Business Degrees 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.

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.

SchoolCityTuitionAidMedian SATMedian ACTAccept. RateGrad. Rate
Anderson UniversityAnderson$28,650$20,879910-111019-250.66415094339622658%
Ball State UniversityMuncie$9,654$9,921990-117020-240.6225186982009362%
Butler UniversityIndianapolis$38,360$18,9811060-126825-300.72706191543634574%
Indiana Institute of TechnologyFort Wayne$26,370$8,342800-104017-240.69165143205362632%
Indiana State UniversityTerre Haute$8,746$8,521790-102016-220.85884154580668438%
Indiana UniversityBloomington$10,388$9,2051060-129024-300.78716157709403776%
Indiana University EastRichmond$7,073$4,966830-104018-230.60277324632952732%
Indiana University KokomoKokomo$7,073$5,342830-103018-230.69134170522141439%
Indiana University NorthwestGary$7,073$5,799820-101018-230.75798026697620424%
Indiana University South BendSouth Bend$7,073$5,688840-105018-230.77029783761729930%
Indiana University SoutheastNew Albany$7,073$5,263830-104017-230.84014699127239332%
Indiana University-Purdue University Fort WayneFort Wayne$8,213$7,641860-108018-240.93261608154020424%
Ivy Tech Community CollegeIndianapolis$4,175$4,404
Marian University-IndianaIndianapolis$31,500$19,722900-114019-250.59579332418838656%
Oakland City UniversityOakland City$23,400$21,000855-107518-240.33121019108280345%
Purdue UniversityWest Lafayette$10,002$9,9511070-132025-310.55965474319995177%
Purdue University NorthwestHammond$7,478$7,147485-58518-25
Taylor UniversityUpland$31,472$15,771950-125022-290.79605633802816976%
Trine UniversityAngola$30,960$19,948940-120020-270.76712802768166156%
University of EvansvilleEvansville$33,966$22,756990-122023-290.70890156211257169%
University of IndianapolisIndianapolis$27,420$14,825890-112020-260.86166278591973755%
University of Notre DameNotre Dame$49,685$34,5591350-154032-350.18733658036400995%
University of Saint FrancisFort Wayne$28,310$14,921900-109019-240.96724667349027655%
University of Southern IndianaEvansville$7,605$9,949890-108019-250.91893673110720638%
Valparaiso UniversityValparaiso$37,450$23,580990-120023-290.8291020844468266%
Vincennes UniversityVincennes$5,575$10,09128%

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 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.

SchoolCityTuitionAvg. GMATFaculty
with Doct.
Anderson UniversityAnderson$15,660
Ball State UniversityMuncie$22,140550
Butler UniversityIndianapolis$32,30059071%3.96
Indiana State UniversityTerre Haute$17,46153479%0.51
Indiana University – BloomingtonBloomington$55,20262666%4.13
Indiana University KokomoKokomo$9,91740292%2.41
Indiana University NorthwestGary$36,10088%0.94
Indiana University South BendSouth Bend$14,50652089%1.28
Indiana University SoutheastNew Albany$14,31151074%0.05
Indiana University-Purdue University Fort WayneFort Wayne$14,44453079%1.65
Purdue UniversityWest Lafayette$44,83662692%2.54
Purdue University NorthwestHammond$48,00061072%2.98
Trine UniversityAngola$15,965
University of IndianapolisIndianapolis$36,420520
University of Notre DameNotre Dame$96,68065883%4.07
University of Saint FrancisFort Wayne$33,660
University of Southern IndianaEvansville$10,13752875%1.73
Valparaiso UniversityValparaiso$30,00051382%0.3

Job Outlook for Business 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 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 Auditors13-201120,010$32$65,88010.0%
Administrative Services Managers11-30113,450$39$80,31010.1%
Advertising and Promotions Managers11-20110,290$45$94,5905.8%
Architectural and Engineering Managers11-90410,120$31$64,7405.5%
Budget Analysts13-20313,880$55$115,4106.5%
Business Managers of Artists and Athletes13-10110,500$33$69,3204.9%
Business Operations Specialists13-119913,600$29$60,3008.8%
Chief Executives11-10114,950$72$149,6600.08
Compensation Job Analysis Specialists13-11410,260$45$93,3308.5%
Compensation and Benefits Managers11-31110,970$26$53,3405.0%
Compliance Officers13-10413,770$28$58,9708.2%
Computer and IT Systems Managers11-30214,630$54$112,44011.9%
Construction Managers11-90214,750$39$81,71011.4%
Cost Estimators13-10514,510$31$63,62010.6%
Credit Analysts13-20410,800$29$59,4508.4%
Credit Counselors13-20710,230$20$40,96013.9%
Financial Analysts13-20512,530$36$74,53010.8%
Financial Examiners13-20610,410$39$81,4409.8%
Financial Managers11-30317,820$54$113,15018.7%
Human Resources Managers11-312149,210$46$96,6408.9%
Human Resources Specialists13-10712,140$49$102,4707.1%
Insurance Underwriters13-205311,370$26$54,460-5.2%
Labor Relations Specialists13-10751,060$33$67,790-7.8%
Loan Officers13-20722,240$31$63,57011.5%
Management Analysts13-11112,000$32$65,95012.0%
Market Analysts and Marketing Specialists13-116110,940$37$77,37022.8%
Marketing Managers11-20218,440$27$56,21010.0%
Meeting, Convention, and Event Planners13-11212,870$53$109,48010.2%
Operations Managers11-10211,150$23$47,4209.1%
Public Relations Managers11-20310,870$46$94,68010.4%
Purchasing Managers11-30611,480$47$97,5305.6%
Sales Managers11-20225,770$55$115,3807.4%
Tax Examiners and Collectors13-20810,580$24$50,800-0.6%
Tax Preparers13-20822,020$17$34,84010.8%
Training and Development Managers11-31310,750$41$85,37010.3%
Training and Development Specialists13-11515,460$26$54,92011.5%

1. National Center for Education Statistics:
2. AACSB, Best Business Schools:
3. ACBSP, Business Schools:
4. IACBE, Business Schools:
5. US Bureau of Labor Statistics – Occupational Outlook Handbook, Business and Financial Occupations:
6. US Bureau of Labor Statistics – Employment and Wage Estimates Indiana:
7. Indiana State Board of Education:
8. US News & World Report, 2018 Best Business Schools: