Deciding to acquire an MBA is a major life choice. It costs time and money, and you may even need to quit your job if you want to study full-time.
Figuring out whether it’s the right choice for you is a thing in and of its own, but one thing’s certain: the best MBA programs offer professionals a competitive edge in the business world.
If you want to know more about the best online MBA programs available — and about MBAs in general — this ultimate guide can help you out.
Best Online MBA Programs Ranked – 2024
- Bloomington Kelley School of Business (Indiana University)
- Marshall School of Business (University of Southern California)
- Tepper School of Business (Carnegie Mellon University)
- Hough Graduate School of Business (University of Florida)
- Daniels College of Business – University of Denver
- College of Business Administration – University of Nebraska-Lincoln
- W.P. Carey School of Business – Arizona State University
- Henry B. Tippie School of Management – University of Iowa
- Eccles School of Business – University of Utah
- Beacom School of Business – University of South Dakota
- Jones Graduate School of Business – Rice University
- Kenan-Flagler Business School – University of North Carolina at Chapel Hill
- Poole College of Management – North Carolina State University
- Naveen Jindal School of Management – University of Texas at Dallas
- Isenberg School of Management – University of Massachusetts Amherst
What is an MBA?
An MBA is a Master of Business Administration.
MBAs were first introduced in 1908 by Harvard Business School. When Harvard first launched this master’s degree, it was the first known business-related graduate degree that became globally offered by big schools.
These days, the MBA is the most popular graduate management degree, most likely because it often comes with the benefit of making degree holders more attractive to employers.
When you study for a master’s degree in business administration, you build business knowledge, develop important leadership skills, learn soft skills, network, and gain fundamental management knowledge. This knowledge can help you achieve a more holistic perspective of business in various spaces like finance, marketing, and accounting.
It’s well-known by many that MBAs can help to boost your career and yearly salary prospects — even if you don’t necessarily go to the best MBA programs in US locations. This very career and salary boost is often why many choose to go for their master’s in business administration.
Other things that can motivate people to get an MBA include promotions to senior positions, managing people, better prospects when changing industries, and better knowledge for changing job functions.
The 15 Best Online MBAs 2024 Has to Offer
Based on some of the online MBA rankings, the best online business schools with MBA programs available are listed here.
Total Cost: $78,246
Financial Aid: Available
Acceptance Rate: 36%
Graduates’ Average Starting Salaries: $125,140
Credits to Graduate: 54 credits, highly customizable
GMAT Requirements:
- GRE or GMAT scores are required, but in special cases, you may be able to apply for a waiver (especially if you have a strong academic past or can provide other evidence of your potential)
- As GMAT scores are valid for five years, if you’ve taken the test more than once in the past few years, only your highest scores will be considered
- Bloomington Kelley states the average GMAT score of applicants is around 670, but if your score is lower you may try to compensate on other parts of your application. Your scores should demonstrate a balance between your verbal and quantitative skills
- For more information on Bloomington Kelley’s requirements, see this link
- November 15 – Deadline for priority online MBA application for Spring (2024)
- December 15 – Deadline for final online MBA application for Spring (2024)
Bloomington Kelley School of Business offers what appears to be the best MBA online, and here’s why.
Indiana University’s Bloomington Kelley School of Business offers an online program that tops the MBA rankings almost every single year. It’s a top-tier program, but it’s affordable and offers plenty of value.
Some of the best benefits of this program include networking opportunities and flexible schedules. Many of the graduates mention they appreciated learning from devoted instructors and professors who give students personalized attention and use good-quality materials. It’s worth noting that the professors are the same ones that teach the conventional, in-person program.
The Kelley School of Business’ online MBA constantly tops ranking lists because it mirrors the in-person program exactly. There is also an on-campus week for students where they get world-class support.
Students can complete dual degrees (MBA/MS) at this school.
