If you want to start or advance a career in management, a Master of Business Administration (MBA) can give you just the boost you need. But do you really have the time to earn one? Thanks to two new types of online MBA programs, you likely do.
Both a competency-based MBA program and a fast-track course-based MBA program can help you earn a master’s of business administration in less time than it takes to earn an MBA through a traditional program. And since both are available at universities offering online learning, you can earn either from home and on a flexible schedule that lets you choose when in the day you focus on your coursework. For working professionals looking to earn an advanced business degree, either program can make it possible to balance full-time work with education and family. However, to get the most benefit, you need to choose the program that’s right for you. And that begins by understanding how the two programs differ.
The primary difference between these two types of business administration master’s programs is in the way you learn and earn credits.
In a competency-based degree program, you won’t enroll in predetermined courses that require a set amount of time to complete. Rather, you will master specific business administration degree skills (called competencies) at whatever pace works best for you. While there are no classes, you will have access to learning resources provided by faculty and can also draw on your existing base of knowledge. As soon as you feel you’ve mastered a competency, you can take an assessment. Once you’ve proven proficiency in all the competencies, you’ll earn your MBA degree.
A fast-track course-based degree program operates like a traditional degree program. The difference is, a fast-track course-based program lets you double up on your courses, giving you the ability to complete the degree requirements faster. In the top MBA programs offering a fast-track course-based option, you can take two courses every eight weeks, which will typically require 30-35 weekly hours of your time. Once you’ve completed and passed all the required courses, you earn your MBA degree.
A traditional MBA degree program takes an average of two years to complete, but both the competency-based and fast-track course-based programs can take significantly less time. Because competency-based programs are self-guided and allow you to take assessments as soon as you want, you can earn an MBA through a competency-based program in as little as six months. Fast-track course-based programs, on the other hand, are more structured and are designed to take 12 months to complete. However, for both programs, finishing your degree quickly requires you to stay focused, which is why it’s important to choose the program that’s right for your needs and personality.
A competency-based MBA is likely best if you:
A fast-track course-based MBA is likely best if you:
In short, a competency-based program is likely better if you can stay on task without a set schedule, while a fast-track course-based program is likely best if you can work fast but do better in a structured environment.
However, since both are available through online education, both are compatible with full-time work. That’s because regardless of what type of online MBA you choose, you can handle your educational commitments at whatever times of day you aren’t working. Plus, earning an MBA online means never having to drive anywhere for class, which can make earning a degree more convenient. If you want to start or advance a career as a business manager, an online MBA can be the perfect choice, whether you choose a competency-based or a fast-track course-based program.
Walden University is an accredited institution offering fast-track course-based Master of Business Administration and competency-based Master of Business Administration degree programs online. Expand your career options and earn your degree in a convenient, flexible format that fits your busy life.
Walden University is accredited by The Higher Learning Commission, www.hlcommission.org.