Lawrenceobot009One popular degree option is business. The majority of the 2 million bachelor’s degrees awarded in the US during the 2019–2020 academic year were in business. Similarly, the most common field of study for master’s degree holders is still business.
There are a number of possible advantages to earning your degree online, including the ability to keep working, the ability to relocate, the possibility of more scheduling flexibility, and possibly even lower program expenses. To help you choose if an online business school is the right option for your education, we’ll go over the several kinds of online business degrees that are available as well as what to expect from them in this post.
How to Get Your Business Degree Online
Nearly all levels of business degrees, including associate’s, bachelor’s, and master’s, are offered online. Even though you can obtain a terminal degree in business, like a Doctor of Business Administration (DBA) or PhD in Business, there aren’t many of these advanced courses offered online. We’ll concentrate on the two more popular online business degrees you can get with that in mind.
Associate Degree
Earning an online Associate of Science (AS) in Business Administration will enable you to transition into a bachelor’s degree program or pursue entry-level business careers.
It is necessary to complete your general education requirements at the associate level before focusing on or specializing in business administration. To obtain an associate degree, you normally need to complete 60 credits, of which 12 credits must be applied toward your concentration or area of interest.
In your business concentration, you can expect to take introductory-level courses on:
- Principles of business
- Marketing
- Accounting
- Human resources
- Business technology
Completing an associate degree requires two years of full-time study. According to the College Board, the average annual cost of tuition and fees for an on-campus university was $3,800 in 2021. However, US News claims that the entire cost of shopping online might vary from $6,000 to $26,000.
If you need a break before pursuing a bachelor’s degree or want to have an academic degree to put on your resume in addition to the subject knowledge you’ll learn from your business classes, an online associate’s degree in business may be an excellent choice.
Bachelor’s degree
Online business administration degrees are available in both Bachelor of Science (BS) and Bachelor of Arts (BA) formats. Students can choose to focus on or major in any of a number of related business areas, including accounting, finance, marketing, human resources, and business studies.
You can start a business master’s program or pursue a number of entry-level jobs with your bachelor’s degree; however, it’s important to note that many MBA applicants take some time to get work experience before going back to school.
It is typical for the first two years of study to be devoted to fulfilling general education requirements, after which you will work toward your major for one-third to one-half of your college credits.
In your business major, expect to learn about foundational business subjects, such as:
- Micro- and macroeconomics
- Organizational leadership
- Principles of marketing
- Business ethics
- Introduction to statistics
- Strategic thinking
When pursuing a bachelor’s degree full-time, the program typically takes four to five years to finish. US News & World Report estimates the overall cost of an online bachelor’s degree to be between $38,496 and $60,593. In contrast, the average cost of tuition and fees for a single academic year is $10,740 for public schools and $38,070 for private schools. This amount does not account for other expenses like books, housing, or transportation.
If you want to grow in your business career or be eligible for more entry-level business employment, earning an online bachelor’s degree can be a smart choice. To begin on that professional path, a bachelor’s degree is often required for the majority of positions in the business and financial industries.
Benefits of studying business online
Although many recruiters still view in-person bachelor’s or master’s degrees more favorably than an online degree because it’s been the most typical way to earn that credential, as more education moves online—and more colleges and universities offer online programs—that perception has started to shift. A 2018 survey found that 71 percent of employers had hired a candidate with an online degree.
As such, earning your business degree online can qualify you for the same salary and in-demand jobs as an in-person degree would. The median annual wage for roles in business and finance was $76,570, according to the US Bureau of Labor Statistics (BLS), which is $30,000 more than the median annual wage for all occupations.
Here are some more benefits unique to online learning:
Flexibility: Unlike the rigid structure of in-person classes or the demands of relocating, an online business degree may offer more flexibility. For those who have other responsibilities, such as work or family, it can be a useful means of learning. In fact, 91 percent of online MBA students continue to work full-time while earning their degree [9].
Social networking: Many students earn their degree from an in-person college or university because of the social opportunities they gain from that experience. But a growing number of online degree programs foster interaction through discussion forums, virtual meetings, and more.
Begin applying what you know in real-time: If you plan to work while earning your degree, you can begin applying what you learn in real-time. Rather than waiting to graduate to implement what you’ve studied in your coursework, you can practice in a way that could inform and even strengthen your education.
Develop important skills unique to online learning: Whether online or in-person, earning your degree helps you develop valuable workplace skills. But online learning can help you hone specific skills, such as time management, the ability to work independently, and self-discipline.
Finding the best online business degree for you
Before you think about which type of online business degree you’d like to earn, it’s important to consider why you want to earn one in the first place. What do you want to achieve with a business degree? How might attending an online program help you reach your career goals?
Many programs publish annual employment reports, sharing data like the companies and industries that have hired past graduates, the percentage of graduates who received full-time job offers, and the type of work graduates go on to do. For each program you consider applying to, take time to review their recent employment reports and see how well their outcomes align with your desired results.
Here are some additional factors to consider as you compare online business degree programs;
Network: Regardless of how social you want to be in your potential degree program, it’s worth inquiring about how courses are taught and the opportunities you’ll have to network—with your classmates, alumni, and even professional speakers who may be hired for webinars, workshops, or other supplementary events. Your education is more than just what you learn in a course; the chance to build and expand your network can also be an important factor.
Career support: Many online schools and universities provide career assistance services similar to those available at in-person institutions. These kinds of materials can be useful as you finish your studies and look for new ways to utilize your education. Many colleges give employment placement information, allowing prospective students to learn what previous students have done with their degrees. Investigate what each program offers.
Explore further: Earning a business degree online will help you add a valuable credential to your resume and gain more specific subject knowledge. Explore online business degrees on Coursera, which are offered at both the bachelor’s and master’s levels in a variety of concentrations, to find an affordable choice that matches your schedule.
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