There are a number of different types of MBA programs and one that is becoming increasingly popular is the Accelerated MBA program. If you are comparing different programs formats and designs, it is important to take a close look at each to see which will offer you the best chances of accomplishing your goals. A Master of Business Administration is typically designed for professionals who want to expand their knowledge and develop business acumen while they become more capable leaders. Read on, and find out more about how these programs are structured and how they differ from the generic MBA program.
How is an Accelerated Program Structured?
The traditional Master of Business Administration takes about two years to complete when you are enrolled to attend school full time. If you are enrolled part time, you can expect to spend anywhere from three to five years completing business school. As the name would suggest, accelerated programs can be completed much faster than traditional programs. Instead of spending two years with a full-time class schedule, students will spend between 12 and 15 months completing the advanced business coursework depending on the school.
The business school is able to shorten the duration of the program by requiring much of the lessons to be covered as homework and by setting an intensive pace. While accelerated programs are rather young in the United States, European business programs have been given in this short format for quite some time and 10 month programs are actually the norm overseas, according to the Wall Street Journal.
What Are the Benefits of Taking an Accelerated Program?
There are both advantages and disadvantages to studying for your MBA at an accelerated pace. You will need to consider each before you apply to or enroll in this type of intense program. If your goal is to re-enter the workforce as quickly as possible, accelerated programs make this possible. It can also be said that you can land that promotion more quickly if you study for 12 months.
Depending on the school, you can save money on tuition while still earning the same type of advanced degree. If you plan on leaving the workforce to study, you will miss out on only half of the income by accelerating your degree path. With this being said, the fast pace is not for everyone. If you cannot keep up with the format, you risk failing courses and failing to grasp concepts that you will need to understand to be a well-rounded business professional.
Do You Need an MBA?
In today’s business environment, there is a huge supply of MBA graduates who are actively looking for positions. While it does cost a hefty fee to study for a business degree, if you are competing against a large population of grads you need to even the playing field. While the MBA is not a prerequisite for success, it can push you in the marketplace and help you achieve a higher salary. If your goal is to be a leader or to change careers without going back for a four-year degree, your MBA will be valuable.
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It is important to compare accelerated programs and choose one with a great reputation. Check class sizes, method of instruction delivery, professor qualifications and more. Once you have compared each Accelerated MBA, be sure that you have a realistic expectation and dedicate your time to your studies.