Did you know? 250,369 students are currently enrolled in MBA programs worldwide, according to the AACSB. People can demand greater compensation, advance in their careers, and aspire for better positions within organisations with an MBA degree. Leadership and executive positions may become accessible with this degree. Hence, if you are jumping from websites and mining the SERP for some of the most affordable online MBA programs, this is your spot!
Why You Should Pursue An Online MBA?
As a subject of debate, an online MBA degree can be a smart choice for a few individuals. Depending on various situations, an online MBA degree, if pursued, can help one get outside the hassle of a rigour on-campus class schedule. Adding to that, Online MBAs are more cost-effective and convenient compared to conventional ways. This is your sign to look up the most affordable online MBA degrees, and below are the justifications you need to pursue one:
1. Flexibility
Why would one desire the most affordable online MBA? They are looking for flexibility, a way to balance work and family while keeping an eye on the bright future. Most online MBA programs offer highly adaptable and flexible synchronous and asynchronous learning schedules. This type of degree is curated for professionals who wish to earn full-time, take care of their family or make a career switch.
2. Affordability
Tuition cost is not a concern when it comes to online MBAs. These online programs hold great value for their low cost; one will have to pay a minimum of $5,000 to $10,000 a year. While pursuing the most inexpensive online MBA, students can also adjust how many credits they can take per semester and work while pursuing the same; there will always be an undeniable financial upside. According to a survey, enrolments for online education grew 170%, while open and distance learning enrolments increased by 41.7% in 2022 from 2021.
3. Global Opportunities
A master's in business administration evidently spurs global opportunities. As one might know, the growing popularity of online MBAs has created opportunities for international students residing in third-world countries. Students can explore new horizons by connecting with faculty, students, and study experts in the university sitting hundreds of miles away. Most top affordable online MBA programs create a deep educational impact from a very comfortable setting.
4. Access to Innovative Technologies
The most affordable online MBA programs not only offer a great deal of flexibility but also offer a chance to utilise online tools in this era of cutting-edge business technology. Online platforms like Adobe and ANGLE tend to make learning online more dynamic and visually interactive. In the process of learning online, any individuals become competent enough to troubleshoot any computer deficiencies without any major tech support.
Is an online MBA the same as a regular MBA?
So, let's get this big question out of the way. Are online MBAs similar to regular MBAs? Essentially, both MBAs regulate around the same curriculum; they deliver the same intent of knowledge and practical and theoretical learning. Even if online MBAs are more flexible, one might not be able to master interpersonal and people management skills. Face-to-face interactions have their own set of challenges and perks. Meet-ups and networking might seem like a big task, but it can be overcome with a little bit of effort and initiative.
Most Affordable Online MBA Programs
The world is a lucrative marketplace and with the help of technology, one can access the impossible and ace it. If looking for the most affordable online MBA programs, one must conduct thorough research. Below is a comprehensive list of the most affordable online MBA programs you can pursue with the belief of acquiring great knowledge with a minimised financial burden.
1. University of Liverpool
Duration: 30 months
Tuition: £22,050-£24,000
Eligibility Criteria: Bachelor's Degree ( 2:1 class degree ), three years of experience, GMAT score, IELTS/TOEFL
University Rank: 176
The University of Liverpool online MBA program made its way to the Financial Times top 10 worldwide online MBA programes. As the most affordable online MBA program, it helps candidates analyse and reflect on real-life case studies from other organisations. It also helps in connecting with different professionals from various backgrounds through project and event collaborations. The programme consists of 16 modules and two electives, with over 180 credits required for full accreditation.
2. University of Texas Permian Basin
Duration:3-5 Semesters
Tuition: $11,729.70-$14,075.64
Eligibility Criteria: Bachelor's Degree, GPA of 3.00, GMAT, Documents
University Rank: 52 in the US
The University of Texas Permian Basin offers one of the top affordable online MBA programs. Everyone, regardless of their location, is required to pay the same tuition rates. Candidates have the free will to set their study schedule and complete their coursework whenever it's convenient. The courses are taught by PhD business professionals who are known for their expertise. There are about 12 core and beyond-core courses and 20 electives. It cannot only be considered the most inexpensive online MBA but also a beneficial one.
