The Dispatch
Online MBAs: Where Are They Now?
Examining the realities of virtual business degrees.
By Chloë Lane
A huge number of students say they want more in-person events and career opportunities, so we offer them – but then they don't show up, reveals Scott Dawson, Dean of CU Denver Business School at the University of Colorado, Denver (CU Denver).
Five years on from the height of the COVID-19 lockdowns, online programmes have evolved drastically – and the competition for them even more so. Where they were once (in many cases) simply in-person programmes taught over Zoom, 2025’s online degrees have been carefully curated, and are now viewed as a more affordable and accessible alternative to traditional business degrees.
“Pre-COVID, we were probably 45 percent online at the graduate level. Now we're 70 percent online, and we push people in that direction,” says Dawson, who was speaking at AACSB’s ICAM conference in Vienna in April.
However, online learning doesn’t come without its challenges. While students enjoy the flexibility online programmes offer, they are calling out for networking opportunities and careers events.
CU Denver responded to these requests with a variety of online webinars, careers opportunities and international tours. And yet the majority of online students aren’t interested in attending. “It’s one of the biggest struggles we have,” Dawson reveals.
"The business school has transitioned to new platforms that significantly enhance interactivity and incorporate AI-supported learning tools, including adaptive assessments and personalised feedback."
Understanding What Students Want
At the same time, some business schools say students are seeking the same core qualities they’ve always looked for in online programmes: quality, flexibility, relevance, and connection. “I don’t believe core priorities have shifted dramatically in recent years, but expectations have certainly sharpened,” states Eimear Nolan, Director of the Flexible Executive MBA (FEMBA) and Associate Professor in International Business at Trinity Business School.
What has changed, she explains, is that students now expect a seamless, intuitive digital experience. They want flexible learning that doesn't sacrifice interaction or community. The demand for future-focused content is growing, particularly in leadership and sustainability. “But ultimately, I think students choose programmes like the FEMBA because they trust it will challenge them, develop them, and fit around the complexity of their lives,” she says.
Trinity Business School’s FEMBA was launched in 2020, not as a reaction to COVID, but as happenstance after two years of detailed planning and development. When designing the course, particular attention was paid to integrating user-friendly, accessible technology that would support mobile learning and enhance the overall student experience.
Today, it continues to build on that vision. A core module explores the strategic and ethical applications of AI in leadership, while two structured immersion weeks ensure the programme is not fully online.
The first, during year one, includes on campus activities like speed networking and sessions with a theatrical company to build relationships, establish trust and form the foundation for effective group collaboration.
The second-year immersion has a different tone – it’s about reconnecting and shifting focus toward applied, real-world learning. Students engage with company-based projects, preparing to tackle real business challenges through teamwork and strategic thinking.
“While 100 percent online programmes certainly have a place, especially for those seeking a more independent path, our focus is on fostering community. For us, those personal connections are not optional but essential,” remarks Nolan.
This balance of flexibility and connection is also central to Porto Business School’s Global Online MBA (GOMBA) in Portugal. As Rosário Moreira, the programme’s Academic Director, notes, online learning is no longer a necessity, it’s a conscious and strategic choice.
“Today's students are seeking more than convenience; they want transformational experiences that blend academic excellence, leadership development, personal enhancement, global networking, and real-world impact,” she explains.
Since its launch in 2020, GOMBA has continuously evolved to anticipate market and technology trends. It has deeply integrated AI into the curriculum and even offers a mandatory AI pre-course to ensure all students are prepared for the programme.
“Our success, reflected in the programme’s strong global rankings and student testimonials, proves that an online MBA, when innovatively designed, can be life-changing,” says Moreira.
Riding The Momentum
Imperial Business School launched its online MBA five years before the pandemic, but COVID drastically accelerated the momentum across digital education. “We have fully embraced this momentum,” remarks Gavin Symonds, Senior Programme Manager for the Executive and Global Online MBA at Imperial Business School.
In the five years since, the business school has transitioned to new platforms that significantly enhance interactivity and incorporate AI-supported learning tools, including adaptive assessments and personalised feedback.
One particularly exciting development has been the integration of AI-driven faculty avatars within certain modules, allowing students to engage with dynamic, responsive versions of professors. This, Symonds notes, makes the learning experience more personalised and immersive.
Still, Symonds believes the future of online learning lies in flexibility and choice. “While 100 percent online learning remains vital for many students, particularly those with global careers or significant travel commitments, it is likely no single-sided approach is 'enough', whether that’s face-to-face or online.”
