The best online MBA programs offer a comprehensive curriculum that provides students with a deep understanding of financial markets, strategies, and tools. These programs are ideal for professionals who want to advance their careers in various finance industries and organizations.
An MBA can advance your career by providing you with knowledge and specialized skills related to various areas of business. You will gain an understanding of the various components of a business, such as finance, accounting, marketing, operations, and strategy. This knowledge can help you navigate the ever-changing business landscape and develop creative solutions to complex problems.
1. Louisiana State University Shreveport
The online MBA in General Business at LSU Shreveport is fast and affordable. This 30 credit online program includes seven core courses and three electives. The LSUS MBA is 100% online, and both in-state and out-of-state students pay the same affordable tuition rate.
- Degree: Master of Business Administration (MBA)
- Total Credits Required to Graduate: 30 credits
- Cost: $419.00 per credit , $12,474 Total Program Tuition
- Program Length: as few as 10 months
- School Accreditation: Southern Association of Colleges and Schools Commission on Colleges
- Program Accreditation: AACSB Association to Advance Collegiate Schools of Business
- Program URL: Visit Program
2. Eastern University
The online MBA in Organizational Management at Eastern University is thirty credits. Students can choose a General Track, or add a concentration in Business Analytics or Healthcare Administration. Students with undergraduate business degrees may also qualify for advanced standing admission into the program.
- Degree: Master of Business Administration (MBA)
- Total Credits Required to Graduate: 30 credits
- Cost: $9,900 Total Program Tuition
- Program Length: as few as 10 months
- School Accreditation: Southern Association of Colleges and Schools Commission on Colleges
- Program Accreditation: Accreditation Council for Business Schools and Programs (ACBSP).
- Program URL: Visit Program
3. Gardner Webb University
Gardner–Webb University offers an online MBA program with a business analytics concentration, accredited by the Association to Advance Collegiate Schools of Business. The 33-credit hour program, which students can complete in as little as 18 months, requires eleven core courses, one international business course, and three courses in the business analytics concentration.
Core topics include accounting, economics, finance, organizational behavior, marketing strategies, and quantitative analysis. In the business analytics concentration, students learn to analyze and interpret data to develop insights that will help organizations make better decisions. Students have the opportunity to sharpen their skills in areas such as predictive analytics, risk management, and financial and operations analysis.
- Degree: Master of Business Administration (MBA)
- Total Credits Required to Graduate: 30 credits
- Cost: $665 per credit $19,950 total cost
- Program Length: 10 months
- School Accreditation: Southern Association of Colleges and Schools Commission on Colleges
- Program Accreditation: Accreditation Council for Business Schools and Programs (ACBSP).
- Program URL: Visit Program
4. Pittsburg State University
The Gladys A. Kelce College of Business at Pittsburg State University offers an online, hybrid Master of Business Administration (MBA) program. This MBA program at Pittsburg State provides a rigorous graduate business education to help propel students into leadership roles and prepare them for management in various organizations. It combines business theory with real-world, practical application to meet the needs of individual organizations. The program also focuses on ethical decision making and personal responsibility. Courses include accounting, finance, marketing, and also organizational behavior.
- Degree: Master of Business Administration (MBA)
- Total Credits Required to Graduate: 30 credits
- Cost: $12,250 total cost
- Program Length: 12 months
- School Accreditation: Southern Association of Colleges and Schools Commission on Colleges
- Program Accreditation: Association to Advance Collegiate Schools of Business (AACSB)
- Program URL: Visit Program
5. Southeastern Oklahoma State University
The cost of earning a Master of Business Administration (MBA) degree from Southeastern Oklahoma State University depends on the number of semester credit hours you take. To complete the general program, you need a total of 36 graduate credits. This program also offer 15 different concentrations to focus your careers in areas ranging from Accounting to Aerospace Logistics.
The current tuition rate per credit hour for graduate courses is $345. So, tuition and fees for an entire semester range between $6,000 and $6,200 depending on the total number of credits you take. Additional costs may include an application fee, graduation fees, books, and supplies.
- Degree: MBA in General Business Online
- Total Credits Required to Graduate: 36 credits
- Cost: $345 per credit hour, $12,420 total cost
- Program Length: 12 months
- School Accreditation: Southern Association of Colleges and Schools Commission on Colleges
- Program Accreditation: Association to Advance Collegiate Schools of Business (AACSB)
- Program URL: Visit Program
What is an MBA?
