A Master of Business Administration or simply better known as MBA, is a very attractive master's degree for a wide range of people in almost whole academic disciplines. This type of degree can give you a broad range of experience in the administrative field. Obtaining an MBA degree does not only help enhance your knowledge in business but it also helps to gain better compensation throughout your career. People who have this type of degree typically get paid more than those who do not. These kind of degrees where originated in United States during the late 19th century by most industrialized countries and companies; since then, a MBA degree has gained world recognition.
In United States, there are three major accrediting bodies.
AccreditationThanks to MBA programs has being also created many Accreditation bodies which job is to ensure consistency and quality standards of both graduate business education, and business schools in many countries.
In United States, there are three major accrediting bodies.
- The Association to Advance Collegiate Schools of Business (AACSB) : Accreditation of Research Universities.
- The Association of Collegiate Business Schools and Programs (ACBSP) : Accreditation of Junior Colleges and Teaching Colleges.
- The International Assembly for Collegiate Business Education (IACBE) : Accreditation of Schools outside the US
- The Council for Higher Education Accreditation (CHEA).
- The Middle States Association of Colleges and Schools (MSA).
- The New England Association of Schools and Colleges (NEASCSC).
- The North Central Association of Colleges and Schools (NCA).
- The Northwest Commission on Colleges and Universities (NWCCU).
- The Southern Association of Colleges and Schools (SACS).
- The Western Association of Schools and Colleges (WASC).
Types of MBA ProgramsAccording to the technology advance as same as the knowledge new learning, there are new and new varieties to earn your MBA degree. Join us, and learn about the advantages and disadvantages of these different types of programs before jumping in!
Two Year MBA ProgramsBefore choosing this kind of MBA Program would be wise to list realistic future goals thinking of how to get the substantial resources to achieve those goals.
- Approximately takes 18 months of term time, almost two years.
- In the Northern Hemisphere starts last days of August and finishes in May of the second year, taking 3-4 months summer break.
- Students must have real-world work experience and take classes during weekdays.
- Commonly it has four semesters taken over two academic years having at the same time the students to take a 3-4 year internship.
- Core courses are taken during the first year, but in the second academic year, students are allowed to take elective courses according to their specialization and areas of interest.
- Students in this program do not work full time because the first priority is school.
- Ideal both for those who want a career change and for those who are looking to improve their potential in the same field.
- Big opportunities of gaining knowledge in specific areas in order to increase performance and job skills.
- Higher level progress during early career due to its effective specialized study.
- Great future opportunities in customizing coursework.
- Basic undergraduate requirements with great academic backgrounds.
- Continue practice of learnt at classes through internships and learning environment acquire new skills.
- Real connection with real world business networks.
- Considerable variety of MBA colleagues in core classes and new business relationships development in advanced classes.
- Full time contact with professional groups/clubs, counselling services, professional guest speakers and career placement.
- Only for those who have defined career objectives and resources (situational and financial backing).
- More devoted to studies than work.
- A focused mindset on the values exchange investment from the program.
- Full time dedication and money intensive.
Accelarated MBA Programs:It is quite different of Two year program, with more intense class and examination schedules; and it is especially directed to those looking for advanced positioning within the same industry. Many schools, like Gwynedd Mercy University, offer accelerated MBAs completely online as well. Owning a MBA will improve your career. You will have the possibility to apply for a better job.
- Eleven to sixteen months duration with less break time between semesters and during the program development.
- No summer breaks, and between semesters there would be seven to ten days off.
- Training and work history must pass rigorous requirements for admission.
- Students are not able work full-time when taking this program.
- Frequently applicants with specific needs will be relocated to another city.
- Highly specialized job skills in the already industry saving significant amount of time.
- More concentration in applicant’s specific needs by focusing on electives courses and reducing core requirements.
- Knowledge and skills development based on learning environment beyond normal classrooms.
- High encourage achievement founded in competitiveness.
- Direct relationships with specialized MBA students setting professional groups/clubs, professional industry guest speakers, career placement, and counselling services.
- Limitation in change careers.
- No breaks between semesters.
- Unfavourable for those who required career advancement or promotions.
- Unable to make plans of any kind during whole this time, including enrolment plans.
Part-Time MBA Program:This type of programs offers their applicants the opportunity to work full-time while attending classes during days off or evenings. Plus, it gives the opportunities to those who want to advance in the same industry, or those who want to change careers of an existed network of business relationship.
- Program classes are on weekday evenings, after working hours.
- Frequently this MBA program takes three years or more of study.
- Most of students are working professionals taking a light course load until the graduation requirements are met.
- Uncommonly internships are offered due to the schedule courses are throughout the year.
- Very similar to full-time MBA programs, however, they are more focussed on the core courses and just a few of concentrated study courses.
- The classes are longer than usual, so that this program takes double time than a two-year program.
- Scheduled classes fit with your job work hours, either before or after them.
- Development of new skills and improve of the existing with no current job interruption.
- Exploring and implementation of real-world problems and situations into the classroom environment.
- More available loans and tuitions.
- Hand able affiliations between the current organization and the university offering the program.
- As same as the longer classes, the studying costs are longer spread out in order to not have additional debts.
- Not always available tuition assistance.
- Students’ limitation because of many business schedules.
- Constants travelling and/or relocations which do not match with work hours.
- No credits transferral switching from a part-time to full-time program or vice-versa
Executive MBA ProgramsThis type of MBA program is designed for those already field specialists looking for more successful skills and meeting upper levels of managers, executives, and even business-related graduate degree in two years.
- A higher level in work experience is required, at least six years.
- Students will be judge according to their knowledge into the program.
- Most schools award degrees to students in two years or less.
- Schooling and/or job requires 80 to 100 hours per week.
- Higher potential students and skills increment for field specialists.
- Top managers are more findable in these programs.
- Major business disciplines in a broad curriculum.
- More defined general management procedure understanding.
- Leadership skills improvement using strategically communicative vision, motivation and collaboration.
- Real practice experience into a global business environment.
- Interpersonal abilities and skills learned effectually.
- Network contacts with other students and participants.
- Real student’s commitment with a rigorous program.
- Extra time-off at work for classes if necessary
- Many disciplines with non particular specialization in either.
- Powerful balance between work, school, and personal life.
- Many absent students during classes taken at weekends.
- More expensive than any other traditional MBA program.
Dual or Joint MBA ProgramsCurrently it is necessary and even better, partnering a MBA program with another graduate program. Some most frequent programs are International studies, Laws, Public Policy, Engineering, Healthcare Administration and Technology.
- Despite both programs are taken dually, each one must be applied for separately.
- It is directed either for those who are looking to change careers or those who are early in the progression of their careers.
- Most students and applicants rather take these programs at the same institution.
- When programs are taken separately, there are some cooperative or transferability arrangements.
- Depending on the additional program a dual degree would take three or four years to finish.
- More efficient than trying to take two separate degrees because it is not necessary to take same classes.
- Improve knowledge in those change-careers students and those who are progressing in their careers.
- Get two degrees instead of only one, but faster.
- More time of absence at work.
- Difficult of maintaining existing job skills and knowledge.
- Not an option for those who want to focus on only one career.
- Necessary to take the time off of work.