What Is The ROI Of An Online Master’s Degree?

Are you deciding between studying your master’s degree online or in-person?

Choosing where and how to study your master’s is a big decision and making sure the commitment—and investment—is worth it is likely at the top of your agenda.  

In a 2023 survey conducted by Carrington Crisp, 29% of prospective master’s students said they were seeking to study a fully online or blended master’s degree. 

While down from 38% in the previous year, it’s clear that for a generation entering an uncertain economy, the prospect of taking onmore manageable student debt while still broadening career and salary prospects makes studying online an attractive choice.

So, what is the return on investment (ROI) of an online master’s degree?

Studying an online master’s degree means less student debt 

There can be a significant difference between the cost of full-time and online masters degrees.

For example, at Imperial College Business School, where the full time Master in Strategic Marketing program costs £42,500 ($56,000) for both home and overseas students for a 12 month course (increasing to £44,000 ($58,000) for the extended placement, which lasts 16 months). Whereas the online Master in Strategic Marketing program costs a considerably lower £34,400 ($45,000) for both home and overseas students. 

At the University of Arizona’s WP Carey School of Business, the Master in Business Analytics (MSBA) costs international students $93,000, unlike the online equivalent, which costs $44,000.

If you are concerned about the cost of studying, it’s also worth bearing in mind that studying your master’s degree online means not having to pay additional costs for accommodation and travel.

What’s more, many online programs are delivered asynchronously, meaning you can watch lectures and complete any projects and coursework according to your own schedule. So, if you choose to, you’ll be able to work while you study and further offset the cost of the program.

You gain similar opportunities and quality of education 

Despite involving studying remotely, business schools work hard to ensure the experience of an online or hybrid master’s degree can be engaging and professionally fulfilling. 

This is, in part, due to business schools ramping up their use of innovative educational technologies in recent years to make online learning even more interactive and inspiring.

At IE Business School, online programs—including the blended, part-time Master in Business Analytics and Big Data—are taught through the concept of Liquid Learning, blurring the lines between online and in-person learning.

In 2023, the school revealed plans to open campuses in the metaverse, via Roblox and Decentraland, where students could attend classes and events in the digital world. The virtual campus design aims to use virtual and augmented reality to bring to life business cases and allow students to interact from anywhere in the world.

As well as working with cutting-edge tech during your online master’s, some programs also provide students with experiential learning and travel opportunities.

In the Master’s of Leadership & Management (MALM) program at Thunderbird School of Management in the US, there are ample chances for students to collaborate amongst the cohort and connect with potential employers.

In the Thunderbird Global Challenge Lab (GCL), students spend three to six weeks working onsite with a client in an advanced or emerging market, such as Mexico City or Vietnam. Another initiative sees MALM students work remotely to solve a consulting industry challenge in a country of their choice.

Such opportunities give online masters students the chance to network and build essential team-working and interpersonal skills.

The curriculum you study during an online degree is often the same as an in-person program and you’ll earn an identical degree certificate. The skills you learn during your master’s will therefore make you an attractive hire for employers, helping to provide a solid return on investment after earning your degree.

Online study offers exciting job opportunities and salary prospects 

In 2025, many employers remain interested in hiring online master's graduates, with employers in the technology sector being the most open likely to view online and in-person graduates’ technical, communication, and leadership skills as equitable, according to the Graduate Management Admission Council (GMAC). 

As has long been the case with business school graduates, students can land roles with top companies after graduation. 

Previous grads from the Thunderbird MALM program, for example, have landed jobs at top companies such as Amazon, Microsoft, Adidas, and IBM. Roles included managerial positions such as global marketing manager, innovation manager, and global product manager.

There’s no doubt that online master’s degrees have evolved significantly, and with rapidly advancing technology, the experience of online learning is likely to continue becoming even more sophisticated. 

So, with the prospect of earning a high-quality education as well as cutting the additional costs of studying in-person, you’re sure to see an impressive ROI on your degree.