The reasons to pursue your Master of Business Administration (MBA) are countless. An MBA can expand your knowledge and your professional network. It can teach you valuable lessons, both of the life and business variety. And, it may prove to be an excellent way to boost your salary, as well as increase your career prospects.
Once you’ve decided that you want to pursue your MBA, you’ll need to decide which educational route you want to take. For many, concerns about stepping back from potential near-term career growth and diverting time and attention away from family and life goals make going back to school difficult. Luckily, in today’s digital age, there are plenty of options for people who want to juggle their careers, personal lives and continuing education.
The Online MBA at Northeastern University’s D’Amore-McKim School of Business offers professionals a valuable education that’s affordable and easily accessible. Whether you’re focused on advancing your career, starting a family or have just completed your undergraduate degree, an Online MBA can be an excellent way to broaden professional pathways and potentially earn more.
Here are six ways an Online MBA can benefit you:
1. Become Familiar with New Technologies
The most obvious distinction between an on-campus program and an online one is the intensive use of technology used to complete lessons, tasks and assignments. In today’s increasingly digital world, more exposure to new technology is usually a good thing.
The Princeton Review pointed out that more companies, like Adobe and ANGEL, are catering their products to online education programs. These can make lessons more engaging while giving the student more exposure to innovative platforms.
2. Learn How to Effectively Communicate Online
Most people understand the importance of volume, tone and body language when speaking with others in person. When communicating with people electronically, these critical devices aren’t available to help clarify the meaning of a message. It’s not always easy to understand how the person you’re communicating with will receive your message, U.S. News & World Report pointed out.
The only way to improve your online communication skills is through practice. When you begin an Online MBA at Northeastern University, you’ll need to hone these skills quickly. Between peer discussions and conversations with your professor, you’ll have countless opportunities to craft your online communications skills.
3. Study from The Comfort of Your Couch, Coffee Shop or Corner Office
Pearson Review explained that most online programs offer a variety of synchronous and asynchronous classes. Synchronous classes are held at a scheduled time, and you must log on at that time.
Asynchronous classes are always available. Students can access these lessons on a Saturday morning, or after they leave the office for the day, or on their lunch breaks–whenever they have a free hour or so, they can engage in that lesson.
When your lessons are accessible 24/7, and lectures are videotaped and available online, squeezing class time into an already crammed schedule doesn’t have to be so difficult.
4. Review and Remember What You Learned
Education experts are in increasing agreement that multimedia tools provide students the best opportunity to retain their knowledge, U.S. News & World Report explained. Online MBA programs have multimedia diversity to spare, with interactive infographics, animations, videos and more.
In addition to providing you with a large range of creative teaching methods, an Online MBA program will also give you the opportunity to re-watch lectures. Your on-campus counterparts may envy your ability to rewind and rewatch a lecture in preparation for an exam.
5. Get to Know Diverse Classmates
The beauty of MBA programs is that they’re applicable to many industries and career paths. Online MBA programs bring this diversity to a new level by making lessons available anywhere.
According to data collected by U.S. News & World Report:
• The typical Online MBA student has eight years of professional experience.
• 9.4 percent of Online MBA students are in the military or are veterans.
• 91 percent of students were working full time when they enrolled.
Though the average Online MBA student is 33 years old, The Princeton Review noted that these degree programs attract students of all ages and walks of life. Online students meet in the virtual classroom from different corners of the country, and maybe even internationally.
Interacting with people who have different life experiences teaches business students how to consider different viewpoints and opinions. This can only help in a business environment, where leaders are expected to consider a decision’s impact on various audiences.
6. Boost Your Salary
A common reason to pursue your MBA is to increase your earning potential. U.S. News & World Report wrote that the typical salary of an Online MBA enrollee during the 2015-2016 school year was slightly above $79,000. Meanwhile, the typical salary three months after graduating from an Online MBA program is close to $97,000.
Though it’s generally well-known that most MBA graduates will enjoy a higher salary than before they earned their degree, the cost of education is one aspect that may hold some people back. Online programs offer an affordable option for students. Northeastern University’s Online MBA, for example, costs $1,560 per credit hour. With a 50-credit-hour curriculum, the total cost of the MBA through Northeastern’s online program is $78,000–of course; there are plenty of scholarships that can bring that cost down even more.
At a time when the cost of a full-time MBA program continues to soar, this affordable option is refreshing. According to Poets & Quants, the trend of increasing costs for earning an MBA has pushed some universities’ tuition prices over the $200,000 mark. Even some of the more affordable options are now more than $100,000.
Beyond the ability to offer a quality education at a lower cost, Online MBA students have another financial advantage over those who choose to study full-time on campus: They don’t have to give up their jobs. Since they’re able to continue working and earning as they complete the program, the cost of tuition isn’t as burdensome.
Additionally, it’s typical for online programs to allow students to space out their courses so they take them at a pace that’s affordable for them.
Thank you for your interest in Northeastern University’s D’Amore-McKim School of Business! I am thrilled to be the school’s inaugural Dunton Family Dean, and I pledge to invest my time and energy into making our student experience not only stimulating and enriching, but literally life-changing, as they become even better thinkers who are truly prepared for the future of work.
Our business school has built and sustained a legacy of excellence for nearly 100 years. We’re truly global in every sense of the word. We’re innovative. We’re agile. We’re resilient. We have a strong global network. We attract some of the best and brightest faculty and student talent from all over the globe. Our expertise in experiential learning is pioneering and transformative. We’re in Boston – one of the world’s most vibrant talent economies. We have something very special here.
D’Amore-McKim faculty, staff, students, alumni, donors, and friends are all invested in each other’s success, and collectively this community has helped to raise the standards of our school. Our trend for the past decade has been to move consistently upward. I am committed to helping continue on this trajectory as we inspire those around us through our research, our teaching, and our engagement with the world.
Dunton Family Dean
D’Amore-McKim School of Business