Part-Time MBA Programs 2021

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An MBA degree prepares graduates for top managerial opportunities in diverse industries including healthcare, finance, information technology, and manufacturing. Most programs include leadership classes in addition to content and research coursework.

The Bureau of Labor Statistics (BLS) reports a median annual salary of $72,250 for business and finance occupations, much higher than the median salary for all occupations ($41,950). Executive positions, for which many MBA degree-holders qualify, boasts even higher median salaries ($185,950). Whether students pursue an on-campus or online MBA program, they can enjoy the same benefits upon graduation since schools typically offer only one curriculum for both delivery options.

Part-time MBA Questions

Why Get an MBA?

A recognized degree worldwide, an MBA can present degree-holders as knowledgeable and skilled professionals with well-honed leadership and entrepreneurial abilities. Accredited U.S. colleges and universities offer multiple options for an MBA degree. Students can pursue a full-time or part-time MBA, an online or on-campus program, or a general or specialized MBA degree.

Online enrollees often pay less for the same education and training that on-campus students receive since they incur additional housing and other onsite expenses. Most students can continue working while pursuing an online part-time MBA, which means they do not suffer a significant loss of income.

How Much Does an MBA Cost?

According to the National Center for Education Statistics, graduate students enrolled in a public college or university within their home state paid an average of $12,171 for the 2018-2019 academic year. Students who pursue a degree at a private institution pay a much higher amount — $27,776. MBA candidates can expect enrollment costs to approximate these amounts.

Some schools allow out-of-state, online enrollees to pay in-state tuition. Since the difference between resident and nonresident tuition can be substantial, online learners should find out whether a prospective college or university offers this opportunity.

Institutions generally maintain a different tuition structure for part-time MBA students. While the initial outlay may be lower (part-time students pay for fewer credits per enrollment period), part-time students may pay higher fees and other costs since degree completion typically takes longer.

How Much Do MBA Majors Make?

Several factors impact an MBA degree-holder's salary, including the industry and state where they choose to establish their career. According to BLS data, the following industries pay the highest salaries for professionals: securities and commodities firms ($119,950), financial investment funds ($108,700), and computer and peripheral equipment manufacturers ($106,670).

Business and finance professionals working at the District of Columbia earn the highest median salary ($103,290), followed by New York ($98,960), New Jersey ($92,330), Massachusetts ($91,480), and Virginia ($88,480).

MBA degree-holders who work as chief executives earn even higher salaries, especially professionals working in the computer and peripheral equipment manufacturing industry ($274,380). South Dakota pays chief executives the highest salary ($259,430), followed by New Jersey ($258,450), the District of Columbia ($253,820), Connecticut ($247,310), and Washington state ($243,150).

Courses in MBA Programs

MBA coursework varies between colleges and universities. Most schools, however, offer similar foundation courses in financial management, human resources, and marketing research.

In addition, many on-campus and online MBA programs offer specialization areas for enrollees. Popular MBA concentrations include finance, marketing, information technology, and global business. Schools offering MBA concentrations deliver courses supporting these fields, although not all classes include an online format.

The three courses described below represent subjects commonly included in general MBA programs.

• Financial Management

  The course familiarizes enrollees with various financial tools and concepts commonly used in decision-making processes such as risks and returns, optimal capital structure, valuation of securities, and corporate liabilities. The course teaches students how to budget company resources and determine the ratios that measure efficiency, liquidity, and profitability.

• Global Strategic Management

  The course demonstrates the complexities of business engagement in a competitive global environment. Students explore key strategic management principles and learn how to implement and adapt them to various international business settings and different industries. The course teaches enrollees how to make strategic decisions that allow businesses to address existing challenges while continuing to achieve long-term objectives.

• Operations Management

  Topics covered include inventory control and planning, forecasting, strategic materials sourcing, and transportation and warehousing. Students learn how to implement different operational tools and techniques to boost productivity, improve competitiveness, and increase profitability. The course includes a review of cutting edge software and hardware technologies to enhance overall efficiency.

Certifications and Licensure for MBA Students

Industry-recognized certifications (such as the three described below) help present degree-holders as fluent in the field's specialized knowledge and skills. For MBA degree-holders, a certification in a specific field can qualify them for top leadership positions with greater responsibilities and higher salaries. A reputable credential sets learners apart from other candidates, especially in highly populated and competitive fields.

Scholarships for MBA Students

At the master's level, students can usually apply for fellowship programs that often come with research or teaching responsibilities. Some fellowship or scholarship programs also include a stipend or living allowance. MBA students can explore funding from their employers, government agencies, professional organizations, and private nonprofit groups with ties to the business field.

Part-Time Online MBA Programs 2021