Earning an MBA online provides working professionals with valuable exposure to a broad range of career-enhancing business skills, concepts and strategies. Students gain the expertise they need to open career doors in more industries, departments and functions than they would likely gain without this added education. They also benefit from personal and financial growth, all while maintaining the essential work-life balance.
Here we take a look at two of the most compelling reasons to earn an MBA online:
Higher Employment Rates
The 2017 GMAC Alumni Perspectives Survey presents findings from 14,651 graduate business school alumni, representing more than 1,000 programs worldwide. As it does year after year, this report demonstrates that MBA graduates are high-value recruitment prospects for companies.
Among the respondents, 92 percent are currently employed. 81 percent are employed by a company, and 11 percent are entrepreneurs. Only three percent are not working but seeking employment, and 5 percent are not working and not seeking employment.
Alumni are employed across a diverse range of industries, led by products and services, technology, and finance and accounting. As evidence that an MBA education serves as a portal to new opportunities, 52 percent of alumni are working in a different industry from their pre-degree employment. “In fact, 2 in 5 alumni currently work in an industry they never considered prior to starting business school,” according to the report. This suggests that adults need broad exposure to diverse industries to make the most satisfying long-term commitments. No wonder then that 88 percent of MBA alumni are satisfied with their job and employer.
The online option, because of its accessibility and affordability, enables many working professionals who could not consider an MBA to earn the degree and advance their careers.
According to the GMAC Alumni Perspectives Survey, the total annual compensation package for professionals with an MBA can range from a median of $75,513 for an entry-level position to a median of $440,122 for a C-suite executive. Corporate positions of greater decision-making authority often have incentives and bonuses as part of the compensation packages. MBA alumni earn 76 percent of their total compensation in base salary on average. As they advance in their careers, they often benefit from more lucrative bonus and incentive contract structures.
If you are considering earning an MBA online, an accelerated MBA, or a program that offers both features, consider how online MBA alumni rated their experiences. Seventy-six percent ranked their experience as excellent or outstanding, and 76 percent of full-time one-year MBA students also ranked their experience as excellent or outstanding. The latter group presumably had to put their careers on hold while they pursued their degrees. If greater opportunities and the ability to continue working as you earn your degree are important to you, soon you may be rating your MBA experience on a GMAC survey as excellent or outstanding.
Learn more about La Salle’s online MBA programs.