A Master of Business Administration or MBA is a highly valuable postgraduate degree that provides theoretical as well as practical training to help graduates acquire a deeper understanding of general business management functions.
Online MBA vs On Campus MBA
As the name suggests, in an on-campus MBA degree, students have to attend lectures in business schools. An online MBA, on the other hand, offers students knowledge with regard to business and management via digital mediums. Deciding between an online MBA and on-campus MBA can prove to be a challenging task with so many factors to consider. However, understanding what each program offers and further evaluating the options with one’s end objectives can help in making a smart decision.
Below are the key differences between online MBA and full-time MBA that can help aspirants make an informed decision:-
Online MBA programs have a crisp and concise curriculum, whereas, regular MBA programs are comprehensive. Additionally, a regular MBA has a tight and fixed schedule for submission of assignments, exam dates and class participation. Online MBA classes, on the other hand, offer students flexibility in terms of submission of assignments, exam schedules, timings, etc.
Based on the institute, online MBA programs could range from 1 year to 3 years. However, the duration of a regular MBA program is 2 years.
A full-time MBA program is expensive and fees can range anywhere between INR 14 lakhs to 30 lakhs depending on the business school. Top Online MBA programs are comparatively less expensive and the fees range between INR 20,000 to 1,00, 000.
The admission process to enrol in a business school for full-time programs is complex and elaborate. Students have to go through an entrance exam, group discussion, and personal interview to obtain admission in regular MBA. The admission process for the best online MBA is much simpler since a majority for admission seekers are working professionals.
Industrial visits, factory visits, field visits, etc. are important aspects of full-time MBA programs. However, online MBA programs fail to provide practical exposure to students.
A placement process in a regular MBA program is conducted for students at the end of each final academic year that enables them the opportunity to get hired by well-reckoned companies. There are no placement programs available for students enrolled in online MBA programs.
In full-time MBA programs, students continuously interact with each other and the faculty. Best accredited Online MBA programs connect students from across the nation. Chat forums and live classes are some tools that allow students and trainers to communicate with each other and share valuable insights.
An MBA degree is a significant addition to one’s professional portfolio that can help in advancing his/ her career in the respective field. Above are some prominent differences between online MBA programs and full-time MBA programs. Comparing these pointers with their professional objectives will help aspirants make a well-informed decision.