MBA Online VS On-campus: 7 changes to be expectedAnisha Mukhija
MBA Online VS On-Campus
MBA online: As we all know an MBA is not about the classes/lectures. It’s more about the campus, the people, and the environment that helps you transform. Moreover, these factors form a really important part of your MBA journey. But, when something like the COVID-19 crisis occurs, what can be done? Because everything right from college induction, to lectures, exams, internship, placement, and convocation starts happening digitally? Does it lose the essence if it turns to an MBA online? Find out more.
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MBA online: The 7 changes-
1. The ROI (Return on Investment)
- The fees of the prestigious B-schools and top IIMs are in the range of Rs. 3.5-30 lac. The average salary ranges from Rs. 13-65 lac. The chances are that the last trimester (19-21 batch) might shorten up. For the 20-22 batch, the first trimester might be online. These online lectures do not fulfill the value for money that the students are paying.
- IIM Rohtak has reduced its registration fee by Rs.50,000. On the other hand, MICA has split the annual fee into 4 installments. So, all of this is considering the income issues.
- Apart from studying, MBA is also about building a professional network. Networking happens through
- Peers: With whom you live, learn, and develop.
- Staff: These are teachers who teach you. Apart from this, there are a lot of visiting faculties that are in the industry for 10-20 years. Building such a network is very important.
- Seniors: Seniors who help, guide, and learn more.
- Alumni: They mentor you and help you know more about the placements. These are some of the very important contacts/networks that you build.
If the campus MBA goes online, you will mostly be hearing from the professor online. It becomes monotonous and there is no interaction
3. Campus Experience
- A campus is a beautiful place and part of every MBAs life. There are marketing clubs and forums. There are dance, drama, music, etc competitions and committees
- The campus experience also helps you learn more with your peers in groups. In the case of online lectures, you just submit your projects via mail.
- The campus also has various facilities like gym, badminton, football sports. There are inter-college competitions where you can take part and win exciting prizes. More than the prizes, it is the experience that counts.
4. MBA Calendar
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- The normal course curriculum includes- the courses, group projects, industry visits, foreign exchange programs, academic projects, summer internship placements. But most importantly the final placement.
- If the course shifts online, you are only left with courses, academic projects, summer, and final placement.
5. Modes of Learning
- In a typical B-school, you learn through libraries, online libraries, lectures, seniors, alumni, staff, and the campus itself.
- However, this is not the case with online learning. In the case of online learning, it’s majorly monotonous. Also, you constantly need a good network connection so that you don’t miss out on something.
6. Soft skill development
- MBA not only helps in theories and applications but also improves your skills. So, the most important skill that a student develops is interpersonal skills.
- A student develops a lot in terms of his/her personality that makes him industry-ready.
- An online shift has already seen a number of issues for example China.- Students faced a lot of issues like a huge issue in communication. Apart from this, no peer to peer learning with fewer opportunities to present ideas.
7. Practical Knowledge:
- Learning is a mix of theory and practical. We have been learning theory since our school but practical implementation is the key. MBA makes sure you have the practical knowledge which is expected out of you as a manager.
- A student gains this knowledge through Industry visits, Lectures by industry leaders, Conferences, B-school competitions & internships.
So is an online MBA in 2020 a good idea?
- It is for you to decide. But while you decide, make sure you are doing courses in the meantime. Also, do internships to build your resume and knowledge.
- Courses like Business analytics, financial modeling, digital marketing will help you.
- For all of us, 2020 has been a tough year. However, make sure you are making most of your time while you are home.
I hope this article helps you and gives you the necessary insights.
All the very best and keep going!