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Best Online MBA Colleges Under 1 Lakh: MBA on a Budget

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Kamaldeep

01 March, 2024

Best Online MBA Colleges Under 1 Lakh: MBA on a Budget

“All our dreams can come true, if we have the courage to pursue them.” – Walt Disney

In India, the trend for Online MBA is evergreen, but it comes with hefty price tags. It can feel scary sometimes. But imagine if you could get a top degree without spending too much money. Well, it is possible to have an online MBA degree from some of the best-reputed colleges. But before exploring the colleges, let’s run our eye over this article by Fortune Education, which states that an increasing number of people are choosing online business degrees due to their flexibility and affordability. Enrollment in online MBA programmes has surpassed full-time programmes, with nearly 3% more students signing up in the U.S. during the 2020-2021 academic year, as reported by the AACSB.

This trend shows the popularity and recognition of online education among students worldwide.

If you are worried about which university to choose, especially in terms of the budget under a lakh, look no further. This blog will throw some light on the top online MBA colleges in India that don’t burn a hole in your wallet.

What is an Online MBA & Its Benefits?

It is the same as a traditional Master of Business Administration (MBA) degree, but here, you have the privilege to ditch the physical campus and bring the lessons straight to your laptop. You will learn the same business specialisations like Finance, Marketing, and Leadership, but with a flexible schedule. You do not have to worry about packed schedules, leave the comfort of your home, juggle with your daily office or burn a hole in your pocket.

  • Flexibility Superstar:

    This is the big cheese for you as you can study at your own pace, whether you are an early bird or a night owl. You can easily fit lectures and assignments around work, family, or that epic adventure you have planned.

  • Save Some Pennies:

    Traditional MBAs are usually expensive. Online programmes have friendlier price tags due to lower operational costs, which means more money for your personal expenses, and you can treat yourself to a great weekend (you have earned it!).

  • Network like a Pro:

    Building online connections might not be your strength, but it has immense potential. You will be interacting with classmates from diverse backgrounds and locations where you can network across the globe. Hone your skills, and your next business partner might be just a video call away!

  • Globally Recognised:

    Pursuing an online MBA doesn’t mean compromising with the university’s recognition. Many reputable universities offer accredited Online MBAs. That implies you will receive recognised qualifications from employers worldwide.

So, say goodbye to geographical limitations and hello to exciting career prospects.

Top Colleges Offering Online MBA Under 1 Lakh

University/College Fee (INR)
IGNOU INR 62,000 (Full course)
Uttaranchal University INR 82,000 (Full course)
Jain University Online INR 75,000 – 1,30,000 (Per Year)
SYMBIOSIS Centre for Distance Learning INR 58,000 (Full Course)
Bharathidasan University INR 91,000  (Full course)

Let’s discuss these colleges in detail:

1. IGNOU

IGNOU, or Indira Gandhi National Open University stands out as excellent in distance education in India. It breaks the geographical barriers by providing affordable and flexible learning opportunities to millions. IGNOU’s Online MBA will help you pursue your academic goals without geographical or financial constraints.

So, if you are seeking a credible online MBA degree with a focus on accessibility, IGNOU is definitely worth exploring.

Attribute Details
Course Name Online MBA degree
College Type Government University
Duration 2 years
Mode of Learning Online
Exam Mode Online
Learning Resources Digital Resources, TV, Web-based Radio, Digital Library, etc
Course Fee INR 62,000 (Full course)
Entrance Exam
Admission Drive January and July
Exam Drive June and December
NIRF Ranking
NAAC Accreditation NAAC A++
Awards/ Recognitions UGC,  AICTE
Placement Assistance Campus Placement Cell

The University offers specialisations in Services Management, Marketing Management, Operations Management, HR Management, and Financial Management.

2. Uttaranchal University

Uttaranchal University is an excellent example of a top university that provides online MBA degrees. It has NAAC A+ grade and is accredited by top organisations. This university offers you flexibility with personalised mentorship and interactive learning. If you compare the fees, it is relatively lower than traditional MBAs. Hence, it stands as a cost-effective option to go for.

