An MBA (Master of Business Administration) is a graduate degree designed for business professionals who aspire to strengthen their leadership skills and understanding of fundamental business principles. The online MBA allows professionals to engage in distance learning and upskill to meet the evolving needs of the modern workforce.
Is an MBA in the UK worth it? Earning an online MBA requires an investment of time and money that pays you back in the form of career mobility, greater lifetime earning potential, expansive global networking opportunities and job satisfaction.
If you’re asking yourself, “should I do an MBA?”, start by investigating the following queries:
- Why do an MBA?
- How much does an MBA cost?
- How long does it take to complete an MBA?
- How much can you earn with an MBA?
Learn more about the costs and advantages you should expect before enrolling in an online MBA in the UK.
Why Get an MBA?
Although many MBA graduates experience a pay increase immediately following graduation, the value of earning an MBA goes beyond salary and advantages professionals in various ways.
Upskill For The Modern Job Market
One of the immediate benefits of an online MBA in the UK is the ability to upskill for the modern job market. The UK offers the world’s largest financial centre, a flexible market and a flourishing entrepreneurial culture. The UK is a perfect location for professionals to learn practical business skills and explore their international potential.
Online MBA programmes in the UK focus on business theory, as well as practical courses, including:
- The Global Economic Environment
- Measuring and Enhancing Financial Performance
- Designing and Managing Operations, Systems & Processes
- Leading Complex Organisations
After obtaining a Bachelor of Accounting Science (BCompt) Degree, Debbie Rangousis endeavoured to become a financial consultant but felt ill-equipped due to the perceived knowledge gap. Debbie completed Aston University’s online MBA degree and gained exposure to marketing, operations, strategy, finance, economics and other core skills that allowed her to excel in a consulting position and add real value to a business.
This is an example of the function an MBA can serve in upskilling students’ expertise and fostering confidence to fulfil long-held career goals.
Explore New Industries
The online MBA is well-suited for professionals with a diversified employment history hoping to narrow their focus or pivot to a different industry. Many MBA graduates continue to work in the industry of their pre-MBA career, but others learn new concepts that draw them to different industries and use their MBA knowledge as a springboard.
Meredith Needles is a Canadian professional with a multifaceted resume. Meredith earned an Undergraduate Honours Bachelor of Arts Degree in Foreign Languages (Spanish, Italian and French) with a Post-Graduate in Teaching English Procedures and went on to work as a developer, a content writer and a recruiter in various countries.
Meredith earned an online MBA degree at Aston University to enter a leadership role with confidence. The MBA allowed her to excel in a new leadership position with relevant skills to manage teams and solve organisational challenges.
Accelerate Your Career Path
MBA graduates see financial returns for their hard work. The average salary for graduates from top schools is typically in the six figures. Monetary returns are welcomed, but the opportunity to accelerate your desired career path through an MBA is immeasurable.
Dr John Blakey is a thought leader, author and coach to CEOs. Dr Blakey completed his MBA degree with Aston University at the young age of 25. He worked in international markets, became a Director and was part of the management team at a large organisation.
His education didn’t stop there. Dr Blakey later pursued his DBA with Aston University and published a best-selling book, “The Trusted Executive” about how business leaders can improve results, relationships and reputation through building trust through challenging times.
This case study exemplifies the potential of MBA graduates. MBA graduates can dive deep into their industry and become trusted experts in their field.
Expand And Diversify Your Network
There is a hidden job market that can only be accessed through networking. An estimated 70 to 80 per cent of all jobs are never posted and at least 80 per cent of all jobs are filled through a professional network connection.
Top MBA programmes offer students access to networking events hosted by clubs and employers and an entryway to their school’s exclusive network of alumni and faculty. An online MBA in the UK is an opportunity to connect with thousands of like-minded business professionals from across the world and build your network to increase professional opportunities.
How Much Does An MBA Cost?
The cost of an MBA depends on numerous factors, including, duration of the programme, the school’s location and reputation, the courses selected and if you are a local or international student.
Sharleen Kikunze, a business professional based in Nairobi employed at a New York-based organisation, was researching the cost of an MBA. After comparing the “prohibitively expensive tuition fees” in the United States with other top international schools, she decidedly enrolled in an online MBA in the UK. Her cost-analysis found that UK courses are less than half the cost of traditional US courses.
An MBA in the United States costs upwards of $60,000 for a two-year programme and up to $100,000 or more at top business schools. How much does an MBA cost in the UK? Tuition for an online MBA in the UK can range anywhere from £5,000 to £60,000 per year.
It’s possible to earn an affordable online MBA in the UK without sacrificing quality or accreditation. Aston Business School’s full-time MBA costs £18,700 for UK, EU and international students and is triple-accredited by the AMBA, EQUIS and AACSB.
How Long Does It Take To Complete an Online MBA?
The duration of your online MBA degree depends on your decision to enrol in a part-time or full-time programme. On average, most online MBA degree programmes are expected to be completed in about two to three years.
Students enrolled in an online MBA are usually professionals working full-time and balancing numerous responsibilities, including their academic studies. Some schools offer multiple intakes per year, 100 per cent online classes and a flexible learning environment that allows students to finish their coursework in just two years.
How Much Can You Earn With an MBA?
According to the National Association of Colleges and Employers, the average starting salary for MBA graduates from the class of 2020 is $20,000 a year more than those with an undergraduate business degree.
Payscale’s research indicates that MBA graduates earn more than £19k on average than their BBA counterpart in the same job titles and qualify for more senior leadership positions. BBA graduates in the UK earn an average salary of £34,729 and MBA graduates in the UK earn an average salary of £53,787.
Experienced business professionals with an MBA degree can comfortably surpass the estimated £53,787 salary. Payscale reports popular UK companies hiring MBA graduates offer salaries exceeding £80k, including the following:
- J.P. Morgan Chase & Co. (£28k - £173k)
- Accenture (£51k - £139k)
- HSBC (£50k - £285k)
- Amazon.com Inc. (£57k - £80k)
- Deloitte (£41k - £88k)
Jobs and Career Advancement Opportunities
Does earning an online MBA lead to career advancement opportunities? Graduates from top MBA programmes boast employment rates after graduation that range from 87 to 98.9 per cent.
Despite the tumultuous job market influenced by the global pandemic, a recent corporate recruiter survey found that 89 per cent of firms expressed interest in hiring MBA graduates in 2021.
In the same survey, 90 per cent of respondents indicated they were “highly confident or confident about the ability of business schools to prepare students to be successful in their organisation.”
MBA graduates have an unmatched edge in the job market by offering in-demand business skills designed for the modern world. Recruiters and firms are eager to hire professionals who offer stability in times of disruption.
Why Study With Aston University?
Aston University is a triple-accredited school with an affordable MBA programme that produces thousands of successful alumni. Build your reputation with a school that has established itself internationally. Aston University is a globally distinguished university that is proudly recognised by numerous education authorities, including:
- Top 100 in the World for Business and Management Studies, QS World University Rankings 2021
- University of the Year, The Guardian 2020
- Outstanding Entrepreneurial University, Times Higher Education 2020
- Triple Accreditation, from EQUIS, AACSB and AMBA
- 30th Best University in the UK, The Guardian University Guide 2021
Start Your Online MBA at the Best University in the UK
Are you a driven and passionate professional willing to dedicate the time and effort required to earn an online MBA in the UK? Join an internationally recognised, triple-accredited school, learn high-demand career skills and expand your network by connecting with over 90,000 international alumni.
Are you ready to elevate your career? Take the next step and discover more about Aston University Online.