Thinking about going back to school while keeping your full-time job?
You are not alone. Thousands of working professionals do the same thing every year. The majority of them choose to pursue an online MBA.
Here's why:
It fits around your work schedule
It doesn't make you choose between a career and education
It still carries the same weight with employers as a campus MBA
But here's the catch...
Not all online MBA programs are designed with adult learners in mind. Choosing the wrong program can waste your time and money.
Here's everything you need to know about earning your MBA online as an adult student -- and how to choose the best program for you.
Let's jump in!
Here's what's inside:
Why Online MBAs Make Sense For Working Adults
What To Look For In An Online MBA Program
Balancing Work, Life & Study
Common Mistakes To Avoid
How To Get Started
Why Online MBAs Make Sense For Working Adults
The world of business school has changed completely in the last 5 years.
Online programs are no longer your "second option." They're your first choice -- and enrollment stats prove it. By fall 2023, 58% of all MBA students were learning online. That means there are now more online MBA learners than on-campus students.
Why the big shift?
Do you ever feel like you could use a taste of the professional world in your classes? Adults have real lives. They work jobs, have children, mortgages and meetings to attend. Crashing around in a lecture hall on Tuesday night just isn't enough. You can, with an online MBA.
Keep your full-time job
Apply what you learn in real time
Study from anywhere with internet
Move at a pace that fits your life
Educational programs such as an online MBA Leadership program are designed with working adults in mind, those who wish to further themselves into management and executive positions without having to put their careers on hold. That can be a game changer when balancing a career, family and graduate degree simultaneously.
And the return on investment is real...
Graduates with MBAs can expect an average salary of $165,372. (As of November 20). That could be a life-changing increase for a mid-career professional wanting to reach upper management or break into a new field completely.
Pretty solid reason to consider it, right?
What To Look For In An Online MBA Program
Not all online MBAs are created equal.
When earning your MBA online as an adult learner, it's important to focus on what matters. Here are 3 things to look for before signing up for anything.
Accreditation
This is the very first thing to look at.
An accredited program (AACSB, ACBSP or IACBE) assures employers that your degree is legitimate. If your MBA program is not accredited, your degree may not have the credibility you will require when seeking promotion or another job.
Skip any program that isn't properly accredited. No exceptions.
Flexibility
Adult learners need flexibility -- there's no way around it.
Look for programs that offer:
Asynchronous classes (so you can study when it suits you)
8-week or accelerated terms
The option to pause if life gets in the way
Mobile-friendly learning platforms
If a school won't offer flexible live class times outside of normal business hours, they are NOT made for working adults. SKIP THEM.
Curriculum & Concentration
An MBA gives you a grounding in the fundamentals of business: finance, marketing, operations and strategy. A great MBA allows you to specialize in areas that align with your career aspirations.
Common concentrations include:
Leadership
Healthcare management
Finance
Data analytics
Marketing
Choose a concentration that aligns with your career plans for the next 5-10 years. Don't choose one because it "sounds cool."
Cost & Financial Aid
Be honest with yourself about what you can afford.
Online MBA programs range drastically in price -- from approximately $10,000 to $100,000+. Often employers will provide tuition reimbursement, so be sure to check with your HR department before enrolling.
Balancing Work, Life & Study
Here's the truth nobody really tells you...
Getting your MBA while working full-time will not be easy. However, with proper planning and expectations it is definitely possible.
Career advancement tops the list at over 50%. That means getting a better job is the number one reason adults return to school. So when it gets hard -- and it will -- remember why you started.
A few tips for keeping things on track:
Block your study time: Treat it like a meeting you can't miss
Tell your family: Get them on board early so they back your goals
Use your job as a lab: Apply class concepts at work right away
Don't be a perfectionist: A B+ that gets turned in always trumps an A+ that doesn't
And here's the cool part...
Approximately 89% of professionals pursuing MBAs are working when they graduate. That means your network and your degree are collaborating to prepare you for life after graduation.
Common Mistakes To Avoid
Online MBA students make many of the same mistakes when choosing which degree to pursue. Avoid these errors:
Mistake #1: Choosing a program solely because of the cost. Inexpensive programs sometimes equate to poor quality curriculum or lack of accreditation.
Mistake #2: Not considering the school's reputation. Employers do care where you received your degree from.
Mistake #3: Underestimating the time commitment. Plan for 15-20 hours per week per class.
Mistake #4: Neglecting the support services. Career coaching, alumni connections and academic advising are big deals.
How To Get Started
Ready to take the next step?
Begin by creating a short list of 3-5 schools that match your objectives. Now go through this easy checklist-
Check the accreditation
Look at the flexibility and format
Compare the costs and financial aid options
Reach out to admissions advisors
Talk to current students or alumni
Many schools will allow you to observe a class or speak with an actual student. Take advantage of that opportunity. It's one of the best ways to determine if a program is right for you and your lifestyle.
Final Thoughts
Pursuing your MBA online as an adult student is one of the best career decisions you can make.
It gives you:
A serious boost to your earning potential
A clear pathway into leadership and management roles
Real skills you can use at work tomorrow
A degree that fits around your life, not the other way around
Deciding to get started is the difficult part. After that, everything is easy. Choose a convenient program that's accredited correctly and fits your needs -- and quit delaying your professional development.
Your future self will thank you.
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