Business Degree Schools in Minnesota

Welcome to our guide on business school options in Minnesota. To compile our list of accredited business schools in Minnesota, we first looked at the National Center for Educational Statistics (NCES) data. According to the NCES, there are at least 10 undergraduate business schools and seven graduate business schools in Minnesota that are business accredited, and all of the schools in our database are also regionally accredited by the Higher Learning Commission (HLC).

All the schools on our list are all non-profit or public and have accreditation by at least one of the following: the Association to Advance Collegiate Schools of Business (AACSB), the Accreditation Council for Business Schools and Programs (ACBSP), or the International Accreditation Council for Business Education (IACBE).

Below you will find information on our list of business degrees, including a variety of sortable criteria that will help narrow down your ideal institution. The tables include data on tuition (before aid), average financial aid per student, admission exam median scores, and acceptance and graduation rates.

Trusted MBA Data Sources

Best Business Schools in Minnesota – Fast Facts

Best business schools in Minnesota according to US News data.

  • University of Minnesota-Twin Cities – #29 in Best Business Schools, #9 in Best Part-time MBA, #76 in Top National Universities, #42 in Best Colleges of Veterans, #30 in Top Public Schools, #18 in Best Undergraduate Business School Programs, #23 in Best Management Bachelor Programs
  • Minnesota State University-Mankato – #125 in Best Part-time MBA Programs, #32 in Top Public Schools, #274 in Best Undergraduate Business School Programs
  • Minnesota State University-Moorhead – #101 in Top Regional Universities Midwest, #26 in Top Public Schools, #312 in Best Undergraduate Business School Programs, #156 in Best Online MBA Programs
  • University of St. Thomas – #133 in Best Part-time MBA Programs, #83 in Best Colleges for Veterans, #124 in Top National Universities

Undergraduate Business Schools in Minnesota

The average program cost of an undergraduate business degree in Minnesota is $19,621, and six schools offer undergraduate degrees that are more affordable than this average. The most affordable options for business degrees in Minnesota on our list are Minnesota State University – Mankato, which has tuition of $7,858 and average offered financial aid of $5,075, and St. Cloud State University, with tuition and average financial aid figures of $7,910 and $5,204 respectively.

Acceptance rates are generally high at most Minnesota undergraduate business schools, with all schools having acceptance rates over 50%, and five schools having over 70% acceptance. St. Cloud State University has the highest acceptance rate, at 85%, while the Southwest Minnesota State University has the lowest acceptance rate at just 54%.

For graduation rates, University of St. Thomas-Minnesota leads the pack with a 76% graduation rate, followed by Bethel University also at 76%. The lowest graduation rate, 41%, is at Minnesota State University Moorhead. The overall average acceptance rate for the state is 70%.

Below you will find a table showing essential data, including in-state tuition costs, average financial aid received per student, college acceptance rates, median SAT and ACT scores, and graduation rates. You can click on the column headers to sort the table.

SchoolCityTuitionAidMedian SATMedian ACTAccept. RateGrad. Rate
Bemidji State UniversityBemidji$8,394$5,28820-2464%44%
Bethel UniversitySt. Paul$35,160$17,126990-126321-2882%76%
Hamline UniversitySt. Paul$39,181$22,435960-123021-2770%59%
Minnesota State University – MankatoMankato$7,858$5,075886-110620-2462%51%
Minnesota State University MoorheadMoorhead$8,114$4,511910-112020-2560%41%
Saint Mary’s University of MinnesotaWinona$32,575$16,657900-111020-2679%61%
Southwest Minnesota State UniversityMarshall$8,347$4,903765-107518-2354%50%
St. Cloud State UniversitySaint Cloud$7,910$5,204930-117018-2485%44%
University of St. Thomas-MinnesotaSt. Paul$39,594$18,4901050-129024-2983%76%
Winona State UniversityWinona$9,075$4,819790-107020-2560%59%

Community Colleges in Minnesota

Inver Hills Community CollegeInver Grove Heights$5,285$3,398
Normandale Community CollegeBloomington$5,730$3,863
North Hennepin Community CollegeBrooklyn Park$4,367$3,397
Riverland Community CollegeAustin$5,507$3,588
Saint Paul CollegeSt. Paul$5,458$3,868

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Graduate Business Schools in Minnesota

To complement their baccalaureate studies, many students choose to obtain graduate-level business degrees (usually MBAs) and the state of Minnesota currently has seven schools offering accredited graduate business degrees. The average cost of a graduate business degree in Minnesota is $37,610, but there’s a wide range of affordability: Minnesota State University Moorhead MBA costs just $14,564, while a graduate degree in business from University of Minnesota will set you back $74,968.

