What Can I Expect from an Online MBA in Nonprofit Management?
An MBA in nonprofit management gives students the skills necessary to lead and manage nonprofit organizations. You’ll learn how to raise funds and manage financial affairs and organize social projects. The online master’s program offers the same educational benefits and coursework as on-campus programs but eliminates commute times and makes it easier to juggle work, school and personal activities. Programs vary depending on the college or university, so it’s important to do your research and choose one that meets your career goals.
Concentrations Offered for an Online MBA in Nonprofit Management
|CONCENTRATION||DESCRIPTION||POTENTIAL CAREERS FOR THIS CONCENTRATION|
|Human Resources Management||Focuses on developing skills required to plan, create and develop policy, procedures and practices that align with the organization’s strategy.||Medical ethics professors, medical consultant, medical ethics lawyer, barrister, chaplain|
|Global Management||Provides an understanding of the nonprofit’s role in the global economy.||Informatics nurse, clinical analyst, clinical informatics specialist, health informaticist, health informatics specialist|
|Health Administration Management||Students learn how to plan, implement and evaluate nonprofit public health programs.||Medical office administrator, medical executive assistant, health information, social and community service manager, healthcare human resources manager|
|Marketing||Gives students marketing strategies for nonprofit, charitable and nongovernmental organizations while providing a broad term of marketing basics.||Public health researcher, healthcare policy analyst, health service manager|
Curriculum for an Online MBA in Nonprofit Management
The curriculum for an online MBA in nonprofit management includes classes that prepare professionals to use business skills to transform social campaigns. With the skills from an MBA, you can learn how to make a nonprofit more successful through excellent leadership. Coursework will vary depending on the concentration, but some common courses you might encounter include:
|Financial Management||Delve into the external and internal financial reports that are relevant to nonprofit budgets and strategies.|
|Program Evaluation||Students learn how to collect information about a program in order to make informed decisions.|
|Resource Development||Explore managing ethics in a nonprofit workplace and goes over various ethical and moral dilemmas that face nonprofits.|
|Ethical Workplaces||Covers the legal issues that arise in health care and includes an overview of regulations and legislation.|
|Organizational Theory||Examine the need for management skills and training as they pertain to nonprofit or charitable organizations.|
How Long Does It Take to Get an Online MBA in Nonprofit Management?
The online MBA in nonprofit management requires around 42 credit hours of coursework. The degree program can take two to three years to complete when taking classes full-time; a part-time courseload takes around five years to complete. Both are dependent on how classes are presented by the college or university. A cohort program groups students together in a graduating class and follows a rigid class schedule. Specific courses may only be offered once a year or once every two years, which can slow down the time of completion. Self-paced courses are completed on your own time, so you can choose a fast track and finish in as little as a year.
Certifications and Licenses an Online MBA in Nonprofit Management Prepares For
|Certified Nonprofit Professional||This credential is the online professional credential for an MBA in nonprofit management. Applicants must complete a leadership development program. Members receive access to a network of resources.|
|Financial Risk Manager||Those with an MBA who want to keep doors open for a career in risk management can achieve the FRM certification. This internationally recognized credential provides proof of your academic qualifications and experience in risk management.|
|Six Sigma Certification||Prepares you for leadership roles and improves your salary prospects and job opportunities. Candidates must take a course and pass a proficiency exam.|
Accreditation for Online MBA in Nonprofit Management
Accredited degrees meet the industry standards for academic quality and are often preferred by employers when selecting job applicants. Accreditation is also necessary when you are looking for federal financial aid. Schools may receive national or regional accreditation. Regionally accredited schools are reviewed by one of six accrediting agencies and are generally more prestigious. Nationally accredited institutions tend to be vocational schools. Credits from regionally accredited schools usually transfer from one program to another and even to nationally accredited programs, but not all credits from nationally accredited programs transfer.
Employment Outlook for MBA in Nonprofit Management Graduates
Job Placement: Master’s v. Bachelor’s
An online MBA in nonprofit management may open doors to upper-level management positions that aren’t available to those with an undergraduate degree. Some career choices, like executive director positions, require a graduate degree to ensure mastery of management principles. Professionals with a master’s often receive higher pay and increased job responsibilities, and the degree makes it possible to seek careers in other industries.
According to the Bureau of Labor Standards, those with a master’s degree can expect to see a premium salary over those with a bachelor’s. In 2013, those with graduate degrees earned approximately $12,000 more per year than those without.
Wage earners across all industries with an MBA earned an average of 90 percent more than those with an undergraduate degree.
An online MBA in nonprofit management may let you expand your career path to other areas besides the nonprofit sector. With an MBA, you may be eligible to work in both large corporations and small businesses.
|JOB TITLE||JOB DESCRIPTION||MEDIAN SALARY||PROJECTED GROWTH RATE|
|Nonprofit Accountant||Produces accurate reports and records and encourages and measures the accountability of the nonprofit organization.||$69,350 per year||10%|
|Management Analyst||Proposes ways to make an organization more efficient.||$82,450 per year||14%|
|Fundraising Manager||Directs the creation of material that maintains and enhances a company’s image.||$111,280 per year||10%|
|Community Service Director||Coordinates and manages social service programs, including those for nonprofits.||$64,100 per year||18%|
|Human Resources Manager||Handles the administrative functions of an office, especially those that relate to volunteers and personnel.||$110,120 per year||9%|
Professional organizations provide support for professionals within a given industry. Most offer educational opportunities, continued support and networking events. Consider some of the top professional organizations for those with an online MBA in a nonprofit organization.
Nonprofit Workforce Partners: This organization brings professionals in the nonprofit sector together to help create a social impact.
Association of Fundraising Professionals: Provides the standard for professionalism in fundraising. The Association of Fundraising Professionals offers suggestions, publications and other materials to help fundraisers become more successful.
American Management Association: The AMA offers training and professional development opportunities for business managers and others in the business industry. The group has specific resources and support for women business owners, and it offers online training and seminars.
Financing Your Online MBA in Nonprofit Management
The online MBA in nonprofit management program offers the same coursework and excellence that on-campus programs offer but at a reduced cost. Individuals enrolled online often still seek financial assistance to help pay for their degree. The first place to start is by filling out the Free Application for Federal Student Aid (FAFSA), which provides you with information on grants, loans and scholarships available through the federal government. For additional assistance, there are many private and public organizations that offer scholarships and financial assistance for those majoring in an MBA in nonprofit management. Check out the following resources for more information.
|Financial Aid for Graduate Students|
|Knowing Your Options|
|Heller MBA Fellowships and Scholarships||Award: $3,000-$10,000
Deadline: March 1
Eligibility: Students must be working towards an MBA in nonprofit management at Brandeis University and display financial need.
|National Academy of Human Resources Graduate Scholarship||Award: $5,000
Deadline: November 1
Eligibility: Applicants must be enrolled in a master’s degree program with an emphasis in a business-related field and be a member of the Society for Human Resources.
|Transamerica Leaders in Healthcare Scholarship||Award: $5,000
Deadline: January 11
Eligibility: Students must be a first- or second-year graduate student majoring in health care or a related business field. The applicant must also demonstrate a financial need and a commitment to community service.