MBA comes in various flavors – full-time MBA, part-time MBA, distance MBA, executive MBA, online MBA, and hybrid. And now, there’s a new addition to the list – the mini MBA.
In the next few sections, we’ll help you understand what a mini-MBA is, how much it costs, what it includes, and how it differs from a regular MBA program.
The simplest way to define a mini-MBA is that of a trailer before a movie. In other words, it will give you a whirlwind tour of the main program in the shortest possible time frame with the least possible expense.
There are some advantages and disadvantages to this approach. Let’s look at the most important ones so that you’re in a better position to decide which format you should go for.
Length of the program
A typical full-time MBA degree usually takes 2 years to complete. Some business schools also offer the same MBA degree in 1 year, this ends up being more intense since you have two years of content packed into half the time.
In contrast, mini-MBA can be completed in a fraction of the time. This can range from a few weeks to a few months. In most cases, there are no live classes. So each student can decide how much time to take to complete it.
Program flexibility
Full-time programs will expect you to leave your job and your family and possibly relocate to a different city. This ends up with the student making a lot of sacrifices to gain an academic qualification. Among the top in the list is the regular salary they’ve been earning before joining which would be forfeited during the duration of the program. This is also termed as the opportunity cost.
In comparison, mini-MBA programs are often offered online which allows the student to take the course at their own pace. Since there are no live lectures, it allows students to define a study schedule that fits well around their professional, personal, and academic commitments. In most cases, there is no deadline to complete the course.
Real-world applicability
In most regular MBA programs, there aren’t too many opportunities to apply the newly gained skills and knowledge since the student is away from regular work. Sure, there are internships, where they can gain real-world exposure and put their new skills to the test. But again, this is generally offered towards the middle or the end of the program. This means that a lot of management concepts learned in the classroom end up being pure theory.
Mini-MBA, on the other hand, can be completed along with the student’s regular work or academic schedule. This allows them instant access to opportunities outside the program, where they can practice what they have recently learned in the course. This ability to correlate theory with practice is a powerful way to retain what you have learned.
Mastery of the subject
Mini-MBA programs by design are meant to be short and compressed. This means that it is not possible to go too deep into any one subject. Which in turn, could mean that you may not get more than a high-level introduction into every management topic.
This is where a full-time MBA program has a huge advantage. The 2-year format not only covers a wider range of topics but also allows the students to go deeper into multiple concepts.
One way to deal with this shortcoming of mini-MBA programs is for students to identify topics they’re interested in and then consider taking up additional courses in those specific disciplines. This again links back to the flexibility aspect that we covered earlier since you’ll have the option of building a customized study plan based on your preferences and career goals. There is no need to stick to a pre-defined and rigid syllabus, most of which may not align with your career objectives.
Networking opportunities
Mini-MBA programs are typically designed for individual study. While it offers a tremendous amount of freedom and flexibility, it also means that you’re not part of a larger community of students. The camaraderie that is often talked about by regular MBA students would be missing in a self-paced online course.
You’ll have to be self-motivated to start and finish the program. On the positive side, this also means that you can ignore competitors and unnecessary rivalry focus on getting high grades, and you can keep your focus on learning.
This is an area where regular MBA programs have an advantage as the entire academic process revolves around cohort and study groups. The collective enthusiasm and the friendships can go a long way in keeping students motivated to complete the course.
Recruitment opportunities
Brick-and-mortar business schools that have been around for a long time have a ready and streamlined recruitment ecosystem, including relationships with companies that come on campus to hire MBA students. Alumni working in multiple companies can offer mentoring, support, and job opportunities to current students.
Mini-MBA students do not have this benefit. So do not look at such programs as a stepping stone to better career opportunities. But by developing skills and knowledge, you’ll still have the advantage over the others who have not taken the initiative to upgrade themselves and become competitive in the recruitment space.
That, in short, is a summary of the difference between a regular and mini-MBA. By weighing the pros and cons, you’ll be in a position to make a decision on what works best for you.
Also Read: Best Distance Learning MBA Colleges in India
