Best Business Schools in Illinois – 2025 Accredited Colleges & Programs

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Landing a managerial position can be tricky if you do not have the education requirements and relevant experience needed for the job. That is why, for most professionals who are in the field of business and management, careful consideration of their education and career path is essential.

Illinois, with its diverse industries, strategic location, and esteemed educational institutions, emerges as a potential hub for individuals aspiring to excel in business management. Additionally, it is expected that about over one million jobs will be available each year for management occupations (BLS, 2022). Hence, if you are planning on pursuing a career in business management, the best time to start would be today.

In line with that, we will highlight the best business schools in Illinois, the estimated costs, and the amount of time it will take to get a degree. In this guide, we will also discuss the considerations you should look for when choosing a business school in Illinois.

Best Business Schools in Illinois Table of Contents

Is business management a good job in Illinois?
Business Program Length in Illinois
Tuition and Costs of Business Programs in Illinois
Illinois Schools Offering Business Programs for 2025
What To Look For in a Business Program in Illinois
Online Learning Options in Illinois Business Schools
Career Pathways for Aspiring Accountants in Illinois
Is an accelerated finance degree beneficial for advancing my career?
Can Integrating Psychology Enhance Business Leadership?
How Important is Practical Experience in Illinois Business Programs?
Can Business Graduates Transition into Substance Abuse Counseling?
Which Professional Certifications Can Advance My Career in Illinois?
How can Illinois business school graduates enhance their skills post-graduation?
Can Business Graduates Transition into the Forensic Science Field?
Can Business Graduates Transition into the Pharmaceutical Field?
Can Business Graduates Transition into the Health and Nutrition Field?
Can you pursue an MBA without a business degree?
What Alternative Career Paths Are Available to Business Graduates in Illinois?
Can Business Graduates Transition into the Legal Field?

Is business management a good job in Illinois?

Illinois is situated at the center of North America, where companies thrive in a competitive business environment. Because it is conveniently located, those who are planning to venture into the field of business management can have easy access to operations and millions of experienced workers. Illinois is also home to over 192 higher education institutions, making it easier for students to choose among the best business schools Illinois has to offer (IDCEO, 2023).

Additionally, management roles often come with higher salaries and additional benefits compared to non-management positions. This financial aspect, combined with the strategic advantages of Illinois, makes pursuing a management career in the state a promising prospect for those seeking both professional fulfillment and financial growth. These factors can also affect the job satisfaction of business managers, and can help you decide whether this career path is for you or not.

Business Program Length in Illinois

For aspiring managers who are looking for business schools in Illinois, we have highlighted the common business programs and the approximate time it takes to complete them:

Associate’s Degree in Business: An associate’s degree in business typically takes about two years to complete. It provides a foundational understanding of business concepts and can serve as a stepping stone to further education or entry-level positions.
Bachelor’s Degree in Business Administration (BBA): A bachelor’s degree in business administration usually takes around four years to complete. This program offers a comprehensive education in various aspects of business, including management, marketing, finance, and more. You can also look for an affordable business degree online if you want a more flexible schedule.
Master of Business Administration (MBA): An MBA program can vary in length. A full-time MBA program typically takes one to two years to complete. However, for an MBA, an online business management degree might have more flexible timelines to accommodate working professionals.
Ph.D. in Business: A Ph.D. in business can take around four to six years to complete, depending on the research focus and dissertation requirements. There are also business schools in Illinois that offer a maximum of four years for a Ph.D. for students who want to pursue teaching positions in universities (SIU, 2023).
Certifications and Workshops: Some business-related certifications or workshops can be completed in a matter of weeks or a few months, providing specific skills or knowledge enhancement in a focused area. Alternatively, you can also obtain a degree with a major in supply chain management.

Tuition and Costs of Business Programs in Illinois

The tuition and costs of business programs in Illinois vary depending on several factors. These factors can greatly influence the overall affordability of pursuing a business education in the state. Some of the best business schools in the Midwest will calculate the total costs depending on whether you are an Illinois resident or not. It will also depend on the type of institution, the program duration, and the degree level you want to complete.