Total Cost: $109,428
Financial Aid: Available
Acceptance Rate: 57%
Graduates’ Average Starting Salaries: $189,154
Credits to Graduate: 51 credits
GMAT Requirements:
- Required, but you may request a waiver in certain conditions
- You may also submit your GRE scores
- The average applicant GMAT score at USC Marshall is 630
- The average applicant GRE score at USC Marshall is 314
- If your scores are not at the average, you can compensate on other parts of your application
- Marshall School of Business is currently not accepting any applications from Puerto Rico
- Start in fall (August) or spring (December)
- August 3 – Application review round one for Spring 2024
- September 7 – Application review round two and scholarship deadline
- October 14 – Application review round three
- If there is enough space, MSB will accept a fourth round of applications (first come, first served) to November 4, 2022
Another online MBA constantly on the top-ranking lists is from the University of Southern California’s Marshall School of Business. It’s not necessarily affordable at $109,428, although thankfully, this cost is spread out over five semesters. Students may also seek financial aid. The cost is quite worth it, considering it is one of the best MBA online programs in the nation.
The online program at this school is cutting-edge, and it’s also one of the most prestigious on this list. Students enjoy the convenience of studying online without sacrificing outstanding academic support from the faculty and program.
When students sign up for this MBA, they can benefit from flexible schedules. The faculty prepares interdisciplinary lessons to help students understand coursework fully. Many graduates have reported feeling like the program was intimate and personalized for the student.
The personalized experience might be because there are only a few hundred applicants yearly. However, you might have a good chance of getting accepted as this school has a 57% acceptance rate.
Total Cost: $141,320
Financial Aid: Available
Acceptance Rate: 56%
Graduates’ Average Starting Salaries: $134,000
Credits to Graduate: 48 credits
GMAT Requirements:
- Required; GMAT scores are preferred, but GRE scores are accepted
- The average applicant GMAT score is 684 as of writing
Application Deadlines:
- January 5, 2022 / March 6, 2022 / April 18, 2022
- Because all the major deadlines have passed, you can continue to send in your application through rolling admissions though you will need GRE/GMAT/EA scores to do so.
Carnegie Mellon (CM) is a prestigious institution offering an online MBA program through the Tepper School of Business. The tuition costs reflect this distinction.
The program offered at this school is a part-time online MBA where students can enjoy the convenience of online classes while also attending short yet immersive on-site “Access Weekends” every two months at a CM location.
Students often choose this program for its quality and flexibility. It offers part and full-time options, so if you want to keep working, you won’t have to quit your job. Regardless of your choice, you still go through the same curriculum as the full-time program.
Total Cost: $59,807
Financial Aid: More information here
Acceptance Rate: 46%
Graduates’ Average Starting Salaries: $150,505
Credits to Graduate:
- Online 1-year MBA – 32 credits
- Online 2-year MBA – 48 credits
- Weekend Professional MBA, 1-year – 48 credits
- Weekend Professional MBA, 2-year – 48 years
GMAT Requirements:
- The GMAT is not required for the University of Florida’s professional MBA programs, including online MBAs, Weekend Professional MBAs, and Executive MBAs. You can still submit your scores to this top online MBA program to give your application an edge
- The average GMAT score is around 682
Application Deadlines:
- Online 1-year MBA
- Fall – June 1, 2022
- Spring – November 1, 2022
- Summer – March 1, 2022
- Online 2-year MBA
- Fall – June 1, 2022
- Spring – November 1, 2022
- Summer – March 1, 2022
- Weekend Professional 1-year MBA:
- Fall – June 1, 2022
- Weekend Professional 2-year MBA:
- Spring – November 1, 2022
The University of Florida’s Hough Graduate School of Business proudly offers an online MBA program that often rates #5 nationwide. Around 500 applicants try to get in yearly, but only 46% get accepted.
This MBA program is one of the more affordable ones on this list — but don’t let that fool you into linking lower tuition with a lower salary potential. According to the Princeton Review, the average starting salary of graduates is $150,505.
