The decision to enroll in an MBA program is complicated. One must weigh the pros and cons, the costs versus benefits. Would you have to relocate or leave your present job? Do MBA degrees online hold any clout in the business market? Will earning the degree make you more money?
Academia is flooded with MBA courses, options, specialties, locations, and even modes of delivery. The cost and time investment is large, making the decision a difficult one for many people.
Value of an MBA
The 2012 Global Management Education Graduate Survey, conducted by the Global Management Admission Council (GMAC), found that 64% of 2-year MBA recent graduates had received job offers, with four out of five stating that they felt their MBA degree gave them a competitive edge in the market place. Researchers Davies and Cline found that in 2002 the average pre-graduate made $50,000 while the post-graduate increased to $75,000.
It is significant that MBA graduates have a 25% lower chance of being unemployed than those with a BA degree. Davies and Cline find that the earnings gap on lifelong income between those with a BA and an MBA are dramatically different: during the prime earning years, MBA graduates are earning nearly double the salary of those with a BA. Davies and Cline found that in 2001 a student who pays $162,000 on an MBA could expect a total of $1.4 million in increased earnings. This rate of return is a compelling argument for continuing on to an MBA degree.
Online Education
There has been an explosion of online options for higher education. While 2011 saw a 2% growth in the higher education student population, the same year showed a 10% growth in “online program” enrollments.
The 2011 survey conducted by Babson Survey Research Group and College Board found that “over 6.1 million students were taking at least one online course during the fall term of 2010 – an increase of over 560,000 students the previous year.” With the study finding that 31% of college students are taking at least one online course, it is no surprise that 65% of colleges have stated that online education is a large part of their “long-term strategy.”
Perhaps the most common reason to pursue a degree online is flexibility. Many online students still maintain their professional jobs, and incomes, while being able to “attend” school during their free time. Also, the online platform allows students from around to globe to attend the same institution, allowing for greater diversity of thought and perspective.
Florida National University – MBA Program
Florida National University is proud to offer their prestigious and rigorous Master of Business Administration program. A distance-learning program – the courses are taken entirely online, allowing flexibility for its participants. Dedicated to producing individuals who thrive and lead in the workplace, the MBA program has three different concentrations from which to choose from: General Management, Finance, and Marketing.
If you are interested in more information regarding the Florida National University MBA program, please call 305-821-3333 ext. 3 or visit http://www.fnu.edu/about-fnu/contact-us/.
References
Davies, A., & Cline, T. W. (2005). The ROI on the MBA. BizEd, 4(2), 42-45.
Retrieved from www.aacsb.edu/publications/archives/janfeb05/p42-45.pdf
Allen, I. E., & Seaman, J. (2011). Going the distance: Online education in the United States, 2011.
Retrieved from www.onlinelearningsurvey.com/reports/goingthedistance.pdf
Global Management Education Graduate Survey. (2012). [Survey]. Worldwide. Retrieved from www.gmac.com/~/media/Files/gmac/Research/curriculum-insight/2012-gmegs-survey-report-early-release
