Is an Online MBA Worth It ?

An online MBA is a type of master’s degree in business administration that can be completed entirely through the internet. Online MBA programs have become increasingly popular in recent years, especially among working professionals who want to advance their careers without quitting their jobs or relocating. But is an online MBA worth it? What are the pros and cons of pursuing this degree online? How do employers view online MBA graduates? In this article, we will explore these questions and help you decide if an online MBA is right for you.

Pros of online MBA

• Flexibility: One of the main advantages of online MBA programs is that they offer flexibility and convenience for students. You can study at your own pace, schedule, and location, as long as you have a reliable internet connection and a compatible device. You can also balance your studies with your work, family, and personal commitments, without having to sacrifice one for the other. Online MBA programs often have multiple start dates and durations, allowing you to choose the one that suits your needs and goals.
• Cost-efficiency: Another benefit of online MBA programs is that they tend to be more cost-efficient than traditional on-campus programs. Online MBA programs usually have lower tuition fees, as well as reduced costs for travel, accommodation, books, and other expenses. Some online MBA programs also offer scholarships, grants, loans, and other financial aid options to help students afford their education. Additionally, online MBA students can continue working while studying, which can help them earn income and avoid debt.
• Accreditation: Online MBA programs are not inferior to on-campus programs in terms of quality and credibility. Many online MBA programs are affiliated with reputable and accredited business schools, which means they meet the same academic standards and learning outcomes as their on-campus counterparts. Online MBA programs also undergo rigorous evaluation and review by external agencies, such as the Association to Advance Collegiate Schools of Business (AACSB), the Accreditation Council for Business Schools and Programs (ACBSP), or the International Accreditation Council for Business Education (IACBE). These accreditations ensure that online MBA programs deliver relevant, current, and effective business education to their students.
• Networking: Online MBA programs do not limit your networking opportunities with peers, faculty, and industry experts. On the contrary, online MBA programs can expand your network beyond geographical boundaries, as you can interact with students and instructors from different countries, cultures, and backgrounds. Online MBA programs often use various platforms and tools to facilitate communication and collaboration among students and faculty, such as discussion forums, video conferencing, social media, email, etc. Some online MBA programs also offer optional residencies, workshops, or study abroad trips that allow students to meet face-to-face and network in person.

Cons of online MBA

• Lack of campus experience: One of the main disadvantages of online MBA programs is that you will miss out on the campus experience that on-campus programs offer. Campus experience refers to the social, cultural, and academic aspects of studying at a physical location with other students and faculty. Campus experience can enhance your learning experience by exposing you to diverse perspectives, ideas, and experiences. Campus experience can also foster a sense of community, belonging, and support among students and faculty. Online MBA programs may not be able to replicate these benefits fully through virtual means.
• Study balance with other commitments: Another challenge of online MBA programs is that you will have to balance your studies with your other commitments, such as work, family, or personal life. While online MBA programs offer flexibility and convenience for students, they also require self-discipline, time management, and motivation from students. You will have to set your own goals, deadlines, and priorities, as well as manage your own workload and pace. You will also have to deal with potential distractions or interruptions from your environment or responsibilities. Online MBA programs may not be suitable for students who prefer more structure, guidance, or accountability from their instructors or peers.
• Longer time: Another drawback of online MBA programs is that they may take longer to complete than on-campus programs. Online MBA programs typically have a part-time format that allows students to study at a slower pace while working or fulfilling other obligations. However, this also means that online MBA students may take more time to finish their degree than on-campus students who study full-time. Online MBA programs may take anywhere from 18 months to 5 years to complete depending on the program’s length, curriculum, and requirements. On-campus MBA programs usually take 1 to 2 years to complete.
• Technology cost: Another downside of online MBA programs is that they require technology cost from students. Technology cost refers to the expenses associated with acquiring and maintaining the necessary devices, software, and internet connection for online learning. Online MBA students will need a computer, laptop, tablet, or smartphone that can run the online learning platforms and tools used by their program. They will also need a reliable and fast internet connection that can support video streaming, downloading, and uploading of large files. Online MBA students may also need to purchase or subscribe to certain software or applications that are required for their courses. These technology costs can add up over time and increase the overall cost of online MBA programs.

Employer outlook on online MBA

One of the most common concerns of online MBA students is how employers view their degree. Will employers value an online MBA as much as an on-campus MBA? Will employers recognize and respect the online MBA program and school that I graduated from? Will employers question the quality and credibility of my online MBA education?

The good news is that employers’ perception of online MBA programs has improved significantly over the years, thanks to the advancement of technology and the proliferation of reputable and accredited online MBA programs. According to a survey by GMAC, 83% of employers plan to hire MBA graduates in 2020, and 40% of them are open to hiring graduates from online MBA programs. Moreover, 62% of employers agree that online MBA programs are equally as good as on-campus programs, and 50% of them do not differentiate between the two when making hiring decisions.

However, this does not mean that employers do not have any preferences or expectations when it comes to online MBA graduates. Employers still look for certain criteria and indicators when evaluating online MBA candidates, such as:

• The reputation and accreditation of the online MBA program and school
• The curriculum and learning outcomes of the online MBA program
• The academic performance and achievements of the online MBA graduate
• The work experience and skills of the online MBA graduate
• The career goals and fit of the online MBA graduate

Therefore, if you want to impress potential employers with your online MBA degree, you should:

• Choose an online MBA program and school that are reputable and accredited by recognized agencies
• Choose an online MBA program that aligns with your career interests and aspirations
• Complete your online MBA program with excellence and distinction
• Showcase your work experience and skills that are relevant and valuable for your desired position
• Demonstrate your passion and enthusiasm for your chosen field and industry

Conclusion

An online MBA is a worthwhile investment for many business professionals who want to advance their careers without compromising their current lifestyle or responsibilities. Online MBA programs offer many benefits, such as flexibility, cost-efficiency, accreditation, and networking opportunities. However, online MBA programs also have some drawbacks, such as lack of campus experience, study balance with other commitments, longer time, and technology cost. Moreover, online MBA programs may not be equally valued by all employers, who may have different preferences and expectations when hiring online MBA graduates.

Therefore, before you decide to pursue an online MBA, you should weigh the pros and cons carefully and consider your personal and professional goals, needs, and preferences. You should also research different online MBA programs and schools thoroughly and compare their features, benefits, costs, and outcomes. By doing so, you can find the best online MBA program for you and make the most out of your online learning experience.

Sources:

^Ad1: Advantages and Disadvantages of Online MBA Course – Careers360 ²: Online MBA vs. In-Person MBA | BestColleges ³: Online MBA vs Traditional; Pros, Cons, Employer Outlook – The Quantic Blog