Pursuing an online business degree can equip individuals with versatile business knowledge and specialized skills to excel in various career paths. A bachelor's degree program covers fundamental business topics, while a master's program, such as an MBA, builds more advanced skills.
For admission to a bachelor's program, applicants need a high school or GED diploma. Depending on their age, they may also be required to submit their SAT or ACT scores. Prospective enrollees seeking admission into a master's program must hold a bachelor's degree, which may not necessarily be in business. Additionally, they may need to provide scores from graduate exams such as the GRE or GMAT.
Frequently Asked Questions About Business Degrees
1. What is the typical duration of an online business degree program?
A full-time enrollee can typically complete a bachelor's degree in four years and an MBA in two years. There are also accelerated business programs that allow learners to graduate sooner.
2. How much does an online business degree cost?
The tuition rates vary depending on the program and school. According to EducationData.org, the average cost of an online bachelor's degree program as of August 2021 was $51,090.
Yes, it is possible to obtain a business degree online. Numerous reputable institutions offer online business degree programs that provide students with comprehensive knowledge in management, marketing, economics, and finance. Although some programs might require in-person attendance, many of the best online business degrees are entirely online.
Advantages of Pursuing an Online Business Degree
Pursuing a business degree online offers several advantages. Students can continue working and earning an income while acquiring essential business skills and knowledge. Additionally, online learning provides learners with the flexibility to complete coursework and assignments at their convenience while networking and connecting with other aspiring business professionals.
The Importance of Choosing the Right Online Business Degree Program
Choosing the right online business degree program is
Determining the cost of an online business degree depends on several factors such as the school, degree level, and program duration. Private institutions typically have higher tuition fees compared to public institutions. In-state public colleges usually offer the most affordable tuition rates.
According to the latest available data, the average annual tuition for a bachelor's degree in a public college during the 2018-2019 academic year was $20,600, while private colleges charged an average of $44,660. However, it's worth noting that these figures include room-and-board fees, which online learners do not have to pay.
For those pursuing a master's degree during the 2019-2020 academic year, public colleges charged an average annual tuition of $12
Online Student Fees Explanation
As an online student, you may not incur campus housing or meal plan fees. However, you may be required to pay technology fees that cater to online learning tools and technical support. It is also essential to allocate adequate funds towards purchasing textbooks and class materials. Some programs may charge a graduation fee.
It's worth noting that some of the best online MBA programs may include on-campus requirements. In such cases, online students should factor in travel and lodging expenses.
What is the Salary Range for Business Majors?
Business graduates have the opportunity to explore diverse career paths in fields such as marketing, sales, finance, and accounting. According to the National Association of Colleges and Employers, the starting salaries for graduates with a bachelor's degree in business range from $48,000 to $59,000, depending on their chosen field.
Those interested in boosting their salary potential can pursue an advanced degree such as an MBA. In 2020, MBA graduates earned a median annual salary of $115,000, a rate higher than that of most bachelor's degree holders. The top online MBA programs equip students with the skills and knowledge necessary to secure high-paying management positions.
Business Majors: Specialization Options
Several top online business degree programs provide specialization options for students. These programs may refer to these as tracks or concentrations, and they are available at both the undergraduate and graduate levels.
For MBA candidates, there are programs that focus solely on specific specializations. Additionally, even if a business program does not offer a specialization track, students can still choose elective courses that align with their interests.
Outlined below are three popular business specializations; however, it is important to note that not all programs provide these tracks.
Human Resource Management is a specialized field that involves the implementation of best practices for managing an organization's workforce. This area of study encompasses knowledge of benefit and compensation systems, mediation techniques, and talent acquisition strategies. Graduates of this program are qualified to work in HR departments, or they may choose to pursue a master's degree in HR Management for further career advancement.
Information Technology Management is a critical specialization that equips students with the skills to manage IT departments and address technical issues. Organizations rely heavily on technology tools, and this program prepares students to assess a company's technological needs and implement new systems. Graduates may pursue careers as IT managers or chief technology officers.
Marketing is a specialization that focuses on comprehending consumer behavior and communication with customers efficiently.
