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Different Types of MBA Degrees You Could Choose From

What Are the Different Types of MBA Degrees

The MBA has maintained its place as the most popular graduate degree in the United States since 2010-2011. A master’s of business administration is so highly sought after because it prepares its graduates for a wide array of positions, including executive positions in business. But, did you know that there are different types of MBA degrees

Along with the types of MBA specialization, the different types of MBA serve their own purposes. Here, we’ll share the reasons to pursue an MBA, explore the types of MBA courses, and discover how you can even earn this prestigious degree entirely online. 

Let’s get into it! 

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Why Pursue an MBA?

It’s easy to see why the MBA degree is so popular in America, as well as around the world. In fact, 92% of employers across industries had plans to hire MBA graduates as of 2022. The demand for MBA graduates is on the rise! 

By enrolling in an MBA program, students are able to:

  • Learn new skills
  • Change careers 
  • Excel in current careers
  • Expand networks and connect with like-minded professionals 

Along with these amazing benefits, graduates with MBA degrees also increase their earning potential and stand to make more than graduates with an associate’s or bachelor’s degree. 

 

Types of MBA Degrees

If you’re thinking about taking on an MBA program, then it’s great to first review the different types of MBA degrees. This way, you’ll have the information you need to choose the type of program that best fits your career goals, current circumstances, and matches your expectations. 

Full-Time MBA 

A full-time MBA tends to take two years to complete. There are accelerated full-time programs that cut the timeline down and can take anywhere from 12-18 months to fulfill. In these programs, students start by learning the fundamentals of business and continue to build upon their knowledge by taking focused classes. Depending on the institution, some full-time programs help their students to jumpstart their careers by connecting them to internships, networking events, and professional organizations. 

Part-time MBA

For students looking for extra flexibility or having to maintain additional responsibilities, a part-time MBA could be a great option. Part-time MBAs can span anywhere from 2-5 years, depending on how many courses a student enrolls in. Part-time MBAs could be one of two types, namely:

  • Lock Step: It’s structured like a full-time MBA so students get to take their classes with a cohort
  • Self-Paced: Students get to take classes on their own time. They can either select an accelerated path or move more leisurely through the coursework. 

Online MBA

For students seeking the most flexible of options (and also the most cost-effective), let us introduce you to online MBAs! Online MBAs are, as the name implies, completed online. This means that students get to learn at their own pace and from wherever they want to be. Courses will either be recorded lectures or in real-time and live via video. Online programs tend to mimic full-time MBAs, but students have that added freedom of taking in the information as quickly or slowly as they need to. 

Global MBA

If you’re a high-capacity business professional, you can enroll in a global MBA, which grants you a worldwide perspective of work and leadership. 

Executive MBA (EMBA)

Executive MBAs are aimed towards professionals with a lot of experience who are seeking to advance their careers. 

Types of MBA Specialization

Regardless of what type of MBA program you choose to pursue, you have the opportunity to take part in an MBA specialization. This is for students who have a clear career goal and/or interest in a specific subject. 

With specialized MBAs, students will first complete general MBA education. Then, their studies will be centered around their topic of interest to best prepare them to enter the workforce. 

Here’s a look at some of the popular MBA specializations to consider: 

Finance

An MBA in Finance is intended for anyone with an interest in the finance industry. Coursework will cover topics like operations, strategy, accounting, marketing, and more. Upon graduation with an MBA in Finance, students can seek roles in investment banking, corporate finance, private equity, risk management, portfolio management, and financial planning, to name a few. 

Consulting

Many MBA students desire a career in consulting. For that, there is an MBA in consulting specialization that provides deep knowledge about strategy implementation, organization dynamics, and ways to maximize efficiency. 

Marketing

An MBA in marketing boosts a graduate’s career prospects for working in the marketing industry. Students will explore topics like consumer behavior, marketing management, and marketing strategy. Graduates can then enter roles like marketing manager, brand manager, or even chief marketing officer (CMO). 

Additional MBA specializations include healthcare management, operations management, and entrepreneurship. To dive more deeply into the types of MBA specialization options out there, be sure to check out this guide

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Earning Your MBA Online

As you were reading through the different types of MBA programs above, you may have stopped in your tracks when you learned that you can earn this highly touted degree entirely online. The great news is that you can also do so at an affordable price. The University of the People offers an online and accredited MBA program that is also tuition-free! This means that you can reap all the benefits of earning your degree without the exorbitant costs that tend to go along with it. 

To learn everything there is to know about our MBA program, visit our Master of Business Administration (MBA) dedicated page

 

To MBA or Not to MBA: The Answer is Within You 

With the many types of MBA degrees out there, there’s something for everyone. If you know you have a knack or interest in business and want to expand your career possibilities to the fullest, then you’d be a step in the right direction with an MBA degree. 

Whether you choose an online or in-person program, you can also determine your MBA specialization, should you feel inclined to. No matter where you earn your MBA, you should take pride in the major accomplishment of doing so.