Global higher and business education analyst, QS Quacquarelli Symonds, has published its rankings of the world’s best online MBA programmes.
The global disruption caused by the Covid-19 pandemic has made online education more vital than ever before, and many of the top-ranked schools have seen increased interest in their online MBA programs.
IE Business School in Spain, claimed the top spot for the fourth year in a row, with the tuition for a global online MBA costing €51,200 ($61,600) – R880,000.
Interest in online MBAs continues to be strong, with many schools seeing increases in applications during the past year, QS noted.
Imperial College Business School is rated second, with fees amounting to £41,350 (R819,000), and Warwick Business School in the UK placed third – £34,150 (R677,00).
In the US Kelley School of Business is the first ranked online MBA course in the US. Tuition and fees are $1,380 per credit hour. Tuition and fees are subject to change every academic year.
The MBA program consists of 54 credit hours. The Master of Science degree programs consist of 30 credit hours. A dual degree consists of 66 credit hours.
“Online MBA programmes have taken on increased importance in the wake of the Covid-19 pandemic. To reflect this, the QS Online MBA Rankings 2021 is our largest ranking of online business school provision yet, including over 50 programs from around the world, QS said.
“While full-time MBA programme applications have been in decline in recent years, online MBA programme options have increased in availability and often offer a cheaper alternative to the full-time programme.”
Online MBA programmes have been ranked according to four metric groups, each designed to capture a key component of their mission: employability, diversity and access, the standard of the learning experience, and the quality of the class experience.
These four metric groups are:
- Faculty and teaching (35% of final score)
- Employability (30%)
- Class profile (30%)
- Class experience (5%)
Students must generally possess a minimum of three years of relevant professional experience to be considered for a top global online MBA. Students are also mostly required to write an exam or undergo an executive assessment (EA). This is usually followed by a personal interview (face-to-face or via Skype).