Table of Contents
- Who Can Benefit From an Online Business Degree?
- Benefits of Pursuing an Online Business Degree
- It offers flexibility
- Fixed fees are generally lower
- There is a closer interaction with the professors
- There are fewer distractions
- You can follow your own pace
- You can work while putting into practice what you’re learning
- It helps with professional advancement
- It increases earning potential
- It is inclusive
- The Bottom Line
Business is an excellent field of study as it can put you on the path to various profitable careers. By pursuing a business degree, you develop the skills that make you a valuable asset to any corporation. However, studying business, or any other field for that matter, can be challenging for various reasons—one of these might be your availability to attend university. There is a simple solution to such a problem: pursuing an online business degree instead of a traditional in-person one.
Online learning is by no means a new approach. However, since the pandemic and the lockdown, there has been a general rethinking of higher-education provision. The global e-learning market is expected to reach $336.98 billion by 2026, with an annual growth rate of 9.1% from 2018 to 2026. There are several reasons for this increase, many of which are related to the benefits students experience when pursuing an online business degree. So, read on and learn more about the perks of studying business from the comfort of your home.
Who Can Benefit From an Online Business Degree?
Online degree programs are specifically designed with flexibility, availability, and affordability in mind. People with full-time jobs, families to look after, or other responsibilities can benefit from an online business degree. Furthermore, online degrees are an excellent option for people looking to advance in their careers or those interested in trying something new. If you are such a person or simply someone who prefers e-learning, then an online degree might be the right option for you.
To help you decide whether you want to pursue an online business degree or not, read on and learn more about what an online business degree can do for you.
Benefits of Pursuing an Online Business Degree
Not only will an online business degree help you grow professionally, but it will also make the overall process much more comfortable and enjoyable for you. And, of course, it’ll hurt your pockets less while ultimately helping you earn more.
Below we go through nine benefits of pursuing an online business degree that might help you decide whether you want to follow this path.
It offers flexibility
A significant reason behind students’ decision to pursue a business degree online is the flexibility associated with such an enrollment option. From more adaptable class schedules to the convenience of following classes from anywhere in the world, online degree programs are much more accommodating and accessible for students.
Results from a survey on why students choose online programs instead of traditional campus-based programs showed that the number one reason was the convenience and flexibility of such programs. According to the students, an online degree program allows them to balance their personal life and education. Generally, an online program provides more room for students to deal with their other day-to-day responsibilities on top of their studies.
Herefore, suppose you already have a full-time job, have to take care of children or some other family member, or generally have things that require a significant portion of your time and energy daily. In that case, it will benefit you to have more control over your schedule.
Fixed fees are generally lower
Like in many other fields of study, business degree seekers must also deal with several costs, including tuition and other fees. However, your expenses will generally be much lower if you pursue a business degree online instead of taking the traditional route and going to campus and class in person.
Your expenses will range greatly depending on what school you attend. According to research, the current average university tuition and fees are estimated to be around:
- $25,707 per year or $102,828 over four years at a public 4-year-in-state university
- $43,421 per year or $173,684 over four years for out-of-state students
- $54,501 per year or $218,004 over four years at private, non-profit universities
You can cut down on a portion of these expenses with online coursework. According to a report on the cost of online education, pursuing an online degree for four years is $36,595 cheaper than an in-person one. Firstly, tuition tends to be lower for online degree programs. The average per credit hour in US universities varies greatly from in-person to online instruction:
- $491.20 per credit hour for in-person instruction in public schools
- $320.80 per credit hour for online instruction in public schools
- $2,162.93 per credit hour for in-person instruction in private schools
- $504.90 per credit hour for online instruction in private schools
In addition, because you follow your classes online, you will not be paying for on-campus amenities, maintenance, meals, or housing options. Furthermore, you will decrease costs associated with commuting, such as gas, parking, or tickets for public transportation.
There is a closer interaction with the professors
Although you do not have in-person contact with your professors when pursuing an online business degree, that does not mean that you will interact with them any less than you typically would with a traditional program. Firstly, you can communicate with your professors during online lectures held through virtual meetings. You can pose questions and leave comments in the chat section or discuss them aloud with the class.
