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How Long Does It Take To Get An MBA?
In the field of business, as well as so many other fields and industries in the world, having a master's in business administration (MBA) degree is of great benefit, not just to you, but to your own business or the organization in which you work as well. Not only is this degree greatly sought after by the greater population, but it is also greatly sought after by employers by seeking employees who have this degree behind their name.
Having an MBA opens up many opportunities and is an extremely versatile degree to have. Not only does it have a place in several industries and divisions of a business, but it also has its place if you decide to start up your own business or organization.
There are a variety of different MBA degrees that you could pursue, and each takes a different amount of time to complete. Generally, after pursuing a bachelor's degree, an MBA takes around two years to complete.
Let us look at the different types of MBA courses that exist and how long it would take to complete each type of MBA degree.
Different Types And Durations Of MBA Degrees
The first type of MBA degree that exists is a full-time MBA that takes around two years to complete. This degree is completed full-time through traditional completion meaning that you would need to attend courses and lectures, you would need to finish coursework and assignments, and you would need to write exams.
The second type of degree is a part-time MBA degree which takes between three and five years to complete. Now, while this may seem like a long time, it is important to consider that this course will mostly be completed during evening and weekend classes. You will still be required to complete coursework and exams but during specific times.
The third type of MBA is an accelerated MBA which takes a year to complete. This program is generally full-time that has all the coursework condensed into one year making it more intense but quite effective if it is a prerequisite for any other type of program that someone is hoping to enroll for.
An executive MBA is much like a part-time MBA, but this degree is reserved for professionals or individuals who already hold executive-level roles and who are working full-time and seeking to expand their qualifications. It takes around two years to complete and comprises night classes and weekend classes.
A global MBA is a full-time program that takes two years to complete, and while it is similar to a full-time MBA program, it focuses on international business practices.
Lastly, there is a dual MBA which, much like a double major, allows you to complete MBA coursework along with another graduate program and it can take from two years upwards to complete.
Is A Shorter MBA Course As Effective As A Longer MBA Course?
By title, an MBA degree holds the same importance whether it was obtained in a shorter period or a longer period of time. With that said, the time it would take you to complete a degree is dependent on the other commitments you have in life.
However, longer and shorter courses cover the same content and coursework, and it teaches the same concepts and skills. Therefore, the time it takes to complete a course does not affect the worth or the value of the course.
What Are The Requirements To Pursue An MBA?
To complete or qualify for an MBA program, you need to have at the very least a bachelor's degree in business management or business administration, or you would need to have a postgraduate diploma in a field of study that is outside of business studies.
You would also need to be over the age of 25 years old and you would need to have at least three years of relevant work experience.
What Skills Will You Learn From An MBA?
An MBA will teach you how to become an effective and successful leader. You will develop effective leadership skills, strategy development, and implementation skills, you will learn how to be more analytical when you approach business processes, and you will learn much more.
Not only will you learn these skills, but you will also learn technical skills such as accounting and finance principles, you will learn how to devise, develop, and execute marketing campaigns, and you will learn concepts pertaining to economics on the local and global front. You will also cover courses on business ethics, law, and policy.
Lastly, you will also acquire some soft skills that can be immediately beneficial to you such as communication, team leadership, and much more.
Is An MBA Worth It?
With great earning potential and with substantial career growth, it provides you with a great return on investment. This means that the time and money that you invest into an MBA make it extremely worthwhile.
Is An Online MBA As Effective And Useful As A Traditional MBA?
Given that the world is becoming increasingly digital, MBA courses and programs are more attainable through online programs. These online programs are as effective and as accredited as traditional programs. Also, the chances of employers looking at the method through which you obtained your MBA is unlikely to be of importance. Instead, they will focus on confirming the institution and the authenticity of your MBA.
What Is The Earning Potential Of Someone Who Has An MBA Degree?
According to the U.S. Bureau of Labor Statistics (BLS), top executives who hold an MBA can expect to earn a median annual salary of $98,980, and these particular roles in the industry expect to see a projected 6% growth over the next decade.
If you have wondered which MBA program is best for you and if you would be compromising your qualification if you opted to pursue a shorter or online program, it is safe to know that you could pursue any program and still walk away with effective knowledge, the skills you need, and the know-how to successfully wield your MBA degree in your career.
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