FIELDS OF EDUCATION,
CAREER OPTIONS AND PROSPECTUS
MASTER OF BUSINESS ADMINISTRATION
Types of MBA Programs
Choosing an MBA program is an important decision for anyone who is
interested in attending business school. There are many different MBA programs
that are currently available.
Full-time M.B.A. (2 years): Known as the classic model, these
traditional programs take roughly 24 months to complete and generally adhere
to the U.S. academic calendar (October–July). Under this model, coursework is
generally divided into two or three semesters. B-schools offering these
programs usually expect the students to live at the institution or nearby
(adding to the overall cost). Graduates of these programs are considered to
have premier M.B.A. qualification and are the first choice for recruiters
seeking qualified M.B.A. graduates.
Full-time M.B.A. (1 year): Project assignments and practical exams may
extend past a full calendar year. In fact, 18 months is not uncommon for
"one-year" programs. When considering this program do not underestimate its
difficulty. Completing course work in one year is more aggressive and intense
than the two-year option. This option may be very attractive to people wanting
to reduce their time away from work. Consider your stamina and determination
Part-time M.B.A. (2–8 years): Part-time programs are becoming the most
popular option for students seeking an M.B.A. Your B-school's part-time
program may offer courses on weekday evenings or on the weekends. These
programs are extremely attractive to individuals living nearby who do not want
to interrupt their full-time work schedule. Recruiters often recognize the
determination shown by M.B.A. students who complete their coursework while
working full-time. Core courses are similar to the “classic” M.B.A. program
but often lack the range of course offerings.
Distance learning M.B.A. (2–3+ years): Students learn primarily through
audio-visual and self-study avenues including phone, fax, or Internet.
Seminars, summer school, or weekend sessions may also be required to complete
the program. Distance learning M.B.A. programs are designed for individuals
who cannot attend regular classes because of geography, schedule conflicts, or
similar reasons. Succeeding in these programs requires self-discipline. If
you’re used to learning on your own, you may excel in this format, which
generally has minimal, if any, group project work or discussion sessions.
Modular M.B.A.: These programs interweave your academic experience with
work (and completion times vary). Not only will you be able to apply what you
learn to a real-world setting, but you also gain actual experience. Programs
like these are popular in Europe.
Corporate M.B.A.: This is a fairly new program, also known as a
consortium M.B.A. Courses are taught at a business school. The school and the
local business community agree on the curriculum. These schools seek diversity
and encourage group discussions and project work to fuel new ideas that will
ultimately benefit the community and improve local commerce.
Executive M.B.A.: Companies nominate their executives and pay the
required tuition and fees to ultimately get a highly trained executive. These
programs offer flexible schedules to accommodate busy executives, including
evening and weekend courses and individual project work.