Business Schools in Maine

The largest state in New England but the 12th smallest in the US as a whole, Maine is famous for the eight-legged delicacy but also for its vast natural beauty: rocky shorelines, soaring forests, roaring rivers, and the northern end of the Appalachian mountain chain (and the Appalachian Trail). It is also home to Acadia National Park, the only national park in the country’s northeastern part. Its largest city, Portland, has become a trendy town for professionals looking to escape the big city of Boston but not go too far away; it frequently appears on lists of the “Best Places to Live in the US.”

Statistics from the National Center for Educational Statistics (NCES) show only 13 public and non-profit schools that grant undergraduate and graduate business degrees in the state. Eliminating schools without accreditation reduces these numbers further: there are seven accredited undergraduate schools and only three at the graduate level. Despite leaving fewer options, accreditation is important to look for when searching for colleges. It ensures that the school you select defines its programs’ objectives and has proven that it produces quality outcomes while adhering to national and international standards. Accredited schools also typically offer a richer educational experience via interaction with real-world businesses.

The Association has accredited all the schools in this article 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 New England Association of Schools and Colleges (NEASC).

This article contains the essential data you need to help you choose the business school in Maine that best suits your unique needs based on various key factors, including tuition costs, financial aid availability, entrance exam scores, acceptance rates, and more. The three sections that follow describe undergraduate programs, graduate schools, and the job prospects for business schools in the Pine Tree State.

Undergraduate Business Schools in Maine

Maine’s undergraduate business programs have one of the lowest average costs in the entire country. Our seven schools have average tuition of only $12,300, which is very low, and this number includes the $35,600 tuition at the University of New England. Exclude that school, and the average is just $8,400, making Maine one of the best budget options. The least expensive school is Northern Maine Community College, at only $3,500. The average financial aid for all seven schools is about $8,100.

We have acceptance rate data for 5 of our schools, and the numbers are very favorable for students. The average of 83% is one of the best around, and none of the schools we have figures were below 80%.

Graduation rates for undergraduate business degrees in Maine, however, are on the low side. We have numbers for the same five schools here, which have an overall average of only 47%. The best rate, 59%, can be found at the University of Maine at Orono and the University of New England. The University of Maine at Fort Kent has the lowest rate: just 27%. The best combination of acceptance rate and the graduation rate is at the University of Maine at Orono, with an acceptance rate of 90% and a graduation rate of 59%.

The table below shows you all the essential data you need about undergraduate business schools in Maine, 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
Husson University	Bangor	$17,035	$8,001	860-1070	17-23	80%	54%
Kennebec Valley Community College	Fairfield	$3,790	$4,526
Northern Maine Community College	Presque Isle	$3,464	$4,971
University of Maine	Orono	$10,628	$9,124	950-1190	21-26	90%	59%
University of Maine at Fort Kent	Fort Kent	$7,575	$5,150	790-985	16-22	81%	27%
University of New England	Biddeford	$35,630	$17,870	940-1150	21-26	83%	59%
University of Southern Maine	Portland	$7,796	$6,939	870-1090	19-25	80%	34%

Graduate Business Schools in Maine

Only a small number of schools offer graduate business programs in Maine. The University of Maine at Orono and the University of Southern Maine offer programs at a tuition cost of about $27,000. Their average GMAT scores on admitted students were in the moderate range at 523 and 587, respectively. The third school, the University of New England, is a less expensive option at around $18,000.

There are two accredited online MBA programs in Maine that may be worth considering if you want to advance your education and career simultaneously. The University of Maine offers an online MBA program that can be taken entirely online or as a mix of online and in-person courses. It is based on the same curriculum as its Essential MBA program. St. Joseph’s College of Maine is the other school with an online MBA, oriented explicitly toward leadership and includes 42 credits arranged into four tracks.

The table below shows graduate business school tuition costs, average accepted applicant GMAT scores, percentage of faculty with a doctorate, and student-to-faculty ratios. Click any column header to sort the table based on its contents.

School	City	Tuition	Avg. GMAT	Faculty with Doct. Degree	Student/ Faculty
University of Maine	Orono	$27,650	523		0.86
University of New England	Biddeford	$18,440
University of Southern Maine	Portland	$26,785	587	72%	0.46

Job Outlook for Business School Graduates in Maine

Bureau of Labor Statistics (BLS) data predicts total growth of at least 5% in 32 of 37 business and management occupations across the US between 2016 and 2026. The highest growth will be for market analysts and marketing specialists, at 22.8% over ten years, with financial managers coming in second at 18.7%.

