The world is changing rapidly, and keeping up with the job market’s demand is often challenging. Most high-paying jobs in business require advanced degrees as proof of the applicant’s mastery and dedication to the field.

Master of Business Administration degree holders get median annual salaries within the range of $115,000 per year in 2022. This amount is double what bachelor’s degree graduates in business administration earned.

Master of Business Administration degrees are great training grounds to help you develop the necessary skills and knowledge to succeed in employment in the business industry. Yes, much of the knowledge you’ll need will come from actual work experience. For this reason, most business graduate programs require applicants to have at least a few years of professional experience.

Maybe accounting is where you wish to concentrate your study. You can do that by earning an MBA with a focus on accounting. Perhaps you’d prefer to focus on how business can be used in a healthcare setting. Students who want to learn the ropes of business development should major in Strategy.

At a Glance

With a strategy MBA degree, you’ll be able to approach the intricate business world like a game of chess. You’ll be able to organize an enterprise’s various moving parts. You will look for and seize possibilities for growth, devise clever business strategies, and employ your insights to support the success of your organization in the vast global business market.

Working professionals should consider getting an online MBA in strategic management. The advantages of obtaining an online education are endless. You can modify your course schedule to fit your other obligations. Additionally, online MBA students frequently pay less than on-campus students.

All About Affordable Online Strategy MBA Programs

The price of attending college keeps going up. There are several benefits to thinking about an affordable online MBA program in Accounting. You won’t need to worry about paying for expenses like food or lodging. Even the tuition for most online MBA programs is typically much less per credit hour than students pay on campus.

Others, however, think online degrees provide a lower quality of education than those earned on campus. An online MBA program is just as comprehensive as a traditional on-campus degree. This degree often entails better education, thanks to recorded lectures students can replay anytime.

Employers and colleges recognize accredited online programs in the same way as their on-campus counterparts. Most of the time, glancing at your diploma or transcript won’t even reveal the difference!

Do you desire to develop sound decision-making abilities? Consider the best online MBA programs in Strategy from the best business schools in the nation! We’ve rounded up the cheapest online MBA programs in Strategy for you.

The 15 Cheapest Online MBA in Strategy Programs

Davenport University

Grand Rapids, Michigan

Tuition per credit for online MBA program: $959
Units Required: 39 credits
Program Length: 2 Years
Financial Assistance Options:

Davenport University offers an affordable online Master of Business Administration program in Strategic Management tailored to help students learn about developing business strategies. Online MBA students will have a curriculum approved by the IACBE – International Accreditation Council for Business Education, facilitated by the same industry-experience on-campus faculty. This online MBA in strategy helps students obtain advanced knowledge of and expertise in managing strategic processes while integrating the crucial leadership techniques required for individual and business growth and development.

The MBA in strategic management aims to give students all the necessary information to create a unique business strategy for each company. But before proceeding to concentration courses, online students must complete core courses in accounting, finance, economics, marketing, and management.

After completing core courses, students will proceed with their strategic management concentration courses by choosing six of the following:

Certified Project Manager Professional; or Managing Human Resources
Certified Manager (CM) Examination
Sustainable Business Strategies
Operations & Supply Chain Mgt
Organizational Design/Develop
Leading Transformational Change
Global Business Strategies

In addition to online courses, students must complete the Business Integration Capstone. This completion requirement tests a student’s gained knowledge of the degree and specialization through a culmination of summative and integrative experience. The learner utilizes their understanding of business principles and practices as they analyze situations, devise suitable solutions, and decide how to proceed in an interactive business simulation.

Brenau University

Gainesville, Georgia

Average Cost: $15,600
Tuition per credit for online MBA program: $785
Units Required: 45 (credits up to 50% of undergraduate coursework)
Program Length: 20 months
Financial Assistance Options:

Brenau University’s Accreditation Council for Business Schools and Programs-accredited online MBA program offers several concentrations, including Strategic Thinking and Innovation. This online MBA concentration is facilitated by a faculty of experts with years of practical experience managing marketing campaigns, running businesses, and more.

