The benefits of studying an MBA are well known: in Australia, MBA graduates see, on average, a salary increase of 28% to reach $157,000 within 3 years of completion.
Even better, you don’t have to quit your job to study an MBA, thanks to flexible study options through Swinburne Online. Swinburne’s MBA has a Tier-1 rating, and is one of the Top Online MBAs in CEO Magazine’s Global Rankings .
In this article, we’ll show you how to gain an industry-recognised qualification, while fitting your study in around your work and family commitments.
What is an MBA?
So, what does an MBA do, and what does an MBA qualify you for? In a nutshell, an MBA is an advanced business degree that equips those who want to pursue high-level business positions with the knowledge and skills needed to succeed.
Swinburne’s Online MBA course provides you with specialised skills to thrive in your industry and achieve your career goals. You’ll learn how to make crucial business decisions with confidence and lead your teams to greater levels of success. Plus, you’ll have a good chance of scaling up your earning potential as well.
What will I learn in an MBA?
The Online MBA at Swinburne allows you to specialise in one of three areas: Business, Project Management and Cybersecurity Management. The MBA benefits of this approach are that you gain knowledge and skills that are closely aligned with your interests and career goals.
Let’s take a closer look at the study streams Swinburne offers in its Online MBA:
- Business: This stream gives you access to the largest number of elective subjects while providing a foundational understanding of the key pillars of business. If you wish to broaden your business knowledge and become a valuable strategic thinker who can motivate multidisciplinary teams, the business stream is for you.
- Project Management: In this stream, you’ll learn how to coordinate diverse teams and lead your teams to achieve core commercial objectives, regardless of the project size.
- Cybersecurity Management: One of the key advantages of MBA study in this stream is that you get to take your passion for IT to the next level. This stream is ideal for those working in IT who want to upskill in the crucial area of cybersecurity.
Regardless of which stream you choose, an MBA will expand your career prospects and provide a strong foundation in business management principles. It’s one of the best ways to give yourself an edge in the corporate world.
What are the benefits of studying an MBA?
So, does an MBA help your career? The easiest answer to this one is: it certainly can’t hurt. By putting in the time and effort to complete an MBA, you’ll already be showing future employers that you’re intelligent, hard-working and driven. Most MBA students also find the experience to be inspiring, because they’re surrounded by a diverse group of people who are all striving for excellence.
For those considering an MBA, benefits can include:
- Better leadership skills: An MBA can help you become an even better leader, by challenging you to address any leadership weaknesses you might have, and presenting opportunities to overcome challenges and grow as a person.
- Approach problems from new angles: Studying an MBA will enhance your perspective, and help you rethink leadership and strategy. It will push you to think from a wide range of perspectives, making you better equipped to make good decisions and lead a team to success.
- A global perspective: Within your studies, you’ll be asked to reflect upon the broader economy, and the global impact of how we work and live. For anyone wondering ‘why do an MBA?’, it will give you a global outlook, which is invaluable for those hoping to succeed in business.
- Diverse connections: This is often the number one reason why people choose to study an MBA. Through group work, MBA students learn how to work together to achieve results, while putting you in contact with trailblazing professionals across a wide range of industries.
- Life transformation: A known benefit of an MBA is that it improves confidence and helps people to aim for bigger and brighter things in their lives. Not only does it have valuable applications within the corporate world, but it can also help you to lead a more fulfilling life as an individual.
- Improved salary potential: Last but not least, an MBA can increase your chances of earning a higher salary. This often has as much to do with the fact that studying an MBA can help you feel more confident and inspired, as it does the piece of paper you receive at the end.
Who should study for an MBA?
The MBA is suited to professionals who want to learn new things, meet interesting people and supercharge their careers. It’s particularly suitable for:
- Business professionals seeking higher managerial roles
- Career changers
- Networking enthusiasts
- People who love learning and challenges
If you’re asking yourself ‘should I do an MBA?’, think about what you ultimately want to achieve. You might feel like you’ve reached a point in your career where you’re feeling a bit uninspired or stuck. Perhaps you’d like to move up within your industry, but you need to pick up more skills and experience before you can progress. The MBA is also recommended to people who have plans to start their own business venture.
