New Jersey is a relatively small state with a dense population. There are nearly nine million residents in New Jersey, and the metropolitan areas include large cities in the Greater New York City area. New Brunswick, Madison, and Newark are economic hubs that hold major corporate headquarters. New Jersey has many top-rated colleges and Universities including Rutgers, Princeton, and Seton Hall. This is an excellent place to find an MBA program to advance an existing career or open new doors. For those seeking an online MBA, New Jersey offers excellent schools, flexible programs, and many prospects for employment with leading national and global businesses.
The New Jersey online MBA takes about two years of study and online attendance. Rutgers-Camden and the NJIT offer degree programs completely online. Other schools offer a hybrid type of online MBA that requires some on-campus work. Online MBA programs can save money when compared to completely on-campus coursework. Online students do not have to relocate, commute, or take time away from work or business. Most online MBA programs require GMAT tests and acceptable scores. Schools maintain the requirement but waive it on a selective basis when the applicant’s background reflects substantial professional and life experience.
The costs of an online degree vary from a low of about $700 per credit hour to a high of $2,000 per hour. Hybrid programs can limit online coursework to a percentage of the overall credit hours needed for graduation. Others require attendance at evening classes on a periodic basis. Some school locations have higher than average costs of living, including Madison and Newark.
Percentage of Students Enrolled By Distance Education
Typical MBA Concentrations
Concentrations are groups of courses that prepare a student for a particular career path. They help demonstrate a knowledge base. Concentrations can be narrow such as taxation, or they can be broad like one in organizational management. An effective use of concentrations involves getting an excellent overall knowledge base and a focus on an area of high career interest. Concentrations make a graduate more employable and provide an entry into a particular type of employment. For example, in an industry that emphasizes sustainable practices, a concentration in environmental management could offer a big advantage.
Five Concentrations for New Jersey MBAs
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MBA in Information Systems and Technology Information forms the core of the modern corporation and for many businesses; information is among the critical assets. Information technology is a dynamic field driven by new demands and continuous innovation. MBA education prepares graduates to work in technology-centered processes. This concentration combines a solid knowledge base in management and organization with expertise in Information Technology.
MBA in Finance Financial analysis is a foundational element in MBA study; a concentration in finance can be an entry qualification for investment management, private equity functions, and financial analyst positions. Finance concentrations prepare graduates for positions in banking, investment, and private equity organizations.
Pharmaceuticals Management New Jersey is home to many of the large pharmaceutical industry leaders. Being a highly regulated industry with heavy involvement in research and technological innovation, the demands of this industry can be very specific. The field involves many layers of public policy and government oversight.
MBA in Healthcare Administration Health services and health insurance are large industries in New Jersey. There is a substantial demand for MBA graduates with concentrations or focused coursework in health administration and insurance. Healthcare settings have specific elements of government regulation, privacy rules, and information management.
MBA in Marketing Marketing is a prominent part of business operations for a wide range of domestic and international businesses. Managing the marketing process involves data analytics, business analysis, and creative thinking. Marketing has a broad reach within a given organization and marketing management requires an ability to communicate ideas and work in collaborative environments.
Accreditation in New Jersey
Accreditation is a key to determining the value of an MBA degree. Employers recognize the importance of accredited education when reviewing and rating applicant qualifications. Accreditation ensures the employer that the coursework and overall curriculum meets the standards needed to equip the student for successful employment or further education. The US Department of Education approves accreditation agencies. For MBA students, there are two types of accreditation that can determine the value of your degree. The types are national and regional accreditation and program accreditation.
National or regional accreditation covers the entire institution including its schools, colleges, and major divisions. Institution-wide accreditation ensures that the level of instruction meets the standards needed for quality education. The factors include qualified faculty, a set of balanced curricula, reasonable class size, administrative support, and adequate educational resources. Regional accreditation agencies perform this task and, in New Jersey, the leading agency is the Middle States Commission on Higher Education.
Program accreditation covers a particular type of education such as Business education in a college or school of business. Program accreditation drills down on the subject area and examines the details of faculty, curriculum, and graduation requirements. The Association to Advance Collegiate Schools of Business (the AACSB) accredits New Jersey MBA programs.
Career and Job Outlook for MBA Graduates
Top Employers in the State by Number of Employees
Company
Industry
Headquarters City
Number of Employees
Wakefern Food Corp
Food
Keasbey, NJ
35,000
Barnabas health
Healthcare
West Orange, NJ
21,000
PSEG
Energy
Newark, NJ
10,000
Johnson & Johnson
Healthcare
New Brunswick
9,600
Prudential
Financial Services
Newark
8,750
Average Degree Salary Ranges Potential
The Chart below describes the typical impact of educational attainment on expected annual income.
