Are Online MBA Programs Worth It?

Are Online MBA Programs Worth It?

Are you a professional standing at crossroads? 

Do you wish to leap in your career? 

Do you have time constraints? 

Do you love your work but want to study more?

If your answer to any or all the questions a YES, then Online MBA programs are a potential solution. They are flexible, affordable, have a global outreach, and are gradually garnering popularity.

According to the Application Trends Survey Report 2019 conducted by Graduate Management Admission Council, “Most US online MBA programs either grew (50%) or maintained (10%) their application volumes year-on-year, and among the 40 percent that reports declines, most declined only slightly (23%).”

Organizations in India are realizing the importance of online MBA courses in today’s shrinking world. Over the last ten years, many colleges and universities have started online MBA degree. Some of the top Online MBA Courses in India (in no particular order) are:

  1. Symbiosis Centre of Distance Learning
  2. Amity University
  3. IIM Calcutta
  4. National Institute of Business Management
  5. ITM University
  6. Pondicherry University 
  7. NMIMS 
  8. ICFAI University
  9. IGNOU

So, are online MBA programs worth it? MBA Rendezvous decodes it for you:

Work Flexibly

  • Online MBA courses provide the flexibility to pursue a degree with ongoing personal and professional commitments. Project managers and senior level executives have the option to pursue online executive MBA courses.
  • Organizations are encouraging employees to complete the online program. Employers consider this as a value-addition to their team.
  • Online programs can be attended from anywhere in the world. They are delivered via online lectures, e-classrooms, etc.  

Ongoing Trend

  • Online MBA courses are gradually becoming a global trend.
  • The credibility of online courses is getting better. Colleges like IIM Calcutta are venturing into this field.
  • Employers have started recognizing the advantage of online MBA programs. Employer support in terms of corporate sponsorship is slowly picking up. They are encouraging professionals with years of experience to take up online MBA courses.

Return on Investment

  • The programs are available at different price points. The online MBA program fees are affordable in India. 
  • Colleges don’t need to spend a lot of money either on setting up the course.
  • Online students can continue studying while drawing their regular salaries.
  • After completion of course the prospects of promotions (and better wages) increases for the MBA graduates.

Time-Saving

  • The online courses are delivered using cutting-edge technology. Online classrooms, e-learning, e-mentoring, and self-learning materials help save time.
  • Students do not have to spend any time on commuting to campuses for weekend-classes. 
  • On average, the programs require 12 to 30 hours per week (includes contact and non-contact hours)
  • The sessions can be recorded and played anytime, as per convenience. Online programs promote self-paced learning.

Heuristic Approach

  • Online MBA allows the professionals to apply the course learnings simultaneously at work.
  • The program structure is tailor-made. It focuses on real-word case-based learning.
  • Industry experts carefully curate the programs. The lessons are self-explanatory, yet students have access to online tutors and faculty members. 
  • Virtual online class sessions allow connecting with peers from around the world. Thus, enhancing the learning capability. 

Although online business programs lack on-campus experience and face-to-face networking. But they are the best solution if you are tight on – time, budget and accessibility. Never the less, the knowledge and exposure never go waste. In the end, any kind of Masters of Business Administration it is definitely worth it.

Frequently Asked Questions

FAQ1. Which colleges offer online MBA courses outside of India?
Ans. Many prominent b-schools outside of India are venturing into online MBA programs. For example:

  1. Birmingham Business School, UK
  2. CMU, Tepper School of Business, US
  3. Warwick Business School, UK
  4. University of North Carolina – Chapel Hill (Kenan-Flagler), US

FAQ2. Is online MBA different from part-time MBA
Ans. Online MBA and Part-time MBAs are types of professional MBA. GMAC conducts various surveys related to Graduate Management Education. It classifies MBA in following categories:

  1. Full-time MBA – one-year, tow-year
  2. Professional MBA – online, part-time, flexible MBA
  3. Executive MBA

FAQ3. Is there an increase in online MBA programs across the globe?
Ans. Yes. According to GMAC’s Application Trends Survey Report 2019-20, among professional MBA courses, online options tend to see more application growth than part-time and flexible programs.

FAQ4. What is eligibility for online MBA courses?
Ans. The eligibility varies for each college / university that offers the online MBA program. However, graduation a decent profile is a must.

FAQ5. Is online MBA expensive?
Ans. Online MBA programs in India are affordable. However, online courses offered by top universities like CMU are as expensive as their full-time MBA counterparts.

FAQ6. Does online MBA offers specializations?
Ans. Yes. Online MBA offers a variety of specializations such as:

  1. Healthcare Management
  2. Business Management
  3. Entrepreneurship
  4. Retail
  5. Banking & Financial Management
  6. Insurance Management
  7. Hospitality Management
  8. Travel & Tourism
  9. Media & Advertisement
  10. Rural & Agribusiness
  11. Operations Management
  12. Marketing Strategy
  13. Human Resource Management
  14. Supply Chain Management

Stay informed, Stay ahead and stay inspired with MBA Rendezvous