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Should I Pursue a Master's in Entrepreneurship Online?
Entrepreneurship is on the rise in the United States, as up to half of new workers become self-employed freelancers . Entrepreneurship provides a path for innovative, fulfilling work, allowing people to balance their personal and professional lives. An online MBA in entrepreneurship creates rewarding opportunities for problem solvers and innovative thinkers. A master's in social entrepreneurship prepares graduates to develop solutions to critical social problems and tackle challenges with innovation. It also leads to top executive positions in large corporations, including analysts, directors, and chief officers.
An accredited master's in entrepreneurship online is an ideal option for working professionals and students balancing personal commitments with education. An online MBA offers flexibility, and many programs take less time and incur fewer expenses than their on-campus counterparts. Students stay connected to their own communities, using their skills to solve problems where they already live.
Employment Outlook for Master's in Entrepreneurship Graduates
Master's in Entrepreneurship Salary
Earning a master's in entrepreneurship can lead to positions with high earning potential, though factors like location and experience may impact salary. The tables below illustrate the mean wage for marketing specialists in the five highest-paying states, along with the United States overall. Over 500,000 people in the U.S. work as marketing specialists, earning an average salary of $71,450. The highest earners on average work in New Jersey. Salary increases significantly with experience -- for example, business development directors earn $73,801 annually in entry-level positions, but may make more than $125,000 per year later in their careers.
Top Paying States for Market Research Analysts and Marketing Specialists
|State||Employment||Annual Mean Wage|
Source: Bureau of Labor Statistics
Pay by Experience Level for Business Development Directors
Entry-Level (0-5 Years):
Mid-Career (5-10 Years):
Experienced (10-20 Years):
Late-Career (20+ Years):
Master's in Entrepreneurship Careers
Online MBA in entrepreneurship graduates pursue various career paths. Some start their own business, while others go on to become top executives in their fields. Students gain business acumen and problem-solving skills that transfer to several types of careers. They may choose to specialize in fields such technology or social change or pursue a generalist path. Entrepreneurship opportunities best suit collaborative professionals, strategic thinkers, and self-motivated workers.
Market Research Analysts
Annual Median Salary : $63,230
Projected Growth Rate: 23%
Market analysts conduct research to determine which products and services consumers most want to purchase, and use their data to effectively market products. Analysts also help companies position themselves in the market, forecast consumer trends, and develop advertising. These positions require at least a bachelor's degree, but employers prefer MBA graduates for positions with more responsibilities.
Annual Median Salary : $84,300
Projected Growth Rate: 11%
Financial analysts guide decision-making in corporate investments. They analyze corporate strengths and weaknesses and financial trends to determine investment opportunities, and work closely with management and executives to determine the quality of leadership and examine financial data. In making recommendations, analysts consider current and projected political and social trends.
Annual Median Salary : $104,700
Projected Growth Rate: 8%
Top executives lead their organizations, assuming responsibility for directing the future of their company by developing strategic plans and implementing policies. Executives hire directors and manage corporate activities, reviewing financial statements and making decisions on how to reduce costs.
Business Development Directors
Annual Median Salary : $102,768
Projected Growth Rate: N/A
Directors often work directly with executives or the board of directors to develop business strategies. Business development often involves finding innovative marketing and sales strategies. These professionals may also work to streamline operations, address legal issues, oversee information technology, and review financials. This allows them to create integrated development strategies.
Sources: Bureau of Labor Statstics / PayScale
What Can I Expect from an Online Master's in Entrepreneurship Program?
An online MBA in entrepreneurship covers topics in business, finance, technology, and leadership. Specific coursework varies by school and program, and some schools offer specializations, which may increase the number of required courses but provide opportunities to specialize in specific topics. See below a few common courses for master's in entrepreneurship programs.
Curriculum for an Online Master's Degree in Entrepreneurship
This course considers the entrepreneurial mindset in the context of established corporations. Students examine the history and research the practices associated with entrepreneurship, and develop skills they can apply in corporate settings. Graduates can enter Fortune 500 companies to develop innovative programs in a rapidly changing economy.
Venture Concepts and Capital
Venture concepts are at the core of any startup, and this course develops the innovative thinking and disciplined research skills necessary to develop a venture concept. Students explore concept development, testing, and pitching. They learn how venture capital works, and what makes a startup successful. Students must prepare a ready-to-launch concept by the end of the course.
This course prepares students for roles as top executives. Students learn the skills and practices of effective leadership, and how to strategically position a company and make the best use of employee skills. They explore the various responsibilities of executives and learn administrative and management skills.
Entrepreneurs need a basis in accounting and financial concepts. The financial management course develops a working knowledge of corporate finance. Students learn financial theory and how it applies to business decision-making. Coursework typically includes financial problem sets and planning models. Students graduate ready to plan and direct corporate funds and policies.
Students develop an understanding of marketing concepts for developing customer strategies. Coursework covers market analysis, strategic planning, competition and positioning, and market research. Students develop skills to create value for customers and the company, and may complete marketing plans utilizing a variety of framework. They graduate ready to pursue careers in marketing.
Certifications and Licenses a Master's in Entrepreneurship Prepares For
- Certified Financial Planner : CFPs hold a bachelor's degree or higher, having completed coursework in financial plan development. Candidates must pass an exam and hold three years of experience. The certification qualifies professionals to work in financial planning, helping individuals solve financial problems and meet their goals.
- Personal Financial Specialist : To earn the PFS certification, candidates must be licensed certified public accountants, hold 75 hours of education, and have two years of experience in personal financial planning. The American Institute of Certified Public Accountants issues this certificate, and candidates must have membership with the institute.
- Chartered Financial Consultant : The American College of Financial Services offers ChFC certification, which requires 27 credit hours at the college and completion of a proctored exam. This advanced financial planning certification prepares professionals to work with clients with unique needs, such as LGBTQ+ community members and special needs dependents.
- Chartered Financial Analyst : The CFA program focuses on advanced investment analysis and portfolio management. The self-study program requires enrollment; candidates must have four years of experience in financial investments and at least a bachelor's degree, or a combination of education and experience. They must also possess an international passport and pass three exams.
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