Selecting between an Online MBA in HR and a Regular MBA involves considering several factors, one of which is the expense. Both courses have excellent career prospects, but they are associated with different expenses. From fees to unseen expenses, knowing the expenses can allow you to make the correct decision.
This article compares the affordability of an Online MBA in HR to a Regular MBA, with a focus on tuition, additional costs, and overall value.
Cost Analysis: Online MBA in HR
An Online MBA is often considered more budget-friendly than a traditional MBA due to several reasons, including lower tuition fees, absence of relocation costs, and the flexibility to work while studying.
Lower Tuition Fees
One of the primary benefits of an Online MBA in HR is the lower tuition fee. Most universities charge lower fees for online programs because they incur less on infrastructure and operational costs.
For instance, at DPU-COL, the complete cost of an Online MBA in HR is ₹1,89,400. The other advantage is that there is a discount for defence personnel and specially-abled students, which lowers the cost to ₹1,81,140. In addition, a ₹10,000 scholarship is also provided to those students who pay in one or two installments within 15 days.
No Relocation Expenses
With an online program, students are not required to relocate to another city, saving them money on rent, daily transportation, and food. For working individuals, this saves them the cost of relocation while keeping their current job and pay.
Flexibility to Work While Studying
A primary financial benefit of an Online MBA is the capability to work and study simultaneously. This implies students do not experience the opportunity cost of quitting employment for full-time study, unlike a traditional MBA where students could be required to take a break from their careers.
Technology-Related Expenses
While an online MBA does call for a stable internet connection, a sound computer, and some software subscription fees, the expense is generally modest with relocation, living on campus, and everyday commuting costs. Some institutions also offer digital materials, which lowers the necessity to purchase physical books or other study materials.
Why a Regular MBA is More Expensive
A conventional MBA program provides a campus-based learning experience but at a higher price considering elements like tuition fees, living expenses, and extra charges for campus facilities.
Higher Living Expenses
Students pursuing a conventional MBA have to factor in the expense of accommodation, utility bills, and meals. Based on the university and location, these charges can add substantially to the overall education cost.
Travel Costs and Face-to-Face Networking
A traditional MBA allows for extensive in-person networking with professors, industry professionals, and classmates. That said, it usually comes with costs like participation fees for events, industry visits travel, and conference or networking event costs.
Students might have to commute daily or travel to internships as well, adding to transportation expenditure. In some instances, exchange programs abroad are promoted, thus adding to the overall cost.
Campus Facilities and Branding
Conventional MBA programs have a higher tuition fee because of campus infrastructure-related costs such as libraries, research centres, classrooms, hostels, and recreational facilities. Moreover, institutions with well-established brands and international recognition also tend to command a premium price for their programs.
Opportunity Cost of a Career Break
Most traditional MBA programs ask students to leave work for a while, resulting in lost income and work experience. For working professionals who want to advance their careers without leaving their jobs, this is a huge drawback.
Comparing the Learning Experience
While affordability is a crucial factor, the learning experience also plays a major role in choosing between an Online MBA in HR and a Regular MBA.
Online MBA in HR: A Flexible and Digital Learning Experience
An Online MBA in HR provides a very flexible and contemporary method of studying, allowing students to learn at their own convenience while juggling work and family responsibilities.
Virtual networking events enable students to interact with their peers and industry professionals across the globe through live video meetings, online forums, and virtual events. Some of these programs include optional meetups in person for increased interaction.
The course focuses on digital collaboration tools, time management, and remote work skills, all of which are highly critical in current HR and business landscapes.
Check out the Online MBA Human Resource (HR) Degree: Course, Syllabus, Career, Scope, Fees & More
Regular MBA: A Structured and Traditional Learning Approach
A conventional MBA program offers a rich on-campus experience with formal schedules, in-person networking, and personal interactions with faculty and peers.
