A master’s in business administration (MBA) is one of the best degrees for career advancement, particularly if you hope to secure a top-level position in a business setting. Earning an MBA can offer attractive benefits such as a boost in salary, global networking opportunities, and career advancement.
Many professionals face barriers with traditional MBA courses as they are unable to give up work or have family responsibilities preventing them from attending classes on campus. An online MBA is a great option if you are in this position and cannot dedicate two years to full-time study on-campus.
Online MBA programs offer a wider choice of schools, lower tuition costs, and the flexibility to customize your learning schedule around your existing work and family commitments. You may also have the opportunity to complete an accelerated program and earn your MBA in as little as one year. Here are some other great reasons to enroll in an online MBA:
Sharpen your business skills
An online MBA will enhance your skill set and help you become an expert in your field. MBA programs are designed to teach you the skills and knowledge needed to accelerate in a wide range of business careers. You will learn key business skills such as effective communication, team building, adapting to innovation, and strategic thinking. These skills are essential in various job roles and industries.
MBA coursework covers core aspects of business, including marketing, finance, and business law. You will also have the opportunity to pick a specialism such as international business or human resources. This allows MBA students to study an area of business that they are passionate about and become an expert in their chosen field. Take a look at this article for more information on MBA specialization and how to pick the right program.
Boost your annual salary
An MBA is a highly respected degree that will distinguish you from other professionals in your industry. Earning an MBA can lead to a boost in salary, and many graduates secure top-level roles that offer attractive compensation packages and other job perks. Many MBA graduates transition into senior or managerial positions that offer annual bonuses or shares in the company. This increases their annual take-home salary and improves their financial position.
Postgraduate degree costs are high, and tuition fees are increasing yearly. Paying for an online MBA is not cheap, but surveys suggest that graduates reap significant financial rewards. A recent survey found that MBA graduates earn $36,742 more each year than their coworkers without a degree. In general, an MBA should give a good return on investment and lead to a substantial boost in salary. In most cases, you will be able to cover the costs of your education within a few years thanks to the financial rewards that come with having an MBA degree.
Plan an exciting career change
An online MBA opens doors and gives graduates access to exciting new career opportunities that would be unattainable without a higher degree. According to The Wall Street Journal, “75% of people who earn an MBA switch careers after they graduate.” The survey also found that people with an MBA who switch careers have the potential to double their annual salary.
Switching careers can be a great way to boost your earning potential, advance in your career, and enhance your business skills. A career switch will also allow you to pursue a role that you’re passionate about and increase your job satisfaction and engagement. An online MBA will open up doors to job opportunities in a wide variety of sectors and industries. Having an MBA degree will give you the freedom to follow your passions and plan an exciting career change if you feel unfulfilled in your current role.
Customize your study schedule
Many people are unable to uproot their life or quit their jobs to attend a traditional MBA course. Online MBA programs have made it possible for anyone to earn an MBA degree without having to make big sacrifices to their work or family life. The flexibility of an online MBA means that you can customize your study schedule and work your learning around your existing commitments.
Many students who enroll in an online MBA continue to work full-time and complete coursework in the evenings or at weekends. Studying for an MBA while working is hard work, but it means that you won’t have to put your career on hold while you are earning your degree. It also means that you can continue to earn a steady income while you study and reduce student debt. Distance learning is also an attractive option if you have a family and cannot commit to structured classes and teaching sessions.
With an online course, you can choose when you study and fit your learning around your responsibilities. This flexibility has many advantages, but distance learning requires self-discipline and excellent time management. Some students find it difficult to stay motivated and engaged without the structure of a campus-based program. If you choose to enroll in an online MBA, then keep this in mind and prepare for the challenges of distance learning.
Experts at onlineschoolscenter.com advise that you can develop self-motivation while studying by setting realistic learning goals, keeping a positive attitude, and managing your time wisely. You should also interact with your classmates and professionals regularly and reach out for support if you’re struggling with any aspects of your MBA program. Remember that there is a lot of resources available to support online learners.
Secure your next job promotion
If you feel stuck in your current role and want to move up the career ladder, then enrolling in an online MBA could be the answer. Earning an MBA degree will demonstrate that you have the skills and qualities to excel in senior roles and could help you secure a mid-career pay increase. When you graduate with an MBA, you will gain a competitive edge over your coworkers and will be in a stronger position when promotions are advertised in your company. You can also look for higher positions on offer in other companies and organizations.