Online students will undergo a rigorous curriculum to help them develop skills and learn about handling complex workplace issues. Graduates will be able to learn how to take the necessary actions to improve proactive critical thinking and inventive decision-making.

Classes are supplied entirely online to assist you in finding employment. As part of your online MBA in strategic thinking and innovation, you will take in-depth courses that will familiarize you with crucial business management strategies. Core courses consist of:

Budgeting for Managers
Foundations of Business Analytics
Intro to Business Communications
Strategic Management and Policy

In addition to having a distinguished faculty, online students will receive full support from the school through various online resources. Online students get access to a committed group of coaches and administrative personnel and provide knowledgeable advice from the very first day of the program. Furthermore, students with business education at other invitations can transfer up to 50% of their credit hours.

Liberty University

Lynchburg, Virginia

Tuition per credit for online MBA program: $565
Units Required: 45
Program Length: 2 years
Financial Assistance Options:

One of the most popular online schools offering business education in the nation is Liberty University, which has received its accreditation from the AACSB – Accreditation Council for Business Schools and Programs. The online MBA in Strategic Management at Liberty University is designed to help busy working professionals prepare for cutthroat markets that demand productivity and resource management.

Online MBA students will obtain knowledge that’ll allow them to analyze operations effectively, develop a plan, and effectively communicate that strategy to everyone in your organization.

Concentration courses allow students to develop proficiency in effective strategic management encompassing all aspects of organizational design, workforce management, and product marketing. Courses will provide students with the tools they need to set objectives, assess the current operations, and create a winning plan that will bear fruit. Concentration courses include:

Strategic Marketing Management
BUSI 570 – Ethical Leadership
Organizational Design and Structure
Workplace Planning and Employment

Liberty University also gives students a solid understanding of dealing with ethical problems that many business professionals encounter. Liberty teaches the business administration program from a Christian worldview, which allows students to see how biblical ethics apply to business leaders.

University of Texas at Dallas

Richardson, Texas

Average Cost: $58,024
Units Required: 53
Program Length:21 months
Financial Assistance Options:
- Federal Aid

The University of Texas at Dallas offers one of the most affordable online programs for working professionals in the industry looking to develop strategic business skills. The online MBA in Strategic Management concentration equips students with the necessary knowledge to implement strategic designs, strategic ramifications, organization structuring, top management team leadership, and strategic partnerships.

The MBA curriculum is accredited by the AACSB – Association to Advance Collegiate Schools of Business.

Prospective students of the program can choose how many classes to attend each semester. Virtual professional development and information sessions are additional tools to support students in an online context. Furthermore, students must follow the school’s course sequencing of foundational, core, concentration, and electives courses. Strategic management students should complete core courses and proceed to study the following concentration courses:

Strategic Management
Strategy Implementation
Strategic Leadership
Business Strategies for Sustainability
Special Topics in Business Policy and Strategy
Advanced Strategic Management Seminar I and II

In addition to choosing a concentration, online MBA students at UTD can also enroll in certification programs to boost their resumes. UTD’s business school certifications are university-based programs and satisfy the standards of academic accreditation organizations. And since this is a distance learning program, anyone with a reliable internet connection can access coursework worldwide.

University of North Texas

Denton, Texas

Average Cost: $23,900
Units Required:36
Program Length: 14 months
Financial Assistance Options:

The University of North Texas – College of Business offers a cheap, fully online MBA program with a concentration in Strategic Management accredited by the AACSB – Association to Advance Collegiate Schools of Business. This MBA concentration focuses on building students’ knowledge of strategies and overarching policies that contribute significantly to business development. This online MBA concentration will give professionals and newbies a chance to develop advanced strategic management skills from a more comprehensive viewpoint for high-paying careers.

UNT’s online MBA in strategic management is one of the most customizable degree programs. Upon completion of core courses, online students will study Strategic Management. Students will choose two of the three supporting courses:

Entrepreneurship and Venture Management
Managing Organizational Design and Change
International Management

To complete the strategic management concentration, students will also choose one of the four electives:

Human Resource Management Seminar
Employment Placement and Personnel
Leadership Research and Development
Seminar on Compensation and Motivation

This online MBA program’s advantage is that students can apply and start their courses at any point during the academic year. Students must adhere to no set order, making the coursework practical and adaptable. Classes are offered at your convenience. Every step of the way, you’ll have access to dedicated academic and professional support.

