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What factors reduce the cost of MBA online programs?

Admin | September 23, 2022

With each passing day, the popularity of online MBA programmes is growing. The worth of an online MBA has greatly increased due to the rapid growth of online education and the industry’s increasing need for MBA graduates. Nowadays, many applicants are trying to get into top colleges and universities that provide quality online MBA programmes. We must therefore have prior knowledge about online MBA before enrolling into one. There is a misconception about MBA programs that they are all extremely pricey, which is not true as reputable universities provide affordable online MBA programmes.

Numerous affordable online MBA programmes are available from prestigious Indian universities and institutions. These online MBA programs are more effective and thorough, giving you the chance to pursue your desired profession. 

An MBA can have several benefits, such as increased pay, improved skills, networking possibilities, and the possibility for career progression. An MBA is frequently needed for promotion to senior management positions, particularly in investment banking. However, there are a few challenges in pursuing a typical campus-based MBA programme. Work-life balance may not be possible with a campus schedule or the time commitment needed for in-person class attendance. 

Online MBA course overview

Features Information
Name Online MBA
LevelPost-Graduation (PG program) 
Course content online using a learning management system and video conferencing 
Eligibility criteria Graduation with a minimum of 45% to 50% marks or equal CGPA.Job experience (for some specific programmes)
Admission processEntrance exam or merit-based
Duration1 – 2 years 
Online MBAspecialisationsSales, marketing, business analytics, operations, finances, human resources, and human resources

Factors that make an online MBA affordable

  • No physical building/infrastructure – Since there is no physical infrastructure or college building involved in an online MBA, it ultimately reduces a huge fixed cost involvement.
  • Low operating cost – The operating costs are usually less in an online MBA.
  • No printed study material – While studying online MBA, there is not much requirement for physical study material or notes compared to offline MBA. The study material is shared in PDFs and Ebooks, which will help reduce costs.
  • No travelling expense – Travelling to the university’s location is another important aspect that significantly affects the cost of the mba online programmes. If you pursue an MBA course online, travelling costs will not affect your pocket anymore because an online MBA is way more convenient and easier to access from any place of your choice.
  • Low tuition fees – The highest expense in the cost of a programme is the cost of tuition. Most of the programme’s overall cost is made up of tuition. However, you should consider additional costs, the cost of materials, etc., when determining the programme’s total annual cost. An online MBA tuition fee is lower compared to an offline MBA, which ultimately makes an online MBA more affordable.

Things to consider before enrolling in an online MBA programme

When comparing online MBA programmes, there are many important things to take into account, such as requirements, accreditation, support, pricing, and other elements.

  • Accreditations/Recognitions/Rankings – It can be difficult to choose from the increasing number of online MBA programmes. Verify the online programme’s accreditation as a first step to make sure it’s credible. Check out the recognition and rankings the institute has received to know the authenticity of the programme. The standards of a business programme’s instruction, faculty, student support services should also be assessed.
  • Course curriculum – Check out the course curriculum of the programme in depth to make sure it is compatible with your career goals and skills and would help you advance in your career. 
  • Career options – It is worth investing in an MBA. Despite the fact that it is impossible to predict the future, you want to make sure you will have a wide range of employment options after graduation. Check out the job prospects you can apply for after completing the programme and the new career opportunities that can emerge.
  • Return on investment (ROI) – Do in-depth research and analysis on the return on investment that you can expect after completing the programme.
  • Placement assistance – You certainly don’t want to enrol in an MBA programme online only to find that the university doesn’t support it in the same way that it does for programmes that are taught on-campus. Make sure that the online courses have the same resources available as on-campus courses. See if the university you’ve chosen provides assistance to online students, such as career counselling services and placement assistance and opportunities.
  • Faculty – Check out the faculty members and the mentors of the programmes before enrolling in the programme. A capable and experienced faculty can provide you guidance in your career path and valuable skills to land your dream job. 
  • Learning management system (LMS) – Look in depth at the learning management system implemented in the programme to make sure it is easily accessible and easy to use and understand.
  • Affordability – You must take into account the cost of the programme before enrolling. Check out the detailed cost of the programme and how affordable it is before enrolling in it. Analyse the types of financial aid each programme provides, both based on need and merit. 

