Different Types of MBAs Explained
With so many types of MBA program options available, it can be hard to decide which MBA is right for you. In this article, we’ll take a look at 11 different types of MBAs out there and how they can help you reach your career goals.
Overview of 11 Different Types of MBAs
MBA programs are designed to help professionals advance their business careers, and often offer a range of concentrations that cater to the individual’s interests and goals. The most common types of MBAs are the Executive, Online, Full-time, Part-time, Accelerated, International, Dual Degree, Joint Degree, Hybrid, and Distance Learning.
- The Executive MBA is designed for experienced professionals looking to gain more in-depth knowledge in their chosen field. This type of MBA is offered in a cohort style and typically requires two years of study.
- Online MBAs are tailored to those who need the flexibility of studying from home. This type of MBA typically has no in-person requirements and can often be completed in two years or less.
- Full-time MBAs are the traditional route taken by students who wish to gain the skills needed to succeed in their business career. This type of MBA typically requires two years of full-time study and involves a comprehensive curriculum.
- Part-time MBAs offer the same curriculum as full-time MBAs but allow students to complete their studies at a slower pace. This type of MBA is ideal for those who need to balance their studies with other commitments such as a job or family.
- Accelerated MBAs are designed for students who want to complete their studies at an accelerated rate. This type of MBA typically requires one year or less of study and may involve completing classes over summer semester.
- International MBA focuses on global economic, cultural, and political issues that affect businesses around the world.
- A Dual Degree MBA allows students to pursue a master’s degree in two different fields of study at the same time. This may involve courses from business and another field, such as engineering or public policy, law, medicine, and the like.
- A Joint Degree MBA allows students to pursue two distinct degrees at the same time. In some cases, students may study for an MBA and a master’s degree in another field such as finance or management. In other cases, students may study for an MBA and a professional qualification such as a CPA or CFA.
- A Hybrid MBA is a type of Master’s degree program that combines online learning with traditional face-to-face instruction. This type of program allows students to tailor their learning experience to fit their needs and still be able to take advantage of both online and in-person classes.
- A 4+1 MBA enables students to complete their undergraduate degree and an MBA in five years rather than the traditional six. The program combines coursework from both programs into one condensed timeline, allowing students to save time and money by graduating faster.
- Distance Learning MBAs offer students the opportunity to earn their degree without having to attend traditional classes.
Learn more about What is an MBA?
Executive MBA (EMBA)
An Executive MBA (EMBA) is a program designed for experienced business professionals who are seeking to advance their careers. It covers core business topics such as finance, marketing, operations, and strategic management, while also providing more specialized subjects such as entrepreneurship and international business.
The EMBA is typically offered in a part-time format, allowing students to continue working while they pursue their degree. It usually takes two years to complete and is often taken at the same institution as the student’s undergraduate degree. Unlike other MBA programs, the EMBA focuses on providing students with the knowledge and skills they need to become successful executives in the corporate world.
The Online MBA is a great option for those who need flexibility to continue working while earning an MBA. Carnegie Mellon University’s Tepper School of Business offers a Part-Time Online MBA with classes that can be taken online from anywhere in the world. This program provides students the opportunity to combine online classes with short, on-campus residencies.
Program options include the Online MBA, which can be completed in 0-3 years; the Executive MBA, which is designed for executives with 8+ years of experience; and the Early Career MBA, which is designed for those who have up to 5 years of professional experience. The Online MBA is an excellent option for those who want to take advantage of the flexibility and convenience of online learning without sacrificing quality.
A full-time MBA is the traditional option for graduate business school students. This program typically consists of two years of study, with classes taking place in the fall and spring semesters. Most students take an internship in the summer between the two years. Full-time students typically enroll in more credits than part-time students, allowing them to complete their degree in a shorter timeframe. T
he curriculum for a full-time MBA is designed to prepare students to build, manage, and lead successful enterprises. After completing their core classes, students are free to choose electives that focus on their interests and career goals. Scheduling options vary among programs, so it’s important to research which one is right for you.
Part-time MBAs offer flexibility and convenience for working professionals who want to pursue an MBA without having to leave their job. There are two main types of part-time MBAs: lockstep and self-paced. Lockstep programs require you to enroll in a set cohort of students and move through the program with that same group.