University of Delaware

Newark, Delaware

Average Cost: $41,800
Tuition per credit for online MBA program:$950
Units Required: 44
Program Length: 16 months
Financial Assistance Options:
- Scholarship
- Grants

The University of Delaware’s AACSB-accredited online MBA program was designed to help working professionals pursue business school at a low cost. The Strategic Leadership MBA online program concentration at UD combines the appropriate management and training areas to provide future executives with the knowledge they need to make the best choices for company advancements. The curriculum integrates the practical components with the application of newly acquired knowledge and training to real-world situations.

UD’s online MBA in strategic leadership is one of the most customizable degree options. Students will choose their own concentration and elective courses.

Online students will choose one of two courses:

Strategic Leadership & Change
Advanced Topics in Leadership and Teams

Two of the four courses:

Strategic Leadership & Change
Advanced Topics in Leadership and Teams
Positive Leadership Theory and Practice
Negotiation and Conflict Resolution

And one of the two courses:

Managing the Global Enterprise
Leading Across Boundaries

Online MBA students will learn from the same on-campus faculty, all of whom have field experiences and are doctorate holders. Additionally, students will have direct access to a career coach that will help them explore opportunities for professional advancement and support them as they navigate the ups and downs of job searching. Students will be eligible for scholarships and other financial aid to support their success without breaking the bank.

Villanova University

Villanova, Pennsylvania

Tuition per credit for online MBA program: $1,250
Units Required: 48
Program Length: 24 months
Financial Assistance Options:

Villanova University offers an affordable online MBA in Strategic Management accredited through the AACSB – Association to Advance Collegiate Schools of Business. This specialization teaches students how to approach the market so that the business can generate sales and profits using strategic management skills and knowledge. This training enhances the learner’s analytical abilities and gives them tools for data collection and market and business research. Additionally, it teaches them how to use the data they get effectively.

Online MBA students can learn more about the foundations of business by obtaining an online MBA from the Villanova School of Business. Students will also learn about how technology has transformed businesses worldwide. The strategic management courses follow three concentration courses:

Analyzing and Leveraging Data
Strategic Marketing Management
Team Leadership and Group Dynamics

The MBA program at Villanova was created with the help of industry-experienced professionals. Online students can take advantage of a tailored online education and have a faculty that will assist them in developing critical leadership abilities. Additionally, online students can interact live with their professors and peers and attend on-campus events and weekend residency opportunities to create a professional network.

Furthermore, the university has a vast global alum network. Online students can participate in optional international immersion programs in developing nations.

Chatham University

Pittsburgh, Pennsylvania

Tuition per credit for online MBA program: $879
Units Required: 37
Program Length: 2 years
Financial Assistance Options:
- Funding Opportunities
- Loans

Prospective graduate students pursuing an MBA degree without having to leave their jobs or other obligations can enroll in one of the most flexible and affordable online MBA programs at Chatham University. Chatham’s online MBA offers various concentrations, including Entrepreneurial Leadership and Strategy. This MBA concentration help students gain abilities to assess modern entrepreneurial and business challenges.

Students will learn several things throughout the degree program. Students will discover the strategies entrepreneurial high-technology companies use to achieve success. Students will learn more about product management, growth hacking, and corporate social responsibility. Additionally, students will learn key ideas and theories in marketing, finance, long-term planning, teamwork, and other areas.

Chatham University’s MBA curriculum is accredited by the IACBE-International Assembly for Collegiate Business Education. Online students will learn from the same on-campus distinguished faculty dedicated to students’ success. The experienced faculty can share their personal field experiences to give students additional ideas to resolve business issues. Concentration courses include:

Innovation and Commercialization
Leading Organizations and Projects
Strategic Performance for Executives

Chatham University maintains close ties with organizations and companies to give students access to real-world entrepreneurial problems and successes. The school is linked to the Center for Women’s Entrepreneurship, AlphaLab, and Idea Foundry.

