The right MBA program would involve consideration of your personal interests, career goals, and constraints.
Here are the different program options available to you:
1) Two Year MBA
Target Audience: Perfect for early-career executives who are clear about entering the management cadre.
Key Advantage: Allows greater level of experimentation, time for internships, and exposure to different electives.
Key Disadvantage: Lack of many scholarships, so usually funded through bank loans which can take up to 10 years to repay.
2) One Year MBA
Target Audience: Ideal for mid-career executives seeking a change in function, a change in industry or both.
Key Advantage: Lower opportunity cost in terms of foregone salary as compared to a two-year MBA.
Key Disadvantage: Accelerated pace enables width of knowledge, instead of depth.
3) Specialized MBA
Target Audience: Tailor made for technical professionals who want to gain business knowledge in their chosen field.
Key Advantage: Allows for building of subject matter expertise and opportunity for further academic training and study.
Key Disadvantage: Proactive networking is required to get niche positions which might not be advertised.
4) Online MBA
Target Audience: Excellent for working executives looking to gain business acumen at their convenience.
Key Advantage: Self-paced, cost effective, and does not disrupt work-life balance.
Key Disadvantage: Limited opportunity for face-to-face meeting with lecturers and networking with co-learners.
5) Flexible or Part-Time MBA
Target Audience: Works well for working executives looking for career advancement within their current organization.
Key Advantage: Evening and/or weekend classes combine well with the work schedule.
Key Disadvantage: Completion of MBA requires commitment and blocking of family or leisure time over an extended period.
6) Executive MBA
Target Audience: Geared for highly experienced executives poised for senior leadership positions.
Key Advantage: Provides a global network of peers from different countries, sectors and functions.
Key Disadvantage: Relatively costlier, sponsored by company or those who can afford to self-finance.
Last Updated: 11 May 2017