- CHAPTER 1 - The Basics of the MBA Degree
- CHAPTER 2 - Choosing an MBA Program
- CHAPTER 3 - MBA Accreditation
- CHAPTER 4 - Getting into an MBA Program
- CHAPTER 5 - Inside the MBA Program
- CHAPTER 6 - Paying for your MBA
- CHAPTER 7 - Life After Graduation
Why an Online MBA?
An MBA can offer many advantages, including a boost in salary, skill enhancement, networking opportunities, and career advancement potential.
An MBA can offer many advantages, including a boost in salary, skill enhancement, networking opportunities, and career advancement potential. Promotion into senior management roles, especially in fields like investment banking, often requires an MBA. However, ambitious students often face hurdles with traditional campus-based MBA programs. Balancing work and personal life may not mesh with the on-campus schedule and commute time required for in-person class attendance. Furthermore, full-time on-campus programs typically take two years to complete. If work and other responsibilities prevent you from attending a traditional on-campus program, an online MBA may be the way to go. Some schools offer accelerated programs and coursework waivers to experienced professionals, providing opportunities to complete the degree in as little as one year. Our ranking of the top online MBA programs can help you explore your options.
What is an Online MBA?
Both respected and internationally recognized, online MBA programs focus on developing the knowledge and skills necessary for careers in business. MBA students study big-picture thinking, core aspects of business management, and strategic decision-making. Core coursework for the MBA includes accounting, finance, marketing, management, economics, and business law. Specializations include business analytics, international business, entrepreneurship, management information systems, and real estate. Students typically acquire two to five years of work experience before entering an MBA program, with graduates commonly working in consulting, operations, marketing, and finance.
Online MBA programs often present a more cost-effective alternative to on-campus programs, even when tuition rates are identical.
An online MBA offers the same rigorous curriculum as its on-campus counterpart. Instructors simply tailor coursework to online platforms. Technology permits location-independent study, opening a variety of attractive educational options for prospective students. A distance MBA offers an opportunity to attend out of state schools without the expense and hassle of relocation and permits you to set your own pace of study.
Considering the potential savings on costs, such as relocation, childcare, and transportation, online MBA programs often present a more cost-effective alternative to on-campus programs, even when tuition rates are identical. Some schools also offer a hybrid MBA option, blending online study periods with coursework or short intensives requiring in-person attendance. Duke University offers a well known example. Its global executive MBA program combines immersive one to two week residencies in selected cities with longer periods of MBA distance learning.
Online MBA Delivery
Schools conduct coursework for online MBA programs through learning management systems (LMS) — software platforms like Blackboard or Moodle where instructors administer course sites with material for enrolled students to access. The framework of LMS integrates tools and cloud-based services, such as lecture capture, text chat windows, streaming video, audio discussion forums, web conferencing, and interactive video. Students often access textbooks in electronic form through LMS, with options to listen to voice recordings of the textbook material. Instructors handle assignments through LMS, and students submit completed work within the platform, minimizing reliance on email. This may involve submitting recorded presentations or delivering them live through a webcam. Instructors can enable class conversations and allow comments within a specific assignment, so relevant discussions can be easily located for reference.
While you may view pre-recorded (asynchronous) lectures anytime, interactive classroom sessions — also known as collaborate sessions — require real-time attendance and interaction among students and instructors. Synchronous meeting participants receive a URL and connect through Blackboard to join the meeting and may raise a virtual hand to ask a question anytime.
Exam delivery methods include testing centers, virtual testing services, and timed open-book quizzes. Special fees may apply for proctoring services. Instructors may elect to grade tests and assignments given through LMS automatically or manually. Some instructors prioritize asynchronous communication to accommodate students in different time zones or divide group assignments into chunks, enabling individualized completion.
How Does a Cohort Work in an Online MBA Program?
A cohort model involves students who progress through the same MBA program and curriculum together in a shared learning process and graduate as a group. Students are grouped according to similar career goals and aptitudes. Cohorts help establish the important career-building network of connections that can help you succeed after graduation. Benefits of cohort learning include teamwork, sharing of resources, an emphasis on collaboration over competition, and an ongoing sense of community support. Without a cohort, you select courses independently of other students and encounter a different group of students in each class. Online MBA programs may facilitate cohorts throughout the full course of study by establishing diversity of gender, background, nationality, and work experience. Schools also enlist second-year cohort students to provide peer assessments and coaching support to first-year cohorts. Some schools even offer short on-campus residencies for cohort team-building.
How Long Does it Take to get an MBA Online?
On average, an online MBA degree involves two years of study and 30-55 credits to graduate, while some programs allow up to six years for degree completion.
On average, an online MBA degree involves two years of study and 30-55 credits to graduate, while some programs allow up to six years for degree completion. Accelerated intensive programs at some schools permit eligible students with business backgrounds to bypass foundation courses and complete the MBA online in just over a year of full-time study. Cohort learning programs in accelerated formats can also shorten the time to completion of your degree. Some programs require internships, which would unnecessarily extend the time of completion for a professional seeking an MBA as a springboard for a promotion. Depending on your course load, you may find a route to graduate ahead of schedule by completing more credits. A typical course load for an online MBA is one three-credit core course at a time over a five-week period, but some programs offer opportunities to complete six or more credits per term.
How Much do Online MBA Programs Cost?
