I Thought Online Degrees Weren’t as Good?
There’s no doubt that the face of education has changed. Just a few years ago, an online education was either considered sub-par, or it didn’t even exist. Now, the online MBA is soaring in popularity and welcoming a new wave of students.
The truth is that from 2012 to 2013, the number of students taking, at least, one online course grew from 570,000 to 6.7 million. And in 2014 study, 70.8% of academic leaders reported that e-learning is critical to their long-term strategy while 74% said that online learning was the same as or superior to face-to-face instruction.
Yeah but Online Learning Wouldn’t Work for an MBA Right?
Online schooling is the new future of education, but what about for MBA programs? MBAs have always been the crème-de-la-crème of the academic world, and, for many, that means an online education doesn’t make sense. However, that perception is changing.
The online MBA isn’t a “cheap” or “cut-corner” way to accomplish Business School; it’s for older professionals, typically around 33-years-old, who have impressive professional accomplishments but, potentially, lackluster academic credentials. Although most admissions officials say their online MBA programs have the same standards as their brick-and-mortar counterparts, they do admit that their online programs attract different candidates with unique strengths.
According to an article in US News, Cheryl Oliver—the Assistant Dean for Graduate and Online Programs at Washington State University’s College of Business—they look at different qualifications for their online MBA class.
“In online learning, when we are looking at people who have been out seven or eight or nine years, we know that [academics and standardized test scores] might not be the best measurement for that learner,” she said.
Although, in general, the more experienced generation is most attracted to and best fitted to the online MBA, admission into the top online MBA programs is still highly competitive and becoming more selective. In fact, in a recent report by US News, for 26 online MBA programs, only 40% of applicants were accepted, while the average is a 75% acceptance rate.
Why Are Online MBAs Becoming So Competitive?
The reason for the new selectivity is most likely thanks to the increasing popularity of online MBAs. Just as traditional MBAs become more selective as they grow in prestige and applications, so too do online MBAs. However, interestingly enough, the top schools for performance don’t necessarily match the top schools for selectivity.
Every year US News releases their report on the Best Online MBA Programs. The ranking evaluates schools based solely on data related to their distance education MBA programs. The ranking specifically looks at five different categories, rating them based on their importance. The categories are:
- Student Engagement (28%): It looks at the quality of online MBA programs in promoting participation in courses allowing students to readily interact and engage.
- Admissions Selectivity (25%): Looks at the entering MBA student bodies and their proven aptitudes, ambitions, and accomplishments.
- Peer Reputation (25%): Reviews a survey of high-ranking academic officials to account for intangible factors affecting program quality.
- Faculty Credentials & Training (11%): Compares the quality of the online MBA instructors with their campus-based counterparts.
- Student Services & Technology (11%): Looks for MBA programs that incorporate diverse online learning technologies.
The report ranked 167 various online MBA programs around the US to determine which schools offered the best overall experience. Each of the online programs was ranked according to the five criteria mentioned above, and granted points out of 100 in each category. The top ten programs are listed below:
#1 Fox School of Business at Temple University: The Fox School was ranked in first place thanks to its very selective admissions (100), its high student engagement (98), and its faculty credentials and training (95).
#2 Kelley School of Business at Indiana University: The Kelley School ranked second thanks to their high barrier for admissions (97) and their faculty credentials and training (90).
#3 Kenan-Flagler Business School at the University of North Carolina: Ranked at third place overall, the Kenan-Flagler School received high marks for their student engagement (97) and their faculty credentials and training (82).
#4 Hough Graduate School of Business at University of Florida: Coming in at fourth place, the Hough School performed well in admissions selectivity (91), student engagement (83), and faculty credentials and training (82).
#5 Carey School of Business at Arizona State University: The Carey School received their best marks in student engagement (88). #6 Tepper School of Business at Carnegie Mellon University: As for the Tepper School, it stood out for its admissions selectivity (89).
#7 Pennsylvania State University World Campus: The Penn State online campus ranked highly for their faculty credentials and training (97).
#8 Lehigh University College of Business and Economics: Lehigh performed well in their admissions selectivity (92).
#9 Naveen Jindal School of Management at the University of Texas: The Naveen Jindal School is well known for their faculty credentials and training (85).
#10 (Tie) Arkansas State University College of Business: Arkansas State performed well for both their faculty credentials and training (100) as well as their student engagement (96).
#10 (Tie) Raymond J. Harbert College of Business Auburn University: Raymond Harbert College, the final school to make it into the top 10, performed best in faculty credentials and training (86).
As for the most selective schools with the lowest acceptance rates for 2014-2015, the top 10 are ranked below:
- Concordia University Chicago—33.5%
- Cleveland State University—34.1%
- Robert Morris University—36.4%
- Marist College—36.6%
- Lasell College—38.5%
- University of North Texas—39.4%
- University of Tennessee—39.9%
- University of South Florida—40.2%
- Liberty University—40.9%
- University of Mississippi—42.2%
When it comes to choosing your online MBA experience you’ll need to determine the merits and drawbacks that have the most impact for you. Compare each program based on your particular circumstances to find the choice that fits you best.