Best Online MBA Programs: No GMAT Required

If you’re applying to online master’s of business administration (MBA) programs, you’ll probably know about the Graduate Management Admission Test (GMAT). A growing number of quality business schools have removed their GMAT requirement altogether or are waiving it for applicants who fulfill other admissions criteria. This is great news for anyone with bad GMAT scores or a lack of time and money to take the test.

Here we rank the top accredited online MBAs with GMAT waiver options or no GMAT requirements at all. We used our economic score metric to find the best-value programs. We found 255 online MBA programs that are accredited by the AACSB or the ACBSP, which are the two main business school accreditation councils. 201 of these programs have enough information about graduate outcomes to generate an economic score.

» Read: Best 1-year MBA programs

What is an MBA with no GMAT?

Some colleges will not consider your GMAT scores at all, while others make submitting them optional. It’s becoming more common for MBA programs to not ask applicants for their GMAT scores, which is why in 2021 there were roughly 40,000 GMAT test takers in the US, compared to 80,000 in 2017.

There are, however, some benefits to submitting a GMAT score if a particular school makes this an option, and you have the time and money to take the test. Submitting a strong GMAT score can:

• Strengthen an application if you have a low GPA.
• Pay off financially, as some colleges, like Florida Southern University, offer financial incentives for applicants who submit their GMAT score (even though it’s optional).

What is a GMAT waiver?

Some colleges that ask you to submit a GMAT score may waive this requirement under certain conditions. These schools will either ask you to submit a GMAT waiver request yourself, or they’ll automatically waive it if you apply to the program with relevant transcripts and supporting documents. The circumstances in which they might waive the GMAT score requirement can include the following:

• You have a GPA of 3.0 or higher.
• You have experience working in business, usually 5 or more years.
• You qualify for a specific waiver condition at certain colleges, such as those offering GMAT waivers to workers who were laid off from their tech jobs.

Online MBA programs: no GMAT vs GMAT waiver

There are very few downsides to enrolling in a program that does not require the GMAT vs one that does. Top programs in both categories boast average graduate outcomes that are very similar.

The very slight differences between earnings, economic scores, debt amounts, and debt-to-earnings ratios make the programs in both rankings almost equally good value for money on average.

» Read: Taking the GMAT vs the GRE for an MBA

What’s the cheapest online MBA?

The graduate debt for the 201 online MBAs we analyzed ranges from $13,235 to $105,828, with an average debt burden of $36,393. The most affordable programs (whose graduates emerge with the least amount of debt) are as follows:

5 cheapest online MBAs: no GMAT (lowest debt)

1. University of the Cumberlands – $13,098
2. Western Governors University – $13,235
3. University of Tulsa – $13,293
4. CUNY Graduate School and University Center – $14,650
5. Northwest Missouri State University – $14,821

5 cheapest online MBAs: GMAT waiver (lowest debt)

1. University of Tulsa – $13,2932.
2. Emporia State University (no. 3. in the ES rankings) – $14,9733.
3. Texas A & M International University – $15,3914.
4. University of Maine – $16,2565.
5. Southeast Missouri State University (no. 7 in the ES rankings) – $17,301

Nevertheless, while a cheap sticker price may be tempting, choosing a college based only on low graduate debt may not be the best choice in the long-term.

» Read: The fastest online MBA programs

Why online MBAs with the least graduate debt aren’t always the best option

When we look at our rankings, the top 20 online MBAs with the lowest debt generally have worse graduate salaries compared to programs with the best economic scores.

While the programs in our economic score rankings are not the cheapest option, they lead to better earnings on average down the road. This increases their investment value.

Graduates aren’t always worse off if they choose one of these more expensive online MBAs with a higher economic score. Plus, the massive $32,479 difference in EarningsPlus shows that the online MBA programs we’ve ranked by economic score are a better investment compared to the programs with the least graduate debt.

Final thoughts

Whether you’re looking for an accredited online MBA with no GMAT requirements, or you qualify for a GMAT waiver, there are plenty of accredited online programs to choose from. It’s worth keeping in mind though that some of these best-value programs don’t always result in less debt, as they lead to higher earnings. Use our rankings – based on each school’s economic score – to help you find the online GMAT-optional MBAs that offer you the best value for your money.