The advantages of studying an online MBA

The real-world value and quality of an MBA education in the eyes of industry employers is evident in the Graduate Management Admissions Council’s 2023 Corporate Recruiters Survey.

Findings from last year indicate that:

• MBA graduates continue to be most in demand among global employers compared to candidates with business Master’s or Bachelor’s degrees
• even accounting for inflation, employers project higher 2023 MBA salaries compared to 2022 projections, in contrast to a drop in industry and business Master’s salaries
• employers are most likely to hire MBAs in strategy, innovation, consulting and marketing roles
• more than 75% of employers across industries have hired MBAs over the past two years, with the non-profit and government sectors showing the largest growth.
• The figures look incredibly promising. Could a Master of Business Administration (MBA) degree be a fantastic investment in your future?

What are the main advantages of studying an MBA?

There are numerous benefits to studying for an MBA, from gaining a strategic toolkit to help you navigate ever-evolving, highly complex business landscapes to boosting your current and future career prospects.

Let’s find out some of the other key advantages online MBA students can expect, enabling you to make an informed decision about whether an MBA is right for you:

• Extensive business, leadership and management expertise. MBA programmes provide learners with solid grounding in the core fundamentals of business and operations management, including economics, technology and information systems, leadership, human resources, and business analytics and statistics. As well as selecting a traditional MBA course, many now include specialisations that might be useful depending on your future career path and goals. For example, you could pick an MBA with a specialism in entrepreneurship, finance, global business, marketing, project management, or any number of other concentrations.
• High earning potential. One of the main MBA benefits is the return on investment it offers. MBA graduates are known to command significantly higher salaries – both upon graduation and later in their careers – than graduates of other disciplines. Postgrad.com states that graduates of MBA courses tend to secure an average starting salary of around £70,000-£120,000 a year – with the ability to increase this after gaining more experience. 
• Wealth of career opportunities. The broad spectrum of business and management skills and knowledge covered within MBA programmes means that they have incredibly widespread application, and graduates will be valued in just about any industry. For example, MBA graduates frequently work in consulting, finance, tech, healthcare, account management, entertainment and media, and many other roles and sectors.
• Networking opportunities. In the highly competitive world of international business, few things are more important than your professional network. Networking is a real draw for MBA programmes, with global alumni networks, forums, online events, and exposure to influential industry experts offering fantastic opportunities to foster connections with other working professionals that could be invaluable later down the line.
• Advanced professional skills. As well as business acumen, online MBA students develop other critical, transferable skills. These often include self-discipline, time management, communication, and problem-solving and decision-making skills.

Plus, opting for online education – rather than more traditional, on-campus programmes – means you can also save money, study asynchronously at your own pace, save time on commuting, and access all the benefits of a prestigious degree programme and high-quality learning experience from your own home, anywhere in the world. Additionally, online learning allows you to expand your search to institutions that may have been geographically inaccessible in-person, broadening your search and allowing you to pick the perfect learning environment for your needs.

Which MBA programmes lead to the highest salaries?

Some of the world’s leading business schools are known for helping students with MBA graduate degrees to land incredibly high salaries. However, it’s not just about where you go; what you study can also be critically important.

According to Indeed, some of the highest-paying MBA concentrations are:

•         business analytics
•         information technology
•         real estate
•         economics
•         corporate strategy
•         entrepreneurship
•         finance
•         innovation management
•         investment management
•         international business
•         marketing
•         project management
•         healthcare administration
•         sustainability
•         public administration.

Do you already know if you’d prefer to study a traditional MBA or opt for a specific concentration? Taking stock of your career goals, reflecting on what you don’t want to do, considering the strengths of individual business schools and universities, and reviewing available courses can all help point you in the right direction.

How long does an online MBA course take to complete?

While MBA programmes do vary in terms of length, most are generally designed as two-year programmes – though some enable you to complete your degree flexibly over longer periods. Depending on your individual requirements and time commitments, you could opt for a part-time MBA (which gives you the option to study alongside working and other responsibilities) or, if time is scarce, choose an accelerated MBA which can often be completed within 12 months.

Bear in mind that each option comes with advantages and disadvantages. It’s ultimately a highly personal choice and will depend on factors such as the time you have available, how you prefer to study, and your unique career and professional development requirements.

How do I get onto an online MBA degree programme?

The enrolment criteria for online MBA courses will vary between providers, so it’s important that you familiarise yourself with the specific minimum entry requirements – which often include a combination of academic qualifications, work experience, and English language requirements.

For example, in terms of professional experience requirements, many traditional MBA graduate degree programmes will ask for at least three years’ experience in a managerial role in any industry. This often refers to projects, tasks and initiatives you have been responsible for, or integral to, over the course of your professional career. In terms of academic requirements, many require you to hold a minimum 2:1 bachelor’s degree in any subject (or international equivalent). Individuals who do not meet the academic requirements may still be considered on the basis of substantial work experience, strong employment record with clear demonstration of high level of responsibility, or a Graduate Management Admissions Test (GMAT) or GRE test.

In terms of choosing the right online MBA for you, take some time to reflect on your preferences in relation to aspects such as:

•         type of business school, university or training institution
•         course accreditation (including AMBA, EQUIS, and AACSB), ranking and credentials
•         study options, including full-time, part-time or fully flexible learning
•         assessment and coursework arrangements
•         entry requirements
•         tuition fees
•         online format and learning environment.

Choose a cost-effective, highly flexible route to your future MBA

Develop into an innovative, responsible and transformational leader with the University of Wolverhampton’s online MBA programme.

Learn to manage, lead and deliver results with agility, creativity and efficacy, on a highly flexible, 100%-online course that enables you to study at your own pace. If you’re ready to take the next step in your career, join us and gain the critical skills, knowledge and behaviours to stand out from the crowd in complex, competitive business environments. You’ll study topics such as people management, organisational strategy, supply chain and operations management, leadership, governance, marketing and finance, preparing you to excel in roles across all manner of public, private and not-for-profit organisations.