So, you’ve thought about getting an MBA but you’re not sure where to start or what type of MBA program you want to do.
Don’t worry, there are many types of MBA degrees that can benefit your career, and depending on your goals, you can be well on your way to a business degree that is best suited for you.
Whether you are just starting out in your career or if you’re an experienced professional, an MBA is one of the most versatile degrees that can be specialized for your needs.
What is an MBA?
Before we get into the different types of MBA degrees, what exactly is an MBA?
Short for a master’s in business administration, an MBA is a graduate degree that provides theoretical and practical training for business fields.
It is usually a level up from an undergraduate business degree and focuses on building skills for a broad range of concentrations such as:
- Human Resources
Getting in-depth training within these fields is what helps MBA graduates succeed in the business world that is constantly changing.
Is it worth getting an MBA?
Graduate degrees can be a hefty investment so it’s worth taking the time to research how it can benefit your career.
On average, MBA graduates earn higher salaries than working professionals even when debt is factored in.
The quality and quantity of job opportunities can increase, while also improving your professional network.
An MBA is also a great way to build your leadership and interpersonal skills that can set you apart in the job market.
By challenging yourself in environments where you need to collaborate, you can be better prepared for situations that require teamwork and adaptability.
Now let’s get into the different types of MBA programs that you can pursue.
Types of MBA Programs
1. Two-Year Full-Time MBA
This program is generally spread out over 4 semesters in two years and is offered by most universities.
This type of degree is great for those who want a career change and can fully immerse themselves in their studies for a comprehensive business education.
During your first year, you will probably cover general business skills, while your second year will take a deeper dive into the discipline of your choice.
A two-year full-time MBA program often includes more internship and networking opportunities due to its extended time which can lead to full-time job offers after graduation.
2. One-Year Full-Time MBA
This program is usually condensed in a 12–16-month time frame and is great for those who want to earn their degree in a short amount of time.
The accelerated one-year program provides training on core business fundamentals and chances to specialize, although there may be less time for internship and networking opportunities.
Therefore, this type of program is great for those with previous work experience who want to accelerate the career path they’re already on.
3. Part-Time MBA
Part-time MBA programs are designed for working professionals who want to earn an MBA without leaving their current jobs.
These programs offer flexible schedules, allowing students to attend classes in the evenings or on weekends.
While they typically take longer to complete than full-time programs, they allow you to gain practical experience while studying, making it easier to apply what they learn in real-world situations.
4. Online MBA
Recently, online MBA programs have become popular due to their flexibility in being able to complete the degree remotely.
Working professionals with geographical constraints can choose this program and take classes at their own pace while still fulfilling the demands of their busy schedules.
Online MBA degrees usually cover the same content as a physical program with a wide range of specializations and often provide interactive online resources and virtual networking opportunities.
5. Executive MBA
Executive MBA programs or EMBA programs target seasoned professionals who are looking to take the next step in leadership.
They are often structured as weekend or modular programs, accommodating the demanding schedules of executives.
Topics focus on advanced leadership, strategy, and management skills, and the curriculum is tailored to address the unique challenges faced by experienced professionals in senior positions.
How to Choose The Best Type of MBA Program
Ultimately, choosing the best type of MBA will boil down to your career goals, how much time you can dedicate to school, and your level of experience.
It can be overwhelming to figure out the right fit for you but taking the time to sit down and figure out where you see yourself in 10 years can help make the decision easier.
If you are still undecided on what to pursue, our Free Career Center is a great resource to help guide you in the right direction.
Over to You
What types of MBA programs interest you the most?
Share your thoughts on our social @netwerkmovement and let us know which program you intend to pursue.
We look forward to hearing about your grad school journey.
Don’t forget to also send this article to anyone you know who might be interested in an MBA as well!