Introduction

MBA programs can be an outlet for more income for many people. For others, it can be a risk that may not convert to more money. Whether online or in-person, completing an MBA requires a lot of time, grit, and money. Nobody should take that lightly. this article will give you what we consider the top ten Online MBA programs of 2024, and some criteria you should consider while choosing a university program. 

The Best MBA Program Criteria 

Choosing the best online MBA program for you involves considering several important criteria to ensure that the program aligns with your career goals, learning style, and personal preferences. Here are some key criteria to consider:

1. Reputation and Accreditation: Look for MBA programs with a strong reputation and accreditation from respected organizations like AACSB or ACBSP. A program's reputation can impact how employers perceive your degree and the quality of education you receive.
2. Program Rankings: While rankings shouldn't be the sole factor in your decision, they can provide insight into a program's overall quality and reputation within the business community. Consider various rankings from sources like U.S. News & World Report, Bloomberg Businessweek, and the Financial Times
3. Faculty Expertise: Research the faculty members teaching in the program. Look for professors with relevant industry experience, research expertise, and a strong record of teaching excellence. Faculty connections and mentorship can greatly enhance your MBA experience.
4. Curriculum and Specializations**: Evaluate the curriculum structure and available specializations to ensure they align with your career interests and goals. Consider whether the program offers the right balance of core business courses and elective options in areas you're interested in exploring
5. Experiential Learning Opportunities: Look for MBA programs that offer hands-on learning experiences such as consulting projects, internships, case competitions, and study abroad opportunities. These practical experiences can enhance your skills and provide valuable real-world exposure.
6. Networking Opportunities: Consider the strength of the program's alumni network and the opportunities provided for networking with classmates, faculty, and industry professionals. A strong network can open doors to job opportunities, mentorship, and professional support throughout your career.
7. Career Services and Placement: Research the career services offered by the MBA program, including job placement rates, internship support, career coaching, and access to recruiting events and employer connections. Strong career services can significantly enhance your post-MBA job prospects.
8. Cost and Financial Aid: Evaluate the total cost of the MBA program, including tuition, fees, living expenses, and potential lost income during the program. Explore financial aid options such as scholarships, fellowships, grants, loans, and employer sponsorship to help offset costs
9. Student Culture and Diversity: Consider the culture and diversity of the MBA program, including the student body, faculty, and program leadership. Look for a supportive and inclusive environment where you can learn from peers with diverse backgrounds and perspectives.

By carefully considering these criteria and conducting thorough research, you can identify the best MBA program for your needs and set yourself up for success in your future career.

Remember, your goals are unique from other students, and many times universities have relationships with local cities and companies from that area, or companies just have relationships with specific schools that send their workforce to up-skill with an MBA which makes that university rank higher or have more positive reviews. That doesn't mean a smaller university program with a much smaller financial ticket will work much better for you.  

Many of the top online-ranked universities may not work for you. Therefore, it is up to you to do due diligence on each university program offered and find one that will give you access to more resources that will get you to your end goal, and that could mean finding a university that has a relationship with a specific company of choice and going there to have that networking r3elationship opportunity and the degree itself is a bit less important. 

Whatever it is that you choose, make sure to make a list of criteria, and go through that list with each university to make the best decision possible. 

Ten of the Top Online MBA Programs 

MBA programs are tough to choose from as there are a lot of choices to make a good decision. Our selection process is primarily done by researching what are said to be the top 50 Online MBA programs in the country. Some universities were rated high that I never heard of that look to be up-and-coming. After digging into each university's history and ratings, a new arrangement of the top ten online MBA programs appeared that you should consider if you're looking to complete an online MBA program.

Each of the universities below are accredited universities, ranked high, have good reviews on faculty placement, and were looked to provide the best online experiences.

Here are what I thought were the top 10 MBA Programs for 2024:

1. North Carolina  Chapel-Hill 
2. Carnegie Melon 
3. Purdue Global 
4. Indiana University Kelley School 
5. Rice University 
6. University of Southern California 
7. Arizona State University 
8. Penn State University 
9. William and Mary University 
10. University of Chicago 

 Many people are not just going for their MBA. Many graduate students also have engineering backgrounds or legal backgrounds and may want to complete an MBA plus an engineering management master's or an MBA and a JD as there is a lot for students who look to practice law and business. Some of the universities above are the best in merging large dual-degree programs. And their online resources are at the top of their fields. So, keep a look out for those schools that are better suited for specific programs, that could give you an edge by completing a dual master's or doctoral degree in parallel with your MBA. 

