The reasons for doing an Online MBA are varied. Some degree-seekers want to use the Online MBA to get ahead in the workplace, and others are just looking for a knowledge bump. Here are some common reasons why people pursue an Online MBA program.
Using an Online MBA to climb the ladder
A major reason why many pursue an Online MBA degree is simply to get to the next step in their careers. They might be angling for a promotion in the company they are currently working in, or maybe they have their eye on a sweet management job in a competing firm.
While an Online MBA isn’t necessarily the best way to make a large change, such as transitioning to a new country (a full-time MBA is probably more appropriate for this), an Online MBA can certainly be leveraged to make smaller jumps.
Using an Online MBA to get a salary increase
Another reason why students pursue Online MBA programs is comes down to brass tacks: getting a salary increase. The knowledge and business skills gained through a distance learning-based business degree can be incredibly valuable to many firms, and many are willing to pay for this. For example, the average salary increase for graduates of the best Online MBA degrees, as surveyed by The Financial Times, is over 30 percent.
Using an Online MBA to network
Although it’s not obvious, an Online MBA can help participants make robust connections and can present many networking opportunities. Although you will not be in an actual ‘classroom’ with your distance learning colleagues, you will be able to get to know them intimately, through discussions, doing business cases, and engaging in other ways. This can of course lead to networking. Business schools might also provide other chances for networking, including virtual careers fairs, online Q&As, and other opportunities.
Using an Online MBA to improve one’s business knowledge
At the heart of all online degree programs is the accrual of knowledge. Those pursuing Online MBA degrees will have many opportunities to improve their business knowledge, and much of it will happen outside of textbooks. Online MBA students have many opportunities to pursue electives, and some degree programs even offer the option of specializing in a specific topics, such as finance, supply chain, or business analytics, for example. Also, business case studies and hands-on projects can help students understand how to apply their business knowledge to real-world environments.
Using an Online MBA to stay low-risk during the COVID-19 pandemic
With the COVID-19 pandemic, many would-be students are deciding to avoid gatherings—including classroom settings—for their own well being. This might put those who would normally pursue a campus-based MBA in a bind. However, for these potential students, an Online MBA presents a possible low-risk alternative. After all, the Online MBAs on offer at many business schools can be completed entirely from the comfort of one's home, which is a great way to spend time social distancing.