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The different types of MBA programs – The pros and cons

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MBA stands for Masters of Business Administration; it is recognized throughout the world. This degree requires people to have a skill that is useful in business and management. With an MBA a person does not only serve the business world but they serve a number of sectors like public sectors, public, and other industries.

The majority of the MBA programs have subjects like accounting, marketing, economics, and operations and few elective courses, these elective courses let people allow people to pursue their own personal interests in the field. MBA being a business degree, some of the institutes requires its students to either have some kind of internship experience or actual job experience. So, that they can have a good job experience.

Types of Programs in MBA:

  • Business Management.
  • Strategy
  • Operations Management.
  • Economics
  • Marketing
  • Leadership
  • Finance
  • Accounting
  • Human Resource Management.
  • Finance
  • Technology Management.

These are a few different programs that people get themselves enrolled.

Types of MBA:

MBA programs have different durations; the different institute offers a number of programs.

  • 3-Year Full time:

The 3-year full-time MBA program is a program of 6 semesters, it is offered to those candidates, those who do not have a background of Business Administration. In the first year really basic knowledge is provided to the student, then from 2nd year, they are taught things a little bit in-depth but not like the 2 year program. But since not everyone switches their field. So, this option is quite limited and not many schools offer this.

  • 2-Year Full Time:

A 2-year full-time MBA is program of2 years, which comprises 4 semesters. During the first of the year of the program, the students are taught general knowledge regarding Business Administration, so that the students will develop their skills. Then in the 2nd year courses are taught into depth, as it is essential for one to have a basic knowledge. And some of the students enrolled in this program usually have some work experience in their relative field, of about 2 to 3 years.

  • 1-Year Full Time:

This is the type of program in which, students are required to pursue 11 months or 16 months of studies. The reason why this degree program is short is that the individuals or students taking this program are already experienced and professional in their field, but they want to have more knowledge about their field. One to point out is that this program has strict guidelines and prerequisites. So, students will have fewer chances of internships because most of them are experienced.

  • Executive MBA:

Executive MBA also goes by E-MBA; this program is completed in about 2 years or less. This is a fast type of part-time program. The classes held are usually on weekends and Fridays. This program was introduced for people looking to take a step further into Leadership Management. As the courses offered in this program are, communication, strategy, etc. 

  • Part-Time MBA:

This program is for people, who already are perusing their careers in this field. It offers fewer courses each semester so that the people taking this program do not have to quit or miss their job hours.

  • Online MBA:

The online MBA program is for people with busy schedules, they can take this program from the flexibility of their home and according to their schedule, which allows them to complete with slightly longer time.

 

Pros:

  • Good Salary:

Getting an MBA degree gets you better pay for sure, people with an MBA earn more than people with a BBA degree. Which canhelp them pay off their student loans, they had to take in order to pursue this program.

  • Study Online:

MBA also has an online program, which allows people to get their classes from home and at their flexible timings.

  • Combined Programs:

There are a number of schools that offer a combined program, meaning BBA and MBA, that is reducing the time overall.

Cons:

  • Loan:

MBA degree opens up different and better career opportunities for students, but when it comes to online MBA or an MBA program which extends, then it adds up to their loan.

  • Extensive:

Some people end up taking a generic course, which makes their degree somewhat generic. In order to get good jobs, one must have specialized MBA courses.

Conclusion:

We discussed different programs of MBA and their duration. More importantly, we have also discussed the pros and cons of getting an MBA degree, remember that the pros prevail.

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Dr Hubert Silly
Hubert (hubert@mbacentereurope.eu) is the Founder of MBA Center, an elite test prep and admission consulting organization collaborating with the best test prep centers in Europe and India. Over the last 24 years, Hubert has developed the World MBA Tour and co-founded ACCESS MBA. Hubert’s passion is teaching, though. Holder of a perfect 800, Hubert has trained thousands of GMAT students, written and developed over 50 TOEFL, TOEIC, IELTS, SAT, and GMAT prep books, software and e-learning platforms. Hubert has the most impressive track record in the industry with 3,000+ MIM, MIF, MBA, EMBA, and Ph.D. students accepted in the best universities in the world such as Harvard, Wharton, Stanford, MIT, Columbia, Chicago, INSEAD, LBS, Oxford, Cambridge, HEC.