In the previous article, we understood various Full Forms of MBA. In this article, I will explain What is MBA degree? What are the different types of MBA Programs? It is very important to know the types of MBA Programs because it will help you in deciding which MBA Program will be best suitable for achieving your career goal. I will also provide brief introduction to various MBA Programs available worldwide. Now, let me explain what is MBA degree? What are the different types of MBA Programs?
What is MBA degree?
The acronym MBA is used for “Master of Business Administration”, which is the most sought after degree for a successful career in the corporate world. Acquiring an MBA is the gateway to a global and dynamic business environment and be a competent professional. Universities around the world offer different types of MBA programs, allowing students to study according to their needs and priorities. There are various MBA programs available worldwide that allow students of different professional and social backgrounds to pursue the types of MBA programs that suit their requirements and goals.
This explains what is MBA degree? Now, let me explain what are the different types of MBA Programs?
What are the different types of MBA Programs?
You have thought a lot about your goals and have decided that an MBA is crucial to your career path. Now you need to find out what kind of program to enroll in. Should you take time out of the work for a year or two to attend school full time, or keep your job and attend a part time program? Are you more suitable for an Executive MBA? What about online MBA programs?, etc. Let’s understand different types of MBA Programs.
1. Full-time MBA Programs:
Full Time MBA Programs are traditionally one to two years of full-time graduate study. Participants attend weekday classes at a business school and will need to dedicate 12-24 months of their life while studying for the degree – there is very little, if any time, for additional work, travel or leisure activities. This is why it is so important to get family support when embarking on an MBA degree.
Two-year MBA Programs are common in North America. They allow participants to become immersed in their studies and often provide a period of time to embark on an internship. This type of Full-time MBA Programs are suitable for participants with 0-3 years of work experience.
One-year MBA Programs are the norm in Europe. These programs are incredibly intensive and time-consuming as everything is taught within 12 months. There is no opportunity for internships but it does mean participants are only out of the workforce for one year. This type of Full-time MBA Programs are suitable for participants with 4-10 years of work experience.
Accelerated MBA Program allows students to earn their degree in less time. It usually contains the same instruction as a traditional MBA program, but it comes in a shorter period of time. Students already working in the field of business, as well as those who took some business courses in the course of their bachelor’s degree program, may be eligible to enroll in an accelerated MBA program. Some factors to consider when choosing between an accelerated or traditional MBA program include shortened study time and structure.
2. Part-Time or Professional MBA Programs:
Part-time MBA Programs, also commonly known as professional MBA or PMBA, are more common options for those who are working full time and still want to attend school. These part time programs allow students the option to meet on weeknights or even weekends, so they can still attend the office in the day.
3. Executive MBA (EMBA) Programs:
Unlike the Part-Time MBA and Full-Time MBA, the Executive MBA is geared towards a specific type of professionals: those with a substantial leadership experience. Students in these programs usually have at least seven to ten years of work experience. This type of program is ideal for experienced professionals who will have a high level of responsibility at work but who want to establish contacts with other executives from other industries who can teach them new practices or new business approaches.
EMBAs are also part-time, with a variety of different programming options, allowing participants to study while they work. Some schools offer classes on weekends, others in the afternoons and others offer modular programming options, such as one week per month. These programs usually last between 16 and 22 months. Like many part-time MBAs, the EMBA often relies on the cluster or cohort system as well, creating the sense of community inherent in the full-time MBA.
4. Global / International MBA Programs:
The global / international MBA is not an official separate category, but it is an increasingly common designation for many MBA programs. These programs tend to attract more foreign students and faculties than do regular programs to make the classroom more diverse, and also don’t focus their discussions on single-country business practices. Many of these schools also offer students the opportunity to rotate between different business schools during their course of study; For example, a student may spend several months pursuing a consulting project in an emerging market, or spending a month in China, Japan or Korea. These programs are often geared toward students pursuing careers in international business. Since there is a demand for globally minded professionals, enrollment in global and international programs has skyrocketed.
5. Online MBA Programs, and Distance Learning MBA:
In Online MBA Programs, participants can get the degree from the comfort of their home and apply it immediately in their daily work. However, studying an online MBA requires high levels of self-discipline and time management.
The key difference between a distance learning MBA and an online MBA is that the former requires participants to attend the class at some point during their studies. For most of the time, participants studying a distance learning MBA will learn through interactive video, pre-recorded video, teleconferencing, and online or offline computer courses..
Initially, Online MBA and Distance Learning MBA Programs were not thought to be of the same caliber as those offered on campus – it was seen that participants were losing classroom discussion and interaction with their peers. However, many employers now have realized the commitment an online MBA requires of an individual, and today, an Online/ Distance Learning MBA is as valuable in the workforce as an MBA acquired in the classroom.
By this time, you must have understood what is MBA degree? What are the different types of MBA Programs?.
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