Business Schools in Indiana
Indiana’s state motto, “The Crossroads of America,” tells you a lot about the diversity you can expect to find here. Straddling the Great Lakes and Midwest regions of the United States, Indiana has big cities, small towns, and rural regions. Its northwest corner is close enough to Chicago to be sometimes considered an extension of that metropolis, while the southeast corner has more of a feel of the American Appalachian region or even a bit of the South. Despite its relatively small size, Indiana is one of only 13 states to have more than one time zone.
Diversity is also the name of the game when it comes to business schools in Indiana. The state possesses a range of options, from famous names to budget options and plenty in between. National Center for Educational Statistics (NCES) statistics show 43 public and non-profit schools offering business degrees. Of these, 26 offer accredited programs at the undergraduate level and 18 at the graduate level. You always want to look for an accredited school, because this is your assurance that the program you select has clearly stated objectives and the school has proven that its program produces quality outcomes while adhering to national and international standards. Schools with accreditation are also more likely to offer ways to get real-world experience through interaction with actual businesses.
All of the schools in this article have been accredited by the Association to Advance Collegiate Schools of Business (AACSB), Accreditation Council for Business Schools and Programs (ACBSP), and/or International Accreditation Council for Business Education (IACBE). They are all public or non-profit and regionally accredited by the Higher Learning Commission (HLC).
This article will provide you with essential data to help you choose the Indiana business school that best suits your unique needs based on a variety of key factors: tuition, financial aid, entrance exam scores, acceptance rates, and more. The three sections that follow describe undergraduate programs, graduate schools, and the job prospects for business school graduates in Indiana.
Best Business Schools in Indiana
Best business schools in Indiana according to US News data.
- Indiana University – Bloomington – #27 in Best Business Schools, #17 in Best Graduate Management Programs, #10 in Best Undergraduate Business School Programs, #89 in Top National Universities, #53 in Best Colleges for Veterans, #38 in Top Public Schools
- University of Notre Dame – #31 in Best Business Schools, #20 in Best Executive MBA, 10 in Best Undergraduate Business Schools, #18 in Top National Universities, #27 in Most Innovative Schools
- Purdue University – West Lafayette – #53 in Best Business Schools, #47 in Top Part-time MBA Programs, #75 in Top Public Schools, #87 in Best Undergraduate Business Programs, #102 in Best Colleges for Veterans, #61 in Best Online MBA Programs, #48 in Best Online Graduate Business Programs
- Ball State University – #91 in Top Public Schools, #147 in Best Undergraduate Busines Schools, #171 in Top National Universities, #16 in Best Online MBA Programs
Undergraduate Business Schools in Indiana
As mentioned earlier, Indiana offers a number of options for business education, and this is reflected in a wide distribution of tuition cost: from $49,685 at the famous University of Notre Dame, down to as little as $4,175 at Ivy Tech Community College, which is one of the most affordable options of any state in the US. The overall average tuition is just over $19,000, though this is shifted slightly to the low side by the presence of several Indiana University campuses at just over $7,000 each. Interestingly, 14 of the 26 schools are around $10,000 or less, while the other 12 are all over $23,000. Average financial aid across the state comes in at a pretty high percentage of the tuition cost at $13,000, and some of the more expensive schools are similarly generous: Notre Dame, for example, offers maximum aid of almost $35,000.
We have acceptance rates for 23 of our 26 schools. Of those, 20 have acceptance rates of 60% or higher, making for a favorable overall average acceptance rate of 72%. The highest rate, 97%, is at the University of Saint Francis. The lowest rate, by a wide margin, is Notre Dame’s 19%; the other two schools below 60% are Oakland City University at 33% and Purdue University at 56%.
Graduation rates for undergraduate business degrees in Indiana tend to be on the low to moderate side. Of the 24 schools for which we have data here, 13 are over 50% and 11 are under that figure; the overall average is 51%. The Indiana University campuses tend to have the lowest graduation rates in general, with Indiana University Northwest and Indiana University-Purdue University Fort Wayne tied for the lowest at 24%. On the other side of the scale we find the University of Notre Dame at 95%. Taylor University took the top spot for the combination of acceptance rate and graduate rate, with 80% and 76% respectively.
