In fact, within the past year alone, the University of Maryland’s Smith School of Business boosted enrollment in its online MBA program by 151% to 369 students from only 147 a year ago. The University of North Carolina’s Kenan-Flagler graduate school saw a 78% jump in enrollment to 1,862 students from 1,047 a year earlier.
When U.S. News published its ranking of online MBA programs last month, it ranked nearly 270 different online MBA programs, up from 180 in 2017. which doesn’t include all the web MBA programs available within the world. The result: Though a rapidly growing segment of the management education market, the web MBA category has already become crowded and commoditized.
And yet, more options are appearing monthly. In July of this year, Rice University’s Jones grad school of Business will welcome the primary cohort in a web MBA program it’s launching with 2U, a publicly traded online education provider. UC-Davis’ grad school of Management are going to be next. the varsity signed a contract with 2U in November and hopes to urge its online option off the bottom next year. Davis’ new program are going to be the primary online MBA degree offered within the 10-campus University of California system.
What’s behind their popularity? For one thing, you do not need to quit employment you have already got to urge your MBA. a web option provides maximum flexibility for a student. If you’re a road warrior, who is usually traveling for work, you’ll do your classwork and assignments from anywhere, including an airplane equipped with Wifi or a bedroom .
For another, most online MBA programs are often completed in an accelerated fashion in as little as 18 months otherwise you can opened up the beat variety of years. That flexibility allows a student to figure around both personal and professional commitments. If you’re on a challenging assignment at work or close to have a neonate , you’ll ease abreast of your studies for a particular period of your time .
Unlike part-time MBA programs that always require you to take a seat during a class for a few of nights every week , you do not need to commute to an actual location and be physically present anywhere. For years, part-timers have had to grind through classes after work loaded abreast of caffeine to remain alert. they’re also more likely to waive a uniform test requirement like the GMAT or GRE. and eventually , because you’re already employed, you’ll be ready to cash in of a corporation decide to pay a minimum of a part of your education.
“More people do online programs because they don’t want to prevent their careers and quit their jobs,” says Ramesh Venkataraman, chair of Indiana University’s Kelley Direct MBA & MS programs. “They do perfectly fine and like their companies. therefore the quality of scholars in these programs is sort of high. These programs are here to remain and that they are literally getting to be a really viable alternative to the full-time programs.”
What’s more, the satisfaction levels of online MBA programs are quite high. PoetsandQuants recently surveyed graduates of those programs and asked them whether or not they would recommend the program they completed to friends or relatives. On a scale of 1 to 10 , with ten reflecting the foremost enthusiastic recommendation possible, graduates gave their programs a mean score of 9.22. Carnegie Mellon’s blended online MBA program had an ideal score of 10.0, while the programs at Ohio University, University of Massachusetts at Amherst, Indiana Kelley and Lehigh University all scored between 9.8 and 9.7.
What does one hand over in a web MBA program? You just about sacrifice what most part-time MBA students have given up for several years: the sense of camaraderie that exists among a cohort of like-minded students who are effectively cohabitation for 2 years. that point creates enduring bonds among students that ultimately make an alumni network valuable over the future .
But you furthermore may mainly sacrifice job opportunities. At any quality full-time residential MBA program, there are on-campus presentations from corporate recruiters, on-campus interviews with potential employers, and an endless stream of job opportunities, particularly at the higher schools. That pipeline is essentially nonexistent in a web MBA program, mainly because the scholars have already got jobs but also because employers are less wanting to hire MBAs from online programs. Another issue is that online MBA graduates are often older and out of doors the standard hiring window for MBA candidates.
Still, many graduates of online MBA programs are reporting positive outcomes immediately after getting their degrees. At Indiana University’s Kelley School of Business, for instance , online graduates are reporting average salary increases of 29% over their pre-MBA pay. At the University of North Carolina’s Kenan-Flagler graduate school , 76% percent of online students have received promotions or started new jobs while within the program. Students there also average 29% salary increases over their pre-MBA pay levels by graduation.
If you would like to travel the web route, you would like to try to to your homework. That’s because online programs home in price from $128,000 to $16,800 and vary greatly in terms of what you get. Some are purely online, with no face-to-face sessions. Others add residence weeks on-campus, live weekly classes, global immersion trips and consulting projects with corporate clients requiring live presentations. Some schools provide full access to their career management centers, even including one-on-one executive coaching.
“They all have slightly different models, and it’s important for college kids to know the differences and whether or not they will get direct access to school and classmates and a customized degree experience,” explains Robert Damon, dean of Carnegie Mellon’s Tepper School of Business. “For some which will not be important.”
A good place to start out , just to urge a way of how one program compares to a different may be a ranking. PoetsandQuants just published its debut ranking of online MBA options, an inventory with 25 of the absolute best programs within the U.S. the highest four programs so as are at the business schools at Carnegie Mellon, Indiana University, University of Florida, and therefore the University of Texas at Dallas. like all ranking, it includes a wealth of knowledge on admission standards, program features, along side the time takes to urge an MBA from a faculty .
Bottom Line: If you cannot quit your job and need an MBA degree, a web option may be a great opportunity to try to to it on some time .