“Free MBA through Smartly Institute.” I was browsing Facebook when I saw the Smartly ad. It sounded too good to be true. The program was only open to elite candidates that had Masters degrees from other prestigious schools or had worked at noteworthy companies. I filled in the application form quickly and continued scrolling Facebook. A few weeks later I received a congratulatory email that I had been accepted to the free MBA program through Smartly.
Since then it has been about a year since I finished the program. I have been reflecting on my experience and am recording it here in hopes it helps others make a decision about whether to try it or not.
First, I was enrolled in the free MBA program (as opposed to the paid Executive MBA program) and was in the November 2017 cohort. I completed the program in September 2018.
Now, a lot of you are probably wondering how the program is free and how Smartly is able to make money. Smartly makes money in 2 ways: the paid executive MBA program and, more importantly, it is a platform that companies pay for to recruit candidates through Smartly Careers. I think it’s a good way to match students to jobs and it helps fund the free MBA.
Below is my take on the pros and cons of the free MBA program.
Pros:
-Coursework. Smartly says the program is roughly equivalent to the coursework of the first year of an MBA. I agree; you mostly learn the same basics and topics as other MBA programs (Finance, Accounting, Economics, Statistics, etc. ) but and the content is more shallow than an in-class course but slightly more in-depth than other MOOCS.
-Great, interactive content. Compared to other MOOCS like edx or coursera, I liked Smartly’s interactive app. I would do a lot of learning while waiting in lines, during lunch or anytime I had a few minutes of downtime. It was a fun way to learn and I liked that I could complete my “homework” throughout breaks during the day. I feel like it is a great free option for motivated self-learners who want to gain new knowledge. And after you complete the program, you still have access to the content which is updated regularly.
-Quick learning. Not only is learning the through app quick but the entire program itself is about 10 months long. Compared to a 2 year full-time MBA or a 3-year part-time MBA, the 10 months is a breeze. The course does manage to include a midterm, final and 2 group projects, but the learning is quick and it can be easy to fall behind if you don’t stay on top of it.
Cons:
-Not accredited. This is probably the biggest drawback of Smartly and they say they have been pursuing accreditation but it takes years. If Smartly Institute gains accreditation, the alumni and students are hoping it will be retroactively applied to our Smartly “degrees” as well. I’m not sure if that’s how accreditation works or if it’s even possible. See updated note at end.
-The name. When people ask where you got your MBA and reply “Smartly Institute,” “Quantic School of Business” (see updated note at end) it doesn’t quiet conjure up the prestige of Harvard Business school or any established business school. For being called Smartly, the company didn’t do a smart job of picking a name that sounds reputable. They seem to be trying to change this and sent out a survey to alumni recently asking our opinion on various new names.
-Networking. You get as much as you put in. It’s more difficult to network since everything is virtual, but Smartly has been hosting happy hours and networking meetups and workshops around the country to promote more networking between cohorts. I’ve attended a few meetups in LA and a workshop as well. The meetups were fun and it was nice to connect with folks in the Executive MBA as well.
Overall, I think the Smartly free MBA is a fun way to learn for motivated self-learners but if you’re looking to advance your career, you might find it lacking in an established reputation. I would see it as a free MOOC with great, interactive content and with potential for creating networking opportunities and connecting you to jobs. Worst case, you spend 10 months learning. If you’re not happy with the career advancement results, you can sign-up for an actual MBA and your first year should be a breeze since you’ve learned it all already.
Update: In 2020, Smartly announced it was changing its name to the Quantic School of Business and in February 2020, Quantic was granted accreditation by the Distance Education Accrediting Commission (DEAC), which is recognized by the Council for Higher Education Accreditation (CHEA)
Update: As of 2020, the MBA is no longer free and per the Quantic School of Business website, the MBA tuition is now $9600.