With multiple career options, finding a good postgraduate program to pursue becomes a challenge. If you have experience with business courses, enrolling in a program that provides the necessary knowledge and skills for the business community, such as an MBA degree, is a good choice.
What is an MBA Degree?
Unlike other general business courses, an online MBA degree focuses on developing the learners’ knowledge and skills that fit careers in the business world. MBA students study several core aspects of business management and decision-making. The coursework includes finance, accounting, economics, business law, management, and marketing.
Students should have between 2 and 5 years of working experience before enrolling in an online MBA degree. The online option has the same rigorous curriculum compared to the physical campus option. However, it also has the benefit of saving on costs. Studying online eliminates the costs of transport, relocation, and childcare. Other benefits of studying an MBA online include[i];
- You can work while learning
- Students can tailor the education schedule to fit their lifestyle
- Provides deeper knowledge in the field
- Short study period
Reasons for Pursuing an Online MBA Degree
Enrolling in an online MBA course has several advantages. Among them, include;
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- Better salary – salaries paid to MBA graduates are higher compared to those without the degree. In short, MBA graduates employed in either private or public sectors earn between $70 and $120 on average. This is almost double the salaries for those with ordinary university degrees.
- Better career options – The MBA program provides a diverse field that students can explore. The coursework covers several programs, including statistics, human resources, economics, finance, and technology and information systems. These enable the graduate to work in various sectors with better opportunities.
- Extensive network – MBA students can leverage from the great networking opportunities while studying. You can interact with other students, teaching staff, professors, and more. This provides students with an easy way of meeting potential employers and business partners.
- Develop better management skills – MBA applicants, who include young businesspersons and senior employees, require management skills to keep their companies successful. The course provides core competencies that help students improve leadership, hire top talents, interpret reports better, and more.
- Great for changing careers – most students taking an online degree in MBA want to advance or change their careers. Approximately one in every three MBA graduates use their management skills gained during the study period to pursue new opportunities. Therefore, you should decide on the job and industry you want to venture into before applying for the course.
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Best Schools Offering Online MBA Programs
Some of the best online schools to study an MBA online include;
1.John Hopkins University
John Hopkins University is a private university offering one of the best online MBA degree programs[ii]. Students not only gain knowledge but also benefit from valuable leadership skills, which are applicable after graduation. The school runs 54-credit coursework, with 30 business credit courses. The cost of an MBA degree ranges from $39,336 to $67,680.
2.University of Southern California
You can also opt to enroll in the University of Southern California for your online MBA degree. The school equips MBA students with core business concepts while covering emerging topics, such as remote work management. Like other institutions, you need a bachelor’s degree from an accredited institution and a minimum of 2 years work experience to enroll in the university. Studying at the university costs $1710 per unit. Therefore, the total cost of the study depends on the number of units taken[iii].
3.Boston University
The school of business from Boston University partnered with some of the largest companies to improve their degrees, including the MBA program. For instance, it collaborated with edX, a leading online technology to provide 100% online learning. MBA students should watch two live video chats lasting between 2 and 3 hours weekly. Since it is purely online, the cost of the study is between $609 and $2860[iv].
Conclusion
An MBA degree is a good option for those looking to boost their salaries, searching for job promotions, or need a large professional network. Among the attractive benefits of studying online include an expanded choice of schools, the ability to customize your study schedule, and diverse networking opportunities. An online MBA degree enables students to earn respected credentials without putting their career on hold. However, with multiple universities offering online programs, search widely before signing up.
[i] “The Benefits Of Online Learning: Advantages Of Online MBA Degrees – The European Business Review”. 2020. The European Business Review. https://www.europeanbusinessreview.com/the-benefits-of-online-learning-advantages-of-online-mba-degrees/.
[ii] “Johns Hopkin MBA Programs (Available Online)”. 2020. Carey.Jhu.Edu. https://carey.jhu.edu/programs/mba-programs.
[iii] “USC Online MBA Program | Marshall School Of Business”. 2020. USC Online MBA. https://onlinemba.marshall.usc.edu/.
[iv] “Online MBA | Questrom School Of Business”. 2020. Bu.Edu. https://www.bu.edu/questrom/degree-programs/online-mba/.