When enrolling, students can choose between a one-year or two-year program depending on their timelines. Students enjoy great value for a high-caliber, high-quality accelerated program conducted by knowledgeable professors. Students have said that the program is challenging but very beneficial.
Thanks to high student retention rates, many grads report that they feel like they have gotten to know the other students very well by the end of their two-year course.
Total Cost: $83,220
Financial Aid: More information here
Acceptance Rate: 77%
Graduates’ Average Starting Salaries: $106,718
Credits to Graduate: 60 credits
GMAT Requirements: GMAT/GRE optional, but you can submit your scores if you prefer
Application Deadlines:
- Rolling admissions for Fall 2022
- October 15, 2022 – Deadline for the Spring Quarter of 2024
- October 15, 2022 – Deadline for the Fall Quarter of 2024
Students of the Daniels College of Business enjoy a flexible schedule — they can choose from four start dates per year and can finish their 60 credits as quickly as 21 months. Here, qualifying students may be able to get a GMAT waiver.
The online MBA at the University of Denver blends interactive experiences with self-paced learning and online courses, giving a more holistic learning experience all around.
Total Cost: $31,200
Financial Aid: More information here
Acceptance Rate: 81%
Graduates’ Average Starting Salaries: $116,108
Credits to Graduate: 48 credits
GMAT Requirements:
- GMAT or GRE required
- The recommended GMAT score is 600, GRE score must be comparable
- There are certain cases when the GMAT requirement can be waived, such as holding a JD, Ph.D., Pharm D, or MD. Those who are currently studying med school also do not need to submit GMAT/GRE scores. Applicants with a certain level of work experience also need not submit scores. For more information about GMAT/GRE exemptions, check out this link
- If you are exempted but still wish to submit your score, you can
Application Deadlines:
- July 1 – Fall semester
- November 1 – Spring semester
- April 1 – Summer semester
- You can apply at any time. If you miss the deadline for the nearest semester, your application will be considered for the next coming semester
One of the best benefits of the online MBA program at the University of Nebraska is the fact that it offers excellent value for money. Besides the affordability, this program also provides flexibility (thanks to the 8-week semester format) and an excellent curriculum.
The internationally-recognized program offered here is 100% online, and students can choose from the five possible concentrations: business analytics, international business, supply chain management, marketing, and finance. Many electives are available.
Total Cost: $61,545
Financial Aid: More information here
Acceptance Rate: 59%
Graduates’ Average Starting Salaries: $103,771
Credits to Graduate: 57 credits
GMAT Requirements: GMAT and GRE scores are not required for admission to this program. You may still submit your GMAT scores; the published class average is 617
Application Deadlines:
- Spring 2024 deadlines
- July 1, 2022 – Early Decision, Round 1
- August 1, 2022 – Early Decision, Round 2
- October 3, 2022 – Priority Consideration, Round 3
- December 16, 2022 – Final Deadline, Round 4
- Fall 2024 deadlines
- October 1, 2022 – Early Decision 1, Round 1
- December 1, 2022 – Early Decision 2, Round 2
- February 1, 2024 – International Deadline, Round 3
- April 1, 2024 – Priority Consideration, Round 4
- July 1, 2024 – Final Deadline, Round 5
- Spring 2024 deadlines
- April 1, 2024 – Early Decision, Round 1
- July 1, 2024 – Early Decision, Round 2
- October 1, 2024 – Priority Consideration, Round 3
- December 15, 2024 – Final Deadline, Round 4
Getting into the online MBA program at ASU’s W.P. Carey School of Business is a bit harder due to the higher academic standards, but once you get in you’ll enjoy flexibility and quality education.
Upon enrolling, students choose between four areas of focus: international business, marketing, finance, and supply chain management.
The student body here is quite varied, including people who work for Fortune 500 companies and even Air Force pilots.
