As online graduate programs in psychology continue to proliferate, it is important to understand the research addressing the effectiveness of online graduate education so as to advise stakeholders in these programs: applicants, students, faculty, and institutions. In this article, we examine the effectiveness of online education in psychology at two levels of analysis. First, we examine empirical evidence at the course level: Do online, hybrid, and face-to-face instruction lead to different effects at the level of course outcomes? Second, we examine empirical evidence at the program level: Do online and face-to-face graduate programs provide different academic experiences for their respective students, and how does program type influence the employability of graduates? We supplement these discussions with results from a survey of faculty who converted graduate courses to online delivery methods during the COVID-19 pandemic in spring of 2020. Finally, we provide practical considerations for administrators, educators, students, and applicant stakeholders of online programs. We also offer suggestions for optimizing learning and development in online environments. Our intent is to stimulate discussion on building effective learning environments and continuing to educate optimally effective industrial-organizational psychologists, regardless of delivery modality.