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Not so long time ago MBA program would hardly be found in the Czech Republic. Nowadays, MBA is a modern and prestigious degree which adds value to your professional carrier and helps you become more attractive on the job market. Now, there are plenty of universities that offer MBA studies in Prague and Brno. Top level executives, young ambitious managers, successful entrepreneurs and full-time mums are all studying for an MBA – but what is it? We will give you a simple explanation of the different types of MBA programs and some options of where you can study MBA in Prague or the Czech Republic.

The MBA, or Masters in Business Administration, is a graduate degree designed to provide students with knowledge of business practice. The degree originated in the United States in the late 19th century and today is offered by business schools and universities around the globe.

How to choose MBA program?

Delivered in a range of formats, from part-time to full-time, modular to distance learning, the MBA is typically one year (European programs) or two years (US programs) in length. Business schools have been quick to recognise the different needs potential MBA candidates have and are therefore adapting their MBA courses to suit more people’s lifestyles. As a result, an increasing number of variable types of MBA will likely be offered in the future.

As well as providing students with an insight into business practices, MBA programs tend to feature a core set of specializations, such as finance, marketing, strategy, operations and project managment. Thereafter, students can often take electives in specializations they are interested in, such as leadership or entrepreneurship. The MBA is a general management degree but it is possible to specialize in, for example, a project management MBA, or strategy MBA.

Most MBA programs are accredited at a local and international level. There are three major accreditation bodies – AMBA, AACSB and EQUIS. These have been set up to ensure there is a level of consistency and quality across all graduate business qualifications that are being offered throughout the world. Candidates considering an MBA degree are advised to avoid unaccredited MBA programs.

While MBA courses seem extremely expensive at first. In the Czech Republic, the cost of MBA program is lower than in most european countries. MBA tuition begins at 10 000 EUR to 35 000 EUR for and Executive MBA. Students are guaranteed a high return on investment. Most MBAs will find a marked increase in salary after graduating and will see their salary grow incrementally higher than those without MBAs. The course, on average, pays for itself after around four years.

Types of MBA

Full-time MBA

The full-time MBA is very simular to one-to-two years of full time graduate study. Students attend weekday classes at a business school and dedicate most of the time studying for the degree. There is very little, if any time, for additional work, travel or leisure activities. This is why it is so important to get family support when embarking on an MBA degree. Two-year MBA programs are common in North America. They allow students to become immersed in their studies and often provide a period of time to embark on an internship.

One-year MBA programs are the norm in Europe. These programs are incredibly intensive and time-consuming as everything is taught within 12 months. There is no opportunity for internships but it does mean students are only out of the workforce for one year.

Full-time MBA programs are suitable for students with one-to-two years of work experience.

Part-time MBA

The part-time MBA degree is a program studied during evenings or over weekends.

Executive MBA (EMBA)

Executive MBA (EMBA) programs are designed for the working professional with five or more years of work experience; however, the minimum work experience required does vary. Business schools expect EMBA students to have a high level of managerial experience and as a result, EMBA candidates are usually more mature than their full-time MBA counterparts. Executive MBA programs are delivered over a period of 12 to 24 months and allow students to study while they work. As such, students on an EMBA program require full support, and in many instances financial assistance, from their organization. Employer buy-in is crucial to EMBA students as this ensures they can attend the course on a regular basis. EMBA classrooms are made up of a range of candidates with varying backgrounds including industry, non-profit, government and entrepreneurs. The EMBA is also increasing in popularity as a qualification among women due to its flexible nature.