Top Online MBA Programs
Learn more about the benefits of getting your MBA degree online. Discover several of the top-rated online MBA programs in Australia.
An MBA is a master of business administration, one of the most popular college degrees in not only Australia, but the rest of the world. Many of the most successful individuals in the world, such as Phil Knight, Michael Bloomberg and Warren Buffet all have MBAs. Not only does an MBA look great on a resume, but it gives you a wide range of business skills applicable for most careers.
There are several different types of MBA programs available. Full and part-time programs are traditional MBA courses taught at a college. Full-time takes between one and two years, while a part-time program is around three to four years of completion. Another option is executive, which is similar to part time but is centered around traditional working hours, letting you stay employed while getting your education. The newest option, which is greatly increasing in popularity, is an online MBA program.
What are the Benefits of an Online MBA Program
In the past, there was a stigma against online programs. While some critics are still skeptical over the quality of online classes, nearly all of the universities have embraced online learning. There is no shortage of accredited professors teaching online classes identical to their in-person courses. Universities are also investing more resources into online classes, improving both student and teacher resources.
The reason so many universities are investing in online programs is due to the number of benefits. Many students are unable to attend in-person classes because they have other responsibilities, such as working or caring for a family member. There are also students who are unable to reliably travel to university each day. Online classes eliminate both scheduling and distance problems.
Because MBA programs are largely lectures and assignments, it is even easier to setup an online program. Students can listen to lectures and complete assignments at their leisure. Many employers encourage online MBA programs because it lets their employees continue to work while pursuing a degree. Because of this, many employers offer financial assistance to employees taking an online MBA program, in some cases covering all of the cost. Even if you are paying out of pocket, online MBA programs are typically less expensive because the school has fewer resources to worry about hosting an online class. Students also save money by cutting out travel and room and board costs.
What Skills are Taught in an Online MBA Program
The subjects covered in an online MBA program are the same as an in-person class. Part of what makes MBA programs so popular is the number of subjects covered. Not only do you improve your skills in numerous areas, but all of the skills are sought after by employers because they are applicable to practically every business.
A large focus of MBA courses is on business communication and strategy. This includes how to develop an effective marketing campaign, researching your opposition and how to motivate and lead your team. You also learn effective communication between employees, clients and your competition. MBA courses include accounting, finance and economic lessons, as well as a focus on business ethics and legality.
Australian Graduate School of Management (AGSM)
While Australia has many of the top ranked business schools in the world, AGSM stands out from the rest. It is the only school ranked on the global top 10, taking the number four spot as of writing. It is also one of the most diverse schools as well, featuring one of the highest percentages of female business majors. There are several MBA programs available, but the school is most known for their MBAX program. In order to qualify, you must have two letters of recommendation and either two years of managerial experience or six years of professional work experience. Because it is such a prestigious university, it has a higher cost of admission, even for online programs. MBAX entry is almost $60,000, but other MBA programs from AGSM are less expensive.
SP Jain Global’s Executive MBA (EMBA)
EMBA stands out as one of the most affordable online MBA programs in Australia. The course only costs $15,000 and takes less than two years to complete. EMBA was built as an online program, so all the professors are already used to hosting digital classes. The program is part of SP Jain’s Engaged Learning system, which provides the most up to date technology to professors, further enhancing the quality of the program. All of the student resources receive the same treatment, making all the material easily accessible even if you never took an online program before.
Macquarie Business School
Macquarie is another highly ranked business school. It is considered the 19th best globally, but the second best in Australia. Macquarie teaches a specialized MBA course centered around six skills. These are leading, strategizing, analysis, influencing, adapting and problem solving. The school prides itself on only teaching lessons with relevant, real-world experience for students. It is one of the longer courses, taking 20 months to complete. To apply, students must have at least a GPA of 5 and an IELTS certificate with a minimum score of 7. Despite being one of the highest ranked schools in the county, it has a reasonable tuition cost of $33,500.
Deakin Business School
Deakin is praised for both their online and in-person business programs. The university was one of the first to fully adapt cloud technology as part of the online classes. This solved many of the earlier issues students experiencing trying to access online lessons. Because Deakin places such an emphasis on online courses, there are multiple MBA programs available. MBA courses begin in March, July or November and require 12 credits to complete. Students have more flexibility in how they pick their classes, allowing them to create a custom schedule that focuses only on skills relevant to their career choices.
The scheduling flexibility also allows students to complete the program faster. While most students require 30 months, it is possible to get all the necessary credits in roughly half the time. To qualify, you must have at least a bachelor’s and three years of relevant work experience, or five years of general work experience. Deakin is one of the more expensive colleges, with the online MBA program costing around $53,000.