If you are considering a MBA program online, you may be introduced into the theory of business management from an introductory perspective before quickly moving into advanced studies. Since this is a graduate-level program, universities focus on the need for expanding knowledge into the field of business in subjects such as management, leadership, accounting, and human resources.
Online MBA Concentrations
Most MBA programs also offer the students the option to choose a concentration, which can further educate students on specific sectors of the business field. While most entrants into this program have extensive training in business principles, students that are coming from different undergraduate degrees may have limited insight into general business practices.
Students that enroll in this program may be from undergraduate business programs or from other business-related degree programs such as accounting, marketing, or logistics. The skills required to succeed in this degree program include strong analytical skills, problem-solving abilities, and determination.
Business itself is a highly diverse field that requires students to envelop various topics in a way that promotes advancement in knowledge. Application of management techniques, strategy, and planning are also taught throughout the MBA program. MBA programs encourage the use of hands on training to help students grasp theories and ideas about promoting employee morale, creating new and innovative products, and setting up an environment that is suitable for productivity.
Using interactive tools, group work, and program design activities, students will be tested on their knowledge of these various principles in a classroom setting. The MBA program does more for students than just teach the required curriculum and provide testing and assignments that are relevant to it. The MBA program allows students to take initiative and display their knowledge of the subjects through class presentations, speeches, marketing experiments, and more. Through this innovative educational program, leaders in business are molded and prepared for exceptional careers in the field.
Why an Online MBA?
Over time, business has grown to one of the most time-consuming professions of all time. Professionals within this field often find themselves dedicating a large portion of their time to work and the people around them that are involved with it.
Myriad of Online College Options
With this being said, it is hard to assume that business professionals have the extra time and balance to include an educational program into the mix. Busy business professionals that desire higher education have ran into a wall when seeking higher education in the past. With most MBA programs being offered on campus in previous years, people that were currently employed had no option for taking advantage of these excellent degree programs.
In the past, MBA graduates were few and far between in the business realm, unless students obtained their degree immediately after undergraduate education and prior to accepting a position of employment. Most people that have careers have found it difficult to arrange a specific time of day to attend classes or may have too many responsibilities to go to college at night. It is not only busy professionals that found further education to be unattainable – plenty of adults had found themselves bogged down by daily responsibilities or families that claimed the majority of their time.
Families with young children often find it difficult to add more responsibility to their lives, due to the hectic nature of their current setting. Online MBA programs are a great option for busy working professionals, upcoming students, or adults that simply do not have the time or energy available to attend on-campus classes.
Many Online MBA Programs Are Designed for Working Professionals
Online MBA programs have been designed specifically to accommodate a wide variety of students and professionals. The availability of online degrees has allowed people from all walks of life to become involved with higher education. If you are a busy professional that has been looking for change, there is no better time than now to pursue a graduate degree in business online.
Online programs have flexible formats that allow students to review course literature, submit homework, take tests, or take part in classroom discussions at their own pace. Online instructors can be contacted via course room email or virtual discussion boards, making contact more convenient then ever before.
Reliability of the Program
The reliability of online degree programs is comparable to traditional MBA programs. The regulations set forth for online degree programs are the same that are required for standard in-person programs. The community aspect of online MBA programs is another great reason for applicants to consider these programs. Within classrooms, students are encouraged to share their concerns, opinions, and views of subject matter, while adhering to guidelines that protect the integrity of others.
Students are under encouragement to provide support to one another through the online course room, which is great for students that are having difficulties or just have simple questions about assignments. If you desire a fast-faced online degree program that is suitable for nearly any schedule, than online MBA programs are definitely an option to consider. More people are considering the use of online degree programs for promotional purposes, furthering expertise, and even pursuing entirely different careers. Having advanced education in business can potentially lead to careers that were once unattainable.
Benefits of Online MBA
Since you have been introduced into the education advantages of taking part in an online MBA program, you should now focus on the professional advantages that may be obtained from enrolling and completing an online MBA.
Increase Career Options
Choosing a degree program that can better prepare you for a career working in business is a top priority for upcoming MBA earners. Due to the changing nature of this career field, more innovative online degree programs are being developed and introduced for new students. Professional advantages of an online degree can range from pre-professional experience, degree acceptance among employers, and promotional advancement. Aside from the standard convenience of time management, online MBA programs have a multitude of benefits that are offered to learners.
Flexible Online Learning Environment
The environment of online platforms is encouraging to future business professionals that may be responsible for active technological engagement. Using online tools for homework and research can be a positive attribute of online degree programs, as well as a great experience tool for upcoming business professionals. Online research, networking, and assignment completion not only allows learners to take advantage of the convenience of online learning, but also introduces learners to new and technological advanced methods of gaining and sharing information with peers.
