Is an online MBA worth it? the return on your investment
Is an online MBA worth it? the return on your investment,Jan 20, 2024
Online MBA Programs
Jan 20, 2024
Before expanding a lot of your hard-earned money on any MBA program, you may once wondered, if spending that much money will be worth it. There are many answers to this question, but one of the most accurate ones is to calculate your return on investment by subtracting your projected return after graduation from the total cost invested.
A Survey conducted by the Graduate Management Admission Council (GMAC) in 2022 found that approximately 87% of MBA graduates felt their investment paid off, and 68% agreed that their degree improved their chances of advancing in their careers. The basic salary an individual gets after a full-time MBA graduate is around $124,000, according to the survey. But this number fluctuates based on your industry and function.
Individuals gaining an MBA equips them with the abilities required to get into management. Additionally, they gain proficiency in other business domains such as finance, human resources, and marketing. Both online and traditional MBA programs are available. Candidates pursuing an Online MBA program will be more efficient for them as they can save money on transportation expenses and work while attending classes. In this blog post, we will cover all the advantages, disadvantages, and other factors of obtaining an MBA online.
Benefits of an Online MBA
The online MBA program is a two-year-long integrated postgraduate program that equips students with Managerial skills in their desired fields. The online mode of learning enables students whether they are fresh graduates, international students who are looking to step into the ever-evolving domains of an Online MBA program or they are full-time working professionals looking for career advancement in their specific fields. The flexible mode of online learning allows individuals to access quality education and attain their higher business education without disrupting their personal and professional commitments from anywhere and anytime at their convenience.
The top accreditation bodies the All India Council of Technical Education (AICTE), the University Grants Commission (UGC), and The Distance Education Board (DEB) have granted their recognition along with approval from the government of India made the online MBA program one of the most chosen courses among student community around the globe.
Additionally, several trailblazing universities around the nation offer online MBA courses in different specializations such as Finance, HR, Information Technology, Business Analytics, Machine Learning and Artificial Intelligence, Management, and more. Students enrolling in an Online MBA program do not have to visit the campus in person, they can achieve their Online MBA degree while sitting at their homes, they just have an Internet-enabled laptop or mobile device on which they can take online classes, submit assignments, or can take exams while sitting at their places.
Comparison between Online MBA and Traditional MBA
|Offline (In-person) classes
|Online mode of learning provides high flexibility
|Online study material can be accessed anywhere anytime
|To access study material, the physical appearance of students is required.
|Online mode of learning enables students to build connections worldwide
|Students will get extensive in-person networking opportunities.
|Students will learn from esteemed faculty members through live online and interactive classes.
|Students can easily interact with faculty members and peers in face-to-face interactive classes.
|Online MBA is more affordable than the traditional one.
|The tuition fees of a traditional MBA program will be quite expensive and will also contain additional living expenses.
|Same as the Traditional MBA
|Candidate should have completed their undergraduate degree from any recognized university
|2 years to 4 years
|Work Experience Requirements
|Some programs might require candidates to hold a professional working experience for a considerable amount of time
|Traditional MBA typically follows a structured schedule
|Approvals from accrediting bodies including AICTE, UGC, and DEB make the course worldwide valid.
|Well-established, widely recognized, and respected.
How to choose an Online MBA program?
Selecting the right online MBA program is itself a daunting decision that can significantly impact students’ careers. With an array of options available, considerations such as program accreditation, faculty expertise, flexibility, and networking opportunities become paramount. This guide provides important information to help students navigate the selection process and find an online MBA program that aligns with their professional aspirations.Other Types of MBA
|Online Global MBA
|MBA Distance Education
|Online MBA for Working Professionals
|MBA Dual Specialisation online
Popular Specializations of Online/ Distance MBA
Other Online Executive MBAs in Demand
Demanding Online/Distance MBA Dual Specializations
After completing an online MBA degree, individuals have a myriad of job opportunities. However, some of them are mentioned below:
1. Business Consultant
2. Financial Analyst
3. Marketing Manager
4. Operations Manager
5. Human Resources Manager
6. Management Analyst
7. Investment Banker
8. Entrepreneur/Small Business Owner
9. Supply Chain Manager
10. Project Manager
11. Product Manager
12. Data Analyst/ Business Intelligence Analyst
13. Corporate Strategist
14. Management Consultant
15. IT Manager
16. Healthcare Administrator
17. Nonprofit Manager
18. Risk Manager
19. Real Estate Manager
20. Business Development Manager, and more.
1. McKinsey & Company
2. Bain & Company
3. The Boston Consulting Group (BCG)
4. Goldman Sachs
5. JPMorgan Chase & Co.
6. Morgan Stanley
9. Procter & Gamble (P&G)
10. General Electric (GE)
13. Johnson & Johnson
Also Read: Top 5 online /Distance MBA Colleges for working professionals in 2024
Frequently Asked Queries
A1.Yes, the University Grants Commission (UGC) has granted its approval to the Online MBA course making the program one of the most sought-after educational programs among the students’ community including among working professionals around the world.
A2. Generally, The online MBA degree program is a two-year long master's degree program. However, several universities allow students to attain their degrees at their convenience with a window of 1-2 years more. I.e., they allow students to complete their degrees in 4 years maximum.