Pursuing a “One-Year” Online MBA
The past several years have seen a dramatic shift in the design and structure of MBA programs nationwide. As the debate regarding whether or not the credential is worth pursuing in the current economy continues, schools are beginning to create new approaches to their programs to make them invaluable to aspiring professionals. Individuals from all branches of the business world can profit from the fundamental courses offered in any MBA program. The cost of a traditional MBA, especially with mounting student loan debt, when combined with the time it takes to earn the degree and see a return on such a significant investment, often creates a substantial barrier to entry.
The question remains, then, how these programs can remain relevant in the near future, especially given the advent of online education and other innovative modes of learning material delivery?
One such adaptation, the creation of the “one-year MBA” – a version of the fundamental coursework presented in traditional MBA programs that can be completed in one year (as opposed to the traditional two) – has garnered a great deal of attention as a rising option in the field. The structure has proven phenomenally successful, both in providing an effective overview of essential business skills and an attractive, practical option for students.
Prominence of the One-Year MBA
Even some of the most recognized MBA programs in the country have seen declines in traditional MBA applicants of up to 7%. Many of those same schools, however, have adopted new, one-year MBA programs that seem to be running counter the trend, with some top-ranked programs seeing as much as a 24% increase in applications to the course of study since 2009.
Class sizes for these programs are increasing incredibly quickly, with more and more students seeing the one year alternative as a perfect, practical access point to the expanded career opportunities and high return on investment that an MBA offers. Students have taken to the idea of quickly realigning their skills to match advanced career goals with a one-year MBA, and schools have certainly taken notice.
Reasons to Pursue a One-Year Online MBA
Some schools, like Lynn University, have taken the same principle and applied it to their online course offerings. There are a number of reasons why a one-year online MBA presents an incredibly convenient way to earn a professional credential still integral to career expansion in many industries.
- Flexibility: A one-year online MBA makes it possible to pursue an advanced degree from the comfort of your own home, and with a schedule that suits your life.
- Accelerated Pace: Since the program can be completed in one year, it means even less time before you can start enjoying the benefits of a new credential and exploring new career opportunities.
- Work Full-time: Without the need to commute to campus or attend classes at a scheduled time, students can create a schedule that allows them to account for both their personal and professional life, maintaining their current job.
- Tuition Savings: While online education is sometimes a more affordable alternative to on-campus, students who pursue a one-year MBA online can benefit from even further reduced tuition over traditional programs.
Lynn University Online MBA
Lynn University is one of the schools at the vanguard of this new structure, offering a one-year online MBA that can be completed entirely off-campus at an affordable tuition rate.