You should be able to differentiate the different types of MBA’s offered when you are trying to decide what type of graduate degree will present you with the biggest return on your investment. In the past, there were only traditional MBA programs that offered you general business management curriculum in a classroom setting. Now, there are several different formats, specializations, and even student demographic criteria that make selecting a school and a specific business program more difficult than ever before. Here is your guide to modern MBA offerings so that you can take a program that is customized to meet your needs:
Full-time vs. Part-time MBA Programs
If you want to earn your MBA, you must decide how much time you want to commit and how long you want to spend in school before you will be an MBA graduate. Unlike an undergraduate program, where you can go from full-time to part-time from semester to semester, most MBA programs are cohort programs where your enrollment status cannot change. This is why it is so important that you choose a full-time cohort layout or a part-time cohort layout well in advance.
There are advantages and disadvantages to both options, and familiarizing yourself with these options will help you pick the best personalized option. Full-time participants will study for about 18 to 24 months and typically attend school multiple days throughout the week, according to the Princeton Review. It is important to recognize that scholarship awards most often go to full-timers and may not be available for part-time MBA students. With this being said, full-time is not always practical for individuals who work or have other obligations. If the only way that you will have the time to study is by enrolling part-time, you may want to study for three or more years so that you have a smaller workload.
Executive MBA Programs vs. Professional MBA Programs
A business school with a generic MBA program may accept any student who has a bachelor’s degree and some relevant industry experience, but there are other types of programs that strive to have a more experienced student base. These more specialized degrees are called Executive MBAs and Professional MBAs. Each program has a layout that caters to the demographic of student who is accepted, according to Global Post.
An Executive MBA program, more commonly called the EMBA, is for applicants who are executives or upper-level managers with 8 or more years of experience. These programs meet on the weekends and have a rotating schedule since executives have very busy work schedules. A Professional MBA program may not require as much experience. Instead of 8 or 10 years of experience, PMBAs may need five years of experience and the ability to showcase the academic potential with their academic record.
Global vs. International MBA
With such a focus being put on the global economy, more and more students are choosing to study for a Global or International MBA. The two, while they sound similar, may be more different than you think. International MBA programs allow students to travel to different sites throughout the program so that they can be immersed in different cultures. Global programs, which also focus on cultural diversity, will accept managers from all over the world to the US-based program.
Related Resource: Starting Salary for MBA Graduates
You must decide which type of program is right for you. From full-time to part-time and global to international, there are more options than you might have expected. Compare costs and benefits of the different types of MBA’s offered, and you make a decision.
