Best Online MBA Programs of 2018 (Updated), normally two year of MBA course will cost around $111,000 but now students are more interested in Online MBA since they are getting same course at $97,000 around 13% discount.
1. Fox School of Business
Temple University's Fox School of Business has been ranked by the US News, it's one of the best and highest rated university for the best online MBA program in USA.
2. Kelly School of Business
Indiana University's Kelly School of Business, has been ranked by the US News, it's second best and most popular university for the best online MBA program in USA.
3. Kenan-Flagler Business School
University of North Carolina's Kenan-Flagler Bussiness School, according to princeton review, the online MBA program offered by the bussiness school of the University of North Carolina at Chapel Hill is the best online MBA program in USA.
4. WP Carey School of Business
Arizona State University's WP Carey School of Business, has been ranked on the 5th position as per US News, it's 5th best and popular university for the best online MBA program in USA.
5. WP Carey School of Business
The first online program was offered by the Hough Graduate School of Bussiness. It was ranked under the top five online programs in USA as per World Reports.
6. Tepper School of Business
6th best online MBA programs in USA as per the US News and Word Reports. Carnegia Mellon Univeristy has the part time online hybrid MBA program. Weekly live classes are held to help students.
7. Saunders Collage of Business
This Business collage was ranked at the 7th position as per Princeton Review, the online MBA program has been designed to help all the students, who want to enhance their skills and attain their career goals.
8. Pennsylvania State University
Rated within 10th most popular university by the US News and World Report. The online MBA program provided by the Pennsylvania university, world campus known for best residency experiences.
What Does MBA Stand For?
MBA (Masters of Business Administration) is a Master’s Degree in Business Administration.
What is an MBA Degree Stand For?
MBA Degree is for those who want to develops their skills in the business management. It was found in the Unites States in the early 20th century. Now I will help you to understand the MBA Degree / MBA Program.
When you want to start MBA course you need to pick one of below mention core subject:
- Human Resources
Now I believe you are getting familiar with above subjects. These are highly relevant with the strategy and analysis of management. MBA programs also have elective courses included with the core subjects.
When compared to the degrees that cover some of the same subjects, like Master of Finance, Master of Economics, Master of Science in Marketing. MBA requires the completion of twice the credits as in the other courses. MBA is both a terminal and a professional degree.
MBA Program Requirements
A majority of MBA programs take the admission decision on the basis of the applicant’s GPA (Grade Point Average), score in the entrance exam, academic transcripts, resume with a relevant working experience, letters of recommendation, essays, and lastly the personal interview.
Some business schools also focus on extracurricular activities and volunteer work and hence also include volunteer work and extracurricular activities as one of their requirements.
When it comes to the entrance exams, GMAT or Graduate Management Admission Test is the most prominent entrance examination that is given for admission in MBA. In addition to this, the GRE (Graduate Record Examination) is also accepted by the business schools for fulfilling the requirement of the entrance examination.
There also exist some business schools which do not give weight age to entrance examination marks and there are some which do not require entrance examination for giving admission to the aspirants.
Business schools also give a consideration to the gender ratio and also to the local-international student ratio while giving admission to the students. The work experience required for taking admission in MBA, depends upon the type of MBA program you have opted for. Most of the top-tier programs demand a work experience of more than 5 years for admission in MBA.
Best Online MBA Programs
Top MBA Programs, Some of the Best MBA Programs are:
1. Full Time MBA (2 years)
This program is completed in a span of 2 academic years. In the business schools of the Northern Hemisphere, MBA program often begins in the August/September of the first year until the month of May in the second year.
This academic session includes a summer break of 4 months. The students enroll for this program with a prior working experience and take classes during the weekdays.
For the full-time MBA course, the students need to have 60 credits.
2. Part-Time MBA
Part-time MBA programs usually have classes on the evenings of the weekdays, after the normal working hours or if not on the weekdays, then on the weekends.
The students who opt for this program are usually working professionals who can take a light course for a longer period to fulfill the requirements of graduation. This MBA program usually lasts for 3 years.
3. Accelerated MBA
This is a variation of 2-year programs that has a higher course load and has more intense classes and examination all condensed into this is a 1-year program. This course usually has a less time during the semester.
For instance, there is no summer break in this program and instead of 5-week vacation, the students just have 7-10 days off. The fees of the accelerated MBA is less than that of the 2 year full-time MBA program.
4. Evening MBA
Evening MBA program is a full-time program in which the classes are normally held in the weekdays evening or on the weekends and that is why is called as second-shit MBA program.
The duration of this program is of 2 years and is usually attended by students who cannot pursue a full-time MBA course.
