How Long Does It Take to Get an MBA?

The short answer is between one and three years on average, but that doesn’t give you the full picture. The answer depends in part on whether you chose a full or part-time program, as well as your undergraduate major. Traditional full-time MBA programs require a two year commitment under normal circumstances, but there are a host of new programs that have introduced flexible schedules to accommodate students’ demanding lives. As a general rule, most graduate programs require that they be completed within five years of starting.

Here is a quick review of some of the major types of MBA programs on the market with an emphasis on how long each one takes to complete.

1. Accelerated MBA Programs — 1+ Years

Qualified candidates can often complete an accelerated MBA program in one to two years. In recent years, many of the nation’s top-ranked business schools have supplemented their MBA offerings to include an accelerated option. However, not everyone qualifies, and even those who do may not find it the most useful way to gain the skills that are vital for business success.

The qualifications to enter an accelerated program vary across programs. Typically, applicants need to demonstrate a basic understanding in statistics, finance and accounting, and many also require a minimum amount of work experience. Accelerated programs require fewer credits so you will likely save on tuition and fees. One popular version of the accelerated option is the 4+1 program that allows undergraduate business majors to continue their education for another year and graduate with both a bachelor’s and master’s degree in five years. Part-time accelerated programs appeal to students who plan to continue working so there is no loss of income.

Earning a degree in less time is attractive but it does require some concessions. Accelerated programs move so quickly that they leave less time for elective courses and networking. The trade-offs are especially important if you are considering a career change. Like all decisions regarding your career, you should analyze program options carefully and select the option that best meets your needs.

2. Traditional Full-Time and Executive MBAs — 2 Years

The standard full-time MBA has been around for more than a century, and typically requires the completion of 60-65 credit hours over four semesters, or two years. With the exception of a summer internship between the first and second years, full-time students leave the workforce while completing their studies. Full-time programs tend to attract applicants who are looking to change careers or industries after having spent some time in the workforce.

For those with significant management responsibilities and multiple years of professional experience, the Executive MBA might be more attractive. Executive programs are typically completed in less than two-years with class schedules arranged to minimize time away from the office, typically a few weekends per month. An Executive MBA is aimed at mid-level executives and business owners who are looking for strategic insights and management skills to take their businesses to the next level.

3. Part-Time MBA and the Dual MBA — 3+ Years

Like the Executive MBA, the Part-time MBA is best suited for working professionals whose schedules are uncertain and can’t be shoe-horned into a rigid structure. In large universities with multiple programs running simultaneously, it is not uncommon to have part-time and full-time students enrolled in the same classes.

Colleges located near metropolitan centers are more likely to offer part-time MBA programs to accommodate commuters. While it is possible to finish a part-time program in two plus years, most enrollees finish within three to five years.

The Dual MBA is not for the faint of heart, since it means completing two programs simultaneously with little overlap in required courses. For many years, combining a law degree (JD) and a business degree (MBA) reigned as the most common dual degree option. Today, dual degree options span a range of disciplines including healthcare, engineering, IT, finance, public policy, etc. MBA dual degree programs typically take one year less to complete than earning the degrees separately.

How Long Should It Take To Earn An MBA?

The answer depends on your career goals, financial work experience, level of management responsibility, and formal education. The time to earn a degree is a relevant question but it might be more valuable to ask what you are hoping to get from your MBA. A shorter program is not always better. However, a longer program delays the eventual return on your investment and may require additional lifestyle tradeoffs. Evaluate all your options carefully and be sure to focus on the long-term benefits not just the short-term sacrifices.

Categories: MBA