Top Career Benefits of Pursuing an Online MBAOctober 22, 2013
The gold standard of business degrees and one of the most prestigious postgraduate credentials available today, the Master of Business Administration (MBA) is touted as the answer to professionals seeking career advancement and all-around personal satisfaction. Research by the Graduate Management Admission Council shows a definite link between MBAs and employability, professional development, and personal fulfillment among graduates.
Despite studies arguing that the MBA has become obsolete in today’s economy, the fact remains that the demand for MBAs is rising. Between 1970 and 2009, the number of MBAs and other advanced business degrees awarded by US schools grew from 26,000 to 168,000 per year. This upward trend also holds true for degrees earned through online MBA programs. Below are some of the top benefits of pursuing an MBA.
MBAs offer professionals an opportunity to change their career trajectory or move up in their respective fields. An advanced business degree is a permanent asset that opens doors to an array of employment opportunities in administrative, consultancy, and managerial capacities, among several others. Eighty-seven percent of 2012’s MBA graduates believe that earning the degree put them on the fast track to career advancement, and with good reason: GMAC’s Corporate Recruiter’s Survey for 2013 showed that 3 out of 4 employers plan to hire MBA degree holders within the year.
According to GMAC’s 2013 Alumni Perspectives Survey, the median starting salary for an MBA degree holder is $100,000 annually regardless of graduation year1 Even taking into account tuition, miscellaneous fees, and interest on student loans, MBA degree holders can expect a full return on investment within a decade post-graduation, with the average being four years.
MBA programs are designed to equip would-be entrepreneurs with a slew of basic business skills—everything from drafting business plans to acquiring venture capital, all of which are critical in launching a startup. Real-world figures show that MBA-led businesses are about 50 percent less likely to fail than startups spearheaded by non-MBA holders.
Eighty-nine percent of MBA graduates credit their program for giving them the opportunity to form an active professional network. Connections and referrals are a valuable asset for professionals hoping to score promising positions in the market. Throughout the course of the program, MBA students are thrown into contact with their business school’s faculty and alumni base as well as with established industry leaders and mentors.
Flexibility and Convenience
A benefit unique to degrees earned via online MBA programs, this last point is no less significant than the rest. Programs like the University of Northwestern Ohio MBA, for instance, provide an alternative for full-time professionals who want to earn an online MBA in Ohio without having to put their careers on hold. While similar in content to traditional MBA coursework, an online MBA offers more practical benefits for students in terms of access, time, and travel.
All things considered, an MBA is a sensible investment that pays dividends later on. To learn more about the UNOH online MBA program and invest in your career, click here.
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