That’s why Imperial Business School has introduced some hybrid and blended learning opportunities within the Global Online MBA, including real-world business projects and ‘glocal’ electives taught in cities worldwide. Students also participate in residential experiences, such as a London-based induction week, offering in-person networking and immersive learning.
Durham University Business School has taken a similar path. Its online MBA, launched in 2015, saw a surge in demand during the pandemic, as professionals sought flexible, future-proof qualifications. “The pandemic prompted a surge in applications and accelerated wider market acceptance of online MBAs as credible, rigorous alternatives to face-to-face programmes,” says Mike Anthonisz, Associate Dean of MBA Programmes.
But as restrictions lifted and individuals became fatigued by prolonged virtual interaction, interest began to shift toward in-person and hybrid options.
“While not all [online MBA] developments stemmed directly from the pandemic, the crisis certainly accelerated their adoption. We have re-evaluated and enhanced every aspect of the learning experience – from content delivery and technological tools to assessment methods and social engagement,” says Anthonisz.
Changing Expectations
Students' expectations have changed too. Asynchronous content, once seen as convenient, is now often met with impatience, as learners increasingly value immediacy and real-time interaction, Anthonisz tells QS Insights Magazine.
For Durham University Business School, the most notable shift has been the normalisation of virtual interaction. Durham has adapted its curriculum by making platforms like Zoom, Teams and Adobe Connect central to its pedagogy, integrating group work, peer feedback and 360-degree assessments to boost students’ engagement and reflection.
Yet, like many schools, Durham has faced the challenge of replicating the benefits of in-person interaction in a virtual environment. This is one of the reasons why the programme now offers students the option of a fully online or blended experience. It has also invested in technologies and learning design strategies that promote meaningful engagement amongst students, regardless of location.
“While 100 percent online learning offers unparalleled flexibility and global access, there’s no denying the value of human interaction and physical presence. However, we view this not as a limitation but as an opportunity to evolve,” Anthonisz says.
Online Or Offline?
On the other side, some business schools had to quickly pivot during the pandemic. Rotterdam School of Management Erasmus University (RSM) had long been in-person focused and rapidly experimented with online components in its MBA and Executive Education offerings during the height of the pandemic. Since then, however, the school in Netherlands has largely returned to in-person formats.
Moving to 2025, though, RSM is reintroducing online elements across all programmes as part of a broader strategic initiative aimed at increasing flexibility and making in-class time more impactful.
The school has introduced several initiatives that reflect this. One such example is the launch of the Online Master’s in Sustainability Management – a programme that was directly shaped by the digital innovations and insights gained during the pandemic.
Rethinking What A Campus Is
Other schools have gone further still. In 2020, NEOMA Business School launched a completely online campus as a direct response to the pandemic. Its aim was to create a middle ground between traditional video conferencing and the then impossible face-to-face classes.
“In 2025, it has become a core part of NEOMA’s identity,” says Alain Goudey, Associate Dean for Digital at NEOMA Business School. “It’s not just a digital platform, it’s a space where we teach, collaborate, innovate and connect, just like we do on our physical campuses. It now plays a strategic role in how we deliver hybrid education, and in how we think about internationalisation and inclusion.”
One of the campus’ greatest strengths is how relatable it is to the real world. There’s room for social rituals, informal chats – even fun, explains Goudey. The use of avatars, real-time interaction and shared spaces creates emotional engagement, so students feel like they really belong to NEOMA’s community.
“The goal isn’t to replace campuses, but to rethink what a campus is,” says Goudey. “In five years, we’ve learned that education doesn’t need to be either physical or digital, the best approach is both.”
What’s irreplaceable, though, is the multisensory experience of being together — the smells, the sounds, the physical energy, Goudey tells me. But NEOMA aims to replicate some of this connection and spontaneity, organising social events, integration weeks, informal coffee moments, all in the virtual campus.
“The idea is not to simulate reality, but to offer new rituals that feel real and meaningful for the students,” he says. “And it gives us the ability to support students more continuously and more personally as if we were on campus, for real.”
The Next Five Years
Five years on, online and hybrid programmes have matured, and the best ones no longer feel like digital replicas of classroom teaching.
The next five years will likely bring even more innovation – think AI-driven personalisation, global virtual cohorts and immersive technology.
Whether its online, hybrid, or in person, the future of business education lies in its ability to adapt. COVID may have accelerated the changes, but online programmes must continue evolving to survive.