As business becomes increasingly globalized, more complicated and competitive, demand will continue growing for professionals with well-developed problem-solving, critical-thinking, leadership and organizational skills, as well as expertise in analytics and innovation.
Still, do the benefits of an education that enables students to acquire competencies in those disciplines, such as the Master of Business Administration (MBA) online program at Radford University, outweigh the cost and time involved to complete it?
The answer is yes. Projected demand for senior managers and executives with an MBA is growing considerably faster than the average job-growth rate, according to the U.S. Bureau of Labor Statistics (BLS), and median salaries for the positions range from the low- to mid-six figures.
Moreover, participation in an MBA program pays off with invaluable intangible benefits, including automatic inclusion in a network of classmates, educators and alumni across all industries and positions in finance, human resources, marketing and data science.
Do the benefits of an MBA outweigh the costs of obtaining it? MBA graduates from around the country explained in a Poets & Quants article that the degree was highly valuable, ensuring a network to support career growth for many years to come.
What Is the Job Market Like for MBA Graduates?
Graduates of Radford University’s online curriculum — which U.S. News & World Report ranks among the nation’s best online MBA programs — are well prepared for roles that require understanding of critical facets of business finance, human resources management, business development and analytics that improve efficiency and reduce costs in operations and production.
According to the U.S. Bureau of Labor Statistics Occupational Outlook Handbook (BLS), business professionals equipped with that knowledge and expertise — whether they are entering the job market or pursuing career advancement — are in high demand for senior positions such as:
- Marketing managers plan, direct and coordinate policies that assess demand for products and services, develop pricing strategies to increase revenue and market share and monitor market trends for new opportunities. (BLS median salary is $141,490; job growth is + 31,800 positions through 2030)
- Financial managers create financial analyses and reports, direct investment activities and develop plans for long-term financial goals. (BLS $134,180; + 118,200 jobs)
- Medical and health services managers, healthcare directors and administrators plan, direct and coordinate medical care at facilities, clinical departments and practices. (BLS $104,280; +139,000 jobs)
- Human resources managers plan, implement and coordinate administrative functions, including recruiting, interviewing and hiring, as well as develop personnel policies that support corporate strategy and governance. (BLS $121,000; +14,800 jobs)
- Training and development managers oversee training programs, staff and budgets for in-person, video, self-guided and digital instruction that develops and strengthens staff competencies and understanding of corporate and regulatory policies. (BLS $115,640; +4,500 jobs)
The Radford University online Master of Business Administration (MBA) program, accredited by The Association to Advance Collegiate Schools of Business, enables participants to acquire a broad-based, cross-functional education in core business areas such as operations management, marketing, accounting, finance and strategic management.
Students in Radford University’s MBA program participate in coursework that is identical to the on-campus studies. Upon graduation, they are ready for management positions that require leadership, analytical and problem-solving skills that can serve them throughout their career.