Today’s business climate is a place of increasing competitiveness. Coupled with technological advances and shaky markets, it has become clear that a bachelor’s degree in business isn’t what it used to be. Employers are searching for people with an understanding of e-commerce and trade—and the credentials to back it up. For professionals looking to improve their skills and move up in the workplace, an online MBA degree may be the perfect solution.
According to the Unites States Bureau of Labor Statistics, a person with a B.A. in business earns between $30,000 and $50,000 a year depending on their geographic location and industry. A person with an MBA in the same location and industry can earn anywhere from $55,000 to $118,000, a sizable increase by any standard. So, while an online MBA program helps professionals improve their position in the workplace by strengthening their business skills, they can also expect to strengthen their bank accounts as well.
Salary isn’t the only positive aspect of earning an online MBA; furthering your business education has the potential to change your playing field all together. Earning your Master’s degree from an online university can also promote:
- Staying power. By showing an active interest in your work, you are also showing your boss that you care about doing well. Earning an online MBA in your spare time demonstrates your commitment to your future, and your employer isn’t likely to let you get away.
- Bargaining chips. Is your yearly review coming up? Are you expecting the typical 5 percent raise? While there are no guarantees, a post-secondary degree at the masters level is a powerful bargaining tool. By increasing your knowledge with an online MBA, you have more room to ask for a pay increase as well.
- Higher minimums. Never again will you enter a job interview hoping to earn at least the bare minimum; an online MBA will position you to ask for a higher salary right away. Companies look at what their competitors offer employees with MBA expertise in order to set their own salary rates. Earning an online MBA allows you to be a part of a pool of well-paid professionals.
- Business perks. Higher education means higher expectations, and by extension, bigger rewards. Companies often offer their high-level employees generous bonus packages and a stock portfolio. By helping shape a business, you will likely get a bigger piece of the pie.
- Company morale. Employers like employees that make their company look good. What better way than to have an MBA under their corporate umbrella? Don’t underestimate the impact your online degree can have on your employer’s credibility in the market. They will benefit from your expertise as much as you will.
Attending an online university to earn your MBA is both convenient and advantageous. If you are looking to excel in your career and pad your bank account, consider an online MBA as a smart solution.