MBA is a post-graduation course that gives one a great career option. Many people have the basic qualification, and an MBA adds a higher qualification to the resume that makes them more preferred over basic qualifications. MBA enhances the interpersonal and managerial skills that make the companies hire the ones with higher qualifications. 

MBA is usually a two-year’s extensive program that includes an internship too. Anyone can easily apply for the MBA course. There are different types of MBAs that one can pursue. The importance of all types of MBA courses is similar, and it is completely the applicant’s choice to choose any of them. 

In this article, you will learn different types of MBA and the benefits of doing an MBA. Apart from that, you will also know the different MBA programs offered by upGrad.

Benefits of MBA

Technology is growing at a very fast pace. Every other day, we hear about some new technologies that become necessary for professionals to grow in their careers. For example, Machine Learning and Artificial Intelligence are two such innovative technologies that every company is adapting. 

Therefore, it becomes the need of the hour to learn these skills. Online MBA programs are such courses that allow the professional to gain such new skills while doing their full-time job. These MBA programs help professionals in getting skilled and easily get switched to such new technologies. There are many benefits to doing an MBA:

• Learn the flexible skills applicable to wider industries
• Start your new company from scratch
• Improve communication skills
• Develop the professional network
• Improve the professional credibility

An MBA makes you a credible person at the company, Nurturing your career growth. Also, one can easily switch to new career options as most online MBA courses come with great career support.

Different Types of MBA

MBA is one of the sought-out degrees that helps a person in developing professional skills. Every year, many people apply for MBA. Below are the different types of MBA that one can opt for:

1. Full-Time MBA

A full-time MBA program offers a comprehensive educational experience designed to prepare individuals for leadership positions in various sectors of the business world. Lasting typically for two years, this intensive program delves deep into core business disciplines such as finance, accounting, marketing, and operations. Through a combination of lectures, case studies, group projects, and discussions, students gain a solid foundation in fundamental business concepts and theories. 

In addition to the core curriculum, full-time MBA programs often provide students with the flexibility to tailor their learning experience through elective courses. These courses allow students to delve into specific areas of interest or specialization that align with their career goals. Whether it’s entrepreneurship, international business, or corporate finance, students can choose courses that best suit their aspirations. 

Top MBA colleges that offer full-time MBA include IIM Ahmedabad, IIM Bangalore, IIM Calcutta, IIM Lucknow, and IIM Indore among others. The average salary ranges from ₹ 25-35 LPA per annum and can go up to ₹ 1CPA. 

Moreover, practical experiences are an integral part of the full-time MBA journey. Internships, consulting projects, and global immersions offer students the opportunity to apply their classroom learning to real-world business scenarios. These hands-on experiences not only reinforce theoretical concepts but also provide invaluable insights into industry practices and trends. Furthermore, they enable students to build a professional network and establish connections with industry leaders, paving the way for future career opportunities. 

2. Part-Time MBA

A Part-Time MBA program offers a flexible pathway for professionals aiming to elevate their business expertise while maintaining their career momentum. This format is particularly beneficial for individuals looking to balance work and education, enabling them to apply newly acquired skills directly to their professional roles. Among the various types of MBA programs, the Part-Time MBA is distinguished by its flexibility, designed to meet the demands of working professionals. It encompasses a comprehensive curriculum that mirrors that of full-time programs, covering essential business foundations and advanced management techniques.

Top institutions renowned for their Part-Time MBA programs include the Haas School of Business at the University of California, Berkeley, the Booth School of Business at the University of Chicago, and the Kellogg School of Management at Northwestern University.

3. Executive MBA

The Executive MBA (EMBA) offers a unique opportunity for seasoned professionals to advance their business acumen and career prospects while continuing to work in their current roles. Specifically designed for busy executives, EMBA programs are structured to accommodate their demanding schedules. Typically, these programs operate part-time, featuring intensive weekend or modular sessions supplemented by online learning modules. This flexible format enables participants to gain valuable knowledge and skills without compromising their professional commitments. 

One of the key advantages of EMBA programs is their emphasis on practical learning. Through case studies, group projects, and interactive discussions, participants can apply theoretical concepts to real-world business scenarios, gaining valuable insights and honing their problem-solving abilities. Additionally, the diverse backgrounds and experiences of EMBA classmates contribute to rich discussions and meaningful peer-to-peer learning. 

