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Obtaining an MBA is becoming increasingly popular these days. And it makes sense -an MBA can fast-track many people to a coveted position more quickly than without. Many companies won’t even consider a potential employee if he or she hasn’t attained this degree That’s why, if you’re a business major or hope to get into the world of management someday, you must at least consider getting one. It could serve you very well in the long run.
That said, the cost of an MBA has also risen too. With more businesses requiring the MBA and more students out to get one, the cost is slowly but surely going up. If you prefer on-campus classes to online learning. then you can expect to pay upwards of at least 150,000 or more, especially if you want to attend an elite school. So, here are a few thing to think about.
More people are choosing to do their education online these days. It’s a bit more flexible and it will cut down on some of the costs. You can spend more time with your family. You also don’t have to move to another location. Moving on-campus can be stressful by itself, so that can be a huge plus. Distance-learning can help to take care of the stress, but not all employers will look favorably on this type of degree. Consider the fields and positions you envision yourself in, and do the research to see what’s valuable.
Online learning can cut down on costs in some respects, but add to your wallet in others. Some students spend upwards of $100,000 or more on online learning. So one way to go is to look for the cheapest of schools. But this can also come at a price too, as usually the better a school is, the more it costs.
Make sure (before you apply to a school) that they’ll offer the necessary credits that you need. Some schools will say they have the credits to transfer anywhere, but for some of the cheaper schools, this is a lie. Plus, if you do go to that school and finish there, they might not have the most credible reputation to stand up to in the job market. You always need to think about what’s going to happen after you graduate, or if you have to transfer.
Bang for Your Buck
Many schools now offer joint or dual degrees with business. For instance, a law degree and business degree is becoming very popular. Other options include MD/MBA, Journalism/MBA, International Relations/MBA, etc. These often come at little to no extra cost, due to the flexibiltiy of the curricula and nature of the required courses. For more information on dual degrees like this, check out http://www.thebestcolleges.org.
The Top Schools
Some of the best-value schools to get an MBA include the University of Iowa, the University of Massachusetts, the University of Florida and Arizona State University. All of these schools rank in the top ten. Before you make your choice do research and find out how reputable they are for you.
That’s the most important thing to keep in mind about this journey. Is the school going to work for you? Many choose based on the reputation of the school and how it fits into the world image, like “the University of Florida is one of the top ten ranked schools therefore, it must be the best school for me.” Before you go off on that train of thought, figure out how it fits into your plans. If your plans and the school’s abilities don’t match up,you need to keep looking.
Joseph Rodriguez writes all about business and education. His recent work is on the best joint-degrees in IT and Business in the midwest.
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Good luck in your search.