IE Business School in Spain maintains its title as the best online MBA program provider

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Business education has undergone a major transformation in recent years, and this is no different for an MBA degree offered online. The application of advanced technology and a more personalized learning experience are reshaping the sector, but it is the advantages such as flexibility, lower cost and better work-life balance compared to a traditional MBA that attract students.

For the second year in a row, IE Business School in Spain has ranked first in the Financial Times' rankings for online MBAs. Factors that helped it maintain first place include the high proportion of international students, the diversity of sectors in which students worked when accepted, and the international mobility of graduates.

Alumni praised the diversity of IE students, which contributed to their practical business skills, personal growth and management abilities. The Madrid school also ranked second in program delivery, online engagement, ESG teaching, and school carbon footprint ranking.

The UK's Imperial College Business School rose one place to second place, with its graduates earning the highest average salary of $218,315. The London school was also ranked first for career progression based on the seniority of its graduates and the size of the organization they work for now, compared to three years ago.

University of Southern California: The fourth-ranked Marshall school has the second-highest average graduate salary at $209,900. The American School ranked first for research, based on the number of articles published by the school's current full-time faculty members in 50 FT journals.

Birmingham Business School was a new entrant in the rankings, coming in ninth place. The British School was in the top five for value for money, international mobility and career services – the latter assessing the effectiveness of career advice, personal development, networking events and graduate employability.

Participation in the FT Ranking is voluntary and requires data to be provided by business schools and their graduates who completed their programs in 2020. In this year's ranking, 25 schools participated. However, some were not eligible for the final ranking, because the number of graduate responses was insufficient.

More than half of the 683 graduates surveyed completed their degree within two years, the same amount of time it takes some full-time MBAs.

Students who completed their program within two years had a better overall experience. On the other hand, those who took more than two years to complete the course rated the program lower in important areas, with their alumni network receiving the lowest rating.

In addition to lower levels of satisfaction with their programmes, graduates who take more than two years to complete a course earn less than their peers. However, graduates in the United States and Canada who take longer to complete their degrees tend to benefit financially.

Online MBA graduates who studied at schools in North America pay the highest course costs but are rewarded with the highest salaries three years after completion. Schools in the UK have the lowest tuition fees, however, the pay of their graduates three years after completion is, on average, only $1,000 less than US and Canadian graduates.

Nearly 80 percent of former students reported that their schools performed well in teaching public administration. The company's strategy and organizational behavior were also highly rated by graduates. However, the survey revealed that students believe the teaching of fintech, IT and law could be improved.

As in the previous three rankings, personal development was the greatest motivation for studying an online MBA, closely followed by improved career opportunities. Starting a business and working abroad was rated as less important by graduates.