In the past two years, even MBA has evolved and is progressing into the online mode of education. A correspondence MBA or online MBA has served as an excellent opportunity for aspirants already engaged in education or work commitments by offering flexibility to distant learners and working professionals. An online MBA offers not only flexibility to working professionals but also pocket-friendly education opportunities to individuals bound by financial obligations.
While an online MBA degree is an excellent opportunity to build your career, you must make a wise and informed decision to choose your ideal online MBA and get a place! Checking the ranking of the B-school is not the only way you should choose your ideal B-school.
Factors such as your career goals, financial situations, time commitments, placements, ROI, etc greatly impact the choice of your program. No one program fits all the characteristics. Hence, before making an important life decision, you must consider and weigh all the pros and cons and then select judiciously.
Following are the 10 factors that will help you answer the question- How to choose your ideal online MBA and get a place:
Admission Process
The admission process for an online MBA varies from one university to another. A maximum of the B-schools and universities offer direct admission for an online MBA degree. However, some schools consider entrance examination scores as well. There are a few schools that have entirely different criteria for admission which might include presentations and online interviews, as there are limited seats. Applicants must be thorough with the entire admission process before applying to their preferred B-school.
Accreditations and Rankings
Online MBA has gained decent popularity in recent times due to the prevailing pandemic situation. There are plenty of universities offering online MBA degrees. However, aspirants should be very careful in choosing an ideal online MBA college as few colleges have a good online presence but lack the right affiliations.
Accreditations help you give an idea about the various facets that a B-school must excel in such as curriculum, faculty, placement opportunities, retention and graduation rates, alumni support and satisfaction, student bodies, etc. As per UGC (University Grants Commission) guidelines, universities must be approved by NAAC (National Assessment and Accreditation Council) or AICTE (All India Council for Technical Education) for Indian universities. Applicants can also check for other affiliations and accreditations as well.
The ranking of a B-school is not the only parameter but is one of the important ones to consider when choosing a college. The ranking determines the reputation of the university and hence enhances the opportunities surrounding corporate exposure and placements. The rank also determines the value of the institution and the quality it offers in terms of education, faculty, students, alumni, and alike. These factors are really important as most companies consider them before hiring. You can check the ranking of a college on online platforms such as NIRF (National Institutional Ranking Framework) before making a decision.
Course Curriculum and Industry Exposure
Once you have decided on the online MBA course you want to opt for, the next step is to check the curriculum of that particular program. You must study a curriculum that best suits you.
You must take a careful look at the curriculum module provided by the college and the classes that are going to take place. Your research must include information on the study material, instructor-led training, or any domain-specific knowledge you require.
Once you are done with the research on academics, you must next check for the industry exposure you’re supposed to get, since MBA is mostly about the practical experiences that you gain through industry exposure and networking.
Cross-check if the industry exposure provided by the college aligns with your requirements. Enquire about internship opportunities, group assessments, live projects, and interactive sessions with industry experts and veterans.
All these factors are really important to consider when you are going for an online MBA because everything is going to be virtual, so interaction is the key to success which is possible if the college manages regular and seamless interaction and communication.
Careers and Placements
Most of the applicants for an online MBA degree are working professionals who are looking forward to elevating their careers. Placements play a major role when it comes to selecting a B-school for them as well as any other aspirant trying to build a career for themselves.
Landing a job after an MBA is always easier said than done due to more number of aspirants in comparison to the lesser number of jobs in the market. Hence, it becomes vital to select a B-school that provides internship as well as placement opportunities.
You must define and understand your career goals and then proceed with the research accordingly. This is important because you must be aware of your specialization and field and then you must look for opportunities in that particular direction first.
While doing your research on this topic you must look into the recruiters coming to the college every year, the salaries offered, the nature of jobs, average packages, the background of the students placed, and any such information that might relate to your current working situation.
You can also check if the institution has specific departments for helping students with their resume writing and interview process during placements. Any college with a good placement record and reputation increases your chances of landing your dream job!
Program Fees and ROI
MBA is an infamously expensive course to study in India and abroad which is why online MBA (Correspondence MBA) has come as a saviour to many. Not only is the program flexible but it is also feasible. Many aspirants had to give up on their dreams of studying management education because of financial obligations.
Online MBA has sighed relief to such aspirants with its affordable fee structure.
However, the fees for an online MBA are still a big investment and therefore ROI (Return on Investment) or the value for your money is an extremely important factor to consider. You must go through the college website and check their placement records for maximum, minimum, and average packages.
With everything going online in recent times, online MBA has essentially gained pace in terms of virtual learning and is doing wonders in the field of online education.
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