Total Cost: $31,725
Financial Aid: More information here
Acceptance Rate: 74%
Graduates’ Average Starting Salaries: $125,771
Credits to Graduate: 51 credits
GMAT Requirements: Submission of GMAT or GRE scores is optional
Application Deadlines:
- February 15 – Summer Priority Deadline
- May 1 – Summer Final Deadline
- March 15 – Fall Priority Deadline
- October 15 – Spring Priority Deadline
- January 1 – Spring Final Deadline
The online MBA program at the Henry B. Tippie School of Management in the University of Iowa is fairly new, having launched in 2019. If you’re concerned about its recency, you’ll be happy to know the program is accredited by the AACSB (Association to Advance Collegiate Schools of Business). It’s also one of the more affordable programs on this list.
Total Cost: $62,400
Financial Aid: More information here
Acceptance Rate: 75%
Graduates’ Average Starting Salaries: $140,609
Credits to Graduate: 48 credits
GMAT Requirements:
- The David Eccles School of Business is now accepting applications without a GMAT/GRE score as long as you are eligible and complete the waiver application, found here
- The average applicant GMAT score is around 607
- Submitting your GRE/GMAT scores automatically makes you eligible for some scholarship opportunities of amounts from $1,500 to $6,000
Application Deadlines:
- August 1 – Final round for Fall 2022 start
The Online MBA at University of Utah’s Eccles School of Business offers a fully-online format. However, students get a 3-day on-campus experience in year one. Students of the online program share the same professors as on-campus students, and these professors make sure they are available for questions and concerns. The administration at this university is accommodating and responsive, allowing students to address their problems easily.
Total Cost: $15,524
Financial Aid: More information here
Acceptance Rate: 99%
Graduates’ Average Starting Salaries: $74,772
Credits to Graduate: 33 – 39 credits
GMAT Requirements:
- The average GMAT score is 551
- GMAT scores are required, but only for those who do not have a degree from a college or university in the United States
- You may be eligible for a GMAT or GRE waiver; ensure you contact one of the school’s graduate enrollment coordinators or one of the graduate advisors for Beacom
- If you are applying for the B.B.A./M.B.A. fast-track program, you do not need to provide GMAT scores
Application Deadlines: Deadlines are always three weeks before a semester starts; Beacom has fall, spring, and summer starts
The online MBA program at the University of South Dakota is one of the most accessible on this list — and certainly the cheapest. The program is AASCB accredited, ensuring its quality. With the accessible price, students get a good ROI.
Beacom School of Business’ MBA program is fully online and extremely flexible. The faculty ensures they are also accessible for questions and concerns.
Total Cost:
- Upon admission, you must pay a $2,500 fee (applicable to your first term’s tuition)
- Students enrolled in the 2021–2022 academic year will pay $2,035.74 per credit. Total tuition costs should be around $109,930 for 54 credits, plus another two or so thousand for textbooks and fees
- If you are enrolling in the July 2022 quadmester, you’ll pay the 2022-2023 rate of $2,100 per credit. The total will be $113,400 for 54 credits, plus more for books and other fees
Financial Aid: Rice University does not offer any grants or scholarships for its online MBA degree programs. However, the school does provide this link through which admitted students can find third-party scholarships
Acceptance Rate: 69%
Graduates’ Average Starting Salaries: $123,786
Credits to Graduate: 54 credits
GMAT Requirements:
- Rice University requires applicants to submit their GMAT, GRE, or EA (Executive Assessment) scores with their application
- You may request a waiver of this requirement if you qualify — more information is available here
- The average GMAT score for the class of 2024 was 705
Application Deadlines:
- Rice University accepts applications on a rolling deadline basis for its online MBA program
- You may apply for admission for one of its four starting dates in October, January, April, or July
Rice University offers one of the best MBA online programs today through its Jones Graduate School of Business. Many have attested to the fact that the online MBA at this institution is held to the same standard as its in-person, on-campus equivalents. Students who enroll can expect to complete about 54 credits to graduate at a load of roughly fifteen to twenty hours each week. At this flexible part-time rate, students can expect to graduate within two years.