Students learn leadership and collaboration skills by working on face-to-face group projects, class discussions, and case studies. But less attention is given to digital tools and remote work methods, which are increasingly becoming indispensable in today's workplace.
While both programs offer valuable learning experiences, an Online MBA in HR is better suited for professionals who require flexibility and wish to continue working while studying.
The Value of an Online MBA in HR
Selecting an Online MBA in HR over an on-campus MBA is not only a matter of cost. Its value in international exposure, accreditation, and professional flexibility makes it a popular choice among students.
Global Reach
Online courses converge students from all over the world, creating a multicultural learning atmosphere. This exposure to the rest of the world gives students insights into global HR practices and cultures of the workplace.
Accreditation and Recognition
Most online MBA degrees are accredited by the same institutions as conventional MBAs, which means that students will be receiving a high-quality education. More and more employers are acknowledging the legitimacy of online degrees, particularly if earned from a credible institution.
Customizable Learning Experience
Online MBAs tend to permit students to select specializations and electives based on their professional objectives, creating a customized learning experience. The capacity to customize coursework makes an online MBA more applicable for working professionals seeking to acquire certain HR skills.
Employer Acceptance
With online education gaining popularity, employers today know that online MBA graduates are on par with students who finish conventional programs. An online MBA from a respected university is just as valuable as its on-campus equivalent.
Affordable Online MBA in HR at DPU-COL
DPU-COL offers an affordable and flexible Online MBA in HR designed for working professionals and aspiring HR leaders.
The total fee is ₹1,89,400, with discounts and scholarships available for eligible students.
The program includes:
- Live and interactive e-learning sessions with faculty and industry experts
- Webinars and discussions with professionals from various industries
- Mentor-mentee associations for academic and career guidance
- An easy-to-use digital learning platform accessible via the Swayam app
Admission Process
- Register online by providing basic details.
- Complete the admission form on the DPU-COL official website.
- Make the online payment to confirm enrollment.
With cost-effective tuition, high-quality education, and flexible study options, DPU-COL’s Online MBA in HR is an excellent choice for students looking to advance their careers without financial strain.
Final Verdict: Which One Is More Affordable?
An Online MBA in HR is significantly more affordable than a traditional MBA. The lower tuition fees, elimination of relocation expenses, and the ability to work while studying make it a cost-effective and practical option for professionals and students alike.
For those seeking a flexible, globally recognized, and budget-friendly MBA, the Online MBA in HR at DPU-COL stands out as the ideal choice.
FAQs
Is an Online MBA in HR more affordable than a regular MBA?
Yes, an Online MBA in HR is more affordable due to lower tuition fees, no relocation costs, and the ability to work while studying.
Does an Online MBA in HR have the same value as a regular MBA?
Yes, accredited online MBA programs offer the same curriculum and industry recognition as traditional MBAs.
Are scholarships available for DPU-COL’s Online MBA in HR?
Yes, students can avail of a ₹10,000 scholarship if they pay the full fee in one or two transactions within 15 days.
Can I work while pursuing an Online MBA in HR?
Absolutely! The flexible study schedule allows students to balance work and education without taking a career break.
Are there any hidden costs in an Online MBA in HR?
The only additional costs may include a good internet connection, a laptop, and specific software, but these are minimal compared to campus expenses.
How do employers view an Online MBA in HR?
Employers now recognize online MBA degrees from reputable institutions, valuing the skills and expertise gained.
Is networking possible in an Online MBA in HR?
Yes, DPU-COL offers live sessions, virtual events, and alumni networking opportunities to help students build professional connections.
What is the admission process for DPU-COL’s Online MBA in HR?
Students need to register online, submit the application form, and make the course fee payment to secure admission.
Does an Online MBA in HR offer placement support?
Yes, DPU-COL provides career guidance, industry mentorship, and placement assistance to help students secure jobs.
How long does it take to complete an Online MBA in HR at DPU-COL?
The program is designed to be completed in two years, divided into four semesters.