Ottawa University

Ottawa, Kansas

Tuition per credit for online MBA program: $649
Units Required: 36
Program Length: 2 years
Financial Assistance Options:
- Grants
- Loans

Ottawa University offers an ACBSP – Accreditation Council for Business Schools and Programs-accredited online MBA program with a Strategic Innovation concentration that aims to improve students’ problem-solving abilities in creativity, entrepreneurship, and social responsibility. This program focuses on altering organizations and processes, applying creative problem-solving and strategic decision-making to improve students’ working practices, and leading innovation with corporate foresight. These abilities enable for-profit, nonprofit, and entrepreneurial businesses to grow and thrive.

Students will be required to complete core courses and strategic innovation courses to graduate with a specialization. Concentration courses help online students advance their careers and take on new responsibilities. Students will learn how to strengthen their focus on strategic tasks and conduct thorough strategic planning and analysis through the following concentration courses:

The Creative Organization
Corporate Strategies
Social, Cultural, Legal, and Political Influences on Business
Managing in a Global Environment

Students will benefit from having as much flexibility as possible to balance their already hectic life with their studies, with the term length for their classes being eight weeks. Each year, there are six terms available. Students can take their time studying, attempt a full course load, or simply take one class every term.

Pennsylvania State University

University Park, Pennsylvania

Tuition per credit for online MBA program: $1,236
Units Required: 48
Program Length: 2 to 3 years
Financial Assistance Options:
- Federal Student Aid
- Scholarships

Pennsylvania State University World Campus offers an affordable online MBA in Strategic Leadership that provides some of the world’s top academic minds and business experts. The strategic leadership MBA concentration will help graduate students obtain the organizational, strategic management, and leadership skills to stand out in a crowded employment market for senior leadership roles. Students will learn to create appealing strategies, coordinate organizational aspects in pursuing those objectives, and foster corporate culture and commitment.

Penn State World Campus uses real-world business issues to help students gain expertise before graduation. The curriculum requires students to complete core courses before taking concentration courses. The strategic management MBA has three concentration courses:

Strategic Leadership
Executive Leadership
Strategy Implementation and Organizational Change

The program integrates business principles across formerly compartmentalized business disciplines to help students have a broad viewpoint in approaching problem solutions. Every course will include group projects to encourage peer interaction and foster a feeling of community among MBA students. In real-world corporate settings, people routinely collaborate in teams to solve challenges, and these projects imitate those settings.

Florida International University

Miami, Florida

Average Cost: $42,000
Tuition per credit for online MBA program: $1,000
Units Required: 42 Credits
Program Length: 18 Months
Financial Assistance Options:
- Merit Scholarships

Florida International University offers an affordable online MBA in Strategic Negotiations designed to help graduate students learn the fundamental abilities and information required to bargain strategically and effectively. The program includes a series of interactive, progressively more difficult mock negotiations. These activities will help students identify their unique styles and create a methodical approach to various complex professional scenarios.

Students will be able to develop the self-assurance to handle win-lose circumstances and turn them into win-win scenarios. This specialization will also teach students proven strategies for organizing and managing sales operations.

Students enrolled in the spring semester can register for the strategic negotiations Professional MBA specialization at FIU. Students will be required to complete core courses before being able to study for strategic negotiations. Concentration courses are:

Sales Management
Negotiations

FIU’s Professional MBA is one of the few programs accredited by the AACSB – Association to Advance Collegiate Schools of Business. FIU’S College of Business is one of the first business schools that offered distance learning education, ensuring that online students receive a top-notch online education and experience. The PMBA Online program provides ambitious people who wish to enhance their professions or businesses with a flexible yet comprehensive program.

Concordia University – Wisconsin

Mequon, Wisconsin

Tuition per credit for online MBA program: $799
Units Required: 36
Program Length: 2 years
Financial Assistance Options:

Concordia University Wisconsin’s online MBA in Strategic Management has one of the lowest tuition fees, perfect for working students who don’t have the means to attend expensive on-campus degrees. The strategic management concentration focuses on helping students develop the abilities they need to effectively and compellingly engage with the audience of their firm and apply for high-level managerial positions in various business types. The IACBE – International Assembly specially accredits this online MBA program for Collegiate Business Education, which means that students should expect to undergo a comprehensive curriculum.

