%! Yes, 19,877%! Companies such as Provider Power are a good example of companies that need – or will need – the skills that MBA graduates can offer.
According to maine.gov, large private employers in the state include HannaFord Bros Co. (7000+), Wal Mart (7000+), Maine Health (7000+), Bath Iron Works Corporation (5500+), and L.L Bean (4500+). From ship building to department stores, mail-order houses and hospitals, each of these companies represents a different industry. All, however, are in need of new employees who bring unique skills and abilities to the workplace. And MBA graduates are no exception to this!
A third way to assess job outlook is by looking at salary levels – and when it comes to salary, the numbers do not lie! Career positions that MBA graduates typically hold in the state of Maine – chief executives, marketing managers, finance managers – pay very well. BLS data indicates that managerial positions often outperform the annual mean wage by at least double – and for Chief Executives even triple. Take a look at the numbers below for job positions that MBA grads usually occupy, and note that the annual mean wage in Maine for all occupations for 2015 is $43,260. There is quite the contrast!
- Chief Executives – $157,560
- General and Operations Managers- $91,250
- Managers, All Other- $95,480
- Financial Managers- $100,900
- Marketing Managers- $99,450