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As part of the ona bet:MBA curriculum, MBA students💖 can expect to learn some technical skills, such as how to perform statistical analysis or decipher financial statements. What’s more, graduates will acquire soft skills that include how to manage a team and tackle ethical dilemmas that arise in a workplace.
The GMAT has historically been the standardized test of choice for MBA applicants, while the GRE was favored by students applying to other types of graduate-level degree programs. Online MBA programs will generally accept either test—though many schools ona bet:no longer require a test score at all or offer waivers to students based on factors like work exper🌺ience or undergraduate GPA.
Most programs don’t have strict minimum GPA requirements, though students may wish to supplement a low undergraduate GPA with standardized test scores.As with any admissions decision, no single factor is likely to make-or-break a candidate’s chances at being accepted into an online MBA program. Rather, admissions officers generally take a holistic approach when considering an applicant’s educat🧸ional background and work experience. Because test scores are increasingly optional, many busines🦩s schools place a heavier emphasis on the personal statements and letters of recommendation.
The number of fully online MBA programs has ona bet:surged in recent years, which has made this an increasingly common way for students to pursue this degree. Many programs offer a mix of both synchronous and asynchronous le🍒arning, meaning courses that either ne🙈ed to be attended live at a particular time or can be viewed at the student’s convenience. Even though students don’t need to be physically present, they can expect to spend time doing group projects and participating in class discussions via video conferencing or using other technology.
Students in online MBA programs are often attending school part-time, which means they must juggle work and family obligations in addition to coursework. Many business schools strive to replicate the in-person, on-campus experience by offering the same services—such as ona bet:networking events or career services—online. And s🐻ome programs even offer the option for immersive, on-campus components that typically last a few days.
While Fortune’s ranking of online MBA programs can be a valuable resource, prospective students may want to take into account a broader array of factors when choosing an online MBA program. The ona bet:cost of the program, of course, is important for most students who are self-funding their MBA education. In addition, a school’s prestige, the strength of its alumni network, and the variety of concentration options it offers may be important to ona bet:students looking to switch careers. Finally, some students may be particularly motivated to complete the degree quickly, in which case when the program starts and how long it takes to complete may b🅷e a priority.
Even if accreditation doesn’t matter to you, it may matter to ona bet:recruiters and potential employers—and that’s why receiving an MBA degree from an accredited institution may bolster your return on investm🐽ent. The Associa☂tion to Advance Collegiate Schools of Business (AACSB) conducts a rigorous of business schools to ensure their MBA programs provide students with the courses and learning they will need to succeed.
About half of the schools on Fortune’s ranking of the best online MBA programs offer ona bet:rolling admissions, meaning that students can apply at any time and start classes at the next-available date. Because students can dictate their schedules, many MBA candidates in online programs attend school while working full-time, though there are also ona bet:accelerated options for those students who want to finish the program in as little as one year. Such flexibility is a primary reason why the online format appeals to students who are motivated to complete the degree to advance within their current compওany ♔or switch jobs after graduation.
Prestige can mean different things to different people—but the prestige of a business school’s on-campus program is typically shared by its online program. For students, a school’s name reputation locally may be more important than on a national basis, particularly if they’re looking to change jobs after graduation. Meanwhile, recruiters may be keen to ona bet:recruit students from MBA prograꦍms that ☂are especially well-regarded for particular concentrations or based on the reputation of prior alumni who were hired from that program.
Tuition can vary widely among online MBA programs, from as little as $10,000 per year to nearly $80,000. While some ona bet:scholarships are available to defray costs and employers may partially reimburse students for the cost of the degree, many students end up self-funding their education with student loans. Graduate students may borrow up to $20,500 in federal loans, though these loans also . As a result, cost is certainly a factor that most students will consider—and particularly when deciding between two different programs. That’s why Fortune has compiled a ranking of the ona bet:25 most affordable online MBA programs.
The value of an MBA is derived from more than what’s taught in the classroom. Rather, pursuing an MBA is as much about building a network among fellow classmates and alumni. While the size of a program will dictate how big the ona bet:alumni network, applicants may ﷽also want to consider how robust that network is in terms of facilitating opportunities to meet fellow graduates—all of which can help with career advancement.
Many online MBA programs offer in-person elements, such as on-campus visits or ona bet:study abroad opportunities. Even if students complete a bulk of their degree program online, these immersive experiences can help them to forge bonds with their peers and professors and feel more connected to the business school. Students who are keen for s♈ome in-person elements to a program may also want to consider programs that offer a hybrid option of online and in-personඣ.
There are three main options for students to ona bet:finance the cost of their MBA education: Self-fund the cost, get the cost reimbursed 🌞(in part or completely) by their employer, or and scholarships to defray the cost. Many business schools, even some of the top-ranked institutions, offer scholarships to applicants with eligibility determined either by need or qualifications. While full-ride scholarships are somewhat rare, the and are among schools that cover the full tuition for some full-time MBA studen🐼ts.
Many companies will also reimburse some—or all—of the cost of an MBA degree for employees, though they may require a student to remain employed for a certain period post-graduation. A recent survey found that 63% of companies offered formal tuition reimbursement and another 4% said they help employees repay their loans, according to figures from the .Finally, current or former ona bet:members of the military may be eligible t⛎o get the cost of their online MBA degree paid for by , while the can cover any tuition and fees not covered by those benefits.
Thousands of business professionals have improved their career trajectory and salary by completing an online MBA. Since o▨nline MBA students are typically working full-time, they also get to apply their lessons directly and immediately 𓄧to their workplace.
The cost of an online MBA can vary from nearly $10,000 to upwards of over $100,000. The g💙ood news? Since many online MBAs are designed to be completed while working, students don’t have to🅺 forgo a salary while pursuing their education.
While online MBA programs ona🦩 bet:allow for more flexibility in students’ schedules, traditional full-time programs offer students more personalized coursework and the opportunity to take full advantage of internships, network🅺ing, and other career resources. Traditional MBA programs are best for people who are switching careers.