In this competitive job market, having your MBA degree is a key advantage to moving up in you career.  There is a school of thought that online MBA programs are not as prestigious as some big name campus based programs, but today, that is no longer the case.

The MBA program at the Chancellor University System will be known as “The Jack Welch Institute” after the former GE powerhouse and will be mostly online. Welch recently paid $2 million to have his name and likeness associated with the program, after meeting lead investor Michael Clifford at a party a few years ago.

According to Bess Levin, Welch was initially skeptical of online education, but he was impressed by the Apollo Group Inc.’s University of Phoenix and Clifford’s Grand Canyon University. Last fall, Welch called Clifford and said that he wanted a role in Chancellor. “I’m now a believer,” Welch says.

Welch says the MBA program will integrate his philosophy of leadership and human resources into a 12-course curriculum designed for mid-career workers. Welch and his wife, Suzy, are also helping to recruit faculty and planning curriculum; he will record a weekly video for students, according to a recent article.

A leading consulting and research firm has estimated that 11% of college students nationwide took coursework almost completely online.  The revenue generated by online education is projected to top 11 billion dollars this year.  Students who plan to earn their MBA online will find that there are more and more options available for high quality programs.