As you research your next educational steps, it is important to keep in mind the return on investment for any degree. Your degree choice encompasses not only your career interests but years of hard work and tuition. Pursuing an Online MBA program helps you advance to new professional heights. Opting for a highly accredited online MBA like the one offered by Aston University (UK) opens new opportunities for working adults without commuting and sitting in classrooms.
There are several trends in the business world that can help you determine the value of an online MBA in Canada. You can use your future salary, your value in the workplace, and your potential to impact the corporate world to determine if you should get your MBA online. Aston University’s online MBA helps early-career managers reach greater heights with courses in global business and organizational development. You can receive a world-class MBA education from an esteemed university in the United Kingdom without leaving Canada when enrolling with Aston University.
Improve your salary
PayScale’s assessment of average salaries for MBA holders compared to other professionals provides a clear reason to get your MBA online. The typical business professional with an MBA in Canada earned $82,000 per year in 2019. Professionals with graduate degrees exceeded this average as project managers ($82,386), financial controllers ($82,767) and marketing directors ($102,230). By comparison, the average salary of an administrative assistant was $39,513 and an office manager earned $49,099.
Statistics Canada published a report in 2018 that pointed to the significant differences in salaries between undergraduate and graduate degree holders. Men and women with MBAs earned 28% and 27% more than bachelor’s degree holders in similar positions. This report also used the 2016 Census information to determine that 25% of college graduates aged 30 to 59 years old studied business. You can get ahead of the pack and keep more of your future earnings after completing an online MBA program.
Meet industry demand for your skills
The skills and experiences earned in an Online MBA program are in high demand by Canadian companies. PricewaterhouseCoopers published its 22nd PwC Global CEO Survey in 2019. This survey of Canadian CEOs revealed concerns about future revenues and skills gaps that can be remedied by experienced managers. Eighty-eight percent of respondents were concerned about slow growth or declines due to the lack of employees with critical skills. These responses represented a significant increase from the 51% of respondents who expressed this concern in 2018.
The survey found 40% of respondents were very confident about revenue growth in 2019 and beyond. In the 2018 survey, 58% of participating CEOs expressed confidence in growing revenues. Graduates of online MBA programs might bring new ideas, processes, and perspectives that can improve revenues for Canadian companies.
CEOs surveyed by PricewaterhouseCoopers were not without proposals to solve the woes of Canadian businesses. Forty-one percent of respondents said that connections between businesses and schools would fill the skills gap. The report determined that CEOs want their teams to disrupt industries using new techniques and ideas. Another conclusion is that CEOs want to transform the customer experience to find advantages over their competition. A major reason to get your MBA online from Aston University is to fill the gaps identified by Canada’s business leaders.
Innovate the customer service experience
As an experienced manager, you know that revenue projections and new products are nothing without good customer service. An online MBA in Canada imparts the lessons and skills necessary to develop new approaches to customer service. TTEC’s blog provided an overview of customer service trends in 2019 that leaders with MBAs can incorporate into their day-to-day operations.
TTEC identified omnichannel management as the top trend in customer service for 2019. Omnichannel management involves overseeing multiple forms of communication and fulfillment that meet customers where they are. Current business leaders also need to reckon with trends like voice assistants as proxies for customers and automation.
The trend that resonates most with MBA aspirants is the need for executives to lead changes in customer service trends. Companies that are passive about their customer service systems fall behind the competition and lose valued patrons. The best executives are innovation drivers who find the right personnel and tools to serve an ever-expanding customer base. The value of an online MBA from Aston University is your exposure to people and ideas that help you become an innovative leader. From the United Kingdom to Canada, this accredited program attracts future innovators with its forward-thinking curriculum.
Contribute to a balanced workforce
Canada’s workforce tends to be well-educated based on a 2019 report from Statista. Ninety-one percent of Canadians aged 25 to 34 years old held at least high school degrees. Of this group, at least 61% held at least undergraduate degrees. Your pursuit of an MBA program would place you among the best-educated professionals in a strong workforce.
Women who are looking to move from associate positions to executive suites need MBAs to surmount disparities. In 2018, Bloomberg reported that only 1 of the top 100 publicly traded companies on the Toronto Stock Exchange had a female CEO. The same report determined that 15 of the 100 companies had only one woman on their board of directors. Aspiring female executives should view online MBAs as fast tracks to boardrooms and corner offices in Canadian businesses.
Another reason to get your MBA online is a cutting-edge program like Aston University prepares graduates for inclusive workplaces. A Bersin by Deloitte report titled “Diversity and Inclusion in Canada” found 49% of surveyed companies were recent converts to inclusion programs that weren’t based on regulatory requirements. Canadian businesses need successive generations of managers and executives who look for talent among groups traditionally overlooked by the corporate world. Your pursuit of an online MBA can place you in the pipeline of progressive business leaders.
Join the wave of MBA applicants
By choosing an online MBA program, you can stay competitive with other professionals in Canada. The Graduate Management Admission Council’s Application Trends Survey Report 2018 showed positive trends among Canadian MBA programs. GMAC concluded that there was a 7.7% increase in Canadian MBA applications from 2017 to 2018. This increase was spurred by a 16.4% increase in international applications to Canadian programs over the same period. By comparison, there was a 0.04% growth in MBA applications among countries in the study.
GMAC determined that 62% of Canadian MBA programs saw increases, showing a broad distribution of interest in graduate degrees in business. Admissions officials from these programs reported that 90% of applications were equally or better qualified in 2018 compared to the previous year. In short, thousands of fellow applicants have answered yes to the question, “Are online MBAs worth it?”
With these statistics in mind, you can see the importance of an MBA program in advancing your career. Aston University offers an online MBA program in Canada that does not require completion of the GMAT. You can also bypass the undergraduate degree requirement if you have seven years or more of business experience. This distance degree option also connects graduates with more than 90,000 alumni around the world.