Top colleges that offer Executive MBA include XLRI Jamshedpur, IIM Indore, Narsee Monjee Institute of Management Studies (NMIMS), and Symbiosis Institute of Business Management among others. The average salary package is around ₹ 32.7 LPA whereas the highest Package is around ₹ 1.1 CPA. 

Furthermore, the flexible scheduling of EMBA programs allows participants to tailor their learning experience to their individual needs and interests. Whether focusing on a specific industry, functional area, or leadership skill, EMBA participants can customize their curriculum to align with their career goals. 

4. Correspondence MBA

This is the type of MBA in which students do not need to attend any classroom session. The syllabus and course material are provided to the students at the start of the course, and students need to take the exams at the end. That is a good option for those who want to pursue an MBA but cannot afford the course.

5. Online MBA

This type of MBA has become popular in recent times. The students are provided with online study material with lectures as video recordings. There is a one-to-one mentor allocated to the students where students can resolve the queries and doubts.

One can opt for any of these MBA courses as per their requirements. The online course is becoming popular these days as students get everything online and students can complete a course from anywhere. 

It is best for the working professional who can continue with their job. upGrad offers many executive MBA courses in future-oriented fields that students can attend online. The duration of an MBA from upGrad is two years. 

Below are some of the MBA courses that you can complete at upGrad and take your career to the next level: 

How to Choose an MBA program for you?

Selecting the ideal MBA program from the various types of MBA courses is a pivotal decision that profoundly impacts your professional journey. Amidst a plethora of options, the quest for the “best” program transcends universal rankings, instead focusing on aligning personal objectives with program features. Here’s a strategic roadmap to navigate your selection process: 

• Career Vision: Pinpoint specific industries, leadership roles, or entrepreneurial endeavors that resonate with your aspirations.  
• Skill Enhancement: Identify areas for growth, such as finance, marketing, or strategic acumen, and seek programs offering tailored courses or concentrations. 
• Program Diversity: Look at how many types of MBA programs exist. Explore diverse program formats – full-time, part-time, executive, or online – tailored to your lifestyle and commitments.  
• Institution Reputation: Assess the credibility of institutions, considering rankings, accreditations, curriculum depth, faculty expertise, and career services.  
• Campus Atmosphere: Delve into the cultural fabric of each program’s campus environment, ensuring alignment with your learning preferences and values. 
• Specialized Offerings: Prioritize programs with concentrations or specializations that complement your career trajectory.  
• Faculty Credentials: Evaluate faculty expertise and industry connections to ensure alignment with your professional goals.  
• Financial Viability: Explore scholarship opportunities, evaluate overall program costs, and assess potential return on investment. 
• Admissions Engagement: Attend information sessions, interact with program representatives, and network with current students to gain firsthand insights.  
• Alumni Engagement: Seek guidance from successful alumni of target programs to gain valuable perspectives and insights.  
• Interview Preparation: Enhance communication skills and refine interview techniques through mock interviews and practice sessions. 

By exploring the different types of MBA specialization, you’ll be equipped to make an informed decision. By doing so, you will find the right MBA program that best aligns with your aspirations, setting the stage for a successful career trajectory. 

Different Specialization in MBA from upGrad

1. MBA (Global) Deakin Business School

This is the program that helps to enhance decision-making and improve communication skills. This program can improve your career as a manager or a leader in the field you are working in. The program offers a certificate from Deakin Business School, which comes under the top 1% of business schools across the world. 

The program can fulfil your dream to work abroad as the program is recognized by the World Education Services (WES). Get the chance to interact with students from across the world.

You can opt for this program if you are an experienced manager, a business owner, a Senior Management Executive, and in the middle of your career. 

You can opt for this program if you want to enhance your managerial or leadership skills and grow in your career.

Eligibility for the Program

• Bachelor’s degree in any discipline with at least 50% of the marks and a minimum of 3 years experience.

Skills you Will Learn

As part of this MBA program, you will get the below skills

• Financing Strategies
• Design Thinking
• Business Growth Strategies
• Integrated Business Strategy Formulation
• Leadership
• Change Management
• Strategic Thinking and Planning Abilities
• International Business
• Developing High Performing Organizations

2. MBA in Digital Finance and Banking

This program offers the degree from OP Jindal Global University, which is recognized both nationally and internationally as ‘Institute of Eminence.’ This is a future-oriented program in the finance domain, best for those who want to kick start their career and make job-ready. 