Online MBA Pros and Cons

Online vs. In-person MBA programs? there are a lot of reasons why someone would choose to complete an online MBA vs. an in-person one. It could be as simple as travel. Whatever the circumstances, here are a few pros and cons of choosing an online MBA specifically. 

Without getting too in-depth on the pros and cons it is worth a quick review. 

Pros 

The pros of online programs are different for everyone, so, this is a small list that will help you reflect on some basic reasons why online MBAs are great. 

1. Remote 
2. Cost 
3. Minimum Interaction 

1. Remote 

Working remotely has its benefits such as time, flexibility, and lower variable costs. You don't need to drive to the university which saves time and money, and you can work where you want to whether it be your home or a local coffee shop. That creates a different level of convenience and is a major plus for online education.

2. Cost 

Online programs typically have a much lower cost of admission. There are many reasons for this, but it is the big reason we all choose one university vs. another is cost. If you see a $15k difference in cost and both programs provide the same value to your goals, the smart decision would be choosing the lower cot ticket. When it comes to online MBA programs, we're looking at a minimum of a $15k cost difference on average per year compared to in-person programs.

Online programs typically have a much lower cost of admission. There are many reasons for this, but it is the big reason we all choose one university vs. another is cost. If you see a $15k difference in cost and both programs provide the same value to your goals, the smart decision would be choosing the lower cot ticket. When it comes to online MBA programs, we're looking at a minimum of a $15k cost difference on average per year compared to in-person programs.

3. Minimum Interaction 

Let's face it, distraction can be a major problem when getting quality work done quickly. Online programs require students to interact with other students typically through an online forum answering questions and such which require limited communication and you can respond any time during the day before midnight. In-person programs require a good amount of interaction, not just on projects, but also, getting a question in at the end of class, or walking out and somebody wants to chat. Whether you are rude and say you'd have other places to be, it does become a small distraction interacting with others. 

Cons 

Value can be created in many ways and many times people think of the easiest ways to complete things and sometimes that isn't the best route forward, that is, like an online degree with basically nobody to talk with versus the unforeseen in-person stuff like talking too long to a classmate or professor. We never know, however, how that person might bring us value down the road by connecting us with a job that brought us a $30k raise.  Below are a few cons to why an online MBA may not work for you.  

1. Networking 
2. Lack of Dialogue

1. Networking 

Networking is not underrated or overrated, it is an essential part of success in any given field. Many people owe much of their success to their network. I know many people who quickly grew their careers and said they got all of their jobs from knowing someone in the company. And trust me, it is hard to get great jobs and be hired without knowing someone, it happens, but it is hard. Networking is like a key that unlocks doors in your career. 

Looking at online vs. in-person MBA programs, there is networking online and you can meet people online, and you can also find events that are in-person to network, however, great MBA programs are part about the education itself, and part networking. The professors and universities push the students to network and provide many opportunities to do so with events within the university. 

2. Lack of Dialogue 

For any online program including MBA programs, your dialogue is on a discussion board. Some online programs do have a live class component to it which makes it easier to have an actual dialogue, however, for those that don't, it is difficult to create dialogue outside of a specific discussion and extend that discussion because many times other students do not reply and only do the minimum. When you're in class in person, and you ask either the professor or another student an extra question, they will respond because they're in front of you. 

Dialogue is important both to learning and to your personal growth and creativity in a subject. The lack of dialogue can deter students from digging into a topic area truly understanding it and having the ability to implement the theory in practice. Dialogue helps professionals apply theoretical concepts. Therefore, it is a con to not have access to more dialogue within the classroom. 

Conclusion

Online MBA programs are great for most, but there are a lot of criteria that are unique to each professional when choosing the right program and university for you. Making sure to look into each piece of your goals and ultimately knowing how the program will help you reach the outcome of your goals is essential to your success as an MBA student. This was a quick article for you to make sure to consider how to research Online MBA programs and know that there are still great university programs out there. These universities hit the mark, enjoy your search!

https://www.usnews.com/education/online-education/mba/rankings

https://www.princetonreview.com/business-school-rankings?rankings=top-50-online-mba-programs

https://www.forbes.com/advisor/education/business-and-marketing/best-online-mba-programs/

https://www.bestcolleges.com/business/mba/