One of the best things about the MBA is it attracts people from a range of industries, from all sorts of different places in life. There are no ‘right’ or ‘wrong’ sorts of people for this type of study – what matters most is your dedication and willingness to learn.
Do you need a degree to do an MBA?
One of the most common questions our course advisors receive is ‘do I need a degree to do an MBA?’. While yes, a bachelor’s degree is generally the requirement for studying a Master’s, in certain circumstances, Swinburne Online offers pathways to those who don’t have a degree.
To gain entry into the Master of Business Administration (MBA) at Swinburne Online, applicants must have at least one of the following:
- A recognised bachelor’s degree in a related discipline
- A recognised bachelor’s degree in any discipline plus a minimum of two years equivalent full-time relevant experience
- A recognised graduate certificate in a related discipline.*
* Related graduate certificates include Swinburne Online’s Graduate Certificate of Business Administration, Graduate Certificate of Project Management, Graduate Certificate of Cybersecurity and Graduate Certificate of Management. You may be exempt from some units if you have already completed them in your graduate certificate.
How long does an MBA take?
The length of time it takes to complete an MBA will depend on your mode of study. Because many of the people who choose this course are already professionally employed, we offer flexible study options so you can complete your MBA online, at your own pace.
How long is a full-time MBA?
If you choose to study full time, it’s possible to complete an MBA at Swinburne within two years (however, this can vary depending on a number of factors).
Students with a previous relevant qualification from a recognised institution and/or relevant work experience may be eligible for exemptions from some of the foundation units or core units. Please refer to the course entry requirements for more information.
For those wondering ‘can I do a full time MBA while working?’, the answer is it’s possible, but you’ll probably need to switch to part time employment while you’re studying. The MBA is a big commitment not just in terms of the amount of time it takes, but also the mental focus it requires. To get the most out of your study experience, you’ll need to set yourself up for success by making sure you’ve got enough resources and mental energy.
Can you study an MBA part-time?
Yes, since many of our prospective students are looking to complete their MBA programs while working full time, it’s possible to study part time. The main advantage of a part time vs full time MBA is the ability to continue working, but many people also choose this study mode because they want to make time for their families and personal lives as well. Part time study can alleviate the time pressures of a full time MBA, giving you the chance to relax, make meaningful connections with other students, and savour the experience of learning.
How long is a part-time MBA? The time it will take you to complete your MBA part time depends on whether you have any relevant qualifications or work experience. It also depends on how quickly you progress through the course – some people might choose to study one unit at a time, while others might need to take time off during their course for personal reasons.
To get an idea of how long it might take to complete your MBA at Swinburne Online, please get in touch with our Course Consultants.
How many hours a week is an MBA?
The amount of time you’ll need to spend on your MBA each week will depend on how many units you’re studying. As a general rule, for postgraduate business students, we recommend allowing around 12 hours each week of study per unit.
Can you complete an MBA while working full-time?
Yes, it’s possible to complete your online MBA while working full time. Swinburne Online enables you to study anywhere, anytime, so you can fit your study in around your work and personal commitments.
To accommodate students who are working full time, our award-winning MBA program can be completed in three phases. This means you can start with bite-sized pieces of the MBA, with the option to continue or exit at the end of each phase. The completion of each phase gives you the opportunity to graduate with a postgraduate business qualification.
- Phase One: Get a taste for the MBA by taking four core units. If you want to exit the degree here, you’ll graduate with a Graduate Certificate of Business Administration.
- Phase Two: Take another four core units and you’ll have enough credit points to earn a Graduate Diploma of Business Administration.
- Phase Three: Now, take your pick from three specialist streams and take four more units to receive the prestigious Master’s qualification.
Why do an MBA online? Dale’s story
Swinburne student Dale chose to complete his MBA online while working as a National Sales Manager at a sales and marketing company. Dale wanted to give his career a boost, so he chose online study so he could upskill while continuing to grow his clients’ brands.
As Dale explains, “I’ve found that it’s really easy to take some of the coursework and apply it straight to what I’m currently working on at the moment.”
“I would say to someone that’s considering studying an MBA online that it’s a great choice. It’s a really convenient way to manage your studies and your work, and your personal life all in one.”
If you think a Master of Business Administration with Swinburne Online might be the next step in achieving your career goals, get in touch with our friendly Course Consultants to chat about your options, or apply online today.