While tuition rates are identical for many online MBA degrees and their on-campus counterparts, online programs can offer other cost-saving benefits, including fewer resource fees, lower transportation costs, and the opportunity to pay in-state tuition regardless of geographic location. State-subsidized public schools usually cost less than private ones, though private schools often offer attractive financial aid packages. The prestige of a school also affects the cost of your degree. MBAs from ivy league schools generally come with hefty ivy league price tags. The table below shows the wide range of tuition costs for all schools in our online MBA database.
Tuition Breakdown for all Schools in OMBA’s Database
Benefits of Pursuing an MBA Online
With flexibility and easily accessible resources, students in online MBA programs enjoy a host of benefits both during study and after graduation, making online programs much more attractive to many students than traditional on-campus programs. The following list details some of the most widely recognized benefits of pursuing an online MBA.
The ability to access online lectures and other study materials anywhere can make an enormous difference to your success. You can choose the best study locations to suit your learning style, and you can carry on your MBA studies through job transfers, relocation, travel, or other life changes without missing deadlines.
Flexibility means you can work your studies around your existing schedule, rather than the other way around. If you’re a quick study, for example, you can leverage this advantage to complete your online MBA degree sooner. On the other hand, some schools offer up to five years to complete the degree.
Interested in a school that intersperses short international field study residencies with longer periods of online study? Looking for a dual-degree option, or a rare specialization? No longer are you limited by your state of residence. With an online MBA you can choose a program without regard to geographic limitations.
By design, online MBA programs — especially those focused on globalization and international business — offer a multitude of opportunities to network with fellow students around the world from different backgrounds. If you thrive in a diverse environment, but reside in a location without much diversity, studying online can be a huge benefit.
Online programs offer easy access to syllabi, reading lists, textbooks, assignments, and announcements in digital format, freeing you from worry about misplaced, lost, or forgotten study materials. Many students also find that online formats offer opportunities for class discussions with fewer interruptions, increasing the likelihood that all students may be heard.
From career services to corporate recruiter networks, on-campus resources are available to online students as readily as they are to on-campus students. Whether you need advice from the writing center, technical support, or a copy of your transcript from the registrar, you can expect your online program to provide equal access.
Are Online MBA Programs Respected?
Resistance to online learning lingers in some circles. However, many signs indicate growth in mainstream acceptance of online educations, such as the fact that enrollment in online MBA degree programs has increased. The Graduate Management Admission Council reports, “For the second year in a row, a majority of online MBA programs (57%) report increases in their application volumes, up from 50% of programs that reported growth in 2015”. Similarly, The Economist reports increases in application volumes, with one school’s application intake for the online MBA program quadrupling since its inception in 2015.
The Association to Advance Collegiate Schools of Business remains the gold standard for the accreditation of business programs, with strict requirements applicable to all business programs that receive their stamp of approval. Online programs boast the same curriculum caliber, rigorous admissions process, and distinguished faculty students expect in on-campus MBA programs. As online degrees continue to proliferate, and public perception continues to shift, you can expect lingering resistance to dissipate.
Traits of Successful Online MBA Students
- Self Discipline
Self discipline is perhaps the most essential trait of successful online MBA students. MBA programs require both initiative and follow-through, as your cohort relies on you to keep current with reading, assignments, and schedules.
- Time Management
Online MBA students need advanced time management skills to ensure they meet deadlines. Can you work your studies into a busy schedule of personal and professional obligations?
Students need to ensure that distractions don’t derail their focus. Successful students not only demonstrate the ability to concentrate for long periods of time, but also enjoy regular access to quiet environments that help them absorb information effectively..
- People Skills and Networking
Without the convenience of a classroom space, students typically find it is even more critical to cultivate strong networking skills for success. Successful online MBA students take a proactive approach to developing positive peer relationships and effective communication with instructors and fellow students.
A standout trait of entrepreneurs and MBA students is perseverance. One exceptionally difficult class may be a struggle, but motivated students know that it need not derail them from their educational goals. Successful students keep going, even in the face of obstacles and discouragement.
- Problem Solving
Whether juggling a hectic schedule or working through an exam question, problem solving abilities serve you well.
In-depth Interview with an MBA Graduate
Lynda PeraltaMBA, George Washington University, 2017 Connect on LinkedIn
Q: What made you consider an MBA?
Q: What was your application process like? What was the most challenging or unexpected thing about applying to an MBA program?
Q: How was your overall experience in your program? What was your favorite thing? The most challenging?
Q: How was your experience towards the end of your program? Did you have to complete a capstone project? If so, was this difficult? Do you feel like it added to your overall experience? Did your school help with internships and job placement?
School did help with internships and job placements, but everyone had a different experience. My career coach helped me prepare for a career fair, and I landed an internship that way. But when it came to full-time work, I told her early on that I was pursuing entrepreneurship so she hung back.
Q: How has life been after graduation as an MBA? Do you feel your MBA has added to your job prospects?
Is an Online MBA Worth it?
Whether seeking a mid-career salary boost, a larger professional network, or a job promotion, you may still be wondering if an online MBA is right for you. The attractive benefits offered through online MBA programs include diverse networking opportunities, an expanded choice of schools, and the flexibility to customize your academic schedule around other responsibilities.
Matching your needs and skills to the right program is key for success. An online MBA can expand your options, position you for career advancement, develop a global business perspective, and improve credibility with business peers, ranking it among the most valuable degrees for career advancement. An online MBA degree can offer the chance to earn a respected credential that distinguishes self-driven business professionals, without uprooting your life or putting your career on hold.