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ONLINE MBA DEGREE PROGRAMS

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Almost 3 million students from the USA are currently enrolled in online programs. Online MBA degree programs are becoming popular among these 3 million online students in the US. It is providing an opportunity for non-traditional students to gain online MBA degrees. These online MBA degree programs are now contributing heavily to increase the size of the US economy. Let’s dive deep and understand about these degree programs. 

For Further Reading: MAKE A DIFFERENCE WITH PENN STATE UNIVERSITY ONLINE MBA

BOSTON UNIVERSITY ONLINE MBA – BECOME A 21ST CENTURY LEADER

BEST UNIVERSITIES IN THE USA FOR ONLINE MBA

1. Admission Criteria

The following are the admission criteria in detail.

a) Admission criteria for US Students

First of all, you will need to fill up an online application form along with an application fee. A fee may vary from institution to institution.  You have to submit a transcript from all institutions, which you have attended to date. You can also submit its equivalent.  A good-looking resume that shows your all data regarding your qualification and professional work experience needs to be submitted. Normally a minimum of 3 years’ experience is recommended. A letter from a previous or current employer should also be submitted. This letter will be considered a professional letter. Besides it, one written essay to be submitted. Students from the USA also may have a good chance of getting scholarships. Scholarship criteria are different for different universities. It depends on their requirement. Every university has its procedure and criteria for granting scholarships to its students.  

Some universities may grant scholarships according to your financial status, while others may grant scholarships according to your educational ability.  Having this degree online at Boston University costs $24000, the delivery method will be online and it may take 24 to 36 months for completion and the total coursework is 6 courses. At the University of Southern California, the requirement for applying is the applicant must have a bachelor’s degree. He or she may submit scores for GRE and/ or GMAT and to submit GPA and academic achievement. American Universities have also the same admission requirement for online MBA degree programs. They offer subjects like Business Fundamentals, Business Law, Ethics, Governance Financial Accounting, Managerial Economics, Financial Management, Managerial Accounting, Operations Management of Organization, Human Capital Manager in the International Economy, Managerial Statistics, Management Information Systems, Strategic Thinking for Decisions, Marketing Management Strategic Decision Making, and program, etc.

b) For Non-US Students

For Non-US students, the criterion is a bit different, and it may vary from university to university. For Boston University, international students should submit a TOFEL, ILETS, PTE score report. Normally an online interview is conducted in which a student is asked various questions regarding his or her education and work experience. This MBA online degree is delivered online and is delivered by Questrom’s faculty. But it should keep in mind each university has its procedure to send a degree to its students’ learning online. The online Master of Business Administration degree leverages insights gained from global conversations with over 3,000 industry professionals and academics in ten regions around the world.

2. Purely online

For most of the universities, the course is purely online, especially for international students means Non-US students. If an assignment is given to the students, it is submitted via the internet. No need to visit the campus. Your transcript and degree after the completion of the course are issued easily. You do not have to go abroad to collect your documents. Universities deliver it to your address. Lectures are delivered online; students do not need to go to the campus like regular students do, to get notes or something else. Each end of everything is online during this online degree program.

Local students or U.S. students may also go to the campuses to collect their degrees after completion of their courses, but normally their degrees are also issued to them to their homes rather than collecting them by hand. It is in the same way as non-USA students, USA students are also given materials online. Assignments, tasks, tests, and other assessment programs are carried online. Workshops are also conducted online; students prepare presentations that are presented to teachers online. This scenario was observed in the COVID-19 lockdown where exams were being conducted online in almost every country. Students were taught online and were examined online.

Homework and other assignments were also submitted online. It means the process of getting a degree online is possible without visiting the campus of the institution.  Besides the teaching process, the submission of the fee is also online. You do not have to go to the campus, rather you will submit a fee online to the campus account number. Even at the time of admission, you are not called to the campus. Instead, you will appear online to be interviewed by the university authorities. This becomes easy for the students. They do not have to go outside. At home, they can get everything just on the tip of their finger. US students are native students; they would have no issues there regarding their degree while non-US students too would have no issues while learning or taking classes because everything is online.  There are also some universities, upon completion of the degree, call upon their students to come and collect it – this is especially for the non-US students. This is a sort of honor given to the students. Universities arrange programs for them and their degrees are given to them. But some universities delivered their lectures via post and do not call them to the campus. Students only have to apply for the degree collection.

3. Course Structure

Online MBA course generally has financial accounting, international economic management, applied managerial statistics, intercultural communication, financial management, international negotiation, understanding global economics, global economic governance, and private sector engagement with social issues. All of these combine 27 credit hours.

The elective portion has 6 credit hours and its subjects are International Finance, Business Analytics, management of the organization, and human capital and marketing management. Global immersion has 1.5 credit hours.

