An MBA is always highly valuable. It is a popular degree, and the enrollment ratio is relatively high. The online MBA has been introduced to make it more financially viable.
The Gies Business School at the University of Illinois introduced an online MBA program and has been quite successful. Another example is the Questrom School at Boston University, which launched an online MBA to compete with its full-time MBA program.
Those MBA programs have been quite successful. The response was overwhelming, and more than 800 students attended in the year 2020/21. Most importantly, those online MBA programs were well reviewed by the Poets & Quants website.
The Internet has forced business schools to make a separate business model, mainly due to the COVID-19 pandemic. Britain's Open Business School developed an online learning method using its learning platform. The method has been quite successful and has helped significantly the working-class students, for its affordable pricing. (Reference 1)
Online MBA admissions are rising in the US
Online MBA programs are cheap and flexible. More than 36% of candidates are now ready to enroll in the US. Online MBA graduates are valuable and highly rated and are likely to earn more than bachelor's students.
Campus MBAs are expensive. Along with tuition fees, the living expenses are also quite expensive. Therefore, online MBAs are offering cheaper options to students.
Just like a campus MBA online MBA can also play a significant role in career development. Fundamental business knowledges will be provided by some experienced faculty members online.
The cost of an online MBA program is reasonable due to reduced costs. Learning will be done off campus, and students will be able to join these courses from the comfort of their homes remotely.
Students' money will be saved on campus fees, transport costs, and housing. Most importantly, the online MBA programs are more flexible and can be studied from anywhere.
The affordability cannot be ignored. Students will enjoy its flexibility while maintaining their work life. Students can also receive a full scholarship with tuition fees as low as $10800. They will be able to learn some core skills to further enhance their career. (Reference 2)
Prominent Universities offering online MBA programs
University College London, Wharton Business School, Georgetown McDonough, and some other big names are offering online MBA courses. It is the only way to reach the global market.
It is an excellent way to diversify the portfolios to meet the upcoming demand. The online MBA admission is getting popular in the US market because of its flexibility. (Reference 3)
Online MBAs from top institutions, such as Duke University, are highly valued. A graduate from Indiana University’s Kelley School of Business reported a 30 % salary increase within one year.
Pros and Cons of Online MBA
The demand for online MBA is rising, apart from various limitations and problems. Attending an online MBA is quite flexible, and it can take place from anywhere. But the networking opportunities will be limited with fewer interactions.
Online MBAs are affordable, and these programs are getting widely accepted because of candidates' family, work pressure, and many other social obligations. But students are having fewer interactions with the lecturers, because they are unable to ask questions instantly.
There is a significant growth in the digital environment. Also, many jobs are now hybrid. But being a remote student, it is quite difficult to find the learning spirit of on-campus business schools.
(Reference 4)
Also read, Low-cost online MBA courses in the USA
Reference
1. Davies, J., Thomas, H., Cornuel, E. and Cremer, R.D. (n.d.). Leading a Business School. Chapter 5 Routledge. Google book
2. Is an Affordable Online MBA Worth It? Pros and Cons of Low-Cost Degrees. Hughes, P. (2024) [online] Clear Admit
3. Is An Online MBA Worth The Money? Wise, L. (2023) [online] Businessbecause.com.
4. Is an online MBA worth it? Everything applicants should know. Fore, P. (2021) [online] Fortune Education.
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