The booming growth of businesses has led to universities offering courses in management. Among all the courses in Business Management, the most popular is an MBA. One of the most widely pursued courses, the MBA has a greater appeal when it comes to business education. Every year thousands of companies worldwide recruit business graduates for the top positions and the ones who graduated from the top business schools are given preference. Many countries in the world are known for offering comprehensive courses in MBA. Students see an MBA degree as an investment which is why some of them wish to pursue an MBA in the UK as the country is known to have the best business schools to offer world-class education while some pursue an MBA in the USA for the close links to the top recruitment companies. But to cater to the rising demand for business professionals and with an aim to make education accessible to everyone, universities have started offering online MBA programs.
This Blog Includes
- What is an Online MBA?
- Why Choose an Online MBA?
- Is an Online MBA Recognized?
- How Can You Choose a Great Online MBA Course?
- How Much Does an Online MBA Cost?
- Top 6 Institutes for Online MBAs
- Career Prospects
What is an Online MBA?
Like its offline counterpart, an online MBA is an internationally recognized postgraduate degree that focuses on the development of necessary skills required for careers in business. The students pursuing the degree develop an understanding of the field and learn the skills like strategic decision-making to boost businesses. The course is taught using modern age Information and Communication technologies. Using teleconferencing and learning platforms like Blackboard or Moodle, the course is delivered completely online.
The coursework of the online degree program is similar to that of an offline one which includes Accounting, Finance, Marketing, Management, Business Law and Economics. Besides, the programs, depending on the institutions may offer specializations in Entrepreneurship, Management Information Systems and Business Analytics. Varying in purposes, the MBA degree can be tailored for freshly graduated students or business executives who seek to give their professional skillset a power boost.
Usually, the degree requires working experience of 2-5 years but if the candidate shows maturity in business-related decision-making and considerable understanding of the core concepts of the field, relaxation can be given. Whether pursuing an online MBA in India or abroad, it is pertinent to look for the core contents that are taught in the course.
Why Choose an Online MBA?
Earlier, pursuing an MBA was a great deal owing to the expenses it would incur and the travel to other countries made it more complicated. Those wishing to restart their career or further their education in the field had no choice but to put their jobs on halt or relocate. To encourage professionals and students to take up education at their own ease, universities have taken an initiative to meet the challenge. Online MBAs like other distance programs are asynchronous, which means that you can choose the time of your convenience to take the classes. The assignments are delivered through the online account which can be submitted anytime before the set deadline.
The beauty of the online degree is that you can choose to carry on with your job and family without having to move to another country while studying the course. You can access an abundance of study resources available online from anywhere in the world which makes your learning more independent. The cost efficiency and the comfort of home with a leading class curriculum make it the best choice for students wishing to make their career in management.
Also Read: Everything You Need to Know About MBA Specializations
Is an Online MBA Recognized?
The question about the validity of the online MBA program is often debated, but it solely depends on the university or business school that offers it. If the degree is offered by top business schools, it is globally recognized. The coursework is similar to the offline counterpart of it except for the daily face-to-face interactions with the professors. There is very less or no difference in the syllabus between the offline and the online degrees.
How Can You Choose a Great Online MBA Course?
Here are a couple of tips you need to remember to choose the perfect online MBA course:
- Focus on accreditations and approvals
- Pay close attention to program fees as well as return on investment
- Consider industry exposure
How Much Does an Online MBA Cost?
The cost of an MBA pursued online depends on the university which offers it. For public universities, the cost of an MBA is as low as $5000 while for the top business schools, it can go up to $6000. At some business schools, campus visits are important, for which some of them may charge an extra fee while others cover it in their tuition fee. It is advisable to look for the fee details on the university pages.
Top 6 Institutes for Online MBAs
Based on various parameters like course flexibility, duration, recognition, course fee and the ranking of the university, some of the best institutions offering online MBA programs are as follows:
Founded in 1992 by entrepreneur Yoshito Hori as a single marketing course in a small rented classroom in Tokyo, the GLOBIS has flourished to become the largest business school in Japan with nearly 120,000 business professionals till 2019. Becoming Asia’s first live business classroom, GLOBIS offers a two-year online MBA program with all classes held in real-time using video conferencing software. The students from diverse geographical and cultural backgrounds get to interact with each other. One of the finest part-time MBA providers, the school allows a maximum of 25 students in the class to monitor feedback and make the class more interactive. The course is taught in the English language and students have the option to combine the online course with on-campus studies in Tokyo. The course is expandable for up to 5 years and the recording option is there if a student misses a lecture.