Self-paced programs allow you to complete courses at your own pace, giving you more flexibility for juggling work and school responsibilities. Part-time MBAs usually take two to three years to complete, depending on the course load and desired graduation date. Many part-time MBA programs are offered on campuses, but online and hybrid options are also becoming increasingly popular.
An accelerated MBA is the perfect option for those looking to fast-track their business education and get back into the workforce quickly. Accelerated MBAs usually take 12-18 months to complete, allowing students to fast-track their degree and obtain their MBA in a shorter time frame than traditional two-year MBA programs. These programs typically involve a more intense curriculum, with shorter courses of seven to eight weeks, enabling students to take more courses in a shorter amount of time.
Distance learning MBAs are a great option for those who don’t have the time or resources to attend a traditional on-campus program. Online programs offer the same quality of education, but with the added convenience of being able to study from anywhere in the world. A hybrid program combines online and on-campus components, allowing students to take classes both online and on campus. Additionally, some schools offer 5 year accelerated MBA programs which allow students to earn their undergraduate and MBA degrees in five years.
An international MBA is a type of MBA program that focuses on the global aspects of business and prepares students for a career in international management. It typically has a strong component of international business, international finance, and international marketing, as well as other topics related to international business.
Depending on the program, students may also be exposed to cultural studies, language, and global economics. With an international MBA, students gain the skills needed to understand the dynamics of global markets and how to effectively manage a business in an international setting. This type of MBA is usually cheaper than traditional MBA programs due to the lower cost of living in most countries outside the US.
Dual Degree MBAs
Dual degree MBAs are a great option for those who want to combine their MBA with another master’s degree. These dual-degree programs offer students the chance to pursue an MBA along with a specialized coursework in two major areas of interest, such as an MBA with a Doctor of Dental Surgery (DDS), an MBA with a Master of Science in Applied Finance, or a JD/MBA Joint-Degree Program. Dual-degree graduates gain a comprehensive understanding of both education and business, and use this knowledge to become leaders in their chosen field.
Joint Degree MBAs
Joint degree MBAs are programs that are offered by two or more universities in collaboration with each other. These programs combine the business acumen of an MBA with expertise from another field, such as medicine, law, or public policy. Popular joint degree MBAs include a Master of Public Policy and MBA, a JD/MBA, an MD/MBA, and a DMD/MBA.
Harvard Business School offers a JD/MBA program in collaboration with Harvard Law School, and Duke University has a dual degree program in business and environment. With a joint degree MBA, you can obtain specialized credentials and expertise in both business and another field.
Hybrid MBAs combine the best of both worlds: online and on-campus learning. Students receive a high-quality education that is flexible and convenient, allowing them to continue working full-time while studying for their MBA. UW Foster School of Business in Seattle offers a hybrid MBA program that is part-time and mostly online. It features a comprehensive curriculum that includes courses in finance, marketing, operations management, and more.
Additionally, students will have the opportunity to participate in professional development programs and utilize resources such as career coaching and internships. With a hybrid MBA, you can customize your education to fit your individual needs while still gaining the same quality education as a traditional MBA program.
Distance Learning MBAs
Distance learning MBAs offer students the opportunity to earn their degree without having to attend traditional classes. This type of degree program typically includes a combination of online lectures and assignments, as well as interactive sessions with faculty members. The curriculum for a distance learning MBA often focuses on business theory, leadership, and other subjects that can be applied in the workplace.
Additionally, many programs offer students the chance to pursue dual or joint degrees, allowing them to combine their MBA with another field of study. With flexible schedules and an opportunity to save on tuition costs, distance learning MBAs can be an ideal option for busy professionals and those looking to advance their career.
The 4+1 MBA is a unique type of degree program that allows students to complete both their undergraduate and MBA degree in just five years. This type of program is perfect for those who are eager to begin a career in business or further their education quickly and efficiently. With this option, students begin their MBA studies while completing their undergraduate degree and can apply up to nine MBA credits to their undergraduate degree.
This type of program offers students the opportunity to learn the skills and concepts necessary to excel in multiple business careers. Northwestern University’s Kellogg School of Business, for example, offers a well-regarded MBA in Marketing specialization as part of their 4+1 MBA program. In addition, marketing management is often included in the 4+1 MBA curriculum, giving students the opportunity to learn about this important field. With the 4+1 MBA program, students can start or accelerate their business career with a strong foundation in business knowledge and skills.