“May your choices reflect your hopes, not your fears.” – Nelson Mandela
An MBA helps you advance in your career with the right skill set. However, choosing the right kind of MBA for yourself can be tricky as it comes with many options. There are options like an online MBA, an executive MBA, or a simple full-time MBA. In this blog, we will talk about online and executive MBA and help you make the right choice for growth in your professional journey.
Key features of an Online MBA
1. Programme Duration: Before pursuing an online MBA it is important to check the duration of the programme. Generally, they are designed to be completed within 2 years.
2. Course Cost: Typically an online MBA is more affordable in comparison to a regular MBA or an executive MBA.
3. Flexibility: Online education is known to provide flexibility to the one pursuing it. It gives the privilege of learning and growing at your own pace without overlooking other priorities.
4. Networking: In the business world it is crucial to build an effective network and an MBA is a great opportunity to connect and form links with peers, alumni, and the faculty. Although an online MBA may not offer the same perks of real-time in-person interaction it provides you with the opportunity to make connections that will help you in your professional life.
Key Features of an Executive MBA
1. Programme Duration: The duration of an executive MBA is typically from 12 to 24 months. This duration is dependent on two factors, the structure of the curriculum and the institute offering the course.
2. Networking: Executive MBA offers an excellent opportunity for students to learn alongside amazing experts. As this course only caters to experienced professionals only you get the opportunity to build an extensive network.
3. Curriculum: The syllabus of this course depends on the specialisation that you will choose. But one key factor one needs to remember is that the curriculum is built in such a way that experienced professionals can advance their skills and knowledge. It is a fast-paced course
4. Eligibility Criteria: Individuals looking to pursue an executive MBA must have an experience of 2-3 years along with valid scores in GMAT, GRE, XAT, CAT, and CMAT. However, the eligibility criteria depend on the institution as some don’t conduct any kind of entrance exams.
How do you choose the right path for you?
Every individual is driven by their own unique goals. Choosing the right path will enable you to achieve those dreams. These pointers will help you move forward and choose the right variation of MBA for you.
Career Stage
Someone who is just beginning their career or has just graduated must opt for an online MBA. An executive MBA has a prerequisite and requires the individual to have a minimum experience of 2-3 years.
Professional Goal
Online MBA can equip the individual with the right skills and prospects to advance in an early career whereas an executive MBA is the right choice for someone who aims to grow their career towards executive roles. Before making a decision it is critical to assess yourself and prioritise the course accordingly.
Flexibility
For someone who wants complete control of their learning, the right choice for them would be an online MBA. But if you look forward to connecting with people and at the same time balancing your career then an executive MBA is the right choice, as these classes mostly take place on weekends to accommodate the work schedules of professionals. An easier way to decide this would be the amount of time one can dedicate towards the course.
Cost
Cost is an important factor that comes into play when deciding on the right path. It is crucial to assess the cost of both these courses. However, one also needs to evaluate one's financial situation and choose the right financial aid for their education. Online MBAs are affordable in comparison to executive MBAs. An important factor while deciding this is also the return on investment one can expect from these courses.
Conclusion
Choosing the right path for you can be a tricky journey but don’t forget that no beautiful journey is easy. An online MBA and an executive MBA are both excellent choices depending on the career stage and personal and professional goals of an individual. Both these options offer great opportunity and growth. Consider and evaluate every aspect before making a final decision. Choose the path that suits you best and commit to it with your best efforts.
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