In today’s scenario, everyone wants to pursue a career in the MBA field. The business world is attractive for people who are not afraid to take big risks and assume authority. Whether you want to start a business or be a manager at a company, the degree of MBA is the best choice. Any MBA degree can expand students’ knowledge and sharpen their skills. Students also meet entrepreneurs and learn how to tackle different business situations.
In this article, we’ve elaborated on the various types of MBA that students can choose based on their budget, convenience, & availability.
What Are Different Types Of MBA Programmes
Choosing the best among the distinct types of MBA programmes available can make a big difference in saving the efforts and money of the students. Each university abroad has various MBA programmes, such as part-time, online, full-time, executive, and distance MBA courses. Some institutions offer only one type of MBA programme, whereas others provide both part-time and full-time options. The different types of MBA courses are listed below:
- Full-Time MBA
In a full-time MBA programme, students thoroughly understand business strategy and management. Most European universities offer a one-year full-time MBA programme compared to two years in the United States. Students in the United States prefer a two-year full-time MBA, while European students prefer a one-year full-time MBA. Nevertheless, some universities in the United States and Europe offer both options; the United States, however, prefers the two-year full-time MBA. New Zealand, France, Ireland, Australia, and Singapore are famous countries with two- and one-year programs. Enrolling in a one-year program is generally cheaper than a two-year one, which usually involves mandatory internships or training that add value to your resume.
- Executive MBA
Executive MBA is another MBA that comes under the types of MBA aiming to enhance professionals’ profiles. This MBA is aimed at teaching managerial and leadership qualities. Wharton Business School of the University of Pennsylvania provides this programme from their Philadelphia and San Francisco campuses.
Executive MBAs are for business superstars – prodigies, fast risers, and valuable executives who corporations want to keep on board. An Executive MBA can earn a full salary while pursuing an MBA, which is one of the main benefits. Some companies finance the programmes for their valuable employees.
- Part-time MBA
A part-time MBA programme is designed for students who wish to earn their MBA degree while simultaneously working. Part-time MBA programs allow candidates to study when not working rather than compromise their work schedules. In general, this means that the course will take longer to complete. For Example, FEMBA (Fully Employed MBA) is a part-time MBA program offered by UCLA and UC Berkeley. Two options are available: Fast-Track (2 1/2 years) and At-Your-Own-Pace (3 years).
- Dual MBA
Dual MBA programmes fall under the types of MBA made for candidates who want to earn an MBA degree with an additional specialisation in a master course in their field. In this degree, students can choose any major for their Master’s degree, which acts as a dual degree of MBA and MS or MA. Business schools such as Kellogg School of Management and Wharton Business School offer dual-MBA programs. For Example, Kellogg’s JD-MBA program offers leadership and management skills and legal expertise. The program takes three years to complete.
- Distance/Online MBA
In contrast to traditional MBA programs, distance MBA courses are designed for working professionals who cannot attend classes physically. There are many ways to study, including online classes, correspondence schools, webinars, lectures, video calls, or even teleconferencing. In addition to offering flexibility in course structure, these programs also allow you to attend classes at a time that suits you. The University of Strathclyde, Warwick Business School, Durham Business School, Aberdeen Business School, IE Business School, etc., all offer Online MBA programs.
Different Types Of MBA Specialisations
After determining which type of MBA programme aligns with your needs, you’ll need to explore the various specialisations available within the MBA. Information about the popular specialisation in MBA, including the highest paying specialisations, career options, skills required, annual salary packages, and top countries, has been given below.
- MBA in General Management
- MBA in Marketing/ Marketing Analytics
- MBA in Finance
- MBA in Entrepreneurship
- MBA in Strategy/ Strategic Management
- MBA in General Management
This MBA is the most popular choice for students as it teaches important skills like problem-solving and critical thinking. The courses taught to the students include strategy, professional development, marketing, project and quality management, business development and consulting practices. These courses take 1 or 2 years and improve the students’ managerial abilities, using which they can apply for various administrative job positions.
Skills Required | Excellent communication skills Effective leadership skills Problem-solving abilities Good subject matter expertise |
| Career Options | Marketing Human Resource Research & Business analyst Finance Operations |
| Top Countries | Australia US Canada UK Germany |
| Top Universities | Harvard Business School, USAStanford Graduate School of Business, USAINSEAD, France/SingaporeWharton School at the University of Pennsylvania, USALondon Business School, UK |
| Average Salary Offered (in INR) | INR 2 LPA to INR 24 LPA |
| Administrative Positions And Their Salaries | Business Development Manager- 72,100 USD/yearRisk Management Manager- 94,100 USD/ yearReal Estate Manager- 77,100 USD/ year |
- MBA in Marketing/Marketing Analytics
Marketing is an academic discipline that can help a student secure an administrative or managerial marketing position. Candidates who pursue an MBA degree in marketing can strengthen their marketing knowledge and skills during the duration of this course, which is 1 or 2 years. Students study subjects including branding, product development, digital marketing and marketing research, where they are made to understand consumer behaviour, market trend, product performance, computer analysis and market share. Marketing is the most popular MBA specialisation among all the other different types of MBA specialisations.