In general, the average cost of tuition and fees for an undergraduate business program in Illinois is about $35,210 for in-state students and $54,046 for out-of-state students. If you prefer to enroll in some of the best online business schools in the state, it can cost you around $23,904 (UIUC, 2023). For a graduate degree, it can cost about $20,000 to around $30,000, depending on whether you are an Illinois resident or not (SIUE, 2023).

Illinois Schools Offering Business Programs for 2025

When choosing the best business schools in Illinois, it is important to consider factors like affordability, performance, and reputation of the school, such as the UIUC business school ranking. Beyond rankings, ensure that the business schools you’re considering hold appropriate accreditation from reputable accrediting bodies.

According to our research, here are some of the best business schools Illinois has to offer:

University of Illinois at Urbana Champaign

Those who want to enroll in undergraduate and graduate business programs can do so at the University of Illinois at Urbana Champaign Business School. Aside from business administration, they also offer accounting and finance under the business department. There are also recent reports about the Gies College of Business ranking for those who want to weigh their options first.

Program Length: Two to four years
Tracks/concentrations: Business administration, accountancy, and finance
Cost per Credit: $540 (in-state), $1,183 (out-of-state).
Required Credits to Graduate: 124
Accreditation: Association to Advance Collegiate Schools of Business

University of Illinois at Chicago

UIC’s College of Business Administration offers an MBA program and other specialized master’s degrees in business. Their degree-completion program can both be accessed on campus and fully online. UIC also allows double majors, double degrees, and a second bachelor’s degree for those interested in more comprehensive learning when it comes to business management.

Program Length: Four years
Tracks/concentrations: N/A
Cost per Credit: $613 (in-state), $1,133 (out-of-state).
Required Credits to Graduate: 120
Accreditation: Association to Advance Collegiate Schools of Business

Loyola University Chicago

The Loyola University Quinlan School of Business offers graduate, undergraduate, graduate certificate, and professional education for aspiring managers. For those who are looking for options, LUC’s school of business has 13 undergraduate majors to choose from. They also offer the option of a part-time or full-time MBA degree, as well as graduate certificates for individuals who want to pursue a specialization. This includes business fundamentals, business data analytics, and human resources and employment relations.

Program Length: Two to four years
Tracks/concentrations: N/A
Cost per Credit: $1,196 (full-time), $925 (part-time).
Required Credits to Graduate: 120
Accreditation: Association to Advance Collegiate Schools of Business

Illinois Institute of Technology

IIT’s Stuart School of Business offers a variety of bachelor’s degrees related to business, such as finance, business administration, marketing analytics, and financial economics. They also offer master’s and doctoral degrees, as well as certificates and skill courses focused on the business industry. If you are looking for business schools in Illinois that offer accelerated degrees, the IIT’s SSB also offers an accelerated master’s program in business administration.

Program Length: Four years
Tracks/concentrations: Business administration
Cost per Credit: $1,712
Required Credits to Graduate: at least 120
Accreditation: Association to Advance Collegiate Schools of Business

Northwestern University

The Kellogg School of Management at Northwestern University offers a master’s in management for postgraduates. For undergraduates, you can choose between two certificate programs: financial economics and managerial analytics. Kellogg’s master’s program in management lasts about 10 months and can help graduates develop advanced skills in communication and leadership.

Program Length: 10 months to two years
Tracks/concentrations: Managerial analytics
Cost per Credit: $1,012
Required Credits to Graduate: at least 20
Accreditation: Association to Advance Collegiate Schools of Business

What To Look For in a Business Program in Illinois

From 2021 to 2031, overall employment in management occupations is expected to grow by about eight percent (BLS, 2022). As such, the demand for individuals who have a degree in management, business administration, or other related fields is also projected to increase in a few years.

