Types of MBA programs
Full-time | Part-time | Executive | Dual | Distance | One-year vs Two year
1. Full-time MBA
Most of the U.S. universities offer a two-year full-time MBA (full form of MBA ). For those who wish to complete their MBA within a year and get back into the job-market, an MBA from the U.K. wherein many universities offer a one-year MBA program would be ideal. The living cost incurred for a one-year course would also be lower than a two-year MBA program.
2. Part-time MBA
A part-time MBA suits the needs of working professionals who can complete the course on a part-time basis while still being employed. Though this would mean extended duration of the course, the income stream would continue throughout without having to take a break from work.
3. Executive MBA
This is aimed for the experienced professionals from various fields who wish to sharpen their managerial abilities, expand their career potential, gain leadership qualities and acquire international management experience in a multi-cultural environment. Most of these programs have a flexible schedule and are designed to suit working professionals.
4. Dual MBA
This program suits those who find the MBA course clubbed together with the stream they wish to pursue. Some schools like Wharton, Kellogg have been offering a three year joint J.D. / MBA program.
NYU Stern School of Business also offers a range of choices for a dual MBA course. It also has a tie-up with HEC Paris wherein candidates on completion get an MBA degree from both the colleges. The selection criteria for these dual MBA program vary from school to school.
These candidates complete the courses of their choice with the added advantage of having an MBA which is surely a feather in the cap.
INSEAD on the other hand has a dual-campus program wherein candidates can choose to study in their Asia campus at Singapore or Europe campus at Fontainbleau, France. It also has a tie-up with Wharton School of Pennsylvania.
5. Distance learning MBA
This is a means of obtaining an MBA without actually having to attend the program on the campus. This could be done through various correspondence courses, online course material and discussions, teleconferencing and videoconferencing.
The advantage of this model is that these courses can be completed from the comfort of our home and while continuing our current profession. Some of these programs also offer flexibility in terms of their course structure.
One-year v/s two-year program
For those who wish to earn an MBA degree with all the pros associated, but are wary about taking a long break from work or have financial constraints, a one-year MBA just serves the purpose. More often, persons with slightly greater experience prefer to go in for a one-year program.
On the other hand, a lot of young professionals who are in a position to devote more time for an MBA, a two-year stint would work just right. This would give a wider coverage of the various subjects, longer duration of internship, more networking opportunities and thus greater exposure to all that an MBA has in store.