Is an Online MBA Worth It? Gut-Check with This Q&A

One commonly used method of paying for higher education programs is to apply for student loans. There are two main types of loans: private and federal. Private loans come from third-party lenders like credit unions and banks, and often come with less flexibility than federal loans. You may also find that the interest rate is higher than the those that come with federal loans. It’s best to check into both types of loans if you’re planning to use them. You may also be applicable for student aid or grants, so make sure to check all of this through your school’s financial aid office.

Scholarships are offered for a wide variety of reasons, from subject-specific scholarships to racial and ethnically diverse candidates, students with excellent achievements, and more. While it can be a bit time consuming to go through a second application process to apply for scholarships, this avenue can be lucrative and well worth-while. Check out this list of available scholarships to start.

A lot of employers offer education assistance to their employees. If you’re interested in getting an online MBA, you may want to find out if your employer offers tuition benefits. Your advanced education can also benefit your employer, which is why they will often help fund the endeavor. The best way to find out is to talk to your employer’s human resources or management team.

While there are a variety of options available, you may need to take on a part-time job for a few years to pay for your MBA. Online MBA’s offer a great opportunity to continue working as you are earning your degree.

These roles will require technical, financial, analytical, customer service, leadership, and organizational skills. Any job that is in a management or supervisory role may eventually lead to an operations or general manager position and is a good starting place for entry-level professionals.

A financial analyst is the more entry-level position on the financial manager track. An analyst will provide insights into investments and help companies make wise financial decisions. Financial Managers are responsible for the overall financial wellbeing of their organization. They provide longer-form reports, lead investment activities, and develop strategies for long-term financial growth.

A Human Resource Assistant, HR Coordinator, Recruiter, Temp Agency Assistant, and HR Specialist are all examples of entry level HR jobs. Each job offers a different set of experiences and builds different skills within HR.

Entry level jobs within IT include a help desk analyst, PC technician, computer operator, software developer, cybersecurity technician, front-end web developer, quality assurance analyst, and database developer. These roles are all steppingstones to higher-up, management positions.

Entry level marketing roles include marketing coordinators, product managers, assistant marketing, and more. These roles typically include helping to provide quality customer service, help managers develop products, advertising, content, and distribution strategies. This provides quality training for becoming a marketing manager.

According to Masters Public Health, medical service managers must have a bachelor’s degree in health management, business administration, health administration, or nursing. Many employers also prefer candidates who have a graduate degree and at least one year of relevant experience.

It is important to understand the total cost of an MBA before enrolling in one. This includes tuition, books, supplies, living expenses, and other supplemental costs. Online courses will have a significantly reduced cost, not only in the tuition but in the lack of supplemental living expenses that come with in-person classes. Seeking out grants, scholarships, and in-state programs are all ways to reduce the cost of attaining your degree.

GRE scores have recently become a more commonly accepted test when applying to a MBA, but not all scores require or accept them. The GMAT (Graduate Management Admission Test) has long since been the standard for business schools and is accepted by all institutions internationally. Make sure to check what your prospective school’s requirements are before starting the application process. Then you can decide which exam is best for you.

Another significant factor in deciding on a school is the length of the program. Shorter may be better for those who are in between jobs, at the beginning of their career, or simply have more time to commit to completing a program more quickly. On the other hand, if someone is working full-time, or has many other personal commitments, a slower, more flexible, and longer-term program may be the better alternative. This is a very personal and situational decision.

Just as in-state versus out-of-state tuition significantly effects the cost of an undergraduate degree, it does the same for an MBA. Whether you are looking into online or in-person programs, the rates will still be dependent on the school being in or out of state. This is a factor to consider when thinking about potential student debt. Aside from scholarships and grants, finding the best in-state school that suits your needs is the most financially affordable option.

Whether you are looking into an online or in-person program, an alumni network will offer a significant advantage to any student who is interested in connecting with others in their field. While classes can be a great environment to do that in, post-graduation networks, events, and resources can be hugely valuable.

Similar to an alumni network, job opportunities can often be built through university-based networking events and resources. There may even be a specific department dedicated to helping students find jobs after course completion. If that is a priority for you, it’s something worth looking into before deciding on a program.