If you are planning to look for a business program in Illinois, here are some of the things you should look out for:

Accreditation: Accreditation should always be the first thing you should look for in a business program, or any program, for that matter. You should ensure that the business program and the institution are accredited by a recognized accrediting body, such as the AACSB.
Curriculum: The next thing you should do is review the program’s curriculum to ensure that it covers relevant topics and courses that you want to learn. If you have a specific area of interest, such as a master’s degree in supply chain management, check if the program offers specializations in that field.
Faculty Expertise: Finding a school with qualified faculty holding strong credentials should also be your priority. This guarantees that you can receive high-quality education and insights from professionals in the field.
Career Services and Placement: A strong career services department can help you transition from education to the workforce. That is why you should learn about the career services offered by the program, including job placement rates, networking events, resume workshops, and alumni connections.
Industry Connections: You should also research the program’s relationships with local businesses in Illinois, corporations, and industry organizations. Strong connections can lead to internships, job opportunities, and guest speaker engagements.
Tuition and Financial Aid: Lastly, you should compare tuition costs. Look out for available scholarships, grants, loans, and assistantships to determine the affordability of the program.

Online Learning Options in Illinois Business Schools

As the demand for flexible learning solutions continues to rise, Illinois business schools are expanding their offerings to include a wide range of online programs tailored to meet the needs of working professionals and distant learners. These programs offer the same rigorous curriculum as traditional on-campus degrees but are designed to provide students with the ability to manage their studies around personal and professional commitments.

For those considering pursuing an advanced degree without traditional barriers, Illinois is home to several online MBA no GMAT scores required. These programs emphasize accessibility and flexibility, allowing more professionals to advance their education without the need for standardized test scores.

Online programs at Illinois business schools cover various business disciplines, including finance, marketing, and strategic management. These programs often offer asynchronous coursework, which does not require real-time attendance, allowing students to learn at their own pace and on their own schedule. Synchronous components, such as live class discussions and webinars, are also incorporated to foster interaction and engagement among students and faculty.

Choosing an online business program in Illinois offers several advantages. Students can benefit from the state's robust business resources and networking opportunities without the need to relocate or commute. Additionally, online programs can be a more cost-effective option, as they typically offer lower tuition rates and minimize additional expenses like housing and transportation.

By integrating online learning options into their offerings, Illinois business schools not only broaden their accessibility but also prepare their students for success in a digital-first world. This approach ensures that graduates are adept at using modern tools and platforms that are increasingly prevalent in the global business environment.

Career Pathways for Aspiring Accountants in Illinois

A significant number of business graduates in Illinois explore specialized career paths post-graduation, with accounting being one of the most sought-after fields. Becoming a Certified Public Accountant (CPA) is a natural progression for those aspiring to excel in finance, auditing, and consulting roles. With Illinois' dynamic business environment and supportive regulatory framework, CPAs are in high demand across various industries.

Aspiring CPAs must meet specific academic and professional requirements to achieve certification. These typically include completing 150 semester hours of relevant coursework, passing the rigorous Uniform CPA Examination, and fulfilling Illinois' experience prerequisites. Many Illinois business schools provide targeted accounting programs that align with these qualifications, ensuring graduates are well-prepared for the licensing process.

Moreover, for individuals contemplating this career trajectory, understanding how to become a CPA in Illinois is essential. Researching accredited accounting schools, internship opportunities, and CPA exam preparation resources can significantly enhance your prospects in this competitive domain.

Choosing accounting as a career opens doors to numerous opportunities, including positions in corporate finance departments, public accounting firms, and governmental agencies. With the state's economic vitality, Illinois presents a fertile ground for accountants to build a rewarding career while contributing to organizational success and financial integrity.

Is an accelerated finance degree beneficial for advancing my career?

For professionals aiming to rapidly enter advanced financial roles, a specialized and time-efficient program can be a strategic choice. By focusing on high-impact subjects such as financial analysis, risk management, and strategic planning, these condensed courses offer real-time projects and industry-aligned experiences that can immediately enhance your professional profile. Evaluating program accreditation, alumni success, and direct ties to the business sector is crucial when considering how an accelerated finance degree can serve as a catalyst for swift career progression.

