In today’s fast-paced and competitive business environment, many professionals are obtaining a Master of Business Administration (MBA) degree to develop their careers and acquire a competitive advantage. Traditionally, getting an MBA meant going to classes on a physical campus, which frequently meant taking time off work and relocating to a new location. With technological improvements and the rise of online education, however, getting an MBA online has become a practical choice for many working people. However, before delving into the realm of online MBA programmes, it is critical to understand the costs and variables to consider. In this blog, we will discuss the cost of doing an MBA online.
The cost of an MBA online in India can vary based on a number of criteria, including the institution’s reputation, the length of the programme, and the manner of delivery. However, the average online MBA cost is between INR 2 lakhs and INR 20 lakhs.
Let us look more closely at the aspects that influence the cost of an MBA online in India.
1. The Institution’s Reputation: The reputation of the school that offers the MBA programme is critical in deciding its pricing. Online MBA programmes at top-tier universities such as IIMs (Indian Institutes of Management) and ISB (Indian School of Business) can cost up to INR 20 lakhs. Lesser-known colleges, on the other hand, may offer online MBA programmes for as little as INR 2 lakhs.
2. The Program’s Duration: The cost of an online MBA programme can also be affected by its duration. Most online MBA programmes in India last between one and two years. Shorter programmes may be less expensive than lengthier ones. Shorter programmes, on the other hand, may not cover all of the essential topics and may not provide for adequate time for practical learning.
3. Delivery Mode: The form of delivery of the online MBA programme might also have an impact on its price. Some programmes are totally online, while others need students to attend classes on campus for a set length of time. Programmes that require on-campus attendance may be more expensive owing to added fees such as transport and lodging.
Aside from these charges, there are also application fees, test fees, and study material costs connected with taking an MBA online in India. These charges may differ depending on the institution and should be included when estimating the overall cost of the programme.
It is crucial to note, however, that taking an MBA online in India might be a more cost-effective option than typical on-campus programmes. Online programmes have various benefits, including flexibility, convenience, and price.
Flexibility:
Online MBA programmes allow students to study at their own pace and on their own schedule. This is especially useful for working individuals who are unable to attend on-campus classes owing to job obligations.
Convenience:
Because students may study from anywhere with an internet connection, online MBA programmes are convenient. This removes the need for relocation or travel costs.
Affordability:
Because of fewer overhead expenditures including as infrastructure and teacher salaries, online MBA programmes are often more economical than traditional on-campus programmes.
Given the growing global interest in pursuing an MBA online, particularly among working professionals, many top MBA colleges, including IIMs, XLRI, and other top B-schools in India, have launched quality Online MBA programmes that are as good as classroom MBA and lead to the same skill grooming, experiential learning, and case studies as you would have experienced in classroom courses, but at a much lower fee.
Average online MBA cost: INR 1,00,000 – INR 3,00,000
Here is the list of costs offered by some well-known institutes –
Symbiosis Online MBA – INR 1,00,000/-
Amity Online MBA – INR 2,53,000/-
LPU Online MBA – INR 1,56,000/-
IGNOU Online MBA – INR 62,000/-
SP Jain Online MBA – INR 12,00,000 – INR 14,00,000/-
ICFAI Online MBA – INR 2,20,000/-
SRM Online MBA – INR 2,00,000/-
Jain Online MBA – INR 1,20,000 – INR 2,50,000/-
Due to its flexibility, lack of actual classroom attendance, and affordable costs, among other things, the Online MBA has gained popularity among MBA applicants in recent years, particularly among the working class. Furthermore, AICTE, UGC, and the Ministry of HRD have authorised and recognised these Online MBA programmes in India. Read on to learn about Online MBA, what its primary USPs and highlights are, which top B-schools, including IIMs, offer online MBA, curricula, their information, duration, fees, and entrance requirements, among other things. Flexibility, convenience, and cost-effectiveness are all advantages of online MBA programmes over traditional on-campus programmes. However, there may be certain disadvantages to online MBA programmes. They may not have the same networking chances and face-to-face contacts with lecturers and classmates as regular programmes. Overall, an online MBA may be the best option for working people looking to better their careers without interfering with their job or personal life.
Finally, doing an MBA online in India might be a more cost-effective option than typical on-campus programmes. However, while selecting an online MBA programme, it is critical to evaluate numerous criteria such as the institution’s reputation, programme duration, and manner of delivery. Other charges, such as application fees, test fees, and study materials, should also be considered when estimating the entire cost of the programme.
