List of Accredited Online Degrees
In a fast-changing globalized world, the motto “business as usual” no longer applies. Business itself is as old as humankind: Accounting dates thousands of years back to ancient societies which developed counting and auditing systems by using tokens. But as the world changes, it’s time to toss the status quo – and redefine how we do business.
So why is the Master of Business Administration (MBA) less than a century old? Marketing, for one, emerged as we know it in the early 1900s. Politically, the world operates by a more complex web of treaties, trade rules, and tax codes than ever before. Lastly, industrialization required a scientific approach to build a safer and more sustainable workplace.
In the 21st Century business world, an online MBA degree is one of the most widely recognized platforms to develop innovative, ethical leaders. Whether you choose to deep-dive into an MBA major like Leadership or opt for a more generalist MBA, expect a big impact beyond the bottom line.
THE CAREER PATH
There’s never been a better time to earn an online MBA—according to a Summer 2016 study from the Graduate Management Council, the job market for MBAs is the best it's been since 2010.
Aside from simply fueling the world’s capitalism engine, MBA graduates are first and foremost expert problem solvers. Whether it’s tackling systemic poverty through initiatives, or disrupting transportation through ride-sharing, MBAs keep the gears of innovation churning every day.
BEST MBA JOBS
On par with a changing world with shifting demands for disruptive start-ups and traditional blue-chips alike, MBA curricula adapts to the realities of the marketplace.
- CYBER SECURITY: A topic that emerged repeatedly in the 2016 elections, cyber security is in white-hot demand. MBA graduates with experience in security, threat intelligence, and penetration testing industries are sought after as cybercrime costs the global economy $575 billion a year. According to a recent report from DICE, salaries range from $165,000 for an Application Security Manager to $178,333 for a Director of Security.
- TECHNOLOGY PRODUCT MANAGER: Hailed a ride via an app, or measured your resting heart rate today? Chances are, a technology product manager was behind the creation of these inventive products. In 2015, MBA grads of the Massachusetts Institute of Technology's Sloan School of Management earned a mean salary of $124,927 for technology product manager jobs. The $25,265 signing bonus didn’t hurt, either.
- DATA ANALYTICS: The catchphrase “there’s an app for that” is fast becoming “there’s a data set for that.” From using financial modeling to analyze real estate investments, to healthcare analytics to improve patient outcomes, many sectors are taking the data-driven approach. According to PayScale's national salary data, the average salary for MBAs in the Big Data Analytics field is $136,800.
The courses are designed to build on what graduate students already learned foundations in business while introducing developmental coursework in key aspects of business including:
- Analytical Courses: accounting, economics, operations research, organizational behavior, statistics.
- Functional Courses: financial management, human resource management, marketing management, operations management.
- Specialization Courses: entrepreneurship, finance (including corporate finance and investment management), international business, management information systems, management science, marketing, operations management, organizational design, project management, real estate, risk management and strategy.
An MBA is meant to build leadership, cultural empathy, and teamwork skills so expect semeter wide group projects and real world business problem solving. Many online MBA programs require a capstone project like a business plan using the MBA-specific tools and skillssets you’ve learned.
ACCREDITATION & COST
Return on Interest (ROI) is one of the key elements in which MBA program you chose, so the costs – of both tuition and opportunity cost of missing a year or two in the workforce – are as much of a deciding factor as anticipated salaries.
It is helpful to refer to the “Fast, Cheap, Good: Pick Two” triangle theory. To determine program quality, research variables like student reviews, outcomes, and, most importantly, accreditation.
ONLINE MBA COST BY ACCREDITATION
$8,745 @ Taft University System
$8,030 @ Eastern New Mexico University
|$25,869||$64,720 @ University of the Sciences|
$6,558 @ Fayetteville State University
|$37,022||$104,658 @ University of North Carolina at Chapel Hill|
The average savings of $14,000 between regional and national accreditation may seem like the clear-cut winner, but there are drawbacks. For one, transferring credits to a regionally accredited college may be problematic. For another, there may be complications in getting national accreditation accepted for career fields that require licensing (like teaching and healthcare).
And while AACSB accreditation can cost more, on average, it’s considered the gold standard of business school accreditation and therefore online MBA degrees. If you can afford it, it’s a good choice.
Finally, it’s important to consider prestige and the reputability of the school. Employers often look more favorably on online MBA programs which also have a brick and mortar campus.