After closing down its full-time MBA program eight years ago, Virginia Tech’s Pamplin College of Business has become the latest business school to launch an Online MBA option. The new $58,000 program will enroll its first cohort in July and expects to attract an inaugural class of 20 to 40 students but hopes to eventually expand the offering to hundreds of students.
Pamplin is joining a highly competitive and cluttered marketplace with at least 350 other online MBAs offerings in the U.S. alone. In the recently published U.S. News ranking of Online MBA options, the magazine placed numerical ranks on 295 online MBA programs but lists 324 online MBA programs. There are already more than a dozen online MBAs at universities in Virginia, including the highly ranked long-distance option at the College of William & Mary’s Mason School of Business which ranked 19th best in the world by Poets&Quants.
At a cost of $58,000, moreover, the Pamplin program is coming to market at a price that is more than twice that of the two disruptive online MBA programs at the University of Illinois Gies College of Business and Boston University’s Questrom School of Business,