What Are the Different Types of MBA Programs?
With technology and education having advanced in recent years, an increased number of different MBA programs have been created as a result. Beyond the multiple programs that allow you to specialize in whatever you wish to study, the options every student has in terms of how long it takes them to earn their degree has expanded. Now students are able to easily fit their studies into their lives by choosing from the different types of MBA programs/degrees. The options start with the traditional two-year full time MBA program. This program requires a complete commitment from students that is to continue over four semesters ñ with the chance of a mandatory business internship. In some situations, students may have to relocate in order to attend the business school they have chosen. This option is generally the most expensive and time-consuming, but the benefits every graduate receives are extremely valuable.
For those who have the desire and scheduling flexibility, an accelerated MBA program can be a great alternative. With a higher course load and more frequent examinations, this program offers students minimal personal time in between semesters. When you choose an accelerated MBA program, you remove any possibility of a three month summer vacation. However, the typical requirement of participating in an internship is also removed. It is important to comprehend the amount of time an accelerated MBA program will consume from your schedule, eliminating the possibility for you to earn much of an income over the course of the year. While this particular option can restrict you in the short-term, the earning of your degree at such a rapid pace also has its rewards. By taking on less coursework and avoiding an internship you will be able to quickly implement all of the new skills you have acquired, building up a strong network.
If this financial strain is not an option for your lifestyle, then you may enjoy the benefits of a part-time MBA program, where classes are generally held on evenings during the week as well as on weekends. With this type of schedule, the time it will take for you to earn your degree will be longer than the traditional two-year model ñ taking three years or more to complete. This is a popular option for working professionals who have the desire to change careers or advance further in their current industry. However, most of these individuals do not have the luxury of being able to take extended periods of time off from work in order to enroll in either an accelerated or traditional MBA program. With a part-time MBA program, students are not held captive by their demanding work schedules and are given the chance to better their lives by earning a degree that can put them in a great position to reach their career goals.
The next type of MBA program that is available is the executive MBA program that is designed to match all of the academic needs of managers as well as executives ñ this gives students the chance to earn an MBA in two years (or less) while continuing to work full time. The individuals that can be found in this type of MBA program are generally those who possess a higher level of working experience ñ almost a decade more than usual MBA students. By being able to continue to work while you are in this program, there is the opportunity to immediately instill all of your newly acquired skills and knowledge into your daily routine.
Another option for those looking further their education is a distance learning MBA program. Unlike all of the other previously mentioned programs, when you choose distance learning all of your classes are held online. With your programs taking place off-campus, you will be dealing with a completely different educational format where emails, videos (both non-interactive and previously required), and chat rooms become your basic learning tools. As schools continue to implement the most advanced technology programs available, more and more colleges and universities have begun to offer distance learning MBA programs to all of their students. The flexibility students receive from an online education cannot be matched by different kinds of MBA programs/degrees. There are no worries or concerns over getting to and from a classroom, and students are able to do their work whenever they feel comfortable and ready.
Lastly we have dual degree MBA programs that allow students to combine an MBA degree with another degree ñ such as a Master of Arts or a Master of Science. With this option students have the chance to eliminate additional costs as this type of program is cheaper than if a student were to pursue both degrees independently. Beyond the financial benefits, students are able to reduce the amount of time it would take for them to acquire their desired education. Similar to some of the other MBA programs currently available, this particular option is a fantastic choice for those who have not only the time, but the determination to earn their degrees at an accelerated pace. Students have the chance put together their own educational program and take control.
When you have decided that an MBA is critical to your career trajectory, Princeton Review recommends that you figure out which type of program is best for you. All of the previously mentioned different typed of MBA programs were created to meet the needs of everyone looking to better their lives. Whether you have the time and financial security to be able to take your time or not, there is surely an option that can fit your schedule. While it may be tight and there will be days where you can feel suffocated or restricted by your degree program, if you are determined to advance in your industry or change professions, it is important to remember that the feeling of being hand-cuffed is only temporary. Even if you stretch out your degree program by enrolling part-time, you will most likely earn your MBA in less time than it took for you to acquire your bachelor’s degree.