Chicago is known for many things: delicious pizza (depending on who you ask), house music and a roaring comedy scene, to name a few. Though often overlooked simply due to its location in “fly-over country,” Chicago is the third most populous city in the U.S., and is home to nearly 40 of the Fortune 500 companies. This makes it an ideal place to pursue a business education. For those of you looking to pursue your MBA amidst the Windy City’s blend of Midwestern charm and big city bustle, we’ve compiled a list of some of the most affordable Chicago MBA programs.
The Most Affordable Chicago MBAs
Kellstadt Graduate School of Business – DePaul University
DePaul University’s Kellstadt Graduate School of Business boasts a prestigious, affordable Chicago MBA program that promises to bridge the gap between education and the business world. At $72,000 for the 18-month program, Kellstadt has one of the more reasonably priced MBAs in Chicago metro. The Kellstadt full-time MBA is geared toward students with two or more years of professional experience. The school’s curriculum requires 12 core credits and six elective courses. The program offers a multitude of study abroad options, including shorter overseas seminars, for those who wish to gain international business experience without committing to an entire semester. Kellstadt’s 12 to one student to faculty ratio assures its MBAs ample access to the school’s esteemed faculty. For those concerned about finding a job after graduation, an impressive 93 percent of Kellstadt alumni were employed within six months of graduating, and 95 percent of graduates thrived in full-time jobs related to their degree.
Liautaud Graduate School of Business – University of Illinois at Chicago
Tuition for University of Illinois’s Liautaud Graduate School of Business amounts to $41,360 for the two year program. The curriculum requires 26 core credits and 28 elective credits. Students have access to Liautaud’s renowned faculty members, who have written articles for publications such as Academy of Management Journal, Econometrica and Journal of Product Innovation Management. MBAs in this program also benefit from a plethora of student-operated organizations that aim to provide members of the learning community with as support as possible. Liautaud’s business school is ranked in the top 25 percent of schools in the US, and graduates have gone on to work at esteemed companies like Walt Disney Company, Wrigley Co. and Pricewaterhouse Coopers LLC. Given these features, Liautaud’s program is a great option for students who prioritize an experienced faculty and a committed, supportive student body who frequently graduate to successful careers.
Lake Forest Graduate School of Management
Lake Forest Graduate School of Management offers flexible programs so that students can tailor their education to their specific needs. The overall tuition comes to $54,400, and students in the Leadership MBA program can choose to get their degree in anywhere from 18 months to six years depending on course load. In addition to allowing students to set their own pace, students graduate with three leadership certificates to improve their value to employers. Leadership MBAs can take courses in the evenings, on weekends and online.
Lake Forest graduates have gone on to become leaders in business, and the school works to foster a relationship between alumni and students, so that younger professionals can benefit from the experience and connections of their more experienced counterparts. The school boasts distinguished alumni such as Rick Surkamer, who acted as President and COO of the Sun Times Media group. Surkamer attributes his success to the connections he made and the educations he received at Lake Forest.
Northern Illinois University College of Business
Northern Illinois University College of Business (NIU) is a great option for students looking to earn a relatively economical MBA in Chicago. The cost for Illinois residents comes to $31,500, and $46,500 for those coming from out of state. It’s a worthwhile investment, considering Payscale.com puts the average mid-career yearly salary for NIU grades at $114,000. NIU offers a 12 month MBA program, wherein students are only required to attend classes on Monday and Thursday evenings. This program is a great pick for professionals who want to include travel in their education. The MBA comes with a nine-day trip overseas. In the past, students have traveled to desirable European locations like Portugal and Spain.