A Detailed Guide for Distance/Online MBA
We all know that earning an MBA is one of the most popular professional paths these days, yet many students confront significant obstacles. This could be because they are working to support themselves and their families and it would be impossible for them to leave their jobs while pursuing an MBA. It could also be due to a lack of financial aid to cover the hefty costs of a decent MBA program at a reputable university. Relocating to a new location can be challenging in and of itself. So, whatever the reason for an aspiring student's inability to enroll in a traditional MBA program, the best option is to enroll in a correspondence or distance MBA program.
There's no denying that a traditional MBA program from a reputable college will earn you more kudos and probably more awards, but that doesn't rule out the possibility of a Correspondence MBA program with its own set of benefits. For example, you already know how difficult it is to pass the CAT, XAT, or any other entrance exam for admission to a regular MBA program, and how fierce the competition is. However, if you want to pursue a distance learning program, you can get into a top institute like an IIM, ICFAI, or Symbiosis far more easily.
A traditional MBA program may not be suited for many students or working professionals who are unable to adhere to a fixed time schedule for classes owing to their work and personal commitments. In this sense, distance learning has an advantage because many universities offer online programs and weekend classes with flexible schedules, allowing you to better manage your obligation.
Someone once remarked that India is a wealthy country populated by impoverished people. This is not necessarily true! However, there is no denying that the cost of standard MBA programs is skyrocketing. Be mentally prepared to spend more than seven to ten lakhs in two years for a standard degree from a reputable college. Unfortunately, many students in our country do not have that type of money, and banks do not lend to them because of their low financial standing. Now, this does not mean that such students are doomed; if they have the drive and ambition to achieve, they can enroll in a distance MBA program, which should cost them no more than lakh rupees at most.
If you are an engineering graduate or any other graduate who has worked in a company for the past 3 to 4 years, please read this paragraph carefully! Don't get me wrong, you can find yourself in a nice situation with a salary of 5 to 8 lakhs per annum and believe that things couldn't get any better because, after all, you are just a graduate. But hold on, your entire career is still ahead of you, and if you don't earn a postgraduate degree soon, you risk losing out to fresh blooded competitors, which would be awful. So, what are you waiting for? Talk to your boss first and let them know you want to take a distance MBA; if you're good and they want to keep you, you might get sponsored. Even if you are not funded, you can pursue a correspondence MBA on your own because it is quite affordable.
There is competition among students to get into the best institute, and there is competition among institutes to attract the most students. I've mentioned a few reputable universities where one can pursue a distance MBA degree below.
Most Affordable Online/Distance MBA Colleges in India -
When it comes to choosing an online university, affordability isn't the only consideration. The university must also provide a strong online MBA curriculum that is worth the students' time and money. We've broken down the tuition structure for the most affordable online MBA program at each of India's best colleges one by one.
Amity University -
Amity University Online offers an online MBA (2 years) in General and in 5 different specializations as well. There are three ways in which you can pay the program fee-
- Semester-wise
- Year-wise
- One Time Payment
At Amity University Online MBA, you get a discount if you pay the fee year-wise, and you get an even greater discount if you pay it in one go. The detailed fee structure for the same is as follows:
Semester Fee
1st Semester
- 70,000/-
2nd Semester
- 70,000/-
3rd Semester
- 70,000/-
4th Semester
- 70,000/-
Total
- 2,80,000/-
Annual Fee
1st Year
- 1,32,000/-
2nd Year
- 1,32,000/-
Total
- 2,64,000/-
One Time Payment
Total
- 2,55,000/-
NMIMS -
Narsee Monjee Institute of Management Studies offers an online MBA for 2 years as well as an Executive MBA for 1 year. The detailed fee structure for both of them is as follows:
Online MBA (2 years)
The admission processing fee is INR 1,200/- which is to be paid during registration. As for the tuition fee, there are three ways to pay-
- Semester-wise payment
- Year-wise payment
- One-time payment of the entire program fee
The students get a discount if they pay the tuition fee year-wise. They get an even greater discount if the entire tuition fee is paid at once. The details are as follows.
Pro Mode (live classes + video recorded lectures)
Prime Mode (only video recorded lectures)
Fee per Semester (in INR)
41,000/-
35,000/-
Total
1,64,000/-
1,40,000/-
Fee per Year (in INR)
77,500/-
65,500/-
Total
1,55,000/-
1,31,000/-
Onetime Fee Payment
1,44,000/-
1,20,000/-
Lovely Professional University -
Lovely Professional University (LPU) located in Jalandhar is one of the rising universities in India and they have maintained the same standard in their online programs as well. The university provides first-class facilities at a minimal cost. The university even gives discount benefits to students who decide to pay the fee lump sum, which means the entire program fee can be paid in one go. All the details regarding the fee structure are as follows.
Category
Fee
Program Fee (per sem)
- 35,000/-
Exam Fee (per sem)
- 4,000/-
Total (per sem)
- 39,000/-
Total Program Fee
- 1,56,000/-
Total Fee (if paid lump sum)
- 1,42,000/-
Early Decision Benefit
Program Fee (per sem)
- 26,250/-
Exam Fee (per sem)
- 4,000/-
Total (per sem)
- 30,250/-
Total Program Fee
- 1,21,000/-
Total Fee (if paid lump sum)
- 1,07,000/-
The following are some of the most significant advantages of completing an MBA online.
1. It provides a lot of flexibility.
One of the most significant advantages of getting an MBA online over attending traditional, face-to-face seminars is the flexibility. You have the opportunity to balance your study with your personal life and other responsibilities. You won't have to commute to class every day if you pursue an online MBA, and you'll save a lot of time. You can attend lessons in the best university at your own speed and from anywhere in the world.
2. Less expensive than traditional education
Taking an MBA course online is usually less expensive than getting a traditional MBA. You are not responsible for any infrastructure expenditures. Apart from the course price, online students save money by not having to pay for university housing or commuting to class. When compared to attending a university, tuition for an online education is also less expensive. Because the study and course materials are available online, you can access them whenever you need them.
3. There are no GMAT requirements.
Most colleges only require basic information in order to pursue an online MBA. Your GMAT (Graduate Management Admissions Test) score is usually not requested. You no longer have to be concerned about studying for and taking this admission exam!
4. Opportunities on the international stage
One of the numerous advantages of an online MBA is the ability to enroll at any university in the world and complete the course from wherever you are. This draws a large number of students from around the world, enriching the course with the information and perspectives of a broad demography. It allows students and professionals to network in foreign environments and gives possibilities for business immersion.
5. You are not required to migrate.
If you are accepted into your dream college, which is located in a distant state or country, you will no longer have to worry about relocating and finding housing. You can enroll in college courses regardless of where they are offered, and you won't have to pay a markup for being an out-of-state student because most of these online courses are priced flat. This gives you a lot of flexibility in terms of choosing the course that's suitable for you and your situation, rather than being confined to schools in your neighborhood.
To know more about Distance/Online MBA visit SimpliDistance.