As an alumnus from Jindal Global University, you can get yourself engaged in the world of academia. Apart from that, get career support from upGrad by participating in mock interviews and different job fairs. You should opt for this program if you want to make yourself ready for future-oriented jobs.

Eligibility For the Program

• Bachelor’s degree in engineering / science / commerce / administration / mathematics with 50% marks.
• Qualified JMAT, which is a national level exam

Skills you Will Learn

As part of this MBA program, you will get the below skills:

• Artificial Intelligence
• Fintech Ecosystem
• Finance Data Visualization
• Design Thinking
• Financial Management & Valuation
• Blockchain & Cryptocurrency
• Digital Fraud
• Risk Analysis

3. MBA (Global) with Specialization in Product Management

This is an online MBA program that offers a dual degree from Duke University and Deakin University. The duration of the program is 21 months that constitute 10-12 hrs per week. Get 360-degree support in your career. 

If you are looking for an MBA course in product management, then opt for this course. After completing this program, you will get jobs in HR management, finance, management consulting, business development, strategy, and operations.

Eligibility for this Program

• Bachelors with at least 50% marks 
• Minimum experience of 3 years in people management, project management, financial management, and similar fields

Skills you will Learn

• User Design
• Market Research
• Business Growth Strategies
• Strategic Thinking
• Leadership
• Design Thinking
• Strategies for Business Growth
• Product Development
• Growth and Engagement

4. MBA with Specialization in Digital Marketing

This MBA program is an online program that provides the certificate from Deakin Business School upon completing the course. There is expert and experienced faculty for this MBA in Digital Marketing. With the increase in jobs in Digital Marketing, the demand for this course has also increased. 

You will get complete career support after this course to get placed in an inappropriate role. Along with the learning, you will get the one to one mentorship with industry leaders. You should opt for this program if you are looking for an MBA in Digital Marketing.

Eligibility for this Program

• Bachelor’s degree with at least 50% marks and a minimum of 3 years of work experience in project management, financial management, planning. People management, sales, leadership, and operations.

Skills you will Learn

• SEM
• SEO
• Content Marketing
• Social Media
• Strategic Thinking
• Marketing Analytics
• Branding
• Planning Abilities
• Design Thinking
• Business Strategy

5. Master of Business Administration

This is a UGC recognized program offered by upGrad in collaboration with Chandigarh University. The duration of the program is two years, with 30 hours per week. The program offers the experience at ground level to get an understanding of different management strategies in business. 

You can choose either Business Analytics, Digital Marketing, or Logistics & Supply Chain. The program also includes a six months internship. Along with the program, the students also get guidance with the preparation of competitive examinations and placements. Anyone interested in marketing, finance, international business, and HR can opt for this program.

Eligibility for this Program

• Anyone who graduated in BBA, BCom, or BA from a recognized university

Skills you will Learn:

• HRM
• Strategic Management
• Business Research Methods
• Entrepreneurship Development
• International HRM
• Finance & Marketing Management
• Strategic and cross-cultural HRM

upGrad your Life with an MBA 

MBA is a great option for those who want to make a bright career with a high pay scale. There are different types of MBA courses that one can choose from according to their requirements and budget. If you are a fresher and just completed your graduation, you can go for the full-time MBA course. 

Online and executive types of MBA courses are mainly for the working professional looking to enhance their skills and grow in their career. MBA is a great choice for professional development irrespective of the type of MBA course you opt for.

Conclusion

The different types of MBA courses available today offer unparalleled flexibility and specialization for aspiring business leaders. Whether you’re looking to accelerate your career, pivot to a new industry, or deepen your expertise in a particular business area, there’s an MBA program tailored to meet your objectives. From full-time, part-time, executive, to online MBA options, the variety ensures that education adapts to your life, not the other way around. Specializations, especially those offered by upGrad, allow you to fine-tune your skills in specific sectors, making you a valuable asset in the competitive business landscape. Embracing an MBA is more than just an academic pursuit; it’s a transformative journey that equips you with the knowledge, skills, and network to excel. As we’ve explored, the choice of the right type and specialization of an MBA can significantly upGrad your life, opening doors to new opportunities and empowering you to make a substantial impact in the business world.

If you are keen on upgrading your career with an Executive MBA course, upGrad is offering MBA from Liverpool Business School.