Montgomery Burns, of Simpsons fame, made much of his Yale MBA. An online MBA could put you too on the path of becoming a tycoon.

 

While the economy has taken a downturn over the last quarter, starting salaries for MBA graduates have risen by 5.1%, according to a July 3 report in BusinessWeek. For many working adults, the question of upward mobility weighs heavily in the decision to pursue an online degree. While now is as good a time as ever to enroll in an MBA program, the monetary return you will see on your educational investment will vary depending on several key questions. Here’s a run-down of the questions, and the answers, surrounding the decision to pursue a Masters of Business Administration.

 

First, does your employer offer a tuition reimbursement program? Talk to your Human Resources department about the different opportunities available to you. Companies usually recognize the value inherent to employees with MBAs, and reward those who choose to pursue the additional degree in various ways.

 

Second, what kind of degree is in demand? As with any market decision, the program you select should be in a field that lacks qualified MBA-holders relative to demand. While it is important to pursue an MBA program you’re interested in, your decision-making calculus should be informed by economic trends.

 

Third, will your current employer move you up the corporate ladder once you receive the degree? Very few things are worse than the realization that the degree you worked hard for is virtually worthless. Make sure you discuss your MBA plans at length with your employer before committing to a program.

 

Fourth, should you pursue your MBA online or at a traditional brick-and-mortar school? Once again, this depends on your personal situation. If you can afford to be a full-time student, and have taken and received an excellent score on the GMAT, then brick-and-mortar schools are a great choice. However, most brick-and-mortar business schools are exorbitantly expensive, so even if you fit in the aforementioned group you may not be able to afford a program. In the past, these limitations have kept an MBA out of reach for all but a privileged few. Today, an alternative exists—online MBA programs.

 

While the idea of online learning is scorned by some, primarily as a result of the proliferation of unaccredited degree mills, many well-respected schools (including well-known schools like Northeastern and Harding) now offer MBA programs online. Numerous Fortune 500 companies also have partnerships with online MBA programs, proving that online MBAs have value in the market. Online MBAs are not only more affordable than full-time programs, but they offer the flexibility and convenience of the internet paired with the structured support of qualified faculty.

 

Finally, something to keep in mind: when choosing an online program, it is critically important to shop around. Do your research and speak to people at each school you consider.

Tags: Career Education, Online Education