The importance and relevance of the MBA have been put in question by some over the years, but we’re now realizing how important it is to have a sound business foundation. While entrepreneurs are coming from increasingly diverse fields these days, those with an MBA are the best equipped to deal with disruption. They are also the people who have less difficulty adapting and pivoting. Online MBAs are also getting more recognition, though they’ve been getting more attention before the recent events. And they are showing how valuable they are thanks to the convenience they offer. Let’s take a look at a few reasons why now could be the best time for you to get an online MBA.
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Online MBAs are Better than Ever
Long gone are the days of diploma mills, and online MBAs today offer the same level of education traditional MBAs do. Do not expect recruiters to be able to sniff that online MBA on you either. As long as you get it from a reputable and accredited school, it’s all that matters.
There is nothing on the face of an MBA degree that says that it was acquired online. The only thing recruiters will be interested in is how respected the school and program are. Online MBAs also offer many academic advantages over the traditional ones people often don’t know about.
For one, you’d be surprised to know that teaching staff can be even more accessible online. That’s because you can communicate with them without interrupting the flow of a lecture. You can have your questions answered the moment they have the chance, and they can process more questions in less time in this format. Teachers also do a great job at being available outside of class as well.
The Changing Nature of the Marketplace
Before now, you could be an entrepreneur and not know much about things like Six Sigma, lean, and agile. Those who don’t, however, are now struggling to keep up.
As an MBA, you will know everything about the latest trends in management. You will learn about new working methodologies that are tailor-made for an ever-changing environment. Remote working and project management comes to you naturally. Non-MBAs had a good run, but it will be very difficult for them to compete in this new world without understanding these core principles.
If you want to know more about how those with an MBA will have a serious leg up in this new economy, we strongly suggest you check out this page.
Earn While you Study
Not all of us have the luxury of being able to stay at home and study. Some still have businesses to attend to while others have positions which makes it hard for them to get back to school. Online MBAs, however, offer flexibility and allow you to fit schoolwork around your schedule. This could be the perfect opportunity for a business owner who feels they might be falling behind.
You can take an online MBA on your own time, whether it’s on the weekend or in the evenings. Some will require that you follow a schedule while others will allow you to watch lectures when you want within a set timeframe.
This is also a good option for those from other fields like engineering wanting to transition into management without leaving their job. This allows them to apply some of the principles they learn in the MBA in their functions and open themselves for advancement while they’re studying.
The Chance to Build a Diverse Network
Another major benefit of online MBA programs is the diversity of the student body. MBAs tend to be diverse no matter the format, but even more online.
Online MBAs attract a lot of professionals and business owners, which allows you to get an idea of what life is like on the other side. The program tends to attract a lot of international students as well. This could give you the chance to learn about foreign markets and opportunities.
Online MBAs Allow You to Save Money
First of all, you shouldn’t expect to make huge savings on tuition if you go for an online MBA. The tuition is about the same as with traditional programs. However, you’ll be able to save in many other ways. You won’t have to spend as much on books, and you won’t have to worry about commuting. No campus fees either. It’s much easier to stick to a budget when you’re home and not in a dorm room in a city that might be more expensive than yours.
Remove Physical Limitations
Another reason why online MBAs are so great is that you’ll now be able to consider many more schools. Wherever you are in the world or the country, you can go for schools you otherwise wouldn’t have considered. This can give you more options if you weren’t able to get accepted to a school near you or have a limited choice where you are.
Demand for MBAs is Going to be Through the Roof
Last, but not least, we can expect the demand for MBAs to grow significantly over the next few years. Not only that, but the demand is coming from all sorts of different sectors, like health care, for instance. That’s because there’s an increased need for qualified health managers with MBAs. The demand for healthcare administrators and executives is expected to grow by a whopping 32% within the next 10 years.
Traditional fields like finance will also see a lot of growth for MBA jobs. Demand for market research analysts is expected to grow by 18% leading into 2029 according to the BLS. Jobs for management consultants, or management analysts as they are commonly referred to, is expected to grow by 20%. In total, business, finance, and management occupations are expected to add more than 1.5 million jobs to the US economy by 2029.
As you can see, there are tons of reasons why now could be the perfect time to consider going for the online MBA. Dispel all myths and preconceptions you had about them and talk to a counselor or someone who had the chance of going through one of these.