Your long-term career prospects in the business world are enhanced by an MBA. This degree has been conferred for more than a century and holds currency with hiring managers worldwide. The Graduate Management Admission Council (GMAC) found 89% of corporate recruiters planned to hire MBAs in 2021 despite a global pandemic.
The enduring value of an MBA comes from mentoring opportunities, advanced lessons, and experience unavailable elsewhere. Suffolk University offered the first MBA online program in New England, setting the trend for using new technology to foster thought leadership. After the initial online education surge in the 1990s, Suffolk’s MBA online program has only grown in value because graduates fill today’s jobs and solve tomorrow’s problems.
Meeting Employer Needs with an MBA Online Program
An undergraduate degree in business lays the foundation for a successful career. Getting an MBA online further refines your natural abilities while building capacity for future challenges. Enrolling in an MBA online program at Suffolk University offers relevant and engaging coursework designed by industry experts. The convenience of flexible online learning empowers graduates for success from day one and from anywhere with an internet connection.
An MBA Online Program Confirms Employer Confidence
GMAC surveys recruiters each year about their views on business school graduates. The 2020 Corporate Recruiter Survey found 97% of respondents were confident or very confident in future graduate success. MBA online degrees have the power to open doors for future leaders worldwide, particularly in the evolving business world.
Recruiters from Fortune 100 companies were asked what skills became more important during the challenges of the COVID-19 pandemic. The five most popular responses included:
Adaptability to technological disruption (68%)
Strong communication skills (61%)
Versatility of skills (54%)
Strategic thinking (50%)
During challenging times, an MBA remains a valuable asset for any business professional. An established program like Suffolk’s Online MBA goes beyond technical skills on a job description by imparting leadership skills through real experiences.
Shaping Interpersonal Skills with an MBA Online Program
Exceptional interpersonal skills separate the good from the great in business leadership. The importance of “soft” skills is confirmed by LinkedIn’s list of the most in-demand skills for 2020. Top interpersonal skills expected of job applicants are:
Suffolk University’s MBA online program promotes skill-building in these areas through live workshops with esteemed professors, fellow peers and business leaders. MBA candidates collaborate to solve real-world problems and sharpen their interpersonal talents. They also learn how to practically apply these skills in their work with different audiences.
Using an MBA to Anticipate Future Trends and Challenges
MBA programs throughout the United States experienced an application boom in 2020. GMAC found a 39% year-to-year change in total applications to 1,085 responding universities. MBA applicants see a new business frontier in need of innovative leadership.
COVID-19 upended traditional business practices and supply chains, forcing leaders to re-evaluate their priorities. The Ewing Marion Kauffman Foundation asked business owners about their biggest challenges during COVID-19. Early-career and established entrepreneurs alike shared the following obstacles:
Finding new customers
Keeping current customers
Securing startup funds for new ventures
Acquiring finances for expansions
Changes in the marketplace always come along with growing pains. MBA online programs produce leaders who balance best practices with innovative thinking. A McKinsey & Co. report on the pandemic’s consequences offered a silver lining for businesses:
“In the past, it has taken a decade or longer for game-changing technologies to evolve from cool new things to productivity drivers. The COVID-19 crisis has sped up that transition in areas such as AI and digitization by several years.”
Preparing for the New World of Work
The pandemic has caused a paradigm shift that impacted how and what we are working on. The U.S. Small Business administration noted four business trends for 2021 and beyond. Suffolk’s MBA online program draws on real-world examples from Boston businesses across industries such as biotech, finance, retail, healthcare and technology to address relevant trends, including:
High prioritization on e-commerce
Growth in alternatives to traditional payment methods
Expanded opportunities for remote work and collaboration
Businesses reliant on virtual interactions are in highest demand
Suffolk University’s MBA Online Program uses non-traditional methods to prepare candidates for these opportunities. Leading companies in the Boston business community approach professors and MBA candidates for assistance with real-world problems. Students turn lessons learned in virtual courses into solutions that are effective and efficient.
Returns on Investment for an MBA Online Program
Committing to any MBA program can be stressful given the time, energy, and money involved. Prospective candidates ease their concerns by learning about the salary and employment prospects after graduation. MBA degrees remain important credentials in the business world because graduates are ready for immediate success.
MBA Graduates Receive Premium Salaries
GMAC calculated a median salary of $115,000 for new hires with MBAs in 2020. Salary offers ranged from $95,000 to $125,000, according to the recruiter survey. MBA graduates immediately benefit from their hard work with strong initial salaries.
The MBA salary premium is clear when comparing initial offers for different educational qualifications. GMAC found new hires with bachelor’s degrees saw median salaries of $65,000. Experienced staff without college degrees received an average offer of $95,000.
New consultants receive even higher salaries than their counterparts from the first day of work. The following median salaries published by GMAC show why consulting careers are popular among MBA graduates:
$145,000 for MBA graduates
$135,000 for experienced, promoted staff
$75,000 for undergraduates
Compensation packages for MBA graduates hired into corporate environments often includes a signing bonus. U.S. News & World Report found that the typical graduate receives a bonus of $15,887.
MBA Programs Increase Post-Graduate Employability
Graduates of MBA online programs view their salaries and bonuses as part of the returns on their investments. Finding the right next step in a graduate’s career is made easier with an MBA on the resume. U.S. News & World Report found 78% of MBA candidates were employed within three months of graduation. Graduates of Suffolk’s MBA Online program exceed the average, with over 90% of graduates gain employment within six months of graduation.
Get an MBA Online from Suffolk University
MBA programs - whether they are traditional or online - are not created equal. The best programs combine innovative teaching, industry connections, and history to educate generations of leaders. Suffolk University’s MBA Online program maintains a strong reputation for academic excellence by drawing on these assets.
The Boston-based university first opened its doors in 1906 as the Archer’s Evening Law School for migrants and non-white students. The Sawyer Business School was founded in 1936 and the first online courses were held in 1999. Suffolk University has continued to evolve through its deep connections with the Boston community and focus on what businesses need now.
An MBA Online Program Built for the Future of Business
Emerging business leaders are taught by Suffolk’s full-time faculty with academic and industry experience. The program also provides support through:
Dedicated Student Success Advisors
Around-the-clock IT support services
Virtual writing center and library
An alumni network of 80,000 graduates and counting
MBA courses engage students in workshops with business leaders on how to solve problems. Suffolk University offers concentrations in Accounting Principles, Business Intelligence, Finance, and Health Sector Management, so your studies are specialized and anticipate market demands. Classroom lessons are based as much on where the world is heading as where it has been.
An International Reputation Built for Future Challenges
Suffolk University fares well in annual university rankings because of its value and student diversity. U.S. News & World Report placed the university No. 60 in Best Value Schools for 2021. The university also received a No. 43 rank from Niche in its Most Diverse Colleges in America category.
MBA online program candidates around the world benefit from Suffolk’s connection to major Boston companies. Leading minds in academic and business train students to become consultants on day one. Suffolk University built a cutting-edge online MBA program long before its competitors, breaking down the walls between the classroom and the boardroom.
Enter the next stage of your business career armed with versatile, in-demand skills by pursuing the MBA Online from Suffolk University.