A Master of Business Administration, or MBA, is the premier business degree and one of the most popular graduate degrees offered. Online MBAs are rapidly increasing in availability and popularity as busy business professionals seize the opportunity to conveniently earn an advanced business credential.

MBAs can typically be completed within two years of full-time study, often involving a year of in-depth coursework, a second year of advanced study in an area of specialization, and often, a summer internship. MBA candidates can tailor their degree to a number of business areas, including:

• Finance

• Marketing

• Human Resources

• International Business

• Real Estate

• Accounting

More than 40% of traditional MBA programs also offer their programs online. Online MBA programs can be completed either full-time or part-time, making them especially convenient for working professionals.

How an Online MBA Works

An online MBA is a great option for someone with a full-time job, travel commitments, or a busy family life. Studying online provides the same quality education with the flexibility of studying when it's most convenient. Many online MBA students are professionals with years of business experience, and the global networking opportunities afforded online can prove to be invaluable.

Students typically receive lectures, questions, assignments, and other materials from instructors via email or through a website. After reviewing materials offline, students then complete assignments and return them to their instructors to be graded. Most colleges and universities afford students access to online libraries and other similar services to find more information. Peer networking opportunities are also commonly available through chat rooms and message boards. Some online courses are conducted in a live chat format where students and professors are connected online in real time for discussions.

Schools Offering Online Business Programs

Many institutions of higher education offer quality, accredited online MBA programs. Some providers include:

• University of Phoenix

• Kaplan University

• American InterContinental University

• Benedictine University

• Warren National University

• Capella University

Funding for Online Business Education

Online MBA programs generally have the same financial aid opportunities as traditional campus programs, including federal, state, and institutional aid. A combination of loans, grants, and scholarships are often used to meet tuition costs. Since many MBA students have full-time jobs, employer tuition assistance is another option that is frequently offered by employers. It is a great resource that candidates should explore, as many companies will cover the entire cost of an MBA program.

Employment

Employment candidates with an MBA degree are particularly attractive to corporate recruiters because of their ability to think analytically and strategically. Other positive skills students in an MBA program gain include quantitative, oral communication, and leadership skills. Most colleges and universities have strong relationships with local businesses that open up many doors to employment possibilities. Online students generally have the same access to career services as campus students, and many leading online MBA programs have a national presence with business relationships in many cities.

MBA graduates reported an average 41% salary increase after graduation in 2006, according to MBA.com, from just over $61,000 to $86,000. For most students, earning an MBA provides an immediate return on investment.

Summary

A growing demand for savvy business leaders and a prevalence of quality online MBA programs creates an ideal climate for businessmen and women to pursue this leading academic credential.