Choosing the Right Online MBA Program
More than 100 accredited business schools now offer a Master of Business
Administration degree via distance learning, which makes getting an MBA
online more possible (and attractive) than ever before.
Like traditional MBA programs, distance learning courses include classical
and current business theories and strive to teach students how to do a
good job of managing and leading complex organizations in today's
fiercely competitive business world. However, unlike many campus-based
MBA programs that only require professors to have a Ph.D., most online MBA teachers also have real world business experience.
Distance learning has several advantages. No travel or parking costs.
Courses are available 24/7 and accommodate students from different
cultural backgrounds and levels of business experience. And even though
some still consider an MBA from a bricks and mortar campus more "real",
your "real" diploma won't give away the fact that you met your MBA
requirements online.
In order to choose the MBA program most appropriate for you, carefully
evaluate what you want that program to do for you. Here are the top eight
questions to ask yourself:
- Does the school offer the degree you want? (MBA, MAcc, EMBA)
- Is the curriculum focused as broadly or narrowly as you want?
- Will the courses offered provide the knowledge you need?
- Do you have the academic background in calculus, statistics and
economics necessary to pass them?
- Do the program's elective courses interest you?
- Are the topics listed in the syllabus the most important ones for your
career game plan?
- Are the program fees within your budget? If you will need to obtain a
loan to pay them, can you make satisfactory arrangements to do so?
- Are the school's graduates successful in getting the types of jobs and
pay level you want? (Usually the school's career services office can
provide these statistics)
Your answers will provide the profile you should use in choosing the
online MBA program best suited to your needs.
Before making your selection final, make sure that the degree being
conferred is valid. As the number of online students has grown so has the
number of degree mills offering MBA degrees that aren't worth the paper
they're printed on, let alone the prices they charge. Steer clear of
non-accredited universities or those accredited by an agency not
recognized by the Council on Higher Education Accreditation.
Costs for acquiring an online MBA degree from an accredited school range
from $5,000 to more than $100,000 for very similar curricula of 12 to 15
courses. Student loans are available at attractive interest rates. That
may sound like a lot to spend, but remember that having an MBA degree can
boost your salary by as much as 50% and vastly improve your job mobility.