For the very first time, The Princeton Review, a respected test preparatory organization, has released its rankings of the world’s best online MBA programs.

Among the 25 schools that were mentioned in the online rankings are Syracuse University’s Whitman School of Management, James Madison University’s Business School, Hough Graduate School of Business, Beacom School of Business and George Washington University School of Business.

To be considered, the business schools had to deliver at least 75 percent of their MBA programs online.

Criteria that the business schools were ranked on were academics, student selectivity and technical platforms used to deliver business programs.

Additional criteria the schools were ranked on were career outcomes and faculty. And the top ranked online MBA programs are:

UNC Kenan-Flagler #1

The University of North Carolina at Chapel Hill’s Kenan-Flagler Business Schoolearned the top spot. Top placement industries for Kenan-Flagler are financial services, consulting, retail and consumer goods, real estate and technology, according to The Princeton Review. Average GMAT is 690. Length of the online MBA program ranges from 18 to 36 months.

Concentrations are corporate finance, global supply chain management, entrepreneurship, marketing, investment management and sustainable enterprise.

Five dual degrees are offered, including a JD, Master of Health Administration, Master of Regional Planning, Master of Science in Public Health and the Master of Science in Information Systems.

At $96,775, Kenan-Flagler’s online business school tuition is lower than the classroom program. Cost of the full-time classroom program is $111,092.

Top 5 Online Business Schools

Following are the top five online graduate business schools in 2015 according to The Princeton Review.

University of North Carolina’s Kenan-Flagler Business School

Kenan-Flagler Business School’s online program can be completed within 18 to 36 months. Global immersion trips are built into the program.

Dual degrees and six concentrations are available. More information about the Kenan-Flagler Business School is detailed at the beginning of this article.

Indiana University’s Kelley School of Business

One of the largest numbers of online graduate business school programs is offered at Kelley School of Business. Top placement industries are manufacturing, consulting and healthcare.

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It takes 24 months to complete the online programs that range from the online MBA, online international MBA for Cummins, online MBA for Ingersoll Rand and the online MBA for General Motors.

Dual degrees take between 24 and 36 months to complete. Tuition is $59,925.

IE Business School

As one of the world’s top business schools, IE School of Business is respected for its focus on innovation. Top placement industries are financial services, retail and consumer goods and consulting.

It takes 15 months to graduate from the school’s online MBA program. Cost of tuition is 43,200 EUR.

Arizona State University’s W.P. Carey School of Business

Intakes for W.P. Carey School of Business are January and August. Concentrations available through the online program are international business, finance, marketing and supply chain management.

The program that takes 21 months to complete;the cost of tuition is $62,000.

Temple University’s Fox School of Business and Management

Built into Fox School of Business and Management’s online program is a one week residency session. Industries with top placements are insurance and financial services. Tuition is $62,208; the time commitment required to graduate is 22 months.

Your Turn

Options to gain a graduate education at the world’s top business schools, combined with the need for flexibility so students can manage busy work schedules, are driving more schools to devise online MBA programs.

Like classroom based MBAs, online programs are extremely competitive. It is critical that you know what to expect and how to prepare for the admissions process to get into these top online MBA programs.

If you’re serious about earning your graduate degree, find out what you need to do to prepare for business school to improve your chances of getting into the world’s best online MBA programs.