Menu
FAQ: Earning Your Master of Business Administration Online
If you're ready for your next raise or promotion, earning a Master of Business Administration (MBA) can help you achieve those goals. Having an MBA may also put you on a faster track to the C-Suite, since this advanced degree helps prepare leaders for a wide range of business challenges and opportunities.
MBA graduates are in demand because they understand how to improve operations, control costs and anticipate risks that can make or break a business enterprise. They also have the strategic and analytical skills that drive innovation and the ability to manage cross-functional teams. These are just a few of the reasons employers across many different industries value MBAs and compensate them accordingly.
Earning your Master of Business Administration online is a great option if you want to keep working as your knowledge grows. MBA coursework can help you stay current in your field while preparing for new management and leadership roles. If you are considering a career change, you can also build valuable contacts that expand your professional network. Entrepreneurs may benefit in this way as well, and some find that having an MBA helps attract potential investors.
Follow the links below to find out more about MBA programs and how you can earn this graduate degree online.
What Is a Master of Business Administration Degree?
The Master of Business Administration (MBA) is a graduate degree for working professionals and others who want to gain advanced knowledge in diverse areas of business. MBA programs can differ in emphasis, but most offer a range of general and specialized courses.
Online MBA programs tend to be the most flexible and convenient, since they are designed to meet the needs of students who are employed full time. Many offer a wider variety of concentrations than MBA programs on campus as well.
Northern Kentucky University's online Master of Business Administration program prepares current and future leaders to move up in their organization, change careers, start a company or disrupt their industry with the next big idea. Students receive a comprehensive education in business while also charting their own path.
The NKU MBA experience offers you the flexibility to choose from multiple course "stacks" that are focused on current and future high-growth fields. You can also mix and match courses to build the right skill set for your career goals.
Is an Online MBA Worth It? Is It Right for Me?
Many professionals who want to earn an MBA put off doing so because they assume the cost or time commitment will be too much. However, you may be surprised to learn that you don't have to mortgage your future or put your earning power on hold to take this important step forward in your career.
Accelerated online MBA programs are designed to help students learn and graduate faster, so you don't have to disrupt your life in order to go back to school. Most online programs also allow students to enroll year-round, or simply take classes whenever their lifestyle and budget allows. This means you can earn your degree and achieve your goals at a comfortable pace.
Do I Need a Bachelor's in Business Before I Can Earn an MBA?
Although some MBA programs require a Bachelor of Business Administration (BBA) for admission, the majority do not. Working professionals and new college graduates from many different academic backgrounds are now earning an MBA.
Online MBA programs often welcome applicants with diverse experience, who can enrich the learning environment for all students. A number of successful business leaders and entrepreneurs have started out in fields such as computer science, engineering, medicine, social work, the military or the arts, for example.
It's easier than ever to find an MBA program that's a great fit, regardless of your undergraduate major.
Spotlight: How an MBA Helps Entrepreneurs Succeed
Whether you plan to shake up your industry with a tech startup, bring an invention to market, start a small business or join maker culture with an online store, an MBA can help you succeed. The degree can also equip you with the knowledge necessary to avoid common mistakes new business owners make and grow your brand the right way.
Entrepreneurs use the core business skill set an MBA provides at every step of their journey, from concept, funding and production planning to marketing, logistics and sales. Advanced MBA coursework can also give you new insight in areas such as analytics, cybersecurity and data management that will help you improve your existing business or build new client networks to support expansion.
Interdisciplinary online MBA programs are a great option for entrepreneurs and others who prefer to personalize their degree. You can mix and match concentrations by industry, or even pick individual courses to create a specialization based on your interests. At NKU, for example, you can choose your own online MBA adventure and tailor your education to your needs.
Will I Get the Best ROI With an Online MBA?
Your ROI with an online MBA will depend on a variety of factors that include your industry and career path. However, choosing the right MBA program may be most important thing you can do to help ensure a positive return.
Accredited online MBA programs at public universities are an attractive option because they tend to be more affordable, leading to a quicker ROI than higher-priced on-campus or private programs. You may also see a faster return if you enroll in an accelerated online MBA program you can finish in two years or less.
Annual research by the Graduate Management Admission Council (GMAC) continues to show strong demand for MBAs, driving robust recruiting, high starting salaries and positive ROI. GMAC reports that the median annual base salary offer for new MBA hires is also much higher than for bachelor's graduates. This is further evidence that boosting your earning power with an online MBA can pay dividends right away.
