Online education is here to stay for a while, especially in business schools. As per the Online Education Trends report in 2021, around 95% of online students advised others to pursue their higher education online. Approximately 93% of online learners witnessed a positive return on their investment in their online degrees.
Business students today have various courses and degree programs to enroll in, like a Master of Business Administration (MBA). This course advances their business knowledge, facilitates their business launch, and serves as a springboard for a higher position at an existing employer.
Learners often choose to get an MBA online due to the accessibility, convenience, and career advancement opportunities of online classes. Here are six compelling reasons that justify this choice:
1. Flexibility
An online MBA allows you space to juggle your work and family commitments alongside your higher education. Online MBA schedules are highly adaptable to the complex schedules of students, who usually work in various industries simultaneously, and offer a combination of synchronous and asynchronous learning. Students can choose their classes’ timings, assignments’ and project deadlines.
Your studies could prepare you to think innovatively and help fix problems more effectively at work or even launch your own business. Flexibility to pursue practical corporate or business experience alongside your MBA in an online education model puts you far ahead of your peers in a traditional MBA, as you can become a problem solver at your workplace.
An online MBA program’s virtual interface allows students to study at their speed and with recognizable advanced technologies. You can use a smartphone or tablet for always-on learning since online MBA coursework is accessible on any device.
2. Cost Effective
Tuition costs are one of the primary concerns for most ambitious students. Online MBAs are significantly cheaper than physical MBAs and offer the same knowledge. It is relatively easy to find an accredited online MBA program for as little as $5,000 to $10,000 a year. You can change the number of credits you take each semester in your online MBA program, depending on how much you can afford to pay in that semester and how long it takes you to finish it. Online MBAs also allow you to work simultaneously, which enables you to earn and pay the fees yourself.
You may also qualify for specific scholarships from your college or any third-party funding. If you are pursuing your executive MBA online alongside your day job, your current employer may also pitch in some funding for your fees.
3. Introduction to Innovative Technologies
Depending on your program, you may be required to use online platforms like ANGEL and Adobe, which make your online learning more dynamic and interactive. They require you to constantly interact with and use modern-day technologies, giving you skills that can benefit you throughout your career. Online learning may also push you to self-learn about some platforms or tools, which can take you out of your comfort zone of the traditional learning experience.
4. Access to Mentorship
Online MBA programs allow students to receive one-on-one time with professors due to their relatively small class size. As an online MBA allows you enough free time to reach out to your professors or guidance counselors, you have better access to mentorship. Most professors will have their free slots listed on your university website or portals; utilize them to receive personalized advice from professors to improve your class performance.
If you are working alongside your online MBA or running a business already, some online MBA schools provide resources like career mentorship with alums who can guide you with your career trajectory or advice for your business growth.
5. More Specialization Options
There are numerous specializations available to prospective MBA students today. This includes general management, international business, marketing, and human resource management, among the most common courses. According to the United States Bureau of Labor Statistics, in 2020, Managers in Information Systems, a common choice for MBA graduates, made an average annual salary of $151,150, financial executives earned $134,180, and marketing managers earned $142,170.
While all majors MBA make a decent salary, picking one can get overwhelming. Some students may want to specialize in more than one department, and an Online MBA is suitable for such students. Most online MBA programs will allow you the flexibility to double-major and complete your degree at your own pace. Students become more appealing to recruiters and potential employers if they have diversified skill sets in several different business sectors. The flexibility and cost-effectiveness of an online program make this diversification easier.
6. Network
As the saying goes, your network is your net worth. Most online MBA programs are verified by a significant accrediting body, like the renowned Association to Advance Collegiate Schools of Business (AACSB). They have students across the globe enrolled in them, making them much more diverse than in-person programs.
The AACSB-accredited degree will make you stand out, but you will get to connect with a diverse student body from several states and countries in your online classes. This can help you build your network beyond borders.
You can join social media pages made by the existing student body or the alums of your online program and use such platforms to connect with your fellow students. You can also go a step further and create smaller online groups based on interests and profession and provide a space for the diverse student body to engage online and learn from one another. These online groups will help you become aware of any job openings and get recommendations from alumni worldwide on job search or other career interests.
If you plan to start your own business after your MBA, enrolling in an online program will help you make connections that can take your business internationally or start in international markets.
Endnote
MBA is a lucrative degree in business education, and most young professionals benefit from it as it enables them to climb up the corporate ladder. Enrolling in an MBA may seem intimidating, especially if you plan to work alongside or have other family commitments. In these situations, consider an online MBA. It allows you the flexibility of schedules, affordability, access to modern technology, and various options for specialization. You can efficiently work alongside your online MBA as you can set your schedule and accelerate your career growth alongside education. Consider choosing an accredited online MBA program to ensure your investment in your education pays yields high returns.
