An MBA certifies you as a master in business administration and is one of the most prestigious business degrees that you can have. Having an MBA gives you the opportunity to advance your career and increase your salary.
In 2006, MBA graduates expected an average base salary of $92,360 with an average signing bonus of $17,511. Their undergraduate counterparts who earned a bachelor’s in business administration expected to an average of $40,976 per year, according to College Journal. In terms of salary expectations, an MBA is certainly an asset.
Although the statistics don’t differentiate between starting salaries for those attending traditional brick-and-mortar college and online schools, an MBA is an MBA. If you earn an MBA online at a reputable school, it’s likely that your starting salary will be comparable to that of other MBA graduates.
Cost of Getting an Online MBA
In a March 2006 survey conducted by GetEducated.com, the cost of earning an MBA online ranged from $5,600 to $115,000. With such a wide range in the cost, you can expect online MBA prices to vary from one school to another.
When it comes to online MBAs, higher costs don’t necessarily mean a better education. However, it is some of the most reputable schools that have the highest price tags. The cost at Duke University, for example, is $115,000. As you consider schools, take note of the costs, but also the reputation of the school and the education you’ll be receiving.
Advantages and Disadvantages
There are two options for earning an online MBA – taking advantage of the distance education programs of traditional colleges or attending a cyberspace-only college.
Distance education programs give you the opportunity to earn an MBA from a reputable traditional institution while affording you the flexibility to earn your degree from a remote location.
If you are already in the workforce full-time, the constraints of your job might keep you from attending a school to earn your MBA. Online MBA options allow you to continue to meet the demands of your job and earn your MBA at the same time.
Earning an online MBA takes a significant investment on your part. Not only do you have to pay the cost of attending an online school, you’ll also have to think about the time you have to invest in earning the degree. As you make a decision about earning an online MBA, consider the return you will receive on the investment. Most graduates begin to see tangible benefits of earning their online MBA three to five years after graduation.
When you earn your MBA online versus in a traditional business school, you lose the interaction with professors and other students. It becomes more difficult to build a network with your colleagues. These networks are invaluable, often lasting throughout your career. If you are able to create relationships in the cyber-classroom environment, you can make up for some of the lost interaction.
Choosing an Online MBA School
It’s important to attend a reputable online business school. Since there are so many diploma mills out there, recruiters are rightfully suspicious of MBAs that have been earned through an online school.
Business Week Online reports that there are more fake online MBA programs that there real ones, making it easy for consumers to get scammed and harder for them to land a position using the fake degree as credentials. The website also reports that recruiters are a little tougher on online MBA graduates. They tend to look for strong resumes along with an explanation for attending an online school.
Accreditation is another issue that you must take into account as you consider which online business school you want to attend. Part of your school’s reputation rests on the accreditation agency. Make sure the agency that accredits your school is one that is nationally recognized. The U.S. Department of Education has a list of nationally recognized accreditation agencies.
Do your homework about each online business school that you’re considering. Ask the admissions office for information about the success of their graduates. Do an internet search on the school to see what other people are saying about it.
In the long run, the rewards of getting an online MBA can definitely outweigh the costs. It’s up to you do to the necessary due diligence to make sure you’re choosing the best school for you.
An MBA certifies you as a master in business administration and is one of the most prestigious business degrees that you can have. Having an MBA gives you the opportunity to advance your career and increase your salary. If you are that person who has many duties and no have the possibility to go attend presencial classes, online classes is your option.
Regards
Estela
An MBA certifies you as a master in business administration and is one of the most prestigious business degrees that you can have. Having an MBA gives you the opportunity to advance your career and increase your salary. If you are that person who has many duties and no have the possibility to go attend presencial classes, online classes is your option.
Regards
Estela
As an online MBA student, I think this is a very fair article. What people should realize about MBA programs is that they are a dime a dozen. You have terrible/excellent online MBA programs; and terrible/excellent on-campus MBA programs. The technology is here and to the level where the course delivery really does not matter. What matters is the program design, the expertise of your professors, and the skills you can gain from your coursework.
And of course there is the networking issue. I must admit, the opportunity to network with my MBA peers has been very small. I am enrolled in a program at a state university. We do not utilize a cohort-based model, so my classmates are always changing. So I am losing out big-time on the expected 'MBA network' that people rave about. However, the total cost of my program is only $12,000. And it is fully accredited by the AACSB. My BA is in the liberal arts, so I am basically turning to the MBA to hone and show my skills in regards to business management. With this in consideration, I feel that my MBA program is more than worthwhile.
If you desire an MBA and you are concerned about attending classes at a brick & mortar location, I would strongly suggest looking into online programs. But honestly assess what you are looking to achieve; and what your priorities are. If you are concerned with the 'name brand' of your degree, then steer clear of for-profit options (i.e. University of Phoenix, American Intercontinental, etc.). If you are concerned with the academic rigor of a program, then stick to programs that are AACSB accredited. If you are looking for maximum flexibility and the ability to earn credits for professional experience, then the for-profit options may good a good match for you. But whatever you do, do not expect to experience anything like Harvard School of Business online.
I feel that online MBAs (good students and good programs) are important to creating the modern business environment. But like anything, you must do your research, honestly assess your abilities, and try to make the best decision from there.
Yes, you can pursue your MBA from online . As I am doing my MBA through online & along with doing job. I am doing my MBA from Sikkim Manipal University as it provides edunxt technology to create a virtual classroom where you can interact with the faculty and students and thereby also network with other students
Distance MBA programs are a perfectly fine way of earning an MBA. Online is really a great way for people to attend any school of their choice, considering they get it and all. It allows people on the Mid-West to earn an MBA from a school in the Southwest without having to quit their jobs and or move. Of course the most important thing to look for in an online MBA program is that it’s through an accredited school. Thunderbird would be a great example of an accredited school because they have such a reputable MBA program for both on campus and online.
Getting online degree is right choice but having specialism will add spice to it.