What Dual Study Online MBA Programs Can I Pursue?
Most online MBA programs feature core courses in management and leadership, as well as accounting, finance, planning and operations. MBA coursework also often addresses the legal and regulatory aspects of doing business, in addition to strategies and technologies that promote organizational success. However, specializing your business degree to your field of interest provides you with niche experience and skills that will give you a leg up in the job market.
NKU students have the option to specialize their degree with a handful of dual study online MBA programs. The five dual study MBA degrees offered online by NKU include the following:
- MBA in Data Analytics and Finance
- MBA in Health Care Commercialization and Marketing
- MBA in Human Resource Management and Legal Studies
- MBA in Leadership and Global Supply Chain Management
- MBA in Marketing and Innovation Through Competitive Intelligence
Each dual study program provides students with six courses that will prepare them for their area of interest. With foundational business knowledge and specialized skills, students are equipped for success in any number of fields.
What Is an MBA Capstone?
The MBA capstone is a culminating course, or set of classes, that allows students to showcase what they have learned and demonstrate proficiency in their field or specialization. Capstone requirements vary by MBA program but can include case studies, exams and individual or group projects.
Students typically address a complex business problem during their capstone, applying new knowledge and skills gained through coursework as well as their own research.
At NKU, online MBA students complete their capstone in two courses. Each includes a comprehensive business review in addition to opportunities for critical thinking, problem solving and innovation.
Do MBA Programs Require Internships?
Many MBA students complete an internship as part of earning their degree, and a number of programs do have this requirement. It's less common in online MBA programs, however.
Professors in most online MBA programs understand that students with significant work experience may not need an internship. They also know that students holding a full-time job or raising a family may not be available to intern in addition to their current responsibilities. Programs that approach graduate internships as an option rather than an obligation give future MBAs more autonomy, and the chance to decide for themselves.
NKU's online MBA program does not require students to complete an internship during their studies, or as a condition of graduation. Students who feel an internship would be beneficial are welcome to arrange their own or work with faculty to explore potential opportunities.
Are Online MBA Programs Accredited?
Online and on-campus MBA programs are accredited by the same organizations. Business-school accreditors include the International Accreditation Council for Business Education (IACBE), the Association of MBAs (AMBA) and the Association to Advance Collegiate Schools of Business (AACSB).
During the accreditation process, reviewers look at professor credentials, curriculum, teaching methods, graduation rates, career preparation and more. AACSB accreditation is considered the most desirable, due to the high standards that business schools must meet to earn it. For this reason, many MBA students seek out programs with this elite designation.
NKU's Haile College of Business and its degree programs are AACSB-accredited. The university is also regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
Why Does MBA Accreditation Matter?
Studying in an accredited MBA program has several distinct advantages that position you for success before and after you graduate.
For instance, accreditation gives you access to a wider range of resources for funding graduate school. If you want to use state or federal financial aid, military education benefits or workplace tuition reimbursement to pay for your degree, enrollment in an accredited school or program is required. Students in unaccredited MBA programs don't qualify for these forms of assistance.
Corporations, government agencies and nonprofits often prefer to hire MBAs from accredited schools and programs, and recruiters also look for this when reviewing job candidates. Employers know that standards for MBA students are higher in accredited programs, and that their graduates know how to lead teams, make data-driven decisions and solve problems.
What Are the Admission Requirements for Online MBA Programs?
Criteria can vary, but most require a bachelor's degree and a GPA that meets the program's minimum standard for admission. Applicants will usually provide transcripts as well, plus a resume that demonstrates their leadership qualities and highlights their achievements. Some online MBA programs require Graduate Management Admission Test (GMAT) or Graduate Record Exam (GRE) scores, and many ask for letters of recommendation or an essay.
NKU takes a holistic, portfolio-based approach to MBA admissions based on each applicant's professional background, academic credentials and goals for graduate study. Materials and information required as part of NKU's online MBA application include a resume, a brief essay and official transcripts documenting your coursework and GPA. See the full admission requirements for additional details.
Do Online MBA Programs Accept Students Over 35? Will I Fit In?
Yes! Most programs welcome applicants from all age groups. Many online students begin their MBA journey at mid-career or later. Some pursue the degree after a break to raise children or care for aging parents. Seasoned professionals may also have different reasons for earning an MBA than new college grads or early career managers.