Attribute Details
Course Name Online MBA
College Type Private
Duration 2 Years
Mode of Learning Online
Exam Mode Online
Learning Resources There are many resources such as Live + Recorded Lectures, Discussion Forum.
Course Fee INR 82,000 (Full course)
Entrance Exam
Admission Drive
Exam Drive January and July
NIRF Ranking
NAAC Accreditation NAAC A+
Awards/ Recognitions UGC, AICTE, WES, AIU, IIC, MSME, UNAI, WURI, IIA, QCI, ISO, Edutech, The Week
Placement Assistance Career Assistance

The University provides specialisations in Marketing Management, Financial Management, Digital Marketing, International Business, Human Resources, Information Technology, and Business Analytics.

3. Jain University Online

If you are on a hunt for a globally recognised Online MBA, then Jain University is for you. The University is accredited by UGC and AICTE. They provide affordable and diverse specialisations like Finance, Marketing, and Project Management.

Jain University’s Online MBA could be a step to move forward in your career. You can consider this if flexibility and a respected degree are your priorities.

Attribute Details
Course Name Online MBA
College Type Private
Duration 2 years
Mode of Learning Online
Exam Mode Online
Learning Resources Live Lectures, Multimedia Content, Self-Study Activities, Discussion Forums, Access to LinkedIn Learning, Coursera, SWAYAM, Global Faculty etc.
Course Fee INR 75,000 – 1,30,000 (Per Year) (Depends on Specialisation)
Entrance Exam
Admission Drive January and July
Exam Drive January and July
NIRF Ranking 68 (University Category)
NAAC Accreditation NAAC A++
Awards/ Recognitions UGC, AICTE
Placement Assistance Mentoring Support, Career Support Services

At this University, you can choose a specialisation in areas such as Banking, Finance, IT Management, Business Intelligence, Marketing, Data Science, International Finance, Digital Finance, Logistics, Digital Marketing, Entrepreneurship, Strategic HR Management, and Operations Management.

4. Symbiosis Centre for Distance Learning

Symbiosis Centre for Distance Learning (SCDL) is a top contender. The university has a good reputation for high-quality and accredited online education. Their curriculum and strong industry connections will prepare you for success in today’s competitive business landscape.

With an online MBA from SCDL, you can gain valuable business knowledge and get growth in your career without disrupting your current lifestyle.

If you are looking for a respected and flexible online MBA option in India, look no further than SCDL.

Attribute Details
Course Name PGDBA
College Type Private
Duration 2 years
Mode of Learning Online
Exam Mode
Learning Resources Written Learning Material, Recorded Live Lectures
Course Fee INR ₹ 58,000/-
Entrance Exam
Admission Drive January and July
Exam Drive April and October
NIRF Ranking
NAAC Accreditation NAAC A++
Awards/ Recognitions UGC-DEB, AICTE
Placement Assistance

At this university, you can choose specialisations such as Agri Operations, HR Management, Business Analytics, International Business, Finance, Logistics, Healthcare Management, and Marketing.

5. Bharathidasan University

Bharathidasan University is one of the best Online and Distance education Universities to get an MBA degree. If you want an online MBA to balance affordability and flexibility,  look no further than Bharathidasan University. Their 2-year Online MBA programme will offer you essential business knowledge.

Attribute Details
Course Name 2 Year Online MBA
College Type State University
Duration 2 years
Mode of Learning Online
Exam Mode Online
Learning Resources LMS, Live Sessions, Discussion Forums
Course Fee INR 91,000
Entrance Exam
Admission Drive
Exam Drive Exams are conducted quarterly in February, May, August, and November.
NIRF Ranking 41
NAAC Accreditation A+
Awards/ Recognitions UGC, DEB, AICTE
Placement Assistance

Job Roles after Completing Online MBA

Career Options Salary Range (Annual)
Management Consultant INR 26.6 Lakhs
Financial Analyst INR 5.8 Lakhs
Marketing Manager INR 12.2 Lakhs
Data Analyst INR 6.4 Lakhs
Supply Chain Manager INR 14.2 Lakhs
Project Manager INR 17.2 Lakhs
Operations Manager INR 10.6 Lakhs
Human Resources Manager INR 10.7 Lakhs

Source- AmbitionBox

Conclusion

You can consider factors like specialisation options, accreditation, faculty expertise, and your learning style. With dedication and the right choice, an online MBA can be your springboard to career success. So, go forth, conquer the business world, and prove that big dreams don’t need big budgets!


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