There was an interesting article in the WSJ today on UNC's venture into the online MBA:
WSJ: UNC Makes Risky Online Bet
The program recently launched the program with 19 students. UNC says its admissions standards are just as high as for on-campus, with a median GMAT of 700 and GPA of 3.3. The cost of the program: $89,000 for 2 years.
"Jeff Tucker, a managing director with private equity firm Century Bridge Capital and member of UNC's alumni council, said 'There were vigorous discusions' about the online program. Mr. Tucker added he would have no problem hiring an MBA@UNC grad."
Any thoughts? Do you think this is the start of a new trend or destined for failure? Think employers will feel the same about the grads?
Eh this is just for people who need an MBA for career advancement. $89,000 for an all online degree is a fucking joke, you could learn more for free at the library or on Youtube.
Higher education is turning into a better scam than high finance.
No chance I would pay $89,000 for an online MBA. Tucker's comment is smart marketing on UNCs part IMO
UNC says the online MBA is high selective but for a price tag of 89K, you might as well apply to their FT MBA Program for half the price (out of state residents).
The $52,000 is for in-state residents. The FT MBA for non-residents is $98,000.
This isnt risky at all for them, they get people to sign up and videotape fulltime MBA classes and print 100k for each sucker who clicks buy!
I am curious, would your resume/transcript/diploma say "online" MBA?
Nope. There should be no mention of it.
From the article: "On paper, the online M.B.A. will be indistinct from the brick-and-mortar degree earned by students."
Who were the 19 morons suckered into this "MBA degree"?
a couple of schools are trying this, Hofstra is launching their online MBA this fall (which would be...one of the most useless things you could do). Not sure how much they are charging but I can imagine comparable to UNC, considering undergrad costs there
I actually think this is the beginning of a trend. I think a lot more schools are going to be implementing similar programs in the near future. It's got huge profit margins as they do not really have a lot of additional costs and can charge a large premium.
Carnegie Mellon's Tepper's been doing an online MBA for a while already and they charge 45K more than UNC is asking for. Business school is about group work though, no?
If i'm paying 60k I would want to be there in person....
i heard the university of phoenix is a pioneer in thisfield. FIRST MOVER ADVANTAGE?!
A traditional MBA is geared towards 22-30 year old, looking to go into BB and MBB or middle management. These online MBA allows a school to broaden their clientele, expand their network. There are highly successful people, rising stars who may not have done well at academics, but killing it at business. As long as a school is able to attract a decent caliber of students, the writing is on the wall.
i understand, myself included, as prestige whores we are mortified at this trend. But it's going to be happening more and more. Duke already has their version with the Cross Continent program. It's an interesting differentiator for them duke against "stronger", richer, and more established competitors. I find the trend fascinating in how it is uprooting traditional higher education's stuffy ways. They are business schools, they should try and practice some of what they teach.
I am pretty sure shorttheworld's comment was sarcastic :)
Also, about 40% of Fuqua's CC program is face to face and they take classes all over the world. Very different from an online MBA program.
Duke>UNC
A large part - for many - of going to a FT MBA program is to network, create lasting friendships and relationships. Being there in person, interacting with your cluster/cohort everyday, this is something that a FT MBA gives you over PT or online.
IMO UNC's move may dilute the value of the FT program. But that's just speculation. By the end of the day it's a money making maneuver, much like PT MBAs.
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