Is it a good time to start an online MBA programme?
COVID-19 has accelerated the number of online MBA programmes on offer.
Even Business Schools who would have never thought of offering an online MBA programme prior to the pandemic have started to offer online MBA programmes since the start of the pandemic. MBA programs from top business schools have become much more accessible to students from around the world. Technology has it also made much easier to study online. Some online programmes are combined with an on-campus experience for students, which last from a few days to a week. This is to complement the online experience together with an opportunity for students to network and to bond with each other. Online MBA courses are much more suited to working MBA students, who can usually only study on a part time basis. They are also able to stay at their place of residence.
Online MBA programmes can also be much more affordable than on-campus MBA programmes.
Admission requirements are fairly similar to on-campus MBA programmes. The admission requirements are usually as follows: GMAT, an essay, personal statement, letter of recommendation, work experience, an interview, and a resume. For international students, if the course language is English, a TOEFL test or equivalent test is required.
Some Business Schools get several thousands of applicants for their online MBA programme. The acceptance rate for online MBA programme is higher than on-campus programs and is known to have been as high as 95% at some business schools.
The average age of applicants is higher, as most MBA applicants have already many years of work experience and are planning to continue working while pursuing their MBA programme.
Many business schools also offer scholarships for their online MBA programmes.
An online MBA programme from a top Business School can be an excellent opportunity to boost career prospects.