Albert, Is Getting An Online MBA Worth It?
Several professionals consider getting an MBA when they want to advance in their careers. Getting an MBA no doubt gives you a confidence boost and makes clear your dedication to improving yourself, a quality a lot of employers are on the lookout for. Getting an MBA has numerous benefits. It puts you in contact with a lot of other professionals, enl
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An MBA also helps you develop your communication skills, both verbal and nonverbal. A job seeker with an MBA automatically gets considered for higher, better paying job positions. Getting an MBA is no doubt an investment that is completely worth it. You may however be unable to enroll for a full-time MBA degree program due to various reasons. You may have a job you can’t leave or your choice area of specialization may not be available in any of the colleges near you. Whatever your reason, it may have made you consider getting an online MBA instead of an on-campus one. Read on to discover if it’s worth it to earn your MBA online.
Benefits of an online MBA
1. It is flexible
An online MBA offers great flexibility. You have the choice of going fast or slow and can also choose your times of study. This is important for people who have jobs, families or other responsibility to take care of. This flexibility is especially great for employees who have received funds for their MBA program from their employees.
2. It helps you save money
Online MBA degree programs are generally cheaper than traditional on-campus programs. In your search for a school to do your MBA, you can also filter based on affordability even if the school isn’t in your locality since you don’t have to travel to complete the program.
3. You do not need to relocate
When choosing a college for your online MBA, distance isn’t a barrier. You do not have to settle for less because a better option will mean relocating. An online MBA helps you to keep your job and continue living with your family.
4. You’ll be able to access the best courses
Some specialized courses may not be available in colleges near you. With an online MBA program, you can pick the best courses for yourself no matter your location.
5. Great return on investment
An MBA helps you to qualify for better, higher paying positions. It can earn you promotions at work and the networking opportunities it presents are priceless. An MBA graduate can expect an average yearly pay of $110,000 dollars.
Reasons to consider an online MBA
1. Career advancement
An MBA can help you advance fast in your career, even more so than gathering professional experience. A lot of people who enroll for online MBA programs do so to advance their career.
2. Career change
The business skills developed during an MBA means you can work in a lot of different sectors. Employers in different sectors are on the lookout for professionals with advanced business skills. An MBA degree gives you that edge that makes you more employable.
3. To increase your salary potential
Earning an MBA degree is almost guaranteed to increase your earning potential by at least 50%. This increase in earnings only increases over time and can be up by up to 80% after 5 years of earning your degree.
4. Professional goals
You will need an MBA in order to pursue some career paths. Earning an MBA is compulsory for you to advance on these career paths. A managerial role in a company may also require an MBA or other business degree. If your career goals are to advance to such positions, you have to get a business degree.
5. To get an edge in the employment market
An MBA automatically increases your appeal on the job market. An MBA makes you stand out even if the job doesn’t require one. The skills you have acquired during your MBA program make you an asset that a lot of companies will want to gobble up.
How much does an online MBA cost
An MBA program’s cost spans a wide range depending on the school. It can be as cheap as $21,000 or as expensive as $120,000 for the full program. Compared to a full-time MBA program, some schools charge very similar prices while others charge prices that are up to 50% lower. The fact that you can continue working while you do you online MBA is also something to consider when calculating the cost. It is also possible to get your employer to subsidize your MBA program. Make sure to find out if this is possible while considering your options. While online MBA students are less likely to receive scholarships and fundings in the US, it doesn’t hurt to apply for scholarships in a bid to lessen the financial burden.
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