Innovation and technological advancements in the last decade have notably changed businesses. Likewise, the requirements of modern workplaces have also changed. An ever-increasing number of employers are keen on hiring fresh talent in leadership and executive roles. As a result, the demand for MBA courses has also skyrocketed.
However, the prices for a two-year in-person MBA course from an accredited institution would cost up to Rs 40 lakhs. Although the return on investment is quite high, it is equally uncertain. Moreover, one would forgo his salary for the first few years. Due to this, while people still desire MBA, one must weigh the economics of their specific situation.
Another option that one may consider is an online MBA. Specifically, due to economic reasons, online MBAs are gaining popularity. In fact, the Graduate Management Admission Report (2018) showcases a 36% increase in enrolments in online MBA and only a 24% increase in offline MBA.
Will the quality of an online MBA live up to an offline one?
Yes. The academic structure, faculty, and alumni networks are the same for full-time, part-time, and online MBA. Moreover, online programs are designed to accommodate students from various backgrounds. This will allow you to build networks with people from all over the world.
But won’t I be losing the on-campus experience?
With live classes, conferences, group projects, career fairs, and online discussions, institutions have bridged the gap between on-campus and off-campus experience. Moreover, most institutions provide on-campus weeks where you can physically meet the faculty as well as the students and get a true feel of the campus.
Does that mean I can study anywhere and at any time?
Personalized and flexible time schedules allow you to study at whatever time that suits you and from anywhere. All you will need is an electronic device and a reliable network. Pre-recorded lectures and 24/7 active chat forums let you learn at your own pace and at your own time. An online program is specifically convenient if you are working with zero opportunity cost.
What about examinations?
Online MBA means online examination. However, they are usually ‘open-book’ tests. They encourage testing your practical understanding rather than rote learning. Along with the final examination, regular assignments are a part of the course where you will be required to meet the specified deadlines.
So, should I go for it?
Absolutely! Here is a list of the top 20 colleges and institutions in India that you can enrol at and begin your online MBA journey.
| NO. | COLLEGE/INSTITUTE |
| 1. | Sikkim Manipal University of Distance Education |
| 2. | Symbiosis Centre for Distance Learning (SCDL) |
| 3. | Indira Gandhi National Open University (IGNOU) |
| 4. | IIM Ahmedabad |
| 5. | IIM Calcutta |
| 6. | IIM Lucknow |
| 7. | ICFAI University |
| 8. | Narsee Monjee Institute of Management Studies: (NMIMS) |
| 9. | Institute of Management Technology |
| 10. | Amity School of Distance Learning |
| 11. | Annamalai University |
| 12. | Yashwantrao Chavan Maharashtra Open University |
| 13. | Management Development Institute |
| 14. | MIT Pune |
| 15. | Indian School of Business (ISB) |
| 16. | Rai University |
| 17. | Indian Institute of Finance |
| 18. | Bharati Vidyapeeth’s Institute of Management & Research |
| 19. | Jaipur National University |
| 20. | Osmania University |
