Does it prepare the student for a job as well as a traditional one would?
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Depending on the program it may or may not prepare the student, but most employers will look at it negatively compared to a traditional college MBA. I have spoken to many recruiters and hiring managers and most of them have expressed that they feel better about students who have gone through the rigors of traditional college.
And the on-line classes are much more expensive. . . and I go to a private college!
No!
Absolutely not! Half of what you learn getting an MBA is learned from the other students. In terms of getting a new job, I am of the opinion that if you don’t get an MBA from a top school, it isn’t worth getting an MBA.
Go to the B-School sites at BusinessWeek or US News. Look at the starting salaries of graduates & compare them to the salaries before they get in. Notice how the difference drops off dramatically as the rankings get lower.
If you get an online MBA you will have an inferior degree and you will not be able to get a job that pays any more than what you are making now.
That being said — there are some degree programs — like Duke’s Global MBA — that combine in person classes with distance learning. These kinds of degrees are different from those advertised by University of Phoenix, etc. They also cost a lot more.