MBA stands for Master of Business Administration and is a postgraduate degree focusing on business and management principles. It is designed to provide students with an understanding of the essential management concepts, and how to apply them to the business world.
Students can choose to specialize in a particular area, such as finance, marketing, or operations, and will learn about the aspects of business management, accounting, economics, strategy, communication, and more. Those holding an MBA often pursue positions in executive and senior management roles. Having an MBA will also give you the ability to network and build relationships with other professionals in the business world. Ultimately, an MBA can provide you with enhanced confidence and career advancement options, making you a more desirable candidate for organizations looking to fill important roles.
What Can You Expect From an Online MBA Program?
Unlike traditional MBA programs with an accelerated format, most online MBA programs use a learning management system (LMS) as a learning platform. An online MBA program typically consists of core courses and electives related to business topics such as accounting, finance, economics, marketing, operations, and business law. Students can expect to gain a strong theoretical understanding of business and learn practical skills that can be applied in the workplace.
Online MBA programs also often provide the opportunity to specialize in a field of business, such as human resources, healthcare, management, or entrepreneurship. Many online MBA programs also offer the opportunity for students to develop valuable professional networks and participate in real-world consulting projects.
Example MBA in Courses
- Managerial Accounting
- International Business
- Managerial Economics
- Organizational Behavior
- Managerial Finance
- Marketing Management
- Entrepreneurial Management
- Production Research and Operations Management
- Business Law and Ethics
- Strategic Management
What Are the Admission Requirements for an MBA Program?
Admission requirements for an MBA program vary by school, but typically include at least a bachelor’s degree, a strong GPA, GMAT scores, a detailed resume, and in some cases, letters of recommendation. Some schools may also look for extracurricular activities, volunteer experience, and work history. Tests like the GRE may also be accepted in lieu of the GMAT.
Prospective students may need relevant experience in business. Other typical requirements include letters of recommendation, a personal statement or essay, and a resume.
Test Scores
Most MBA programs require applicants to submit their GMAT or GRE scores to be considered for admission. Schools prefer the Graduate Management Admission Council GMAT scores, but many now accept GRE scores. GMAT scores range between 200-800 and top business schools expect a score of GMAT score of 600 or higher.
Official Transcripts
Generally, prospective students must submit official transcripts from each school they attended for their undergraduate degree program and any other post-secondary education attended.
Resume
Applicants to an MBA program typically need at least two years of relevant work experience. This experience is demonstrated on an individual’s resume.
Letters of Recommendation
Most MBA programs in Finance will require two or three letters of recommendation. Usually, these letters are from people who can vouch for your academic and professional credentials. Examples are current and former employers, mentors, and also professors. Recommenders should be able to speak to your qualifications, character, work ethic, aptitude, and ability to succeed in the program.
When possible, it’s best to have letters of recommendation from people who are respected in the field and have a track record of success. These people can help to demonstrate to the admissions committee that you are a qualified candidate and have the potential to excel in the program.
It is also important to provide your recommenders with a clear understanding of the program to which you are applying and the requirements of the letters of recommendation. Make sure to give them ample time to write the letters, and be sure to follow up to make sure they are submitted in a timely manner.
What Can You Do With an MBA?
An MBA degree gives you the training and qualifications to pursue a career in the management or administrative staff of any type of business organization. With an MBA, you can seek positions in fields like finance, marketing, human resources, operations management, and more.
In addition, many MBA graduates specialize in a particular area, such as IT, healthcare administration, or global business strategy. MBA degrees can also provide a strong base for entrepreneurship ventures or executive positions, as well as teaching or consulting roles.
What are the Highest-Paying Jobs in Business?
One of the highest-paying jobs in finance is the financial manager. These professionals earn a median annual salary of $130,000 or more.
Business Financial Analyst
These professionals analyze the operations of a company and developing strategies to improve efficiency and profitability. They must understand the company’s objectives and strategies, and use analytical techniques to identify areas for improvement.
Median Annual Salary: $101,910 (BLS)
Chief Operating Officer (COO)
A COO, also called chief operations officer, is the executive in charge of the daily operations of an organization. Chief operating officers are usually second-in-command immediately after the CEO, and report directly to them, acting on their behalf in their absence.
Median Annual Salary: $122,090 (BLS)
Management Analysts
Management analysts recommend ways to improve an organization’s efficiency. Some management analysts work for the business they analyze, but many work as consultants on a contractual basis.
