Should you consider an online MBA program?

Online MBA courses are popular as ever, but are they worth the investment?

You have an abundance of choices with choosing which college or university you get to take your MBA program. With prices as low as $1,200 a credit from University of Florida, it is as affordable as ever. But is it worth taking the time and money for an online MBA program?

What can an MBA program do for you?

While during your Master of Business Administration (MBA) program you’ll learn leadership skills, business sense, and how to network with other business representatives. The question is, will these skills being taught online be just as effective as live, face to face classes? Will it be worth your time and money on an online class teaching social skills? But all these factors depend on your professional expectations, costs, and goals.

The Cost of an Online MBA program

The cost of an online MBA program can vary widely but assuming that you are taking an online MBA program out-of-state, the whole program can cost as low as $22,000, which the University of Illinois offers. That is about one-fifth of the cost of a normal degree, which averages around $100,000. So, affordability wise, you have a variety of choices of which university or college to according to your budget.

How to choose an MBA program that is right for you

Now, with plenty of colleges offering an online MBA course, how do you choose which college or university fits your needs? Since most of your interaction with the professors and the faculty will be done online, you want to make sure they offer other online courses. This makes sure the college or university has a well-established presence online and have experience working with online students. Other questions you might want to ask before you enroll or apply are…

• Do the professors would teach the online courses also teach on campus?
• Are the courses going to be pre-recorded video or taught live?
• Is there a strong network of alumni?
• What is their employment rate and average salary for those jobs?

The Pros and Cons of Online MBA programs

Cost: As mentioned previously, the cost of an online MBA programs is significantly lower than in person, on campus courses. Of course, this doesn’t count for in-state prices. So, if affordability is your priority, look for MBA programs in in-state colleges and universities. If they do not match your costs, you should be able to an affordable college or university that offers an online program that matches your cost. But acknowledge that cheap online MBA programs are very competitive, because with affordability comes competition with the thousands of other applicants.

Location: This seems very obvious but deciding to enroll in on-campus class limits your choices on where you can go without going into college dorms. If you decide on taking an online MBA program, you can choose from a variety of colleges and universities and pick the ones that matches you needs and expectations.

Quality: What most people are worried about is that will an online program degrade the quality of the education or the negative stigma that comes with online learning. But with online studying now normalized by the pandemic, many consider an online degree just as valid. But don’t make the mistake of enrolling in an online MBA program thinking it easier than live class.

Verdict

An MBA degree, online or offline, is the correct step if you want to go to progress your business career. With hundreds of colleges and universities out there to match your needs and plenty of them offering online MBA programs, it would be a worthwhile investment if you have the time. Employees with an MBA degree tend to get higher salaries, obtain senior level position, and many companies look for employees with such a degree. An online MBA degree can take up to two to three years but with all those benefits of having a MBA. So if you have got the time or wanting to take your professional career to the next level, you should consider taking an MBA program, online or not.

Read more: Concerns other than Profit in Business for Students