Deciding to go back to school for a Master of Business Administration (MBA) is a big decision. But the choices do not stop there; you must decide what kind of MBA program to complete. Some of the options include full-time or part-time MBAs, executive MBAs or online MBA programs. Plus, you may also have the option to choose your MBA emphasis. For instance, the University of West Florida (UWF) offers eight online MBA program options.
If you work full time and are looking to earn your MBA without quitting your job, an online program might be an ideal fit for you. Here are five of the many advantages of online MBA programs.
1. Flexibility
Most online degree programs offer a combination of work that is completed at set times, as well as work that you complete on your own schedule. That flexibility allows you to work full time and spend time with family without having to drive to class or commit to a rigid class schedule.
2. Affordability
Online degree programs can be among the most affordable options. Unlike traditional MBA programs, which may require you to quit your job, you do not have to worry about a loss of income while you take online classes. This lost income is a component of what’s known as “opportunity cost.” Avoiding the opportunity costs associated with attending a campus-based program can represent substantial savings.
Additionally, many online MBA programs are less expensive than brick-and-mortar degree programs. Because online degree programs do not require as much upkeep and maintenance of campus facilities, schools save money and can then pass the savings down to the student in the form of an affordable MBA program.
3. Options for Specialized Study
Like their traditional counterparts, online MBA programs may offer the option to tailor coursework with classes that emphasize a specific area. Completing a specialized course of study can enhance your skills in your desired field and allow you the opportunity to interact with students and professors who share the same interests as you. UWF offers the following eight MBA specializations fully online:
- MBA – General
- MBA with an emphasis in Accounting
- MBA with an emphasis in Business Analytics
- MBA with an emphasis in Entrepreneurship
- MBA with an emphasis in Finance
- MBA with an emphasis in Human Resources Management
- MBA with an emphasis in Cybersecurity Management
- MBA with an emphasis in Supply Chain Logistics Management
4. Real-World Application
Because you can keep working while you earn your degree, you can immediately take what you learn in class and apply those insights to your current work responsibilities. In turn, your newfound knowledge and skills can increase your value with your employer. Some online MBA programs even let you choose a particular industry on which to focus your coursework.
5. No Geographic Restrictions
With an online degree program, you can earn your degree from anywhere in the country — or even the world. Because you are not restricted by location, you can find a degree program that has exactly what you are looking for or a program offered by one of the nation’s most well-regarded, AACSB-accredited business schools. By participating in coursework and group projects with students from all over the world, you can grow and diversify your network in a way that may not be possible with traditional MBA programs.
If you are thinking about going back to school to earn your MBA, there are many programs from which to choose. You may want to consider the convenience, affordability and additional benefits of an online program.
Learn more about UWF’s online MBA programs.