Masters in Business Administration or MBA is a prestigious degree that enhances and expands your business, management and communication skills. An MBA abroad offers a wide array of choices in terms of programs and specialisations. For the optimum benefit of your MBA degree you must be aware of the different types of MBA to choose the best one.
In this blog we have discussed the various types of MBA programs, the usefulness of different MBA programs, MBA types specialisations, eligibility criteria and future prospects.
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Overview of Popular MBA Specialisations
Before moving on to the various types of MBA courses, let us familiarize yourself with the different types of MBA specialisations available across the globe:/
|
Specialisation |
Popular Job Profiles |
Average Annual Salary (in USD) |
|
MBA in General Management |
Business Development Manager Real Estate Manager Risk Management Manager |
60,000-80,000 |
|
MBA in Marketing |
Marketing Manager Market Research Director Director of Sales |
60,000-90,000 |
|
MBA in HR Management |
HR Manager Employee Relations Manager HR Director |
70,000 |
|
MBA in Entrepreneurship |
Management Consultant Senior Product Manager CEO |
80,000 |
|
MBA in Finance |
Financial Advisor Chief Financial Officer Accounting Manager |
80,000 |
|
MBA in Global Management |
Marketing Manager National Sales Manager Senior Business Analyst |
60,000-80,000 |
Suggested: 7 Top Demanding MBA Specialisations!
Why Study MBA Abroad?
All types of MBA courses equips students with skills to excel in careers in business, management or entrepreneurship. Before discussing the various types of MBA courses list, let us look at the perks of pursuing MBA abroad:
- Career Opportunities: The first and foremost motif of pursuing an MBA abroad for all students is to boost their career prospects. In today’s globalised and well-connected world, employers constantly today look for graduates having international experience and exposure.
- High Salary: Among all the other benefits of an MBA, job security and high salary allowances top the list. The jobs and salary after MBA abroad are twice as high than an employee with a regular master's degree. MBA graduates are highly in demand in the international job market.
- Broader Perspectives: Studying at the MBA colleges abroad allows you to experience a varied culture and be acquainted with people from all around the world. Such multicultural exposure enriches your academic knowledge and broadens your mind. You will gain new perspectives in terms of business and personality development.
- Varied Specialisations: The MBA universities abroad offer a diverse range of MBA specialisations on different aspects of the business world. Starting from Marketing, Business Analytics, Finance , Hotel Management to International Business, there are different specialisations for different types of MBA programs abroad.
- Extensive Business Network: Apart from the multicultural experience, an MBA abroad introduces you to like-minded students and professors. A large number of study-abroad students find job opportunities in global organisations because of the international exposure they get from their respective colleges, professors and peers. This enables them to build a solid network to progress their career in desired ways.
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What are the Different Types of MBA?
Now that we have discussed the benefits of studying MBA abroad, you are well aware of the importance and utility of an MBA degree in present times. But for the effectiveness of your degree, make sure to choose the best type of MBA. The popular types of MBA courses abroad is listed below:
- Full-Time MBA
- Part-Time/ Online MBA
- One Year MBA
- Dual MBA
Let us now discuss all the types of MBA degrees one by one:
Full-Time MBA
It is for the students who are willing to leave their job and dedicate their full time to the weekday classes and studying. Full-time MBA is the most popular amongst the other types of MBA programs abroad.
|
Course Duration |
2 years |
|
Mode of Study |
Full-Time On-Campus |
Part-time MBA
Another popular MBA types is the part-time MBA. It is for those who wish to enhance their career by acquiring managerial skills while still being employed. The classes are held either online or at the college premises during the weekends for these types of MBA programs.
|
Course Duration |
1 to 2 years |
|
Mode of Study |
Part-Time On-Campus/ Online |
|
Know More About Studying MBA Abroad |
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Executive MBA
Executive MBA is one of the most sought-after types of MBA degrees abroad. It is designed for experienced and working executives, managers, entrepreneurs, and other business leaders who which to upgrade their career prospects.
|
Course Duration |
1 to 2 years |
|
Mode of Study |
Full-Time/ Part-Time On-Campus/ Online |
One Year MBA
One year MBA is another popular types of MBA courses designed for professionals willing to enhance their knowledge and expertise. As the name suggests, this types of MBA stretches over a year.
|
Course Duration |
1 year |
|
Mode of Study |
Full-Time/ Part-Time On-Campus/ Online |
Suggested: Education Loan For MBA Abroad
Global MBA
Global MBA aims at providing international business experience to its students. The classes for such types of graduate business degree are conducted in different classroom environments, at times in different countries and cultures too.
|
Course Duration |
1 to 2 years |
|
Mode of Study |
Full-Time/ Part-Time On-Campus/ Online |
Highest paying MBA specializations in the world
So this was all about the MBA type list, let us now look at the eligibility criteria for MBA abroad:
Eligibility for Different Types of MBA
Although the exact set of eligibility criteria for different types of MBA vary for each program and university, the basic ones remain the same. Listed below are the requirements to pursue different types of MBA programs:
- A recognized bachelor’s degree with the desired GPA of minimum 2.5 (the scores vary across universities)
- GMAT or GRE score. The average GMAT score is 600 and above
- Minimum work experience of 2 to 5 years (if applicable)
- IELTS score of 6.5 and above, TOEFL(iBT) score of 80 and above for the top universities
- CV or Resume
- LOR or Letter of Recommendation
- SOP or Statement of Purpose
- A valid passport and student visa
Suggested: Drafting an SOP for MBA Abroad
Cost of Studying for Different Types of MBA Abroad
The MBA cost abroad depends on the country, university and type of MBA program you opt to study. On average, the cost of studying various types of MBA abroad ranges from $30,000 to $100,000. However, you must check the official university website for the exact information.
Apart from the tuition fees, you also have to bear your living expenses in that particular country. It is advisable to check for costs of the primary requirements like accommodation, food, transportation, health insurance, etc. to avoid any confusion later.
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Full-Time or Part-Time MBA?
There are many speculations about which type of MBA course is the best. Although there cannot be a solid answer for the same, we have prepared a comparison between both the types of MBA including their pros and cons:
|
Full-Time MBA |
Part-Time MBA |
|
2 years fixed course duration |
1 to 4 years course duration |
|
High tuition fees |
Low tuition fees |
|
More financial aids |
Less financial aids |
|
Less flexible |
More flexible |
|
Can take up part-time jobs for students |
Can work while studying |
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Job Opportunities after Pursuing Different Types of MBA
The career opportunities after pursuing various types of MBA abroad are quite vast. The proper knowledge and skills one can acquire while studying their respective MBA courses will help them in stepping into the world of competitive job market.
A list of some popular job profiles for MBA graduates with their average salary are:
|
Job Title |
Average Annual Salary |
|
IT Manager |
$57,000 - $92,000 |
|
Senior Financial Analyst |
$67,000 - $125,000 |
|
Financial Analyst |
$51,000 - $88,000 |
|
Business and Data Analyst |
$40,000 - $90,000 |
|
Human Resources Specialist |
$40,000 - $75,000 |
|
Systems Administrator |
$46,000 - $92,000 |
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The different types of MBA programs are targeted towards specific groups of aspirants. Hence you must do your research and choose the one that best suits your career goals. For more information, guidance and counselling get in touch with our counselors at Yocket now!
