If you're looking to change careers or greatly enhance your opportunity to move into a management role, a two-year, full-time MBA program offers a comprehensive education. Two-year MBA programs require a total scholastic commitment sustained over four semesters, including active business internships between academic years.
These highly competitive programs may require students to relocate to attend the business school of their choice. They may be the most expensive options, and are strictly for people who have the time to devote themselves to learning as their first priority.
Advantages of the Full-Time MBA
The rewards of completing a two-year MBA program include the opportunities for core comprehensive business and management training, along with elective courses in subfields of specialized interest. You'll forge lifelong business school contacts and, through internships, create a powerful mentoring/recruiting network.
The two-year, full-time MBA serves students with a broad range of academic backgrounds. Major corporations may require management prospects to complete their MBAs before advancement. Some pay partial or full tuition for their employees. In return, you commit to serve your company for a specified number of years.
Some employers may grant workers time off to complete their training without jeopardizing their job status. In return, MBA graduates typically assume new positions further up the corporate ladder and receive commensurate salaries.
Disadvantages of the Two-Year MBA
This MBA program may fall short in the long run if you don't have a powerful focus on your studies and a plan for attaining goals in the workplace afterwards. Since you won't have time to work or tend to family obligations, you'll also need to ensure that you can finance your business school training—and your standard of living.
To pay for business school, students can pursue subsidized and unsubsidized Stafford Loans, private loans, grants, and scholarships. If you're planning to pay for your MBA program with loans, be sure you have solid plans for employment after graduation.