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Why Online MBA is a Good Option
With technology advancing at dizzying speeds, we’ve found out that even the COVID 19 pandemic has been unable to hold us back when it comes to the field of education. Where before, it was a requirement that students be present physically to take classes and earn their degrees, nowadays the same can be achieved online without much hassle. Aspiring degree holders can now get their MBA online; all they need to do is research into the options available to them.
If you’ve all but decided that an online MBA is the right choice for you, then you’ve come to the right place for guidance. We’ve collated an extensive list of pros and cons and pruned it down to the essential ones you need to be looking at.
What Exactly Is an Online MBA?
An online MBA is exactly what it sounds like. It’s an MBA program offered by a university or college, where the students can attend classes, seminars etc. via videos. Classes are commonly a mix of live lectures and video recordings, as well as assessments which students can finish on their own time. This means the student can attend coursework no matter where they are as there is no physical classroom present.
First off, online MBA programs are internationally recognised and well-respected. They aim at advancing the skills and knowledge required for a career in business. MBA students learn big-picture thinking, as well as the core aspects of managing a business, in addition to strategic decision making.
Core coursework includes finance, accounting, management, marketing, business law, and economics. There are also specialisations you can opt for, which may include international business, business analytics, entrepreneurship, real estate, and management information systems. It’s typical for students to get 2 to 5 years’ worth of work experience before they enter the MBA program, and graduates commonly work in operations, consulting, finance, and marketing.
Top Advantages of Getting an Online MBA
Is getting an online MBA worth it? Before deciding whether an online MBA is good or bad for you, there are a few points to be well aware of. We’ve compiled a list of things you should know before you decide to enrol (or don’t).
· Flexible schedule: This ranks top among the advantages of online MBA. You can keep working full-time while doing what it takes to obtain your MBA degree, thanks to what technology enables students and colleges to do these days. Most programs tailor their courses keeping working professionals in mind, which means aspirants get to enjoy incredible levels of flexibility. Even the schedules are set out in such a way as not to hinder holiday seasons – classes end well before any major holiday starts. And full-time professionals aren’t the only ones that stand to benefit from such an option; it’s very convenient for people who need to juggle getting their MBA with a myriad of other responsibilities. This includes people with full-time family obligations such as taking care of children.
· No commute time: This is another one of the finer benefits of online MBA: there is no need to spend money or time on commuting. Your time and money are precious, and how you spend the two heavily impacts the kind of life you get to live. Where a traditional MBA student would have to get themselves to campus for classes each week, an online MBA student can learn from the comfort of their home. For the former, the commute time could run into multiple hours round-trip based on how far from the university they live. To add to that, they would also in cases need to dish out for bus fares, gas, or parking. Compared to that, online MBA students can access coursework, lectures, and real-time sessions from any place that has Wi-Fi. The entire world is like a classroom to them – they could study in their home office, at a coffee shop, or even at the airport.
· Rising school options: A traditional MBA program would typically require you to attend a specific college or university, which in turn may necessitate relocating just to be near the place where you study. Conversely, many aspirants get offered programs close to home but have to settle for subpar courses. Moreover, it’s not on the cards for most working professionals to move away from their working setup, or for family people to uproot themselves in a similar way. The online MBA option, meanwhile, lets you attend classes at any college or university in the world. There are thousands of stellar programs available, and the number of these keeps going up each year. That means there is no dearth of options when it comes to picking out something that suits you.
· Diversity: Universities offering MBA programs around the globe are making sure to take on students from all over. On-campus classes offer a lot of diversity when it comes to peers, sure; but this is easily surpassed by what an online MBA program can offer, which is a virtual classroom without walls. You get to interact with people from all religions, races, beliefs, genders, backgrounds, and lifestyles. Your classmates would come from multiple work environments, work experience levels, undergraduate majors, etc. They would also come from more than one industry type, including financial services, real estate, technology, manufacturing, healthcare, engineering, etc.
· Lower cost: It always bears mentioning that getting a decent MBA degree is by no means cheap. When you compare traditional and online MBA programs, the cost per credit hour is usually the same. However, with the former, you’d typically also need to spend money in terms of transportation, time off from work, childcare, and even relocation. That means the overall cost surrounding an online MBA is much lower overall than a traditional MBA.
· Efficiency: MBA graduates have a respectable degree to their name, tend to be ultra-competitive right from when they start working post-MBA, are highly coveted by prominent employers, and can achieve better job security. People pursuing an MBA usually take on responsibilities, are driven in nature, are skilled multitaskers, and consider their time to be of high value. Getting an MBA online is often considered a step towards obtaining a leadership role in the current organisation or moving to a new one. This often means using your time wisely and gaining both the required education and the experience you need to climb up the ladder. An online MBA program facilitates all this, by fitting itself to the working professional and to people who have full-time obligations.
· Better writing skills: It’s essential to excel in a business environment where you can communicate ideas, thoughts, and plans in written format. Any UG or PG course would aim to develop these skills within the student, but none more so than an online MBA program. If you’ve asked yourself, “is online MBA worth it?” at least once, the previous sentence should partially answer that question. You can come out on the other side able to communicate effectively, clearly, and professionally through messaging, email, written documents, presentations, etc. The main benefit of this is that people will form a good impression of you the first time that you get in touch with them, paving the way towards getting hired or promoted.
· Learn through your own style: Every person is unique in one way or another, and that includes the way they learn new things. There is more than one way to learn, and most people unconsciously adopt a combination of these learning techniques when it comes to imbibing new concepts. Online MBA programs differ vastly from each other, and this means you get the chance to pick one that suits your long-term goal. Some are entirely online, and others are set up in a hybrid form that combines online and offline elements.
If you’ve read this far, you’re probably in the market for an online MBA program that will catapult you to success. At any rate, your main takeaway from this post should be that online MBA programs are highly suited to people who are too short on either time or money, or both, to get a traditional MBA.