Maine’s economy has generally been more robust than that of the nation as a whole over the last decade or so. Its unemployment rate currently sits at a very low 2.9%, well below the US average of 4% at writing. About 43,000 people were employed in the business and management sector in Maine in 2016. The largest subgroup was general and operations managers at 12,950, well ahead of accountants and auditors at 4,150.

Other popular articles: Accounting Schools in Maine | Online MBA in Maine

According to BLS data, Maine ranked in the middle of the pack at 33rd among the 50 states and the District of Columbia for overall average annual wage across all occupations in 2016: It came in with a value of $53,079, just below the national average of $57,617. Business and management occupations had a weighted average annual salary of around $86,000 that year, which is lower than national averages. Still, Maine has a relatively low cost of living. As in most states, chief executives were the highest-paid category at nearly $149,000. Most management positions fell between $80,000 and $130,000. The lowest-paid category as tax preparers at $42,050.

Occupation Title	BLS.gov Code	2016 Total Employment Maine	Mean Hourly Wage Maine	Mean Annual Wage Maine	National Growth 2016-26
Accountants and Auditors	13-2011	4,150	$33	$67,980	8.0%
Administrative Services Managers	11-3011	1,460	$37	$77,610	9.1%
Advertising and Promotions Managers	11-2011	100	$49	$101,450	5.8%
Architectural and Engineering Managers	11-9041	660	$61	$127,180	7.4%
Budget Analysts	13-2031	150	$32	$66,720	10.4%
Business Operations Specialists	13-1199	3,680	$32	$65,540	10.1%
Chief Executives	11-1011	890	$72	$148,930	11.9%
Compensation and Benefits Managers	11-3111	40	$52	$108,650	0.187
Compensation, and Benefits Specialists	13-1141	350	$29	$59,850	5.6%
Compliance Officers	13-1041	1,020	$31	$64,940	5.0%
Construction Managers	11-9021	1,190	$42	$86,970	8.9%
Cost Estimators	13-1051	800	$30	$63,030	10.3%
Credit Analysts	13-2041	160	$34	$71,550	11.4%
Credit Counselors	13-2071	210	$20	$42,070	5.5%
Financial Analysts	13-2051	460	$37	$76,380	4.9%
Financial Examiners	13-2061	180	$33	$67,750	8.2%
Financial Managers	11-3031	2,640	$55	$113,770	10.6%
General and Operations Managers	11-1021	12,590	$47	$97,120	7.1%
Human Resources Managers	11-3121	510	$49	$102,490	-7.8%
Human Resources Specialists	13-1071	1,650	$29	$59,530	6.9%
Information Systems Managers	11-3021	1,310	$56	$116,120	12.0%
Insurance Underwriters	13-2053	370	$32	$66,860	10.2%
Labor Relations Specialists	13-1075	240	$39	$81,510	8.5%
Loan Officers	13-2072	1,120	$34	$71,500	11.5%
Logisticians	13-1081	310	$33	$68,890	22.8%
Management Analysts	13-1111	1,130	$33	$68,120	8.8%
Market Analysts and Marketing Specialists	13-1161	750	$33	$69,120	10.0%
Marketing Managers	11-2021	930	$48	$98,970	6.5%
Meeting and Event Planners	13-1121	240	$24	$49,710	8.4%
Public Relations and Fundraising Managers	11-2031	470	$42	$88,380	10.8%
Purchasing Managers	11-3061	280	$48	$100,320	-5.2%
Sales Managers	11-2022	1,010	$60	$124,610	9.8%
Tax Examiners and Revenue Agents	13-2081	270	$26	$53,960	13.9%
Tax Preparers	13-2082	360	$20	$42,050	11.5%
Training and Development Managers	11-3131	110	$47	$97,400	-0.6%
Training and Development Specialists	13-1151	990	$26	$54,460	10.8%

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References:
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://acbsp.org/page/accreditation-overview
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 Maine: https://www.bls.gov/oes/current/oes_me.htm
7. US News & World Report, Best Business Schools: https://www.usnews.com/best-graduate-schools/top-business-schools