Think Before Study
Let’s face it...studying an MBA is expensive as most business schools are increasing their fees every year. Innumerable students are ending up with a huge student debt which they will have to payback till their retirement. Is that the future you want for yourself? I guess not. Hence it is important that you consider the cost, value and payoff of your MBA degree before you get enrolled in your desired B-school.
Victor Saad, founder of Experience Institute said, “An MBA is helpful if you’re going into a field that absolutely requires it or you’re attending a top-five school. Otherwise, you need to find new, creative, refreshing ways to differentiate yourself and learn the adaptability necessary to thrive in today’s ever-changing marketplace. Paying to be handheld through an 18-month program just doesn’t cut it any longer.”
What You Will Pay For Your MBA
According to a study by the New York Federal Reserve Bank, the total outstanding student debt in US is almost $1.2 trillion; and more than 16 per cent of the debt amount belongs to graduates over 50 years of age. As a result of this most graduates have ended up with crippling debts which in turn affects their net worth. So is your MBA degree truly valuable? If you ask me, the answer is no.
Although you will get high paying jobs thanks to your MBA degree, but the fact is your debt will eat away most of your profits. It can negatively impact your career, funds, retirement and your life, irrespective of your age. As a result of this your net worth will suffer. Hence you will end up taking more time to accumulate wealth, like purchasing a car or a house, when compared to debt-free graduates. Is that a price you are willing to pay for your MBA? Guess not!
What Is The Answer Then?
It is best to smartly avoid student debts and make the most out of your earnings by improving your net worth. But how can you do that? How can you become a debt-free graduate? The answer is simple. Considering factors like your student debt, value of your MBA and your net worth, you should go for a management programme online.
Pursuing a diploma in business management online will ensure that you remain debt-free throughout your career and your life. These online MBA programmes are not only highly affordable, but online B-schools also offer various financial aids for the learners. Online education empowers you to break away from the shackles of debt and build your career the way you want.
Great Value, Excellent Payoffs
Unlike the previous days, nowadays most accredited online business diploma programmes offer you quality education that is equivalent to traditional business schools. Most of these programmes have been developed by reputed professors from different parts of the world to provide you a better understanding of the global market scenario.
Moreover, by studying a diploma in business management online you will be able to work full time and gain significant work experience. This will not only enable you to earn money and support your family while you study, but it will also increase your employability. With more and more employers accepting online business diplomas, you will be able to start your career immediately after your graduation and boost your career.
Ashley Aspiranti, Lead Curator of NextSpace Coworking, believes an MBA is “helpful only if it is required for what you are trying to do. Otherwise, experience is king in this Internet-obsessed world. Internships (even the unpaid ones) provide a toolbox of experiences that simply a framed (post-bachelor’s) certificate, or MBA, just can’t quite match.”
Do you think a traditional MBA makes sense even after considering your debt and payoffs? How do you think online MBA can help you? Feel free to share your views and opinions below in the comments section.