Concordia University’s online MBA in strategic management offers several strategic management courses that include topics that will enhance their capacity to build relationships. This is one of the most flexible and customizable online MBA degrees. MBA students in the strategic management specialization have the chance to choose their own concentration courses:

Publicity and Public Relations
Social Marketing Strategies
Strategic Marketing
Advertising Management
Marketing Research and Intelligence
Integrated Marketing and Brand Activation
Sponsorship, Sales, and Fundraising Strategies

Concordia’s online MBA program includes STEM courses, weekend-long international study abroad, dual degrees, and internship credits. This helps online students further maximize their knowledge and skill. Additionally, the MBA program allows students to acquire certifications in their areas of concentration and exam preparation for the industry.

Winthrop University

Rock Hill, South Carolina

Average Cost: $26,460
Tuition per credit for online MBA program: $780
Units Required: 36
Program Length: 2 years
Financial Assistance Options:

Winthrop University is a comprehensive university offering cheap accredited online degrees nationwide. Winthrop’s online MBA degree, accredited by the AACSB – Association to Advance Collegiate Schools of Business, ensures online students will receive a quality education recognized worldwide. The MBA program offers a few specializations, including a Strategic Leadership Concentration tailored for students interested in creating a vision for their company to remain competitive in a rapidly evolving business environment using various management styles.

This program concentration equips students with the necessary abilities to help them implement change within their organization as strategic leaders. Graduates will be taught to use their vision to inspire staff members and departments by encouraging a sense of unity and direction.

Strategic management students will enroll in executive-level management-focused education, which consists of the following courses:

Leadership Dynamics
Advanced Human Resources Management and Labor Relations
Marketing for Global Competitiveness

Students will learn several micro-credentials as they finish the basic courses in the MBA online program. The MBA’s micro-credentials help students improve their resumes and make them better qualified to stand out in the job market. Additionally, the school limits class sizes to encourage interaction and relationship-building among the diverse student body. Most online courses will be instructed by the same full-time faculty members who teach the on-campus MBA program.

Messiah University

Mechanicsburg, Pennsylvania

Tuition per credit for online MBA program: $735
Units Required: 36
Program Length: 1 year
Financial Assistance Options:

Messiah University’s Accreditation Council for Business Schools and Programs-accredited online MBA program offers several concentrations at a very low cost. The Strategic Leadership concentration is designed to develop well-rounded business graduates who are strong in moral judgment, creativity, inventive thinking, complex critical thinking, social and emotional intelligence, and other abilities that can be applied to any career field. Since the curriculum is entirely online, you can do it whenever and from anywhere a reliable internet connection is available.

Messiah University’s online MBA curriculum seeks to fully equip students with everything they need for the job market. The curriculum requires students to study core courses to gain advanced business knowledge before choosing a concentration. The strategic leadership concentration requires students to complete nine credit courses:

Strategic Thinking, Planning, and Organizational Change
Leading Leaders
Followership, Teamwork, and Group Dynamics

Messiah University’s online MBA program uses the most recent research, industry best practices, and tried-and-true leadership and business models. Additionally, the university subscribes to the idea that a person’s faith changes their perspective and method of conducting business and exercising leadership. As a result, the online MBA program integrates business concepts with Christian knowledge and encourages students to build rapport with their customers, coworkers, and communities while serving God.

Russell Sage College

Troy, New York

Tuition per credit for online MBA program: $725
Units Required: 42
Program Length: 2 years
Financial Assistance Options:
- Graduate Assistantships

Russell Sage College offers a unique Design Thinking for Business Strategy & Entrepreneurship MBA concentration to provide aspiring entrepreneurial managers with the tools and strategies they need to swiftly and effectively launch novel products or services on the market based on solid customer insights. The program adapts the well-known design thinking idea to promote entrepreneurship and business strategy. Students will understand design strategy and how it varies from conventional design thinking.

