Primarily what I see on WSO is M7 or gtfo.
Does anyone have any thoughts or insight into Illinois' iMBA program? Here's a Poets & Quants article for some background.
My impression is that once you get out of the M7 range, ranking doesn't matter so much. This is to say that #37 isn't all that different from #53.
Why I'm thinking about it:
- I don't have the means (read: funds) to attend a full time program. With this program, I can continue to work full time while earning an MBA and have my bank pay for part of it. The tuition package my bank offers requires a prorated payback if you leave the bank within 1 year of the tuition payment. I don't plan to leave but prorated payback isn't that big of a penalty regardless.
- I don't want to change industries. I'm happy with my current role/path in banking but an MBA will not only cause a pay bump, but act as a differentiator down the line when competing for management positions.
I would caveat that you ensure you are comfortable with online learning. If you have the opportunity, register for a formal online class or extension class taught by some university or MOOC, and make sure you like the format and style. Some people really take to it and love the flexibility - being able to watch lectures when convenient, posting on message boards to discuss things with classmates, etc. - and some students become very unmotivated by the relative lack of face-to-face interaction. Both can be useful, but as the brofessor might say, Know Thyself.
There is also the option of part-time MBA programs, though those can be more costly, they provide a mix of online/offline components and often your classmates are all currently working. If I were in your shoes, I would apply to several different programs and carefully consider the difference among them. Try some reach schools and some safety schools.
Finally, although it is not required by the iMBA program you are looking at, I would recommend taking the GMAT and seeing where you shake out. The GMAT acts as an effective (but not perfect) filter for students that may not take their MBA program seriously. If you are able to get into a more rigorous program that requires the GMAT, you may find the incremental cost worth it. It also might earn you a scholarship at some schools which helps the ROI.
Hope that helps. I did a Full Time MBA at a top 15 program for reference.