Best Business Schools in Virginia

In May 2023, approximately 385,000 individuals were employed in Business and Finance related occupations in the state of Virginia. This figure represents a significant proportion of Virginia's workforce, emphasizing the importance of the business and finance sector to the state's economy.

The average annual salary of $108,000 for individuals in Business and Finance occupations in Virginia reflects the high level of expertise and skill required for these positions. It also highlights the competitiveness of the industry, as professionals in this field are well-compensated for their knowledge and experience.

Cost of Studying MBA in Virginia

The MBA tuition fee per credit hour for domestic students varies from $400 to $1,600, whereas for international students, it ranges from $400 to $1,700.

10 Best Business Schools in Virginia

Institution	Location	In-state Tuition Fees	Out-of-state Tuition Fees
University of Virginia	Charlottesville	$75,000 (Total)	$78,000 (Total)
William and Mary	Williamsburg	$31,000 annually	$42,000 annually
Virginia Polytechnic Institute and State University	Blacksburg	$850 per credit hour	$1,700 per credit hour
George Mason University	Washington	$930 per credit hour	$1,540 per credit hour
Old Dominion University	Norfolk	$32,000 (6 semesters)	$68,000 (6 semesters)
Virginia Commonwealth University	Richmond	$750 per credit hour	$14,000 (9-15 credit hours)
James Madison University	Harrisonburg	$550 per credit hour	$1,270 per credit hour
Radford University	Radford	$9,500 annually	$19,000 annually
University of Richmond	Richmond	$1,600 per credit hour	$1,600 per credit hour
Longwood University	Farmville	$430-$460 per credit hour	$440-$1,100 per credit hour

University of Virginia

The University of Virginia, located in Charlottesville, is known for its strong academic programs and commitment to research excellence. With a student-to-faculty ratio of 15:1, students at UVA benefit from small class sizes and personalized attention from their professors. Postgraduate students from UVA are well-prepared for their professional careers, with an average starting salary of $76,000. Financial assistance is also available to students at UVA, with in-state students receiving need-based loans averaging $4,500 per year and out-of-state students receiving an average of $7,000 per year. The Darden School of Business at UVA offers a variety of MBA programs, including Full-time MBA, Part-time MBA, and Executive MBA options.

William and Mary

The College of William and Mary, located in Williamsburg, Virginia, is known for its strong academic programs and commitment to providing a personalized educational experience for its students. With a student-to-faculty ratio of 13:1, students have the opportunity to work closely with their professors and receive individualized attention in their studies. One of the most prestigious scholarship programs at William and Mary is the 1693 Scholars Program, which is highly competitive and offers recipients a range of benefits including coverage of in-state tuition, general fees, and room and board expenses. The Raymond A. Mason School of Business at William and Mary is accredited by AACSB International, a mark of excellence in business education. The school offers a variety of programs to meet the needs of students at different stages of their careers, including Full-Time MBA, Part-Time MBA, Executive MBA, and Online programs.

Virginia Polytechnic Institute and State University

Virginia Tech, a public land-grant university, prides itself on its intimate student-faculty ratio of 13:1. With a relatively high acceptance rate of 57%, this esteemed institution fosters a supportive and inclusive learning atmosphere. The Pamplin College of Business at Virginia Tech is particularly notable, offering a wide range of programs to cater to various career goals and interests. These programs include the Part-time MBA, which allows working professionals to pursue their education while maintaining their careers, the MSBA program for those interested in the field of business analytics, the Online MBA program for individuals seeking flexibility in their studies, and the MBA program with a specialization in Global Business Analytics, which equips students with the skills and knowledge to navigate the complexities of the global business landscape.

George Mason University

George Mason University, a renowned public research institution, offers an extensive selection of 132 master's, doctoral, and professional degree programs, as well as over 100 graduate-level certificates. With an impressive admission rate of 90%, the university provides ample opportunities for students to pursue their academic aspirations. The class of 2022 graduates from George Mason University achieved a median salary of $72,000, reflecting the university's commitment to preparing students for successful careers. Notably, the Donald G. Costello College of Business, distinguished by its prestigious AACSB accreditation, offers MBA programs that empower students to customize their learning experience. From program pace and course format to campus location and curriculum, students have the flexibility to tailor their MBA journey to align with their unique needs and preferences.

