Various institutions offer MBA programs in different specializations, making it hard to choose a program that is best suited for you. You need to pay close attention when selecting which program to enroll in. The nature of specialization and the training offered determines your marketability as a professional.
Here are some of the common online MBA programs. Finance is one of the most technical areas in business and is in high demand. For these reasons, many professionals advance their education to handle the dynamics involved in this specialty. There are different forms of MBA finance programs available. The most common one is corporate finance.
Corporate finance deals with the financial operations of corporate entities. These include government and private organizations. In an MBA finance training program, you will learn about various quantitative and theoretical approaches to managing finances. Various institutions offer online masters in finance programs. Consulting various stakeholders in the finance sector will help you select one that suits you best. The success of corporations depends on the excellence of management.
For this reason, many employers in managerial positions must have at least an MBA. For those working for big corporations, the best option is an MBA in strategy and operations. This concentration equips you with the skills and knowledge needed to run an organization. With this MBA, you can be a part of the team responsible for planning company strategies and making expansion decisions.
Pursuing an MBA in strategy and operations places you in a better position to rise through the ranks. Most employers look for employees who can be responsible for certain areas of their operations. With this MBA concentration, you can be put in charge of other professionals within your workplace. This is one of the most common yet lucrative MBA concentrations you can enroll in. Marketing is the backbone of all profit-making entities. It involves finding new markets and expanding the existing ones for products and services.
Having an MBA in marketing sharpens your skills, making you an essential part of the organization you work for. With this MBA, you can venture into private service as a consultant. You will be helping individuals and companies strategize on how best to access the market for their products.
Working as an independent consultant is profitable as you deal with more than one client. Additional skills such as efficient communication guarantee a successful career when coupled with this MBA concentration.
Entrepreneurship refers to identifying and exploiting business opportunities in various fields. This process requires a set of technical skills that are explored and perfected with an MBA in entrepreneurship.
This MBA concentration exposes you to ways in which you can create profitable businesses from available opportunities. Additionally, you get training on how to increase the profitability of a business from available resources. The amount of time it takes to complete this MBA concentration depends on a wide range of factors; the main ones are mode of study and institutional policies. Attaining this MBA major puts you in a position to manage expansion projects.
You can also be part of policymaking teams to improve the profitability of the organization you work for. Thanks to technological development, many organizations carry out business across national and regional borders. The differences in culture and national laws between countries have led to a rise in the need for international business experts.
To become one, you need an MBA in international business. This MBA concentration helps you learn how to plan and execute business transactions beyond national borders. Common concepts you will be exposed to include international business law and logistics. Knowing international business law allows you to transact without breaking laws in your region of operation. There are many other MBA concentrations you can pursue through online platforms.
However, the above-named are the most common ones. Before joining an MBA major, you should ensure it is worth your investment. Assessing the amount of time and finances involved in completing the program helps you gauge its profitability. There are several factors you should consider when selecting an online MBA concentration. These factors determine how much you will benefit from the MBA. They include:. There are many more factors to consider when selecting an online MBA program. However, it is hard to tell the exact conditions of any program without consulting a professional from the same program.
There are many ways to know about the quality and suitability of an online MBA program. Thanks to technology, you can read reviews about the program from other MBA candidates in the institution. Good online MBA programs usually attract a higher number of candidates. Additionally, they record high completion and graduation percentages. Such programs are usually classified according to the availability of students.
As stated earlier, accreditation is one way through which the government regulates the operations of stakeholders in the field of business. This organization is responsible for ensuring that professionals receive quality training in the business field. You cannot be licensed to practice as a professional with an MBA from an institution or program that is not accredited.
It is the responsibility of the institution to initiate the accreditation process. The institution then submits the MBA program units in need of accreditation to the Initial Accreditation Committee for reviewing. The institution applying for accreditation should contract an AACSB accreditation staff member for evaluation of the facilities available.
After a review of the units and facilities, a formal application for accreditation is made. The applicant institution should submit an application for eligibility through relevant channels to the AACSB. If the training program is for profit, the institution can apply for both business and accounting accreditation. If the application meets all the requirements, it is submitted to the Initial Accreditation Committee for a final decision. The volunteer mentor should have no conflict of interest and assist in developing the initial self-evaluation report for the institution.
The mentor acts as the main contact person between the AACSB and the accredited institution throughout the evaluation period, after which the institution receives formal communication of eligibility. Although the accreditation process could be cumbersome, institutions should ensure they are accredited for the sake of prospective students.
Accreditation has many benefits for students pursuing online MBAs. Some of the main benefits include:. Accreditation indicates that the MBA program meets the required standards set by the government.
Students graduating from accredited online MBA programs have a higher chance of getting employed. Employers look for skills to promote or employ workers in their companies. Attending an accredited program at university indicates that you have taken the accepted core courses and have the right set of skills to perform various roles as a working professional in the business field. One ultimate goal of being in the business field is to venture into private practice at some point.
Attending an accredited online MBA program is one way of ensuring you get the right skills for your future in business. Before accreditation, experts will analyze units to be covered in an MBA program to determine their suitability, guaranteeing that you can apply whatever you learn during the training program in real-life situations.
Accredited MBA programs such as MBA in strategies and operations prepare you for life as a business owner in the future. There are many more benefits of accreditation to the MBA student.
GMAT, or Graduate Admission Management Test, is an important admission requirement for many post-graduate degree programs in the business field. The GMAT tests the preparedness of candidates for post-graduate training. During the admission assessment, the student admission committee analyzes GMAT scores and work experience to determine your suitability. While most online programs require GMAT tests, some do not insist on going through the tests before admission.
In some cases, you could receive a waiver and gain admittance without meeting the set GMAT threshold score. The main difference is in the content involved. Online MBA programs receive many applications from willing candidates. One of these is administering the GMAT to all applicants for the programs. Only those who attain the minimum score get admission into the program. However, not all programs administer the GMAT tests and use other requirements to determine your suitability for the program.
Some of these requirements include:. Choosing one that is best suited for you could be challenging. However, reading about the programs online will help you identify one that is best for you.
Financial considerations are essential when choosing an online MBA program. Many factors affect how much you spend to earn an MBA. One of the main ones is the MBA concentration you pursue. Technical concentrations are more expensive since institutions invest a lot to facilitate tutoring.
The main expense in every online MBA program is the tuition fee. Enrolling in well-equipped institutions means you will pay more tuition fees. In cases where you find it hard to finance your online MBA program, you can apply for student financial aid. There are many organizations offering scholarships to exemplary students in different online MBA programs. The process of getting the scholarships varies depending on the scholarship organization and the MBA concentration you pursue.
To get one, you must submit a written application either physically or through an email. A selection committee then reviews the application to determine your eligibility. The requirements when writing an application vary depending on the nature of the scholarship. However, some conditions are standard in all scholarship applications. Such requirements include:. There are many other requirements you might be subjected to when applying for scholarships.
Before applying, you should ensure the scholarship is for people on the same educational path as you. Some scholarships are specifically for people in on-campus MBA programs. Applying for such scholarships will be in vain if you are into an online MBA program. Other than scholarships , there are many other forms of financial aid you can apply for to offset your online MBA expenses.
These include student loans and grants. A student loan is a form of financial assistance given by the government or private organizations such as banks. With a student loan, you are supposed to pay the funds back once you complete your studies.
Student loans attract a certain amount of interest depending on the institution giving them out. Grants are mostly given out by the government. Grants are monetary aid given to students to offset their expenditures while at school and are not repaid. However, grants are not common for post-graduate students since most of them are employed and can finance their online MBA program expenses. One of the easiest and most economical ways of advancing your studies is through online MBA programs.
There are many MBA concentrations that you can enroll in, depending on your preferences. The MBA concentration you choose determines your marketability; hence affects your lifetime earnings as a professional.
Online MBA programs make it easy to get a promotion since you can continue working while taking classes. You can attend classes anywhere as long as you have a connection to the internet.
One of the most profitable concentrations to major in is MBA in international business. With the increased trade volumes across national borders, many companies are looking for experts to facilitate international transactions. Other than marketability, the credibility of an online MBA program is a key aspect to look into when choosing a program. Pursuing an accredited MBA program increases your employability as it shows you have received quality training.
You might have to take several tests before being admitted into an MBA program. In some cases, you might not have to sit for the tests when applying for an online MBA program.
However, other requirements, such as work experience, could be used to determine your suitability. Once you gain admission to a program, you can apply for student financial aid to offset your expenses. First name. Top Nav. Search Colleges. Best Online Universities. View All. Without further adieu, here are the most affordable online MBA programs for Featured Online MBA Programs Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
Wallace E. For questions, reach out to tstevens [ ] edsmart. MBA in Finance and Economics Finance is one of the most technical areas in business and is in high demand.
MBA in Entrepreneurship Entrepreneurship refers to identifying and exploiting business opportunities in various fields. MBA in International Business Thanks to technological development, many organizations carry out business across national and regional borders. They include: Marketability of the MBA concentration- One of the main reasons for investing in education is financial gain. The primary source of income for many professionals is salary, which is determined by the marketability of their skills.
Some MBA concentrations are more marketable than others, implying that prospective students are likely to be employed if they pursue a marketable specialization for a working professional. For instance, many corporations are looking to expand operations beyond national borders, an executive MBA in International Business is likely to earn you employment faster.
Some fields, such as entrepreneurship, have few professionals due to the technicalities involved. Pursuing such MBA concentrations guarantees employment or promotion at workplaces.
However, you should pursue a concentration that matches your interest and abilities. Several factors affect tuition rates at online MBA programs, including type of school, enrollment status, and delivery format. Public colleges often offer lower tuition rates than private colleges, and in-state students at public schools often pay lower tuition rates than out-of-state students. However, some public colleges offer in-state tuition to all online students regardless of where they reside.
Enrollment status can also affect tuition costs. A part-time MBA gives students the flexibility to work while in school, but these programs feature a lighter course load each semester, keeping students in school longer and potentially driving up tuition expenses.
Conversely, accelerated programs feature a heavier course load but enable students to graduate sooner. Students should also keep in mind that most MBA programs include expenses beyond tuition, such as application and registration fees, textbooks , and technology costs. Planning for higher education expenses can feel overwhelming, but admissions advisors can assist students in understanding common expenses and other fees associated with college education.
These top, accredited schools offer a variety of online graduate degree programs. Figuring out where to apply? Most MBA online programs take about months to complete. Part-time programs may increase this timeframe, while accelerated programs may decrease it.
An online MBA prepares students for lucrative roles in diverse fields, making the degree a worthwhile investment for many students.
Many schools allow students to complete their MBA online. Other online programs may include some on-campus elements or other in-person requirements. Graduate programs in business offer strong career and salary prospects, and tuition rates typically reflect these professional outcomes.
Online MBA candidates can ease their financial burden by pursuing educational funding sources, several of which we highlight below. Online MBA costs vary widely according to factors such as program length, residency, and enrollment status. Careful research can help students identify the most affordable options.
The list below highlights several ways that students can reduce online MBA expenses. Below are responses from surveyed MBA graduates:. Would I get it knowing what I know now? It just depends.
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