Is studying an online MBA worth it?
Meghdeep Patnaik | February 28, 2019
Today, the world is more digitally advanced than ever and can be accessed with just a click. Taking cue from this, universities and institutes have started rolling out online programs to help students across the world to avail quality education.
MBA (Master of Business Administration) is a globally-recognized graduate degree designed to develop business and management skills. The credibility of a traditional MBA ranks high; let’s find out if the same can be said for an online MBA.
An online graduate MBA degree entails all the course features of a regular MBA degree, except that it is pursued via a laptop or computer.
What are the benefits of an online MBA program?
Many professionals today are resorting to online MBA programs in order to make it easier to pursue while working. Taking an online graduate MBA program has its own set of benefits. Let’s take a look.
- Work-life balance: an online MBA benefits working professionals to a great extent, owing to the fact that it is flexible. You do not need to put your career on hold in the hopes of getting a traditional full-time MBA. You can take advantage of all the normal educational facilities through a full-time online MBA such as the study materials and tutorials, at any time, from anywhere. This can help you strike the perfect balance between work and personal obligations.
- Access to world-class education: many premium institutions, including UCW, offer full-time online MBA programs to students who cannot pursue traditional programs with the institution. This gives the students access to world-class education from any part of the world.
- Full-time/part-time: you can choose to take a full-time or part-time online degree, depending on the amount of time you are able to invest. Working professionals might find it difficult to pursue a full-time online program, owing to their professional responsibilities. To make it easier for them, part-time online MBA programs are in place.
- Global networking: an online MBA facilitates community engagement, in which, you can interact with professionals from across the globe. You can share ideas, which you might be doing in a coffee shop if it was a traditional program. However, the advantage here is that you will be interacting with international counterparts, who come from different walks of life and cultures.
- Expert access: just like on-campus programs, online programs also have expert faculty working to help you get the best training and impart essential knowledge. So you will have access to the best faculty in the world, helping you realize your dream of becoming a management professional.
What is the value of an online MBA?
Gone are the days when online education was considered less credible than traditional education. Today, online education holds equal credibility, provided it is pursued from a globally-recognized institute.
In recent years, online education has broken the conventional norms of education, by offering quality education, better career prospects and ease of education.
The online MBA has risen above all the contemporary programs to ace the online education dynamics. In fact, according to the website “geteducated”, it is the most popular online graduate degree. An online MBA allows working professionals to carve out a career in their free time, without having to give up on their current responsibilities.
According to a survey conducted by US News Data, 91% of students who enrol for online MBA programs are already employed. This suggests that already working professionals add value to their résumé by pursuing an additional online program. This alone is a huge benefit for what the true value of an online MBA is in today’s fast-paced world.
Who should opt for an online MBA?
The online MBA option is ideal for working individuals who do not wish to pause their careers in order to pursue further education. The eligibility criteria for enrolling into an online MBA program is:
- Bachelor’s degree awarded by a recognized university, with a CGPA of 3.00 (on a 4.33 scale) or better, and
- Acceptable GMAT or GRE score that has been appeared for in the last five years, or
- Bachelor’s Degree in Business Administration (BBA) or Commerce (B.Com) or equivalent, or
- At least two years of documented professional or management experience with evidence of career progression and relevant education and/or training.
What are the career prospects after a full-time online MBA degree?
The value of an online MBA cannot be disregarded, neither can the career prospects it offers. Here are some sectors you can work in after pursuing an online graduate MBA degree.
- Finance: the finance sector comprises of the firms that provide financial services to commercial and retail customers. Banks, real estate, investment funds, and insurance companies are all a part of the finance sector of an economy.
- Operations and Project Management: this is an important aspect of any business as all organizations require operations and project management professionals to supervise the progress and smooth functioning of business operations and projects.
- Technology Management: technology-driven organizations need professionals who can manage their technological fundamentals in order to create a competitive advantage.
- Entrepreneurship: management principles are applicable even when you are setting up your own business. Entrepreneurs with a management degree are known to set up successful businesses, with a well-drafted plan of action.
- Fashion Industry: fashion businesses are the new thing today. Many fashion enthusiasts are pursuing management degrees to go achieve their dream of becoming a fashion entrepreneur. This adds value to their work, as it equips them with organizational skills that are critical to their business.
- Human Resource (HR): human resources is vital to the functioning of any organization. Since the HR department is responsible for many of the organizational functions, it is natural that a management degree is imperative for human resource professionals.
- Business Development: this department of an organization is responsible for generating leads and enhancing sales for an organization’s products and services. Since business development is a critical function to the growth of any business, management professionals are preferred to assume this role.
At institutions such as UCW, the online MBA syllabus, is the same as the on-campus program. This works to the benefit of the students in terms of credibility. Online MBAs are preferred by many working professionals. They are flexible, provide a platform for networking and global interaction, and provide good career prospects.
Many institutes have tapped into the potential of online education and made it readily accessible for students from across the globe. This has not only helped working professionals pursue higher education alongside their careers, but also made it easier to succeed for students who want to pursue distance education. One of the top universities offering an online MBA program is University Canada West (UCW). An added advantage of pursuing an online MBA with UCW is that the program structure for the online program is the same as the on-campus program. You can read more about the program structure here.