Online MBA
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(also posted at http://corey.mbadiary.com)
More and more I hear people talking about getting on online MBA, and each time it surprises me. A few months ago, for instance, I ran into a friend of mine who works as an engineer at a blue-chip software company and he said that he is planning on getting an online MBA so he doesn’t have to leave his job to get the degree. I have another friend who was strongly considering an online MBA degree but decided against it (he’s now at Wharton).
I think the reason that it baffles me is that I just don’t see the benefit of an online degree – especially in business. I’m not trying to offend anyone, its just that the primary reason to go to MBA school is not (IMHO) to learn accounting, finance, or any other discipline in isolation. The purpose is to meet people, work in teams, discuss business cases, argue through solutions, and build networks that will help you in your career. Learning a discipline is an integral part, but its not just learning how to do something, but debating why and how in a collegial atmosphere.
During the summer my colleagues and I used our web development software to recreate a site for a medical organization. One of the PhD’s on staff said that he feels his MBA at the
My internal reaction was “so what” – just learning accounting isn’t really the point of an MBA in most cases. There’s really nothing (in terms of books or lessons) in MBA school that you couldn’t just learn on your own. You could read the accounting and finance books at your own leisure or take an evening (or online) course. The real benefit and growth comes from the interactions, the cold-calls, the experience of acting it all out in front of critical peers. I don’t how they do things at UoP, but it doesn’t really make sense online – its all about the personal interactions and relationships.
From a more superficial standpoint, online degrees (and even UoP) are simply just not valued very much in the market. The brand is really weak. Just the other day I was filling out a survey and realized that I was filling out a form to apply to be a UoP teacher. It didn’t leave a great impression with me. I’ve read people refer to them as diploma mills and suggest that your resume is better off without that entry. Because the school advertises so much in seeking teachers and students, its hard for people to take it seriously. Even more so with an online degree were you don’t even physically meet. That’s not to say they can’t provide a great education – they very well may. But, in terms of MBA brand it doesn’t matter much. I’ve heard some Harvard MBA alums say that at HBS its hard to tell how your learning, that the hardest part is getting in, and that the second year is largely a waste of time. Does it matter? No, not really. Nobody will value a candidate with an online degree over an HBS student. And its ok that it may mostly due to the initial filter of selecting the right applicants.
One last thought. When I was visiting schools I noticed that wherever a school was ranked on the pecking order – they assured prospective students that they were ranked just high enough. For instance, at a top 50 school, administrators said “as long as your at a top 50 school, it doesn’t really matter where you go.” They say the same things at a top-10 school. When I was visiting the Stanford GSB, my host said “there are pretty much only two schools worth attending” and at HBS there was only one school worth the investment. So, I admit that my apparent snobbery about online degrees or UoP works for higher ranked schools who look down on BYU as second tier. But of course it all depends on what you want to get out of the program. If you’re applying to a top school to get a trophy that you can show off to family and friends, then go for it! If you just want to learn accounting and finance, probably any online degree will do. But, if you want to get a better job and generally improve your marketability, go to the best school you can get into that matches your needs and goals.
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Hi Corey!,
I enjoyed reading your blog. Curiously enough, I am applying for BYU (the only full-time program that I am applying for), as well as for some well regarded online MBA programs.
I thought that I would share with you some of the things that I learned about online education during my undergraduate experience. Having had the opportunity to attend both a traditional "brick and mortar" school for the first two years and an online institution for the last two, I think that maybe I have some insight into the relative strenghts and weaknesses of both delivery methods.
First, let me say that I do agree with you in your comments about how an online degree is not as marketable as a traditional one. You are right, but I believe this is only because of the erroneous perception that most people have about online learning (mainly thinking that there is less interaction among students and between students and faculty). I think that once people actually learn how an online program works, the online option is likely to become more accepted among recruiters, although I think that the full time MBA will still rule when it comes to commanding higher salaries.
OK, now on to the differences. If you asked me, I would tell you that going to the traditional school was actually easier than learning online. There were a few classes that I could get by without studying, just by listening to the Professor. In the online evironment, you are required to study, because if you don't you will fail very quickly since you cannot rely on just paying attention to the professor.
Student interaction in also required online, whereas it not necessarily always so in the traditional school (remember, my experience only has to do with an undergraduate program, I know that full time MBA's require interaction).
Working in teams is incredibly difficult when you are not physically in the same location, but you are required to do so online. For example, our Bachelor's capstone course required us to create a full business plan for an original organization, complete with all financial statements and actual loan offers from banks, and the whole course from beginning to end had to be completed as a team. If you have never worked in a team project where one of your members lives in Italy, the other one in New York, and so on so forth (I live in California)you have never lived, my friend.
In the online environment, instead of just taking tests, one is required to write papers and create projects for one's grades, so there is just no way to pass a class unless one studies and works with one's team members. I guess what I am trying to say is that in my last two years of college, I had much more interaction with other students, than I ever did in my years at a traditional school.
Finally, I also wanted to mention that online programs are not designed to attract the same group of people that are attracted to a full time program. I am applying for an online MBA program because I have a very good paying job, and the only way that I could get paid more is if I entered into a top MBA program, and I just don't want to give up my salary. In fact, the only reason why I am applying to BYU is because on average their graduates start at about what I make now, and since I am L.D.S. (Mormon), the cost for the BYU MBA would be relatively low.
Anyway, I am sorry if I bored you with this. I just wanted you to understand the reasoning behind someone like me applying to an online MBA program.
Take care and have a great day!
Jose Rosado
Get laid nerd
