Many people who haven't entered a classroom in years are turning to MBA programs to hone their professional acumen and become more marketable to employers. If you're on that track, make it your business to understand the differences between the MBA programs that are available.

Kathy Dougherty, director of MBA admissions and enrollment at Maryville University, said professionals are coming back for an MBA because of increased demand for corporate and nonprofit transparency. "They're having to be more accountable than they used to, which is good," she said. "They are also saying, 'I may be a great accountant, but now I'm a supervisor of people in marketing and other areas, so I need to be able to relate to them as well.'"

MBA curricula and class scheduling have changed markedly over the years. According to MBAprograms.org, an online information service, the first MBA programs ever created required daily, full-time classroom attendance and a strict compulsory course list. Now, course options are much broader, and there are daytime, evening and weekend classes, as well as full-time and part-time schedules to meet busy professionals' needs. Programs can last as long as four or five years, or they can be done in shorter periods of time, depending on how many classes are taken at once.

Most MBA curricula give students a basic grounding in business-related disciplines such as finance, economics, marketing and accounting. Many also choose concentrations in certain areas that fit their career paths, Dougherty said.

Thomas Eyssell, associate dean and director of graduate studies at the University of Missouri-St. Louis, said prospective MBA students should ask whether a school is accredited by the Association to Advance Collegiate Schools of Business (AACSB). "This signifies that the holder has met rigorous standards with respect to faculty quality, curriculum and facilities," he said. "Only about one-third of business schools in this country are able to meet these standards. Many employers will not reimburse (tuition costs) for non-AACSB programs."

Dougherty said students may or may not be required to sit for the Graduate Management Admission Test (GMAT) before applying to an MBA program. At Maryville, those with a certain amount of work experience and a high enough undergraduate GPA may be able to waive the GMAT, she said. Be sure to ask about a school's guidelines on this subject.

Some schools, such as UM-St. Louis, offer international MBAs that combine regular study with internship programs overseas. Others, including Maryville, offer intensive one-week classes interacting directly with prominent companies such as Harrah's and Krispy Kreme. Top-level managers often gravitate toward executive MBA programs, which are generally more expensive but tailored to the participant's particular needs, Eyssell said.

Whatever program you choose, speak with a school's graduate advisers to study the options that best answer your personal educational aims.

Quick tips

a€¡é Find out if your employer will help bankroll your MBA and what they will expect from you in return.
a€¡é Ask how hands-on a particular program is. Are there opportunities for practical experience outside the classroom?
a€¡é Research online MBA programs if commuting to a campus is difficult.