Old Dominion University

Old Dominion University prides itself on its impressive student-to-faculty ratio of 16:1. Graduates from this institution can expect a median starting salary of around $43,000. Furthermore, a noteworthy 75% of students at the university receive some form of financial assistance, making education more accessible for many. As for those interested in pursuing an MBA, they must submit their GMAT or GRE scores, as well as a letter of reference from a professor or supervisor. The university welcomes applicants from various academic backgrounds, as long as they hold a bachelor's degree and have maintained satisfactory average and trend grades during their undergraduate studies. The Strome College of Business offers a diverse range of MBA programs, catering to different schedules and preferences. Students can choose from full-time, part-time, online, or on-campus options, with the added benefit of specializing in one of six different areas of concentration.

Virginia Commonwealth University

Virginia Commonwealth University, a public research institution, upholds a student-faculty ratio of 16:1 and an average class size of 30. The average financial aid awarded to full-time undergraduates in need of assistance for the 2022-23 academic year stood at $21,000. By fall 2023, the university has achieved an admission rate of 87.6%. Prospective MBA students must possess a bachelor's degree and at least 18 months of experience, while those applying for the Executive MBA program are encouraged to have 5 or more years of experience. VCU's School of Business offers evening, weekend, and online MBA and Executive MBA programs with concentrations in 10 distinct areas.

James Madison University

James Madison University is a renowned public research institution that prides itself on its student-to-faculty ratio of 17:1 and an average class size of 25 students. The university offers a range of MBA concentrations, including Executive Leadership, Information Security, and Innovation. To be eligible for the MBA program, prospective students must have a minimum of 2 to 5 years of work experience, depending on their chosen concentration, and provide a letter of recommendation. It is worth noting that applicants are not obligated to possess a bachelor's degree in business to apply for this program.

Radford University

Radford University, a public institution, upholds a student-to-faculty ratio of 12:1. The university showcases an 83% acceptance rate for the academic year 2021-2022. The Highlander Distinction Program presents scholarships ranging from $2,500 to $4,000 for Virginia Residents and $7,000 to $10,000 for non-residents. To qualify for the MBA program, candidates must possess a bachelor's degree with a minimum overall GPA of 2.75, in addition to a GMAT score of at least 400 or equivalent GRE scores. The Davis College of Business and Economics provides a variety of programs, including in-person and online options, such as General, Accelerated MBA, and MBA degrees with a focus on business analytics, as well as a Business Analytics Post-Baccalaureate Certificate program.

University of Richmond

The University of Richmond, a prestigious private college focused on liberal arts education, takes pride in its remarkable student-faculty ratio of 8:1 and an average of 16 students in each undergraduate class. Students at this institution are offered a generous need-based aid package, with an average value of around $61,000. In order to be considered for the MBA program, applicants are required to possess a bachelor's degree spanning four years and a minimum of two years of work experience. Over the past few years, the incoming students have maintained an average GPA of 3.1. The Robins School of Business, which holds full accreditation from AACSB, offers both part-time and executive MBA programs to cater to the diverse needs of its students.

Longwood University

Longwood University, the third oldest public university in Virginia, boasts an intimate learning environment with an average class size of 18 students and a student-to-faculty ratio of 13:1. With an acceptance rate of 88%, the university is committed to providing financial assistance to its students, offering an average of $15,700 per year in the form of loans and work-study opportunities. For those aspiring to pursue an MBA program, a bachelor's degree with a minimum GPA of 2.75 and GMAT/GRE scores are prerequisites. Within the esteemed College of Business and Economics, students have the opportunity to specialize in General Business, Data Analytics, Economics, Marketing, and Real Estate through their Online MBA programs.