Continuity with Software and Technology Stacks
The use of technology in business is widespread, so the more comfortable you are using these tools, the better off you are likely to be in the long run. The quality of the online MBA program is proven to be equal to traditional degree programs as well, which has been a main concern of online degree programs since their introduction.
Mixed In-Person and Off-Site Communication
Professors of business often split their time between traditional in-person classes and online classes, making the curriculum and methods practically the same for both. Employers have also become more accustomed to seeing online MBA degrees, making them more familiar and accepted in the professional environment. Not only does the online MBA offer benefits in quality and experience, but it can also be a money-saving option if you are comparing it to traditional degree programs. Online programs can be attended from home, which nullifies the needs for travel expenses, food, and shelter while away at college. The ability to continue working also contributes in this fashion, which is a necessity for a lot of busy working professionals.
Who is the Online MBA for?
The MBA program provided by online universities does not cater to one specific group over another, however many working professionals that desire a leadership position in the corporate or business world tend to gravitate towards an Online MBA.
The online MBA program is designed for anyone with the desire to pursue a higher degree in business. Busy working professionals that have found themselves at a stopping point in their career may find it necessary to move forward into a flexible online MBA program to set themselves apart from others when promotions arise.
The online MBA provides benefits that go beyond traditional education programs. People that seek degree programs that can help with advancing their career and bettering their financial future find that online MBA programs are both inviting and inspiring to their drive for success. If you are questioning whether or not this type of program is right for you, you should consider the benefits of this program and how they can influence your personal goals.
New undergraduates that are anxious to get their foot in the door may enroll in online MBA programs to complement work experience during their path to business success. This innovative online degree program is not limited to business professionals, though. Undergraduate earners in related fields may also enroll in online MBA programs to assist with leadership skills, management abilities, or even financial capabilities.
Family Men and Women
The flexible format of the online MBA program is also a great fit for professionals that have started families and do not wish to pull away from important family time or for single people that simple desire a more flexible schedule for recreational reasons. The interesting aspect of this online program is that it works great for people from all backgrounds that have a wide range of non-educational responsibilities. Online MBA programs have opened the door of possibility for all people through their helpful and flexible educational programs.
What Accreditation Factors Should I Know About MBA Programs Online?
If you do a simple internet search, you are sure to find hundreds of online degree programs claiming to have the right degree program for you.
This can be a very overwhelming experience that can leave you confused as to which university to pick. One of the most important aspects of a degree program to consider when making your choice is the quality of the specific degree program. Business programs should cater to specific regulations and requirements, so that you are gaining the right information that is relevant to your field.
In order to gauge the quality of these degree programs, organizations are employed to review, modify, and accept educational programs that claim to have relevant business-related degree programs. As with any higher education degree, accreditation is the leading source of reliability and relevance for degree programs. If you are considering different online MBA programs, you should research the accreditation for each to assist with making your decision.
Accreditation is necessary due to the large number of for-profit universities that offer degree programs that have not been approved by the proper educational accreditation agency. These potentially false degrees may not be accepted by potential employers or state agencies that require licensure or registration. The type of accreditation is also important to decipher among online degree programs. The 2 most common elements of accreditation noticed during research are regional and program accreditation.
Association of Advanced Collegiate Schools of Business
For business educational programs, the Association of Advanced Collegiate Schools of Business (AACSB) is the leading resource for accreditation. The AACSB provides the assurance that degree programs are teaching an approved curriculum that consists of relevant information and approved subject matter. Organizations such as the AACSB dedicate their work to approving only universities with the highest standards of excellence in business education. If you notice that a university is accredited by this organization, it is definitely a university you can rely on for a great education.
Some universities offer regional accreditation, which typically rates the school as a whole, but says nothing about individual program approval. Program accreditation is going to be specific to each individual degree program provided by the school and will ensure that each program fits the national standards for the subject.
What Are the Entry Requirements for Typical Online MBA Programs?
The university that you choose for your MBA may have varying requirements for entry. Our researchers have reviewed some of the top universities offering the online MBA to determine some commonly found requirements for new applicants.
The most often reported requirement is graduation from an accredited bachelors degree program in business or related field. This is to ensure that students have received adequate training that will contribute to further knowledge during the masters program. Students are also required to provide transcripts as well as proof of GPA from prior educational institutions.
The minimum GPA requirement begins at 3.0 for some programs, but can be higher for some universities.