The table below shows you all the important data you need about undergraduate business schools in Indiana, including annual in-state tuition costs, average aid per student, acceptance rates, SAT and ACT score ranges of accepted students, and graduation rates. Click any column header to sort the table based on its contents.
|School||City||Tuition||Aid||Median SAT||Median ACT||Accept. Rate||Grad. Rate|
|Ball State University||Muncie||$9,654||$9,921||990-1170||20-24||62%||62%|
|Indiana Institute of Technology||Fort Wayne||$26,370||$8,342||800-1040||17-24||69%||32%|
|Indiana State University||Terre Haute||$8,746||$8,521||790-1020||16-22||85%||38%|
|Indiana University East||Richmond||$7,073||$4,966||830-1040||18-23||60%||32%|
|Indiana University Kokomo||Kokomo||$7,073||$5,342||830-1030||18-23||69%||39%|
|Indiana University Northwest||Gary||$7,073||$5,799||820-1010||18-23||75%||24%|
|Indiana University South Bend||South Bend||$7,073||$5,688||840-1050||18-23||77%||30%|
|Indiana University Southeast||New Albany||$7,073||$5,263||830-1040||17-23||84%||32%|
|Indiana University-Purdue University Fort Wayne||Fort Wayne||$8,213||$7,641||860-1080||18-24||93%||24%|
|Ivy Tech Community College||Indianapolis||$4,175||$4,404|
|Oakland City University||Oakland City||$23,400||$21,000||855-1075||18-24||33%||45%|
|Purdue University||West Lafayette||$10,002||$9,951||1070-1320||25-31||55%||77%|
|Purdue University Northwest||Hammond||$7,478||$7,147||485-585||18-25|
|University of Evansville||Evansville||$33,966||$22,756||990-1220||23-29||70%||69%|
|University of Indianapolis||Indianapolis||$27,420||$14,825||890-1120||20-26||86%||55%|
|University of Notre Dame||Notre Dame||$49,685||$34,559||1350-1540||32-35||18%||95%|
|University of Saint Francis||Fort Wayne||$28,310||$14,921||900-1090||19-24||96%||55%|
|University of Southern Indiana||Evansville||$7,605||$9,949||890-1080||19-25||91%||38%|
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Graduate Business Schools in Indiana
We have data on 18 accredited schools for graduate business study in Indiana. MBA tuition in Indiana tends to be on the budget-friendly end of the scale, with an overall average tuition of around $30,000, and 14 of the 18 programs below $37,000. The least expensive option is Indiana University Kokomo, at just a hair below $10,000, while the priciest, by a wide margin, is the University of Notre Dame, tipping the scales at around $97,000.
We have average admission GMAT scores for 14 of our schools. Twelve of these fall in a tight band of 510 through 626. The outlier on the low end is 402 at the Indiana University Kokomo; the one on the high end is Notre Dame at 658. We have data on the percentage of full-time faculty with doctorate degrees for 13 schools, which range from 66% at Indiana University Bloomington to 92% at both Purdue University and Indiana University Kokomo.
There are several options for online MBA programs in Indiana for those who want to further their educations while continuing their careers. One of the best is offered by the Miller College of Business at Ball State University, which is nearly identical to its in-person MBA program. Indiana University South Bend similarly offers online and class-based MBAs with the same teachers and curriculum. Indiana University Bloomington’s Kelley School of Business also offers a well-regarded online program, as do several other schools. As mentioned above, most online programs offer the same basic curriculum and courses as their offline equivalents.
The table that follows shows graduate business school tuition costs, average accepted applicant GMAT scores, percentage of faculty with a doctorate degree, and student-to-faculty ratios. Click any column header to sort the table based on its contents.
