Our globe is progressing online. With the quality and widespread growth of higher education, people are choosing management courses to have an upscale professional growth.
The choices for the courses have also increased manifold. Students and professionals alike are opting for management courses because of various reasons. Some plan to get the industry insights on building a knowledge foundation, while some professionals are looking for a change from their passive life.
An MBA can offer many advantages, including a boost in salary, skill enhancement, networking opportunities, and career advancement potential. Promotion into senior management roles, especially in fields like investment banking, often requires an MBA. However, ambitious students often face hurdles with traditional campus-based MBA programs. Balancing work and personal life may not mesh with an on-campus schedule or the commute time required for in-person class attendance. Furthermore, full-time and on-campus programs typically take two years to complete.
If work and other responsibilities prevent you from attending a traditional on-campus program, an online MBA may be the way to go.
Both respected and internationally recognized, online MBA Programs focus on developing the knowledge and skills necessary for careers in business. MBA students study big-picture thinking, core aspects of business management, and strategic decision making. An online MBA offers the same rigorous curriculum as its on-campus counterpart; instructors simply tailor coursework to online platforms. Technology permits location-independent study, opening a variety of attractive educational options for prospective students. A distance-based MBA offers an opportunity to attend out-of-state schools without the expense and hassle of relocation, and it permits you to have more control over your pace of study. For all of you, who ask Why Online MBA?
Flexibility
Many online programs require less time (around 14-18 months) for completion. Online MBA programs have flexible academic schedules, with coursework that allows students to watch live video lessons, answer quizzes, and join discussion forums with classmates anywhere on the globe anytime.
Most business schools require their online students to participate in synchronous learning, for example, through videoconferencing. But, simultaneously, online programs also provide the advantage of asynchronous learning, by which students can study lessons through recorded lectures, message boards, and email.
Online MBA is convenient, particularly for people who can stay up late or rise with the lark. They only need a good computer and reliable connectivity.
Interaction
Critics of the online format say that it loses out on the on-campus experience, with its face-to-face interaction with classmates, professors, and experts.
However, most online programs run by reputed universities bridge this gap through their “meet your class” events, conferences, career fairs, on-campus and international projects, and even “on-campus weeks” to provide students a taste of the campus atmosphere.
It is another myth that online programs don’t offer international exposure. The reach of online programs is such that you are likely to meet international students and professors in teamwork projects.
Chat forums and live, online discussions ensure that you have the advantage of getting to know global business and business players at the click of the mouse.
Quality
The MBA curriculum, faculty, and alumni networking of online programs run by top universities, at least, are comparable to their on-campus counterpart.
The same professors draw from the same curriculum as that of on-campus course, and so little is lost by way of quality of courses and teaching.
Reputation
Good-quality online MBA programs are conducted by reputed universities and business schools. They can, therefore, be highly valued by some recruiters.
The mention of an MBA from a good school is enough to get a foot in the door. Recruiters may still want to know whether you completed your course online or on-campus.
Another advantage of the online format is that you become well-versed in communication technology such as video-conferencing. This equips you to handle high-tech facilities at your future workplace.
You also learn to use technology for effective communication, a must-have in the digital-age corporate scenario.
Cost Saving
Cost is the biggest benefit to an online MBA versus a traditional MBA. An online MBA doesn’t require you to relocate or find housing, saving you potentially thousands of rupees versus a traditional, on-campus MBA. Also, the fact that a lot of online MBA programs are of almost a year, the cost subsequently gets less. The access to library, different labs, and other facilities is also sought of not available in online MBA, as of which a lot of cost cutting happens here.
Enhanced Networking Opportunities
Another benefit of getting an online MBA is instant access to a broader network of professionals composed of students from a variety of backgrounds and locations. Students who earn their degree online aren’t restricted by their proximity to campus and can interact with other working professionals from all over the country and — in many cases — the world.
The collaboration facilitated through an online MBA program, whether in group assignments or real-time discussions, allows students to grow their network with a diverse and accomplished group of peers.
Benefits of pursuing Online MBA program vs. Regular MBA program
Online MBA program
- Study from your home only: Without having to quit your job and compromising on your family needs, you have the luxury of continuing your education in the form of MBA as you can get the same education as any Regular MBA graduate.
