Is an online MBA worth the cost? What are the best online MBAs out there?

Six years ago, we wouldn't be having this conversation. That is the first, and in many ways, the most important, thing to remember about Online MBAs. They are new. Brand new, really. And they have to be approached the same way we approach any new product, namely, with a blend of optimism and caution. We here at Forster-Thomas have seen quite a few clients evaluate or choose online, executive and part-time MBA options, and we have helped people make those decisions. As such, we felt it was high time someone helped people understand the pros and cons of online MBAs. Hence, this article.
INTERNSHIPS ARE TRICKY. On-campus recruiting and internships are much diminished in online MBAs. Schools are working to counter this as best they can, but it will be years (probably many years) before career-shifters are well-served by the online option.
So why would you do an online MBA? Well, there are several
THE PROS
THE PROFESSORS (AND STUDENTS) ARE TOP-NOTCH. The myth that an online MBA is isolating is just not true. The top programs go to great lengths to make sure students are speaking with professors and each other at least once a week. Courses,
FLEXIBILITY IS UNMATCHED. A top-20 MBA (or an M7 MBA, if you're that kind of elitist) remains the Lamborghini of degrees. But not everybody is equipped to drive one, and not everybody needs one. And for some people, the sacrifices involved in getting one aren't worth the trade-off.
Consider the following -- you may not be one of the lucky few who's able to take time off your job AND go into mountains of debt -- and even if you are, and even if you do get that promotion or career change you're angling for, that kind of money may take 5-10 years to earn back, making the ROI less attractive at 2-year programs.
Some students aren't able to travel the long distances required to learn at a top institution. Family or other life circumstances hold them back. Their options are to go with a potentially sketchy local or community college degree, or an online MBA. The online may well be the better choice of those two.
You may be in an age range MBA programs don't target, or your career experience may not be in line with your academic ability, and therefore you can't get accepted to a program that's rigorous enough to challenge you (and provide you with all that fantastic on-campus recruiting so many crave). Again, that makes the online more attractive.
WHO IS IT GOOD FOR?
It's a mistake to think of the online MBA as an 'alternative', or worse still, a 'replacement' for the traditional 2-year. It isn't now, and it may not be for a long time. But executive MBAs, part-time MBAs, night-weekend MBAs and Mini-MBAs may indeed be threatened, and ultimately subsumed by this newcomer.
The best thing about the online MBA is that you don't have to give up your job, move or commute. Therefore, right now it's best for people who are happy with their current situation but want to move up the ladder. If you are promoted internally while earning that degree, as many online MBA students are, your next lateral move won't be concerned with how you earned your MBA, simply that you have it. After all, the best online MBAs make no distinction as to where or how the degree was earned. A Kenan-Flagler MBA is a Kenan-Flagler MBA.
It's also a great option for people who are, for whatever reason, outside the realistic target of the top 20 MBA programs. You get a much more valuable degree at a lower cost, a better education, and better networking
It's probably not the right choice for emigres, career shifters, or people entering highly selective hiring processes -- yet. But give it time. As certifications and skill tests grow in popularity, employers will have a more objective way to judge achievement than a name on the diploma -- and at that point, it's anybody's party.
HOW TO GET IN
Top online MBAs are extremely selective, with between 25 and 45 percent acceptance rates. Those numbers are in line with many excellent
So how can you make yourself appealing? All the typical rules of the MBA game apply (we wrote a whole book about it!), but the online degree does a few tweaks and twists. Students should be prepared to explain why the online MBA specifically is right for
Do you have questions about your particular situation? Call us, we'll be happy to help.
Courting Regina: how to kick butt on your Columbia GSB application
Are you ready to be the Queen Bee of GSB? Check out our tips to figure out how you can optimize your essays, recommendations and application.
Photo by Paramount, Article by Ben Feuer
Hopefully, everyone in the universe has seen Mean Girls. If you haven’t, go Netflix it. One of the most memorable characters in the coterie of teenaged back stabbers that form the core of the film is Regina George. Regina’s pretty, smart, and has everything going for her … except self-esteem. She’s insecure to the point of absurdity, and feels the need to smash anyone who looks like a threat to her.
Regina George didn’t go to Columbia GSB, but if she had, she would’ve fit right in. Of all the top business schools, Columbia is the one most afflicted with a Napoleon complex. Perhaps it’s because they struggle in the rankings compared to their somewhat loftier brethren in the Northeast. Perhaps it’s because their New York location makes them hypercompetitive. Whatever the reason, Columbia is the top B-school that is always looking for a way to belong.
You can get a great MBA education at Columbia, and it’s a fantastic feeder for all the usual post-MBA roles, including private equity, investment banking, consulting, and entrepreneurship. But in order to get in, you’re going to have to court Regina. She’s temperamental, but worth the trouble.
So what are the keys to success?
Apply early. Because of its unusual rolling admissions process and binding early decision, Columbia fills its class more quickly than its competition. This is one of the many ways they try to lock in top students. You can’t fight this, so it’s best to embrace it. If you’re considering Columbia, you give yourself the best chance by applying as early as possible -- August 1st is ideal.
Be powerful. Queen bees are drawn to self-confident people with obvious social standing and the ability to command a room. Think about how you can demonstrate transformative leadership in your recommendations, essay two, and essay three. And if you don’t know what leadership is, read our book.
Take action to understand her. The absolute worst thing you can do in a Columbia application is make it obvious to them that you’re just using them as a safety school for their competition: Harvard, Stanford, and Wharton. The best way to combat that impression, aside from applying early, is to take actions to integrate with and understand the Columbia community. Then, write at length about the research that you’ve done in your Columbia essay one and essay two, naming names and citing specific details. By showing you understand the unique appeal of the school, you make yourself more appealing.
Be pleasant. Columbia’s essay three asks what your cluster mates will be pleasantly surprised to learn about you. For whatever reason, a lot of people overthink this and try to make it into a referendum on their professional accomplishments, leadership, or general all-around awesomeness. By doing this, you reflect exactly the kind of insecurity that Columbia wants to avoid. Whatever you choose to write about, it should first and foremost be something pleasant. Not depressing, not impressive, pleasant. If it can be impressive as well as pleasant, obviously that’s great. But if you have to choose one, just make it clear that you’re an easy person to get along with, that you’re relatable, and that you don’t have an overinflated ego. There’s only room for a single Regina in a relationship.
So there you have it! These guidelines should help you prepare a top-notch application to Columbia. But if you have more questions, feel free to reach out to me and I’ll be happy to help.
Essay Prompts and Strategy -- London LBS 2014-2015
Forster-Thomas takes a peek inside this year's LBS application and gives you insight on how to answer their questions.
By Ben Feuer
What are your post-MBA plans and how will your past experience and the London Business School programme contribute? (500 words)
This is a textbook 'goals' essay. Check out our previous posts on goals, or our book, for a sense on how to approach this.
How will you add value to the London Business School community? (300 words)
This is another part of the same goals essay, focusing on your contributions to the school. Read our previous posts, and remember to use specific stories drawn from your life to support the points you make about yourself.
Is there any other information you believe the Admissions Committee should know about you and your application to London Business School? (400 words)
The prompt is completely open-ended, which means you can discuss anything you have not discussed elsewhere. One strong approach is to focus on a 'defining moment' and how it shaped you as a person – it can be something that happened on the job, but often the strongest examples of these essays come from digging deep and getting personal – talking about real, meaningful challenges you face with family or friends. You can also consider using this for additional leadership material, or discussing diversity experiences, or talking about your values.
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Duke Fuqua 2014-2015 Essay Prompts with Analysis

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