Indiana, UNC Keep Top Spot in New U.S. News Online MBA Ranking
One year after the University of Indiana Kelley School of Business and University of North Carolina Kenan-Flagler Business School grabbed the top mantle in the U.S. News & World Report “Best Online MBA Programs” list, the two schools managed to hold the first spot yet again in the publication’s updated 2020 Online MBA ranking.
Continue reading…The Top 5 Finance Programs in Florida
The state of Florida, recently described as an “economic powerhouse” by Business Insider, is a hotspot for businesses large and small. With the third largest population in the country, and the fourth largest economy, MBAs are wise to explore their options in the Sunshine State.
Continue reading…Inside the 2019 ‘U.S. News’ Best Online MBA Program Ranking
Where is the best online MBA program in the country? Who tops the charts when it comes to student engagement, student excellence, academic faculty, and more? The U.S. News & World Report just released its 2019 ranking for the “Best Online MBA Programs” in the US. The Online MBA programs at Indiana University’s Kelley School of Business and UNC Chapel Hill’s Kenan-Flagler Business School each came in tied at first place. Continue reading…
The Five Most Valuable Online MBAs
Choosing an online MBA program isn’t easy. Not only do you need to look at rankings, but you also have to look at what the program offers and how affordable it is. After all, the goal of an online MBA is a great return on investment. So, how do you find the most valuable Online MBA programs?
We’ve searched through the U.S. News and World Report on the “Best Online MBA Programs” to find which ones can give you the best experience at the best cost.
The programs on this list rank in the top 25 “Best Online MBA Programs,” and cost under $1,400 per credit.
The Five Most Valuable Online MBA Programs
Indiana University
Tied for first as the best online MBA program in the country, Indiana University’s Kelley School of Business is also affordable.
The Kelley Direct Online program offers the ultimate in flexibility. Students can take between two to four years to graduate and tailor their classwork to their goals. Online MBA students will cover such topics as business law and ethics, economics, marketing, finance, operations, information technology, and project management. They’ll also have the opportunity to study abroad in one of Kelley’s global hubs located in Botswana, Brazil, China, India, Myanmar, South Africa, and Cuba.
- Cost: $1,330 Per Credit (out-of-state)
- Ranking: #2
Arizona State University
Ranked as the 5th best online MBA program in the U.S., Arizona State University’s W.P Carey School of Business won’t break the bank either.
The Online MBA at ASU is designed to work with students no matter where they live. The program is incredibly flexible with just five weeks per class and 17 total classes. Interested students can expect to take classes covering a range of topics including strategic management and global thinking. Classes start in either January or August with students taking the same curriculum taught by the same faculty as the full-time and part-time programs.
- Cost: $1,216 Per Credit (out-of-state)
- Ranking: #5
University of Florida
Ranked at 6th overall, the University of Florida Hough Graduate School of Business also offers an affordable online MBA program.
The UF Online MBA offers the ideal balance of work, life, and school commitments. Students can graduate in just 24 months without visiting campus, with courses taught by the full-time MBA faculty. Students cover the same topics as their full-time brethren with courses on financial accounting, economics, and more. There is also an optional Global Immersion Experience opportunity.
- Cost: $1,255 Per Credit (out-of-state)
- Ranking: #6
Lehigh University
Ranked at 19th on the U.S. News and World Report list, the online MBA at the Lehigh University’s College of Business and Economics is incredibly affordable.
The Online Flex MBA at Lehigh University is AACSB accredited and places high emphasis on maintaining excellence. Students can complete the program in as little as 16 months while taking classes on a variety of topics including managing financial and physical resources, corporate entrepreneurship, international business, and marketing. Students can also choose to pursue a concentration in one of six fields including: corporate entrepreneurship, finance, international business, marketing, project management, and supply chain management.
- Cost: $1,075 Per Credit (out-of-state)
- Ranking: #19
University of Delaware
The University of Delaware’s Lerner College offers the most affordable online MBA on our list while still ranking in the top 25.
Last but certainly not least, the Lerner Online MBA is designed to provide students with the decision-making skills and analytical tools to succeed. The program is entirely online with a customizable curriculum that can be completed in as little as 16 months. In addition, students can choose between five concentrations including business analytics, finance, healthcare, strategic leadership, and international business. Each course is seven weeks long and taught by a Ph.D.-qualified faculty member.
- Cost: $812 Per Credit (out-of-state)
- Ranking: #22
Runner’s Up
- University of Texas at Dallas: The Naveen Jindal School of Management’s Online MBA program is ranked #6 in the nation and costs $1,402 per credit (out-of-state).
- Hofstra University: The Zarb School of Business Online MBA ranks 36th on the list and costs just $1,596 per credit (out-of-state).
- Syracuse University: Ranked 42nd, the Syracuse University Online MBA costs just $1,500 per credit.
How to Get Your Employer to Pay For Your MBA
Earning an MBA holds tons of value in the business world—an advanced business degree can open doors that may otherwise have been closed, and boasts a high return on investment thanks to the top-level salaries that MBAs command.
