The Benefits & Challenges of Attending Online Business School as a Working Adult

benefits and challenges

Online business schools can make all the difference when it comes to achieving your educational and career goals without taking time off from your job. If you are up to the challenge, earning your degree at an online business school can be a financially and personally rewarding experience.

Time

As with any demanding educational program, there are challenges inherent in attending an online graduate or undergraduate business school. Successfully completing your studies requires a significant commitment of your time and effort. Fortunately, online business programs provide the flexibility of working around your job and family commitments and completing your coursework on your schedule. Whether you have time available in the mornings, evenings, or on weekends, you can complete your assignments and attend class when it is convenient for you.

Location

You can also attend classes and complete your assignments where it is convenient for you. Online business schools allow you to work from anywhere you have an internet connection and a laptop computer. For that matter, most online schools also have apps that allow you to log into your online classroom from your smartphone, tablet, or other electronic device. If you are traveling for business, on vacation, or have downtime at work, you can easily access your online classroom from almost anywhere.

Cost

Earning a business degree also requires a significant financial commitment. It is no secret that the cost of higher education has been increasing for years (Odland, 2012). This increase is true for both state supported and private colleges and universities. In many cases, an online business school is an affordable option compared to the cost of a traditional brick and mortar school. In addition, you may be eligible for scholarships, grants, student loans, and other financial aid. Most online business schools have dedicated financial aid offices to help you identify resources for funding your education and creating a financial aid package that can help make your education affordable. Earning a business degree is an investment in your future.

Potential Career Advancement

A business degree may help you advance your career at your current employer or make you a more desirable candidate in the employment market if you are considering a new career in business. In addition, a business degree may boost your earnings potential. According to the National Association of Colleges and Employers (NACE) 2014 Salary Survey, the average starting salary for college graduates with a business degree was $57,229, up 2.9% from 2013 (NACE, 2014). Business professionals who continue on to a graduate program can potentially fare even better. On average, the starting pay for graduates of MBA programs is about 50% higher than their pre-MBA salaries (Yeaple, 2014). Working business professionals who earn their MBA can expect similar salary increases (Yeaple, 2012).

An online business school is an excellent choice for many working professionals to achieve their goal of earning a business degree such as an MBA. Whether the goal is career advancement, increased earnings potential, or personal achievement, the benefits from completing your undergraduate or graduate business degree will last a lifetime.

 

Written by David Mackusick, JD, CPA

David is an Assistant Professor in the Forbes School of Business® at Ashford University.

References:

National Association of Colleges and Employers. (September, 2014). NACE salary survey. Retrieved from http://www.naceweb.org/uploadedFiles/Content/static-assets/downloads/executive-summary/2014-september-salary-survey-executive-summary.pdf.

Odland, S. (2012, March 24). College costs out of control. Forbes. Retreived from http://www.forbes.com/sites/steveodland/2012/03/24/college-costs-are-soaring/.

Yeaple, R. (2014, March 17). MBA pay. Forbes. Retrieved from http://www.forbes.com/sites/ronaldyeaple/2014/03/17/mba-alumni-profile-2/.

Yeaple, R. (2012, June 4). Does it pay to earn a part-time MBA? Forbes. Retrieved from http://www.forbes.com/sites/ronaldyeaple/2012/06/04/does-it-pay-to-earn-a-part-time-mba/

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