Among B-school aspirants, the prospect of an online MBA has seriously emerged only in 2020. Before that, a regular MBA was preferred, even if it was in distance mode.
The world opened up to the idea of an online after lockdowns became a common thing during the Covid 19 pandemic. Now, an online MBA can offer you more value than a regular MBA.
At the forefront of this evolution are the global Ed-tech firms offering a plethora of online professional degrees to Indian students. They bring in global collaborations, giving Indian students the opportunity of getting accreditations from top universities in the West.
For instance, the online MBA program in Upgrad is offered in collaboration with Harvard Business School. This is undoubtedly of more value than doing an MBA in any tier II or tier III institutes in India.
What about industry exposure in online MBAs
It is true that without proper industry exposure, an MBA degree doesn’t have much value. With online MBA, there’s a natural concern that industry exposure cannot be guaranteed.
But is that the right assessment of online MBAs? Let’s find out.
- There is no impact on opportunities
In top online MBA courses in India, internships and part-time opportunities come as naturally as it does in other colleges. Just like in any other college, while you do the MBA, the college will set you up for different internship opportunities.
In fact, since the course is online and flexible, you can spend a lot of time doing internships. In fact, some people even do full-time jobs while pursuing an online MBA making it a good opportunity to learn while you are earning as well.
- Reduces your costs by nearly 50%
The cost of an online MBA will be only half of a regular MBA. First of all, most top MBA colleges are located in big cities, and unless you live in one, you will have to inevitably move. You will have the option to move to hostels, where it’s a little less expensive.
Otherwise, renting an apartment will cost you quite a bit of money. With online MBA, there’s no such hassle to deal with. You complete the course from wherever you live, only move during internships. It will save you almost 50% of the total cost you will incur in a regular MBA.
A better ROI over regular MBA
The simple fact that an online MBA costs 50% less is proof that it offers better ROI to students. By ROI, we mean Return on Investment – it’s the cost you incur while doing a course, vis-a-vis the salary you get in a job after placement.
Besides, the fact that you can also work during an online MBA means you will have a robust portfolio of experiences during placement. It’s something regular MBA students can’t even think of as it will compromise their learning goals at college.
When you have better experience, it means that you will be a cut above the rest in terms of salary during placement. You won’t exactly be a fresher, and so you can even get scouted for top executive positions in the industry.
Top places to get an online MBA from
There are many Indian and foreign Ed-tech companies offering online MBA programs today. Tier I and Tier II Indian institutes have collaborated with Ed-tech firms and brought their teaching experience and quality into the courses.
Colleges abroad have also come in this network, as discussed before. Overall, the aspirants of online MBA have a lot of options to choose from.
Let’s look at some of the popular ones briefly.
- Upgrad online MBA in collaboration with Harvard Business School
- Coursera in collaboration with the University of Illinois
- Amity University Online MBA Program
- Coursera in collaboration with OP Jindal University
- Edex online MBA in collaboration with Boston University
As you can see, an online MBA has the potential to offer a lot more than a regular MBA. However, you need to be very proactive and focused if you want to achieve a lot from your online MBA degree.
A lot depends on your own effort and merit and you have to be self-driven to achieve something practical here. If you’re someone who needs to be prodded by your professors all the time, then an online MBA might not be the right idea for you.