The advantages and disadvantages of an online MBA degree.

 

Today's prospective business school students have more options than ever for an MBA. However, while the choice is always a good thing, it can also be overwhelming - especially when trying to sort through the options to find the best program. With online MBAs becoming increasingly prevalent, it begs the question: Can they really compete with traditional programs? Let's take a closer look at the advantages and disadvantages of an online MBA degree.

ADVANTAGES

Today's online MBA programs are very different from years past. Increasingly sophisticated technology and the resulting "erosion" of geographic boundaries have changed the landscape of higher education. As a result of these changes, today's online business schools offer a number of attractive benefits, including the following:

1. Same education through a different format

While information is delivered differently in online MBA programs, the general curriculum is aligned with what you learn in a traditional classroom setting. In other words, students receive the same education through a different, more convenient format.

As it turns out, freedom from the limitations of a traditional classroom can actually facilitate the learning process. US According to an online education system administrator in the U.S., "There is increasing evidence that the quality of online learning outcomes – how students take tests – is actually better than face-to-face instruction."

One particular reason why online MBA programs and their graduates are so successful is that the opportunities for real-world learning are plentiful. While students in traditional MBA programs can do most of their education from case studies, online MBA students have many opportunities to apply their newfound knowledge and skills in real business settings. The ongoing process of applying the principles into practice is a key management development technique.

2. Unprecedented Flexibility

In a "bricks and mortar" MBA program, there is no flexibility. Classes take place on a predetermined day at a predetermined time. Unfortunately, this can close doors for non-traditional students, such as those holding full-time jobs or raising families. In online programs, students are placed similarly to students in traditional programs, but they enjoy the flexibility to tailor those expectations to their individual schedule and needs.

3. Reliability Matters

As recently as 20 years ago, online business degrees were stigmatized by students and employers alike. However, times have changed drastically, and with them the perceptions about online MBAs have changed.

In fact, in our increasingly tech-centric world, online MBAs demonstrate a sought-after familiarity with technology. Factor in the demand for qualified business leaders with these skills, and the benefits of an online MBA become even more apparent.

4. Budget Friendly

There are many budgetary benefits associated with an online MBA program. Due to their comparatively low operating costs versus traditional programs, tuition fees are generally low. This means that you get exactly the same degree and all the benefits of that degree at a much lower cost. If that isn't already practicing smart business sense, what is?

Additionally, students have increased flexibility when it comes to payment schedules. For example, by choosing a longer course of study, your monthly payments become more affordable. Not only are these lower payments easier for budget-minded students, but they can also be more attractive to employers looking to sponsor some or all of your continuing education.

Of course, just like not all traditional MBA programs are created equal, and neither are all online MBAs. Practicing due diligence can help you find a school that is best for offering online education.

 

DISADVANTAGES

However, there are some additional factors to consider before pursuing an online MBA program. Let's take a closer look at a couple of potential pitfalls of online learning.

1. It can be an isolating experience

Any business school graduate will tell you that business school is not just about curriculum, but also about experience. A big part of this is the connections made throughout the program. In some cases, finding this same experience in an online program can be a challenge – especially in the case of schools that still rely on traditional platforms, such as Blackboard and Moodle, in which the flow of information can be more unidirectional.

In other cases, however, programs provide built-in opportunities for student collaboration and communication. In fact, schools like Imperial that offer bespoke online learning programs really shine when it comes to providing an integrated and immersive experience through their "hubs". Meanwhile, a commitment to modern, mobile technology means opportunities for engagement and interaction galore.

Before deciding on an online MBA program, be sure to see what your potential schools fall into in terms of developing relationships between students.

Of course, it is not only the interactions that matter, but also how rich they are in terms of promoting dialogue and the exchange of information. The international community is just the beginning when it comes to diversity. As many online MBA students grow up and have been in the workforce for longer, they provide a particularly valuable approach that may otherwise be missing in a traditional classroom setting.

2. It may take longer

While some physical MBA programs can be completed in as little as one year, online MBAs typically take longer – especially if you are meeting commitments other than school.

While a shorter program can be financially beneficial, it can also result in an accelerated experience. Can you really learn everything you need to learn to be a business leader in less than 12 months? Many employers feel that the answer to this question is an unfortunate "no." In other words, while online programs may take longer, they are also likely to be more comprehensive.

Additionally, some experts also believe that the online environment allows students to more thoroughly capture and retain information, due to the fact that they can work at their own pace while battling questions, leading to correct understanding.