Understanding the online MBA ecosystem in the UK
Posted on: 1 October 2024by Ben Nancholas
A Master of Business Administration (MBA) has long paved the way to career advancement, but another growing avenue is the online MBA degree.
Even before the Covid-19 pandemic, online MBA programmes were on the rise in the UK – and since 2020, their popularity has soared.
According to the Financial Times, online MBA applications had increased by 43.5% in 2021, and online MBA courses had become “as large and selective in their intake” as campus-taught MBA options.
“Before the Covid-19 pandemic, some management professors and MBA heads feared that online education would cannibalise the traditional business school experience of campus lectures and study groups,” the FT writes. “What the past year has shown is not only that everyone can teach digitally, but that the two forms of higher education — digital and campus-taught — can coexist.”
Today, online MBAs span dozens of universities and offer specialisms in a variety of areas, such as:
- Accounting
- Information technology and information systems
- Supply chain management
- Project management
- Healthcare
- Marketing strategy
- Business analytics and business strategy
- Sustainability
With the sheer number of options available, it can be helpful to first explore and understand the UK’s online MBA ecosystem – such as the entry requirements and fees to expect – and why online MBA study is so popular.
Understanding the rise of online MBA programmes in the UK
The emergence and growth of online MBA programmes has followed in the footsteps of education’s wider digital revolution. As technology has advanced, so too have the digital tools available for educators and students, so the growth of online education is largely inevitable – the demand for quality and accessible education blends perfectly with the convenience of digital platforms.
The key selling points for online MBAs, though, are how well they cater to the needs of both working professionals and international students. These programmes are designed to provide flexibility, allowing students to balance their studies with personal and professional commitments over one to two years, or even longer.
“Online study is an evolution of earlier distance learning programs and offers significant advantages for students with busy schedules in terms of flexibility,” explains Postgrad.com.
“Faster mobile networks, increased broadband speeds, and the improved functionality of tablets and smartphones – plus their widespread availability – have all played their part in enhancing the distance-learning environment. Studying online overcomes the problem of geographical location, allowing students a method of easy access to a good business school wherever they live. Moreover, it is now universally agreed that any early prejudices against distance learners have now disappeared.”
The differences between online and on-campus MBAs
While the fundamentals of an MBA education remain consistent regardless of format, online and on-campus MBA programmes differ significantly in their delivery and approach.
Online MBAs, for example, offer an adaptable learning environment where coursework, modules, and lectures are accessible anytime, anywhere. This contrasts with the traditional on-campus experience where physical presence is required. An in-person experience, though, can be useful for people who prefer face-to-face networking opportunities.
“An online education provides the flexibility to study where you want, when you want, yet students have fewer opportunities for in-person networking – something many aspiring MBAs value,” explains the U.S. News & World Report in its article Deciding Between an Online or On-Campus MBA Program. “An on-campus program allows for more face-to-face interaction with classmates and instructors, though students generally attend class in person at a set time, which isn’t ideal for someone who’s also working.”
The advantages of an online MBA
Pursuing an online MBA offers several advantages. For example:
- It provides working professionals with the opportunity to enhance their leadership skills and business decision-making without pausing their careers – or their salaries.
- The flexibility of online learning means that students can seamlessly integrate their MBA studies with their work experience.
- Online MBA programmes often have a more diverse cohort, including international students, which enriches the learning experience for everyone and offers a wider, global business perspective.
How an online MBA adds value
An online MBA is a powerful tool for career advancement. It equips students with competencies in key business areas – such as financial management, marketing management, operations management, or human resources – and the online course content often includes projects and case studies that explore or simulate real-world business challenges, preparing graduates to become more effective business leaders and managers. And all of this happens online.
Online MBA students also often benefit from virtual networking opportunities, gaining access to a vast network of alumni, stakeholders, and potential employers and partnerships through online channels.
And it’s also worth noting that online MBAs, which combine the fundamentals of a traditional full-time MBA with the innovation of digital learning, offer excellent preparation for graduates to navigate the complexities of modern business environments, many of which operate online. So whether it’s for career progression, startup entrepreneurship, or personal development, a part-time online MBA can be a strategic investment in one’s professional future.
Entry requirements for online MBA programmes
Admission requirements for enrollment in online MBA programmes in the UK vary depending on the university or business school, but typically include a bachelor’s degree and evidence of English proficiency for non-native speakers. For those without the necessary academic requirements, though, a certain level of professional work experience may also be accepted during the application process.
Some institutions will also require Graduate Management Admission Test (GMAT) or Graduate Record Examinations (GRE) scores as part of the admissions process. While there is a cost to taking these exams, there are initiatives and schemes such as the GMAT fee waiver to ensure economically disadvantaged applicants aren’t excluded from applying.
Online MBA fees
Like entry requirements, the fees for online MBA programmes can vary significantly between institutions. However, generally speaking, online MBAs are more cost-effective compared to their on-campus counterparts. For example, students can continue to work and earn a salary while they study, and there are fewer associated costs, such as travelling to campus or relocating for study.
Many of the student loans, scholarships, and financial aid programmes available to students on traditional MBAs are also available to those studying online programmes.
How to prepare for online MBA study
When preparing for an online MBA programme, prospective students should:
- Research potential online MBA degrees. Consider the reputation of the institution, and whether it has accreditation from organisations such as the Association to Advance Collegiate Schools of Business (AACSB). It’s also important to consider any preferred areas of study or specialisms. For example, most MBAs will develop knowledge and skills in areas such as problem-solving, budgeting, business models, and mergers and acquisitions, but many will also dig deeper into particular areas, offering their graduates a potential competitive advantage in any relevant fields.
- Make sure they have the necessary technology to access a virtual learning platform for an online programme. For example, this is typically a computer and a reliable internet connection.
- Impose a system for time management. Online learning requires a high degree of self-discipline and self-motivation, so it’s important to dedicate the necessary time and space for self-directed study.
- Get a head start by pre-reading in core subjects like economics, data analytics, and financial management. Have a look at the resources and materials required as part of the programme’s modules, and start reading as soon as possible.
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