MBA providers feared the worst when the pandemic initially struck in early 2020. International students could not travel outside their countries, universities were forced to close, and budgets were slashed. There was a wild rush to enrol in online courses and redesign curricula. However, the Financial Times analysed data from 13 of the top 20 schools on its list and discovered that all of them had received higher applications for the MBA cohort starting later this year than during the same time last year. 

According to recent data, INSEAD saw the most significant increase this year, with a 57% increase in applications for the coming academic year compared to last year. Iese Business School in Barcelona saw a 12% increase and a record number of applications.

Since the lockdowns were implemented in March, other prestigious schools, such as MIT Sloan School of Management, have seen double-digit percentage surges in applications. According to the Financial Times, people take a career pause to upgrade their skills and create a professional network at business schools during a recession and economic instability.

Variety, Online Connection, And Cost-Effectiveness 

Because networking is such a big deal for MBA candidates, elements like class diversity and the online interaction index make sense. 

Understandably, online MBAs emphasize online engagement. University of Florida: Warrington (US), University of North Carolina: Kenan-Flagler (US), and IE are the top three most interactive programs based on this criterion. 

The University of Bradford School of Management (UK) receives the best grade in terms of value for money, followed by Durham University Business School (UK) and Warwick. This criterion considers salaries, scholarships, fees, and other expenses for alumni.

What the Data from Different Schools Say

Warwick Business School (UK) topped the list for the fifth year in a row, owing to its alumni's salary. Three years after graduation, average incomes had risen to US$ 194,864 – a 36% increase over pre-MBA levels. Warwick's online platform, program materials, careers service, and help for developing start-ups all led to the university's success. 

The second-placed Imperial College Business School (UK) has the second-highest average pay of US$D 192,016 and the best score for international mobility and professional advancement. 

The third-place finisher was IE Business School (Spain). It has the biggest ratio of international students (92%) and is ranked first in the environmental, social, and governance (ESG) category.

Online MBAs are becoming increasingly respected and well-regarded

While online MBA programs were initially considered a flimsy, unreliable credential, they are now valued and acknowledged by businesses worldwide. Furthermore, some providers, such as Imperial College, allow students to take optional modules on campus alongside full-time and part-time students, further bridging the gap between on-campus and online programs. 

At Imperial, all students graduate with the same Imperial MBA degree. You'll also have access to the school's alumni network at the same level.

As online MBA programs have grown in popularity and prestige, many have made attracting international students, providing global business immersion opportunities, and even establishing satellite universities in other countries a priority. The ability to meet with other students, instructors, and professionals in an internationally immersive setting can have a significant educational impact, especially for online MBA students who don't see their peers daily.

Also read: What do Fintech’s look for in graduates?