The online MBA was still kind of a novelty not too long ago, with some questioning its validity. Things have greatly changed since they’ve been introduced, and all major universities now have an online or hybrid version of their MBAs in multiple specialisations. The online MBA could be a good option for some professionals who would like to climb the corporate ladder or some students who like the prospect of being able to get a world-class education from the comfort of their home. So, are online MBAs actually worth it?
Contrary to what many may think, there is absolutely no difference in how online MBAs and traditional MBAs are treated by employers. As a matter of fact, they couldn’t know unless you told them or went to a college that only provides online MBAs.
The truth is that it’s the reputation of the school and its faculty that will make the difference in how your MBA will be viewed. So, the most important thing you should do when looking at the MBA is to check the school’s rankings. Then look at the accreditation. Some of the accreditations you should be looking at when picking online MBA courses include the AACSB, EQUIS, and AMBA.
Another thing you should be looking for is the employability rating. This will give you a good idea of how much the school and its program are respected in the industry.
Another thing about MBAs is that they still allow you to network even if you don’t have face to face interactions. One of the great things about online MBAs is that they attract such a diverse crowd. You might come across long time business owners trying to refine their skills or aspiring students from emerging markets. All of these people could give you insights into different aspects, or introduce you to needs in markets you may have never imagined. More importantly, some of these connections could carry on well beyond your studies.
If you’re a professional or an entrepreneur, MBAs are definitely a good option for you. Courses can be taken synchronously or asynchronously, meaning that you can take your classes on your time in the case of asynchronous classes or on a fixed schedule like synchronous ones. Those who have the time might prefer the structure synchronous classes offer while others might need something that fits around their schedule.
The programmes also allow you to condense your studies or stretch them out for convenience. In all cases, however, online MBAs usually allow students to get their credentials earlier.
One of the groups that stand to benefit the most from online MBAs is international students. They now have the chance to get an education from any prestigious university around the globe without having to leave home. This means that they can get beyond the limitations in their area and don’t have to worry about the immigration formalities.
This is also a great option for domestic students. Some might not be able to get admitted to a university near them, or want to go to one specific institution that is out of reach for them. Online classes give them the option to choose from whichever school they like.
Research shows that the vast majority of online MBA students report high satisfaction rates. One of the reasons for this might be the fact that the MBA is so perfectly suited for an online format. One survey by PoetsandQuants asked graduates if they would recommend the programme to someone they know and how enthusiastically. On a scale of 1 to 10 with 10 reflecting the most gloating recommendation, most students gave their respective programmes a score of 9.22 on average.
Not only that, but students report high satisfaction rates after graduating. One particular programme reported an average salary increase of 29% across its graduates. Another one had 76% of their students getting promotions or starting new jobs after their studies. These are all reasons why online MBAs are getting so much attention from those seeking advancement.
So, if you were still wondering whether online MBAs are a good deal, we hope we were about to help you with your decision. Don’t hesitate to ask other online MBA students what they thought of their experience, and find out what kind of opportunities it opened up for them.