Overview On Online MBA Education And Its Scope
Online MBA Program
Distance Online MBA program education has come a long way in recent years, both in terms of the quality of provision and the format’s reputation. Advances in learning technology, increased connectivity and the entering of bigger and bigger players into the market all add up to mean that an online program can no longer be considered a poor relation to its full-time equivalents.Common specialization courses like Finance, Human Resource, Information Technology, Logistics & Operations, Sales & Marketing, Retail, Accounting, Sports, Environment, etc. are available for doing Online MBA from. Students generally prefer doing Online MBA because of its advantages compared to the full-time MBA course like:
Advance your career- A growing number of companies worldwide view MBA from a top business school as an essential qualification for entry-level management positions.
There are many accredited online MBA programs- Contrary to popular belief, online MBA programs aren’t just a scam created by unaccredited diploma mills. Several online MBA programs are in the list of programs approved by the three major accrediting bodies – AACSB, AMBA, and EQUIS. Since the number of online MBA programs is on the rise, it is likely that more top business schools will add online programs.
Get the same curriculum as an on-campus program from your own home- Most of the schools listed in the ranking offer online students the same MBA curriculum that is taught on campus, and usually from the same faculty.
You don’t have to relocate– In order to participate in the online MBA program of your choice. Hence no extra spending of money for boarding near campus.
Freedom to relocate for work- Since online MBA programs aren’t location dependent, you can move or change jobs, even serve in the military, and still be able to complete your MBA. Lieutenant Colonel Scott Coulson, a graduate of the W.P. Carey School’s online MBA program, was able to get his MBA from Afghanistan while serving in the U.S. Army.
You can take courses while travelling- Many online MBA programs in 2014 Distance Online MBA Rankings have students that participate in coursework while on business trips.
You can get your MBA while working- Getting your MBA online means that you can keep your current job, and your current salary. In addition to the financial benefits, you can also get more work experience and apply what you learn to your job as you learn it.
Convenience- In addition to taking courses from home, many of the services you’d get on-campus (library, career counseling, etc.) are available online. For example, many of the programs listed deliver materials before the start of the program and make it so you can access all the materials you need online.
Flexible scheduling- An online MBA is one of the most flexible MBA options out there. Since many programs use asynchronous technology, such as message boards and email, you can respond at your own pace. The real-time (aka synchronous) aspects of an online MBA program, such as videoconferencing, can be completed from your home, making it easier to fit an MBA into your schedule since you don’t have to commute.
Online MBAs are usually cheaper than on-campus ones– since there are fewer infrastructure costs associated with online MBA programs. For example, an online MBA program doesn’t require that new classrooms be built. In addition, you don’t have to pay fees for on-campus facilities such as library fees or internet fees. You also don’t have to pay costs associated with commuting. Since these programs are cheaper and allow you to continue working, online MBA graduates usually have an easier time paying off their college loans.
The career options post Online MBA is equivalent to full-time MBA, considered to worth that position! Common employment options include positions in marketing, finance, accounting, operations, operations, and management. Recipients of an online MBA degree can also find employment at corporations, non-profit organizations, and other government institutions. Some of the prestigious positions you can own after Online MBA are as followings:
Marketing managers work with other professionals to create specific marketing campaigns with the intent of increasing awareness and sales for a product or service. They can also serve as the point of communication between the clients and the in-house creative staff that executes the marketing strategy.The U.S. Bureau of Labor Statistics (BLS) stated that the average salary for marketing managers in 2014 was $137,400. The BLS also projected a steady 12% growth rate in employment opportunities for marketing managers from 2012-2022.
Financial analysts provide support and advice to companies, individuals and organizations looking to assess their investment decisions. Responsibilities can range from analyzing the stock market to creating investment portfolios. Individuals interested in specialized or advanced positions obtain a master’s degree, such as an online MBA. According to the BLS, financial analysts earned an average salary of $92,250 in 2014. The bureau also noted that job opportunities for financial analysts are increasing faster than the national average, at a rate of 16% from 2012-2022.
Accountants are responsible for ensuring the accuracy of monetary reports, preparing and filing taxes, and assessing financial records and stability. Several professionals choose to become a Certified Public Accountant, in addition to their master’s degree, to increase job prospects in the field.Accountants received an average salary of $73,670 in 2014, according to the bureau. The BLS also stated that job opportunities for accountants will increase at a 13% rate from 2012-2022.
Compensation for MBA graduates varies greatly depending on the type of business, as well as where the job is located. For example, according to PayScale.com, annual salaries in 2013 for MBA graduates might range from a low of $43,948 for an operations manager to more than $213,000 for a chief financial officer.
The 10th-90th percentile salary ranges for some popular jobs held by typical MBA holders in 2013 are as follows, according to PayScale.com:
Senior financial analyst: $59,403-$98,666
Information technology project manager: $61,070-$125,692
Chief financial officer: $77,143-$213,970
Financial analyst: $44,522-$88,151
Marketing director: $52,811-$153,090
Pay ranges for MBA holders also vary according to geographic location. PayScale.com reports median salaries for MBA holders in 2013 as follows:
New York: $99,960
MBA salary ranges may also vary according to the reputation and credibility of the school conferring the degree. Those who obtain an online MBA degree are generally compensated less than those who attended traditional universities, according to PayScale.com in 2013. For example, online University of Phoenix MBA graduates were paid median salaries of $71,842, while those from the traditional University of Michigan-Ann Arbor MBA program earned between $103,658 in 2013.
Recently scenario has changed to some extent and online MBAians are recruited for their value added quality like:
- Good time management quality,
- More experienced,
- Passionate nature,
- Risk-taking quality for betterment,
A good news for Online MBA pursuers; ITM University Online has access to all of ITM Group’s placement resources and alumni network, through which thousands of job opportunities are generated. Their Placement Office works with these resources to provide job opportunities to Online MBA students. So whoever had a second thought about pursuing Online MBA can now whole heartedly devote your time, energy and money towards it. All the very best!!!…:)