MBA Programs vs Executive MBA Programs

MBA Programs vs Executive MBA Programs. What's the Difference?

MBA Programs and Executive MBA Programs sometimes have a similar curriculum, but the class format and admission requirements vary.

Typically, the applicants to an Executive MBA Program must have a minimum of five years professional work experience. Executive MBA Programs are designed to meet the needs of upper level managers. Candidates are often evaluated based on what they will bring to the program. In most cases, taking the GMAT is not required.

MBA Program applicants are not required to have professional work experience, but they must take the GMAT. An MBA degree is essentially a general management degree.

Class format also differs between the two programs. In an MBA Program, students usually choose the classes they will take each quarter. In an Executive MBA program, students often complete classes in a step-lock method, attending courses with the same classmates for the duration of the program.

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Should I Get an MBA Degree Online?

If you have been thinking about getting your MBA degree online, you are not alone. The distance learning MBA has become a popular option for business professionals who do not have the time or desire to sit in a classroom for hours at a time. More than one in four higher education students now take at least one course online.

Types of Online MBA Degree Programs

There are two basic types of online MBA degree programs:

• All-Online Programs - These MBA programs make 100% of course materials available online. Students who are enrolled in an all-online program are never required to attend a campus-based classroom


• Combination Programs - These MBA programs combine distance learning with classroom learning. Some courses can be taken online; others must be completed on campus.

Most Popular Online MBA Degree Programs

Some of the most popular online MBA degree programs (based on the number of students who enroll each year) include the University of Phoenix online MBA program, the Edinburgh Business School online MBA program, and the U21 Global online MBA program.

Pros and Cons of Getting an MBA Degree Online

There are many pros and cons of getting a degree online. Pros include convenience, flexibility, and cost. Online MBA degree programs allow you to study at any time from anywhere. Costs can also be easier to handle because there is no need to commute or quit your job. Cons include the stigma and a lack of face-to-face networking opportunities. Although most employers are accepting of online degrees, there are some who prefer employees who were educated in a campus-based program.

Is It Hard to Get Accepted to an Online MBA Degree Program?

The answer to this question can vary depending on the school you apply to. Some schools, such as the University of Phoenix, have an inclusive approach which means that nearly everyone who applies can get accepted. Other schools, such as Warwick or Columbia Business School, maintain the same rigorous acceptance standards for all of their MBA programs--whether they are online or campus-based.

How Much Does an Online MBA Degree Program Cost?

The cost of online MBA degree programs can also vary wildly depending on the program you enroll in. Tuition and fees can range from as little as $3,000 per year to as much as $30,000 per year or more. A higher price tag does not always equal a better education--some schools simply charge more than others. The key is to find an online MBA degree program that is accredited so that you are eligible for scholarships, low-interest student loans, and other types of financial aid. You may also be able to receive tuition reimbursement from your employer to offset costs of both online and on-campus programs.

Karen Schweitzer

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Part-Time MBA Programs

Part-time MBA programs, also known as flex programs, were specifically designed for the working professional. Classes are almost always scheduled in the evening, because most part-time MBA students work during the day.

Finding Part-Time MBA Programs

There are many different business schools that offer part-time MBA programs. The quality of these programs vary; be sure to take time to research multiple programs to find the one that best suits your learning style and career goals. It is also important to find a program that is accredited. This ensures a quality education and a degree that will be valued by potential employers. See a list of the best part-time MBA programs in the U.S.

Duration of Part-Time MBA Programs

Part-time MBA programs usually take two to three years to complete, but may take up to five. Some part-time programs require fewer courses than full-time programs, while others require the same number. There are even a couple of business schools that offer accelerated part-time MBA programs, which allow you to earn your degree in a shorter amount of time.

Pros of Part-Time MBA Programs

Part-time MBA programs are wonderful for the student who needs to work. Because classes are scheduled outside of normal business hours, it is possible to achieve an education or further your career while you work full-time. And, if your employer offers tuition reimbursement, you can get your MBA for free.

Cons of Part-Time MBA Programs

Not all schools offer part-time MBA programs. You may be required to attend a school that is not your first choice. Also, if you plan to transfer to a full-time program at a later date, your credits may not be transferable. Read more about the pros and cons of part-time MBA programs.

Applying to Part-Time MBA Programs

Admission requirements for part-time MBA programs are very similar to the requirements seen in full-time programs. You will almost always need to fill out an application and submit undergraduate transcripts. You may also be asked to submit GMAT or GRE scores, essays, recommendation letters, a resume, and a personal statement. Some schools may also require an admissions interview.

Gaining acceptance to a part-time MBA program varies in difficulty depending upon the business school that you choose. Some school will accept nearly everyone who applies; while others limit admission to a select group of students who best meet the school's requirements. Read 5 tips for getting accepted to your MBA program of choice.

Paying for a Part-Time MBA Program

The cost of a part-time MBA program is similar to that of a full-time MBA program. In other words, tuition isn't cheap. You will have to be creative if you want to find ways to fund your education. The majority of students receive tuition assistance from an employer. If that isn't an option, you may be able to get scholarships or grants to cover part or all of your school fees. Another option to consider is peer-to-peer lending. This type of borrowing is often preferred by students who want to avoid high interest fees and strict credit checks.

If the above sources fail you, you can always apply for a low-interest loan from the government or a commercial bank that specializes in student lending. Of course, this type of lending could cost more in the long run. Try to borrow with caution and make sure that you are aware of your future financial obligations before signing on the dotted line.

Karen Schweitzer

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