|Application||Two years of working experience and an English test score is required for admission at the GLOBIS|
IE Business School
Ranked 1st by QS in 2019, IE Business School is a global leader in offering online MBA programs. With over 15 years of experience, the school has an unmatched reputation for producing leaders and influencers in the field of business. With an unbeatable record of alumni recruitments in top companies like Amazon, Coca-Cola, Mitsubishi etc, the school’s Global Online MBA is a challenging career booster. Located in Spain, the school offers a 17-month immersive online program in business management. Laying out the foundations of business, the course is aimed at equipping students digitally to push them to disrupt traditional business models. The course is designed to provide a diverse learning experience and a customizable environment that mirrors the latest market developments. The course asks students to have a minimum of 3 years of work experience.
|Application||The business school requires a valid GMAT score for admission which is followed by a personal interview on Skype.|
|Fee||51,200€*Note: The fee is revised every year, so it is liable to change.|
AGSM Business School
The business school placed 39th rank in the top QS Global MBA ranking in 2019. One of the best business schools in the country and around the world, the University of New South Wales’ AGSM Business School is reputed for providing the best online MBA program. The program offers a unique blend of commercial business development and lets you choose a specialization area: Technology, Change, Finance or Social Impact. A great choice for professionals who want to power up their skills in the field. To seek admission for the course, you need to have a minimum of 2 years of working experience or demonstrate a mature understanding of business management. The course offers an asynchronous curriculum and allows you to access your lectures and study material anytime.
|Application||To meet the eligibility criteria for the program, a candidate needs to have a valid GMAT score and meet the English language criteria.|
Warwick Business School
Those looking for a way to accelerate their career and increase their business knowledge without stepping out of their work, then one of the leading business schools of the world, Warwick Business School of the University of Warwick offers a comprehensive MBA program to meet the needs. Ranked 1st in providing the best online MBA program, the course allows students to immerse into the realm of advanced business management. Spanning over 2 years, the business school provides ongoing support after the commencement of the program. Besides the standard business concepts, the course focuses on Leadership, Operations Management, Economics of the Business Environment, Accounting & Financial Management, etc. The course is delivered online but two-week face-to-face interaction at the UK’s Warwick School is central to the program. The course requires at least 4 years of working experience.
|Application||A valid GMAT score and an English proficiency test are required to take up the course.|
University of North Carolina at Chapel Hill
In the list of top universities of the world, the QS ranking puts the University of North Carolina in 83rd number. One of the oldest universities in the US, the university offers one of the most comprehensive MBA programs in the world with a focus on finance, data analytics and decision-making, entrepreneurship, marketing, and strategy and consulting. Maintaining a 15:1 student-teacher ratio, the program focuses on the complete development of the student. Focusing on the core aspects like Accounting for Managers, Business Ethics, Decision Analysis, Management Communication, Marketing, Operations Management, etc. the students are prepared for the global marketplace. Even though it offers an online MBA, the students need to complete a minimum of two in-person summits during their time in the program which will help them to explore opportunities for leadership, development and job options. The course can be completed in 16, 24 or 36 months at the convenience of the student.
|Application||A valid GMAT or a GRE score is mandatory for candidates to take up the course. A minimum of two years of full-time experience is required apart from the language proficiency test score.|
University of Florida
Ranked among the top universities in the US and the world by QS, the University of Florida has started online education since 1999 with an online MBA program in three formats: fully online, one-year hybrid, or two-year hybrid. The course has been designed to allow maximum learning experience to the students with minimal interruption to their professional careers. The standard asynchronous degree can be completed in 24 months with students spending 15 hours a week on coursework. Delivered completely online, campus visits are not required.
|Application||Applicants are required to have a minimum of 2 years of full-time experience as a prerequisite. A valid GMAT or GRE score is also required.|
The career prospects of both the offline and online MBA are similar but their purposes can vary. While an offline MBA is pursued to study business management in detail, the online counterpart of it is usually pursued to gain a further understanding of the field. But the career prospects solely depend on the institute you pursue your degree program. If you take up a course from the leading business schools, your opportunities of landing a high-earning job are enhanced.
Some of the job roles you can find yourself eligible for after the completion of the online MBA program includes:
- Investment Banker
- Management Consultant
- Financial Adviser
- Operations Manager
- Financial Manager
- Investment Banker
- Investment Fund Manager
- Sales Manager
- Marketing Manager
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When you choose online MBA courses, you will be able to bag high-paying job offers
The course might prove hard, but you will be able to complete it with ease if you follow your study materials.
The fees of the online MBA course will depend on the university you’re choosing.
Online MBAs are a great way to reinforce your resume while applying for a job or simply to gain knowledge of the subject at your own convenience. You may enlist the assistance of Leverage Edu specialists to assist you with the application process so that you can realise your goals. Call us immediately at 1800 57 2000 for a free 30-minute counselling session.