Can Integrating Psychology Enhance Business Leadership?

Business leaders who complement their management expertise with psychological insights can drive improved team dynamics and decision-making. By studying behavioral patterns and motivational drivers, graduates gain tools to nurture employee engagement and resolve conflicts effectively. Exploring specialized programs in psychology can expand your strategic vision in leadership and organizational development. For guidance on these interdisciplinary opportunities, consider reviewing the best colleges for psychology in Illinois.

How Important is Practical Experience in Illinois Business Programs?

Illinois business schools increasingly emphasize real-world engagement through internships, co-ops, and industry partnerships, serving as a bridge between academic theory and professional practice. These hands-on opportunities enable students to develop critical skills such as strategic decision-making, effective communication, and problem-solving in actual business environments. Collaborations with industry leaders provide insight into market trends while fostering valuable networking connections. For professionals seeking flexible learning options that blend academic rigor with practical training, exploring our guide on the easiest online MBA programs can further enhance career readiness.

Can Business Graduates Transition into Substance Abuse Counseling?

Business graduates can leverage their expertise in organization, communication, and strategic planning to explore roles in substance abuse counseling. By obtaining the necessary certifications and specialized training, they may transition into a field focused on supporting vulnerable populations and community wellness. For those interested in pivoting into this emerging area, understanding state-specific licensure requirements is essential. Learn more about the process and specific credentialing requirements through how to become a licensed substance abuse counselor in Illinois.

Which Professional Certifications Can Advance My Career in Illinois?

Acquiring specialized certifications can validate your expertise and differentiate you in Illinois’ competitive business environment. Consider credentials that align with your career goals; for example, finance and accounting professionals may explore advanced credentials and begin the process of how to become a CPA in Illinois. Additionally, certifications in project management, digital marketing, or operational excellence can expand your skill set and position you for leadership roles within diverse industries.

How can Illinois business school graduates enhance their skills post-graduation?

Even after completing a business degree, many graduates can further boost their careers by pursuing additional training and skill development opportunities. Continuing to learn and expand your knowledge helps you stay competitive in the dynamic business world, where trends, technologies, and best practices evolve rapidly.

Professional Certifications: Consider certifications to expand specific skill areas relevant to your career: Certified Public Accountant (CPA) for accounting professionals, Project Management Professional (PMP) to validate project management skills, Certified Financial Analyst (CFA) for those interested in finance and investment, and Certified Marketing Professional (CMP) for marketing and advertising expertise.
Networking and Industry Associations: Joining professional associations can enhance networking and provide ongoing learning. Associations such as the Illinois CPA Society or Chicago Financial Analysts Society offer local connections. Attending conferences, industry meetups, and seminars can also keep you updated and connect you with other professionals in your field.
Executive Education Programs: Many universities offer short-term executive education courses, ideal for skill-specific or leadership training. These programs are designed for mid- to senior-level professionals and often focus on high-level topics such as strategic decision-making, digital transformation, and corporate finance.
Technology and Data Analytics Skills: As technology increasingly drives business, developing skills in areas like data analytics, digital marketing, and business intelligence can be a strong asset. Training in software like Tableau, Microsoft Power BI, and Google Analytics can help business graduates make data-informed decisions. Learning coding basics in languages like Python or SQL can be useful for business analysts.
Soft Skills Development: Strong interpersonal skills are highly valuable in business. Consider workshops and courses that strengthen. Communication skills are useful for presentations and negotiations. Leadership skills help in guiding teams effectively and building a positive company culture. Emotional Intelligence (EQ), meanwhile, helps promote better teamwork and relationship-building.

Can Business Graduates Transition into the Forensic Science Field?

Business graduates can leverage their analytical proficiency and attention to detail in roles that intersect with forensic science. Transitioning into this sector often requires supplementing core business skills with targeted coursework and specialized training in investigative techniques. This approach equips professionals to contribute to areas such as forensic accounting, fraud detection, and risk management within corporate settings. For those aiming to merge business acumen with scientific inquiry, understanding the forensic scientist education requirements in Illinois is a crucial step towards navigating this niche field.