|Ball State University||Muncie||$22,140||550|
|Indiana State University||Terre Haute||$17,461||534||79%||0.51|
|Indiana University – Bloomington||Bloomington||$55,202||626||66%||4.13|
|Indiana University Kokomo||Kokomo||$9,917||402||92%||2.41|
|Indiana University Northwest||Gary||$36,100||88%||0.94|
|Indiana University South Bend||South Bend||$14,506||520||89%||1.28|
|Indiana University Southeast||New Albany||$14,311||510||74%||0.05|
|Indiana University-Purdue University Fort Wayne||Fort Wayne||$14,444||530||79%||1.65|
|Purdue University||West Lafayette||$44,836||626||92%||2.54|
|Purdue University Northwest||Hammond||$48,000||610||72%||2.98|
|University of Indianapolis||Indianapolis||$36,420||520|
|University of Notre Dame||Notre Dame||$96,680||658||83%||4.07|
|University of Saint Francis||Fort Wayne||$33,660|
|University of Southern Indiana||Evansville||$10,137||528||75%||1.73|
Job Outlook for Business School Graduates in Indiana
Total growth of at least 5% is predicted in 32 out of 37 business and management occupations across the US between 2016 and 2026, according to recent Bureau of Labor Statistics (BLS) data. The highest growth will be for market analysts and marketing specialists, at 22.8% over ten years, with financial managers next at 18.7%.
Indiana’s economy has been one of the extremes over the last couple of decades. The state unemployment rate peaked as high as 11% during the Great Recession, well above the high point for the nation as a whole but has steadily declined to a very low current rate of 3.2%, which is below the national average. About 190,000 people were employed in the business and management sector in Indiana in 2016. The largest subgroup by a wide margin was general and operations managers at 49,200 employed, followed well back by accountants and auditors (20,000) and business operations specialists (13,600). All other categories were near or below 10,000.
According to BLS data, the overall average annual wage in 2016 across all occupations in Indiana was $52,314, ranking the state 36th out of 51 (including the District of Columbia). Business and management occupations had a weighted average annual salary of around $82,000 in that year, which is also lower than in most states. Chief executives were the highest-paid subgroup like they are across the US, but the number was lower here as with other numbers in this state: “only” $150,000 compared to over $200,000 in several other locations. Most management categories ranged from $80,000 to $115,000, again lower than in many other states. Tax preparers were the lowest-paid group at $34,840.
|Accountants and Auditors||13-2011||20,010||$32||$65,880||10.0%|
|Administrative Services Managers||11-3011||3,450||$39||$80,310||10.1%|
|Advertising and Promotions Managers||11-2011||0,290||$45||$94,590||5.8%|
|Architectural and Engineering Managers||11-9041||0,120||$31||$64,740||5.5%|
|Business Managers of Artists and Athletes||13-1011||0,500||$33||$69,320||4.9%|
|Business Operations Specialists||13-1199||13,600||$29||$60,300||8.8%|
|Compensation Job Analysis Specialists||13-1141||0,260||$45||$93,330||8.5%|
|Compensation and Benefits Managers||11-3111||0,970||$26||$53,340||5.0%|
|Computer and IT Systems Managers||11-3021||4,630||$54||$112,440||11.9%|
|Human Resources Managers||11-3121||49,210||$46||$96,640||8.9%|
|Human Resources Specialists||13-1071||2,140||$49||$102,470||7.1%|
|Labor Relations Specialists||13-1075||1,060||$33||$67,790||-7.8%|
|Market Analysts and Marketing Specialists||13-1161||10,940||$37||$77,370||22.8%|
|Meeting, Convention, and Event Planners||13-1121||2,870||$53||$109,480||10.2%|
|Public Relations Managers||11-2031||0,870||$46||$94,680||10.4%|
|Tax Examiners and Collectors||13-2081||0,580||$24||$50,800||-0.6%|
|Training and Development Managers||11-3131||0,750||$41||$85,370||10.3%|
|Training and Development Specialists||13-1151||5,460||$26||$54,920||11.5%|
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1. National Center for Education Statistics:https://nces.ed.gov/
2. AACSB, Best Business Schools:https://bestbizschools.aacsb.edu/aacsb-accredited
3. ACBSP, Business Schools:https://www.acbsp.org/page/accreditation
4. IACBE, Business Schools:https://iacbe.org/accreditation/
5. US Bureau of Labor Statistics – Occupational Outlook Handbook, Business and Financial Occupations: https://www.bls.gov/ooh/business-and-financial/home.htm
6. US Bureau of Labor Statistics – Employment and Wage Estimates Indiana: https://www.bls.gov/oes/current/oes_in.htm
7. Indiana State Board of Education: https://www.doe.in.gov/
8. US News & World Report, 2018 Best Business Schools: https://www.usnews.com/best-graduate-schools/top-business-schools