Wednesday, November 16, 2005
Online MBA
More and more I hear people talking about getting on online MBA, and each time it surprises me. A few months ago, for instance, I ran into a friend of mine who works as an engineer at a blue-chip software company and he said that he is planning on getting an online MBA so he doesn’t have to leave his job to get the degree. I have another friend who was strongly considering an online MBA degree but decided against it (he’s now at Wharton).
I think the reason that it baffles me is that I just don’t see the benefit of an online degree – especially in business. I’m not trying to offend anyone, its just that the primary reason to go to MBA school is not (IMHO) to learn accounting, finance, or any other discipline in isolation. The purpose is to meet people, work in teams, discuss business cases, argue through solutions, and build networks that will help you in your career. Learning a discipline is an integral part, but its not just learning how to do something, but debating why and how in a collegial atmosphere.
During the summer my colleagues and I used our web development software to recreate a site for a medical organization. One of the PhD’s on staff said that he feels his MBA at the University of Phoenix was the best thing ever. It was staffed by working professionals as teachers that really know their subject matter. He felt the coursework was very demanding and he came out really having mastered several things such as accounting. He felt like traditional MBA programs are “soft” in many respects.
My internal reaction was “so what” – just learning accounting isn’t really the point of an MBA in most cases. There’s really nothing (in terms of books or lessons) in MBA school that you couldn’t just learn on your own. You could read the accounting and finance books at your own leisure or take an evening (or online) course. The real benefit and growth comes from the interactions, the cold-calls, the experience of acting it all out in front of critical peers. I don’t how they do things at UoP, but it doesn’t really make sense online – its all about the personal interactions and relationships.
From a more superficial standpoint, online degrees (and even UoP) are simply just not valued very much in the market. The brand is really weak. Just the other day I was filling out a survey and realized that I was filling out a form to apply to be a UoP teacher. It didn’t leave a great impression with me. I’ve read people refer to them as diploma mills and suggest that your resume is better off without that entry. Because the school advertises so much in seeking teachers and students, its hard for people to take it seriously. Even more so with an online degree were you don’t even physically meet. That’s not to say they can’t provide a great education – they very well may. But, in terms of MBA brand it doesn’t matter much. I’ve heard some Harvard MBA alums say that at HBS its hard to tell how your learning, that the hardest part is getting in, and that the second year is largely a waste of time. Does it matter? No, not really. Nobody will value a candidate with an online degree over an HBS student. And its ok that it may mostly due to the initial filter of selecting the right applicants.
One last thought. When I was visiting schools I noticed that wherever a school was ranked on the pecking order – they assured prospective students that they were ranked just high enough. For instance, at a top 50 school, administrators said “as long as your at a top 50 school, it doesn’t really matter where you go.” They say the same things at a top-10 school. When I was visiting the Stanford GSB, my host said “there are pretty much only two schools worth attending” and at HBS there was only one school worth the investment. So, I admit that my apparent snobbery about online degrees or UoP works for higher ranked schools who look down on BYU as second tier. But of course it all depends on what you want to get out of the program. If you’re applying to a top school to get a trophy that you can show off to family and friends, then go for it! If you just want to learn accounting and finance, probably any online degree will do. But, if you want to get a better job and generally improve your marketability, go to the best school you can get into that matches your needs and goals.
I think the reason that it baffles me is that I just don’t see the benefit of an online degree – especially in business. I’m not trying to offend anyone, its just that the primary reason to go to MBA school is not (IMHO) to learn accounting, finance, or any other discipline in isolation. The purpose is to meet people, work in teams, discuss business cases, argue through solutions, and build networks that will help you in your career. Learning a discipline is an integral part, but its not just learning how to do something, but debating why and how in a collegial atmosphere.
During the summer my colleagues and I used our web development software to recreate a site for a medical organization. One of the PhD’s on staff said that he feels his MBA at the University of Phoenix was the best thing ever. It was staffed by working professionals as teachers that really know their subject matter. He felt the coursework was very demanding and he came out really having mastered several things such as accounting. He felt like traditional MBA programs are “soft” in many respects.
My internal reaction was “so what” – just learning accounting isn’t really the point of an MBA in most cases. There’s really nothing (in terms of books or lessons) in MBA school that you couldn’t just learn on your own. You could read the accounting and finance books at your own leisure or take an evening (or online) course. The real benefit and growth comes from the interactions, the cold-calls, the experience of acting it all out in front of critical peers. I don’t how they do things at UoP, but it doesn’t really make sense online – its all about the personal interactions and relationships.