3. EU Business School
Duration: 1 year
Tuition: € 6,100 per term
Eligibility Criteria: Bachelor's Degree ( 2:1 class degree ), three years of experience, GMAT score, IELTS/TOEFL
University Rank: #81-90
EU Business School offers MBA programs that help students develop an understanding of the international business landscape. It also offers assistance in navigating vital skills like finance, law, communication and management. As one of the most inexpensive online MBAs, EU makes sure students are well-versed in real-life case studies and how business concepts work. This year-long course claims 90 ECTS and offers guest speaker insights, a network with leading professionals and full fundamental knowledge about business. It has got to offer more than just being one of the most affordable online MBAs.
4. Open University UK
Duration: 18 months
Tuition: £21k to £35k
Eligibility Criteria: Bachelor's Degree ( 2:1 class degree ), three years of experience, GMAT score, IELTS/TOEFL
University Rank: 601–800
The Open University UK runs on three major pillars: exceptional quality, flexibility and affordability. As one of the most affordable online MBAs, this program offers unique distant learning with strategic analysis, interdisciplinary skills, creativity and innovation. During the program, candidates will get to connect with peers in more than 75 countries, and after graduation, a candidate will eventually become a member of the powerful Alumni and Careers Network (more than 28,000 members in over 125 countries). As online MBAs are typically pursued by working professionals, explore our guide on Executive MBAs, too!
5. University of North Georgia
Duration: 3-5 Semesters
Tuition: $303 per semester
Eligibility Criteria: Bachelor's Degree, GPA of 3.00, GMAT, Documents, Work Experience
University Rank: #41 in the US
The University of North Georgia has termed its online MBA program as the Cottrell MBA. It is absolutely online and offers over 32 credit hours and more with specialisations. Asynchronous classes with some synchronous components. As the most inexpensive online MBA, it is a convenient option for busy professionals who wish to learn while maintaining full-time employment. If you are interested in a dynamic learning environment, this top affordable online MBA program is the one for you! Ready to navigate your journey towards an MBA in the US? Check out our comprehensive guide for essential resources to help you make informed decisions.
6. Middlesex University
Duration: 1 year
Tuition: $9k-1$1k
Eligibility Criteria: Bachelor's Degree ( 2:1 class degree ), three years of experience, GMAT score, IELTS/TOEFL
University Rank: #661-670
As known to all, an MBA is a stepping stone to career enhancement and professional growth. The MBA courses at Middlesex University are designed to help individuals develop a skill set and acquire the knowledge needed to succeed in the corporate world. This course will be offered in five-week blocks, with two weeks dedicated to assessments and three weeks for instruction. Three days will be allotted for instruction.
7. Southeast Missouri State University
Duration: 1-2 Years
Tuition: $364-$400
Eligibility Criteria: Bachelor's Degree, three years of experience, GMAT score, IELTS/TOEFL
University Rank: #88 in the US
Southeast Missouri State University offers a strong MBA programme for managerial development. Students can complete their MBA in person for interdisciplinary and cross-departmental study, or they can complete it online for working professionals with flexible schedules. The curriculum places a strong emphasis on morality, social duty, and intricate international economic issues. Yet another best and most affordable online MBAs.
Investigating the world of the most affordable online MBA programmes leads to a multitude of chances for both professional and personal development. The universities mentioned flaunting their flexibility, high-quality instruction, and the development of transferable skills in addition to being cost-effective. With the help of these resources, aspiring business professionals can achieve their academic and professional goals without sacrificing their capacity to support themselves financially. Lastly, if you are confused as to which MBA programs in the world would suit your expertise, tap on the link!