Total Cost: $125,589
Financial Aid: More information here
Acceptance Rate: 55%
Graduates’ Average Starting Salaries: $134,235
Credits to Graduate: 62 credits
GMAT Requirements:
- The University of North Carolina at Chapel Hill requires GMAT or GRE scores to be included with your application
- You may be able to apply for a waiver of this requirement; for more information click here
- There average GMAT scores for applicants is around 690
Application Deadlines:
- Kenan-Flagler Business School offers four start dates each year in January, April, July, and finally, in October
- June 27, 2022 – Priority Deadline for October 2022 start
- July 25, 2022 – Final Deadline for October 2022 start
- September 26, 2022 – Priority Deadline for January 2024 start
- October 24, 2022 – Final Deadline for January 2024 start
- December 12, 2022 – Priority Deadline for April 2024 start
- January 23, 2024 – Final Deadline for April 2024 start
Students who enroll in the Kenan-Flagler Business School’s online MBA program can experience the benefits of a highly flexible learning experience, a very strong curriculum, and the potential of a high average starting salary after graduation. It’s worth mentioning that the material covered in this program’s curriculum is highly invested in helping students to more deeply develop their analytical skills.
Students can even choose to earn their online MBA with an entrepreneurship concentration if they prefer — something that not many other online programs offer.
Total Cost: $52,711 for in-state students; $93,760 for out-of-state students
Financial Aid: More information here
Acceptance Rate: 58%
Graduates’ Average Starting Salaries: $109,379
Credits to Graduate: 40 credits
GMAT Requirements:
- Applicants to the online MBA program at Poole are not required to submit their GMAT or GRE scores
- If you’d still prefer to submit yours, you may
- The average GMAT scores of applicants hover around 605-610
Application Deadlines:
- August 1, 2022 – One Day to MBA deadline; Round 1 deadline
- September 1, 2022 – Round 2 deadline
- October 1, 2022 – Round 3 deadline
The Poole College of Management at North Carolina State University offers one of the best MBA online programs around today. It is also one of the more affordable options on this list — provided you are living in-state, that is. Out-of-state students will need to pay a premium of over forty thousand dollars.
With Poole College of Management’s online MBA program, students can expect flexibility and an excellent curriculum that’s 40 credits strong. Applying is somewhat simpler, especially if you attend the school’s One Day to MBA event. Plus, applying to the online program or the professional evening MBA program means you won’t need to submit GMAT or GRE scores.
Total Cost: $58,024 for in-state students; $94,887 for out-of-state students
Financial Aid: More information here
Acceptance Rate: 34%
Graduates’ Average Starting Salaries: $106,000
Credits to Graduate: 53 credits
GMAT Requirements:
- The GMAT is required to apply, however, you may submit your GRE scores instead if you prefer
- If you are eligible, you may request a waiver of this requirement; more information is available here
- The average applicant GMAT score seems to be around 675 – 685
Application Deadlines:
- The University of Texas at Dallas’s Naveen Jindal School of Management has start dates in the fall, spring, and summer
- Applications to the online MBA program are considered on a rolling basis, so there are no hard deadlines
Although the three-year online MBA program at the University of Texas at Dallas is quite affordable for in-state students, out-of-state applicants may balk at the price. With the premium, out-of-state students can expect to pay $35,000 more than in-state applicants.
This institution is one of the more selective schools on this list, with an acceptance rate of only 34%. However, applications are accepted and considered for admission on a rolling basis, making it easier to start applying at any time.
At 53 credits, the online MBA at UT Dallas is one of the longer ones, but fortunately, you do get a three-year time frame to get your studies done.