From a more superficial standpoint, online degrees (and even UoP) are simply just not valued very much in the market. The brand is really weak. Just the other day I was filling out a survey and realized that I was filling out a form to apply to be a UoP teacher. It didn’t leave a great impression with me. I’ve read people refer to them as diploma mills and suggest that your resume is better off without that entry. Because the school advertises so much in seeking teachers and students, its hard for people to take it seriously. Even more so with an online degree were you don’t even physically meet. That’s not to say they can’t provide a great education – they very well may. But, in terms of MBA brand it doesn’t matter much. I’ve heard some Harvard MBA alums say that at HBS its hard to tell how your learning, that the hardest part is getting in, and that the second year is largely a waste of time. Does it matter? No, not really. Nobody will value a candidate with an online degree over an HBS student. And its ok that it may mostly due to the initial filter of selecting the right applicants.
One last thought. When I was visiting schools I noticed that wherever a school was ranked on the pecking order – they assured prospective students that they were ranked just high enough. For instance, at a top 50 school, administrators said “as long as your at a top 50 school, it doesn’t really matter where you go.” They say the same things at a top-10 school. When I was visiting the Stanford GSB, my host said “there are pretty much only two schools worth attending” and at HBS there was only one school worth the investment. So, I admit that my apparent snobbery about online degrees or UoP works for higher ranked schools who look down on BYU as second tier. But of course it all depends on what you want to get out of the program. If you’re applying to a top school to get a trophy that you can show off to family and friends, then go for it! If you just want to learn accounting and finance, probably any online degree will do. But, if you want to get a better job and generally improve your marketability, go to the best school you can get into that matches your needs and goals.
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Interesting post and comments from you. Not all online MBA programs are created equal. I attend one that is not only accredited but also is "ranked" in the top 30 programs in the country. (Higher than BYU if you're interested and not offended...)
I strongly disagree that such a program doesn't entail the network, team work, discussion of business cases etc. As a matter of fact, I have found it to be far more interactive than my undergraduate studies where I was in a traditional brick and mortar environment. I not only have the exact same curriculum, professors, and standards from the ground campus, but I also find that you are actually far more "visible" in this environment. Each time you "raise your hand" in a virtual environment everyone sees you. Professors actually respond and take the time to interact even if it's not within a certain window or office hour block. I have spent many hours in physical classrooms where one can simply sit and rot away without ever being noticed. Business is done largely via email, conference calling, and through virtual teams. Learning how to communicate and "gel" with your classmates in such an environment is very timely and applicable in today's marketplace. There has been nothing "isolated" with my MBA experience. Far from it! Lastly, once I graduate this year I will have the exact same degree and credentials as those from my ground campus. ...and back to the ranking thing...since apparently that's much of what is marketed...I will graduate from the WP Carey School of Business at Arizona State University. BTW...where is BYU ranked?
I strongly disagree that such a program doesn't entail the network, team work, discussion of business cases etc. As a matter of fact, I have found it to be far more interactive than my undergraduate studies where I was in a traditional brick and mortar environment. I not only have the exact same curriculum, professors, and standards from the ground campus, but I also find that you are actually far more "visible" in this environment. Each time you "raise your hand" in a virtual environment everyone sees you. Professors actually respond and take the time to interact even if it's not within a certain window or office hour block. I have spent many hours in physical classrooms where one can simply sit and rot away without ever being noticed. Business is done largely via email, conference calling, and through virtual teams. Learning how to communicate and "gel" with your classmates in such an environment is very timely and applicable in today's marketplace. There has been nothing "isolated" with my MBA experience. Far from it! Lastly, once I graduate this year I will have the exact same degree and credentials as those from my ground campus. ...and back to the ranking thing...since apparently that's much of what is marketed...I will graduate from the WP Carey School of Business at Arizona State University. BTW...where is BYU ranked?
In your words the onr of primary reasons to go to B school is for networking and learning to solve real world problems. I would think that many if not the majority of those enrolled in on-line graduate programs have done so because they are already in the work force. Unless these individuals are working in a cave or, have their heads buried in the sand it is pretty likely that they are already solving real world problems. In addition, the people they are networking with are more apt to be able to further their career here and now rather than at some point in the unforseen future. It's great to take pride in your education and from whence it came but, isn't one of the purposes of B school to teach people how to come up with new and alternative solutions to the same old issues? Like maybe getting relevant hands on experience and getting an on-line degree at the same time?
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