Is it worth doing an online MBA in 2024? Advantages and disadvantages
Is it worth doing an online MBA in 2024? Advantages and disadvantages
Online MBA is a 2-year program, providing flexibility and convenience to the student by allowing them to learn at their own pace virtually without attending the university in person.
Online MBA is just like traditional MBA, providing the same expectations that a student has from a traditional MBA. The only difference is that students don’t need to go to college, and working professionals can manage their studies hand in hand.
To pursue an online MBA, students should know the basic details of what it is, if they are eligible or not, whether it aligns with their goals, and whether they should opt for it. Below are some basic details of an online MBA:
| Features | Details |
| Course Name | Online MBA |
| Course Level | Post Graduation |
| Duration | 1–2 years |
| Eligibility Criteria | Undergrad with a minimum 50% score
Work experience can be requested by some colleges. |
| Entrance Exams | CAT, XAT, MAT, SNAP, and GMAT |
| Admission Process | Entrance test-based |
| Course Fee | INR 50,000–INR 20 lakh |
| Top Specializations | Finance, human resources, marketing, operations, etc. |
| Top Online MBA Colleges | Indian Institute of Management(s), NMIMS, BITS Pilani, Symbiosis, etc. |
Advantages of Online MBA 2024:
Convenience: online learning means you just need your device and the internet, and you can sit anywhere anytime to learn your course or program. In online mba, you need to do the same; you can learn mba courses at your own pace at any time, anywhere. Whether you are working or not able to move from one location to another, you can opt for an online MBA.
Budget-friendly: pursuing a PG degree can cost you a lot, but in an online MBA, the tuition fees are far less than in a traditional MBA. You also save extra money by cutting off your expenses like hostel accommodation or travel. It will be cost-effective for the student who wants to spend less.
Network building: in your virtual classroom, many students or working professionals from different states or countries will enroll in this program, which offers a diverse classroom experience for students, which helps you connect with them, enhancing your networking.
There are no boundaries within the countries; whether you sit at the north pole of the earth and want to do the online MBA from the south pole, you can still do it. Any institute that is offering this program can join with their eligibility criteria and learn the program by sitting in your state or country.
Self-paced: Students will be provided with the learning materials. They can learn the online materials at their own pace, within the specified deadlines. It is convenient for the students, as some want to complete it fast and some want to do it later.
Disadvantages of an online MBA in 2024:
Lacking campus experience: College life is the best experience one can ever get. In an online MBA, you will miss the in-person experience you may get in a traditional MBA. In a traditional MBA, you will get knowledge as well as experience, but in an offline you will get the knowledge as well as in a traditional one, but you may miss out on the experience.
Procrastination: You might procrastinate on tasks if you do an online MBA as well as are working in a job. You might feel deviated and end up procrastinating on the study task. You will avoid prioritizing your studies in front of your job.
Distractions: If you are not self-disciplined, this online MBA is not for you!. Without in-person classes, students may find it difficult to focus on the course and get easily distracted. Online learning’s biggest disadvantage is being easily manipulated by the notifications and ending up seeing other social media platforms rather than learning.
Technological problems: Technological issues such as connectivity problems and technical glitches may disrupt your studies in between your learning, and students might get frustrated.
Less connection with the college: in an online MBA, you don’t meet your faculty, peers, or alumni regularly. You find it difficult to know what exactly is going on in the current scenario at the college.
Specializations offered by the online MBA colleges:
Online MBA programs are getting more and more popular than in the past. After COVID-19, the popularity has been demanded more by the students. With the growing demand, the specialization of this course is also expanding. Here is a list of some specializations offered in an online MBA:
| General Management | Marketing | Human Resource Management |
| International Business | Operations Management | Information Technology |
| Finance | Business Analytics | Project Management |
| Supply Chain Management | Entrepreneurship and leadership | Retail Management |
| Banking and Finance | International Finance | Hospital and Healthcare Management |
| Quality Management | Event Management | E-Commerce |
| Business Intelligence and Analytics | HR Analytics | Digital Entrepreneurship |
| Applied Finance | Retail Banking | Integrated Marketing |
Some of the popular courses offered in an online MBA are:
- Finance: This specialization deals with financial management, investment, corporate finance, and financial markets.
- Human resources: in this specialization, students managed to learn about employee training and development, compensation benefits, and managing organizational behaviors.
- Marketing: Marketing focuses on sales, consumer behavior, branding, and digital marketing.
- Operations: This subject covers supply chain management, quality control, and project management.
- Healthcare management: it is for the healthcare sector, where students learn how to manage the healthcare industry. They cover topics like healthcare policy, healthcare finance, healthcare marketing, and many more.
It is really worth it in 2024.
Doing an online MBA in 24 hours completely depends on personal goals, aspirations, and personal circumstances. If you are the one who doesn’t want to invest more money in traditional mba and wants the same curriculum as traditional mba, you can go for online mba in 2024. A working professional who wants to upgrade their resume by doing an MBA but doesn’t want to quit the job can also opt for this particular program with their desired specialization. Doing a job and mba hand in hand will expand your knowledge as well as job opportunities.
Students who are freshmen but don’t want to go for the traditional MBA can opt for it because online MBA has good advantages that help you the same as traditional MBA.
Students who want to pursue the program should completely evaluate the program and the colleges according to their priorities, career goals, and learning style. If your learning style is to be in a chill environment and study at your own pace, you can select this program.
As the world and market are evolving digitally, online MBA is also coming to the same level as traditional MBA. It can be a great opportunity for the students who plan for this course.
Things to keep in mind while selecting an online MBA in 2024:
- Look at whether the institution is accredited or not.
- Check the college rankings, program rankings, etc.
- Check the curriculum and specialization which the college offered.
- Look for faculties, their qualifications, and their teaching methods.
- Ensure scheduled flexibility, duration, etc.
- Inquire about the fees and financial aid
- Admission requirements are also necessary as some colleges have criteria asking for work experience.
- Check their past placement records
- Connect with the alumni
- See does the college provide global opportunities .
Career options after an online MBA:
Students can opt for an online MBA with their desired specialization. Here are some career options for the student with their chosen branches to achieve their goal.
| Career Path | MBA Specialization |
| Product manager | Product management |
| Supply Chain Program Manager | Supply chain management |
| Marketing Manager | Marketing |
| Project manager | Project management |
| Sales Manager | Sales and Marketing |
| Operations Manager | Operations Management |
| Finance Manager | Finance |
| Financial Analyst | Finance |
| Investment Banker | Finance |
| HR Manager | Human Resources Management |
| Brand Manager | Marketing |
| Healthcare Administrator | Healthcare Management |
| Clinical Research Manager | Healthcare Management |