5. Modular MBA
This program is similar to the part-time MBA programs that have a lock-step curriculum and the classes are packaged together in blocks which last from 1 to 3 weeks.
6. Executive MBA
This program is basically created for managers and executives to meet their educational needs and to allow them to have a MBA degree without compromising their jobs.
The students for this program can belong to non-profit, profit, or government company. They have a working experience of more than 10 years as compared to the other programs.
7. Distance Learning MBA
The distance learning MBA classes usually hold classes in different formats like non-interactive broadcast video, correspondence courses by mail, video conferencing, pre-recorded video, offline course, or online course. Most of the B-Schools offer distance learning MBA program.
8. MBA Dual Degree
This program combines a MBA program with other degree as MA, MS, etc. for enabling the students to save time and money that is invested in getting two degrees.
Moreover, it enables the students to tailor their business education as per their needs. In some B-Schools, the students can earn both a Bachelor’s degree as well as the Master’s degree in just 5 years.
In this section, we have compiled the salaries than a person with a MBA degree gets in India. The salary of the person differs on the basis of the field chosen by the student in his MBS program.
• Marketing Manager
Rs 2,48,656 – Rs 1,489,940
• Human Resources (HR) Manager
Rs 2,62,229 – Rs 1,359,295
• Business Development Manager
Rs 2,46,936 – Rs 9,27,378
• Human Resources (HR) Generalist
Rs 1,76,207 – Rs 5,95,976
• Business Development Executive
Rs 1,81,207 – Rs 6,12,772
• Senior Business Analyst
Rs 2,93,614 – Rs 1,736,186
• Area Sales Manager
Rs 3,99,000 – Rs 1,587,197
Is MBA Worth It?
At times, many people who want to pursue MBA, are tied up in thinking whether MBA is worth their time, efforts, and expenses or not. For all of you, who undergo the same thinking process, let us tell you that its only worth all this if you really plan on working in a business vertical such as in a management company or want to start your own company. For people who are working in other industries like technology, an MBA degree might not bring anything useful your way.
Moreover, not all the MBA degrees are treated as equal around the globe. Since the number of colleges, business schools and universities offering a MBA degree are increasing, the number of MBA graduates are also increasing.
Therefore, unless you do MBA from a respectable MAB program, it will not be as valuable as you might think it to be. Recruiters often do not view an MBA degree that has been earned from an unknown online program. Hence, make sure that you do your MBA from a reputed online MBA program so that it pays off your hard work in the long run and don’t turn out to be a sheer wastage of your time and resources.
For the students looking forward to get a Master’s degree from a business school based abroad, a lot of scholarships are provided. Since, a majority of International students look for financial aid in finishing their Master’s degree, a scholarship lessens this burden and ensures that the students get the best education that they deserve.
The scholarships are awarded based on nationality, professional development, gender, educational background, leadership qualities, etc. The chances of bagging a scholarship gets high when you apply for them as early as possible and by completing all the formalities.
Let’s have a look at some of the scholarships that students can avail for studying abroad.
1. Wharton MBA Scholarship
Under the Wharton Scholarship, you get a chance to get scholarships like:
• Emerging economy fellowships for the students from emerging economies
• Joseph Wharton Fellowships for students having outstanding achievements
• Forté Fellowships for the female students
• Howard E. Mitchell Fellowships for the outstanding students from under-represented backgrounds
• Social Impact Fellowships for the students belonging to public or not-for-profit sector
2. Harvard MBA Scholarship
One of the best universities in world, Harvard, offers a lot of need-based scholarships for the students looking forward to pursuing MBA from their school. The students receive approximately $34,000 every year for their education. The scholarships offered by them are:
• The Robert S. Kaplan (MBA 1983) Life Sciences Fellowship for students interested in a science-based career
• Horace W. Goldsmith Fellowship
3. Stanford MBA Scholarship
• Stanford Reliance Dhirubhai Fellowship is awarded by the Reliance Group, India to 5 students for their MBA degree. The scholarship covers the tuition and fees for each of the two years of the program.
4. Columbia Business School MBA Scholarship
The Columbia Business school offers 2 scholarships on the basis of merit and need. They are:
• Forté Foundation Scholarship for women
• Toigo Fellowship for the students belonging to under-represented groups and pursuing finance careers
• Awarded in the range of $7,500 to $30,000.
5. Chicago Booth Scholarships
The scholarship provided by the Chicago Booth scholarships are:
• India Trust Fellowship for those students living and working in India
• Akhtarali H. Tobaccowala Fellowship for students belonging to India
Apart from the above-mentioned scholarships, there are many other scholarships that a MBA aspirant can leverage for financial support.