Total Cost: $34,225 – $36,075, depending on the number of credits
Financial Aid: You may contact UMass Amherst’s financial aid office to ask about their available aid, scholarships, and grants; More information here
Acceptance Rate: 92%
Graduates’ Average Starting Salaries: $90,573
Credits to Graduate: 37 – 39 credits
GMAT Requirements:
- The average GMAT score submitted by applicants to this program is about 640
- The GMAT is required to apply, but there are certain conditions for automatic waiver
- You may also apply for a waiver of the GMAT requirement; more information here
Application Deadlines:
- May 1 – Early action deadline for fall term
- June 1 – Final deadline for fall term
- October 1 – Early action deadline for spring term
- November 1 – Final deadline for spring term
- March 1 – Early action deadline for summer term
- March 15 – Final deadline for summer term
The Isenberg School of Management’s online MBA program is one of the easier ones to get into on this list, with its acceptance rate sitting at a healthy 92%. That doesn’t mean that the standards are not as high or the program itself isn’t as good — it’s certainly still one of the best in the nation.
Applicants to this program will enjoy the more affordable fees and the fact that the program only requires 37-39 credits to finish. You’ll be able to get back to work as soon as possible, maximizing your ROI.
What Are Some Common MBA Specializations?
MBA specializations allow you to go into a niche of your choosing once you begin your career. Deciding which field to go into isn’t easy, but it depends on your long-term career goals.
1) General Management
The general management niche is often the most popular choice for MBA students. Even if you ask the best MBA programs’ students, you’ll likely find that many have chosen this specialization — and there’s a reason why.
General management is a great choice if you want to develop your general or all-around business knowledge and skills. It’s versatile, allowing you to use your newly gained knowledge in different industries and business areas.
2) Strategic Management
Unlike general management, strategic management focuses more on preparations you can take for long-term plans. Strategic management usually involves long-term business planning and planning for back-ups and contingencies.
3) International Business
This specialization is a great choice for people who want to work abroad. It’s also excellent for people who want to work for companies with headquarters in several countries worldwide. People within this niche often help keep a company’s or organization’s goals aligned globally.
4) Entrepreneurship
As the name might suggest, students often choose the entrepreneurship specialization if they plan to pursue a business idea. People who work in or want to pursue a start-up can benefit greatly from studying entrepreneurship with their MBA.
5) Finance
The finance specialization is best for people who want to work within the exciting world of finance. It focuses on data analysis, statistics, and accounting, making it a fantastic choice for financial managers, bankers, and financial controllers. It also makes a good choice for chief executives — chief financial officers, in particular.
6) Marketing
Although there are other master’s degrees in marketing, in-person and online MBA programs also offer a marketing track. This specialization focuses on teaching students strategies to promote a business’s products and services.
7) Human Resources (HR)
This specialization is for managers who control HR teams or those working with large groups of employees. When you’re studying HR with your MBA, you’ll focus heavily on team development and motivation, conflict resolution, and other similar management-related concepts.
8) Information Technology (IT) Management
If you want to work in the tech sector or for a business that relies heavily on technology, you can specialize in IT management. It’s not a requirement to go into that industry, but it may help you get a leg up on your competition.
Pros and Cons of an MBA
Deciding whether to pursue a master’s in business administration can be difficult, considering how much time and money you’ll need to invest in the process. If you’re still trying to figure it out, this list of pros and cons may help.
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Alternatives to an MBA
Many may assume that having an MBA can enhance their careers and provide them with a considerable return on investment (ROI), which is true in many cases.
However, earning a master’s in business administration isn’t always the best choice for everyone. After all, the cost involved can be prohibitive for some — and truthfully, not everyone will benefit from having this achievement.
If you’re unsure whether you need to earn an MBA to advance in your career, here are a few alternatives for you to consider.
- Leadership development programs
- Simple networking
- Earning various certifications
- Mentoring
- Six Sigma and Lean Six Sigma Certification
- Attending seminars and conferences
When you’re deciding between an MBA and some of the above alternatives, you can consider your career goals as well as the critical skills and requirements of your dream job. Ask yourself what experience, training, and exposure can help you develop these skills best.
A Career With an MBA
The world is in the middle of a pandemic that has affected many people’s lives and the global economy. Despite this fact, there doesn’t seem to be a massive negative effect on how well MBA graduates have been doing.
According to the Graduate Management Admission Council’s 2020 survey for corporate recruiters, students who graduated with an MBA in 2020 have still been commanding six-figure salaries in their job offers.