Earnings with Associates - $53,990
Earnings with Bachelors - $65,444
Earnings with MBA - $83,341
Careers for New Jersey MBA Grads
Information Security Analysts Big data has big risks, and information security has risen to the top layers of employer demands for new talent. Information security requires specific actions aimed at protecting information and ensuring proper usage. Organizations must comply with specific protections for privacy and health information by law and regulations.
Financial Analysts The Bureau of Labor Statistics projects financial management positions to grow by more than 19% between 2016 and 2026. Financial analysts play a key role in preparing financial transactions, valuations, and commercial transactions. Financial controllers manage financial reporting and oversee regulatory compliance, external reporting, and internal controls.
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Human Resources Specialists Human resource managers are essential parts of the core management of nearly every organization. Their duties include recruitment, retention, salary administration, and personnel budgeting.
IT Manager Information Technology includes internal information and data produced by business processes. The IT manager oversees the hardware and software systems. They must also ensure data protection and security.
Financial Analyst Analysts study financial data from the point of view of growth, investment, and financial forecasts. They provide essential input for budgeting, strategic planning, and reporting.
Management Operations The day-to-day business of an organization requires constant oversight and management attention. The daily functions must support the organization's essential processes. The organizational goals depend on smooth operations and sound management decisions.
How to Choose & FAQ's
The MBA may be a goal in and of itself. For most candidates, the MBA is a step towards career advancement or a career change. Because the candidates seek to advance careers, the selection of a school for the MBA should align with their plans, resources, and long-term goals. The school should provide a degree that helps achieve the student’s objectives. The curriculum should include areas of most significant interest, fit into the time available, and the required investment should be within reach. The overall advantage of online education is that it is accessible to a wide range of students and personal situations.
Costs of the Online MBA
The costs of online education consist of tuition and expenses. Online education costs are usually lower than campus-based programs because they do not require travel or relocation. The rates of tuition vary by a wide range among New Jersey MBA programs. School policy varies on financial aid. Every student is eligible for some type of assistance, but online students will not qualify for the kind of assistance that requires a physical presence on the campus. Online students can use loan programs and other types of merit and need-based scholarship aid.
Employed online students should inquire with their employer about tuition and other student assistance programs. The MBA degree is a valuable addition to workforce skills and qualifications for many employers. Employers that promote education among their workforce often provide tuition assistance, such as reimbursement, for all or part of the tuition costs.
Scheduling and Access
One of the main advantages of online education is that the classwork can fit into your life situation. Many people cannot attend campus programs because of existing obligations for work, business, and family. When selecting an online MBA program, students should make sure that they will have access to the program and that the schedule works with their existing obligations and commitments.
The more flexible types of online courses are called asynchronous- they do not have a fixed schedule or depend on working with other people. Students have the freedom to arrange the classes to match their schedule and available time. Classroom-type online courses are called synchronous coursework. This type of coursework has a defined meeting time and often encourages student interaction.
Student Information
When selecting a New Jersey MBA program, applicants should look at student outcomes. MBA programs publish data on the graduation rates and grade averages of their students. You can also usually see information about the level of debt incurred by the typical graduate. When selecting, applicants should look at the rate of employment among recent graduates as well as any information about the types of jobs they received.
Student satisfaction and student forums are additional useful points of information. Satisfaction is a measure of student reaction to their experience. While student satisfaction surveys may not predict one’s experience, the information can point out the strengths and possible problem areas in a given program.
Post Graduate Support and The Alumni Community Some schools have programs to help students get internships and other placements. This type of support can extend to the initial job search after graduation and as a career-long resource for information and referrals. Some schools also have a large, loosely connected base of former students; other New Jersey schools may have small, close-knit alumni communities. A base of active alumni is an asset. The alumni community is a good source of networking, information, and career support. Some alumni communities hold events that promote networking and increase social engagement among new and older members.
Concentrations
Some MBA candidates have a firm idea of the career path they wish to follow. Other students may seek a broad-based knowledge of business management and organizational behavior. Concentrations can achieve both these goals. Concentrations can be narrow and help you get into a specific type of work, or they can be broad and strengthen your ability to handle nearly every situation. Concentrations vary by school, and the labels used to describe coursework can also depend on the school. Students should be sure that the curriculum offers the types of coursework that may be important to their goals.
Concentrations should go hand-in-hand with practical experience. Many schools require a capstone project, internship, or other hands-on activity. Many students seek to combine a concentration with an internship in their field of interest.