In addition, you can connect with your instructors, management team, and other students at all times through emails or the school’s chosen education portal. Communicating in such a way is significantly more reliable and convenient since you can have more thorough and continuous interactions about the course or assignments at any time, rather than communicating only face-to-face in real time.
There are fewer distractions
Another benefit of pursuing your business degree online is having more control over the environment. Therefore, you also have fewer distractions. You can follow lectures from the comfort of your bedroom, the living room, a quiet cafe, the garden, or anywhere else where you feel most comfortable and productive.
Such a factor is crucial for students with Attention Deficit Hyperactivity Disorder (ADHD). It can be difficult for students with ADHD to focus when confined to a classroom where they must follow specific rules, schedules, and behaviors. Providing students with more control over their learning environment can help eliminate some typical distractions, such as noises, students watching Netflix, eating, smells, and other things. This way, they can focus better and have an effective learning session.
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You can follow your own pace
With flexibility also comes the autonomy for students to learn at their own pace. Managing students that learn at different paces and therefore are on different levels within the course has long since been a discussion in classroom teaching and learning methodology. Well, with online learning, that will not be an issue for the professors or you. You will not have to stress about following other students’ pace. Instead, you can read the learning material and study anywhere, at any time and day of the week. You might be generally busier during the first few days of the week but have more time to go over your studies during the weekend. You can do whatever works best for you.
Generally, the only limitations you must adhere to are exam dates, projects, and other assignment deadlines. Aside from that, you can follow your own pace.
You can work while putting into practice what you’re learning
We already discussed how students usually pursue online degrees alongside other projects. Therefore, it is normal for you to have already begun your business career and have a job while finishing your online studies. You do not have to choose one or the other. Instead, you combine the two and use the skills gained from one to help you succeed in the other. For example, with an online degree program, you can continuously put into practice the theory learned and watch yourself grow professionally.
You might discuss project management in one of your classes and then take everything you have learned to the next project you work on. Or, use your economic and finance classes to gain a deeper understanding of each transaction made within your organization.
It helps with professional advancement
Once you start working, you might feel reluctant to return to school. Some people choose to advance in their careers by gaining more work experience. However, an effective way to ensure you grow professionally is to keep updating your knowledge and skills through education, whether it be an associate’s degree, bachelor’s degree, master’s degree, doctorate, or through certification programs.
Therefore, an online business degree program can help you grow professionally and show your employers that you are ready and willing to put in the time and effort needed to conquer the business world. Furthermore, pursuing a degree can also be beneficial if you start your own business. A degree can help strengthen your business’ credibility and help you attract investors or partners looking to work with someone knowledgeable and skilled.
It increases earning potential
Another area within your occupation that you can improve with an online business degree is earning potential. By using online classes to upskill, you also increase your chances of being promoted, securing a specific position you were seeking, and generally earning more.
It is a known fact that with a college degree, you immediately have more advantages within the workforce in terms of salary qualifications. Generally, stats show that an employee with a bachelor’s degree earns an average of $1,248 a week or about $64,896 a year. On the other hand, employees with a master’s degree can earn $13,000 more per year. Doctoral degree holders earn an additional $20,000 on top of all the above earnings.
Of course, it is worth mentioning that the exact numbers depend on the industry, position you occupy, and initial salary. However, you can count on earning more once you have completed your online degree.
It is inclusive
Last but certainly not least, pursuing a business degree online is beneficial because of its inclusivity. Online degree programs are a more accessible alternative for people who face social, physical, geographical, and economic barriers when it comes to their studies.
Firstly, online education is more inclusive towards students with various disabilities. Online classes offer students the convenience that comes with being educated without having to travel, burden themselves with potential issues that might arise in the middle of the classroom, or deal with the unavailability of facilities for their needs. Instead, it presents them with opportunities to approach their studies at their own pace and preferred environment.
Secondly, it is a much more affordable option for students. It is especially advantageous for students living outside the country, as it does not require them to travel to campus. Instead, the program is available for anyone willing to learn and grow, bringing together people of different cultures and backgrounds.
The Bottom Line
Pursuing an online business degree can be the best decision you make for your future. You can learn and grow within the business field just like you would with any traditional university program. But do it all while having more control over your learning process and environment.
Balance your life and studies with an online degree that provides you with a university experience that is as good as, if not better, than the traditional one.