Getting an Online MBA
An MBA or Masters of Business Administration is one of the top degree programs for distance learners in the United States. Earning one of these degrees can be a good way to open up many opportunities for you, but there are a few important things you should know about finding and getting into the right MBA education online program.
Basics of the MBA
The MBA degree emerged in the early 20th century in the United States as a way for business students to set themselves apart from the rest of the competition and to acquire additional leadership experience that would be valuable in the workplace. Over the next several decades, the MBA became increasingly popular and even spread to Europe. Today, students from all over the world are enrolled in MBA programs so they can go further in the business world.
Depending on how much time you have to commit to an MBA education online, you could earn your degree in roughly two years. Some programs, influenced by MBA courses in Europe, are only 10 to 18 months in length. Most of the online programs – some of which are provided through top universities – allow you to choose a full-time or part-time coursework schedule to better fit your needs.
Choosing the Right Program
You may be surprised how many MBA programs are available through distance education. However, not all of these programs are created equal. You need to do your homework and find the best match for your needs.
First, check out the accreditation of the program. Schools which are not accredited do not meet the basic standards for MBA programs so completing such a program will not provide the same level of benefits. You may also not quality for any financial assistance to pay for your education. If the school’s web site does not mention accreditation, ask about it. You can also check with the United States Department of Education.
Second, you need to carefully examine the education online curriculum. You want to make sure the coursework is going to be appropriate for preparing you for your career goals. Look at how the distance education aspect is handled. You do want some interaction with your professors and your fellow students even though you won’t be sharing a classroom or lecture hall together. You also want to be sure the teaching staff is highly qualified and experienced. Novices should not be teaching in an MBA program. Quality programs will brag about the accomplishments of their instructors, plus you can always do some online investigations of the names.
Third, make sure the education online program is going to be flexible enough to fit your needs. Some schools, although a shrinking minority, do require you to at least visit the campus for orientation or take some of your courses on campus to qualify for the distance education portion or even just to complete the MBA. While this might be fine if you live in the vicinity, most distance learners do not.
Getting Admitted
Just because you are choosing to earn your MBA through an education online program, that doesn’t mean you’ll have an easier time of being accepted. On the contrary, you should still be expected to meet the high requirements of other students.
These requirements do vary from program to program. One of the most common requirements is experience. Most MBA programs are only open to individuals who have had at least four to six years work experience, preferably in a related career path. This experience is a necessity for understanding many of the themes and topics that arise in these programs. Without it, you may end up struggling.
Another requirement is the GMAT. Not all MBA programs require passing this standardized test, but most do recommend it for being accepted. If you want to have any chance of getting into the best schools, you’ll need to achieve a GMAT score of at least 600. The cost of the exam in 2009 was $250. While that is a bit steep, the test scores are widely accepted and the same exam is used for students around the globe.
If you don’t want to take the GMAT, some MBA programs will accept the GRE. The cost is less at $140. However, you need to find out the specific requirements for the programs of interest to you before you sign up for any of the exams.
Some schools, as mentioned before, do not require the GMAT. However, they may have other requirements, such as essays or tougher work requirements.
Completing the Program
If this seems like a lot of work, your education online will pay off. An MBA is a very lucrative degree to have and can increase your salary potential immensely. According to studies conducted by the Graduate Management Admissions Council, salaries can increase by as much as 50% once someone successfully completes an MBA.
Now there’s no guarantee that your boss will suddenly give you a promotion so it’s a good idea to discuss your decision with your boss and see what an MBA may do for you in your current position. Of course, having this degree in hand will make it easier for you to obtain higher positions within other companies, too. Overall, completing your MBA online is a smart career decision you won’t regret.