The rise of the internet has made education more accessible than ever. It means more students can achieve their academic objectives without spending needlessly on traveling and boarding. American students are increasingly pursuing online MBA degrees right now to bolster their earning potential and become more employable in the future. Most working professionals who want to advance their careers but can not afford to quit their current jobs opt for online MBA degrees. Furthermore, you can easily complement your business acumen with an MBA education.
In these scientifically advanced times, because of the increasing demand for accessible education, online MBA programs have gained significant popularity in recent years. In 2020-21, 45,000+ students sought online MBA degrees while fewer than 44,000 were enrolled in full-time, traditional programs. Whether you’re looking to boost your career prospects or want to switch to another field, here are a few compelling reasons to seek your business administration degree online.
In this article, we shall cover ten reasons why online MBA degrees are right for modern-day students:
Distance learning programs are popular among students for their accessibility. There’s no need for a student to worry about traveling and boarding anymore; online programs now let them further their education anytime and anywhere. You can easily pursue these asynchronous MBA programs online from a reliable institution and study at your convenience. These programs are asynchronous, meaning there’s no fixed time to be online. You can pursue your studies whenever you feel convenient and choose any concentration you prefer. For instance, online MBA programs offer concentrations in accounting, marketing, cybersecurity, HR management, and even sports administration today.
There’s nothing more liberating for students than a chance to study at their pace. Online MBA students find balancing work and family life easier with their studies. Maybe, you wish to pursue an internship while advancing your business expertise. An online MBA program lets you seek part-time or even full-time jobs while you continue your education digitally.
3. Short durations
Unlike traditional business administration classes, online MBA degrees don’t take a lot of your time. So, you can enroll today and finish your online education in a year! These short durations will attract students who wish to bolster their education as early as possible and become eligible for a career in the business industry ASAP. Online programs take less of your time because you study at your pace. Your tutor provides you with study materials, and you’re responsible for your academic progress.
4. No GMAT required
With most online MBA programs giving up GMAT requirements, it’s time to apply for your business administration degree. Many educational institutes don’t require students to pass entry exams such as GRE or GMAT. Since 87% of students fail to get good scores in GMAT exams, many students seek admissions to business schools where no GMAT is required. Hence, they can pursue an online MBA easily!
Don’t believe anyone claiming MBAs are dying out; statistics will tell a different story. An online survey shows that almost 70% of MBA grads were poached by recruiters in 2021. Also, nearly one-third of employers value online MBAs the same as in-person business administration graduates. With more than 90% of business companies in the United States aiming to recruit MBAs, pursuing an online MBA degree should be on your to-do list, particularly if you’re juggling work with studies.
Pursuing your MBA online can be a more cost-effective solution than attending in-person classes. Surveys show that online MBA programs are often 25% cheaper than traditional MBA degrees. It’s a no-brainer that online MBA degrees are more affordable for students because of no commuting or boarding expenses. MBAs are some of the most expensive degrees, and decent programs may cost you anywhere from $30,000 to $120,000. A recently-published Forbes article claims that a business administration degree costs over $60,000 on average. Online MBA programs, however, will cost you $10,000 to $20,000. That’s why many students prefer investing in online MBAs.
7. Networking opportunities
Online MBA programs offer more diversity and inclusivity than in-person classes. While pursuing any MBA program remotely, you get to meet people from different parts of the world. That’s how you can amass a diverse range of information about business administration and create global connections. Online MBA programs often offer students diverse perspectives, global case studies, and networking opportunities that prepare them to work in global organizations and pursue worldwide career paths after graduating in 2023.
8. International opportunities
An online MBA degree opens up international career advancement avenues for you. With an online MBA degree, you will become much sought-after in international marketplaces with better salaries. As in-demand candidates worldwide, online MBA grads have universal employment opportunities thanks to the global nature of business in today’s interconnected world. Online MBA students have international networking opportunities and can easily prepare themselves to apply for remote jobs, thanks to their deeper familiarity with non-American marketplaces.
9. Lucrative salaries
It’s estimated that MBA grads make 75% more than those with just a bachelor’s degree. What about online MBA grads, though? Well, a survey from 2017 indicates that students earning their degrees in business administration online earned almost $97,000! These lucrative compensation packages will surely entice more students to pursue their MBA degrees online. With more experience as an MBA grad, you can see a significant increase in earning potential and make over $100,000 annually.
10. Entrepreneurship options
Many small-time business owners pursue MBA degrees to hone their business management skills. A successful entrepreneur shouldn’t neglect the importance of studying business administration since average startups are likely to fail within the first year. However, gaining your MBA degree will boost your business acumen and help you run a business successfully. Since you’ve already established a small business or thinking about starting one, seeking an MBA online will leave you with enough time to focus on work as well. That’s why many young entrepreneurs today prefer online MBA education. They can juggle work and studies simultaneously and enhance their business skills in just one year.
In conclusion, some compelling reasons you should consider pursuing online MBA programs include flexibility, accessibility, and opportunities for career advancement. With the advancement of technology and the changing landscape of education, pursuing an MBA online can be a practical option for students seeking to advance academically and professionally in today’s fast-paced world.
Also Read: What are the different fields within an MBA?