The cost of acquiring an MBA is not to be sniffed at. At some of the most prestigious schools in the US, the price of obtaining such a qualification can often add up to the hundreds of thousands making the financial investment one of the main considerations for aspiring MBA students.
However, there are a number of factors to take into account, the main being the increase in salary once qualifying with an MBA. It appears that an MBA is an important asset for budding entrepreneurs as well as being a qualification held by many Fortune 500 executives including Facebook COO Sheryl Sandberg and Walmart president and CEO Doug McMillon.
More and more people around the world are seeing the value of investing their time and money into an MBA program and the rewards are speaking for themselves.
With changes afoot in the way students can study for an MBA, news will be welcomed that students are able to commit to studying for the coveted qualification online. And that’s not all, many online establishments will allow students to choose between several concentrations to align with their professional goals.
But how achievable is it to qualify with an MBA online? Enrollment in online learning programs have grown over the past few years with more than a quarter of students enrolled in at least one online course. There is a misconception that an online degree doesn’t carry the same level of prestige as a traditional one. However, should you choose an establishment like Suffolk University Online MBA, then not only will you qualify with a recognized and respected online degree, but you will also have had the opportunity to hone skills such as self-motivation and time management.
However, online students often find that when studying at home it is easy for little things to chip away at the time they have set aside for their studies so it is important to make sure that those closest to the student understand the commitment they have made. Aspiring students are encouraged to read the curriculum and know what is expected of them before committing to online studies. Assessing the workload in advance and making note of important dates, key textbooks and essential materials is an essential part of planning for an online MBA.
Managing Time
Students who embark on an online degree often do so around existing commitments. Many students plan to learn and earn at the same time or fit studies around family life. Managing time wisely is paramount for keeping on top of workload as is setting small achievable goals for each day and breaking everything down into manageable tasks. Almost half of online MBA students admit that their program is more time consuming than anticipated and most employed students say that support from their employer was an essential part of the process.
Setting Aside a Dedicated Workspace
The importance of a large, uncluttered workspace where students can work peacefully and without distraction study is vital. However, from time to time, many students find it helpful to venture into a public space to help with study ruts and to keep motivation at a high.
Tapping Successfully into Online Resources
Use of the technology available in an online setting is a vital element in order to maintain contact and build relationships with tutors and classmates. Live webinar links, online forum discussions, business simulations, and one-on-one personal tutoring are just some of the digital resources that can be used whenever or wherever necessary for an online student.
Learning from Your Peers
The global online network of fellow students is a valuable resource and building a positive relationship with course lecturers, tutors and fellow students can be of enormous benefit. Successful students will quickly learn to turn online discussions and forums into an important part of their study hub and this constant networking will build on existing teamwork and leadership skills.
Online MBA students rate their opportunities to create connections with fellow students an 8.16 and the average score for satisfaction in creating good connections with faculty staff is still an impressive 7.97, making alumni networks in online MBA programs an important part of the course.
Overall, online MBA students are giving good feedback after completing their course with 59 percent of graduates managing to secure a job immediately after graduation and 57 percent also getting a promotion as a result of their MBA. Another statistic worthy of consideration is that 66 percent of graduates report that they have managed to apply what they learnt during their MBA in the workplace.