An MBA is one of the most popular graduate degrees in the country. Many people choose this degree option because it facilitates better, more flexible career opportunities and a higher income. If you’re considering going back to school to earn an MBA but don’t know where to start, TopOnlineCollege.com is here to help.
Get ready to learn more about what an MBA degree is, why you should earn one, how it can help your career, and which online MBA programs might fit your needs. Let’s get started.
An MBA stands for Master of Business Administration. This is a graduate-level business degree that focuses on leadership, management, decision making, analytical information, marketing, and communication skills.
Most people who pursue an MBA degree have either recently graduated with a bachelor’s degree and are current business professionals who want to move up in their career, or people looking for a field or career change.
At TopOnlineCollege.com, we help you find the right online MBA program to fit your needs. Here are some of the best online MBA programs for you to consider.
Location: Online (based in Albany, NY)
Cost of attendance: $26,790.00 total (%tuition_2% per year or %tuition_3% per credit)
Accreditation: Middle States Commission on Higher Education
Location: Online (based in Salt Lake City, UT)
Fastest time to graduation: 19 Months
Acceptance rate: 100%
Graduation rate: 50%
Cost of attendance: $7,452.00 per year
Accreditation: Northwest Commission on Colleges and Universities
Location: Online (based in Scottsdale, AZ)
Acceptance rate: 88%
Graduation rate: 67%
Cost of attendance: $25,214.00 total
Accreditation: Higher Learning Commission
Location: Online
Fastest time to graduation: 12 Months
Acceptance rate: 100%
Cost of attendance: $14,148.00 per year
Accreditation: Higher Learning Commission
Location: Online (based in Manchester, NH)
Graduation rate: 54%
Cost of attendance: $15,380.00 per year
Accreditation: New England Commission of Higher Education
Location: Online (based in Orange Beach, AL)
Cost of attendance: $5,533.00 per year
Accreditation: Southern Association of Colleges and Schools Commission on Colleges
Location: Online (based in Chandler, AZ)
Cost of attendance: $28,824.00 total (%tuition_2% per year or %tuition_3% per credit)
Accreditation: Western Association of Schools & Colleges
Location: Online (based in Phoenix, AZ)
Graduation rate: 28%
Cost of attendance: $19,282.00 total (%tuition_2% per year or %tuition_3% per credit)
Accreditation: Higher Learning Commission
Location: Online (based in Minneapolis, MN)
Acceptance rate: 100%
Graduation rate: 27%
Cost of attendance: $24,240.00 total
Accreditation: Higher Learning Commission
Location: Online (based in Colorado Springs, CO)
Graduation rate: 27%
Cost of attendance: $24,143.00 total (%tuition_2% per year or %tuition_3% per credit)
Accreditation: Higher Learning Commission
Location: Online (based in Naperville, IL)
Cost of attendance: $17,808.00 total
Accreditation: Higher Learning Commission
Location: Online (based in West Lafayette, IN)
Graduation rate: 27%
Cost of attendance: In-State is $10,125.00 per year, Out-of-State is $14,436.00 per year
Accreditation: Higher Learning Commission
Our MBA degree rankings are unbiased and strictly based on facts about the schools. We’ve ranked the above MBA programs based on the following criteria:
These rankings should help you find an MBA program that fits your needs.
Many people choose to get an MBA degree to further their education and job prospects. Here are some reasons for you to consider pursuing an MBA degree.
An MBA degree opens up numerous career opportunities in a variety of industries, including:
Whether you earn a generalized MBA or a specialized one, your MBA degree is going to open up many new career opportunities for you.
MBA programs offer various skill training in different areas, including:
With these specialized skills, you can put your MBA degree to use in almost any field or industry.
Individuals with an MBA degree can earn more money than their counterparts. Salaries can range from $60,000 up to $95,000 depending on your location. MBA salaries can also vary based on degree emphasis, with some job positions earning anywhere from $120,000 to $140,000.
Many of the courses in an MBA program prepare individuals for management positions. You learn more about leadership, operations management, and more, helping put you in a better position to move up within a company.
If you are looking to go back to school to earn an online MBA degree, you’ll need to start by looking at potential MBA programs. As you are doing your research for the right online MBA program for your needs, you should consider the following aspects.
The online MBA program you choose will affect how much it will cost. Some schools — Harvard, for example — are more expensive because of their prestige. Additionally, some online MBA degree programs consider online students to be out-of-state students, which prompts them to charge higher tuition fees.
As you look at different MBA programs, consider the cost of each one to determine if a specific school is right for you.
The majority of online MBA programs are completely remote, meaning you can live anywhere in the country and still earn your degree. However, some programs offer a hybrid option, with in-person and online classes. If you are looking at an MBA program that has a hybrid program and you don’t live close enough to attend in-person classes, you’ll want to consider another option.
As mentioned above, online students are sometimes considered out-of-state students for tuition costs. As you consider the location of your potential school, look for an online MBA program in your current state or find a school that doesn’t have this resident requirement to avoid the higher cost.
Do you need an MBA program that is offered completely online? Would you prefer a mix of online and in-person classes? Many MBA degree programs offer flexible options to help students earn their degrees while living the rest of their lives. As you research programs, keep these options in mind to ensure you pick a school that lets you get your degree your way.
One of the main reasons to get an MBA degree is to further your career opportunities. The best MBA programs offer career resources once you graduate. As you research your school options, look for one that either works directly with corporate recruiters, has a high post-MBA employment rate, or both. You’re working hard to earn this degree and you want to find an online program that helps you land a career afterward.
The length of an MBA program can affect which school you choose to attend. If you’re looking for an accelerated program that gets you your MBA degree faster, look at schools that offer this option. If you want to do a traditional two-year program, you can search for those options as well.
Reputable MBA programs should have the proper accreditation to make them valid. Every online MBA program should have three types of accreditation: regional, national, and business.
Regional accreditations include:
National accreditations include:
Business accreditations include:
Look for an MBA degree program that is fully accredited with regional, national, and business accreditations to ensure you are choosing a reputable school.
Here are some questions that we often get asked about online MBA programs.
There are two types of MBA degrees: general and specialized. In a specialized program, most of your classes will be geared toward your specific emphasis. In a general MBA degree, these are some of the classes you will need to take.
An MBA degree gives you flexible career options, which is why so many people choose to go to school for this degree. Some career options include:
You can use your MBA degree to get a job in many different industries, including:
Your average MBA salary will vary based on location and the industry you go into; however, salaries can range from $60,000 up to $95,000. With specialized MBA degrees, people can be earning anywhere from $120,000 to $140,000.
Each online MBA program is going to have different admission requirements based on the school. It is also important to note that MBA programs can be extremely competitive, with some schools accepting up to 50% of applicants and others only accepting 25%.
As you prepare to apply for an online MBA program, you should put your best foot forward and ensure that your application stands out from other prospective students. Here are a few MBA admission requirements that should be the same for every program.
Most MBA graduate programs require prospective students to take and pass the Graduate Management Admission Test (GMAT). The test assesses your readiness for an MBA program as is available year-round so you can take it before an admission deadline. Most MBA programs require a score between 650 and 700 to be considered for admission.
You should aim to procure at least three letters of recommendation from people who know your professional and academic potential. You could ask undergraduate professors, academic advisors, managers, employers, or a mentor to write you a letter since they should have good insight into your potential. Try to ask for your recommendation letters early to ensure you have them before the application deadline.
An MBA program wants to see that you have previous work experience and skills that lend themselves well to this degree. If your work experience isn’t specifically business-related but you have managerial experience and other related skills, it can help put you ahead of other program applicants.
A personal essay is a chance to showcase who you are and why you want to earn an MBA degree. A program may have specific writing prompts that you need to write to, so pay attention to what you’re being asked to write about.
To get an MBA degree, you need to have completed an undergraduate program. Your undergraduate degree does not need to be business-related, but it needs to be from an accredited university. Additionally, you want to make sure your undergraduate GPA is high enough to enroll in an online MBA program. Most programs have a GPA requirement of 3.0, but that can vary from school to school.
The average cost of an MBA degree varies based on your enrollment status (full-time or part-time), program type (accelerated or standard), school type (private or public), and which online MBA program you choose to attend.
With all of those things considered, average program costs can range from $60,000 to almost $200,000.
Standard MBA programs take two years to complete; however, there are also accelerated programs that take anywhere from 11 to 16 months. Most MBA students are still working full-time jobs as they attend an online program, meaning they opt for the two-year program so they can more easily balance both commitments.
When you earn an MBA degree, you’re opening the door to job advancement, new career opportunities, and higher earning potential. With online MBA degree programs, you can complete your degree while still working and living your life.
With our TopOnlineCollege.com information about what to look for in an MBA program and our current rankings, you can research your own MBA programs and find the best MBA degree option for your needs.
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