Earning a Master of Business Administration degree has traditionally been the best way to climb the corporate ladder. If you want to advance your career within your company or seek a higher position at another company, having an MBA can set you on this track. However, until recently, gaining the necessary work experience and attending business school was a real struggle for students. Traditional MBA program students had to leave the workforce to attend school full time or burn themselves out trying to make time for school and work.
Today, getting an MBA and working has never been easier. Online MBA programs have made it easier than ever for students to get an advanced degree while pursuing their careers. As a result, online MBA programs are more popular than ever and have experienced a major application spike. Offering flexibility, affordability, and real-world application, an online MBA program gives students more options and better solutions to achieving their career goals.
Not only do online MBA programs offer the same rigor and insight as their on-campus counterparts, but in many instances, they might even be a better choice. Today there are numerous programs offered all across the country, and an Ohio online MBA, for instance, provides all of the benefits of a traditional program with fewer inconveniences. Let’s examine why these online degree programs have become so popular.
For many MBA students, the greatest benefit of earning an online degree is flexibility. Many students who pursue an online MBA are working adults seeking to advance in their already established careers. These adults usually have families and other responsibilities that make walking away from their jobs impossible. The traditional MBA program student usually has to leave work for around two years. A two-year hiatus for a working adult could mean sacrificing an average salary of around $60,000 or more per year.
The admissions process and requirements for a traditional MBA degree include applications, letters of recommendation, and entrance exams such as the GMAT. Online MBA programs still have some of the same requirements, such as having an undergraduate degree. However, they often wave the requirements of a GMAT and letter of recommendation.
Online programs give students the ability to complete coursework while also working. Most programs in Ohio and other places allow students the flexibility of time. This means that classes can be taken full-time or on a part-time schedule to accommodate other responsibilities. Additionally, students could have up to six years to finish their online MBA rather than just the one or two years of a traditional degree.
The tuition cost of a traditional degree can cost over $100,000 at some private schools. Online MBA programs are typically a more affordable option. Online programs don’t come with the same costs as attending traditional classes in a brick-and-mortar institution. Additionally, as it is possible to adjust credit hours and class load, it is easier to take classes based on your financial situation. Online MBA programs can cost as little as $5,000 to $10,000 per year. Applicants for these MBA degree programs can also qualify for the same financial assistance as traditional students.
As discussed, many online MBA students continue to pursue their careers while also taking classes. With a traditional degree from business school, students learn theories and processes but must wait until an internship or graduation to apply coursework knowledge. Those seeking an online MBA have the benefit of applying what they are learning to their work immediately. A student in a program for an online MBA has the benefit of real-world application and access.
The demand for online MBA programs has sharply increased in recent years. Offering flexibility, affordability, and real-world application, online MBA programs offer access to the same professors, knowledge, and accreditation as traditional degrees. Online MBA programs allow students to work and take care of other obligations while also getting an education and advancing career goals.