Explore a Master's Degree in Business Administration
A master's degree in business administration, otherwise known as an MBA, serves business professionals who seek upper-level management positions with their current employer, as well as those who want to start a career or find a new job in a business-related field. An online MBA will grant students the flexibility to complete course work from home at a convenient pace. However, students who plan to enroll in online MBA programs should note that they will not have as many opportunities to network in person with professors and fellow students as their on-campus counterparts. Traditional students often leverage these networking opportunities to find jobs, and those who enroll in business school to switch their career trajectory consider this network a huge plus.
Online MBA programs do, however, allow students to work at their own pace, provided they complete required course work in a set timeframe, which is ideal for working professionals. Most online MBA programs require two to four years to complete. The time it takes to complete a master's degree in business administration depends on a number of factors, including whether students attend full- or part-time and whether they have to complete any prerequisites before beginning their core courses.
Online MBA students will learn the theories and principles that constitute the core of a business curriculum. They will take classes in management, finance, and marketing, as well as organizational behavior and economics. Aside from classes in business fundamentals, they may take classes in globalization, ethics, or managing diversity. Students will apply academic theories to real-world scenarios. The following are some of the courses students may take:
- Organizational Behavior. This interdisciplinary field encompasses sociology, psychology, communication, and management to study the actions and attitudes of individuals, groups, and structures within an organization. Students will learn about the impact of these attitudes on the organization's functioning and performance.
- Project Management. This interdisciplinary course encourages students to develop project management skills and techniques that they will need to manage projects in a modern business environment.
- Marketing in a Global Environment. This course will teach students the fundamentals of strategic planning in a global environment. Students will learn about creation, promotion, pricing, and the distribution of goods and services for profit and not-for-profit firms.
Strong interpersonal communication skills are essential in business-related fields, so students will collaborate with peers in an online environment while working on projects and case studies. Students will also develop networking skills as they commence their job search.
Building a Career
Depending on their career background before and during the program, business school graduates may seek careers as marketing executives, financial analysts, and advertising executives. They may also pursue other positions related to the world of business and finance. Most, if not all, business school graduates aspire to return to the world of business and obtain a more fulfilling and high-paying job. This is why networking opportunities with professors and executives are important to students; making these contacts can pay off down the road.
Projected salaries vary, as business school students can pursue a number of business and finance-related fields. Overall, business school graduates can find well-paying jobs in marketing, advertising, management, and more. According to the U.S. Bureau of Labor Statistics (BLS), management analysts earned a median annual wage of $78,160. In another high-paying field, financial analysts raked in a median annual wage of $74,350. Keep in mind, however, that salaries for professionals with MBAs can vary greatly based on the industry you work in, the city and state you live in, your level of experience and skill, and other considerations.