Completing an MBA is an exciting step to further your career and increase your earning capacity, but as a busy Mum, choosing between an online MBA and a similar on-campus course can be tough.
Here are the pros and cons of choosing an online MBA.
1. You need plenty of self discipline
Studying online means you are fully accountable for the hours you put in; there’s no professor taking attendance at a study group. This means you’ll need great self-discipline to ensure you listen to every lecture and complete every assignment in your own time.
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2. You miss out on the on-campus experience
On-campus study means you can immerse yourself in the daily life of living at University which means coffee catch ups with classmates and occasional afternoon teas with professors. As a Mum though, you probably don’t want to be kept awake by drunken parties or listen to tales of woe from 21-year-olds, and you may have already done your time on campus. If you’ve ‘been there, done that,’the on-campus experience is probably not for you.
1. Employers don’t differentiate between online or on-campus degrees
As long as your MBA is from a reputable business school and accredited by The Association to Advance Collegiate Schools of Business (AACSB), most employers don’t care if you studied online or not. Most online MBA curriculums are identical to on-campus versions, the only difference is the learning style.
2. You can get Fee-HELP for online MBAs
Great business schools will offer government-funded assistance for online MBAs in Australia. This enables you to pay off your debt slowly rather than pay up front, helping you manage all the bills and ongoing payments you already have as a Mum without getting stuck in huge debt.
3. You’ll perfect the meaning of work/life/family balance
Online study makes you a master of balancing your life thanks to the flexibility it provides. You have complete autonomy over the hours you study, so you can choose if you want to be available for bath time, for after-school pickup, or for that important conference call you have at work. This skill is considered invaluable by potential employers after you finish your MBA.
4. You’ll make meaningful connections with colleagues
The extra confidence that comes with typing and texting vs. speaking in person can yield amazing connections and friendships. By working online during group assignments, you can create great relationships with your team by putting your opinions forwards; a tricky skill for those who are shy in-person. The same applies to your professors; you may be more likely to interact with them and ask more questions thanks to online interactions vs. face to face.
5. You’ll become a tech wizard
Online learning forces you to become a genius when it comes to cloud technology, file sharing, online video and social software; all highly regarded skills in any workplace. If you’re not very tech savvy just yet, don’t worry, you’ll learn all the skills throughout the course as you work with your peers and submit work online.
6. Online MBAs are slightly cheaper
Online MBAs are usually cheaper than their on-campus counterparts due to the savings of location costs. In the past year, the cost of MBA courses in Australia increased by 5.6% making financing your study a significant consideration. Choosing an online MBA could be the best option for you to stay afloat financially while you study.
The slightly lower price point also means your current employer can afford to cover more of your MBA if they have offered to pay for a portion, lowering your repayment amounts significantly.
Online MBAs are the modern alternative to on-campus MBAs. Online learning provides you with business skills, as well as time management and up-to-date technology skills you don’t necessarily cultivate with on-campus MBAs.