Sergio is an Information Technology Manager at a mid-sized company in San Jose, California. He graduated from a good state university and now wants to work towards the MBA degree. Like many ambitious adult learners, Sergio wanted to attend a Top 20 MBA Program. He found the list of Top 20 MBA Programs in Business Week.
However, he soon found out that the Top 20 MBA Programs had many disadvantages for the working professional. Here are some of these disadvantages:
• Few schools in his area are on the Top 20 list so he would have to quit his job and move to Chicago or Boston or another city.
• Almost none of the Top 20 was part time or online and a full time school would not work with his full time job.
• Competition is fierce and Sergio's 580 (out of 800) score on the Graduate Management Admission Test (GMAT) would probably eliminate his changes for admission.
• The cost of these Top 20 MBA programs runs between $75K - $150K.
Sergio found a Top 20 program at the University of North Carolina and that program now offers a distance learning MBA with a few residencies on campus. His company's tuition reimbursement policy is generous but with UNC's cost at $89K, he still would be paying almost $60K out-of-pocket.
There are some prestigious MBA programs that are part time and online. Adult learners may have to look at the Top 50 instead of the Top 20, but these part time, online MBA programs are all AACSB accredited (Association to Advance Collegiate Schools of Business, the top 25% of business schools in the country).
Adult learners will still need a good undergraduate GPA (usually over 3.0 and maybe, 3.2) and a good GMAT score (high 500's). Some of these schools have residency requirements, so students have to attend the campus for a 3-day orientation or a few weekends during the program.
Some of the more prestigious part time, online MBA Programs are: Arizona State University, Drexel University, Indiana University Kelley Direct, Northeastern University, Penn State University, University of Baltimore, Boston University (not the MBA, but the MS Management with concentrations).
There are some definite advantages of distance learning programs. Most are online, but some schools offer DVD's of the lectures or streaming video and other learning options. Online schools offer more program options. Students are not limited by the majors offered by their local colleges. The online schools attract networking opportunities for employees from multiple industries all over the US.
The disadvantages of distance learning programs are the expense, limited access to professors and the online option may not fit all Learning Styles. Online schools are generally more expensive than local colleges. Even state universities charge more for their online programs.
Top 20 MBA programs are generally full time, in the classroom, competitive and expensive. Other prestigious Online MBA programs may work for adult learners and allow them to keep their jobs and stay within their Tuition Reimbursement Amounts.