The knowledge they learn throughout the concentration will help them determine how design thinking can be applied to their business to improve current goods or services or launch ground-breaking concepts.

The ongoing pressure managers experience to be inventive and roll out new products and services for their clients is the issue that this concentration helps to solve. However, many innovative ideas get “stuck” in the boardroom or are influenced by groupthink or intra-organizational conflicts. With the following concentration courses, students will be able to develop strategies for overcoming these difficulties:

Design Thinking Fundamentals
Entrepreneurship
Digital Marketing Essentials
Project Management Essentials

The online MBA program at Russell Sage College is recognized by the IACBE-International Accreditation Council for Business Education.

The Sage MBA Program has long been praised for its adaptability and student-centered approach. Sage has developed several curricular benchmarks that will help to structure student growth. Sage has three milestones centered on class activities.

Frequently Asked Questions

Are there any professional organizations for Strategy and Management professionals?

There are several professional organizations for students and professionals in strategy and management. These professional organizations will help you grow, build relationships with people in your field, and improve your business profile.

Being a member of an industry association demonstrates your dedication to and involvement in the progress of your career. Employers, clients, and customers appreciate that.

Here are some of the top professional organizations in strategic management.

Strategic Management Society (SMS)

The SMS aims to create impact based on research and experience by fusing thoughtful scholarship with reflective business knowledge.

Association of Strategic Alliance Professionals (ASAP)

Alliances, partnerships, and other cooperative business ties are the focus of ASAP’s negotiation, planning, and execution efforts.

National Association of Corporate Directors (NACD)

NACD is the top member organization for corporate directors who want to increase their knowledge, develop their networks, and reach their full potential.

Strategic and Competitive Intelligence Professionals (SCIP)

SCIP is a non-profit, international community of leaders that uses knowledge, best practices, and unwavering ethics to promote growth and reduce risk in strategic decisions.

Association for Strategic Planning (ASP)

ASP, a membership organization, represents professionals involved in strategic thinking, strategic planning, and strategic action.

Turnaround Management Association (TMA)

The Turnaround Management Association (TMA) is the premier organization for experts in turnaround management, corporate restructuring, and distressed investing.

American Management Association (AMA)

AMA is a global pioneer in professional development, increasing people’s abilities to generate economic growth.

National Association of Productivity & Organizing Professionals (NAPO)

NAPO is committed to assisting productivity and organizing specialists in bringing order to people’s lives and enterprises.

Association of Change Management Professionals (ACMP)

The ACMP is the top and most respected international organization devoted to improving the field and profession of change management practices that aid in attaining planned business goals via individual and organizational change.

What makes a good Strategic Manager?

A competent strategic manager has practical experience creating and managing business plans and a strategic perspective on business. A tactical approach and a broad range of skills, including the capacity to formulate strategies and take action, are characteristics of a successful strategic management professional.

A successful strategic manager must possess the following qualities:

Problem-Solving

Strategic managers must devise innovative solutions to respond to new legislation, achieve a business goal with limited resources, or alter an unproductive corporate culture. This can entail coming up with an original idea or thinking beyond the box.

Analytical Thinking

Strategic managers must be able to evaluate a company’s main strengths and weaknesses, evaluate the market and the competition and identify issues that are impeding a company’s growth. You’ll also need to balance the long- and short-term benefits of various strategies, company risks, and possibilities.

Leadership

Strategic managers must be able to lead others, from management to personnel, to carry out their strategic plans. They need power and effective communication abilities to implement their vision for the company at all levels.

Vision

Strategic management success depends on an organization’s ability to see the big picture. This entails being aware of a company’s mission and having the capacity to foresee particular objectives that will support it.

Flexibility

Strategic management is an ongoing process. This means that practitioners should be flexible in adapting to shifts in legislation, the economy, market forces, technology, and other business considerations.

Furthermore, they must be able to assess their business plan once it has been implemented and keep making changes in response to feedback and performance.

What can you do with an MBA in Strategy?

All types of businesses require their employees to know various business techniques. Fortunately, an MBA in strategy can equip students with the necessary abilities to generate profit or business problems.

