The 2020 Guide to Online Masters in Business Administration (MBA) Programs
The Master of Business Administration, or as it's commonly called MBA, is a graduate degree achieved at a university or college that provides theoretical and practical training to help graduates gain a better understanding of general business functions. An MBA can include a variety of specialties or focuses such as accounting, financial management, and business analytics. Central to any traditional MBA program are key lessons in managing a business or business function and a broad curriculum designed to prepare graduates to be effective leaders within their field.
It's common for busy working professionals to wish to gain an MBA in order to gain futher expertise in business and advance their career. In many cases the most efficient way for these professionals to gain a graduate degree without having to pause their job and sacrifice income is to enroll in an online MBA program. Fortunately, as we continue to advance modern technologies, MBA programs that can be completed entirely online are becoming much more prevalent and abudant.
Why Should You Get an MBA Online?
There are many reasons one might consider getting an online MBA degree, from enhancing their earning potential to gaining a speciality in a new field. One of the best things about MBA programs is the versatility in both coursework and career opportunities that they offer.
A Master of Business Administration traditionally prepares graduates to pursue careers in the private sector in fields such as finance, marketing, and management. Some students equipped with an MBA, however, opt to use their newfound skills to tackle philanthropic or social issues, such as education reform, by working in the public and nonprofit sectors. Some of the skills one develops in an MBA program, such as leadership and public speaking, are universal and can be applied to a broad range of careers.
Finding The Best Online MBA Program For You
In searching through the many MBA online programs that exist across the country, it’s important to weigh a variety of factors in determining which program best suits your needs. A few main points to consider are GMAT and standardized testing requirements, the accreditation status of the program, and the length of time the MBA program takes to complete. Below are a few featured online MBA programs that might a great fit for working professionals across the country.
Sponsored Online MBA Programs
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Before you begin the application process, be sure to contact your accredited institution for information about any prerequisites you may need to fulfill. The majority of comprehensive MBA programs will ask you to submit the following items in order to be considered for admittance:
Fill out an initial application, which you can find on the website of the accredited institution of your choice. Although paper forms are generally accepted, many institutions have switched to online applications as the preferred method.
Test Scores: GMAT or GRE
MBA programs have historically preferred to either receive an applicants GMAT scores or GRE scores. These tests can be taken, for a fee, at various points throughout the year. Some institutions include a GMAT/GRE waiver if the applicant in question has enough professional work experience.
Request transcripts from your bachelor university and any other attended institutions before the application deadline, and upload one official copy of each transcript to reflect your academic record.
Resume/CV: Upload a copy of your most recent resume or curriculum vitae as part of your application.
Application Fee: Submit your letters of recommendation. The number of letters required varies with each school. Be sure to request them well in advance of the deadline.
Write a personal statement, which is typically in the form of an essay. You may be required to submit multiple essays to fully express the intent and purpose of your application. Below are some common topics that should be mentioned in a statement.
Your main academic and personal interests
Experiences in school or work that have helped to prepare you for this course of study
Why you wish to study for the degree you’ve chosen
Why you wish to study at the university
Your plans for the future after you earn your degree
Note: Some additional measures are needed for international students. If you are from a country outside of the United States, check with your chosen school/schools to see what is needed from you.
Online MBA Program Curriculum
The curriculum and how many credits are required to graduate vary greatly depending on the school and whether or not you have a specialization. The number of required credits in most standard MBA programs usually falls between 48 and 62 credit hours, though some executive MBA programs can be completed sooner. Typical MBA coursework includes courses in:
Information Technology and Systems
Online MBA Program Concentrations
One of the best things about masters in business administration degree programs is how highly customizable they are. There are numerous MBA concentrations that exist so that people can tailor their degree specifically to their business interest. Below are brief descriptions of just a few of the many MBA concentrations that are available to students - in both on-campus and online masters in business programs.
Students in programs focused in finance learn how to analyze financial data to inform business decisions and assist executives in carrying out internal processes. .
Students in marketing MBA programs might learn how to create a marketing plan, manage and analyze marketing campaigns, and implement promotional plans for a company. .
Students in analytics MBA programs will gain valuable insight into quantitative processes and analytics tools employed by corporations to forecast trends and influence strategy.
Although more general than other concentrations, MBA programs focused on strategy carry meaningful lessons in long term planning, operational management, and vision mapping.
MBA programs tailored towards those with an entrepreneurial spirit focus on all the intricacies of getting a business idea off the ground: from funding to marketing to scalability.
MBA students focused on project management learn how to lead a project from start to finish and are specifically equipped with leadership and delegation skills from their coursework.
What Can You Do With An Online MBA Degree?
Recent graduates of MBA programs have a wide variety of career options to choose from. Below are just a few of the typical careers (and their average salaries) that students enter into upon graduation:
Although the careers outlined above are common jobs for MBA graduates, one of the best things about the degree is the freedom it grants you. Graduates can also pursue options that marry a love of business with a love of something else like philanthropy or education.
Featured Online MBA Programs
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Teach.com has compiled a list of online masters in business administration programs from across the United States and has included information about their testing (GMAT or GRE) requirements, their accreditation status, and the length of time they take to complete. Look through them carefully before determining which is the best online MBA for you!