Technological advances have revolutionised the way we communicate, learn, and conduct business in the modern world. With the advent of online classes, students have greater flexibility over their study schedules and resources. Major universities across the globe offer online degrees, including online MBA options which are becoming increasingly popular among students. This article gives you all the benefits of pursuing an online MBA along with its challenges.
Benefits of online MBA
Online MBA programs today incorporate all the features of a traditional MBA degree with added advantages of affordability and flexibility. Major business schools around the globe offer several appealing benefits.
- Unparalleled flexibility: In a traditional MBA program, classes take place according to a pre-set schedules. Such programs close their doors to students with schedule constraints such as a job or raising a family. Online MBAs offer unmatched flexibility in class schedules. Students can study at their convenience and still meet the educational requirements.
- Unconventional learning: While students in conventional management programs receive most of their knowledge through case studies, students enrolled in online programs learn by applying theoretical knowledge in real-life business challenges. This is true, especially in the case of students who work in permanent positions while studying.
- Similarity with a conventional setup: The typical curriculum of an online program is similar to a traditional structure but with the information is distributed differently. This helps ensure the quality and integrity of the online MBAs.
- Easy affordability: A significant challenge associated with conventional MBAs are the exorbitant tuition fees associated with them. This makes it difficult for students, especially from lower economic backgrounds, to afford them. Because of their lower operational costs, online MBA programs can offer lower tuition fees without compromising on the quality of education. It’s possible to find online programs that cost as less as $12,000 a year. Another upside to online programs is the flexibility of retaining a full-time job in addition to studying.
- Access to online study materials: These programs incorporate cutting-edge technology to make available all the relevant educational tools at the disposal of their students. Many schools maintain online platforms with high-quality educational resources such as online tutorials by industry experts that can be accessed by students anywhere anytime.
- Student Diversity: Because a larger pool of students can access online programs as compared to conventional management programs, they have students coming from varied ethnic and economic backgrounds. Such diversity helps the students in networking and establishing long-term professional and personal relationships with each other.
Challenges of online MBA degrees
While the popularity of online MBAs has risen over recent years, there remain problems that plague these programs.
- Ambiguity among employers: Online MBAs are yet to replace mainstream management programs. Many employers are reluctant to hire people who have graduated from these programs. This bias affects the employment options for online MBA graduates.
- On-campus placement opportunities: Full-time programs offer visits from recruiters, interviews with potential employers, and other job opportunities. This pipeline is missing in online programs as many programs don’t provide no such placement or networking opportunities.
- A robust alumni network: Conventional setups offer the chance to establish a cohort of like-minded individuals who form strong bonds, create a vast alumni network. Such a network is excellent for career growth, job-related help, and other favors in the future. Since most online program students never meet each other, they are unable to create a strong network over the long term.
Online MBA programmes are a boon for people who wish to pursue a management degree, but can’t due to a lack of time or resources. They make management education accessible to the general population. These options have gained traction today than ever before.