If you’re reading this, you’re probably considering pursuing an MBA, and you’re specifically interested in
online MBA degrees. Perhaps earning a graduate degree is the next step in your career or a launchpad to take your career to the next level. Or maybe your ambitions are simpler; you may just enjoy learning and exploration and want to expand your personal and professional horizons. No matter what your short- or long-term goals may be, choosing your online MBA program is equally as important as choosing a full- or part-time program at a traditional university. The investment, both in time and money, can have a long-lasting impact on your life. There are several criteria to consider that might help ensure you’re choosing the right program.
Most importantly, look for
online MBA degrees that are offered by accredited programs. After spending thousands of dollars and several years of your time, you want to be sure that your degree is recognized by employers and by the market. You certainly don’t want to devote your time to earning a master’s degree that isn’t respected - that wouldn’t help you to advance your career in any way. Experts widely agree that there are two accreditations that you should look for before you even apply: the Association of Collegiate Business Schools and Programs (ACBSP) and the Association to Advance Collegiate Schools of Business (AACSB). There are also regional accreditation programs that will be available on a program’s website.
Next, find out how recruiters and potential employers rank the online MBA programs you’re exploring. While employers have typically held back from endorsing
online MBA programs, it probably doesn’t come as a surprise that online degrees from well-known universities in the United States typically rise to the top of recruiters’ lists.
One last interesting, and unexpected, measure of an online MBA program’s success or reliability is the individual school’s loan default rate. Now, you might not be thinking of making inquiries regarding whether graduates are paying off their student loans, but consider the idea that alumni like you are continuing on in the workforce with the hopes of advancing or changing careers. If they are successful in that venture, they will likely have the income available to make monthly payments on their student loan rates. If there’s a high default rate, that might mean that the cost of attending the program outweighs the types of jobs that graduates are able to land after graduation. You can inquire with the Department of Education to learn about individual programs. Although this tactic might take a little additional work, it’s definitely well worth it.
As if taking the GMAT, applying to your school of choice, and embarking on the life of an MBA student aren’t enough work, there’s certainly an art to identifying the best online MBA programs. Choosing wisely definitely matters as the decision can have a huge impact on your career in both the short and long term. If you spend a little time doing your research, you can be sure you’re making the right choice.
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