Graduates of MBA programs in strategy can work in any business area, and they can also expect to earn well because these positions frequently offer substantial financial benefits.

The most common career paths for strategy MBA graduates include:

Business Analyst

Business analysts evaluate an organization’s performance and work with it to enhance its systems and processes. These professionals find solutions to business challenges by performing research and analysis. They then assist in introducing these solutions to businesses and their customers.

Chief Operating Officer

The COO oversees and manages the company’s daily business operations while collaborating closely with supervisors and department heads to support employees’ normal workdays.

Finance Manager

A finance manager distributes a firm’s financial resources, plans the budget, and assists the executive management team by providing financial insights and guidance so they may make the best decisions for the organization.

Operations Manager

Operations managers oversee the processes of creating a company’s products and/or services.

Senior Strategy Manager

The creation and supervision of the company’s corporate strategies fall under the purview of the senior strategy manager. These experts assist in achieving growth goals while enhancing the company’s foundation to create and preserve a competitive advantage.

Senior Product Manager

Leading product managers while coordinating with engineering, marketing, sales, and other departments are senior product managers. They create the product’s needs and roadmaps and incorporate consumer feedback into the plan for the product.

What are the upsides and downsides of a Strategy MBA online?

MBA degrees are great ways to advance your career. However, there’s no one-size-fits-all. While an MBA in strategy is a great selling point, pursue this academic and professional path. Knowing the pros and cons will help determine if this degree is for you.

Pros:

Strategy is a versatile topic.

Graduate and professional studies in strategy allow learners to develop transferable skills, such as entrepreneurial, analytical, and decision-making skills. Affordable online MBA programs in strategy will help you obtain high-level positions in various business fields.

Strategy MBA opens doors to lucrative career paths.

According to Payscale, graduates of an MBA in strategy earn a median salary of around $102,000. Median salary can go up even higher for mid-career professionals and those employed at major corporations:

You will have a respectable career.

The benefit of being in charge of a company’s strategy is that it can lead to c-suite opportunities and high-level responsibilities with plenty of authority and prestige.

Cons:

Strategy MBA can be technical.

Due to its adaptability, an MBA in strategy may not be suitable for those who want to become experts in a particular field.

The field is demanding.

The strategic management career path is challenging and even stressful since professionals in this industry must make decisions under challenging conditions like intense market competition, restrictive budgets, and limited resources.

It requires leadership

There might be better options than an MBA in strategic management for professionals who want to work more closely with smaller teams. Putting an organization’s plan into action necessitates managing bigger groups of people.

Do Online MBA in Strategy programs offer financial aid?

You’ve made a wise decision for your financial future if you pursue an online MBA in strategy. You have higher chances of graduating with good salary potential. However, with the rising cost of education, paying upfront for your degree can be challenging — often almost impossible.

Fortunately, online degrees typically cost less upfront than their on-campus equivalents.

Finding funding to defray the cost of graduate school will also benefit you. You won’t be required to pay this money back.

Start by filling out the Free Application for Federal Student Aid form. Using vital financial records like tax returns, this tool will examine your financial needs. Upon completion, the tool will determine your eligibility for state and federal help, such as grants and subsidized loans.

A student with a graduate degree typically has less access to need-based financial aid than someone with an undergraduate degree. You might have few choices.

The good news is that most universities make a serious effort to make up for the lapses. Numerous need-based grants and scholarships are available from them. Additionally, most colleges provide merit-based rewards.

After you’ve exhausted those possibilities, you can look into other scholarship and financing opportunities, local philanthropic groups, businesses that will sponsor you, or even your job. Finding money to pay for college may be as easy as finding gold in your own business.

Make yourself the best applicant to get funding for your master’s degree. Improve your GMAT and GPA before applying, and always apply early.

Are MBA programs in Strategy that are “less expensive” of good quality?

Yes, there are many good quality MBA programs in strategy that are less expensive. It’s essential to research the programs that you are considering to make sure that they provide the quality of education you are seeking. Additionally, you may want to consider online MBA programs offering scholarships, grants, or other financial assistance to lower tuition costs.