Different Types Of Mba Degrees – When researching MBA programs, are you overwhelmed by the different types of MBA programs you can choose from? Well, the options for you are many. This article is here to help you choose an MBA program that fits your schedule and career goals. Additionally, we will analyze each MBA program based on duration, mode of delivery, and concentrations. So, without further ado, let’s dive in to see what types of MBA programs are available.
Part-time MBA programs, as the name suggests, allow you to keep your job and complete your MBA course without leaving work. Here you can complete the course at your own pace. This program is ideal for someone who wants to grow in their organization and juggle the demands of their job and MBA courses. Typically, students who pursue a part-time MBA program take about three years to graduate and have the luxury of keeping their jobs. These programs are also a good option for those who don’t want to risk giving up a job they already have.
Different Types Of Mba Degrees
A full-time MBA program is an accelerated MBA program that can be completed between 12 and 16 months. Such MBA programs are designed to meet the needs of business professionals. If you are interested in such a program, you probably want to accelerate your career in your industry or job title by earning an MBA degree that has a hands-on approach. These programs focus only on core modules to give you the necessary skills and at the same time complete the program in a shorter time. However, you should be aware that such programs are quite immersive and intense. Be prepared to share your classroom with professionals who have significant experience, which also provides a great opportunity to grow your network.
Episode 214: A Crash Course In Mba Program Types–which Format Is Right For You?
This is a typical MBA program that requires you to attend a business school/university for a period of 24 months. This MBA program can be general or focused on a specific business function (discussed later in the article). You are required to be 100% committed to this intensive program, which will require you to quit your current job. Ideally, this program meets the needs of first-time professionals who would like to improve their business skills and take on bigger and better work roles in their careers. This type of MBA program is also suitable for someone seeking a managerial or corporate management career. Moreover, these MBA programs are also more expensive due to the two-year duration. Hence, you need to plan your school fees financing in advance.
Although these courses are also of one year duration, executive MBA programs cater to a different class of business professionals. These MBA programs are more module-based, meaning they cover core modules that are required to hone certain skills. As it caters for professionals already in a senior position, it includes modules on leadership and ethics. This type of MBA program is ideal for a business professional with more than 10 years of experience who wants to take up executive directorship positions in their organizations.
A Global MBA program, as the name suggests, is a program that allows you to complete the course by studying at different campuses that the business school may have. By studying in different locations, students get the opportunity to learn business practices in the context of each location and its business environment. Students also get the opportunity to interact with a very diverse set of classmates.
A campus-based MBA program is a traditional MBA program that can be full-time or part-time and is delivered at one or more business school campuses. Classes can be held during the day or even in the evening to support working professionals, depending on the MBA program developed by the business school.
What Is An Mba Degree?
A program whose curriculum is taught entirely over the Internet would be classified as an online MBA program. Students are required to complete all full-time MBA degree requirements by attending classes and completing the program without traveling to campus. This program is ideal if you don’t want to move abroad and want to earn an MBA degree from a specific university or business school without the expense of moving to the country or city where the institution is located. This MBA category has gained particular popularity due to the pandemic. With travel restrictions in place and most institutions physically closed, business school students continue to seek and deliver education through the online model.
This type of MBA degree includes both online and campus-based aspects. The university can offer both online and on-campus courses for students to choose from and they can do so based on their preferred approach.
These MBA programs are generally focused on a specific business function. They may have general courses in the first year of the business program and the second year of the course is dedicated to the concentration you have chosen. MBA programs that focus on a specific concentration are ideal for someone who wants to build a strong expertise in a particular field.
If you are interested in this type of MBA degree, it is mostly because you want to further build skills and experience in a specific business function. So, if you have significant experience in a field like finance or marketing and want to further enhance your knowledge in one of these business functions, then an MBA program with a specific concentration is perfect for you.
Average Gre Scores For Mba Programs
Now that we’ve informed you about the different types of MBA degrees, you’re in a better position to decide which MBA program best suits your needs. Don’t worry, we are here to help you choose the best program for your career growth. But wait, before diving straight into the details of MBA programs, have you checked out what an MBA is and why you should do it?.
The kind of job opportunities offered by an MBA has escalated its demand in the country. With the growing demand, the demand for specializations has also increased with time.
This has resulted in more than 4,000 MBA colleges offering more than 8,000 different specialized MBA courses across the country. You need not worry about the admission process as the process is quite similar for different MBA specializations.
If you are curious to know about the most popular MBA specializations among students, here is a list of MBA specializations offered by various MBA colleges.
Methodology For Fortune’s 2022–2023 Executive Mba Ranking
The most popular MBA program is a two-year program where top-tier MBA colleges teach you essential business skills such as communication, finance, marketing and sales. You also get the opportunity to specialize in a selective area during the elective modules.
Don’t get carried away by looking at the duration of the MBA program. A one-year MBA program covers relatively similar business fundamentals and allows you to specialize in a selective program.
However, you need to spend more time and concentration on the electives because you have less time, but eventually you do.
The course and materials will be similar to a two-year MBA program. It is specifically designed for candidates who do not wish to make significant or major career changes.
How To Choose Your Mba Program
It is a 12-15 month course and to compensate for the extensive course you may need to attend college at weekends and exams are held at the end of each term.
Also, it is best to have a work experience of one year as this will help you tremendously in building traction and adapting quickly to the entire course.
Top IIMs and B schools like IIM Ahmedabad, IIM Bangalore, ISB Hyderabad and IIM Calcutta offer the full one-year MBA course instead of a diploma, and in IIMs it is often called Executive MBA.
If you are someone who likes to do work or doesn’t want to leave work, while showing great interest in pursuing an MBA, you don’t have to compromise on how with a part-time MBA you can study MBA and do work. The best part is that you can manage both efficiently without any issues.
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You must attend the classes, but the timing is relatively flexible. You can accordingly choose the slot where you can join either after work or evenings and weekends.
The duration of a part-time MBA is usually three years and can be extended to five years, but you will learn the most in this program as the syllabus tends to cover everything from scratch so that you get enough insight into the course . The curriculum is similar to that of a full-time MBA.
The downside of this course is that most universities don’t offer it, but there are some universities that believe in this course and offer it.
The bright side of this course is that it helps tremendously in networking and it goes a long way