An online MBA program could be a great fit whether you have short-term goals such as upskilling or changing industries, long-term goals such as starting a business during retirement or simply the desire to learn and earn more. Coursework is accessible to new business students while also meeting the needs of those with more work and life experience. That means that any stage of your career could be the right time to earn an MBA.
What's the Career Outlook for MBA Graduates?
Annual surveys conducted by the Graduate Management Admission Council consistently indicate that MBA employment is strong and on the rise. GMAC vast majority of recruiters in all industries plan to hire new MBA graduates, and believe that business school grads have a fast track to upper management.
MBAs are in demand across many areas of business, from finance, marketing and analytics to technology, construction, supply chain management and more.
A shortage of management consultants is also creating great opportunity for MBAs. A graduate education in business prepares job candidates to take on leadership roles in this field and many firms are now increasing salaries to attract and retain MBA talent.
Will I See a Salary Bump With an MBA?
The post-degree pay bump you see may vary depending on your location, industry and other factors. But there's no doubt that employers value MBAs.
GMAC reports that the median starting salary for MBA graduates at companies in the U.S. is over $100,000, significantly higher than the median starting salary for new hires with a bachelor's degree alone. Hiring bonuses can also increase your compensation, regardless of your salary level.
An MBA can help you earn more at your current company or organization as well. You may become eligible for a raise based on earning the degree, or promotion to a higher-paying strategic or management role.
How Much Can MBA Graduates Make in Consulting?
Consulting pay often depends on the firm, the clients served and the consultant's focus area or expertise. While some top recruits at the largest consulting firms can earn over $200,000 annually in pay and incentives combined, most early career professionals in the field earn salaries in the $100,000 range. Boutique firms also offer great opportunity and excellent pay for new MBAs who want to build their knowledge while developing new business networks through consulting.
Spotlight: Spotlight: MBA Opportunities in Healthcare
As more nurses and physicians discover the career benefits that come from earning an MBA, they are joined by business students from all backgrounds entering the healthcare field.
MBA students specializing in healthcare understand its management, operations and logistics issues in addition to market trends and how consumer behavior impacts the bottom line in medicine. MBA expertise gives current health professionals a competitive edge for roles in administration and helps all graduates compete for high-paying jobs across the industry.
Leadership opportunities include positions in hospitals, healthcare systems, pharmaceutical and insurance companies, medtech, health IT and more. Graduates with the right MBA skill set to succeed in this dynamic field will continue to be in demand.
How Much Do Online MBA Programs Cost?
Online MBAs can be less expensive than many on-campus MBAs at public and private universities, but they also range in price. For instance, online MBA programs within the same region can have very different tuition rates and timelines. The number of credit hours you'll complete to earn your degree can also impact your final cost.
It's good to keep your budget in mind while doing your research as well, if you're seeking a high-quality online MBA program with affordable tuition. Students in NKU's AACSB-accredited online MBA program pay $460 per credit hour and $15,708 total for the degree.
Will I Have to Pay Out of State Tuition if I Study Online?
It's important to check tuition policies for online MBA programs you're considering before you apply, because some universities do charge out-of-state students extra. That doesn't mean you should be stuck paying more than your in-state classmates for the same degree, however. Choose a business school that charges all online students the same tuition rate if you are concerned about the cost difference, so you can find the right MBA education for your budget.
All students in NKU's online MBA program pay the same low tuition and fee rates, regardless of their state residency. This makes MBA study more affordable wherever you are.
Can Online MBA Students Get Financial Aid or Tuition Reimbursement?
Yes. Many online students receive some form of financial aid or workplace tuition assistance to help pay for their MBA.
Visit the U.S. Department of Education website and submit a Free Application for Federal Student Aid (FAFSA) to begin the qualification process for government-sponsored programs. Grants, loans or scholarships may be available, depending on your eligibility. Check with your company or organization's HR department to learn whether tuition reimbursement is available for employees.
You must enroll in an accredited school or program to receive state or federal financial aid, as well as tuition benefits through most employers.
Can I Use My Military Education Benefits to Pay for an Online MBA?
Yes, as long as your MBA program or university is accredited. Many veterans, active-duty service members and reservists use their military education benefits to pay for graduate education, online degree programs included.
