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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