GMAT or GRE
The GMAT or GRE requirement also varies by schools. One university requires a minimum score of 600 on the GMAT, while another school has no GMAT requirement but a higher GPA requirement. The same goes for work experience – some universities require that students have 3-5 years of professional work experience for entry, but others may substitute GMAT scores or a high GPA for acceptance.
Letters of Recommendation
In addition to the educational requirements, our experts have found that some online MBA programs expect students to go the extra mile to prove their worth within online MBA programs. Some students may be required to obtain professional references or recommendations prior to being accepted into the program.
Since applications rates are high for online MBA programs, universities often use outside resources and references to determine if you are well qualified for their degree programs. Professional references may be obtained by a current employer or even from previous professors in undergraduate education.
Screening interviews may also be used by universities on rare occasions. These interviews will sometimes consist of questions regarding future plans, people that have inspired you to pursue a degree in business, and personal strengths and weaknesses – similar to what would be asked during a job interview. If you have applied to an online MBA program, you may also be called for a virtual or phone interview prior to acceptance.
In lieu of an interview, some universities may require that you complete essays on topics of career aspirations or personal influences. The requirements of this online program are relevant to the business field and are set forth to ensure that you have both the academic and professional experience that is needed to successfully complete the degree.
What is the GMAT vs. GRE?
The Graduate Management Admission Test (GMAT) is used to test students on abilities in analytics, mathematics, verbal, reading, and writing. This has been the leading test for students that are hoping to get accepted into online MBA programs, since its focus is on managerial techniques and skills.
The Graduate Record Examination (GRE) is another form of post-undergraduate exam that is administered to students to test skills in reasoning, writing, verbal, and critical thinking. Most students that take this form of the assessment are pursuing graduate-level education in subjects other than business administration, but it is not uncommon for MBA students to have completed the GRE.
What is the Difference Between the GRE and GMAT?
The GRE is the most common form of graduate-level exam, since it is required for most graduate-level programs in disciplines other than business. Differences between the two exams exist subjectively, since the GMAT is more prone to testing students on advanced mathematics skills – which some people may find more difficult than verbal testing. Some students may find the mathematics more difficult in the GMAT, but the verbal section more difficult in the GRE.
In terms of acceptance, most universities will accept scores from either the GMAT or GRE for acceptance, so preference by test-taker is usually the determining factor in which will be attempted.
When identifying differences between the 2 exams, most students note the consistency as the main difference. While the subject matter is very similar between the two tests, each section of the tests involve different requirements. The structure of each exam is slightly different, but both serve the same purpose in measuring intellectual abilities of upcoming graduate students.
The constituents of the GRE include 2 thirty minute essays in analytic writing, 2 thirty minute essays in verbal reasoning, 2 thirty-five minute qualitative reasoning sections, and 1 thirty-five minute math or verbal section. The GMAT consists of 1 thirty minute analytic essay, 1 thirty minute integrated reasoning section, 1 seventy-five minute quantitative section, and 1 seventy-five minute verbal section.
Administration and Score Ranges
Both exams are administered in computer format and are completed in 3.5 hours. Score ranges for the GRE are 130-170 and 200-800 for the GMAT. Depending on the university that you choose for your online MBA, your average scores from either of these exams may be used to determine your acceptance.
Cost of an Online MBA
Online education provides a wealth of benefits to learners that seek better opportunities and more expertise within their fields. The online MBA is no exception, being one of the most desired degrees available today. When you decide on the online MBA for your graduate degree, you must be able to properly plan for both time and money.
Considering the costs of a degree program can assist you in deciding if saving or student assistance is the right option for you in the long run. Determining the costs of online MBA programs can be tedious, since students must consider tuition, fees, and other hidden costs associated with their chosen degree program.
Technology or Enrollment Fees
Online degree programs dismiss the need for residency charges or travel expenses, but can make up for costs in areas such as technology fees, enrollment fees, and distance education fees. Our researchers have looked into some popular online MBA programs to give you some insight into the variable prices that come along with online education.
As you can see from the data below, some universities offer tuition that is comparable to undergraduate programs, while others require much more financial engagement from learners. The reputation of the university often plays a large role in the costs of tuition. Take a look below at a few of the universities our experts provided.
Wide Range of Online MBA Tuition
- University of North Dakota – online MBA – $13,944
- Western Illinois University – online MBA – $14,078
- University of Central Arkansas – online MBA – $15,300
- University of North Carolina – Chapel Hill – online MBA – $114,077
- Arizona State University – online MBA – $56,700 – $65,600