Answer: In addition to traditional MBA programs, which students can graduate from in four semesters or two academic years of full-time enrollment, there are several MBA program format variations, including one-year MBA programs that allow students who have completed certain undergraduate requirements to graduate in 12 months of full-time, year-round enrollment. There are also part-time Professional MBA programs and abbreviated Executive MBA programs that are designed to accommodate those who are already working in the field.
Traditional MBA programs are essentially two-year, four-semester professional degree programs that introduces students to foundational business concepts and provide intermediate and advanced training in a range of skills and proficiencies that have applications across a broad cross-section of business fields. Students in these programs typically complete introductory coursework during the first year of study, including classes in accounting, business law, finance, marketing, logistics, and project management, as well as in organizational leadership and professional communication. The second year of these programs is dedicated to more advanced coursework in business management and administration, as well as to elective classes in areas like real estate development, capital investments, portfolio management, strategic marketing, entrepreneurship, and global business strategies. Students may also opt for a formal specialization during the second year of a two-year program, which generally entails taking two or more courses in that area of specialization.
There are several variations on the traditional MBA structure, which are designed to accommodate students who have already taken introductory business coursework, as well as students who may be working, and professionals who have several years of experience in the field of business administration. These variations include one-year MBA programs, Professional MBA programs, and Executive MBA programs.
One-Year MBA programs: Students who have completed an undergraduate business major, or who have taken college-level courses in economics and statistics may be eligible to apply to a one-year MBA program, which may be referred to as an “accelerated” MBA program. One-year MBA programs have a list of prerequisites that applicants must demonstrate they have completed. In addition to economics and statistics, these prerequisites may include introductory coursework in accounting, finance, and marketing, as well a calculus class. Students in these programs can graduate in twelve months if they are able to enroll full-time and take three-to-five courses over three or four consecutive semesters or terms.
Professional MBA programs: Professional MBA is the designation for an MBA program that offers a full curriculum of introductory, intermediate, and advanced business coursework in a format designed to accommodate students who are already working in a business field. These programs provide flexible, part-time enrollment options and often allow students to attend evening and weekend classes. The time to graduation for students in a Professional MBA programs depends on the number of classes they are able to complete per semester.
Executive MBA programs: Executive MBA programs are tailored to accommodate business professionals who have at least five years of experience in managerial and administrative positions. These programs do not admit students unless they meet this requirement, and they offer a curriculum that is customized to fit the advanced training needs of experience business professionals. As such, these programs omit much of the introductory coursework associated with a traditional MBA program and focus primarily on upper-level skills and knowledge in areas like leadership, decision-making, corporate finance, and strategic planning. While Executive MBA programs offer a reduced curriculum, they are usually part-time programs, which means students typically take a year or more to graduate.
Another area of variation in the format of MBA programs concerns the method of instruction. Campus-based programs are taught in traditional classroom settings on college and university campuses, which may require students to commute to classes and/or relocate to be close to the school. Online MBA programs offer all or most of their instruction online, utilizing distance education platforms that allow students to log on to view and access lectures and other course materials. Hybrid MBA programs offer a mix of online and campus-based instruction, which provides some flexibility but does require students to travel to a campus for some classes. While there is no formal definition that distinguishes online MBA programs from hybrid MBA programs, MBA programs that require more than two campus visits per year are classified as hybrid programs by OnlineEducation.com and not as online programs.