Online education has been gaining in momentum over the last few years especially now when more leading business schools are stepping in to offer online degrees. Nowadays, business schools have multiple programs when it comes to MBA. While more options are always better, but it can be an overwhelming task for students while sorting out through various options in order to select the best MBA program for them. Moreover, with the emergence of online MBA programs, it begs the question - Can online MBA compete with the traditional MBA programs?
Pros of online MBA programs-
1. Flexible scheduling
Are you looking to study an MBA while being employed? In such cases, an online MBA program may be the best option for working professionals. Such type of remote learning allows you to manage your study time with work and family commitments.
2. Budget friendliness
There are several budgetary benefits related to online MBA programs. Due to the low operating costs of online MBA programs compared to conventional programs, tuition fees are usually lower. That means you’re getting the same degree with all the benefits of a conventional MBA program at a lower price.
3. Same curriculum in different format
While the information is distributed differently in an online MBA program, the curriculum is aligned with what you’d learn in a classroom. In other words, you’re getting the same education but just in a more convenient format.
4. Accelerated program
Most conventional MBA programs require a full two-year commitment making sure you leave everything except school. While, with that of an accelerated online MBA program, you can easily get off with your degree in less than 12-14 months.
Cons of online MBA programs -
The reputation of a B-School is very important. Accreditation makes sure that your degree gets the respect it deserves, especially for the forthcoming job hunt. Since online MBA is an emerging industry, most of the times, the question arises - ‘Whether my online program is accredited under respectable bodies like AACSB, AMBA, or EQUIS.’
Getting admitted to an ivy-league business school is not only about the curriculum but also about campus life. A large part of a conventional MBA experience is about making connections with your peers, teachers and learning through group discussions and seminars which an online MBA program fails at large.
3. Career services
Online MBA programs offer much less versatility in case of career services. Most of the conventional MBA programs in college has campus recruitment programs which make up for a better placement experience than that offered by online degrees.
4. Isolating experience
An online MBA program can be an isolating experience irrespective of online forums and discussion groups when compared to the overall experience a student has in a conventional MBA program.
Final thoughts -
An online MBA degree may reduce the cost of study to a level but it requires a high-speed internet connection and a high-performance computer. Also, make sure you do your due diligence all around while researching for online MBA degrees so that you understand the program you’re enlisting for. Check out all the features before applying for an online MBA degree. Make sure to check the fees, financial support, faculty and placement support before applying for any online MBA program.