What Is a Master's in Entrepreneurship Degree?
A master's in entrepreneurship degree allows graduates to become proficient in starting their own business or choosing a career in marketing or management. This is a growing field with a wide array of career options after graduation. Entrepreneurship programs are often designed to accommodate students' work day schedules.
Common courses taken during a master's in entrepreneurship degree include financial and marketing management as well as courses to help prepare the student to launch a business. The time required to complete such a degree is usually between one and two years. Students often are attracted to this degree by the promise of high salary jobs and high job satisfaction.
The Best Masters Degree Programs in Entrepreneurship
| School | Tuition* | Acceptance Rate | Graduation Rate | Financial Aid % | Placement Services | Career Services | Accepts | |
|---|---|---|---|---|---|---|---|---|
| 1 | University of Pennsylvania | $40182 | 8% | 96% | 59% | Yes | Yes | AP Credits |
| 2 | University of Florida | $12737 | 37% | 88% | 92% | Yes | Yes | AP Credits |
| 3 | University of Washington-Seattle Campus | $19293 | 52% | 84% | 57% | Yes | Yes | AP Credits |
| 4 | Texas A & M University-College Station | $10173 | 58% | 82% | 76% | Yes | Yes | AP Credits |
| 5 | CUNY Bernard M Baruch College | $11450 | 43% | 70% | 77% | Yes | Yes | AP Credits |
| 6 | Duke University | $56888 | 8% | 95% | 63% | Yes | Yes | AP Credits |
| 7 | The University of Texas at Dallas | $13874 | 79% | 70% | 78% | Yes | Yes | AP Credits |
| 8 | Oklahoma State University-Main Campus | $8460 | 70% | 65% | 90% | Yes | Yes | AP / NCCRS Credits |
| 9 | University of Delaware | $34956 | 71% | 81% | 88% | Yes | Yes | AP Credits |
| 10 | Southern Methodist University | $47256 | 47% | 81% | 82% | Yes | Yes | AP Credits |
| 11 | University of North Carolina at Charlotte | $7430 | 65% | 64% | 74% | Yes | Yes | AP Credits |
| 12 | University of South Florida-Main Campus | $10428 | 48% | 75% | 93% | Yes | Yes | AP Credits |
| 13 | SUNY at Purchase College | $13193 | 52% | 61% | 84% | Yes | Yes | AP Credits |
| 14 | University of Massachusetts-Lowell | $15160 | 73% | 66% | 90% | Yes | Yes | AP Credits |
| 15 | Temple University | $17846 | 60% | 74% | 90% | Yes | Yes | AP Credits |
| 16 | The University of Tampa | $11546 | 45% | 58% | 97% | Yes | Yes | AP Credits |
| 17 | Rensselaer Polytechnic Institute | $56708 | 47% | 85% | 84% | Yes | Yes | AP Credits |
| 18 | University of San Francisco | $25810 | 64% | 75% | 91% | Yes | Yes | AP / NCCRS Credits |
| 19 | Peru State College | $8898 | No Available Data (2019-2020) | 34% | 97% | Yes | Yes | AP / NCCRS Credits |
| 20 | Lehigh University | $27130 | 32% | 90% | 69% | Yes | Yes | AP Credits |
| 21 | Everglades University | $20000 | 75% | 52% | 85% | Yes | Yes | AP Credits |
| 22 | Mount Saint Mary's University | $12134 | 90% | 65% | 100% | No | Yes | AP Credits |
| 23 | University of Southern California | $47107 | 11% | 92% | 69% | Yes | Yes | AP Credits |
| 24 | Central Michigan University | $17150 | 70% | 61% | 96% | Yes | Yes | AP / NCCRS Credits |
| 25 | California Lutheran University | $19556 | 71% | 68% | 98% | Yes | Yes | AP Credits |
| 26 | Goldey-Beacom College | $20106 | 57% | 58% | 100% | No | Yes | AP / ACE / NCCRS Credits |
| 27 | Eastern Michigan University | $19012 | 74% | 46% | 96% | Yes | Yes | AP Credits |
| 28 | Northeastern University | $25085 | 18% | 89% | 78% | Yes | Yes | AP / ACE / NCCRS Credits |
| 29 | Lenoir-Rhyne University | $10980 | 78% | 52% | 100% | Yes | Yes | AP Credits |
| 30 | Syracuse University | $40188 | 44% | 83% | 82% | Yes | Yes | AP / ACE / NCCRS Credits |
To get a more in-depth look at our school ranking methodology, please visit our ranking methodology page.
*Tuition information is based on published tuition and required fees, per data by the National Center for Education Statistics (NCES).
Common Undergraduate Degrees for Entrepreneurship
While there are no required prerequisites to enter most programs, common undergraduate degrees that lead to the master's in entrepreneurship include business, accounting, marketing, economics, computer science, environmental science, and psychology. For example, undergrads with business majors often choose graduate degrees like Master of Science in Finance, Chartered Financial Analyst, and Master of Public Administration. Any subjects that help with the knowledge of starting a business, understanding financial problems within entrepreneurship, dealing with technical issues, or building and maintaining a brand with advertising and campaigns can lead well in to a master's program.
Admissions Requirements for Entrepreneurship Master's Programs
The admission requirements for a master's in entrepreneurship does not require any particular field of study, but a solid undergraduate degree in such fields as marketing, business, or economics as well as real work experience or an internship in the field would be most advantageous. You will need a bachelor's degree from an accredited university, satisfactory GRE or GMAT scores, and a GPA of at least 3.0. Depending on the university, some programs do NOT require a GRE score but rather allow a lower GPA of 2.7 or a minimum score of 3.5. Check your program of interest to see if letters of recommendation are required as well.
Why Should I Get a Entrepreneurship Master's Degree?
A master's in entrepreneurship gives the graduate more opportunities for career advancement and the core skills needed to start a business from the ground up. A master's graduate is in a better position for a higher income job and possibly better job satisfaction, especially in management, marketing, or advertising professions. Another feature that might attract an undergraduate to pursue a master's in entrepreneurship is the considerable growth rate of management and marketing positions, indicating a strong demand in the workplace for master's graduates.
How to Choose a Master's in Entrepreneurship Program
Ask yourself a few questions before choosing a master's program in entrepreneurship. Assess the following:
- Does the studied program give me the skills and knowledge needed to advance in my career?
- Is previous work experience required and do I meet it?
- How do I find the right course program to fit my own career goals and needs?
- Am I able to work while pursuing my master's degree?
- What is the required amount of time needed to complete the program?
Make sure you evaluate all the programs you peruse to make sure they meet your personal requirements. Location or online opportunities might be another criteria to think about.
Entrepreneurship Master's Degree Courses
Some common master degree courses for entrepreneurship can include the following:
- Financial Management - this course deals with financial theory and analytical reasoning dealing with business issues.
- Strategic Marketing Management - this course discusses how best to advertise products or businesses in a marketing plan, and how to fine tune previous strategies and analyze results.
- Launching New Ventures - this course goes over how to evaluate ideas, develop them into a business, and then launch it to the public.
Entrepreneurship Foundational Courses
Common foundational courses in a master's degree for entrepreneurship program include the following:
- Principles of Entrepreneurship - learn about your role as an entrepreneur, entrepreneurship as a career, how to navigate business ethics in business, and general management principles.
- Customer-Focused Entrepreneurship - learn about how best to seek, secure, and manage customers in one's own business based on cutting edge ideas and evidence.
- New Venture Finance - explore how finance plays a role including how to secure funding in a new venture, and how it may be used to grow your business.
- Tech Ventures - how to use technology in a new venture for growth and productivity as well as learning entrepreneurship subjects such as leadership and negotiation.
- Business for Entrepreneurs - investigate the relationship between your business venture and macroeconomics, accounting, management and marketing.
Entrepreneurship Specialist & Elective Courses
Elective courses allow the student to more closely focus on a certain expertise. Some of these are:
- Entrepreneurship for Owner-Operated Business - skills for business owners including leadership, negotiation and managing conflict with confidence. How to initiate, maintain, and grow your own business, including marketing and selling a product to compete with one another.
- Global Social Entrepreneurship - entrepreneurship at the international level and how to seek and find business opportunities.
- Social Entrepreneurship - how to concentrate your business on matters that deal with social and environmental issues.
Licensure & Certification in Entrepreneurship
A license is generally required to open and operate a business in any of the states in the US, so first contact your state agency to see if one is needed or not. For example, someone who starts a business in consulting usually does not need a license, while someone in the health field definitely does. Inability to prove licensure results in steep fines and even jail time.
Check for all required licenses you will need. For example, if you would like to sell a product, then a sales tax license is required. If you'll be opening a physical location to sell a product, a zoning permit is required as well as a health department permit if you plan on selling food. These types of licenses or permits can be obtained from your own local city hall in the state you reside in.
Concentrations Offered for a Master's in Entrepreneurship Degree
Concentrations for a master's degree in entrepreneurship may include the following:
- Entrepreneurship - the skills necessary to succeed in business opportunities that may be available to you and to successfully launch one of your own.
- Innovative strategy - strategy, innovation, creativity, and additional management skills required to manage companies or one of your own. This concentration may lead to a job as a business strategist.
- Technology and innovation management - explores research, design, and innovation methods involved in management of existing teams in companies or new entrepreneurial ventures.
This concentration may lead to business careers for creative people.
Post-Graduate Options After Master's in Entrepreneurship
There are academic options available to the student after obtaining a master's in entrepreneurship such as pursuing a doctorate degree in business or management. Though the number of graduates in this field is small compared to other PhD disciplines, it can be a good path for a student interested in independent research in a particular subject. Students can build training in data analysis, experimental methods, and problem solving. After obtaining a PhD, the typical career route is teaching through a university or college where research can be involved as well.
What Can I Do with an Entrepreneurship Master's Degree?
After receiving a master's degree in entrepreneurship, there are many careers available for the aspiring entrepreneur. Though the student is well prepared to start their own business venture, becoming employed within a company offers a multitude of options as well. Explore professions such as:
- Business Consultant - help businesses optimize for productivity and growth by helping them develop a budget, a communications plan, outreach and more.
- Human Resources Manager - manage the financial and compensation packages inherent within a company as well as employee policies.
- Marketing Manager - carry out all marketing and advertising within a company to promote their product or services, including social media campaigns.
Job Outlook for a Master's in Entrepreneurship
The job outlook for a master's in entrepreneurship vary depending on the chosen profession. In looking for the best jobs for aspiring entrepreneurs, consider that the average growth rate for all careers is 4%. Anything higher than that is considered good to exceptional.
Here is a sample of career paths with their job outlooks including median annual salary and projected growth rate:
- Management analyst - someone in this type of role is hired with the goal in mind to increase a company's profits through better management of its finances and overall structure. The median annual salary for a management analyst is $87,660 with a projected growth rate of 11%.
- Buyer and purchasing agent - someone in this career is responsible for buying products and services at prices that optimize profits. The median annual salary for a buyer and purchasing agent is $72,270 with a projected decline rate of -7%.
- Market research analyst - analysts in this role determine the performance of a certain product or service and how well they will sell. The median annual salary for a market research analyst is $65,810 with a projected growth rate of 18%.
How to Become a Market Research Analyst
In order to become a market research analyst, you'll need a bachelor's degree is needed. Some positions might require a master's degree as well, such as those positions that involve leadership or technical research. Typical degrees for a market research analyst include those in statistics, math, computer science, business administration, or communications.
This position requires you to have strong skills in analytics, communication, critical-thinking, and be detailed oriented. You can either work as an individual or within a team where you'll collect, analyze, and present data using different graphic techniques. The average salary for market research analyst is $65,810 per year, and as of 2019 there were a total of 738,100 jobs.
The job outlook is expected to increase by 18% between 2019 and 2029 - much faster than average of 4%. The largest employers for market research analysts were in management and technical consulting services followed by finance and insurance companies and publishing industries.
How to Become a Human Resource Manager
In order to become a human resource manager, a bachelor's degree and some work experience is needed. In some instances of employment, a master's degree is preferred. Someone in this role may have a bachelor's degree in human resources, business management, education, or information technology.
A human resource manager need skills in communication, decision-making, leadership, and interpersonal relationships as they recruit, interview, and hire new employees. They also may consult other managers for problems in equal employment opportunity and sexual harassment. They usually work in offices and can travel to other branches of a company where meetings are being held. Work hours are usually during the day, but at times can be greater than 40 hours per week.
The largest employers of human resource managers are professional and technical services followed by manufacturing, government, and healthcare. The average salary for a human resource manager for 2020 was $121,220 per year with a 6% faster than average growth for 2019 - 2029.
Master's in Entrepreneurship Program Financial Aid & Scholarship Resources
Many options for financial aid and scholarship programs are available for students completing a master's in entrepreneurship including the Free Application for Federal Student Aid (FASFA)). To qualify the student can be either a U.S. citizen or eligible noncitizen attending any university, or college. The FAFSA is solely based on financial need, and there is not an age limit to apply.
Other scholarships that students in this major can apply to include those that are program-specific such as the following:
- Global Student Entrepreneur Awards - for students enrolled in undergraduate or graduate programs at a college or university. They must in business for at least the past six consecutive months. Global Student Entrepreneur Awards are given at the levels of $5,000, $10,000, and $20,000.
