The hot topic amongst budding entrepreneurs are, is a Master of Business Administration qualification worth it? Yes, you heard it right. Pursuing an MBA program on-campus or off-campus is a major topic of discussion. The root of the answer lies in whether a prospective business leader should pursue an official degree to gain knowledge or whether real-world skills are more necessary. We are here to put an end to your queries.
A Master of Business Administration program is specifically designed for individuals seeking theoretical and practical knowledge of business setups, managerial aspects, and investment models. As a wholesome pack, it equips the learners with the relevant skills to keep a solid first step in the business world. Of course, its claims aside, it all comes down to a few stamping factors that decide whether pursuing this course offline or online is worth the effort, money, and time or not.
A prime question – Can you commit to full-time studies ?
The major factor being one’s commitment to full-time education is a tough choice. While some people have their learning path figured out early in life, others decide on higher education in their later years. This may be due to a major slack in domain-centric skills or a mere hindrance in their career graph. Nonetheless, entering the life of a full-time student is a big decision that not everyone has the liberty to take as they please.
This is where an online MBA comes in. With a wide range of institutions offering numerous online programs, thanks to COVID-19, the flexibility is beyond expectations. Unlike on-campus learning which sometimes grants part-time study options, an online MBA for sure gives students the option to pursue it per their pace and preference. To say, studying MBA online gives candidates the advantage of adding a superior qualification to their profile without compromising their usual schedule.
P.S. – Quite a good deal for full-time working skilled professionals looking for an added star to their resume.
Do you have a bar for spend-limit on education ?
No one has to be ashamed of their financial capacity for education. Only the wisest consider twice before spending their hard-earned money on anything. Looking from a cost perspective, an online MBA takes the edge. Being a virtual study method, the course providers usually charge only for the program contents and shared knowledge, unlike offline institutions which quite logically have to charge additional costs considering the infrastructure, amenities, on-campus placements, study material, and other perks. Hence, an online MBA can be considered if you’re willing to overlook a few drawbacks and save big on your penny.
Consider this – Do you want to engage locally or globally ?
Yet another aspect of online MBA that wins hearts. While offline MBA allows the knowledge-seekers to indulge in group projects and work in a real-time environment with their peers, a fact is often overlooked that their coequals are near the same socio-economic background, leaving them with minimal networking exposure. On the other side of the spectrum, enrolments in an online MBA program are not necessarily from the same geographical area allowing a lot more scope for thought expansion and higher chances of collaboration & idea exchange amongst a divergent group of individuals; an aspect which is consequential for someone who aims for a global business model.
Let’s talk numbers – Is an online MBA equally rewarding as its on -campus counterpart?
This is one particular area that requires close consideration of the matter in discussion. Will an online MBA program grant you equally profitable and high-paying employment opportunities as an on-campus MBA? Well, let’s find out.
MBA is a highly accredited and valuable qualification to pursue regardless of the mode of study. Its mode of education hardly affects job prospects; however; it impacts an individual’s skills. While both methods of studying have their fair share of pros and cons, an online MBA can be a little more rewarding, given its cost efficiency and flexibility. The teaching content and curriculum of an MBA remain the same be it provided online or offline. Although, the virtual mode of learning of this course grants the learner a wider scope of exposure and building cross-world connections. The graduates usually aim for higher-level management roles that require great insights into people-reading and mapping with different tools, diversified target audience, and incorporation of international business outlook to take any firm to great heights. All these aspects are granted in an online MBA mode.
Besides, talking about career outcomes after this program, the employment and growth opportunities are never-ending, given the rising demand for strategic and business-minded professionals carrying relevant skills and qualifications to grow the business on global grounds. A few roles in this domain include:
A few roles in this domain include
1. Management Consultant : Management is a broad term that connects almost all functions and departments of a company. As a management consultant, one typically works on high-level business issues that impact the CEO, Board of Directors (BOD), Board of Management (BOM), etc. Because they are typically in charge of a firm’s management operations. Such consultants are specialized advisors who evaluate business practices and strategize with firm leaders to solve operational and organizational problems. At the core, they identify and analyze business challenges and create solutions to make the company, department, or project more successful, profitable, and efficient.
Average Annual Salary : ₹22.0 LPA
2. Project Manager
A project manager is responsible for planning, procuring, executing, and completing a project. They are the ones responsible for the entire project and undertake all tasks such as project scope, project team leadership, and resource allocation to the project. Ultimately, the project managers are responsible for the success or failure of any project
Average Annual Salary : ₹14.3 LPA
A manager is a high-level role responsible for managing a particular department, overseeing everyday operations, and coordinating with supporting departments. Managers supervise, direct and assess the workers who are employed under them. They also carry the responsibility for recruiting teams, evaluating skills, providing necessary training, and supervising performance.
Average Annual Salary : ₹22.0 LPA
The brand manager’s job is to ensure higher profits by improving people’s overall perception of the company and its products and services. They are responsible for building brand equity and changing public perceptions of brands.
Average Annual Salary : ₹12.0LPA
A marketing manager is a person in charge of the marketing department. They promote the company’s products and services and increase sales conversion rates. They also plan marketing campaign strategies to attract customers.
Average Annual Salary : ₹7.3LPA
The final verdict ?
A candidate who aspires to a leadership or management role requires the corresponding qualification not only because of the insightful course learning and relevant skills but also because a degree can often impact one’s career growth. So, to cross out any or all potential drawbacks in your employment graph, it is advised to take on the qualification.
The good thing in all this is that you can pursue the same level course without any compromised curriculum or quality of education with seemingly decreased costs and increased flexibility.