Management Education is having great demand in India and in the abroad too. In the management education, one encouraging point worth penning in is the continued buoyancy of the MBA employment market. An MBA program is an internationally accepted postgraduate level degree in management field. If you complete MBA course from top business schools then you will be having the chance to get better opportunities in the top companies with huge packages. MBA Programs come in a wider variety of formats. The most common types of MBA programs are:
- Full-time MBA
- Executive MBA
- Part time MBA
- MBA Through Correspondence
- Distance MBA
- Online MBA
It is always useful to get a gist of why people choose to do an MBA over other forms of business education or professional qualification. Whether you are looking at MBA programs in India or abroad, the choices can make the process overwhelming. It takes a lot of effort, to shortlist the best MBA courses from the type of the MBA programs.
People choose to do an MBA degree after concerted deliberation and meticulous planning but before that, it is needed to know the objective to be achieved through MBA program, which inspires lots of students for it. An MBA program
- Builds hard-skills in the areas of management and leadership.
- polishes a range of soft-skills like communication, motivation, and negotiation.
- Imparts a strong theoretical foundation in business concepts.
- Provides practical opportunities (via internships, group assignments, and individual projects) to test what students learn in the class.
- Opens up global opportunities for career growth.
- allows MBA students to start an independent business after graduating.
Today, there is a splendid global selection of MBA programs options available in terms of curriculum and electives, length of the program, mode of study, location and intensity. If only choosing which MBA program to go for were as carefree as rummaging for the best candy in a pick-n-mix. Having an extensive range of MBA program opportunities, no more than a Google search away is terrific, but the process of making the final choice can be daunting.
However, if you can structure your process and knock out the options that don’t fit your needs, selection can become a little easy.
Types of MBA Programs
Let’s take a look at the various formats of the MBA programs. It is important to point out that the differences between one MBA program type and another are not always clearly delineated – there’s a lot of flexibility and overlap. Each one has its pros and cons.
Though there is no single best format, the full-time MBA format can get you the biggest bang for your buck. The average duration of full-time MBA programs can range from 1 to 2 years.
The Full-Time MBA Program
Full-time MBA is a 10 to 24 months course with classes on week days. Participants of this program opt to either leave their jobs, for between 10 and 24 months to take the full-MBA study plunge. Eligibility for full-time MBA is Bachelor Degree and aspirant needs to clear the Entrance Exam. It provides the in-depth study of the chosen program. It also gives summer internships in companies for practical experiences on real case studies, which increase knowledge on present management issues.
Three program subtypes fall under the full-time umbrella. They are:
- The Two-Year MBA: This provides students with a summer internship opportunity halfway through the program. Participants of this longer program tend to have more opportunities to explore program electives, useful for career changers. Candidates tend to have less working experience.
- The One-Year MBA: For those who wish to complete their MBA within a year and get back into the job-market, a one-year MBA program would be ideal. A more intensive, condensed option, better suited to those who have a clearer idea of their desired outcomes. There might be a greater focus on real-life projects and simulations. This is a format with more functionally-confident candidates enrolling slightly later in their career. The living cost incurred for a one-year course would also be lower than a two-year MBA program.
- The Accelerated MBA: A midway option aimed at candidates who are confident in the functional core modules, and do not need to study them as rigorously.
The Part-Time MBA
The part-time MBA degree is a full-time program equivalent coursework but over a flexible longer period from 2-3 years. Students can continue in employment as classes are held at campus during evenings, or off-office-hour or over weekends. The Eligibility for this MBA program is that you should be a graduate and admission is direct without any entrance exam. It covers the curriculum topics sufficiently but has less focus on internships.
Traditionally these programs would require you to be on-campus for classes, so would be best suited to candidates who live in relatively near to the school. Part time MBA is a very hectic schedule with daily work and study. But the fees are less than full-time MBA.
The Distance Online MBA
The distance online MBA is a part-time degree usually undertaken by students who cannot commit to a set location each week, or even to a specific number of study hours regularly and want to remain in their current job role. The eligibility to apply for this MBA program is graduation degree. It covers syllabus completely but there are no direct internships which affect the practical experience.
In this format of MBA program, participants study the course materials via a designated software platform and will interact with professors, mentors and peers using video conferencing, discussion threads, email and so on.
You can access course content as and when you want, and there’s no fretting over the logistics and extra expenditure that regular on-campus class can demand. Plus, you can enjoy the expertise of academic faculty and the support of an established university from the comfort of your own location.
Reputable programs are usually not conducted entirely remotely, featuring an on-campus requirement. This can be a residential leadership week at the beginning of the course, for example, or projects, events or conferences later on.
The Executive MBA (EMBA)
The Executive MBA is geared toward more senior professionals who want to upgrade his skills with latest management techniques. Traditionally, they would be company sponsored, though recent years have seen an increase in self-funded candidates. The average executive MBA candidate in 2016 was 38 years of age.
This part-time degree is usually offered in a modular format, where working professionals can attend classes over a set number of intermittent residential weeks, or over weekends and evenings. EMBA programs Fees are very high, can be fast-tracked so that they are completed in as little as 18-24 months, or studied over a longer duration.
Here you got the details about different formats of MBA programs. Have any query regarding MBA programs, you can discuss with us via the AfterGraduation Forum. Share this article with your friends, who are planning and preparing for Management education.