The main effect the pandemic has had on MBA grads is the $10,000 drop-in average yearly wages. It appears as though the current average sits around $105,000, where it used to be $115,000 pre-pandemic.
So, if you’re worried about getting a job after your MBA, there still appears to be a good chance you’ll find a job with a lucrative salary.
It’s worth mentioning that some MBA specializations seem to be doing better than others during the pandemic (and most likely for some time after it), like the jobs below.
1) Marketing Managers
Average Yearly Salary: $142,170
Growth from 2020-2030: 10% (around the average)
Marketing managers plan and strategize programs and campaigns to generate consumer interest in a business’s services or products. They often work in corporate offices or regional managing offices. Alternatively, they can also work in ad agencies.
2) Medical and Health Services Manager
Average Yearly Salary: $104,280
Growth from 2020-2030: 32% (triple the average)
Professionals in this fast-growing occupation plan, coordinate, and direct all the business activities of healthcare providers. They work as administrators in healthcare facilities like elder care homes, hospitals, and private group medical practices. People in this field will often need some clinical experience or experience working an administrative role in a healthcare facility or hospital.
3) Financial Manager
Average Yearly Salary: $134,180
Growth from 2020-2030: 17% (around double the average)
People in this role create financial reports, develop long-term financial plans for growth and management, and direct investment activities. Financial managers often work full-time, sometimes over 40 hours a week. They often find employment in insurance companies, investment firms like hedge funds or mutual funds, and banks.
4) Top Executives
Average Yearly Salary: $103,650 for general and operation managers and $185,950 for chief executives
Growth from 2020-2030: 17% (around double the average)
Top executives can work in practically any industry given the duties they usually undertake. They plan policies and strategies to ensure that organizations and businesses meet their financial goals. Top execs often have busy, irregular schedules, including working evenings and weekends. They may often travel for work.
Frequently Asked Questions
Which MBA is most valuable?
The top 10 highest-paying MBA concentrations are:
- Management
- Entrepreneurship
- Finance
- Human Resources
- IT
- Marketing
- Real Estate
- Information Security
- International Business
- Healthcare Management
Is an online MBA worth it?
The answer to this question depends on your needs. Online MBAs have many benefits: you may not need to quit your job, and you may be able to pursue rarer specializations not available nearby. Additionally, online studies can mean that you won’t need to relocate.
The best benefit, of course, is you can often save money pursuing degrees online.
On the flip side, online MBAs may not be worth it if you prefer in-person learning. Some recruiters and hiring managers may also not respect online MBAs as much as conventionally earned degrees. However, this is changing more and more over time, especially since the pandemic has helped push education into the online space. It’s more likely for employers to respect your online MBA now, but you must ensure that it comes from an accredited institution.
How do I choose the right MBA program?
When selecting the right program, consider the program’s culture, your ideal concentration, delivery format, tuition cost, and the potential ROI.
Related: Best Online MBA in Florida: Top 7 Choices
Can you complete an MBA in 1 year?
The simple answer is: yes — depending on the school and program you choose. Some programs can be finished as quickly as nine months, especially ones with accelerated tracks. You’ll need to do a bit of shopping around, but chances are you’ll be able to see some programs that you can finish quickly so you can go back to your career as soon as possible.
Do online MBAs provide placements?
In some countries, the answer to this would be yes. However, this does not appear to be the case in the US.
Which type of MBA is in demand?
When it comes to specializations, the Princeton Review says that the following are the most in-demand:
- General management
- Strategy
- International management
- Consulting
- Entrepreneurship
- Financial leadership
Are online MBAs taken seriously?
Yes! Most employers these days recognize the availability and credibility of online degrees, including MBAs. The exception to this, of course, is when it pertains to unaccredited schools. If the university or college from which you’ve earned (or intend to earn) your MBA is not registered or accredited, it is likely an employer will not take your degree seriously.
