As a working professional on the move, yearning for more responsibility in your job, greater career satisfaction and higher pay, you might decide to fast-track your ambition by pursuing an online MBA. You search and research and wonder at the word “accreditation” and its many mentions in advanced degree programs.
What does it all mean? Simply put, accreditation is a quality assurance program that colleges and universities undertake to ensure they meet recognized, strict learning standards.
Why Is Accreditation Important?
Accreditation offers a number of benefits for students pursuing advanced degrees. It:
- Creates a set of quality standards for all colleges and universities
- Maintains private-sector confidence
- Helps students transfer credits
- Ensures accountability of school and degree programs
- Enables students to gauge the quality of a degree
Be warned, however: Not all accreditation carries the same weight.
AACSB Accreditation Stands Out
Accreditation by the Association to Advance Collegiate Schools of Business is recognized as the gold standard of business education. That’s because AACSB evaluates business degree programs based on the highest standards in teaching, curriculum, student learning, institutional development and academic research.
The accreditation process is a serious commitment by the learning institution and can take more than two years.
First, business schools must develop a business plan to meet AACSB’s academic standards. Then they’re required to complete a self-evaluation, as well as an on-site evaluation by AACSB. Once accredited, the school is re-evaluated every five years. The process examines the big picture issues at a business school, such as resources, quality of faculty and programs.
According to a GMAC (2018) Alumni Perspectives Survey, as reported by Best Business Schools, only 5% of business schools worldwide are AACSB-accredited, and those account for more than 90% of ranked schools globally.
What this boils down to is that advanced degree programs like the online MBA – General Business track and the online MBA – Real Estate track from Longwood University are among the elite MBA programs in the United States.
What Does AACSB Accreditation Mean for You?
Jerrin Ching, an MBA candidate at an AACSB-accredited school, says he saw the benefits firsthand at the 2018 AACSB International Conference and Meeting held in Honolulu, Hawaii. The author of the Best Business Schools blog says the AACSB rating:
- Ensures the quality of business education is top notch.
- Ensures students get the opportunity to gain what they need to succeed in competitive environments.
- Increases the chances of landing a high-value, higher paying job. “Employers are more inclined to recruit students who they know have ultimately gained the necessary skills and knowledge needed to be productive and innovative in the workforce.”
Stephanie Colaco offers a couple of other positives in an article in Online Degree Reviews. Students can be assured of highly qualified professors and research professionals at an AACSB-accredited university because they must maintain standards demanded by the AACSB.
In addition, Colaco writes, business professionals must understand the global perspective. “Studying at online colleges with AACSB accreditation can help you achieve this goal. The course curriculum is created with the global student in mind and case studies as well as projects include examples from economies all over the globe.”
At Longwood University, prospective students can be assured a quality education they can finish in a reasonable time without breaking the bank. In-state tuition for the 31-credit-hour coursework required for either program is $12,276, and the online MBA programs can be completed in as few as 10 months.
Learn more about Longwood University’s online MBA programs.