Financial accounting introduces the accounting model of the firm, the accounting cycle, and the methods the firm used to account for its operating and investing. Financial management explores the financial theory methods of analysis including risk measurement etc. Manager in the International economy includes the study of nature, scope, and trends of international business and international monetary system. Intercultural communication examines the interaction of people across the culture. International negotiation focuses on negotiation between the parties. The understanding global economy focuses on the globalization process; International finance includes the sources of funds and taxation.

a) Course Fee

An online MBA normally costs less than an on-campus MBA, but what is the cost of an online MBA? Let us discuss it now. The costs vary greatly – anywhere from US$10,000 to US$80,000. It varies from institution to institution. An online MBA is a major investment, one that you may even need to utilize student loans to finance your studies. That’s why your choice of school shouldn’t solely depend on whether it’s good for you and your career goals; you also need to decide if the online MBA program fits into your budget. Although some more expensive online MBA programs have the best reputations, the cost is not necessarily an indicator of a quality online MBA program. So, why is there such a big price difference? The cost of an online MBA program depends on a variety of factors, including whether the institution is public or private, the size of the student body, and the amount of technology used on campus. These things matter a lot.

Now have a look at the following fees.

  • The University of Alaska is the state University and its fee per credit is $446
  • Auburn University: $875
  • Stanford University $837
  • The University of Alabama $437

Besides it, one should keep in mind that the application fee is $65-$75, Registration fee $47 per semester for some Universities. Technology fee $75 to $250 or more per semester and a deposit fee of almost $1000.

b) Course Duration

It depends on the type of program. Like full-time MBA will take 2 years, accelerated MBA 12-18 months, part-time MBA 3 years, 4+1 MBA 5years, Weekend MBA 2 years or more, executive MBA 1 to 2 years, online MBA  1 to 2 years, Ph.D. 4 to 5 years, Joint degree 3 to 4 years.

4. Best institutions

I. ESMT Berlin, Germany

It is located in the center of Germany having an excellent reputation, Tuition for the MBA program is in the range of 38,300 – 43,500 EUR/year.

II. The Erasmus University of Rotterdam, the Netherlands.

Erasmus University is known for its experimental learning environments by living management and Personal Leadership Development. You can know more about the university via the internet. Tuition for MBA programs is in the range of 28,900 – 52,000 EUR/year.

III.  IE Business School, Spain

IE Business School is another known business institution from Spain that is in the Top 20 of MBA rankings. Programs are available both in English and in the Spanish language. It utilizes a virtual campus with asynchronous online sessions, live interactive videos, and integration days on campus. Tuition for MBA programs is 51200 – 120810 EUR/year.

IV.     INSEAD Business School, France

This institution has a diverse background and students can choose from a wide variety of more than 70 elective courses. It is very beneficial for students, especially for MBA students. It has a 10 month accelerated MBA program. The tuition fee for MBA programs is 87000 – 111940 EUR/year.

V   Bocconi University, Italy

Bocconi University in Milan, Italy, has a good reputation and has a long history in providing quality study programs in fields of Economics, Business and Finance, and other major fields. It provides proper practical training and offers internship programs for newcomers. The tuition fee for MBA programs: 59000 – 89425 EUR/year..

VI. Warwick Business School, United Kingdom

Warwick Business School is located in England and it is a business research center too.  It has also a good reputation, and it comes in the top MBA rankings – but also a great business research Centre. Besides classical MBA programs, several double-degree programs are also offered as an answer to the need for multidisciplinary knowledge. The tuition fee for MBA programs: 19010 – 47380 EUR/year.

VII.   ESADE Business School, Spain 

Especially as far as career progression is concerned, ESADE Business School is regarded among the top European business institutions. With currently 48 different nationalities represented, ESADE offers a very rich international environment, providing good opportunities for international students too. ESADE also offers a part-time Executive MBA and Global Executive MBA that is conducted in Washington, DC, Barcelona & Madrid, New York, and Bangalore.Tuition for MBA programs: 64000 – 72000 EUR/year.

VIII.      Erivan K. Haub School of Business

The online MBA at SJU has 33-53 credits but depends on students’ backgrounds. Students can choose according to their interests and background. Part-time students can complete the online MBA in 2-3 years.

Main courses emphasize business analytics, organizational excellence, and human potential. Online MBA learners can choose from 07 concentration options or a general MBA curriculum. Online and on-campus students pay the same per-credit tuition rate. To apply to as mentioned above individuals submit GMAT or GRE scores, a personal statement, a resume, and two letters of recommendation.

IX. University of Birmingham

It offers twelve-month full-time programs as well as part-time MBA programs it depends on student background or his interest. Study programs are over two and a half to six years, delivered over two consecutive weekends per module. The Birmingham MBA teams are available to offer help on all aspects of your MBA study.

X. Keele University

It offers help in the context of real-world practice and designed in close association with leading employers, the 100% online MBA from Keele University has a major and constructive purpose and that is to equip senior leaders of business and aspiring leaders across all industries and sectors with the sought-after knowledge, skills, and behaviors to successfully lead in a sustainable and transformational way.

Conclusion

In a nutshell, we can say that it is best to earn an MBA degree, especially online. Furthermore, different universities offer such online programs for both US and Non-US students. Above all, Non-US students would not have to go to campuses.


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2 thoughts on “ONLINE MBA DEGREE PROGRAMS”

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