What Are 10 Great Advantages of Studying Online MBA?
What Are 10 Great Advantages of Studying Online MBA?
Online MBAs are all the rage these days, with people using the time spent during lockdowns due to the coronavirus pandemic to retool and refocus on learning. This means the number of people studying for an online MBA has drastically increased, as well as the number of universities that are offering people the chance to learn online has also gone up significantly.
Simply put, MBAs are becoming more widespread and more attractive, with it easier than ever to enroll in an online course. Whether you are already in employment or are thinking of boosting your career prospects or have just finished a bachelor’s degree in a related subject. Still, you would like to learn more about the world of MBAs, or even if you are currently studying an MBA and would like to remember why it can be so advantageous, this guide has been specially created for you to learn all about the amazing advantages that can be gleaned from studying for an online MBA.
Check out what are the 10 great advantages of studying online MBA also read on to learn about the types of opportunities you can gain after studying MBA –
1. Increases Your Salary Expectations –
On average, people who have an MBA are more likely to gain higher salaries than people who do not have one. This is because the skills learned in such a course command high respect in the business world, meaning that companies might be willing to pay more for people with these skills. According to a US News study, the average salary and bonuses paid to people with an MBA is a handsome $106,757.
This number means that you can live more than comfortably in even some of the more expensive cities in the country, such as New York, San Francisco, or Boston. Even more impressive is the benefits from studying at the top ten schools in the country, where the average salary amounts to a truly whopping $173,860, easily putting you within the top ten percent of earners in the country.
2. It Can Be Balanced Around Other Commitments –
Online MBAs have become so popular due to their flexibility. As opposed to in-person learning and all the relocation, physical presence, commuting time, and added costs that they endure, an online MBA can be enjoyed from the comfort of your own home.
This also means that they are far more flexible than in-person learning, meaning that you can study this extra qualification while balancing the commitments of work and raising children, making it a far more equitable process.
If you are thinking about studying for an online MBA, why not check out the course available at Suffolk University in Boston? They are ranked in the 1st tier of national universities, considered one of the best business schools by The Princeton Review, and are ranked in the top 25 best Online MBAs for international business in the country. Learn more by reading all about what they have to offer here.
3. It Aids your Career Progression –
If you find yourself stuck in a rut in your career, unable to find a way to progress to the next stage, this might be because you are lacking the necessary skills to make that next step. With an online MBA, however, you will gain the necessary acumen that employees look for when it comes to moving to the next step.
This is especially true when it comes to roles that require a high level of decision-making and risk, as MBAs teach you how to make these decisions that will minimize the chance of failure.
4. Your Job is More Secure –
In rough times, employers often look to the least-skilled members of their team to lay-off. However, if you have the skills gained from an online MBA, your talent will be far more in demand. This means that your sense of job security is much higher. As the Financial Times has pointed out, having a new MBA can be an asset during a tough job market; this is especially true due to the coronavirus pandemic’s negative economic effects.
Now with MBA courses often lasting for just a year, they can be a clever and quick solution to maintain discipline, learn new skills and become far more attractive to employers in the long run.
5. Diversity of Jobs Available –
As an MBA teaches you so many skills that bridge the different gaps within the business world, this means that an MBA can help you secure a wide variety of different jobs. The types of jobs that one can expect to have with an MBA include, but are not limited to:
- Chief Executive Officer
- Business Administrator
- Chief Financial Officer
- Chief Operations Officer
- Investment Banker
- Operations Research Analyst
- Logistics Manager
- Marketing Manager
- Business Operations Manager
- Financial Analyst
- Financial Resources Manager
- Human Resources Manager
- Budget Analyst
- Sales Manager
- Policy Analyst
- Policy Manager
- IT Manager
- Business Intelligence Analyst
These jobs listed above are just a small taste of the diverse number of jobs that one can expect to pursue after studying for an online MBA. Perhaps the most exciting part is the fact that MBAs do not only teach you how to be an employee but also become the founder of a business, as they teach you to:
6. Think Like an Entrepreneur –
When it comes to building your own startup, you have to consider a whole host of factors. A lot of people go in blind when starting a company, which is why most startups are doomed to fail. Nonetheless, by learning an online MBA, you will learn about the types of factors that make a great business leader, hopefully giving you an idea of what pitfalls to avoid and which success stories to replicate when it comes to starting your own business.
7. Can Bridge Different Gaps in the Industry –
As an MBA teaches you so many different and diverse skills within a business world, this allows you to bridge the gap between different industries. This is especially important in a business setting where it feels like different, almost contrasting sectors of a company cannot find a way to talk to one another. With an MBA, you will be fluent in both creative marketing and business administration, able to allow these two sectors to communicate and therefore bring out the best in your whole team.
8. Build a Pivotal Network –
MBAs are not just about what you study. They are about the types of diverse people that you meet on the way. This is especially true for online MBAs, which are not limited to any one location and truly allow a number of diverse candidates to take part.
By working with these different types of people, you will be able to build a diverse network, something that will come in handy when it comes to starting your own business and need co-founders, looking for potential employees, or even trying to land a job yourself.
As they are international facing as well, you might also learn about how business works in different countries. Additionally, you might also simply make some great friends for life!
9. Learn Success Stories –
Success can be elusive, especially if you do not know where to start. MBAs teach you in-depth about some of the most famous success stories across the business world, featuring companies that managed to be valued as a unicorn within just a few years of their founding as well as legacy businesses that have grown their brand over the decades.
By learning these success stories, you will know both what to avoid in the future and what to try to replicate. This is especially true as it is not just about knowing the facts of a business success but getting trenchant analysis from business leaders about why that success is so impressive, allowing for proper skills transference for your own entrepreneurship ideas.
10. Learn Leadership Skills –
When it comes to working in a leadership position, it helps to know exactly what you are talking about. This is where an MBA can come in as it teaches you about all the different aspects that you will need to take on board if you want to lead within a business setting.
This is not just through lectures either. By working on group objects and participating in seminars, you get a safe environment to try out your skills, which can then be translated into a business setting to great success.
In conclusion, there are both pros and cons to getting an MBA. This article has shown why an online MBA might be the right choice for you to pursue now or in the future. Not only do they offer far more flexibility than learning in person, but they are also significantly cheaper than a traditional MBA and also come with the added benefit of saving costs and the knowledge that the ongoing coronavirus pandemic will not impede your work. It is hoped that this guide has given you some ideas of why it might work for you, and now you have the courage to start enrolling for an MBA itself.