A master of business administration (MBA) is one of, if not the most respected and highly sought after qualifications in the business world today. One of the best things about this qualification is that not only does it cover all the core areas of running, managing and growing a business, but it also allows students to branch out and study elective, specialized areas of business that interest them the most and are most aligned with their interests, skills, and experience. And, since it is a qualification that is recognized all over the world, graduates can be sure to find several lucrative career opportunities worldwide. Today, there are more opportunities than ever when it comes to gaining an MBA online. But, is it worth the investment? We’ve weighed up the pros and cons of an online MBA.
#1. Pro: Flexible Schedule:
For many students, online study is a very appealing option since it offers a highly flexible, self-led schedule. Studying online means that you can do so from your home or another place of your choosing, and you are able to study at times that you choose to, rather than having to work around a class timetable and make adjustments to your regular routine in order to fit everything in. This is ideal for students who already have several full-time commitments. It can easily fit around a full-time career, allowing you to continue earning the standard of income that you are used to and continue providing for your family in the same way. If you’re working full-time or even running your own business, studying online is much easier to fit around your schedule, rather than having to find the time to attend set lectures and classes.
#2. Pro: Save Money:
There’s no doubt that the earning potential of studying for an MBA greatly outweighs the tuition fees, even if you are going down the traditional classroom route. However, the option to save money on tuition fees and finish up in less debt is always attractive. And if you are a low-income student or are unable to get financial aid to help you cover the cost of getting your MBA, studying online can be the best way to achieve the same results but at a fraction of the cost. And, since most MBA students have already earned their undergraduate degree, it makes sense for them to opt for cheaper tuition fees to minimize their student debt. Online MBA programs are priced at around one-third cheaper than their classroom-based counterparts, making them one of the best ways to get the qualification you need without racking up tons of debt.
#3. Con: Less Networking and Social Aspect:
On the flip side, studying for an MBA can be tricky for students who like to socialize and meet new people since these opportunities are scarce compared to studying in a classroom environment. Since you won’t be based at the campus and will be predominantly studying from home, there will be less opportunity to meet professors, fellow students, and others face to face. However, this isn’t to say that you will need to isolate yourself as an online student. In fact, many online students have seen the need to socialize and network with others, and there are several ways in which you can also do this online, such as forums and social media groups. Being part of these groups allows you to socialize online and take advantage of regular meet-up plans. For example, if you’re studying for an online MBA California, you can meet up with fellow online students in your area.
#4. Con: It’s a Huge Responsibility:
As if studying for an MBA wasn’t big enough of a commitment to start with, another downside is that you’ll need to prepare to take on a massive amount of responsibility. Whilst you will have daily access to tutors and professors who you will be able to contact for help and guidance when needed, the bulk of the work will be self-led and you’ll need to be ready to take charge of your own schedule. Procrastination is not an option when you’re studying online; you’ll need to commit to study times in the same way you would if attending physical classes. It’ll be down to you to come up with and stick to a solid study timetable, manage your time, and seek help when needed. Remember that you will still need to work towards meeting assignment deadlines and revising for exams just as you would with a classroom-based degree.
Whilst it does have some drawbacks, the option to study for an MBA online has revolutionized the way in which students get this qualification.