Having reached this point in your life where you’re wondering whether to go and apply to an MBA program, you’ve probably started researching all those kinds of ways to become a proud owner of an MBA degree. To choose between the MBA flavors (including one-year/two-year, global/executive, or full-time/part-time/online), you need to take into account the question of what exactly you want the degree for
The first degree on our menu is full-time MBA (2-year program). This is what you imagine when thinking of obtaining an MBA degree. The full-time version has four semesters and has an internship included between the two years of study.
This kind of MBA is the best for young people of 20-30 years old who haven’t had time to gain a considerable experience, but have an ambition to grow and climb up the career ladder, or maybe to try out another field, or even to found a startup. Keep in mind that, while job experience is a good thing to have when applying for an MBA, there’s a good chance to land a pass to university straight out of college.
Points in favor: A full-time program doesn’t make you study and work at the same time: it makes you concentrated on your studies only. You will be able to meet other students, create a new network, visit various organizations and companies, take part in campus life and enjoy student life in general.
Points against: Full-time MBA, while giving the most knowledge and skills, is also very expensive. Even more so, if you consider having to leave your job for these two years. If you have a lucrative career going, you might want to keep it while getting your MBA.
The second possible choice is Executive MBA (EMBA). If you are in the middle of a good career right now, this could be your choice. EMBA programs are designed specifically to study without having to leave work: all classes are conducted on weekends and/or Fridays.
Very often, companies help their prospective executive-level employees obtain this degree via sponsoring or giving a promotion.
Points in favor: In this environment, you’ll be able to have classroom discussions with experienced people, not budding professionals.
Points against: Because of its specifics (weekends only, working while studying), EMBA is much more difficult to tackle successfully. The cost of the program is also higher than a common full-time MBA. Also, commuting to your university on weekends could be difficult because of long distances.
The third variant is part-time MBA, which is also fitting for students who wouldn’t want to leave their jobs while studying. Of course, the program takes much more time than a full-time or executive MBA (3-4 years). Often, such programs hold evening classes.
Part-time MBA is for people who want neither the time commitments of a full-time degree not the high cost of an EMBA.
Points in favor: You can keep your ongoing career without paying tuition fees as high as EMBAs.
Points against: Many perks of full-time programs are unavailable, including on-campus events and other student activities, like networking. If you are considering another field of professional interest, part-time MBA won’t be your best choice.
The last one in the range of MBA programs is online MBA, which is suitable for people who don’t need personal interaction in class and/or want to save time on commuting. This will be a wise choice for these who prefer flexibility in their studies.
If you can’t move to a place near your university and don’t want to leave your job during the time of studying, this program will probably suit you.
Points in favor: This kind of MBA is the most flexible out there. You don’t have deadlines, you can save on commuting and the cost is much lower.
Points against: For all this, you’ll have to sacrifice personal interaction with teachers and other students, extracurricular activities, campus life and networking opportunities.
The variety of MBAs is not limited by the list mentioned above: there are also Global MBAs and business courses. Choose what suits you best!
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