- Flexibility: With the Online MBA program you have the flexibility to mould your career needs without relocating for your work or personal reasons.
- Resources: With the top online MBA programs, you will gain access to the same resources which subsumes career counselling, mentorship, and networking opportunities. You will also learn how to move steadily in the fast-paced digital world.
- Affordability: At any given point of time, An Online MBA program is more affordable than any Regular MBA program.
Regular MBA program
- Career change: A Regular MBA provides you the necessary cushion if you are thinking of switching your career. An MBA with a particular specialization makes it convenient for you to move across industries.
- Networking: The social networking that you develop during your academic sessions of Regular MBA will help you in improving your career position in the longer run.
- Entrepreneurship: If you are thinking of starting your own work or business then you can gain required skills and practical knowledge through Regular MBA as it provides you with the hands-on training for dealing with real work business problems.
- Competitive Advantage: A Regular MBA program instil leadership qualities and specialized skills required to excel in your career and gives you competitive advantage over others.
Let's take a Comparative Analysis of both MBAs with the help of a table for better understanding.
|
Basic |
Regular MBA |
Online MBA |
|
Work Load |
Regular MBA students have full-day rigorous schedule which makes it hard for the students to do a job outside the program. |
Online MBA students have the flexibility of adjusting their schedules. |
|
Curriculum |
While doing their core business-basics classes, MBA Students can specialize in areas like Entrepreneurship, Marketing, Finance and they can easily choose when to take a class. Core Classes + Specialization |
Online MBA Curriculum is more or less same as of Regular MBA, if pursued from good B-school. |
|
Cost difference |
Depending on the reputation of the b-school the cost of doing a Regular MBA is somewhere around 15-20 lakhs. |
Cost of doing an online MBA ranges between INR 50,000 to INR 100,000. |
|
Location |
You can take classes at whichever school you get into |
Your location depends on your choice; it could be your home, office or even while travelling; you can attend your classes online. |
|
Lifestyle |
If you are looking for more intensive student experience then you should apply for regular MBA. There are plenty of extracurricular opportunities like fests, groups, communities, student exchange programs etc. in Regular program |
Usually Working professionals choose Online MBA course and they can apply whatever they learn in their classroom at their workplace. Lifestyle is all about balancing your studies with your office operations. |
|
Acceptance rates and requirements |
There is no such requirement like work experience to do regular MBA program and it is a bit easy to enter as there are plenty of b-schools that offer seats for regular MBA program |
Of late Online MBA programs are getting their due recognition both from good b-schools as well as from employers of big corporations. |
|
Student Profile |
Usually students from diverse fields like commerce, science, humanities etc. in the age group of 22- 25 yr olds opt for Regular. They are mostly fresher with 0-1 yr of experience. |
Online MBA program allows student to perform on a platform where there is no need to leave their job. As a result, global professionals living and working around the world are able to enroll in a sound online MBA program. |
|
Duration |
2 years (Fixed) |
Depending on the course requirement, the duration may stretch from 14 months to 2 years. |
Some of the colleges providing Online MBA programs are:
- Amity School of Distance Learning
- NMIMS Global Access School for Continuing Education
- Symbiosis Centre for Distance Learning
- ITM University Online
- Pondicherry University’s Directorate of Distance Education
- Assam Don Bosco University
- Karnataka State Open University
- National Institute of Business Management (NIBM)
Frequently Asked Questions
Q1. What is Online MBA?
Ans. An online Masters in Business Administration (MBA) is a form of distance learning program that uses virtual learning platform or e-learning to impart lessons. All you require is access to active internet connection or ability to reach the city-specific virtual learning centre.
Q2. What is the duration of Online MBA course?
Ans. Based on the duration, the online MBA programmes offered by B-schools can broadly be categorised into:
Long Duration Programmes (LDP), that typically ranges from one to two years
Management Development Programs (MDP), that ranges anywhere between two days to few months. Certificates are awarded at the end of MDPs.
Q3. How to choose the best college for Online MBA?
Ans. Consider the following parameters before selecting an institute for taking MBA admission:
- Accreditation of the institute
- Institute's infrastructure
- Teaching faculty
- Specialization offered
- Past placements records
- Tuition fees
- Industry interface
Stay informed, Stay ahead and stay inspired with MBA Rendezvous