The Internet has lead to a huge increase in the number of distance learning programs available to MBAs. Many well-respected, accredit school have designed Internet MBA programs for students in remote locations or those who can't travel to campus often for class. An online MBA can be a great option for those who can't take time away from their career to attend a traditional program.
Advantages of an online MBA:
- Less time commitment than traditional programs.
- Flexibility to schedule class work around your personal and professional life.
- Ability to attend classes even while traveling.
Disadvantages on an online MBA:
- Limited interaction with classmates. Most people find one of the most rewarding aspects of business school is the life-long friendships. Strong relationships are difficult to form with distance learning.
- Students may not have access to traditional business school services such as career placement.
- Some may find it hard to discipline themselves to study when classes are taught online.
- There have been some less than reputable "schools" offering online MBA programs in recent years. Be sure you understand about the school's accreditation and reputation.
- Some employers may not recognize an online MBA as they would a regular MBA program. Research potential future employers to understand their perception of online MBAs.
Comments
Intel will no longer pay for some MBA courses
On Dec. 5, 2006, the Arizona Republic published an article which stated that computer giant Intel Corporation will no longer pay for business courses taken by its employees at schools which lack accreditation by the Association to Advance Collegiate Schools of Business (AACSB). The University of Phoenix (Phoenix, AZ) and Strayer University (Arlington, VA), both online schools, lack this accreditation. According to the article, other large corporations are expected to follow Intel's lead.
OlgaJay
BS Wayne State University, MEd George Mason University
Regarding employers, I think
Regarding employers, I think the program ranking and accrediation would affect their MBA perception not the delivery method. Regardless, working and going to school requires time management, disapline, and motivation which are all qualities needed for success in business. I am not sure about the "life-long" friendships part as friends can be made any where and making friends should not be the basis of choosing an mba program. Picking the right program depends on many personal and financial factors and your stage in your career and future goals. Personally, I think there are some great online programs out there and are a great option that was not previously available.
Advantages/Disadvantages of online MBA programs
I agree with most of the concerns expressed in the "Disadvantages" section, but I'd like to offer some additional information. I just finished my first semester teaching in the Georgia WebMBA program, and I went into that experience with many of the same concerns about motivation and interaction that were expressed above.
I was pleasantly surprised at what I found. We run our program on a "cohort" basis -- we admit groups of students who begin the program together and stay together throughout the program. We also break each cohort up into teams, and those teams tend to stay together (and work together) throughout all of their classes. The result is a very effective support system for the students. Team members regularly conference with each other online, via cell phones, via text messaging, or using whatever other cutting-edge technologies they find most convenient. The teams work jointly on many of the class projects, help each other study, encourage each other, support each other and generally supply that all-important "interaction" component of an MBA program. I think we've been very successful in this regard, and I'd be glad to e-talk further with anyone who has any questions about how the Georgia WebMBA program operates.
My Online MBA Experience
When it came to an online MBA, I had the same worry of whether employers would recognize it or not. The biggest factor for me was name recognition and accredidation. I knew I could get a degree from the U of Pheonix and Strayer but it would cost me alot, it wouldn't be accredited, and if I wanted to get a PhD, then most schools wouldn't accept the credits.
So I settled on a choice between two programs, Penn State's World Campus, and the Georgia WebMBA program. I ended up going with the Georgia program through Kennesaw State University. The main reason I settled there was that the program was fully accredited, and the price was pretty reasonable @16K total tuition as opposed to 50K total tuition.
My main advice is this...if the school doesn't have dorms, a basketball team, and PhD's from recognizable schools teaching courses...then its probably not worth your time. I worked with a guy who got his MBA from Devry only to find out that our company wouldn't upgrade his education score (weird system that determined promotablility) due to the program's reputation.
Common Perspectives on Online MBAs
There are several assertions I hear often about online MBAs. Even advantages - such as the "less time" mentioned above - are misleading. Any MBA program that is AACSB accredited must demonstrate adequate levels of learning. In the Georgia WebMBA program, for example, our students spend at least as much time for courses as do campus students. In fact, on our program exit assessment, our students score as high as campus program students. “No Significant Difference” is still true – and that achievement does not come through “less time commitment.”
While many of the disadvantages listed are correct, students do not have limited interaction with classmates. Just the opposite is true. Sit in any MBA classroom, then go to the discussion posts and archives for an online MBA and you’ll see that student-to-student interaction is greatly increased – and also enhanced – since written discussions must be thought out, unlike the off-the-cuff comments we get in our classrooms (usually by a handful of students, to the dismay of the other 25). The skills needed to understand, analyze, and apply concepts; communicate that understanding; and work collaboratively to synthesize and develop reports, business plans, recommendations, etc., are among the most sought-after abilities companies seek and consistently tell Business Schools to provide.
Employer support has decreased. With our own program, the percentage of students receiving full or partial tuition reimbursement has dropped from 68% to 56% in recent years. Employer perceptions are changing, however, even though monetary support is dipping. In our recent survey of entering students, about 70% strongly agreed or agreed that they “believe their employer considers an online MBA as equivalent to a campus-based program.”
Other items on which students reported about their employers’ view of online MBAs were not so positive, however.
The good news is that, as Baby boomers such as myself retire out of industry and academia, the newer managers and employees will have grown up with online learning. It will be second-nature. Our “pro” and “con” lists on Web-based MBAs will take on a completely different hue.
Joe Bocchi
Executive Director
Georgia WebMBA