The U.S. Department of Veteran Affairs offers education funding through the Montgomery GI Bill, the Post-9/11 GI Bill and other programs. Learn more about eligibility for military education benefits at the VA website.
Can I Get Help Certifying My Military Education Benefits?
Yes! Most universities provide this type of support for members of the military and their families.
NKU's Veterans Resource Station can provide assistance with the benefit application and certification process as well as transferring education benefits to your spouse or dependents.
How Long Does it Take to Earn an MBA Online?
Many programs require two years of study, but some can be completed in a little as a year. The time it takes to earn your MBA online can also depend on your availability and schedule. Take classes one-by-one if you like, or double-up whenever you have the bandwidth and graduate faster. It's all up to you.
NKU's online MBA program is designed to help students complete degree requirements as quickly as they choose. With multiple course start dates per year, motivated students can earn their MBA in as few as 12 months.
Can I Earn an Online MBA and Still Work Full Time?
Absolutely. Online MBA programs are made for working students. You have the freedom to decide where and when you study, which is important if the inconvenience of in-person classes has stopped you from earning a master's degree. Online courses are available 24/7, and weekly assignment deadlines make it easier to fit grad school into your normal routine.
If you're a working parent, earning your MBA online could be a great option for your family as well. Watch a lecture on your smartphone during weekend soccer practice or jump into a discussion forum on your tablet while dinner is cooking. Some parents join their kids at homework time too, studying and doing projects side-by-side.
As many successful online MBA graduates have discovered, you don't have to lose precious time on the job or with loved ones to advance your career through graduate study.
What Should I Expect in Online MBA Classes?
Online MBA courses are not substantially different than on-campus MBA courses. You can expect readings, lectures, assignments and grading to be similar in both formats. At most universities, your class materials will also be located in same learning management system (LMS) that on-campus students use, such as Canvas, Blackboard or Moodle.
Learning 100% online does have some distinct advantages, however. Courses move faster, with learning modules designed to accelerate your progress and build competency in weeks instead of months. You'll also watch professor lectures online and upload your assignments instead of handing them in. You can even check grades and meet with professors and classmates without ever having to come to campus.
What Are the Technology Requirements for Online Courses?
If your computer can handle email, video and audio streaming, internet research and file transfer (uploads and downloads), you're off to a good start. You'll also need a webcam and a microphone. Most laptops come equipped with these features, but a tablet or smartphone may work for some aspects of online study.
You will need to create spreadsheets and presentations for MBA assignments, and write papers, so make sure you have programs you can use for those tasks. A peripheral drive or cloud storage for large files is also good to have.
Universities have their own technology requirements as well, so check with MBA programs you might be interested in to ensure you're prepared for online courses.
Which Student Services Are Available to Online MBA Students?
Most universities provide a range of services for graduate students learning online, from tech support to tutoring. If you're not finding all of the resources you need, check with online MBA programs you're considering for more information before you enroll.
NKU offers a number of student services online, including remote access to the W. Frank Steely Library. Digital books, journal articles and research guides are available in addition to one-to-one support from librarians and staff. The Writing Center and Career Services office also work with students online, and IT Help Desk services are available by phone or live chat with a specialist.
How Do I Work With MBA Professors Online?
It's easy to communicate with your MBA professors online through email and video chat. Some programs also feature live lectures with class discussions. Many professors are available to meet with students by phone, or for check-ins by text if needed.
Online MBA professors at NKU work closely with their graduate students throughout the program, as instructors and mentors. Interactive lectures take place on Zoom and are recorded for students who can't join the live session. Lectures are also available to watch or review 24/7.
Professors hold virtual office hours each week as well and are available to meet with students whenever it's most convenient.
How Can I Connect With My Online MBA Classmates?
Online MBA courses provide ample opportunity for students to connect, both academically and socially. MBA students regularly work together on assignments, exchanging perspectives on business and learning from each other's experiences. You can also schedule meetups or group study sessions via chat and use online collaboration tools to complete projects together in real time.
Many students connect on social media during their MBA program as well, and some even go into business with MBA classmates after graduation.
Do Online MBA Programs Have Alumni Networks?
Graduates of online MBA programs are usually eligible to join their school's alumni association and take advantage of the networking opportunities it provides. Some universities also have business school alumni groups as well.
All NKU graduates enjoy automatic membership in the NKU Alumni Association. Graduates of the online MBA program can also showcase their products and services in the Norse Business Directory and connect with peers from across the country.
