Every year, thousands of students and professionals in the United States pursue an online MBA, and with good reason. A Master of Business Administration (MBA) degree can have a notable impact on your career, preparing you to lead organizations using excellent communication and business skills.
However, an in-person, full-time MBA program can be challenging for working professionals. This is where online MBA programs come in. They allow students to learn career-relevant skills with little to no interruption to their professional obligations.
Here’s a closer look at the ins and outs of an online MBA program, how long it takes, what things you should consider, and what to expect.
Table of Contents
How Long Does an Online MBA Take?
Most full-time online programs take about two years. In comparison, part-time degrees can take three years or even longer. Most working professionals prefer accelerated online MBA programs that take about one year to complete. For further guidance,
Many universities allow students who have extensive work experience and a relevant previous degree to transfer credits. You can complete the program even more quickly. To understand further, you can read a detailed guide on how long it takes to get an MBA online from the University of Phoenix.
Does Things to Consider When Applying for an Online MBA
Not every MBA program is the same. Some have longer timelines, while others require higher tuition. Prospective MBA students need to consider factors before applying. For example, if you’re exploring programs in healthcare, you may want to compare an MBA in healthcare administration vs. MHA to understand which path better aligns with your career goals. Here are some other examples to think about:
Accreditation
Make sure the university you’re applying to has been accredited by relevant bodies. For example, in the U.S., the U.S. Department of Education (DOE) and the Higher Learning Commission (HLC) recognize universities.
Teaching Faculty and Course Content
Teachers and professors with extensive experience in the corporate and business world can make all the difference in an MBA program. The course content should reflect real-world training and insights.
Cost
Assess how the online program you’re interested in will cost. Paying for your academic journey is an investment, so look into financing options and choose the best program possible.
Financing Your MBA
While the cost of an online MBA program is lower than most traditional on-campus programs, paying fees while supporting your family can be challenging. Luckily, prospective students can explore a variety of options for funding their studies, such as:
- Loans
- Grants
- Scholarships
- Employer assistance
Those who could use the MBA designation at their current jobs can greatly benefit from employer reimbursement programs.
Preparing for an Online MBA
Balancing personal life, work, and your studies can be challenging. However, there are some ways to survive with as little stress as possible. Start by mapping out a schedule and making necessary lifestyle changes. Reach out to your employer and let them know your plans. Don’t overburden yourself and seek help from friends and family if needed.
Pursuing an online MBA program is one of the best ways to set yourself up for professional success. Remember to choose the right institution and consider finances beforehand to avoid any surprises.