Going back to school to advance your education will improve your ability to achieve professional success. Advanced education not only helps learners develop employable, transferable skills but also transforms how they think, lead and make decisions.
For professionals in business and finance, developing expertise in leadership, critical thinking and data analysis can mean the difference between setting trends and following them. Understanding the economic forces behind business decisions allows you to take a more strategic, impactful approach in your career. Longwood University’s online Master of Business Administration (MBA) with track in Economics program teaches these essential business skills in a flexible format, minimizing the opportunity costs of pursuing a full-time education.
The Growing Demand for MBA Programs in Economics
MBA graduates are in high demand, particularly those specializing in economics. These professionals have skills and knowledge that exhibit clear value to employers looking for the best possible candidates for their teams. The U.S. Bureau of Labor Statistics (BLS) shows that individuals with advanced degrees often experience lower unemployment rates and have greater lifetime earnings. Plus, data from Robert Half indicates that 85% of finance and accounting managers face challenges finding skilled candidates in today’s hiring environment.
According to the 2024 Corporate Recruiters Survey from the Graduate Management Admissions Council (GMAC), new MBA graduates earn a median starting salary of $120,000, which is far higher than the median starting salary for those with a bachelor’s degree just under $70,000. Beyond higher starting salaries, the earning potential of MBA graduates continues to grow throughout their careers. With demand for skilled professionals in economics and finance steadily increasing, learners pursuing an MBA in economics are poised to graduate into a favorable job market.
Why an Online Economics MBA Degree Is a Smart Career Investment
Many choose not to go back to school because the thought of giving up their job (and income), being away from home and missing out on career advancement is too heavy a burden. As highlighted in an article from Money Under 30, it’s vital to consider a program’s true cost before deciding whether going back to school is the right move for you.
An online MBA program helps learners overcome that challenge without sacrificing educational quality. Online learning combines academic intensity with invaluable flexibility. While the coursework in Longwood University’s online MBA with track in Economics program is demanding, the ability to learn from your preferred location at your own pace makes an online MBA especially appealing to working professionals balancing career, family and personal commitments.
Unlike in-person programs, online learning lets you earn your degree while keeping your current job and balancing family responsibilities. This significantly reduces opportunity costs — the financial sacrifices of pursuing a degree such as lost wages, benefits and retirement contributions. To be available to study in person on campus, most students have to give up full-time work, leading to steep income losses in addition to the costs associated with tuition and living expenses.
Choosing a Degree Program That Matches Your Goals and Needs
Once you decide that pursuing an MBA is the next step in your educational and career journey, it’s time to research the programs available and decide which is the right choice for you. This is one of the most significant decisions you’ll make in your professional journey. The online MBA with track in Economics program from Longwood University offers an affordable, flexible, high-quality education with a curriculum carefully designed to meet the needs of working professionals.
The program is accredited by the Association to Advance Collegiate Schools of Business (AACSB), the highest standard of quality in business education worldwide. According to the AACSB website, only 6% of business schools achieve this recognition. AACSB accreditation is trusted by employers, with 96% of alumni from accredited schools employed and many in leadership roles. For example, 73% of Fortune 100 CEOs hold degrees from AACSB-accredited schools.
Whether potential students aim to advance in their current role, transition into a leadership position or shift into a new industry, this program is designed to help them achieve their goals. The online format eliminates the need to pause their careers or uproot their lives, offering a seamless way to integrate education into a daily routine.
Take the Next Step Toward Career Success With an MBA in Economics
Going back to school to pursue an MBA is a bold investment in your future. With a proven record of boosting earning potential and opening doors to high-demand roles, this educational pathway is an excellent choice for professionals who want to lead and succeed.
In the online MBA with track in Economics program from Longwood University, students learn the advanced skills, economic expertise and strategic mindset needed to thrive in today’s competitive business world. With this degree, students can take the next step toward achieving their career goals.
Learn more about Longwood University’s online Master of Business Administration with track in Economics program.
