The star program of business schools adapts to the virtual environment with more affordable prices
It is the star program of business schools. The MBA, or master’s degree in business administration, is the natural step in the career of professionals who aspire to management positions. But it is also a movement that implies a great investment on three fronts: time, money and effort. The online methodology has broken into the field of MBAs with the double promise of reconciling schedules, to make it possible to combine work with studies, and making prices more flexible, to lower this classic elite training from the heights. For 1,000 or even 600 euros, it is already possible to study an MBA.
Compared to traditional one- or two-year programs that are taken in person at universities and business schools, the possibility of studying online has multiplied the options. How to choose among so much variety? Weighty rankings , such as that of the Financial Times or QS, measure the quality of face-to-face MBAs and only recently have they timidly begun to include distance programs. For this reason, the consulting firm Hamilton decided to launch the ranking in 2022 , which specifically evaluates online MBAs taught in Spanish .
The list classifies the 25 best online programs with prices ranging from 13,900 euros from OBS, the most expensive. “Before you almost had to mortgage yourself to study an MBA. But now there are different prices, types and ranges”, explains Joan Ramón Castelló, director of marketing for the Emagister (spanish platform) , who joined the project last year. Next, we have prepared a selection of the seven cheapest programs taught in Spain, within the highest quality MBAs in the FSO ranking :
The cheapest MBAs in the FSO ranking
The MBA in entrepreneurship and innovation at the Open University of Catalonia (UOC), at a cost of 8,735 euros, ranks first in the most recent edition, which evaluates some 130 institutions in Spain and Latin America.
If you are thinking of studying an online MBA , these are the three basic questions to decide:
What is learned in an MBA
The MBA offers a global and panoramic view of the key areas of any company: finance, marketing , human resources… This technical knowledge serves as the basis for training that usually also includes a significant workload in the field of personal skills. , the famous soft skills , which have more and more weight in the world of work.
“In our case, all the modules have a part of skills in three areas: creativity, which is key in the field of entrepreneurship and innovation; emotional intelligence, essential for managing teams; and change management”
details Enric Serradell, director of the UOC program, which lasts two years and also offers a specialized version in international business and another in digital business.
Who is an MBA designed for?
«These types of programs are aimed at those who are thinking of having some decision-making capacity in a company,» sums up Carlos Martínez, president of the IMF business school. Its online MBA has multiplied the number of students: in face-to-face groups they have 50, while in online there are already 140 enrolled.
The ideal, according to experts, is to be at least 35 years old and have been working for several years. Within this profile, José Manuel Guaita, director of the MBA at the International University of Valencia (VIU) , distinguishes between two types of students: “They are professionals who are either working and want to promote their company, or are thinking of starting another draft». In his case, as it is an official master’s degree (and not a separate degree) , the program also opens the door to developing in the field of research.
What can I expect from an ‘online’ MBA
Case discussion is the backbone of any MBA program. This shared reflection aloud on examples of business success (and failure) that takes place in the face-to-face classroom is transformed into the online environment with multiple tools: discussion forums in which comments are exchanged fluently, teleclasses in which you can attend in real time but they are also recorded so that the student can access them at any time and even simulators in which students are organized into groups as if they were real companies and compete with each other.
The biggest problem students face, however, is planning. Without a rigid schedule and without face-to-face classes to attend, the management of study time falls entirely on each student . “Students have to plan the entire year beforehand, both professionally and academically, to deal with unforeseen events that arise,” explains José Manuel Guaita, from VIU. «Because an online MBA requires daily dedication, it is a plus of effort and a high degree of demand in your day to day.»