Today, the Masters of Business Administration (MBA) is one of the most respected business qualifications in the world.
Statistics show that those graduating from college with an MBA are more likely to find employment soon after, and even better – MBA graduates also tend to earn bigger salaries than those with other business qualifications.
So, there are many reasons why you might be thinking about studying for an MBA.
Maybe you’re pursuing a lucrative future career in the business field, or perhaps you dream of becoming an entrepreneur and starting your own successful brand in the future. Gaining an MBA qualification is a great way to ensure that you have the necessary foundations and more to achieve your career goal.
When it comes to studying for your MBA, there are several options available for you to choose from. The traditional route includes studying at a recognized institution and taking on-campus classes and lectures, or alternatively you could pursue the increasingly popular route of studying for your degree online. Online study has a wide range of benefits that you simply can’t find when you take the traditional route, giving you more freedom to work and fit your studies around any other commitments that you have.
Are you unsure as to which route to take when it comes to getting your MBA? We’ve listed some of the best reasons to choose online study.
#1. Pro: Study at a Top Ranked Institution:
Unlike when it was first introduced around a decade ago, online study no longer consists of a handful of degree options from a bunch of online-only colleges that nobody’s ever heard of.
As online study has grown massively in popularity amongst students, colleges and universities have taken advantage of the growing demand for distance learning options. Amongst them are some of the best-rated universities and business schools in the world, who are now offering students the option to study for an MBA with them from the comfort of their own home.
Getting an online MBA has many benefits, but the option to gain your qualification from a respected business institution is most definitely one of the best. Even if you live in an entirely different state, or perhaps another country, you can benefit from studying at some of the best business schools in the world.
#2. Pro: Make Big Financial Savings:
With the cost of tuition fees constantly on the rise, it’s no surprise that many students are put off from getting their MBA simply due to the sheer cost of doing so. Whilst the good news is that studying for an MBA can be a worthwhile investment due to the high caliber of jobs available for MBA graduates, signing up to hundreds of thousands of dollars’ worth of student loans can still be a very daunting experience.
On the other hand, studying for a top ranked online MBA program can be one of the best ways to save money when investing in your future, without compromising on the quality of education that you will receive. Due to the lower costs associated with teaching students who are on online programs, colleges and business schools are often able to offer online degree programs at a fraction of the on-campus price.
In general, you can find online MBA programs that cost at least one-third of the price you’d pay studying on-campus, enabling you to save thousands of dollars on your future career. The best part is that studying online won’t change the type of jobs that you’ll be eligible for upon graduation, allowing you to earn an even higher return on your investment.
#3. Pro: Enjoy Flexible Learning:
Studying is a massive commitment; not just when it comes to your finances, but also of your time, dedication and effort. Often, students feel like taking a graduate program means putting their career plans and even their life on hold in order to make sure that they are able to attend daily lectures and be on campus for most of the day.
In the past, this was bad news for older students returning to education in order to gain their MBA. Years ago, if you needed to study whilst holding down a full-time job, running your own business or even raising your family, you’d need to make massive sacrifices that would make life even more difficult for you throughout the process.
Today, one of the many online MBA benefits that students can take advantage of is the option for flexible, self-led learning that can be fit around almost every commitment that you need to uphold. If you’re running your own business or working in a full-time career, studying online allows you to earn as you learn, eliminating any worry of financial struggles as you improve your career outlook. If you’re a parent of children, studying online means that you can fit your studies around school runs and family times, with no need to worry about missing out on all those important special moments.
#4. Con: It’s a Massive Responsibility:
Studying online isn’t for everybody, purely due to the sheer amount of self-motivation that you’ll need to have to make sure that you achieve the results that you need. Before you begin, make sure that getting an MBA is something that you really want; otherwise, you could lose motivation quickly.
In addition, you’ll need to be prepared to consistently review your approach to studying to make sure that you are getting the most from your investment. Since you will not have access to professors and tutors in person, it’s down to you to make sure that you are prepared to pro-actively get in touch when help is needed.
It’ll be your responsibility to take control of your workload by coming up with a timetable that works for you, make sure that you’re well-prepared for any assignments and exams, and actively looking for ways to improve your journey. Be brutally honest with yourself before you make the decision. Are you ready for such a large amount of responsibility and work?
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#5. Con: Less In-Person Networking Opportunities:
Lastly, another downside to studying for your MBA degree online is that you’ll be afforded less access to in-person networking opportunities. Although there’s nothing stopping you from signing up to attend networking events in your area, or getting in touch with influential businesspeople online via social media, you won’t be attending classes and lectures on a daily basis, which is where many on-campus MBA students make the most of networking opportunities.
However, don’t let this put you off from studying for your MBA online as the advantages well outweigh the disadvantages. There are several things that you can do to pro-actively increase the amount of networking that you do and the business professionals, investors and mentors that you meet with and ask for advice. Social media groups may be set up by your business school to make it easier to network with people who can help, and you may get exclusive access to meet-ups and networking events arranged for both students and faculty staff.
Studying for your MBA online has a number of advantages and disadvantages to be aware of before you sign up. Studying online is the best way to reap all the benefits of getting an MBA without the high price tag or large time commitment.
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