Graduate and Undergraduate Business Schools in Arkansas

Table of Contents

While usually classified as a southern state, Arkansas is one of those “gateway” states that seem to restrict many regions. Of course, Arkansas has the deep South to its east and south, but also the start of the West with Texas to its immediate west and the Midwest and Plains states to the north. A relatively small state that sometimes seems to “fly under the radar,” quickly rose to prominence in the 1990s with the candidacy and then double term of former president Bill Clinton. Its economy is considered very business-friendly, having been ranked by CNBC as having the second-lowest-cost of doing business in the United States; several large corporations are headquartered here, including retailing giant Walmart. The state produces a variety of agricultural, mining, and manufacturing outputs.

Arkansas is one of the smaller states in the union, ranking 33rd in population with just over 3 million people. Given its size, it has a pretty good number of business school options: National Center for Educational Statistics (NCES) statistics show 22 public and non-profit schools that grant undergraduate and graduate business degrees in the state. A good percentage of these are accredited: 12 at the undergraduate level and 11 at the graduate level. We always strongly recommend choosing an accredited college in whatever state you choose to go to school. This will ensure that the program you select has clear objectives and has proven that it produces quality outcomes while adhering to national and international standards. Accredited business schools in the US also typically offer a richer educational experience via interaction with actual businesses.

All of the schools in this article have been accredited by the Association to Advance Collegiate Schools of Business (AACSB), Accreditation Council for Business Schools and Programs (ACBSP), and International Accreditation Council for Business Education (IACBE). They are all public or non-profit and regionally accredited by the Higher Learning Commission (HLC).

In this article, you will find all the essential data you need to help you choose the Arkansas business school that best suits your unique needs, based on various key factors, including tuition, financial aid, entrance exam scores, acceptance rates, and more. The three sections that follow describe undergraduate programs, graduate schools, and the job prospects for business school graduates in Arkansas.

12 Undergraduate Business Schools in Arkansas

As befits a state with a low cost of living, Arkansas’s undergraduate business programs are relatively inexpensive. The overall average tuition for our 12 schools is just a little over $12,000, among the lowest in the nation. Two schools (Ouachita Baptist University and John Brown University) are well above the average in the $25,000 range, while eight of the remaining 12 are below $10,000. Average financial aid is also quite generous at nearly $9,500.

We were able to obtain acceptance rate data for all but one of our schools, which is quite reasonable. The lowest acceptance rate, 42%, is at the University of Arkansas at Pine Bluff, but it is a bit of an outlier: The others are all over 60%, and the overall average is 70%. The University of Arkansas at Little Rock and the University of Central Arkansas is at the top here at 90%.

Unfortunately, graduation rates for undergraduate business degrees in Arkansas are among the lowest in the nation. The overall average is just 46%, and eight of the 12 schools are under 50%. The best combination of acceptance rate and the graduation rate is at John Brown University, with an acceptance rate of 77% and a graduation rate of 65%.

Popular undergraduate programs in Arkansas: Bachelor’s in Accounting | Bachelor’s in Operations Management | Different Types of Human Resources Programs

The table below shows you all the essential data you need about undergraduate business schools in Arkansas, including annual in-state tuition costs, average aid per student, acceptance rates, SAT and ACT score ranges of accepted students, and graduation rates. Click any column header to sort the table based on its contents.

School	City	Tuition	Aid	Median SAT	Median ACT	Accept. Rate	Grad. Rate
Arkansas State University	State University	$8,200	$8,495	933-1205	21-26	70%	44%
Arkansas Tech University	Russellville	$6,624	$6,260			64%	37%
Harding University	Searcy	$18,635	$10,354	980-1220	22-28	70%	64%
Henderson State University	Arkadelphia	$8,340	$8,320	1018-1030	19-25	66%	33%
John Brown University	Siloam Springs	$25,324	$15,663	1015-1245	23-29	77%	65%
Ouachita Baptist University	Arkadelphia	$24,940	$16,422	950-1200	21-28	67%	70%
Philander Smith College	Little Rock	$12,714	$10,087				40%
Southern Arkansas University	Magnolia	$8,196	$9,021	830-1080	18-24	69%	35%
University of Arkansas	Fayetteville	$8,820	$6,868	1010-1220	23-29	63%	65%
University of Arkansas at Little Rock	Little Rock	$8,061	$6,935	890-1100	19-25	90%	28%
University of Arkansas at Pine Bluff	Pine Bluff	$6,898	$9,101	838-1065	16-21	42%	23%
University of Central Arkansas	Conway	$8,224	$7,315	870-1060	20-27	90%	42%

9 Graduate Business Schools in Arkansas

We have data on 11 accredited schools for graduate business study in Arkansas. These schools are a little more expensive than undergraduate schools, but still very affordable. The overall average is just $18,400, with two schools in the $30,000 range and the rest near or below $20,000.

Four schools offer accredited online MBA programs in Arkansas and may be good fits for those who want to keep working while they further their educations. Arkansas State University offers an online MBA with an optional internship or independent study; the program is ranked in the top 10 among courses of this type by US News and World Report. Southern Arkansas University offers an online MBA with specializations in agri-business and supply chain management. Programs are also provided by the University of Arkansas and the University of Central Arkansas. Most accredited online MBA programs offer the same primary curriculum and courses as their offline equivalents, and some allow students to mix in-person and online resources.

Popular graduate programs in Arkansas: Online MBA in Statistics | Online MBA in Music Business Management | Online MBA in Real Estate Management

The table below shows graduate business school tuition costs, average accepted applicant GMAT scores, percentage of faculty with a doctorate, and student-to-faculty ratios. Click any column header to sort the table based on its contents.

School	City	Tuition	Avg. GMAT	Faculty with Doct. Degree	Student/ Faculty
Arkansas State University	State University	$12,076	545	83%	1.43
Arkansas Tech University	Russellville	$29,184		86%	0.57
Harding University	Searcy	$22,968
Henderson State University	Arkadelphia	$9,870		63%	1.77
John Brown University	Siloam Springs	$20,160
Southern Arkansas University	Magnolia	$18,996	442	63%	3.27
University of Arkansas	Fayetteville	$29,186	589	79%	0.86
University of Arkansas at Little Rock	Little Rock	$13,727		84%	1.62
University of Central Arkansas	Conway	$9,129	467	86%	0.84

Job Outlook for Business School Graduates in Arkansas

Over the decade spanning 2016 to 2026, Bureau of Labor Statistics (BLS) data predicts total growth of at least 5% in 32 of 37 business and management occupations across the US.⁵ The highest growth will be for market analysts and marketing specialists, at 22.8% over ten years, with financial managers coming in second at 18.7%.⁵

The Arkansas economy has generally followed that of the nation; unemployment briefly fell relative to the average from 2015 to 2017 but currently sits at 3.8%, just a tick below the US average of 4% at the time of writing.⁶ About 81,500 people were employed in Arkansas’s business and management sector in 2016.⁶ The largest subgroup was general and operations managers at 20,630, more than double the size of any other.⁶

According to BLS data, Arkansas ranked 49th among the 50 states and the District of Columbia for overall average annual wage across all occupations in 2016 at $44,334, well below the national average of $57,617.⁶ Business and management occupations had a weighted average annual salary of around $78,330 that year, well above the state as a whole.⁶ As in most states, chief executives were the highest-paid category, though with one of the lower figures at $130,000.⁶ Most management positions fell between $70,000 and $110,000.⁶ The lowest-paid of the groups was tax preparers at $33,720.⁶

Occupation Title	BLS.gov Code	2016 Total Employment Arkansas	Mean Hourly Wage Arkansas	Mean Annual Wage Arkansas	National Growth 2016-26
Accountants and Auditors	13-2011	6,660	$32	$66,260	8.0%
Administrative Services Managers	11-3011	1,850	$45	$92,860	9.1%
Advertising and Promotions Managers	11-2011	140	$70	$145,680	5.8%
Architectural and Engineering Managers	11-9041	710	$56	$116,720	7.4%
Budget Analysts	13-2031	670	$26	$54,470	10.4%
Business Operations Specialists	13-1199	6,070	$29	$60,450	10.1%
Chief Executives	11-1011	2,140	$63	$130,630	11.9%
Compensation and Benefits Managers	11-3111	110	$53	$110,000	0.187
Compensation, and Benefits Specialists	13-1141	620	$26	$53,600	5.6%
Compliance Officers	13-1041	2,630	$27	$55,380	5.0%
Construction Managers	11-9021	1,810	$37	$76,480	8.9%
Cost Estimators	13-1051	1,290	$29	$61,290	10.3%
Credit Analysts	13-2041	550	$31	$64,230	11.4%
Credit Counselors	13-2071	60	$19	$38,700	5.5%
Financial Analysts	13-2051	1,200	$35	$73,210	4.9%
Financial Examiners	13-2061	180	$36	$75,640	8.2%
Financial Managers	11-3031	3,840	$48	$100,370	10.6%
General and Operations Managers	11-1021	20,630	$41	$85,390	7.1%
Human Resources Managers	11-3121	920	$48	$100,220	-7.8%
Human Resources Specialists	13-1071	3,430	$27	$56,420	6.9%
Information Systems Managers	11-3021	2,080	$54	$111,410	12.0%
Insurance Underwriters	13-2053	270	$27	$56,340	10.2%
Labor Relations Specialists	13-1075	300	$21	$44,130	8.5%
Loan Officers	13-2072	2,400	$33	$69,300	11.5%
Logisticians	13-1081	1,860	$33	$67,890	22.8%
Management Analysts	13-1111	4,990	$29	$60,930	8.8%
Market Analysts and Marketing Specialists	13-1161	4,510	$33	$69,640	10.0%
Marketing Managers	11-2021	1,540	$71	$147,370	6.5%
Meeting and Event Planners	13-1121	570	$21	$43,830	8.4%
Public Relations and Fundraising Managers	11-2031	350	$48	$100,510	10.8%
Purchasing Managers	11-3061	530	$54	$111,450	-5.2%
Sales Managers	11-2022	2,270	$54	$112,380	9.8%
Tax Examiners and Revenue Agents	13-2081	520	$26	$53,450	13.9%
Tax Preparers	13-2082	720	$16	$33,720	11.5%
Training and Development Managers	11-3131	260	$48	$100,630	-0.6%
Training and Development Specialists	13-1151	2,850	$26	$54,790	10.8%

Other Popular State Pages

References:
1. National Center for Education Statistics: https://nces.ed.gov/
2. AACSB, Best Business Schools:https://bestbizschools.aacsb.edu/aacsb-accredited
3. ACBSP, Business Schools:https://acbsp.org/page/accreditation-overview
4. IACBE, Business Schools: https://iacbe.org/accreditation/
5. US Bureau of Labor Statistics – Occupational Outlook Handbook, Business and Financial Occupations: https://www.bls.gov/ooh/business-and-financial/home.htm
6. US Bureau of Labor Statistics – Employment and Wage Estimates Arkansas: https://www.bls.gov/oes/current/oes_ar.htm
7. US News & World Report, Best Business Schools:https://www.usnews.com/best-graduate-schools/top-business-schools