The type of MBA is basically meant by the mode or nature of the MBA program, depending on how the course will be pursued. it refers to the medium and time period of the program, and based on that the quality and relevance, and value of the program and the degree is determined. Various MBA courses being offered currently falls under the following 7 types, some may overlap as per their nature.
There are various MBA Programs available in different specializations, you can check here, a complete list of MBA Courses you can do after graduation.
Different Types of MBA courses
There are mainly 7 different types of MBA courses, as listed below. And all the MBA courses offered currently by many B-Schools in India and abroad can be done in one of the following ways.
| Type of MBA | Minimum Qualification (Eligibility) | Duration (Years) | Average Fees (INR) |
|---|---|---|---|
| 2-Years Full Time MBA | Graduation | 2 Years | 6 lakhs to 20 lakhs (May go upto 40 lakhs for reputed institutes) |
| 1-Year Full Time MBA | Graduation with 3+ years of work experience | 1 Year | 2 lakhs to 12 lakhs (May go upto 30 lakhs for reputed institutes) |
| MBA through Distance Education | Graduation | 2-4 Years | 2 lakhs to 12 lakhs (May go upto 20 lakhs for reputed institutes) |
| Online MBA Program | Graduation | 2 Years | 1.75 lakhs to 8 lakhs (May go upto 20 lakhs for reputed institutes) |
| Executive MBA Program | Graduation with 3+ years of work experience | 1-2 Years | 4 lakhs to 25 lakhs (May go upto 40 lakhs for reputed institutes) |
| MBA Integrated Course | 10+2 (HSC) | 5 Years | 1 Lakh per year to 20+ lakhs total course fee (May go upto 40 lakhs for reputed institutes) |
2-Years Full Time MBA
2 Years Full Time MBA program is a regular MBA main course residential program. It includes physical classes, live institutional lectures, Live projects and assignments with case studies, semester-wise study patterns and syllabus, Exams and assessment, Internships within industrial or corporate premises and final campus placements. This is the most sought after types of MBA courses that is preferred and valued by many employers and companies. And so the remuneration and perks are also best in this type of MBA programs.
1-Year Full Time MBA
In this, the complete MBA program is precisely tailored to complete in 1 year. This is mainly for working professionals who have 3+ Years of work experience. So, any professional can complete this course with a break of 1 year, and this really adds value to their career. There are many misconceptions regarding 1 Year Full Time MBA programs, as people believe this as non suitable or cheap than 2 Year MBA Course. We will soon bring a comparison for both these MBA programs, you will be really shocked to see the revealings and misconceptions about 1-Year Full Time MBA programs
MBA through Distance Education
These courses are suitable for those who cannot shift to any other city or location because of their current jobs or commitments. Whether they are doing any job or any vocational training or any other family reasons, if a person cannot travel and stay near the institute, they can join their Distance education programs. Seeing the benefits and attractiveness of such programs, many other institutes have come up with their reasonable options of Distance education Programs.
Many people have started pursuing Distance learning programs, as it has got its own advantages. Even reputed institutes have started offering Distance learning MBA programs. However, such degrees cannot be compared with 2-Year Full Time Residential programs as it lacks personal interaction and exchange of ideas and interactions among students and teachers/lecturers. Also, the genuineness, thought process, dedication and transparency cannot be attained in distance education programs.
Online MBA Program
Distance education when done completely online, it is called to be Online program. But, there are many Management Schools and Institutes which are now providing online programs in various fields and specializations. These specialized MBA programs are more relevant and sought after by the companies who are looking for experts in their fields. It incurs tuition fees and examination fees only, and most of the costs cut down to a minimum. So, if there’s any MBA program that you can pursue online you can think of it as it is a low cost alternative, that will boost your career.
Executive MBA Program
This type of MBA programs are only for working professionals. You must have 3+ Years of work experience and this type of MBA programs can be done through Weekend Classes or Online/Distance learning programs. So, you may not have to leave your current job. Many corporate and Multi-National Companies, tie up with institutes and offer such Executive MBA programs to their employees without any fees, just for grooming of their employees.
MBA Integrated Course
This Integrated MBA program offers students after 12th, to join 5 Year MBA integrated course where the candidates are prepared for managerial jobs and responsibilities right after Class 12th. This is a combined Undergraduate plus Post graduate 5 Year program. the benefits of pursuing this after 12th is that there will be no repetition of subjects and you can concentrate on more subjects from 3rd year itself. While if you do BBA and then MBA, you will have to repeat core management subjects.
There are IITs and other institutes which provides B-Tech +MBA Dual programs. Similarly there are IIMs which provides BBA+MBA Dual programs.
Summary
Out of the above types of MBA courses, one must suit your availability, financial requirements, career goals and salary expectations. All types of MBA are not equivalent to each other, they vary in their form of teachings, study materials, syllabus, and acceptability by different employers. Also, the same MBA program may have different value when it is done from different institutes or from different types, like Online or Distance program.
Similarly, the fees and toughness and entrance tests, require lots of hard work and study, to make it in the list. Most of the reputed institutes has got their own way of selection and aptitude test for giving admissions to eligible students. Later on face to face Interviews and many other competitive levels also makes the selection process more tough.
