If you are contemplating earning an online MBA, it is important that you assess the worth of the degree before you pay the tuition costs. A Master of Business Administration is a worthwhile degree if you are a business professional or if you are pursuing a position at a management level. Since the programs focus more on teaching students to be well-rounded business leaders than specialists, it is critical that you compare technical degrees and professional degrees so that you choose the best program to suit your career goals. Read this guide and learn whether or not the online MBA is good for you.
How is an Online Master of Business Administration Degree Perceived?
One of your first concerns might be how an MBA earned online might be perceived by executives and hiring managers. While some worry that an online degree will hold them back, in most environments the same value is placed on an online degree as the value that is placed on a traditional degree. As long as you attend an institution that holds students to the same admissions standards and grading standards, you should not be held back because you selected distance education.
Why is Accreditation Important?
Be sure that you focus on choosing accredited online business school before doing anything else. You should be careful as to what accreditation agencies that you trust. One reputable agency that is known for creating MBA curriculum and overseeing program is the Association to Advance Collegiate Schools of Business International. After looking into accreditation status, narrow down the options to schools that are selective in their admissions process. If you have a degree from a selective online school with an AACSB accreditation, the degree will be much more valuable to employers and other schools.
Resource: Top 10 Best Online MBA Programs
Considering the Cost of Earning Your MBA
There is no denying the fact that the cost of higher education has risen over the past few years. While this is to be expected, some programs’ costs have risen more than others. The cost of an online degree will vary based on where you are attending school. Some schools advertise that students can spend just $7000 earning a degree, but these price tags may be too good to be true. You will need to compare the actual costs of attending reputable schools that you have researched to really budget cost. After you have pinpointed how much you will spend on school, you can then weigh costs with benefits.
Future Earning Potential with Your MBA
You can only really decide if an online degree is worth it by determining how much you will earn as an MBA graduate. The statistics show that graduates with less that 1 year of business experience will earn a national average of $50,453. If you have between one and four years of experience, you can expect to earn $58,092 and having between 10 and 19 years of experience can land you a $98,252 salary per year. If you look at your pre-MBA salary, you can see how long it will take for you to make back what you spent to earn the degree.
Earning your degree online comes with its advantages. You can work while you are studying, choose your own schedule, and even avoid the extra commute to school. Be sure that you consider these advantages when you are comparing traditional and online programs. If you can study at your own pace, the online MBA might be best for you.