If you are still in the process of figuring out which MBA program to choose, make sure that you investigate each one to determine if they are accredited institutions. If they are not registered and accredited, strike them off your shortlist.
Is getting an online MBA worth it?
This Coursera article goes over some of the benefits you are likely to get when you graduate from an online MBA program. Some things that you may experience include:
- You may get a promotion at work or see your responsibilities expanded at the very least
- You can get access to your school’s alumni network nation and worldwide — something that can be extremely valuable in the world of business
- You are likely to receive a financial boost in the form of increased salaries and benefits
The financial boost alone can be an excellent reason to go for an MBA. You can consider an online MBA as an investment, especially since Poets & Quants says that in 2021, online MBA graduates received salary boosts of as much as a staggering 63%.
Which online MBA is the best?
Choosing the “best” online MBA can be incredibly challenging, especially since it’s an entirely subjective experience. Of course, you can go by the rankings and say the school at #1 is objectively the best, but for your particular situation, it could still be different. Consider things such as:
- The school’s name and ranking
- The MBA program’s curriculum
- The total cost of attendance, and whether you can obtain financial aid, scholarships, or grants
- The specializations and MBA concentrations available at the institution
- The success of previous graduates and their average starting salary post-graduation
In the end, only you can decide the best online MBA program for you.
Does Harvard offer an online MBA?
Unfortunately, no. At this time, Harvard currently does not offer a full-time online MBA program. The Harvard Business School’s MBA programs are typically full-time cohort programs held in person, on-campus. However, the programs do still offer some part-time or online-learning opportunities so that students can at least have some flexibility to work with. These opportunities allow students to continue working their full-time jobs or fulfill any other ongoing responsibilities they may have as they study.
If you’d like to know more about why the HBS does not offer fully-online MBAs, it is because HBS felt in 2012 that the tools available in online education weren’t a good fit for courses taught with methods that were heavily reliant on in-person class discussions (such as case methods).
Regardless, we may see this change as online learning becomes the norm — especially now that HBS online is a thing!
Does it matter where you get your MBA from?
Most of the time, the answer to this question depends on your employer. Some employers focus on where you got your MBA, giving more credence to the source of your degree than any other factor that may come into play. In this GMAC (Graduate Management Admission Council) report from 2018, 84% of full-time 2-year MBA graduate respondents (regardless of institution) were employed, while 12% are now entrepreneurs. Full-time 1-year MBA graduate respondents were 78% employed, with 13% now pursuing entrepreneurship. That brings it to a total of 96% and 91% total employed for both 2-year and 1-year programs, respectively.
Of course, you may receive an edge by going to one of the programs. Going to a well-known university or program may help you command a higher salary and more benefits all around.
How much does an MBA increase your salary?
According to this article, those who graduate from an MBA program can earn as much as $20,000 more each year. Some may also earn much more, depending on a few factors. Your increase may depend on things such as your location, your school (sometimes, if the employer cares about where your degree came from), your experience, what industry you are in, and more. For more insight and a few examples of prospective salaries depending on the industry, you can check out this Coursera article.
How long does it take to get an online MBA?
The length of time it takes to earn your MBA can depend on a few things. For example, if you are taking a one-year program, you might be able to finish it as quickly as nine to twelve months. If you take a full-time program, you can finish within the expected time frame of one to two years. Part-time can take you as long as four years, depending on how much time you dedicate to your studies. MBAs generally require about 30 – 50+ credit hours to complete, at an average of two to three years.
Is an MBA for You?
Only you can decide which of these best online MBA programs are right for you. You’ll need to consider a few things, such as the cost of your education and whether it makes sense with your career goals. But since career and salary prospects for MBA graduates seem to be good even during a pandemic, it may be worth considering!
If you’re considering a graduate program, check out our article about how to pay for grad school.
Chriselle has been a passionate professional content writer for over 10 years. She writes educational content for The Grad Cafe, Productivity Spot, The College Monk, and other digital publications. When she isn't busy writing, she spends her time streaming video games and learning new skills.
