2023’s Most Affordable Online MBA Programs | OnlineMBA.com (2023)

FAQs

Which is the best budget online MBA in the world? ›

The University of the People ranks number one as the cheapest online MBA. UoPeople is a tuition-free, accredited online university that provides an MBA that is unparalleled in cost and quality of education. The online Master of Business Administration is merely one of their top Masters programs available.

An online MBA degree can cost between $5,000 and $60,000+ per year. Many of the top online MBA programs cost the same as on-campus MBA degrees. This means that some online MBAs are affordable and some are expensive.

Online MBAs can be worth it if you're prioritizing cost and flexibility, and are ready to embrace online interaction with your peers and professors.

An online MBA essentially gives you a splendid return on your investments if you're a working professional who is working while acquiring the prestigious MBA degree through online mode of learning. In such a case, you earn both money and a degree at the same time. You save money as well as time and so it is a win-win!

These MBA colleges with low fees are spread across the country and charge a fee in the range of Rs.50,000 to Rs.10 Lakhs for the complete 2 year full time residential MBA programme as against other top MBA colleges like IIMs, XLRI, MDI, SPJIMR which have a fee structure between 17 lakhs to Rs.24 lakhs.

In India, based on MBA aspirants' feedback, the Common Management Admission Test CMAT is the easiest MBA (Master of Business Administration) entrance examination. I hope this will help you. CAT is the toughest because its score is used by legacy IIMs which are the best B-Schools in India.

What is the starting salary after MBA? ›

An MBA professional in India can earn a starting salary of Rs. 10-12 lakhs per year. The average starting salary for an MBA graduate in India is Rs. 9 lakhs per year.

In 2019, TransparentCareer analyzed salary insights from MBA graduates between 2009 to 2018 and found that MBA graduates increased their salaries by an average of $36,742, from $79,505 before seeking their degree to $116,248 after earning their degree [8].

There is no one particular answer to this question, but generally, a score lower than 3.4 GPA may be considered a low GPA. If you wish to target the top MBA programs, you may want to have a safe ground at 3.4 and above. The average GPA score to join an MBA course for the top 50 universities lies between 3.4 and 3.7.

The highest-paying MBA concentrations include consulting, finance, and technology. Choosing a concentration can give MBA graduates high earning potential.

Do employers accept online degrees? In general, employers should treat an online degree the same as they would a campus-based degree. Most employers care far more about the quality of the school than the delivery format of the degree.

The time commitment for Olin's Online MBA requirements is 15 to 20 hours per week, or three courses per semester.

An online MBA prepares learners to excel in any job role. A wide-range of prospects available after successful completion of online MBA. You can find many options such as jobs in the leading companies and higher education at the top universities in India and abroad.

Do Employers Care Where You Get Your MBA? The answer depends on your intended employer. Some companies focus on where candidates earned their MBAs, while others prioritize the degree specialization or relevant work experience.

After pursuing an online MBA, you will be able to get an average salary package of INR 4-6 lac per annum.

How hard is an MBA online? ›

An online MBA degree has the same difficulty level as any business program. In addition, learners need to possess discipline, time management, and exceptional organizational skills to stay on top of their work.

According to GMAC's Corporate Recruiters Survey, in 2021, the average starting salary for MBA holders was between 22 percent and 40 percent higher than for bachelor's degree holders. Seventy-one percent of corporate recruiters agree that employees with a business school education earn more at their companies.

Cost of Studying MBA in USA

In terms of tuition fees, MBA in USA expenses for Indian students averages approximately 50 lakh rupees or 65,000 USD per year. Living expenditures, which are estimated to be approximately 15 lakhs or 19,700 USD per year , are added to this cost.

A: Yes, the cost of MBA in foreign universities is more than that in India. An MBA abroad may cost at least between INR 20 to 50 lakh but in India, MBA fees start from INR 5 lakh onwards.

The average tuition fee for an MBA degree is around $50,000 – $60.000 per year. This fee excludes living expenses like accommodation and other miscellaneous expenses like books and gear that you need to buy during the course of your studies.

Is an MBA harder than a master's? The difficulty of a program depends entirely on the institution. Both an MBA and master's in business are graduate-level programs, and meet the same rigorous academic standards.

Also called a one-year MBA, accelerated programs take as little as 12 months. Most accelerated MBA programs take 12-18 months. This program length saves students time compared to a traditional MBA, which usually takes two years for full-time students.

You need to figure out what you wish to accomplish with your degree and what skills are you looking to gain. So, if you are willing to gain overall business management skills, an MBA course is a clear choice, while if you wish to acquire niche skills, a Master's degree is ideal for you.

