If we were to talk about the online MBA, let’s say, around 10 years ago, no one would have imagined where it would be today. It went from being fairly marginalized to a serious option to possibly becoming as common as the traditional MBA in the near future.
More people are considering an online MBA now more than ever. As a matter of fact, 42% of people who considered part-time studies were also looking at online MBAs according to one recent study, which was up 35% from 4 years earlier. However, the truth is that these are not for everyone, and while they may be a perfect fit for your current lifestyle, there are those for whom the format could be detrimental. Let’s take a look at a few things you should take a look at before you consider one option over the other.
What’s Your Idea of the Perfect College Experience?
For some people, the social aspect of college plays a major part in the whole student experience. You then have those for whom it’s actually a nuisance. For these people, online classes might be a better option.
Online MBAs could be a great choice for introverts or people who have to deal with crippling social anxiety. You also don’t lose the human aspect completely with online classes. As a matter of fact, this could help some open up better to others as they’ll be in a much more comfortable setting.
Studying online doesn’t change the fact that it’s with other actual people, including a teacher, and personal interactions are not only made possible but sometimes easier through online tools. Asking questions to teachers can be done effortlessly and without disruption, and it’s often encouraged. It also eliminates a lot of the awkwardness, fear, or embarrassment of asking certain questions in public.
What are Your Goals?
You also have to have a clear idea of what your goals are before you pick one of the options. For instance, if your goal is to further your education while you run your business or working, there are many benefits to going for an online MBA.
Online MBAs can be taken on your own or on a specific schedule depending on the type of program that you choose. You also won’t have to commute. Many programs allow you to lengthen or shorten the program depending on the workload you can handle.
If your goal is to rub shoulders with some of this country’s future business minds and leaders, or like the incubator aspect of business school, then you might get more of what you’re looking for with a traditional MBA. Even if networking can be done with online MBAs, traditional programs eliminate a lot of the barriers, which might make it a better option if that was a primary goal of yours.
Are You a Self-Starter?
This is one of the most important things you’ll have to figure out before you make your decision. You have to take a long, hard, and honest look at yourself and your true level of discipline. People try to gloss over that fact because they like the idea of being able to take their classes from home or wherever they are, but these are often the same people whose interest starts fizzling out shortly after they start.
Unless you have the right amount of self-discipline, you will never be able to succeed in an online MBA. You’ll soon realize how motivating having a concrete schedule can actually be. This is why you should consider at least picking synchronous classes if you have any doubts and want to try online classes.
However, if you’re the kind who has no trouble keeping a schedule, never had a problem with procrastination, and is responsible, then you could consider asynchronous classes. These will allow you to check out lectures on your own time within a certain timeframe.
Employability
Some people may think that having an online vs. a traditional MBA will actually make a difference when it comes to employability, but that’s simply not true. The quality of the school and its program is all that will matter.
At the end of the day, there’s absolutely no way for an employer to know if you got your MBA online or offline. All they will be able to know is that you got your diploma from X university. The prestige of the school and of its program is all they’ll see.
Not only that, but online MBAs are just as rigorous and tightly regulated as traditional ones. As a matter of fact, they have to go over an additional level of regulation just to make sure that the classes are properly delivered online. So, don’t assume that how you got your MBA will limit your options or competence. This is why it’s important that you learn not only how to choose an online MBA, but how to pick the right MBA program in general. If you want to learn more about that, we suggest you check out this article. It explains everything you should be looking for in a program in detail, and what to look for in an online college specifically.
What Are Your Options?
How much money can you actually afford? What are the options where you live? What about lodging? Were you open to relocating?
These are all things you’ll have to consider before choosing any option. If there aren’t many business schools where you are, or can’t enroll in the one that you want, then going for an online MBA could allow you to go for a better college elsewhere. This is also a good option for people on a limited budget, though tuition is pretty similar. However, you’ll be able to save on commuting and study materials among other things. Online classes might also be your only viable option if you have a family to attend to.
As you can see, both online MBAs and traditional MBAs have their own advantages and disadvantages. It’s up to you to evaluate your goals, needs, and objectives, and be honest about the type of person that you really are before you pick any of these options.