| Skills Required | Great communication skills Leadership qualities Technology expertise Strategic thinking Imaginative |
| Career Options | Asset Manager Brand Manager Corporate Communications Head Customer Relationship Management Channel Head |
| Top Countries | Australia Canada UK Ireland US |
| Top Colleges | Kellogg School of Management at Northwestern University, USAStanford Graduate School of Business, USAWharton School at the University of Pennsylvania, USAColumbia Business SchoolSaid Business School at the University of Oxford |
| Average Salary Offered (in INR) | Up to INR 20.43 LPA |
| Administrative Positions And Their Salaries | Marketing Manager- 64,850 USD/ year Director Of Sales- 90,950 USD/ year Market Research Director- 79,000 USD/year |
- MBA in Finance
MBA in Finance is another popular type of specialisation in MBA. Students with strong numerical skills who want to enter the finance industry, bank institutions, and asset management firms to pursue an MBA in finance. Corporate budgeting, fundraising, portfolio management, investments, etc., are some courses taught under this MBA.
Skills Required | Ability to lead Data analysis and interpretation Logical reasoning Innovative |
| Career Options | Cash Manager Credit Manager Corporate Controller Financial Analyst Investment Banking Associate |
| Top Countries | Italy US Canada UK Germany |
| Top Colleges | Rotman School of Management at the University of TorontoHKUST Business School, Hong KongThe University of Melbourne Business School, AustraliaLondon Business School, UK |
| Average Salary Offered (in INR) | INR 2 LPA to INR 14 LPA |
| Administrative Positions And Their Salaries | Financial Advisor- 58,000 USD/year Chief Financial Officer- 132,800 USD/ year Accounting Manager- 71,200 USD/ year |
- MBA in Entrepreneurship
Candidates who are perseverant, ambitious and can assume big responsibilities opt for an MBA in entrepreneurship. If you want to join your family business or if you are a corporate entrepreneur, you can pursue this course which will teach you subject matter related to business innovation, venture feasibility, resource management, product designing and marketing, innovation, negotiation, strategic partnerships, entrepreneurial marketing and venture implementation, etc.
| Skills Required | Innate assertiveness Good communication Negotiation skills Effective decision-making Ability to create business strategies |
| Career Options | Business Consultant Corporate Supervisor Department Manager Sales Manager New Venture Developer |
| Top Countries | USA Singapore UK Spain Germany |
| Top Colleges | Stanford Graduate School of Business, Stanford UniversityNUS Business School, National University of SingaporeSaïd Business School, University of OxfordIESE Business School, University of NavarraESMT Berlin, European School of Management and Technology |
| Average Salary Offered (in INR) | INR 5 LPA to INR 20 LPA |
| Administrative Positions And Their Salaries | Management Consultant- 87,200 USD/ year Chief Executive Officer- 156,900 USD/ year Senior Product Manager- 123,600 USD/ year |
- MBA in Strategy Management
The program is designed to attract individuals interested in spearheading dynamic companies’ growth and development. Candidates specialising in MBA Strategic Management will be equipped to assist companies in navigating complex deals and making calculated acquisitions.
| Skills Required | Expertise in statistics and mathematics Decision-making skills Fluency in communication Knowledge of financial structures Analytical abilities |
| Career Options | Senior Strategic Manager Operations Manager Senior Product Manager Investment Fund Manager Management Analyst |
| Top Countries | USA Germany UK Singapore France |
| Top Colleges | Harvard Business School, Harvard UniversityNanyang Business School, Nanyang Technological UniversityLondon Business School, University of LondonIE Business School, IE UniversityHEC Paris in Germany, HEC Paris |
| Average Salary Offered (in INR) | INR 5 LPA to INR 10 LPA |
Which MBA Specialisation Is The Best?
While it is difficult to determine which MBA specialisation is the best, it can be concluded that they all contribute to advancing business people’s careers and add value to them. Determining which type of MBA specialisation is right for you might be a good idea based on your needs and goals.
For a good start, here are the top Business schools that have been listed for MBA studies:
| Colleges | QS Global MBA Rankings |
| Hult International Business School, the UK | #28 |
| Northeastern University, the US | #131-140 |
| Maastricht University, the Netherlands | #145 |
| Robert Kennedy College, Switzerland | — |
| BI Norwegian Business School, Norway | — |
There are some online options that the students can consider:
- Nottingham Trent University Online, the UK
- The University of Birmingham Online, the UK
- Lebanese American University Online, Lebanon
- Tel Aviv University Online, Israel
Final Thoughts
A Master of Business Administration degree can give you the world of opportunities to advance your career in the business field. Multiple MBA specialisations are available, each with its own unique set of skills. From finance and marketing to healthcare and technology, there is an MBA specialisation for everyone. Choosing the right specialisation that matches your goals and interest can help you thrive in today’s rapidly transforming business landscape.
Thanks for reading this blog; If you want to read more such informative blogs; please check out the links below.
1 thought on “Top PGDM Courses In Canada: Universities, Specialisations & Eligibility”
I have done Bachelor’s in Culinary Arts from India and completed my graduation in the year 2022 .I am 22 years old. After graduation, I have done 1 year paid internship from USA .Now, I would like to take occupational experience and learn culinary skills and also do masters in Culinary arts.How can I find the college n best course / country where I can persue studying further