Types of MBA Programs
Know more about various types of MBA programs.
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Two year programs
Two year MBA programs are the most common and popular type of MBA programs. A typical MBA program leads to post graduate degree or diploma. Though some 2 year programs do attract experienced candidates, most 2 year programs have large percentage of incoming class consisting of freshers.
The two year programs are faculty-driven and focus more on technical aspects of management. On placements side, 2 year program are good for those who do not have much managerial experience. The typical 2 year program places a candidate at the management trainee or some such entry level position in management.
A two year program offers more opportunities to candidates to explore various avenues in management. The extra time available and internship at the end of first year, make 2 year program ideal for those who are not very sure about what they want to do post-MBA.
The course is divided into two parts core terms and elective terms. The first part (popularly known as core terms) consists of the fundamentals of subjects like accounting, economics, finance, statistics, marketing, operations, organization behavior, etc. Some schools like Indian School of Business also offer a course on entrepreneurship as part of core terms. In the second part, students focus more on advanced courses in Finance, Marketing, Operations, IT, HR. The courses taken by students depend on the specialization they wish to go for.
There is an internship between first year and second year. As most students in Indian Bschools are not experienced internships give them an opportunity to experience the corporate world. Admission to 2 year program is based on performance in a written test followed by a GD/PI. Most of these institutes do not require full time work experience but some institutes have started giving preferences to experienced candidates.
One year Programs
One year MBA programs are best suited for candidates who already have worked in industry for at least 2 years. These programs offer an advantage to such candidates because they are fast paced and get over in a year. These programs are generally more rigorous than 2 year programs. These programs are also typically more expensive than 2 year programs. At the same time 1 year program are best suited for those who already have specific work profile in mind while entering the MBA.
One year programs are generally more participative in nature. Student share their industry knowledge with fellow classmates and actively participate in class discussions.
One year program are typically costlier than 2 year program. But they offer higher returns on fees paid as the candidate earn higher average salary and also saves 1 year in the process.
One year programs offer more lateral placements as compared to 2 year programs. Thus a typical reputed 1 year program will place candidate at a higher level in management than 2 year program. This also results into higher average salary for a 1 year program than 2 year variant.
Duration of the program varies from 11 to 16 months. Some of the popular 1 year programs are -
- 1 year PGPM from Indian School of Business, Hyderabad.
- PGPM from Great Lakes Institute of Management, Chennai
- PGPM from SP Jain (SPJIMR) Mumbai
- General Management Program from XLRI
- PGPX from IIM-A
- PGPEX from IIM-C
- IPMX by IIM-L
Executive MBA programs
Similar to One year programs, executive MBA cater to working professionals. Some of the programs are full time and some are part time. The executive programs are very rigorous in nature. The part time variants allow the candidate to continue in their existing jobs while earning the degree, the candidates follow a very demanding schedule. They need to complete their courses on week ends while juggling the family and work responsibilities. Having said that, executive MBA offers an opportunity for working students to move into management positions in their current organizations. These programs also generally require a corporate sponsorship. They also do not offer placement facilities to the students.
Part-Time Programs
These programs are designed generally for working professionals who cannot leave their jobs to pursue a full time program. Though they are very challenging in nature, these programs are generally not as rigorous as fulltime programs. They generally take 3 year and classes are conducted in the evening or on weekends.Distance MBA
There are two types of distance
MBA. Those offered through DirecWay are more interactive in nature.
Candidates searing in any part of the world can interact with faculty.
The learning happens mainly in audio-visual mode. Though these programs
offer a great opportunity for the executives who travel a lot and also
for the candidates in remote part of the country, they are limited when
it comes to networking opportunities with other students. Further as
getting into these programs is much easier, these programs do not enjoy
the kind of reputation that regular MBA programs from the same
institutes enjoy. But these programs do offer an opportunity for the
candidates to learn from some of best teachers and institutes in
the country.
The other type of distance programs is traditional
correspondence program. These programs offer great opportunity to
candidates in remote parts of the country but suffer from similar
limitations such as lack of networking opportunity.
