Different Types of MBA Programs

MBA programs have evolved over the years and now have available various versions to meet the different needs of students. The most prevalent MBA options are as follows: full-time twoyear MBA, accelerated one-year to eighteen-month MBA, parttime MBA, and executive MBA.

MBA for Me

Two-Year MBA Program

The two-year MBA program is extremely popular in the United States. The full-time MBA program is ideal for career changers for two reasons: (1) It offers greater opportunity to step back and reflect on their experiences and goals, and (2) It provides them with greater flexibility to take many classes in the new career they are pursuing. This option also offers students the opportunity to pursue an internship the summer after their first year to assess whether the new career is a good fit.

The curriculum of two-year MBA programs provides students with the opportunity to gain a broad exposure to the different business areas as well as a chance to develop a specialization.TheMBA programs vary in how much curriculum flexibility they offer to the students.
Applicants who pursue the full-time two-year MBA program find that it is the most expensive MBA option given the price tag and the lack of income for two years. Some firms offer sponsorship for their star employees to pursue a full-time MBA program.

Accelerated MBA Program

The accelerated MBA program typically lasts for one full year or eighteen months and can start in the summer or winter. This type of program usually does not offer an opportunity to work in the summer because students take a full load of courses then. This program is usually a fit for someone who is already in his or her industry of choice but who needs to build up specific business skills. Also, entrepreneurs who plan to return to a family business will find this option attractive because of its shortened length.

Part-Time MBA Program

The part-time MBA program is a popular choice for individuals who want to remain in their job while developing their business skills. Many firms are supportive of employees who wish to pursue a part-time business degree because they are able to retain them. Some even offer the option to sponsor the applicant with some stipulation on the number of years the employee must remain at the firm. Each firm varies in terms of their policy on eligibility and sponsorship. You may even have to take the GMAT and score at a certain level for your employer to sponsor your application. It is important to find out if your firm offers tuition reimbursement and the terms associated with it.

Executive MBA Program

Of all the MBA program types, the executive MBA has the most variation available (a combination of weekends, evenings, onsite engagements where students congregate on campus, and online study). Many top institutions offer an Executive MBA program while others offer certifications and other short-term executive education training. An example of the latter is Harvard Business School’s executive programs that last for a few days to several weeks that focus on developing the managerial skills of seasoned professionals.