Graduate school—and all of the coursework that comes with it—can be an intimidating challenge, but paying for it doesn’t have to be. Aside from scholarship, grant and fellowship opportunities at business schools across the country, more and more companies are placing a higher importance on tuition reimbursement programs, and expanding opportunities for paid MBA tuition reimbursement.
How can you get your employer to pay for your MBA studies? Let’s take a closer look.
Getting Your Employer to Pay For Your MBA
First thing’s first: You need to find out if your current employer offers tuition reimbursement to its employees. The terms of reimbursement vary depending on the company, with some corporations not offering any sort of program at all. Those that do offer some sort of compensation may do so on a course-by-course basis, or as a lump-sum reimbursement package for coursework in relevant degree plans.
“Organizations typically support MBA pursuits for two reasons,” J. Todd Rhoad, managing director of Atlanta’s BT Consulting, told USA Today. “Employee development and succession planning. In the first case, companies support the cost of MBA programs as part of their commitment to employee training and development.”
If you want to convince your employer that your education is worth investing in, you’ll need to show that earning an MBA will further your business acumen and understanding of your industry, and ultimately help your company reap those benefits.
“Usually, an employee has to already been delivering great results within the company,” Roderick Lewis, international relations director at the ISCTE Business School, University Institute of Lisbon, told Business Insider.
“If you haven’t already convinced your company, then asking them to [sponsor your education] becomes really difficult,” Lewis says.
USA Today also outlined a few checkboxes to hit when determining how valuable earning an MBA would be for your organization:
- Do current members of middle or upper management hold advanced business degrees?
- Does your company have the available revenue to invest in employee education?
- Would someone with the type of advanced training you seek bring clear advantages to the company?
If those point hold true in your situation, then start researching which programs specialize in providing the skills that your company needs. Keep in mind: You do not have to limit yourself to business schools in your metro thanks to popularity of Online MBA programs. There may have once been a stigma against online programs, but the of the matter fact is that many of the top online MBAs on U.S. News & World Report’s annual rankings also rank highly on the publication’s top campus-based graduate business programs list.
Some of these schools include:
- University of North Carolina – Chapel Hill (Kenan-Flagler)
- Indiana University – Bloomington (Kelley)
- Temple University (Fox)
- Arizona State University (Carey)
- University of Florida (Hough)
- Carnegie Mellon University (Tepper)
- University of Texas – Dallas
Once you’ve found the right program, you’ll want to craft a brief proposal for your employer. In it, you’ll want to mention how you fit the company’s tuition reimbursement policy, and list the advantages that continuing your education can bring you and your company. Don’t shy away from providing data on how much assistance you may need and how this investment will pay off for everyone, while also ensuring your employer that you’ll remain committed to the company during your degree program, or won’t jump ship after earning your degree.
“A proposal should address the benefit to the company,” Rhoad says, “(including) areas where the company could improve and how you will help them, a review of the courses to be taken and how they will provide knowledge that can help improve the company’s performance.”
Companies That Provide MBA Tuition Reimbursement
Investopedia recently compiled a list of companies have stated that they place a high value on their tuition assistance benefits, and provide tuition reimbursement for the educational costs of an MBA.
According to Investopedia, consulting companies lead the market in tuition reimbursement programs for MBA courses. These firms also pay the highest salaries for MBA alumni. Deloitte has the most robust tuition reimbursement plan, providing employees with up to $10,000 per year in MBA reimbursements. The firm requires two years of work with the company and a commitment to work for the company after graduation in order to receive the tuition assistance benefit.
Financial institutions and banks also place a high value on employees with MBAs, and provide tuition assistance. One example is Bank of America, which provides employees with annual tuition assistance of up to $5,250 for advanced degree coursework. Wells Fargo also has a track record of paying for MBAs, doling out up to $5,000 annually for tuition expenses.
The booming tech sector is also hiring MBAs left and right, with some firms developing their MBA talent in house by offering to pay MBA tuition expenses. Apple tops the list of tech companies offering tuition assistance, providing reimbursement of up to $5,000 annually. MBA degrees are even more coveted in the the specialty defense technology sector, as Raytheon, one of the top defense technology companies in the world, offering to pay up to 100 percent of employees’ college tuition for graduate school.
Other leading companies offering tuition reimbursement to employees include:
- Chevron: A market leader in the energy sector, Chevron offers offers tuition reimbursement of up to 75 percent for its employees.
Ford: Ford’s education tuition assistance program provides employees with tuition reimbursement of up to $5,000 annually for an MBA. - Procter & Gamble: This firm has one of the leading tuition reimbursement benefits in the consumer goods industry, providing reimbursement for up to 80 percent of educational costs with a limit at $40,000.
- AT&T: This telecom giant provides employees with up to $5,250 annually for tuition assistance, for a maximum reimbursement of up to $25,000 for graduate school courses.
Comparing The U.S. News Full-Time and Online MBA Rankings
When it comes to business school rankings, U.S. News & World Report issues one of the most comprehensive annual lists. The annual rankings includes separate lists for the “Best Business Schools” and the “Best Online MBA Programs,” but deciding which format is right for you can still be tricky. Continue reading…