Is MBA or MBA better online? ›

They are as follows: If any student is lacking a flexible work schedule or is bound by geographical restrictions, choosing online MBA courses would be best for him. In case you are not tech-savvy or living in places where internet access is a problem, going with regular MBA programs would be the best option.

The value of both the MBA courses is deemed equal to that of a regular MBA and offers prospects a higher-paying job.

The course MBA either regular, online, or distance is a master's level program available for 2 years and is offered in various specialisations. Both the courses are equal in the eyes of the law as online and distance education has been approved of equal value by the University grants commission (UGC).

Nearly all of the top 50 MBA programs reported starting salaries of over $100,000 per year. And other factors — including location, experience, and industry — can play a significant role in your MBA salary.

This report also says that while the expected remuneration of an IT graduate is ₹945,852, the salary expectations of an MBA graduate are at ₹924,660.

In short, an MBA is as difficult as you make it, and is as rewarding as you invest in it. In the business world, there is rarely any hand-holding. You either develop into a competent business expert or are surpassed by the competition.

As of Mar 5, 2023, the average annual pay for an Entry Level MBA in California is $78,231 a year. Just in case you need a simple salary calculator, that works out to be approximately $37.61 an hour. This is the equivalent of $1,504/week or $6,519/month.

Why is the MBA salary so high? MBA salaries are high due to the valuable education, experience, and specialized skills graduates possess. Additionally, MBA programs have established networks with top companies, leading to high-paying job opportunities.

In today's job market, the starting salary of an MBA graduate is INR 4,00,000 per annum. On average, the highest paying jobs after MBA offer a salary of INR 4,00,000 to 32,00,000 per annum, depending on the domain and specialization.

Introverts can find fulfilling and lucrative MBA jobs in finance, information technology, and business.

Will MBA be in demand in future? ›

The demand for MBA will never diminish because the degree has so much more to give applicants and to help them achieve their goals. The popularity will continue to rise for years and decades to come, and it will never be outmoded.

Highest Average MBA Salary

Among the 131 ranked full-time MBA programs that reported salary data to U.S. News in an annual survey, the overall average base salary plus bonus paid to 2021 graduates was $105,684.

MBA admissions requirements vary, but in general, students with at least a 2.5 GPA in the last 60 hours of their undergraduate studies are encouraged to apply to graduate business programs. These are not hard-and-fast rules, as MBA admissions counselors sometimes consider other factors.

When one aspect of your MBA application is weaker, you want to maximize other areas. Keep in mind that there's no specific cutoff for a GPA or test scores. Every year we work with clients who have had sub-3.0 GPAs and they are still accepted into their target MBA programs.

One of the most popular MBA specializations in India amongst female candidates is Human Resource Management.

According to the BLS, some of the highest-paying management occupations related to MBA concentrations include computer and information systems management, financial management, marketing management, and human resources management.

Does it matter where people get their MBA? Yes, the brand of the degree usually predicts the type of student peer group, recruiting opportunities, and overall return on the investment, inclusive of salary potential and MBA networks.

On average, most online MBA degree programs last about two to three years. Many programs use a cohort approach to coursework. This means that a group of students enter the program together and progress through all requirements together.

Yes, online MBAs are easy to get into. Fortunately, that doesn't mean online programs are in any way inferior to programs held physically in classrooms. The work tends to be every bit as challenging, and the resulting degree is every bit as credible.

According to GMAC's Corporate Recruiters Survey, in 2021, the average starting salary for MBA holders was between 22 percent and 40 percent higher than for bachelor's degree holders. Seventy-one percent of corporate recruiters agree that employees with a business school education earn more at their companies.

Which MBA is best for future? ›

Earning an MBA can lead to career advancements, which can result in an increased salary of of almost double what you were making prior to the program, according to the U.S. Bureau of Labor Statistics (BLS) While an MBA program typically costs between $50,000 and $100,000, students tend to earn a higher salary from it.

If you decide to use your savings, don't forget to keep enough on hand for emergencies. A rule of thumb is to save an amount equal to at least six to nine months of regular living expenses.

Traditionally, finance, marketing, HR, operations, and entrepreneurship are some of the most sought-after and the best MBA specializations and are considered safest by many students.

Are online MBAs respected – and are online MBAs worth it? The simple answer is yes. Many employers view online MBA programs as being just as credible as traditional on-campus programs. They understand that the quality of an educational program depends on more than just the delivery method.

A full-time MBA program usually takes 1 to 2 years to complete. From online to on-campus and full-time to part-time, you can choose from a variety of programs based on your needs. The number of years or months it takes to complete your MBA will vary based on the path you choose.