Is an online MBA worth it?
Table of Contents
By: Genevieve Carlton, Edited by: Gabriela Pérez Jordán
Published: January 14, 2025
When it comes to investing in your career, a master of business administration (MBA) can pay off. But is an online MBA worth it? Here's what you need to know about earning your MBA online.
Online MBA vs. on-campus MBA
Some of the benefits of an online vs. on-campus MBA are the same. You can boost your earning potential, specialize your skills, and qualify for more jobs with both. But are you sacrificing quality if you earn an MBA online?
Here's the good news: accredited online MBA programs meet the same high standards as on-campus programs. And many of the top business schools offer both online and on-campus delivery formats.
If you're looking for a more flexible and affordable way to earn an MBA, an online MBA could be a good fit.
What are the benefits of an online MBA degree?
What makes earning an online MBA worth it for students? Here are some of the benefits:
- Flexibility: By enrolling online, you can complete courses on your schedule, arranging coursework around your other responsibilities.
- Affordability: Not only can you save on tuition, but an online MBA means you can work while earning your degree.
- Access: Want to attend a top business school without relocating? An online MBA program can make that possible.
- Options: With multiple types of online MBA degrees, you can choose a concentration, accelerated program, or part-time option.
How much does an online MBA cost?
According to the National Center for Education Statistics (NCES), the average annual tuition and fees for master's programs in business and management was $15,925 in 2020 for all institution types and delivery formats.
An online format can help you save. You'll save on living and commuting expenses, and many online MBA programs offer affordable tuition rates or discounts for online learners. Students enrolled in online MBA programs at accredited business schools can also qualify for loans, scholarships, and grants to cover costs.
By choosing an affordable program, you can boost your MBA's return on investment (ROI).
Understand how long it takes to get an online MBA.
Does an online MBA have a good ROI?
Wondering if an online MBA is worth it? Think like an MBA student and calculate the ROI.
MBA program graduates often qualify for higher-paying management jobs. Management occupations report a median annual salary of $116,880, according to May 2023 data from the Bureau of Labor Statistics (BLS).
Considering that the NCES reports the annual average tuition for management and business master's programs as $15,925 in 2020, earning an MBA can have a strong ROI.
Enrolling in an accelerated one-year MBA can also launch your career faster, increasing your ROI.
Are online MBA degree holders in demand?
With an online MBA, you can move into management roles in diverse industries. In fact, managers will benefit from 1.2 million job openings annually from 2023-33, according to BLS projections.
Below are some of the fastest-growing management occupations with data from the BLS for 2023–33:
- Healthcare managers: +29%
- Financial managers: +17%
- IT managers: +17%
- Management analysts: +11%
- Supply chain managers: +9%
Explore what you can do with an online MBA.
Is getting an online MBA worth it?
Earning an MBA can lead to higher-paying careers and leadership opportunities. But it's also a major commitment.
Is an online MBA worth it for you? Consider your budget, career goals, and schedule to decide whether an online MBA is a good option.
Next, make sure you choose the right program. You'll want a business school that meets your needs as a student. Research concentrations, course delivery options, and faculty to compare programs. It's also good to look at online student services, including academic advising and career services.
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