COVID-19 has disrupted the education system globally, leading education institutions to migrate into remote learning. This study on online learning readiness and competence was conducted among management students on their perceptions on the importance of, and the confidence level of their online learning competence factors. Using the Student Readiness for Online Learning (SROL) instrument, the results show that the students consider Technical Competence as very important and that they are somewhat confident with their online learning competence. Both perceptions of the importance of the online competence factors and competency levels significantly correlate with the students’ self-report of whether or not they have learned in the course. Among the eight online learning challenges, the students find the “lack of technical skills in using online learning” as the least challenging. This study concludes with the recommendations that pedagogical and technological interventions be pursued to address the inadequacies in the online teaching-learning process.