It is no secret that there are serious advantages to earning a Master of Business Administration (MBA). For starters, an MBA is linked to higher salaries. MBA graduates may also have an edge when it comes to landing top management positions. Personal satisfaction ranks right up there too.
For those who have postponed earning an MBA and now wonder if it is too late, the answer is absolutely not. The personal rewards alone may make earning that MBA well worth the effort.
The flexibility of an online MBA program like the one from Boise State University means that even busy professionals with a demanding travel schedule can keep up with assignments. With a web-enabled device and Wi-Fi, an airport terminal can be a great place to complete coursework -- any day of the week, whatever the time zone.
What Are Some Considerations When Choosing an MBA?
Accreditation is an important factor when choosing any MBA program. It can be a sign to both students and employers that the program meets high standards.
The College of Business and Economics (COBE) at Boise State, for example, is one of less than five percent of business schools worldwide to earn AACSB accreditation. COBE has maintained AACSB accreditation since 1979, further evidence of the program's commitment to quality.
Cost is another factor. Tuition accounts for the majority of the total cost of an MBA. But other expenses such as textbooks can add up. Boise State's online MBA saves students money by replacing traditional textbooks with 100-percent digital content. All course materials are included in the cost of tuition.
How Can Experience Help?
There is value in acquiring experience before enrolling in an MBA program. In fact, some MBA programs prefer or require a certain level of experience. One reason is that having experience going into an MBA can prepare students to contribute to their classes at a higher level.
Experience may also open the door to financial aid in the form of scholarships. For instance, Boise State offers an "experience scholarship" to MBA students with significant experience managing people, budgets or customer accounts. Anyone who has been putting off earning an MBA may find that the experience gained in the meantime can actually pay off in the form of scholarships.
Practical experience comes into play with coursework. Working professionals can actively apply their newly acquired skills and knowledge to real-world situations in their workplace. At the same time, having someone on board who can incorporate the newest insights, tools and techniques can be an invaluable contribution to the student's workplace.
Students who come into an MBA with an established career can upgrade their skill set and knowledge to support a variety of goals:
- Increasing job security
- Advancing from mid-level to senior roles
- Changing career paths
- Kick-starting an entrepreneurial venture
For anyone still wondering about that late-career MBA, results of a recent GMAC Alumni Perspectives Survey are reassuring: four out of five B-school grads rate the value of their education as "outstanding" or "excellent." Notably, an overwhelming 95 percent found their MBA experience personally rewarding -- Gen Xers and Boomers included.
Learn more about Boise State University's online MBA program.
Sources:GMAC: 2018 Alumni Perspectives Survey: The Value of a Graduate Management Education
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