Median Annual Salary: $101,190 (BLS)
Chief Executive Officer (CEO)
The executive at the top of an organization is usually the chief executive officer (CEO). The CEO typically reports directly to a board of directors and is responsible for the overall success of a company. A CEO has ultimate responsibility for the company’s strategic direction and long-term performance and is accountable to shareholders. Depending on the organization, the CEO may also hire, fire, and manage staff. They also set budgets and develop relationships with potential customers, partners, and also investors.
Median Annual Salary: $206,420 (BLS)
Marketing Manager
Marketing managers work with product development, public relations, and sales staff to help organizations maximize their profits and market share while ensuring customer satisfaction.
Median Annual Salary: $161,030 (BLS)
Is an MBA Worth It?
An MBA can open up doors to new career opportunities, provide more job security, and increase earning potential. An MBA can also offer the chance to gain more knowledge and skills and develop a network of professional contacts. Having an MBA may make it easier to find a job or qualify for a promotion. Ultimately, whether or not an MBA is worth it is up to the individual to decide.
How Long is a MBA Program?
MBA program lengths vary depending on the type of program you choose to pursue. Traditional two-year MBA programs typically require about four semesters of full-time graduate-level coursework for successful completion, while accelerated MBA programs are generally completed in one to two years.
Part-time MBA programs can take anywhere from two to three years to complete. Some executive MBA programs may even stretch out to three and four year time frames. It ultimately depends on the program, your desired completion timeline, and your individual work-life balance.
Why Get an MBA Instead of a Master’s?
An MBA is a more comprehensive degree than a Master’s in Business. MBA programs offer a broader business management curriculum, in addition to courses in finance, accounting, and economics. This type of degree prepares students for a range of management roles in the business world and can open up more opportunities for career advancement.
MBA programs also provide a more thorough understanding of the principles and practices of financial management and the financial markets. This deeper knowledge is often beneficial for those seeking to enter more advanced roles in the financial sector, such as investment banking or corporate finance.
How Do You Choose an MBA Program?
Cost
The overall cost of an MBA can range from $10,000 to $150,000. First students need to determine and understand the total costs of an MBA. This includes the cost of tuition and fees, books, supplies, and living expenses. When you compare the total costs of different schools you can determine if you can afford it. Many programs offer financial aid packages that can reduce the cost of tuition. Additionally, there are research scholarships and grants that can reduce the cost.
Program Format
Before you can choose an MBA in Finance program based on the program format, it is important to identify your specific needs. What type of program format would best fit your lifestyle and schedule? Do you prefer an online, full-time, or executive format? Consider the pros and cons of each format to determine the best fit for you.
Accreditation
Make sure the school you attend is accredited by a recognized accreditation agency. An accredited school has met the standards of quality established by the accreditation agency. Check to see if the program is accredited by a specialized accrediting body for finance and business programs. Examples of these bodies include the Association to Advance Collegiate Schools of Business (AACSB) and the Accreditation Council for Business Schools and Programs (ACBSP). Find out if the school has achieved any additional specialized accreditations, such as the Chartered Financial Analyst (CFA) Institute.
Career Opportunities
Look for programs that offer career services. The best programs offer career counseling and placement services to help you find internships and full-time jobs. An MBA in Finance program should have an extensive alumni network with which you can connect and benefit from their experiences.
Is an MBA Program Hard to Get Into?
An MBA program can be hard to get into, depending on the school and the applicant’s qualifications. MBA programs look for candidates who have a strong academic background, proven leadership skills, and a high level of motivation and ambition. As such, admission to MBA programs requires a very competitive application, including a resume, transcripts, letters of reference, and a personal statement.
Is Business a Good Career?
Finance careers provide financial stability and excellent employment prospects in business and finance. The Bureau of Labor Statistics (BLS) projects 5% job growth in business and financial occupations that will add more than 475,000 jobs between 2021 and 2031.
Finance professionals can work in diverse areas ranging from investment banking and corporate finance to personal financial planning and insurance. It also provides a chance to develop strong analytical and problem-solving skills, which are highly valued in the workforce.
How Much Can You Make with an MBA?
The amount of money one can make with an MBA depends on the individual’s experience, career goals, desired industry and the MBA program they choose. MBA graduates typically earn more than those without an advanced degree, and they are more likely to get hired in higher-paying roles. The median annual salary for MBA graduates is $105,000, but salaries can range anywhere from $60,000 to $170,000 or more.
Related: