Did you know that as of mid-2022, the number of online MBA students in the U.S. was more than the number of full-time MBA students? This was reported by Forbes, and it clearly suggests that online MBA programs have become increasingly popular in recent years, and for a good reason.
Here are six things that make an online MBA degree worth pursuing.
One of the biggest benefits of an online MBA program is the flexibility it offers. Online MBA students can attend classes and complete coursework on their own schedule, making it a great option for working professionals who want to advance their careers without disrupting their current job or personal life.
Online MBA students can attend class from anywhere and work around their other commitments. This means you can continue to work, take care of your family, or pursue other interests while you earn your MBA.
Another advantage of online MBA programs is that they tend to be more cost-effective than traditional MBA programs. Online MBA programs often have lower tuition costs, and students can save money on expenses such as transportation and housing.
According to the National Center for Education Statistics (NCES), MBA programs cost an average of $19,792 during the 2019-2020 school year. In recent times, the cost has only seemed to increase.
ZDNET reports that colleges across the U.S. are now charging around $36,000 a year for business graduate programs. Thus, for a two-year program, one has to cough up about $72,000.
Compared to this, online MBA programs are much cheaper. These programs cost as little as $10,000, which means you can save a lot of money on tuition fees. Besides, these online programs also offer scholarships through which you can avail discounts and save more money on your MBA.
Additionally, online MBA programs can save you time and money by allowing you to complete your degree without relocating.
#3 Variety of Specializations
Online MBA programs offer a wide range of specializations, from traditional business disciplines like finance and marketing to newer areas like digital business and healthcare management. This allows students to tailor their education to their career goals and interests and to become experts in a specific area of business.
The best online MBA programs will offer traditional MBA programs like financial accounting, corporate finance, international business, supply chain management, human resources management, etc. They will also offer modern programs like business analytics, business strategy, marketing management, business intelligence, etc.
#4 Cutting-Edge Curriculum
An online MBA program curriculum is designed to be current and relevant to the current business environment. This means that students will be learning the latest business theories, practices, and technologies.
Additionally, online MBA programs often integrate real-world case studies, projects, and simulations, which provide students with hands-on experience in solving real-world business problems.
If you’re not sure which program or university to choose, opt for one that offers an AACSB-accredited online MBA. AACSB accreditation means that the business school offering the MBA program has met certain criteria. An AACSB-accredited program ensures that students receive the best experience in terms of learning and research. The accreditation also ensures that the curriculum offered by the institution is one of the best there is when it comes to business schools.
#5 Networking Opportunities
Online MBA students often worry about missing out on the networking opportunities that traditional MBA programs offer. However, many online MBA programs have built-in networking opportunities through virtual class sessions, online forums, and social media groups. These allow students to connect with their peers and professors and to build a network of contacts that can be valuable in their future careers.
#6 Quality of Education
Many online MBA programs are offered by respected and accredited universities, and the quality of education is often comparable to traditional MBA programs. Online MBA programs are designed to be interactive and engaging, and the coursework is often challenging and rigorous. Moreover, the professors in an online MBA program are experienced professionals and experts in their fields.
In conclusion, an online MBA degree is worth pursuing due to its flexibility, cost-effectiveness, variety of specializations, networking opportunities, cutting-edge curriculum, and quality of education.
With an online MBA, you can advance your career without disrupting your current job or personal life, and you can earn a degree from a respected and accredited institution. With the skills and knowledge you gain through an online MBA program, you’ll be well-equipped to take on leadership roles in a variety of industries and excel in your chosen field.