Nowadays, when students have the opportunity to choose between countless MBA programs offered by some of the most prestigious business schools out there, is an online MBA even worth considering? Let’s find out.
Are Online Degrees Credible?
Even though many (now debunked) myths have followed online degrees for years, they didn’t affect the interest of people to enroll in online universities. The opposite actually happened, the number of students enrolled in them grew significantly. People started to take online degrees even more seriously when many renowned universities joined the initiative to offer online courses.
Seeing that online degrees are equally demanding as on-campus ones and require active attendance and participation convinced people that they are trustworthy. Not only that, but even the process of admission into an online school is also quite similar to the process of regular universities. Students have a number of requirements to fulfill to be considered for admission.
Another element that makes online degrees credible is accreditation. There is a chain process every online university goes through. To be accredited, each online university has to fulfill specific criteria; to fulfill the criteria, each university does its best in creating an ideal learning environment. Not every university will get accredited by accrediting bodies, that’s why they go above and beyond to bring students high-quality learning. An accredited university is more likely to offer high-quality online MBA degrees.
5 Benefits of Online MBA Programs
Online MBA programs can match the intensity and quality of their on-campus counterparts. Not only that, but students also get to benefit from their choice of online studying. Here are five benefits of online MBA programs.
Many people who consider getting an online MBA are juggling between professional and family responsibilities. Despite having multiple responsibilities, they still are looking to get an education in ways that wouldn’t interfere with their daily schedules. An online MBA is the best solution in this case as it offers both synchronous (online learning happening in real-time) and asynchronous learning (online learning happening at different times) adapting in this way to different schedules people may have.
2. Lower costs
Paying for college can be a financial concern for all students. Especially for those who have a family to look after. While an on-campus MBA can be costly, an online MBA is more affordable. The students who otherwise wouldn’t afford to attend a traditional, full-time MBA program because of the high tuition, can still obtain an MBA degree online by saving on tuition as well as on other on-campus expenses.
3. Networking opportunities
Networking can be a critical element to the successful employment of an MBA graduate. Online MBAs offer networking opportunities through many group projects that are delegated to the students, online discussions in discussion boards, forums, and online portals and social events that bring together the alumni. You should take every opportunity to get to know other students and professors, as this can have an impact on your future.
4. Multiple school options
Despite many advantages to on-campus MBA, one downside is that it limits your school choice geographically. Not all people want to move across the country or the continent to get a degree. Some may not want to make many changes in their life, house, and lifestyle. And this is why an online MBA is ideal for these kinds of people as they get to choose among countless schools from all over the world that offer online MBA programs..
5. Global opportunities
As online MBA programs start to get recognized and gain prestige, many programs want to attract a number of international students by offering numerous international business immersion programs and establishing satellite campuses in different countries. All these efforts are made in an attempt to connect students in an immersive international setting since they can’t see each other or any member of the faculty every day.
How Long Does It Take To Get an Online MBA?
An online MBA might take as few as nine months and as long as four years. It depends on the type of MBA you choose, the courses’ layout, and the time you allocate to your studies. The regular MBA programs opt to focus more in-depth on each course, whereas the accelerated ones go through them briefly as they expect you to have prior knowledge on them.
It also depends on the format of the online classes. While some can be happening in real-time and expect all the students to be online at that time, some of the classes put this responsibility on the students’ shoulders. So for as long as you’re choosing self-paced classes, it’s on your hands how long it will take for you to finish your online MBA.
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Online MBA vs. Regular MBA
All types of MBAs have similarities and differences, benefits, and drawbacks. On the table below, you can see what makes an online MBA different from and similar to the regular MBA.
|Duration||It can take from 13 months to 4 years. It all depends on the school that you choose and course requirements||2 years|
|Costs||It depends on the specialization and the school you choose. Most online schools charge students per credit. However, the cost of an online MBA takes up to $35. 842||The tuition costs depend mostly on the prestige of the school. An average business school requires students to pay up to $60,000, whereas top business schools may require up to $100.000|
|Location||The location is up to you, it can be your home, office and everywhere you deem appropriate||You take classes at the school you applied|
|Curriculum||Online MBA curriculum consists of core and elective classes||The curriculum of regular MBA consists of core and elective classes|
|Work Load||Online MBA students can afford to divide their classes according to their schedule||Regular MBA students have a heavy schedule, which leaves little time for other activities|
|Admission Requirements||A four year Bachelor’s degree from a certified US institution
A GPA of 2.8 minimum
2-3 years of work experience
Letter of recommendation
|A four year Bachelor’s degree from a certified US institution
At least 3 years of work experience
GMAT score of 600
|Acceptance Rate||It depends on the school’s reputation||It depends on the school’s reputation|
|Student Profile||A business professional who is looking to further their education and go up the business ladder but can’t find the time to attend the classes||A business professional who is looking to further their education and go up the business ladder and want to fully commit to their studies|
|Lifestyle||Online MBA students balance their studies with their daily job and other obligations. Don’t have time for extracurriculars||Regular MBA students have a fully scheduled curriculum and many extracurriculars such as student exchange programs, conferences, and many other activities|
An MBA degree is valuable, no matter in which way you choose to obtain it. Each platform, be it on-campus or online, has its benefits. It’s up to you to decide the benefits of which platform suit you best. Either way, an MBA can get you to where you want to be. All you have to do is to take the first step to choose a program.