[Updated] Drexel Online MBA – Concentration | Cost | Requirements

Drexel LeBow College of Business Online MBA
Credit: Jessica To’oto’o

LeBow College of Business Online MBA

Introduction

  • The Drexel LeBow online MBA program is a highly rated business degree in the world. Financial Times ranks it among the top 20 online Master of Business Administration degrees in the world. It has the accreditation of the Association to Advance Collegiate Schools of Business (AACSB).
  • The online MBA students at Drexel LeBow are offered the same curriculum with the full-time students, but with the flexibility to study and earn their degree wherever they choose and at their own pace.
  • Students of this program often follow a two-year study plan towards early completion of their degree. The program also affords students who would rather take additional in studying for their MBA.
  • The flexibility provided by the program enables students to determine their own period for completion.
  • LeBow’s online MBA also offers a hybrid version where students are allowed to combine the online program with campus classes. It also promotes international residency for its students.
  • These residencies are unique in the sense that it offers the students excellent opportunities to meet fellow students like a campus setting. It, therefore, provides an opportunity to network with one another as well as gaining valuable hands-on business experience.
  • The program presents students with the opportunity to work towards achieving their personal business career goals through course concentrations, a dual degree, and other elective courses.

List of Courses Offered 

The program is divided among core courses and electives. The following list of core courses account for 31 credit hours collectively:

  • Managing & Leading the Total Enterprise – MGMT 530
  • Essentials of Financial Reporting – ACCT 510
  • Leading in Dynamic Environments – ORGB 510
  • Corporate Financial Management – FIN 601
  • Business Problem Solving – MGMT 510
  • Managerial Economics – ECON 601
  • Managing & Leading the Total Enterprise – MGMT 530
  • Introduction to Statistics for Business Analytics – STAT 510
  • Legal Options in Decision Making – BLAW 510
  • Strategy Analysis – MGMT 520
  • ORGB 520    Leading High-Performance Teams
  • Operations and Supply Chain Management – POM 510
  • Marketing Strategy – MKTG 510
  • Career and Professional Development – ORGB 530
  • MBA Capstone – MGMT 770

There are also six electives that you must choose from any focus track. Each of the electives is worth 3 credit hours for a combined total of 18 credit hours.

Duration

  • With a total of 49 credit hours at its core, the program can be completed within 2 to 5 years. However, as many as 89% of the students graduated within 3 years of enrollment. The program target duration is two and a half years. Your progress depends on your own schedule.

Cost Structure 

  • At $1306 per credit hour, this is one of the most expensive online MBA schools we have reviewed on our website.
  • With a total of 49 credit hours, this works out to a price of around $65,000 for the entire duration of the program. The cost is the same for both in-state and out-of-state candidates.
  • College-funded financial aid is provided in many forms. The same privilege is also extended to international students. Such high tuition might be the cause of over 69% of alumni graduating with debt.
  • The average debt stood at an astronomical figure of $57,469. Interestingly, 43% of the students were sponsored by their employees.

Eligibility Requirement

  • Academic background:  The program accepts a bachelor’s degree from a regionally accredited institution with a GPA of 3.0 or above.
  • Work Experience: Although not mandatory, the quality and quantity of work experience are taken into consideration.
  • Language: International candidates must pass the TOEFL exam with a score of 600 on the paper-based or 90 on the internet-based version.

Class Profile and Potential Salary

  • Around 45% of the applicants, in the year 2016-2017, were employed at the time of enrollment.
  • Minority students accounted for 34% of the population.
  • The percentage of international students was only 5%.
  • The average age of new entrants was 34 years.
  • The student gender distribution was 55.8% male while the remaining 44.2% were female.
  • Twenty-one students were either veterans or active service members.

GMAT Requirements and Scores

  • GMAT (or GRE) are required for admission to the program.
  • The GMAT score must not be any older than 5 years old.
  • A minimum of 570 scores is required on GMAT, with no less than 50% in any category. For GRE, a minimum score of 153 is necessary for both verbal and quantitative reasoning.
  • GMAT can be waived for candidates holding a terminal degree.
  • GMAT can also be waived for candidates with at least 3 years of professional work experience in a managerial position.

Application Procedures

  • You can apply for the program through the official website here.
  • Click on the “Apply now” button once you have opened the above page. You will be prompted to enter your name, email address, phone number, and a password among other details. Enter all of these to set up your account.
  • Once your account is created successfully, you may proceed to follow the instructions on your screen. Enter all the required information and attach any documents when asked for.
  • Be sure to enter everything carefully as you may not be allowed to change anything once the application is submitted.

Application Timeline

  • Fall Admission: · Applications can be submitted from the 1st of June.
  • Spring Admission: Applications can be submitted from the 15th of November.
  • Summer Admission: Applications can be submitted from the 1st of May.

Acceptance Rate

  • According to USNews.com, 117 out of the 185 full-time applications got accepted into the program. This means that only 63% of the applications were successful. Following that, around 70% of the accepted candidates went on with their enrollment.

Accreditation

  • LeBow College of Business is among the elite 20 percent of business schools to be accredited by AACSB International-The Association to Advance Collegiate Schools of Business.
  • AACSB provides internationally recognized, specialized accreditation for business and accounting programs at the bachelor’s, masters and doctoral level.
  • The AACSB Accreditation Standards challenge post-secondary educators to pursue excellence and continuous improvement throughout their business programs.

Reviews and Ranking

  • Ranked No. 22 in Best Online MBA Programs by U.S. News & World Report in 2018.

Frequently Asked Questions

Q 1: Can I request a waiver for the GMAT requirements?

Ans: Yes, however, this applies to applicants that hold a terminal degree as well as those with a minimum of three years of work experience.

Q 2: Is there a minimum GMAT score?
Ans: Yes, required minimum GMAT score is 50%.

Q 3: How long does it take to complete this program?

Ans: The program study-plan is two years.

Q 4: Are there any veteran benefits?

Ans: Yes. Veterans students are advised to apply to the Department of VA affairs to confirm their eligibility for veteran benefits.

Q 5: Does the program require any on-site presence?

Ans: Yes. Students are allowed to run the hybrid program. It also encourages international residencies for their students.

Q 6: Does the program admit candidates without work experience?

Ans: No. The program requires professional work experience but with some exceptions.

Q 7: Do I need to write an application essay?

Ans: Yes. This is a prerequisite.

Q 8: Do I need to submit a recommendation letter?

Ans: Yes. It is a requirement for admission.

Contact Information

  • Gerri C. LeBow Hall
  • 3220 Market St.
  • Philadelphia, PA 19104
  • Brian Ellis
  • Director of Admissions
  • Admissions Phone: (215) 895-0285
  • Admissions email: mba@drexel.edu

Other Articles You Might Like 

Over 48,805+ Followers

Get fresh content from MBAGLUE

Over 48,805+ Followers

Get fresh content from MBAGLUE

Online MBA

Free Guide Available!

Inline Feedbacks
View all comments