Is an online MBA worth it?
Whether you’re switching careers or want to qualify for higher-paying roles, an online MBA can help you achieve your professional goals. Discover the benefits, costs, and networking opportunities associated with online MBAs in our guide.
Find the right MBA program for you
Why an online MBA is good for career changers
If you're seeking a new career, an online MBA can help you develop the skills you need to succeed in various roles. Most online MBA programs teach the marketing, strategy, finance, and leadership skills employers value most in business settings. Additional benefits of pursuing an online MBA may include:
- Flexibility for busy schedules: Earn your master's in business administration remotely and on a part-time basis so you can keep working while you upskill.
- Networking opportunities: Online MBA networking opportunities may allow you to connect with guest speakers, instructors, peers, and alumni.
- Business acumen: Completing an MBA may help you demonstrate initiative, strategy know-how, and commitment to potential employers, which can help you smoothly transition into a new career.
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 by earning an MBA in either format. 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 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: An online MBA allows you to work while earning your degree, which can help offset the cost of tuition.
- 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, an accelerated program, or a part-time option.
How much does an online MBA cost?
According to the National Center for Education Statistics (NCES), the average annual tuition for master's programs in business and management was $15,925 in 2020.
An online format can help you save on living and commuting expenses. Many online MBA programs also charge lower-than-average tuition or offer 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). Learn how long it takes to get an online MBA.
Does an online MBA have a good ROI?
Wondering if an online MBA is worth the cost? Think like an MBA student and calculate the ROI.
MBA program graduates often qualify for higher-paying management jobs. According to the Bureau of Labor Statistics (BLS), professionals in management occupations earned a median annual salary of $122,090 as of May 2024.
Since the annual average tuition for management and business master's programs was $15,925 in 2020 (according to the NCES), 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, the BLS projects managers will see 1.2 million job openings annually from 2023–33.
Some of the fastest-growing management occupations from 2023–33 (per the BLS) may include:
- Medical and health services managers: +29%
- Financial managers: +17%
- IT managers: +17%
- Management analysts: +11%
- Supply chain managers: +9%
Learn more about what you can do with an online MBA.
MBA networking opportunities
An MBA program — even online — can lead to several networking opportunities, which can help you learn about different businesses, practice your skills, and advance your career. In addition to connecting with learners and instructors in your program, an MBA program can introduce you to:
- Networking organizations like the Association of MBAs, the Executive MBA Council, and the American Management Association.
- Engaging events, where you can practice your elevator pitch and meet professionals in your field.
- Alumni groups, which can help you connect with others who have studied at your school and/or enrolled in your MBA program.
- Corporate contacts from companies that sponsor or have a connection to the MBA program or business department.
Internships
Some MBA programs may present you with valuable internship opportunities with local or national organizations. Look for a program that emphasizes experiential learning and networking to increase your chances of securing a business administration internship for course credit.
Even if your program doesn't offer internships for credit, instructors may have helpful connections with organizations that provide internships.
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. You may also want to preview a program's online student services, including academic advising and career services.
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