We have collected average GMAT scores for those admitted from five graduate business schools. Of those institutions that provided data, the scores range from 509 at the University of Minnesota, Duluth to 654 at the University of Minnesota, with an average admittance GMAT score for all schools of 551.

Many students prefer to keep working while studying at their own pace, and there are many excellent online MBA programs in Minnesota that are designed for such students. Most of these online MBA programs offer the same or very similar curricula and courses as their offline equivalents.

The table below contains graduate business school tuition costs, average accepted applicant GMAT scores, the percentage of faculty with a doctorate, and the student-to-faculty ratios.

SchoolCityTuitionAvg. GMATFaculty
with Doct.
Bethel UniversitySt. Paul$30,366
Minnesota State University MankatoMankato$24,0485598%0.62
Minnesota State University MoorheadMoorhead$14,564
St. Cloud State UniversitySaint Cloud$21,81251471%0.72
University of MinnesotaMinneapolis$74,96865481%3.08
University of Minnesota, DuluthDuluth$30,11250984%
University of St. Thomas-MinnesotaSt. Paul$67,40052586%0.69

Job Outlook for Business School Graduates in Minnesota

Bureau of Labor Statistics (BLS) data shows an overall average annual wage in 2016 across all occupations in Minnesota of $57,343, which places the state 12th in the US.6 Business and management occupations, however, had a weighted average annual salary of around $94,798 in that year, yielding one of the largest differentials of any state between overall average wages and those in the business sector.6 Chief executives were the highest-paid subgroup at $191,160.6 Credit Counselors preparers were the lowest-paid subgroup at $49,650.6

Slightly more than 259,000 people were employed in the business and management sector in Minnesota in 2016.6 General and operations managers made up the largest subgroup by a hefty margin, with just over 45,400 employed; business operations specialists and accountants and auditors were nearly tied for second place at 23,970 and 33,220 respectively.6

Accountants and Auditors13-201123,970$34$71,4208.0%
Administrative Services Managers11-30116,710$45$93,1509.1%
Advertising and Promotions Managers11-2011540$66$136,8405.8%
Agents and Managers of Artists and Athletes13-1011**$41$85,91010.0%
Architectural and Engineering Managers11-90414,340$68$142,2207.4%
Budget Analysts13-2031440$36$75,01010.4%
Business Operations Specialists13-119923,220$34$69,87010.1%
Chief Executives11-10116,240$92$191,16011.9%
Compensation and Benefits Managers11-3111500$69$144,3500.187
Compensation, and Benefits Specialists13-11411,680$36$75,3505.6%
Compliance Officers13-10414,570$36$74,9705.0%
Construction Managers11-90214,710$45$93,2908.9%
Cost Estimators13-10514,080$32$65,65010.3%
Credit Analysts13-20413,060$39$82,06011.4%
Credit Counselors13-2071890$24$49,6505.5%
Financial Analysts13-20516,080$44$91,4204.9%
Financial Examiners13-20611,460$43$89,0408.2%
Financial Managers11-303114,680$64$133,98010.6%
General and Operations Managers11-102145,400$53$109,4907.1%
Human Resources Managers11-31214,380$58$121,530-7.8%
Human Resources Specialists13-107112,380$31$64,1406.9%
Information Systems Managers11-30219,550$68$140,92012.0%
Insurance Underwriters13-20531,580$32$66,93010.2%
Labor Relations Specialists13-10752,470$33$69,1708.5%
Loan Officers13-20728,130$38$78,04011.5%
Management Analysts13-111113,680$40$83,5608.8%
Market Analysts and Marketing Specialists13-116114,630$34$70,94010.0%
Marketing Managers11-20218,090$67$140,3506.5%
Meeting and Event Planners13-11212,070$26$54,5008.4%
Public Relations and Fundraising Managers11-20311,850$58$121,01010.8%
Purchasing Managers11-30612,050$56$116,310-5.2%
Sales Managers11-202211,950$66$136,9309.8%
Tax Examiners and Revenue Agents13-20811,150$31$63,73013.9%
Tax Preparers13-20821,000$25$52,78011.5%
Training and Development Managers11-31311,070$54$113,080-0.6%
Training and Development Specialists13-11516,310$31$64,49010.8%

Other Popular State Pages

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 Minnesota:
7. US News & World Report, 2018 Best Business Schools: