Turning a side hustle into a career is possible with the right skills, but could a master’s degree give you the edge to innovate and succeed? Use Master’s Match’s guide to explore online master’s programs in entrepreneurship, and to learn how they can empower you to launch your own profitable business.
Author: Kathleen Curtis
Expertise: Graduate EducationCareer DevelopmentFinancial AidEditor: Kristin Marino
- Which Student Are You?
What Kind of Entrepreneurship Program Is Right for You?
Read more - Inside Real Programs
An inside look at actual online programs, exploring their structure, curriculum, costs, admission criteria, and more…
Read more - Cost Breakdown
A clear overview of how much my degree might cost and the factors influencing total expenses…
Read more - Salary/Pay
What Do Executives Earn? Salary Outlook with a Master's in Entrepreneurship
Read more - FAQs
Insightful and guiding answers to common questions prospective students like myself have about earning this degree…
Read more - Top Programs
A list of today’s best online and hybrid programs based on quality, affordability, and student support…
Read more
What Kind of Entrepreneurship Program Is Right for You?
Some entrepreneurship master’s programs are built for people already running a business, others for career-switchers testing an idea for the first time, and a few are really concentrations tucked inside a broader MBA. The wrong choice can cost you time and tuition you don’t get back. Use the guide below to find which format matches where you actually are.
Which Entrepreneurship Student Is Most Like You?
The Career Starter
You’ve just graduated and want to launch your own venture now, rather than spend years building experience inside someone else’s company first.
Because you likely don’t have a professional network or track record yet, look for a program with a startup incubator or accelerator built in — it gives you mentorship, potential seed funding, and a founder community you haven’t had time to build on your own. In-person programs also matter here, since pitch practice, investor meetings, and team formation benefit from face-to-face collaboration.
The Career Changer
You’re leaving a career outside business — engineering, healthcare, the arts, or elsewhere — with an idea you want to build into a company, but no formal training in the finance, legal, or marketing fundamentals founders need.
A program built for students without a business background will walk you through the fundamentals — how to read a P&L, structure a cap table, and market a new product — rather than assuming that knowledge. A hybrid format lets you develop your actual business plan as coursework while keeping a paycheck coming in during the transition.
The Promotion Seeker
You’re already working — often inside a startup or a corporate innovation team — and want the strategic and financial skills to lead new venture development, whether that’s your own company or a new product line inside your employer’s.
Part-time pacing lets you keep your income and apply coursework directly to a live venture or internal project as you go. Coursework in innovation and new venture strategy, rather than general small-business operations, is what prepares you for building something new instead of running an established one.
The Working Balancer
You’re working full-time — sometimes while quietly building a side venture — and need an entrepreneurship program flexible enough to fit around a job you’re not ready to leave yet.
A fully online, self-paced format means you’re not tied to a class schedule that conflicts with your job or your venture’s early hours. Part-time pacing keeps the workload sustainable while you test whether your business idea has enough traction to go all-in.
The Venture Backed Founder
You’re building a startup you intend to scale fast and fund through venture capital, and you need training in fundraising, term sheets, and investor pitching — not just how to run a small local business.
Coursework specifically in venture capital and fundraising teaches you the mechanics of term sheets, valuation, and investor relations that a general small-business curriculum won’t cover in depth. Access to pitch competitions and investor networks — usually strongest in in-person programs — can also translate directly into early funding or connections for your company.
The Social Founder
You want to build a venture — for-profit, nonprofit, or hybrid — that solves a social or environmental problem, and need training that treats mission and measurable impact as core to the business model, not an afterthought.
A social entrepreneurship concentration teaches you how to structure a mission-driven venture, including hybrid legal structures and alternative funding sources like impact investors and grants. Coursework in impact measurement also matters here, since funders and mission-driven stakeholders will expect you to demonstrate outcomes, not just revenue.
FIND PROGRAMS NEAR YOU:
Profiling Three Online Entrepreneurship Master’s Programs
Below, we profile three accredited U.S. universities that offer reputable online (or hybrid) master’s programs in entrepreneurship. Each summary includes key details about format, length, cost, admissions, and career outcomes to help you compare options.
University of Florida (UF) — Master of Science in Entrepreneurship (MSE)
The University of Florida’s online M.S. in Entrepreneurship is a 32-credit, one-year graduate program designed to “awaken the entrepreneurial spirit.” It’s a 100% online program with no campus visits required, making it accessible to students anywhere.
The curriculum emphasizes experiential learning. Students learn cutting-edge entrepreneurial theory and immediately apply it by consulting for small businesses, commercializing new technologies, and launching their own ventures. The program can be completed in 12 months of full-time study, though working professionals have the option to spread courses over a second year for flexibility.
UF’s program is open to students from any academic background, and no business undergrad is required. Notably, GRE/GMAT scores are not required for admission.
Students benefit from UF’s robust entrepreneurship ecosystem, including access to experienced faculty and the Gator alumni network, which can lead to mentorship and funding opportunities. Graduates of the MSE program have gone on to launch startups, grow family businesses, and take on innovation roles in companies, armed with both a credential and real venture experience.
Duration: 1 year full-time (32 credits). Option to extend to 2 years part-time for working students.
Mode: 100% Online (no residency requirements)
Cost: In-state tuition approx. $16,982; Out-of-state $42,492
Admissions Requirements:
- Bachelor’s degree (with 3.0+ GPA in last 60 credits)
- Statement of purpose (2 pages outlining goals)
- 2 letters of recommendation
- Résumé (professional experience detailed)
- Official academic transcripts
- No GRE/GMAT required (test scores waived)
University of Oklahoma — Master of Science in Entrepreneurship & Innovation
The University of Oklahoma (OU) offers an AACSB-accredited Master of Science in Entrepreneurship & Innovation through its Price College of Business. This 30-credit program is delivered primarily online and can be finished in as little as 12 months.
The program stands out for its “hybrid” format. All coursework is online, but students participate in a one-week on-campus residency that provides hands-on, immersive learning and networking. During this residency, students might engage in entrepreneurial leadership exercises and meet industry experts. The curriculum spans topics like opportunity recognition, venture development, innovation strategy, and change management, equipping graduates to launch startups or drive innovation within existing companies.
The program is designed for working professionals and offers rolling admissions (you can start in fall, spring, or summer). Classes are largely asynchronous online, allowing you to balance coursework with your job. OU does not require GRE/GMAT scores, focusing instead on your academic background and motivation for entrepreneurship.
Graduates gain not only a master’s credential but also access to OU’s extensive alumni network and career support services in the startup community. Many go on to start new ventures, join innovative firms, or advance into product development and business consulting roles.
Duration: 12 months full-time (30 credits). Flexible pacing available (can extend slightly if needed)
Mode: Online courses + 1-week in-person residency (hybrid format)
Cost: $1,015 per credit (approx. $30,450 total tuition)
Admissions Requirements:
- Bachelor’s degree (from a regionally accredited institution)
- Résumé (current professional experience)
- Official transcripts from all college coursework
- Personal statement (why you want to pursue this program)
- No GRE/GMAT required (standardized tests are waived)
- TOEFL/IELTS (for international applicants, to demonstrate English proficiency)
Penn State World Campus — Master of Corporate Innovation & Entrepreneurship (MCI&E)
Penn State University’s World Campus offers a Master of Corporate Innovation and Entrepreneurship, a 33-credit online program focused on developing innovative leaders and startup founders. This program, delivered through Penn State’s renowned Smeal College of Business, blends entrepreneurship with corporate innovation coursework, preparing graduates to launch new ventures or drive innovation in established organizations.
The curriculum is interdisciplinary and customizable. Students take core courses in innovation strategy, new product development, and entrepreneurial leadership, and can choose electives. All courses are taught 100% online with no residency requirement, and the format is designed to be flexible for working adults. In fact, many students study part-time (1-2 courses per semester) while working, finishing the degree in about 20–28 months.
The online learning experience is largely asynchronous, with weekly modules, discussion boards, and project-based assessments. Penn State World Campus prides itself on strong support: classes often include live optional sessions and faculty feedback, and students have access to academic advisors, tech support, and the vast Penn State alumni network.
Duration: Typically 20–28 months (part-time).
Mode: 100% Online (asynchronous learning; no on-campus requirements)
Cost: $1,048 per credit (approximately $34,584 total tuition for 33 credits)
Admissions Requirements:
- Bachelor’s degree (from a regionally accredited institution)
- 3 years of professional work experience (preferred, not strictly required)
- Official transcripts (from all post-secondary institutions attended)
- Résumé or CV (detailing work and educational history)
- Statement of purpose (2–3 pages outlining career goals and reasons for pursuing the degree)
- No GRE/GMAT required (test scores are not considered)
- English proficiency test (TOEFL/IELTS for international applicants)
Understanding Cost: Pricing the Online Entrepreneurship Master’s
The cost of an online entrepreneurship master’s program will depend on a few key factors: tuition rate, number of credits required, and additional fees or expenses. Tuition is usually charged on a per-credit basis, so programs with more credits or higher per-credit rates will have a higher total price.
Fixed costs typically include tuition and mandatory university fees (like technology or distance learning fees). Variable costs include textbooks, course materials, and any travel (if the program has an in-person residency or if you choose to attend networking events).
The good news is that online students often save on relocation or housing costs, since you don’t need to move or commute to campus. Plus, many online learners keep working while studying, which can make financing the degree easier.
Online programs can also be comparatively affordable: some public universities offer in-state tuition discounts for online students, and you might find that total tuition ranges from around $15,000 up to $40,000 for most entrepreneurship master’s degrees. Financial aid is usually available — you can apply for federal graduate student loans, and many schools offer scholarships or payment plans for online students.
Always check if the programs you’re considering have any special fees (for example, a residency fee or online platform fee) so you can budget accordingly. Below is a comparison of three programs and their costs:
| School (Program) | No. of Credits | Cost per Credit | Total Cost |
|---|---|---|---|
| University of Florida — M.S. Entrepreneurship | 32 | $530 (FL resident); $1,327 (non-resident) | $16,982 – $42,492 |
| University of Oklahoma — M.S. Entrepreneurship & Innovation | 30 | $1,015 | $30,450 |
| Penn State (World Campus) — Master of Corp. Innovation & Ent. | 33 | $1,048 | $34,584 |
(Tuition figures above are current as of this writing; always verify on the school’s website for the most up-to-date costs.)
What Do Executives Earn? Salary Outlook with a Master’s in Entrepreneurship
A master’s in entrepreneurship is designed for those building something — whether a startup, a social enterprise, or a new division within an established company. Graduates leave with frameworks for venture creation, funding strategy, and organizational design that apply across industries. Many go on to found companies, lead innovation teams, or take on executive roles where entrepreneurial thinking is a core requirement.
For those who build successful ventures, the financial upside can be significant. Even in corporate settings, entrepreneurial leaders in executive roles are among the highest-compensated professionals in any market.
Use the salary table below to explore chief executive earnings by state — a useful benchmark for understanding the financial ceiling that entrepreneurial career paths can reach.
Chief Executives
| Area | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|
| U.S. | $213,990 | $356,200 | $507,730 |
| Alabama | $166,420 | $222,490 | $317,400 |
| Alaska | $166,710 | $262,750 | $428,990 |
| Arkansas | $119,990 | $196,800 | $330,480 |
| California | $218,600 | $351,090 | $486,830 |
| Colorado | $213,370 | $302,380 | $402,230 |
| Connecticut | $295,120 | $456,890 | $680,080 |
| Delaware | $199,990 | $360,810 | $523,940 |
| Georgia | $208,180 | $378,450 | $517,910 |
| Hawaii | $281,640 | $394,780 | $493,870 |
| Idaho | $177,210 | $296,580 | $403,230 |
| Illinois | $331,920 | $428,710 | $589,720 |
| Indiana | $254,180 | $377,760 | $494,080 |
| Iowa | $211,190 | $331,660 | $365,320 |
| Kansas | $158,100 | $283,880 | $453,350 |
| Kentucky | $179,530 | $298,750 | $466,660 |
| Maine | $138,770 | $233,540 | $401,950 |
| Maryland | $248,660 | $396,650 | $486,860 |
| Michigan | $255,560 | $405,120 | $547,090 |
| Minnesota | $195,670 | $313,510 | $449,270 |
| Mississippi | $139,250 | $185,680 | $304,040 |
| Missouri | $172,320 | $275,660 | $416,060 |
| Montana | $182,340 | $312,050 | $432,240 |
| Nebraska | $214,680 | $335,760 | $515,360 |
| Nevada | $149,770 | $279,600 | $517,310 |
| New Hampshire | $168,590 | $232,570 | $397,850 |
| New Jersey | $310,440 | $448,910 | $666,030 |
| New Mexico | $123,500 | $195,970 | $302,440 |
| New York | $257,980 | $419,730 | $657,630 |
| North Carolina | $314,290 | $442,080 | $624,990 |
| North Dakota | $164,560 | $240,090 | $464,030 |
| Ohio | $176,440 | $350,670 | $484,820 |
| Oklahoma | $163,790 | $240,480 | $387,310 |
| Oregon | $341,630 | $520,980 | $772,840 |
| Pennsylvania | $232,560 | $397,100 | $528,200 |
| Rhode Island | $235,360 | $414,180 | $561,080 |
| South Carolina | $168,840 | $258,950 | $393,490 |
| South Dakota | $280,900 | $428,840 | $546,760 |
| Tennessee | $198,830 | $307,390 | $474,740 |
| Texas | $257,850 | $399,880 | $558,550 |
| Utah | $171,880 | $299,040 | $424,690 |
| Vermont | $175,070 | $303,920 | $428,080 |
| Virginia | $310,740 | $434,580 | $604,090 |
| Washington | $339,810 | $442,180 | $607,100 |
| West Virginia | $151,950 | $253,870 | $403,020 |
| Wisconsin | $208,350 | $318,910 | $426,290 |
| Wyoming | $147,940 | $205,620 | $276,940 |
Source: https://www.bls.gov/oes/2023/may/oes111011.htm
Data does not reflect school-specific information.
FAQs from Entrepreneurship Students
Q: How is a master’s in entrepreneurship different from an MBA?
A: An MBA covers a broad base of business disciplines (finance, marketing, operations, etc.) and often targets those looking to advance in corporate management. A master’s in entrepreneurship, on the other hand, is more specialized, focusing deeply on startup ventures, innovation, and new business development. It typically includes courses tailored to launching and growing businesses (e.g. venture capital, innovation strategy) rather than general management.
Another difference is audience and format: MBA programs (even online MBAs) usually prefer candidates with several years of work experience and may take two years to complete, whereas many entrepreneurship master’s programs welcome students with less work experience and can be completed in around one year.
Q: Do I need a ready business idea (or existing startup) before starting the program?
A: No, you do not need to have a fully formed business idea or existing startup to enroll in a master’s in entrepreneurship. These programs are designed to help you develop ideas and learn the process of entrepreneurship from scratch.
Many students begin with just an interest in innovation and discover or refine their venture ideas through coursework and mentorship. For instance, you might brainstorm a concept in a class on opportunity recognition or join a team project to create a hypothetical startup. By the end of the program, even students who started with no clear idea often have a viable business plan ready.
If you do already have a business idea or even an operating startup, the program can serve as a laboratory to improve and grow it. You’ll get structured feedback from professors and peers, and access to resources (like incubators or pitch competitions) to further develop your venture. In short, come with an open mind and a passion for entrepreneurship; the ideas will evolve as you learn.
Q: Can I work full-time while pursuing an online entrepreneurship master’s?
A: Yes. One of the main advantages of an online master’s program is the flexibility to continue working. Many online entrepreneurship students are working professionals who juggle jobs and even family responsibilities alongside their studies. Expect to spend roughly 10-15 hours per week on coursework for each class (this can vary by program and your course load).
Most programs allow part-time enrollment, meaning you might take just 1 or 2 courses per term if you’re working full-time. The asynchronous course structure (recorded lectures, discussion forums) lets you do the work during evenings or weekends as your schedule permits. It’s still a significant time commitment, so good time management is key, but it’s very achievable.
Q: What kind of support and networking opportunities will I get as an online student?
A: Online entrepreneurship programs typically offer robust support services similar to their on-campus counterparts. You’ll have access to professors during virtual office hours and often be assigned an academic advisor to guide you through the program.
Many programs emphasize mentorship, pairing students with experienced entrepreneurs or faculty mentors who can advise on your business ideas. You’ll also likely engage in team projects, so you build relationships with classmates (who may become future business partners or collaborators).
Networking happens through virtual platforms: live class sessions, discussion boards, and sometimes optional on-campus events or meetups. Schools often host online networking events, webinars with guest speakers, or virtual pitch competitions to enhance your experience. You’ll be part of the university’s community. For example, as an online student at OU or Penn State, you join the same alumni network as on-campus grads.
Additionally, many universities have innovation hubs or incubator programs open to students (online learners can usually participate remotely or during short campus visits). Career services for online students may include resume workshops, job listings, and introductions to venture capital networks or industry contacts.
In short, you won’t be going it alone. Quality online programs strive to provide a rich ecosystem of support, from one-on-one guidance to a community of fellow innovators you can lean on.
Q: Is a master’s in entrepreneurship really worth it?
A: For many, it is worth it. The degree can accelerate your learning, expand your network, and add credibility as you pursue funding or partnerships. You’ll gain a comprehensive understanding of how to run a business beyond just trial-and-error. This includes financial acumen, marketing strategy, operational planning, and leadership skills that can save you from common mistakes entrepreneurs make.
A graduate credential can open doors: job opportunities tend to increase with a master’s in entrepreneurship, whether that means higher-level roles in startups or innovation positions in corporations. If you’re a career-changer, the degree provides a structured path to transition into the world of startups. You’ll also have access to your school’s resources (faculty expertise, research, competitions) which can be invaluable in shaping a successful venture.
Entrepreneurship also values real-world experience. There are successful entrepreneurs with no formal education, and having a master’s doesn’t guarantee your startup will succeed. The degree won’t replace the need for grit, creativity, and hard work, but it will give you a toolkit of knowledge and a support network to draw on.
Best Online Master’s Programs in Entrepreneurship
Dickinson State University
Best for: advancement-focused students
DePaul University
Best for: advancement-focused students
Pennsylvania State University-World Campus
Best for: advancement-focused students
Lehigh University
Best for: advancement-focused students
University of Oklahoma-Norman Campus
Best for: advancement-focused students
Florida Gulf Coast University
Best for: advancement-focused students