Can Business Graduates Transition into the Pharmaceutical Field?

Business graduates can leverage their strategic planning, financial management, and operational expertise in pharmacy management roles by bridging business acumen with the nuances of healthcare operations. Transitioning into this field may require acquiring specific knowledge in regulatory standards, supply chain management, and patient-focused services. Professionals interested in pursuing this pathway should familiarize themselves with available certifications and compliance protocols, including pharmacist licensure requirements in Illinois, to ensure they meet state-specific mandates and industry expectations.

Can Business Graduates Transition into the Health and Nutrition Field?

Business graduates with robust analytical and managerial skills can excel in emerging sectors by applying their expertise to the health and nutrition industry. Exploring this interdisciplinary pathway may lead to roles in corporate wellness, strategic health program management, and nutritional advisory for businesses. Professionals interested in merging business acumen with specialized health knowledge are encouraged to investigate educational options and certifications. For additional insights on integrating business skills with health specialties, review how to become a nutritionist in Illinois.

Can you pursue an MBA without a business degree?

Perhaps you are wondering, "can you get into a MBA program without a business major?"
Simply put, you can apply to an MBA program without a business degree. Many top MBA programs are open to applicants from various academic backgrounds, not just business. However, there are a few things to keep in mind:

Preparation through pre-MBA courses: Some schools offer preparatory courses to help non-business majors build foundational knowledge in key areas like finance, marketing, and economics.
Work experience: Although a business degree isn’t required, many MBA programs value professional work experience. Having relevant industry experience can significantly strengthen your application, especially if you’ve held leadership or managerial roles.
GMAT/GRE performance: High GMAT or GRE scores can help offset the lack of a business degree. These scores demonstrate your analytical and problem-solving skills, which are essential in an MBA program.
Personal statement: Your application essay can highlight how your non-business background has given you a unique perspective. Emphasize transferable skills from your previous education and work experience, such as critical thinking, creativity, or technical expertise.

What Alternative Career Paths Are Available to Business Graduates in Illinois?

For individuals who have completed a business degree in Illinois, there are various alternative career paths to consider beyond traditional management roles. One such option is urban planning, which involves designing and developing urban spaces to improve quality of life and economic vitality. To explore this career path, it is essential to research urban planning schools in Illinois that offer relevant programs and certifications. Additionally, business graduates can also consider careers in fields like sustainability, entrepreneurship, and public policy, which can leverage their business skills and knowledge to drive positive impact and innovation. By exploring these alternative career paths, business graduates in Illinois can expand their professional horizons and contribute to the state's economic and social development in meaningful ways.

Can Business Graduates Transition into the Legal Field?

Business graduates possess analytical thinking, risk assessment, and strategic planning skills that can be effectively applied in legal support roles. Transitioning into the legal field need not require a full law degree, as specialized certification programs and targeted training can prepare professionals for roles such as paralegal or legal assistant. For targeted guidance on entering this field, consult how to become a paralegal in Illinois. This path allows graduates to capitalize on their business acumen while broadening career opportunities in the dynamic legal sector.

Should I study business management in Illinois?

Illinois, often referred to as the “Prairie State," boasts a thriving economy that serves as a good location to start an education in business management. Illinois is home to a multitude of esteemed universities and colleges, many of which offer comprehensive business programs. These programs not only cover fundamental business principles but also delve into specialized areas, allowing students to tailor their education to their interests and career goals.

Furthermore, you can also choose a business management school and look for qualifications such as the UIUC MBA ranking or the school’s accreditation. Beyond educational considerations, financial aspects play a role in shaping one’s decision. Although slightly more expensive compared to other programs, business schools in Illinois offer an assortment of business programs, each with varying tuition rates and financial aid options.

Overall, Illinois is a decent choice for individuals considering a business management education. By evaluating factors such as school rankings, program offerings, and financial considerations, prospective students can make a well-informed decision that aligns with their educational and career aspirations.

