Are MBAs a Thing of the Past?

If you are interested in enrolling in an online MBA course, but you are not sure if a master’s degree in business administration is what your resume is missing, or if it would even make a difference when applying for a new job, this article is for you.

With the constant evolution that we have witnessed over the last years in all kinds of fields, there are thousands of devices, methodologies, trends, systems, and mechanisms that become obsolete every passing day.

As you probably figured, far from being the exception, education is one of the domains that has been impacted the most by the evolution of technology, which has caused many methodologies and even domains to be considered outdated and with an unpromising future for not having successfully adapted into said evolution.

Are MBAs a thing of the past?

If you are wondering if MBAs have fallen victims to obsolescence due to poor adaptation mechanisms, or if they are no longer an asset for job applicants, the answer is a solid no. Actually, having a master’s degree in business administration is a valuable qualification for students and workers all over the world in almost every field, as this degree is focused on creating and improving abilities such as leadership, time and resources management, apart from business knowledge.

Moreover, between the call for innovation coming from the pass of time, and the inevitable pressure exerted from the Covid-19 pandemic and its numerous effects, MBA programs are rapidly adapting. Not only are they shifting into what many refer to as “future-ready skills” and finding ways to include them within their curriculum and procedures, but the methods for imparting this knowledge are changing as well. Such is the case of online MBA courses and other distance learning programs.

Allowing people who have already integrated the workforce, or those who do not live in the same cities of the best-ranked academic institutions to join their prestigious programs through online platforms is one of the elements that can help you realize MBAs are here to stay.

If this option seems attractive to you, do not hesitate to take a look at the following list with the best online MBA courses, that will help you remain competitive by perfecting your future-ready skills and preparing you for real-world experience.

7 Factors to keep in mind while selecting an Online MBA program

Like any other study program, online MBA courses represent an investment of time and resources that will pay off by providing you with knowledge in diverse areas of management and business administration.

In order to make an informed decision when selecting the track that you want to follow with your online MBA course, it is strongly suggested to conduct a research process, whose complexity and duration are entirely up to you, with the objective of finding the program that suits your interests best.

Similar to what would happen if you were to invest in stocks or bonds, your research will result in a series of factors to take into consideration. This article intends to be an asset for you during this process and help you decide when choosing your distance learning MBA program. Among the factors to take into account, we would like to mention:

  1. Duration of the MBA program:

Considering the duration of the MBA program that you will be enrolling for, typically of one or two years, is key when making your decision, as this will have a significant impact on your experience. Besides having your diploma sooner or later depending on your choice, there are other elements to consider.

For instance, it is common to find younger people with less work experience in two-year MBA programs, as people that already have a solid, longer track in the labor market tend to be less willing to put a stop to their careers for longer periods, which is why one-year programs are usually their go-to. Also, two-year programs generally offer a more immersive experience, with tighter bonds and a better-established network.

  1. Cost of the program:

It goes without saying that the program fees must fit into your budget in order to pursue it, however, student loans are always an option for people willing to enroll in an MBA program. Even if the cost seems a little high to you, do not rule it out before knocking on all doors, loans included.

  1. Specializations offered:

Among the specializations currently in high demand, we find general management, marketing, and finance.

Lucky for you, Imarticus offers related MBA online distance learning programs in the areas of New Age Banking and Finance and Fintech.

This is merely a reference, but it is essential to keep in mind that one of the first things to consider when choosing a program is the possibility of pursuing a specialization that you like.

  1. Profile affinity:

Not all distance learning MBA programs have the same profile in terms of students’ backgrounds, post-graduation prospects, class composition, or culture in general. Make sure to find one that fits your profile.

  1. Program prestige:

Prestige is oftentimes overrated, but it certainly adds value to your diploma, hence to you. Do not make this your top priority, but acknowledge its importance and keep it in mind, since it does have an impact on your experience.

  1. Alumni feedback:

This is a great tool to obtain first-hand information about the reality of the program. Not all MBA online distance learning experiences are the same, and knowing the pros and cons in advance is advantageous.

  1. Your plans after finishing the MBA program:

Knowing what your goals are after obtaining your diploma will help you elucidate which program suits your motivations best. Whether you cannot wait to start your entrepreneurial project, or you are just looking for a way to increase your net worth after graduation, while exploring different career tracks, clarifying your objectives is a necessary step.

What should you know about earning a second MBA degree?

Master of Business Administration, is a very demanding postgraduate curriculum in India and around the world. This management degree serves as a springboard to a myriad of jobs in the corporate sector. Over the previous two decades, the MBA program has grown in popularity in India.

All managerial level jobs across all domains and sectors want an MBA degree, which is why a big number of graduates now pursue an MBA as a career after graduation.

Best online MBA coursesA full-time MBA program normally lasts two years, while several expedited full-time MBA programs last only one year.

This style of fast-paced MBA is prevalent, particularly at non-US business institutions.

The length of part-time and executive MBA programs varies according to how many credits a student enrolls in each academic semester or quarter. Both executive and part-time MBA programs are designed for working individuals who want to continue their education while working full-time.

In India, getting a second MBA is fairly prevalent and a huge chunk of students pursue it as a career after graduation. Experts suggest that when it comes time to hunt for that promotion, industry leap, or new professional adventure, the first MBA may be lacking in postgraduate benefits such as a strong alumni network or brand recognition.

If someone meets this requirement and wants to work for Google in Europe, they will certainly have a more difficult time than someone who graduated from an internationally renowned program.

When do some people want to pursue a second MBA course?

MBA schools in some countries, like India, accept a large number of applicants directly out of college.

When you enter an MBA program with next to no professional experience, you are more likely to succumb to society’s expectations to land the ‘most prestigious’ job on campus, which is often sifted solely through compensation packages and brand names, rather than what you prefer or what fits your strengths and limitations. Eventually, with time people realize that this is not the right job for them.

  • Some career paths are harmed as a result of a poor employment market, being laid off, a failing business venture, or poor professional choices.
  • There are applicants, particularly from less prestigious MBA programs, who do not have the opportunity to recruit for the top organizations and must settle for whatever remuneration they can receive.
  • Some people want to settle elsewhere and their previous degree is not valid.

When it comes to accepting applicants with an MBA, top business schools have various policies. As a result, before beginning the application process, research the admission policies for second MBA programs at your preferred business schools.

Admission policies at business schools are continually being revised. As a result, before considering a second MBA, establish contact with the admissions office of your preferred business school. All B-Schools do not accept candidates who already have one MBA degree. There are some that accept candidates conditionally and some who accept students despite their having an MBA previously.

When you understand whether your desired business school would approve your application for a second MBA, the second phase is to reflect and determine whether a second MBA is a good fit for your professional goals. In case you lack time for a full-time degree, there are some of the best online MBA courses available on the internet and give you plenty of specializations to choose from.

One must delve deeper and explain why the first MBA did not provide them with the qualifications, abilities, or exposure they required for their professional objective.

In the application, it’s critical to explain why one needs the second degree, especially in the descriptive questions. Essay submissions should also include the short-term and long-term goals, as well as what one aspires to learn from the program.

Conclusion

The best online MBA courses will give you a clearer picture of the wants and needs of the corporate sector. MBA online courses help you juggle between your job and academics and might be a very good option for aspiring candidates.