Once a joke in the MBA universe, the online MBA has come of age.
Getting an MBA used to be a two choice option: full time or part time. Now, there are so many versions of the MBA degree, it’s almost hard to keep up. Add to that all the new MBA alternatives, such as MSM, MiM and of course just a good, old-fashioned Masters degree in Finance, Accounting, Marketing or even Data Analytics, and it gets really overwhelming.
Our digital age has legitimized online degrees.
In most cases, there is no difference at all on the diploma you receive nor what you see on resumes, so unless an employer asks explicitly, there is literally no distinguishing someone who earns their degree in person or online. Even background checks will not reveal how a degree was obtained, only verifies whether you have the credential or not. This is good news for those who for whatever reason either choose to get their degree online or must do so for some other reason.
Just like in-person degrees, the online MBA choice is about the granting institution.
While the online MBA has become a perfectly acceptable choice professionally, the overall quality and reputation of the degree will be connected to the school from which you obtain it, just like all the traditional MBA degrees. You should choose a school the same way you would have chosen a school if you were going in person---look at the rankings and reputation and also figure out the kinds of recruiters, employers and internships that commonly associate with the students and graduates. The one exception to this is school culture. The online degree experience is clearly not comparable culture-wise to what you experience on campus. Even online degrees which have a portion of the requirement on campus, you just won’t get enough time with your fellow classmates to really get a sense of personality or culture within the program like you would have if you had gone traditionally.
Expect the cost to be more.
That’s right, often the online version of a degree can be even more expensive than the in-degree one. This is not always the case, but some schools have figured out that students are willing to pay a premium for the convenience, and like EMBA programs, they know that most participants are working full time and have the extra disposable cash to spend.
Most of the top schools do not offer an online-only option.
If your hopes are to ever get a Harvard MBA online, don’t hold your breath. Top schools still rely heavily on the benefits of a cohort-driven, in-person MBA program. While there are schools in the top 20 with online programs, the bulk still rely on the time-tested tradition of the on-campus MBA degree. Unfortunately for MBA seekers, applying and getting accepted to the top online programs is often just as hard or harder than going the traditional route.
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