Key Insights

High Demand for Managers: Over one million management positions are projected to be available annually, making business management a promising career choice.
Strategic Location: Illinois's central location in North America offers competitive business environments and access to a large pool of experienced workers.
Variety of Programs: Illinois offers a wide range of business programs, from associate degrees to Ph.D. programs, catering to different educational and career aspirations.
Strong Educational Institutions: Illinois is home to 192 higher education institutions, many of which offer top-rated business programs with diverse specializations.
Financial Prospects: Management roles often come with higher salaries and benefits, enhancing job satisfaction and financial growth.
Accreditation and Quality: Accreditation from recognized bodies like the AACSB ensures the quality and legitimacy of business programs, which is crucial for career advancement.
Flexible Learning Options: Many schools offer online and part-time programs, making it easier for working professionals to pursue advanced degrees.
Career Services and Networking: Strong career services, industry connections, and networking opportunities in Illinois's business schools support students in transitioning from education to the workforce.

FAQ

1. Is business management a good job in Illinois?

Yes, business management is a good job in Illinois due to the state's thriving economy, strategic location, and high demand for managerial roles. Additionally, management positions offer competitive salaries and benefits, contributing to job satisfaction and financial growth.

2. How long does it take to complete a business program in Illinois?

The duration of business programs varies:

Associate’s Degree: About two years.
Bachelor’s Degree: Approximately four years.
Master’s Degree (MBA): One to two years for full-time programs; part-time and online programs may take longer.
Ph.D. in Business: Typically four to six years.

3. What is the cost of business programs in Illinois?

The cost of business programs varies based on several factors:

Undergraduate programs: In-state students pay around $35,210, while out-of-state students pay about $54,046 annually.
Online programs: Average around $23,904 annually.
Graduate programs: Range from $20,000 to $30,000, depending on residency status.

4. What should I look for in a business program in Illinois?

When choosing a business program, consider the following:

Accreditation from recognized bodies like AACSB.
Comprehensive and relevant curriculum.
Qualified faculty with strong credentials.
Effective career services and job placement rates.
Strong industry connections for internships and job opportunities.
Tuition costs and availability of financial aid options.

5. Are there online business programs available in Illinois?

Yes, many institutions in Illinois offer online business programs, providing flexibility for working professionals and those with other commitments. These programs often mirror the curriculum and quality of on-campus programs.

6. What are the highest-paying business management roles in Illinois?

High-paying roles in business management include positions such as Chief Executive Officers, Financial Managers, Marketing Managers, and Sales Managers. These roles typically require advanced degrees and significant experience.

7. How important is accreditation for business programs?

Accreditation is crucial as it ensures the program meets high educational standards and is recognized by employers and other institutions. Accredited programs offer quality education and enhance employment prospects.

8. What kind of support do business schools in Illinois offer for career development?

Business schools in Illinois offer various career development supports, including job placement services, networking events, resume workshops, and access to alumni networks. These services help students transition smoothly from education to the workforce.

9. Can I pursue a business degree part-time in Illinois?

Yes, many institutions in Illinois offer part-time business degree programs, including part-time MBAs and other flexible learning options. These programs are designed to accommodate working professionals and those with other responsibilities.

10. Is Illinois a good place to start a business career?

Illinois is an excellent place to start a business career due to its strategic location, diverse economy, and access to top educational institutions. The state's business environment provides ample opportunities for growth, networking, and professional development.

References:

Bureau of Labor Statistics. (2023). Management Occupations. https://www.bls.gov/ooh/management/home.htm
Illinois Department of Commerce and Economic Opportunity. (2023). Why Illinois? https://dceo.illinois.gov/whyillinois.html
Southern Illinois University. (2023). Business Administration Ph.D. in Management. https://business.siu.edu/academics/phd
Southern Illinois University-Edwardsville. (2023). Tuition and Fees Estimator. https://www.siue.edu/paying-for-college/estimator
University of Illinois Urbana-Champaign. (2023). Undergraduate Admissions. https://www.admissions.illinois.edu/invest/tuition