Students who complete an online MBA program rightly expect to increase their career options and earning potential. Graduates are able to use the experience, skills and networks gained during their MBA program to advance their careers, even in a tight job market. The practical business expertise that an MBA brings especially helps individuals looking to move up the career ladder at their current organization.
According to the Harvard Business Review, a majority of MBA alumni find their degree professionally rewarding and, knowing what they know now, they would still pursue the degree.
For busy professionals, traditional, attending a traditional on-campus MBA program can cause unnecessary burden, getting in the way of their personal and professional lives. Online MBA programs allow students to complete their education on a flexible schedule that works for them, while earning the same degrees as residential MBA students. This article ranks the 50 best online MBA programsavailable today.
What is an MBA?
An MBA provides a graduate education in foundational business practices. MBA programs typically include a strong business foundation in accounting, finance and management as well as advanced courses in business communications, marketing strategy, operations management, and quantitative analysis.
Online MBA programs often feature group projects and case studies, allowing students to collaborate with others from varied backgrounds, giving them inspiration, ideas and a network to shape their future careers. Master of Business Administration programs focus on helping students hone their leadership, communication and analytical skills and applying them to the global business world. MBA programs often allow students to tailor the degree to their personal and professional goals with concentrations in a variety of areas such as entrepreneurship, marketing, supply chain management and health care administration.
MBA programs prepare graduates to take on new responsibilities, transition to management roles or pursue an entrepreneurial route. MBA graduates pursue careers as financial managers, market research analysts, logisticians and distribution managers. Graduates who seek careers as college professors also can further their education with doctoral studies in a business-related field.
According to the 2015/16 QS TopMBA.com Jobs & Salary Trends Report, employees with an MBA degree in the United States have an average salary of $103,300 and an average bonus of $22,400.† The survey targeted individuals with responsibility for MBA recruiting for their company. Based on data from the Bureau of Labor Statistics, workers in fields such as commodities, securities and financial services sales agents who also hold a master’s degree earn a wage nearly ninety percent higher than workers with a bachelor’s degree.
Advance Collegiate Schools of Business International (AACSB) Accreditation
The Association to Advance Collegiate Schools of Business International accredits business schools providing graduate and undergraduate business programs. The association also accredits accounting programs. AACSB International accredited schools have received a positive evaluation of their mission, operation, programs, faculty qualifications and contributions, and other important areas. AACSB International accreditation is the most recognized form of specialized/professional accreditation an institution and its business programs can obtain.
While AACSB accreditation is important programmatic accreditation for business degrees, you still want to make sure you find a program at a regionally accredited college or university. All of the schools we rank, below, are regionally accredited.
How Long Does it Take to Complete an Online MBA?
Like most master’s programs, an online MBA typically takes two years to complete. However, some accelerated programs can be completed in 18, 15, or even 12 months, and some part-time programs can be completed in three to six years.
Online MBA program ranking guidelines:
We selected the degree programs based on the quality of the program, types of courses provided, faculty strength as well as school awards, rankings, and reputation, including reputation for quality online programs. This ranking uses the same methodology as our well regarded ranking of the best online colleges, only applied specifically to MBA programs.
The Best Online MBA Degree Programs
1 University of Florida–Warrington College of Business
2 University of Virginia–Darden School of Business
3 University of Minnesota, Twin Cities–Carlson School of Management
4 University of North Carolina at Chapel Hill–Kenan-Flagler Business School
5 University of Illinois at Urbana Champaign–Gies College of Business
6 University of Southern California–Marshall School of Business
7 North Carolina State University at Raleigh–Poole College of Management
8 University of Nebraska, Lincoln–College of Business
9 Stevens Institute of Technology–School of Business
10 George Washington University–GW School of Business
All credit goes to thebestschools.org