Today, business school aspirants have a lot of options to pursue a management program. Business schools offer different types of MBA programs depending on the needs, flexibility, costs and goals of the student. Here are a few commonly offered MBA programs around the world:
– Full-time MBA
The most commonly taken MBA program. Typically, the full-time MBA program is 1-2 years long. Participants need to attend classes full-time at a business school. Such programs are typically rigorous in nature leaving candidates with very little time for leisure or work related activities. In the two-year program, students also get an opportunity to pursue a summer internship which provides a great learning experience. This full-time MBA program is ideally suited for candidates with 1-2 years of work experience.
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– Part-time MBA
This type of program is suitable for candidates who do not want to quit their existing jobs. This program is usually completed within 3-4 years. Typically, students take classes in the evenings or over the weekends. This type of program will generally cost lesser than a full-time MBA program.
– Online MBA
That’s the newest trend among MBA programs. Students have the flexibility of taking an MBA program right from the comfort of their homes. They generally cost a lot lesser than full-time MBA programs. The biggest advantage is that students from remote locations can have access to a high quality management program anywhere in the world. For instance, a student can India can learn from some of the best institutions in the US in the online MBA program. However, students need a good amount of discipline and time management to succeed in this format. Employers are increasingly seeing value behind an online MBA program.
– Distance learning MBA
For a while, both online and distance MBA programs were considered pretty much the same things. While a distance MBA program may include online components, typically participants are required to attend some classes or meetups physically.
– Executive MBA (EMBA)
Executive MBA programs are designed for experienced working professionals. Typically, it is offered in a part-time format over 12-24 months. You need to have atleast 5-10 years of experience if you want to pursue this format. In many cases, employers sponsor the programs for participants. It is quite a popular option among many working executives.
– Global EMBA
Similar to an executive MBA, the big difference here is that students experience different countries and cultures. Global EMBA programs are combined programs between different b-schools and campuses spread across the globe. Along with the course workload, participants have to also manage the travel schedule. However, it offers a rich experience of studying and working with professionals from other countries. It is more expensive than regular EMBA programs.