Some top-level positions require an MBA, and earning the degree will open up new career possibilities. Many high-up positions in business, finance, and marketing require an MBA degree. For example, most global business managers and finance controllers have an MBA. Even when an MBA is not required, candidates with the degree will typically be favored over those without. Overall, earning an online MBA is one of the most effective ways to advance in your career by securing a promotion with your current employer or looking for new job opportunities elsewhere.
Join a professional network
Professional networking opportunities are one of the key reasons why people decide to enroll in an MBA. Online MBA programs give students access to a global network of business professionals. Networking is key to success in the business world, and you’ve probably heard the popular saying, “It’s not what you know; it’s who you know.” LinkedIn reports that 80% of professionals consider networking vital to career success. Building professional connections will help you move up the corporate ladder and take advantage of new career opportunities.
When you enroll in an online MBA, you will have the opportunity to connect with other students from all over the world. Many of these students will be successful business professionals with several years of experience under their belt. Utilize these connections and focus on building lasting relationships with your peers. You can also interact with your professors, alumni members, and industry leaders throughout your MBA program.
Outside of school, you should focus on building a strong network by attending local networking events to meet business professionals in your area. Social media platforms like LinkedIn can also be a useful tool to expand your network and make personal connections. Another easy way to network is by joining a professional association like the American Management Association (AMA) or the Entrepreneur’s Organization (EO). Becoming a member of a professional business association will help you enhance your resume, gain valuable experience, and strengthen your professional network.
Earn a globally recognized degree
An online MBA is a respected postgraduate degree that is globally recognized. Businesses all across the globe look for graduates with an MBA, and you can look for career opportunities worldwide, not just in your home country. Earning an online MBA will open doors to exciting global job opportunities and allow you to build international experience. This is a huge advantage in the modern business world as many companies favor candidates who have international experience.
Choose a top business school
Another advantage of an online MBA is that you will have a better choice of schools and programs. When you choose distance learning, you won’t be restricted by geographic location. You will have the freedom to consider schools all across the country and the world, without the cost and hassle of relocating. This will allow you to find top business schools and pick an MBA program that suits your needs and preferences.
Several online MBA programs are accredited by leading accrediting bodies such as the Accrediting Council for Continuing Education and Training and the Higher Learning Commission. Many top business schools in the US are introducing online MBA programs alongside campus-based courses. Employers and recruiters recognize the value of online qualifications, and the majority of employers and recruiters regard an online MBA just as highly as a traditional MBA.
Save money on tuition fees
Online MBA programs are generally cheaper than a traditional MBA. This is because online courses have fewer overhead costs, meaning tuition fees are lower. Opting to study for an MBA via distance learning will save you money in other ways besides cheaper tuition fees. You won’t have to drive to classes, pay for gas, or sustain wear and tear to your car. You also won’t have to worry about paying for accommodation on campus or relocating closer to your chosen school. Overall, picking an online MBA over a traditional MBA could save you thousands of dollars and make your postgraduate degree much more affordable.
On top of the immediate cost savings, students attending an online MBA can also reduce debt by working while they study. Remote learning makes it possible to hold down a full-time job while you complete coursework and assessments. Students who are worried about the cost of an MBA education should embrace work opportunities and continue to work while they study. Check out this article by Brazen for tips on how to balance an MBA with a full-time job.
Prepare for entrepreneurship
Many business professionals dream of launching a startup and building a profitable company. Owning a business is the ultimate goal for many people, but managing a company is difficult in the competitive business world. Entrepreneurs must have strong business skills and be prepared to face the challenges of running a business.
Completing an online MBA can help you prepare for entrepreneurship. The skills and knowledge that you learn in the program will help you write a strong business plan and build an efficient and profitable company. Having a higher qualification like an MBA will also elevate the reputation of your brand and make your business appear more authoritative and credible. This will help you attract skilled employees and win over new customers and clients.
Conclusion
An online MBA will allow you to earn a sought-after postgraduate qualification and distinguish yourself from your peers without having to put your career on hold or make big sacrifices in your personal life. There are many great reasons to enroll in an online MBA program, the top ones being skill enhancement, higher salary potential, and career advancement potential.
Having an MBA degree will set you apart from professionals with similar experience and put you in a strong position when top-level positions become available. Graduating from an online MBA program requires hard work, but for many professionals, it’s a worthwhile investment that opens up new career possibilities.
