A variety of MBA programs, from full-time cohort options to EMBAs and online MBAs, cater to a range of needs
If you’ve decided to return to school for business, you’ll want to
choose the program that best fits your career goals, experience, and the amount
of time you want to put in. The classic two-year MBA is not the only option:
schools offer plenty of different MBA programs based on your level of work
experience, your geographical distance from the program and the amount of time
you are able to devote to the program.
Full-time MBA
The full-time MBA is geared towards candidates with two to seven
years of work experience, and usually requires students to quit their jobs and
devote themselves completely to studying. In the United States, full-time MBA
programs typically last for two years, although a growing number of US-based
business schools are offering accelerated, one-year MBA programs.
Two-year, full-time MBA programs typically facilitate networking at the
beginning of the first year by assigning students to cohorts who take the core
classes together. Other schools call this the cluster system, while still
others assign students to study groups with four to six other people.
Some full-time MBA programs require students to complete a summer
internship between the two years of studying; sometimes, this internship will
turn into a job for students after they graduate.
The second year of a full-time MBA program is often dedicated to
elective courses or concentration options.
In Europe, as well as in the UK and some other parts of the world,
full-time MBA programs typically last for only one year, not two. While these
one-year programs usually don’t allow students to complete an internship, some
offer consulting
projects as an alternative to an internship.
Many students use full-time MBA programs to make substantial career
shifts, such as from one industry to another or from one country to another.
Part-time MBA
The part-time
MBA is intended for students who can’t or
don’t want to leave their jobs. Students who pursue a part-time MBA can also
work while pursuing their degree, meaning that this option is more flexible
than a traditional two-year full-time MBA program. Some part-time MBA programs
are flexible and can last anywhere from two years to seven years (or more),
depending on how much time students devote to their studies. Many schools allow
students the opportunity to take courses on weeknights or weekends, depending
on their schedules.
Some schools try to recreate the camaraderie of a traditional full-time
MBA by assigning part-time students to a cohort. Other schools allow part-time
students the opportunity to pursue a specialization, such as marketing or
finance.
Often, students will do part-time MBAs at local business schools. Graduates
of part-time MBA programs usually can't expect the same kind of career mobility
that a full-time MBA program offers.
Executive MBA
Unlike the part-time MBA and the full-time MBA, the Executive MBA is geared towards a specific kind of professional:
those with substantial leadership experience. Students at these programs
typically have at least seven to ten years of work experience. EMBAs are also
part-time, with a variety of different scheduling options. Some schools offer
classes on weekends, others in the evenings, and still others offer modular
scheduling options, such as one week per month. These programs typically 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.
Online MBA
The online
MBA is an alternative for students who need
flexibility, in terms of geography and scheduling. Not to fear, though: online
MBAs are equivalent degrees to in-person MBAs; students’ diplomas usually do
not indicate that they pursued their degrees online. Many online MBA allows
students to complete their coursework on their own time, although some are
structured in a cohort format. These programs typically take three to four
years of part-time study, although some can be completed in a shorter amount of
time. Online MBA programs also typically offer several intakes per year.
Many online programs deliver classes “asynchronously,” that is, through
pre-recorded lectures and the like; although some programs offer real-time
lectures. These “synchronous” classes require students to be online at specific
times.
Although some online MBAs allow students to pursue their course of study
at their own pace, some schools also offer community-building opportunities.
Some schools require students to meet using webcams for an online discussion every
week, while other schools offer periodic residencies to facilitate networking.
Blended MBA
The blended MBA can be thought of as a combination of the online MBA and
part-time MBA, combining periods of online study with face-to-face
sessions. Like the online MBA and part-time MBA, these programs are intended
for working professionals who don’t have the resources or desire to quit their
job to study. These programs often include several face-to-face workshops per
semester, plus study-as-you-go online tasks and discussions in
electronic forums.
Global/International MBA
The
global/international MBA is not an official separate category, but it’s an
increasingly common designation for many MBA programs. These programs tend to
attract a higher percentage of international students and faculty than regular
programs, and also don’t focus their discussions on any one country’s business
practices. Several of these schools also offer students the opportunity to
rotate between different business schools during their course of study; for
example, a student might spend several months pursuing a consulting project in
an emerging market, or spend a month in China, Japan or Korea. These programs
are often geared towards students pursuing careers in international business.
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