The MBA is a “generalist” program that prepares you to assume positions of responsibility in companies.
The participants of an MBA acquire general knowledge of the different areas of a company and assume a global and strategic vision of it. At the same time, participants learn that in business management it is essential to have leadership skills, teamwork and conflict resolution.
The MBA, in its Full-Time modality, has existed for more than a century in the United States and began to spread in Europe in the 1950s. In its origins, very few had an MBA, so participants had guaranteed positions of responsibility and great salary increase.
Currently the MBA is very widespread and has lost some strength. On the one hand, the number of professionals who hold an MBA is increasing every day. On the other hand, there are many universities and business schools that have reduced the admission requirements. Consequently, the MBA is no longer a guarantee for professional success. Having said that, the MBA continues to open many doors at a professional level. Those who do a prestigious MBA can reach a salary of 100,000 euros in just three years, and a salary increase of 40% after completing the MBA. Those who decide to take a lesser-known MBA will also benefit from this program, as it will help them give a boost to their professional career.
There are several MBA models: Full-Time MBA, Part-Time MBA, Executive MBA, Specialist MBA, E-MBA, International MBA.
Full-Time MBA (full-time)
This is the most traditional MBA model. In the United States, the duration of this program is two years, while in Europe it is usually one year.
This program is aimed at young people with a higher university degree. In principle, participants must have at least 3 years of experience. However, there are many universities that do not require work experience.
Universities that offer prestigious MBAs are more rigorous with the admission requirements and ask for a certain grade on the GMAT (Graduate Management Admission Test). This test is done in English and measures the verbal, mathematical and analytical ability of the student.
Part-Time MBA (part-time)
The part-time MBA appeared in the early 90s. This program usually lasts two years in Europe and the workload is usually less than in a full-time MBA.
The part-time MBA is aimed at active professionals, usually young people. The main advantage of this MBA model is that participants do not have to give up their current salary and also the cost of the program is dispersed. Another advantage is that participants can explore real situations in their company in class.
The Executive MBA is a part-time program. The difference between this program and the one described above is the profile of the participants. To access the Executive MBA it is essential to have a solid work experience of more than 5 years and with at least 3 years in a position of responsibility. It is often the companies that finance this program to certain employees, so that they can assume positions of greater responsibility.
There is a series of MBAs focused on a specific specialty. The specialty may be for example Financial, Consulting, Commercial Management and Marketing, Environmental Management or Aerospace
These programs have aroused great controversy because the objective of an MBA should be to offer a global vision of the company. The specialization should not be acquired through an MBA but through another type of graduate.
This program is taught through the Internet and every day there are more professionals and executives who decide to carry out this type of program. The great attraction of the E-MBA is that the participant can perform the program at their own pace. That is, this MBA allows you to combine studies with work and personal life.
This program is usually taught in the English language and students from many different countries participate. The advantage of doing this type of program is that they acquire two very important skills in the current work world: the command of the English language and the knowledge of different cultures.
In my case, I opted for an international MBA in the United Kingdom. The advantage of studying in another country is that you adapt to the English language quickly. On the other hand, studying in another country is proof that you have a great capacity for adaptation.