What makes an online MBA an ideal post-graduate programme?

Students in online MBA programmes benefit in a variety of ways both during their education and after they graduate, including improved flexibility and access to numerous resources. Because of this, many students find online programmes to be considerably more appealing than conventional on-campus ones. The advantages of earning an online MBA are outlined in the list below.

  • Accessibility – Your success may greatly benefit from having access to online lectures as well as other study materials from any location. You can pick the optimal study settings for your learning style and continue your MBA studies despite job changes, moving, travelling, or other changes in your life without missing deadlines.
  • Flexibility – In order to be flexible, you must be able to fit your studies around your current schedule instead of the other way around. You can take advantage of this advantage, for instance, if you are a rapid learner, to finish the online MBA degree sooner. Alternatively, several universities allow students to finish their degrees in as few as five or six years.
  • Diversity – By design, online MBA programmes, particularly those that emphasise globalisation and international business, provide a wealth of chances for networking with other students from around the globe. Studying online might be quite advantageous if you prefer a diversified atmosphere but live in a place where there isn’t much diversity.
  • Technology – Reading lists, books, assignments, and notifications are all available online for quick access, so you don’t have to stress about losing or forgetting your study materials. Additionally, many students discover that online forms allow for more uninterrupted class discussions, improving the chance that every student will be heard.
  • On-campus resources – Many on-campus facilities, such as career services and corporate recruiter networks, are equally accessible to online and on-campus students. You can anticipate equal access from your online programme, whether you require help from the writing centre, technical assistance, or proof of your transcript from the registrar.

Is an online MBA worth it?

Given that an MBA degree enables people from many areas of life to broaden their ideas, an online MBA can be revolutionary. Online education is affordable and is a convenient learning mode for both students and working professionals.  . Students who interact with a diverse range of people from throughout the world develop greater cultural sensitivity and respect.

One of the advantages of an online MBA is that it generates a schedule for you automatically, encouraging you to schedule your time for classes, assignments, and submissions each day. This will be done without the aid of a class or a teacher. The ability to manage oneself and one’s time is one of the keys to employment. You will be helped in carefully honing this talent by online education. You’ll join a group of people with an online MBA who are ready for the next wave of employers that will be looking for more than simply a regular MBA.

With the advancement of technology, online education is becoming more and more accessible and well-liked by corporations and students. These groups benefit from the ability to study whenever they want because it gives them new opportunities for development and mobility, which improves their success as learners in a quickly changing global world. Enhancing self-control, career growth, and time management are all possible with an online MBA.

Why is an MBA a suitable degree for freshers as well as working professionals?

An online MBA degree is appropriate for both freshers and working professionals. Following are some of the benefits of an MBA programme:

  • An MBA degree provides a wide range of career opportunities.
  • It allows professionals to advance their careers by getting into managerial and higher positions.
  • An MBA degree also increases the chances of a higher pay scale.
  • An MBA degree helps individuals planning to switch careers and also helps in career growth.
  • An MBA degree comes with various specialisations, and individuals can choose the one that is relevant to their career goals.

Get UGC-entitled online degrees from Manipal University Jaipur

Manipal University Jaipur is a top-tier institution with UGC recognition and aNAAC A+ rating, which supports its academic model, world-class facilities, pedagogical approaches, and educational standards. At Manipal University Jaipur (MUJ), students have access to a user-friendly online learning environment where they can review the course material, view lectures that have been recorded, participate in forums with other students and faculty members, and much more. The online programmes offered by MUJ through Online Manipal platform provide a fantastic career development experience where students can study at their own pace, engage with subject matter experts, and discover the support, network, and opportunity to grow. MUJ offers MBA programmes with various specialisations in an online mode. Students also get free access to Coursera courses to develop and upskill themselves further. The online programmes are appropriately priced and can be paid in convenient instalments. 

Conclusion

You could still be debating if an online MBA is the best choice for you, but if you’re looking for a job promotion, a wider professional network, or a salary increase mid-career, an MBA would be the right option. The appealing advantages provided by online MBA programmes include a variety of networking opportunities, a wider range of career opportunities, and the freedom to design your academic plan around other commitments.

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