Masters of Business Administration (MBA) is a post-graduation course that originated from the USA in the early 20th century. Gradually, this course became very popular worldwide as it renders all the necessary skills and knowledge to run or start your own business. The MBA degree can be completed in general or a specific specialization in fields like accounting, finance, marketing, sales, rural, retail, analytics, etc depending upon an individual’s interest.
The MBA courses targeted at working executives come in various flavors – executive, part time, part time executive, one-year executive and so on. As a result, many students face a dilemma about the best option for them.
This is the most common and traditional way to complete an MBA degree. Students prepare for their desired competitive exams during or after their graduation. After the GDPI process, they are granted admission. The course is more expensive compared to part-time MBA courses. Students need to devote their full time to the course leaving everything aside. They have to concentrate on the course without getting distracted by other professional commitments.
The design of the course enhances learning through case studies, projects, assignments, presentations, seminars, etc. Some institutes require students to live on or near campus due to an extensive workload all the time.
Full time MBAs are more challenging and industry also places more value on those who have these degrees. Hence such programs are preferred by students who can afford to not work and earn for 2-3 years. All the reputed B-Schools offer all the necessary exposure and lucrative placement options making the course worth the investment in terms of money, time and energy.
Some working professionals take a break for 1-2 years from their career, and decide to pursue full-time courses. These courses are popular since they facilitate the transition of a person from lower management positions into higher management positions.
Executive Part-Time MBA
Executive MBA courses are popular among working professionals. There are two types of aspirants – those who have gained a lot of experience in leadership position but want to go for top jobs like CEO, CTO, CFO, CIO, etc. Another set of people typically have worked at lower levels with close to zero experience in managerial responsibilities.
Executive MBA programs do not demand as much time and are less expensive when compared to with full time MBA programs. There are lesser opportunities for industry or international exposure compared with the full-time programs. Typically, there are no placement options since it’s meant for working professionals.
Students attend the classes in the evening after the job. Some institutes like IIMB offer a weekend course where students visit the campus only on week-ends. Students need to manage the job and the course at the same time.
Full time courses appeal to those who can take a break from their career and spend a substantial sum on course fees. These courses are more demanding and offer less flexibility. Needless to say, the students do gain a wide exposure.
Part time executive courses tend to be more appealing to professionals with strict schedule and limited resources in terms of time and money. These courses are cheaper than full time courses and offer a good opportunity for the students to acquire managerial knowledge and skills.