Home Experience KU MBA Blog Is an online MBA worth it in 2021?

Is an online MBA worth it in 2021?

16 Mar

There is no denying that the ongoing COVID-19 pandemic has affected people from all around the world. Despite the difficulties, more and more people are finding that they enjoy working from home, learning to do their jobs online, and adjusting to the new environment. Additionally, the typical university experience has adjusted. University students, in particular, found are finding novel ways to overcome the pandemic’s these hurdles to and still achieve exceptional results while throughout online studying. In fact, a McKinsey and Company report from October 2020 found that the number of students taking a distance-education course rose from 35% in 2018 to near 100% in 2020.1 Although university students’ experiences have changed, , fortunately, there's a wealth of online MBA programs available that provide prospective graduates with new ways to interact and network with their fellow students and alumni.

The Benefits of an MBA

A Master’s of Business Administration (MBA) is the type of degree that is commonly associated with networking, social events, and building connections. It's typically pursued by post-grad students or professionals who are already working and looking to advance their careers or make new connections in the business world.

A good MBA program offers significant advantages in this area, putting students in touch with industry professionals, budding entrepreneurs, and established business owners. In addition, it teaches leadership skills, business principles, and financial expertise.

With the aforementioned change in the working environment, these skills are more relevant than before. In the US, we are now seeing a rise in entrepreneurship,2 small business ownership, and extensive innovation in the fields of technology and finance. These are all areas in which an MBA is extremely advantageous, helping students to better evaluate business opportunities, lead teams, and develop new ideas.

Is an Online MBA Worth It?

Politico recently reported on the beneficial changes that the best universities are introducing to accommodate the new learning environment in a post-pandemic world.3 With these changes and upgrades to the learning environment, earning an online MBA at a renowned university like the University of Kansas will still provide access to all the benefits of a traditional MBA, along with the ease and convenience of home study.

Modern video technology has helped to make online networking a hassle-free and enjoyable experience, keeping students in daily contact with lecturers, alumni, fellow students, and potential employers. The lectures and course materials are detailed and comprehensive, packed full of all the necessary information required to achieve a well-recognized MBA qualification.

When looking to progress your career, there are few qualifications that appear more impressive on your resume than an MBA. However, you should still take into account the cost of earning an MBA, not only from a financial point of view, but also the amount of personal and family time you would need to sacrifice, though an online MBA does offer greater flexibility and allows for more free time. Fortunately, the vast majority of students feel they made the right decision studying for an MBA. In a survey from OnlineMBA.com, researchers found that 80% of MBA graduates believe their degree was a good investment.4

This data indicates that the increase in earnings received as a result of having an MBA more than covers the financial cost and makes up for the time spent. A further study by National Association of Colleges and Employers (NACE) backs up this statistic, revealing that the pay grade for MBA students starting out in a career is on average $20,000 higher than non-MBA graduates.5 Clearly, the return on investment of an MBA is more than sufficient to cover the program costs of even the most prestigious of colleges.

How an MBA Can Progress Your Career

Whether you're fresh out of college, looking to branch into a new industry, or hoping to progress your career, you can't go wrong with an MBA. For decades, the MBA has been regarded as a pillar of business education and the best way to fast-track your career into the corporate world.

According to the aforementioned OnlineMBA.com survey, 67% of MBA graduates have enjoyed improved career or salary prospects, with 53% of graduates feeling that their job was more secure as a result of their degree.4 This is especially pertinent amidst the ongoing pandemic when budgets are stretched, and employers are looking for ways to reduce staff overheads.

The addition of an MBA qualification to your resume will instantly set you apart from the competition when it comes to tough job negotiations. With an MBA in your title and work experience to back it up, you can rest assured your resume will quickly find its way to the top of HR’s job applicant pile.

Begin Your New Career Journey Today With an Online MBA From KU

No matter what point you're at in your career, it's never too soon or too late to start your MBA journey. Whether you're a recent graduate or an experienced manager hoping to climb the corporate ladder, an MBA is the perfect degree to future-proof your career.

Now is not the time to sit back and wait for better days to come—embrace this opportunity to make the best of your time by studying from home. An online MBA from a well-recognized and well-connected university like KU can help you to stand out from the crowd. While others sit and ponder their future, you can work towards securing your own.

1. Retrieved on February 22, 2020, from mckinsey.com/industries/public-and-social-sector/our-insights/reimagining-higher-education-in-the-united-states
2. Retrieved on February 22, 2020, from forbes.com/sites/chriswestfall/2020/10/12/new-business-applications-spike-40-is-entrepreneurship-your-next-career-move/?sh=114b3d582604
3. Retrieved on February 22, 2020, from politico.com/newsletters/weekly-education-coronavirus-special-edition/2021/01/25/how-the-pandemic-forever-changed-higher-education-792939
4. Retrieved on February 22, 2020, from onlinemba.com/resources/investing-in-an-mba/
5. Retrieved on February 22, 2020, from naceweb.org/uploadedfiles/files/2020/publication/executive-summary/2020-nace-salary-survey-winter-executive-summary.pdf